Can any one help

hi i’m new to this and was first drawn to the whole bill polas person and then looked more in to is and am now thinking what to do can any one help here as i have thort binary options and looked in to it and hear lots of bad and very few good but want to start some think because it seems like a good think to learn and also a challenge so any recommendations as to were to start with a lowish start but willing to add more in time
many thanks

Forget about binary options.

Binary option is better if you like gambling. But gambler can not survive in forex. So learn forex and live a happy life with it.

In Binary option you have to guess right 62% of the time in order to achieve break even.The reward:risk is very annoying in binary options so learn to trade forex.Don’t think about trying binary options with real money.

Options were originally thought for inliquid markets suck as futures and stocks so they can be more accessible to the common citizen. They are very regulated and are not an easy thing to trade must I say. It is an affordable product but you need a lot mor practice.

I thought Binary options were like trading markets with somthing like hedging. I was looking to learn it hard. The greeks, Iron Condors, butterflies, etc…
I thought it was a winning trade. little earnings, but consistent earnings.

Binarys do not allow you to use options shapes. Also the greeks are applied to standard options, because with binaries is touch no touch, the theta delta and vega decay isnt as evident. If i trade options i trade standard ones. I am no options expert either. I just do simple spreads and volatility plays. If you want small consistent earnings, sell premium and buy cheap out of the money protection on highly volatile instruments and use the volatility crush and theta decay.

As posted above most brokers here really screw you on costs, I tried the binary thing with a live account, it was crap. The costs and associated edge required was too high to make it feasible. I was profitable but it was a few bucks and probably luck since i only took 10 trades, but that was enough for me to decide it wasn’t for me. Had i taken 1 additional loser It would have been net loser account. Probably a psychological reason why i quit. :wink:

I’d stick to Forex as well. If I’m going to trade options(which I do) I would want to be able to trade spreads and collect for writing options, otherwise I don’t want to be watching a clock to know whether I’m going to be profitable.

The nice thing Forex has over regular Options is the costs, which are significantly lower. You also get filled on trades really easy, and the risk/reward can be much more favorable. When you factor your commission costs with options, sometimes your 25% profit can be reduced to 10%, just based on commission costs and that’s if your trade gets filled at your price, which doesn’t always happen.

Perhaps I may take another look at binaries at some point. If Spot FX had not come around, I probably would have tried binaries. As it stands, I would really have to find a good system for binaries, and have more convincing reasons for trading Binaries over Spot Fx

thanks every one for the reply looking at it all i think i should go back to pip school and reread the basic things and look more in to fx trading any tips would be really nice :stuck_out_tongue:

Take ur time and be patient :slight_smile: