I have read Trade Strategies - Forex Analysis and Broker Reviews and I am not sure is this legit or not?
Binary options is a losing game just like gambling. Drop the idea dude :58:
That really depends on the trader. I think most blow their accounts faster than in forex as the ad campaigns are much worse claiming no knowledge needed etc. Can you make money? Yes, it is possible but as always you need to know what you are doing. It has little to do with gambling unless you for those ultra-short expiry times.
Is it possible? Yes. But it also requires a trading strategy as the forex trading, otherwise you can call it gambling.
All trading is gambling. From Merriam-Webster:
: to play a game in which you can win or lose money or possessions
: to risk losing (an amount of money) in a game or bet
: to risk losing (something valuable or important) in order to do or achieve something
Your strategy is irrelevant, as the movement of price is completely random. A coin toss is as equally valid a strategy as price action.
Binary option trading payouts are known and the time frame is fixed, means whatever expiry time you choose your trade will be expired on the said time. You will have to predict either your underlying asset will go up in this time frame or down. Its pure trading and I guess it is easier than forex.
trades that expire end of day will see you with a bigger win ratio .
i think i place about 2 trades a month on binary using end of day which most win. any less time than that trade forex or spreadbet. Once i moved to cfd`s and spreadbetting i started making money intraday
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Not necessary, i also make some good amount while trading on 2 - 5 minutes expiry. But to some extent, i guess new traders should try longer time frames as trading on lower time frame without much experience can merely be a suicide.
Would it be possible for you to share your trading strategies?
Of course, as you can in other types of trading.
But, i think that having forex knowledge and experience is a must, if you want to fully exploit binary options and be profitable on a consistent level.
very true. Binary options is just the same as Forex trading but you are using a different instrument to profit from price changes
Sorry but its not just the same as forex, its more like roulette pure gambling
To be avoided at all costs imho
I’m afraid it just [B]isn’t[/B].
Trading forex binaries has [I]some[/I] similarities to forex trading, certainly, but the reality is that it also has an [U]additional[/U] disadvantage to aspiring traders in that in addition to all the normal problems and difficulties and requirements of trading forex successfully, there’s also a significant, [B]extra[/B], built-in house edge to overcome as well.
A[I] long, slow, careful[/I] read through this thread may assist you: [B]301 Moved Permanently
Been down this path before. Beating the 3-1 win loss ratio, sharp spikes, spread manipulation. Oh and on the line close counts as a loss. What is it? Its BETTING whether price is going up or down. Its not an asset and the trader DOESNT own the underlying asset.
Do some of you forum posters actually trade binary options? It seems as if every post has a guy that says don’t trade binary options. You can make money using binary options just as people make money trading forex, or stocks. As long as you choose a reputable and regulated broker. Also have a stratgey.
Isnt all markets a losing game that’s why most traders don’t make it? Especially forex.
I can agree with you on this. Short expiries as in 30 secs, 60 seconds and 5 mins are gambling but 1 hour and 1 week expiries? Its different.
You’re determined to keep promoting binary options, aren’t you.
Not a B.O. broker by chance? (Just kidding)
No I’m just here to defend another kind of financial instrument that is highly speculative. At the end of the day, I have put money in and completed a withdrawl with no hassle. But for anyone results may very. Do you even trade binarys? Have you ever traded binarys with a regulated broker?
Defending the indefensible, in my opinion. But i can understand why you would, having seen your youtube channel