Trading advice to make money from fx, binary as second income
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  1. #1
    Join Date
    Jul 2014
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    2

    Default Trading advice to make money from fx, binary as second income

    Hello Traders,

    I found babypips 2 years ago and get lot of advices and education relating to the trading.After 1 year, I started real trading with $100 account and in a month I turned it into $210. After I doing this I thought to change my broker and I invested my money with another broker. After trading 2 months time period with new broker my $250 account lost and I was really disappointed that what happened. After that I turned to Binary Option Trading and yesterday I lost my all money with 7 continues lossing trades.

    Acctually in binary I didn't analyze the market as I did, when I am trading forex.

    I am really expecting to make money from trading as my second income and I request from all of you to give your valuble advices and share your experience with me.

    Thank You All

  2. #2
    Join Date
    Sep 2010
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    Cheshire, UK
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    Quote Originally Posted by pips4indika View Post
    Hello Traders,

    I found babypips 2 years ago and get lot of advices and education relating to the trading.After 1 year, I started real trading with $100 account and in a month I turned it into $210. After I doing this I thought to change my broker and I invested my money with another broker. After trading 2 months time period with new broker my $250 account lost and I was really disappointed that what happened. After that I turned to Binary Option Trading and yesterday I lost my all money with 7 continues lossing trades.

    Acctually in binary I didn't analyze the market as I did, when I am trading forex.

    I am really expecting to make money from trading as my second income and I request from all of you to give your valuble advices and share your experience with me.

    Thank You All
    Have a little look at this...

    https://www.fbi.gov/news/stories/binary-options-fraud

    This story from the FBI is even placed well above that of 'MISSING PEOPLE'

    Stay away from Binary Options

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    Last edited by Jezzode; 03-19-2017 at 06:06 AM.

  3. #3
    Join Date
    Jul 2013
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    2,510
    Quote Originally Posted by pips4indika View Post
    I am really expecting to make money from trading as my second income

    In that case, you'd be well advised to keep well away from binary options. They're about the worst place anyone can possibly start: in addition to all the normal problems of learning to trade, binary options impose a significantly large additional problem: there's a substantial built-in house edge to overcome, as well.

    For this reason, binaries are a way of really stacking the deck against yourself.

    The links here will help you, if you read them carefully enough: binaryoptions.

  4. #4
    Join Date
    Jun 2016
    Posts
    183
    I agree with the previous posts. Stay away from Binary Options. Most binary brokers are scammers which eventually blow the accounts of their clients. So I'm not surprised that you lost all. Take a look at these threads: Mother's agony after losing £12.5k through trading site...
    Nearly Lost All

  5. #5
    Join Date
    Mar 2017
    Posts
    3
    I never tried binary options. What is difference between them and trading on Forex? Are the principles the same?
    Is it always a scam?

  6. #6
    Join Date
    Jul 2013
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    Quote Originally Posted by sadip.tammat View Post
    Is it always a scam?

    Probably not always, but the odds are stacked against the trader to such a large extent, compared with other kinds of trading, that it doesn't really matter. Anyone who can profit overall from binaries can profit more, and more safely, in other ways.

    (Binaries are not necessarily for forex: they're also available for commodities, indices, etc., but similarly "loaded" against the customer.)

  7. #7
    Join Date
    Jun 2012
    Location
    Orlando Fl
    Posts
    1,032
    Think of binary options as a coin toss, if the coin is worth a dollar and you lose, you lose a dollar, but if you win you only get paid 90 cents, Your odds on most casino games are better then that

  8. #8
    Join Date
    Sep 2010
    Location
    Cheshire, UK
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    Quote Originally Posted by Dennis3450 View Post
    Think of binary options as a coin toss, if the coin is worth a dollar and you lose, you lose a dollar, but if you win you only get paid 90 cents, Your odds on most casino games are better then that
    And, also more fun at a Casino - especially with a large glass of Bordeaux Malbec, 'just saying'

    Used to love unwinding after work on the Black Jack tables - then again I used to have a serious problem with it, too! Not been in five years now, touch wood.

  9. #9
    Join Date
    Dec 2015
    Posts
    448
    Regarding binary options, I too strongly advise to stay as far away from them as possible.

    Jezzode pointed out the warning the FBI of all organizations issued out against them, but apart from that the US FINRA, aka Financial Industry Regulatory Authority also joined a long list of authorities that warn about the high risks of binary options.
    “Binary options are inherently risky all-or-nothing propositions. When a binary option expires, it either makes a pre-specified amount of money, or nothing at all, in which case the investor loses his or her entire investment,” the FINRA warned.
    They also emphasized a number of scams binary options brokers employ to rip off their clients.

    Don’t fall for that trap.

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