How does binary option works in Forex trading? Do you think it is the best idea to use binary option? Is it profitable?
Yes it can be profitable!
I have been trading binary options from the middle of september.
My starting balance was 200 dollars, my account is now today around 4500 dollar.
so yes it can be profitable, but i be very careful!
Binary options are very risky compared to real estate and foreign exchange trading market. It is said to be unique because of the fact that dealing is done at a certain period of the day.
What you need to think when trading binary options is that you only have to risk small amounts of what you can afford i.e. say $10. Comparing this with real estate is a no brainer as you would have to invest thousands and then work out fees etc. This is to think nothing about the fact that you may get tied up in your investment for a long period of time!
In fact while there are risks to trading with binary options, you can to some degree actually control the risk. This post Why Binary Options Offer Lower Levels Of Trading Risk actually argues why this is the case. You know both your risk when you first conceive of the trade. Unlike many other forms of investment this is not the case.
Binary options can be risky and profitable at the same time. The secrets is having a solid trading strategy, carefully choose your broker (many don't pay out), then money management and not over trading. If you can manage this very well, then you can be successful trading binary options.
These are basically digital option trading which is directionality of the underlying assets that uses specific trade size for a certain period of time.
Choose a binary options trading platform that offers at least 65-70% returns - One of the many advantages of binary options trading is that the pay-out is determined in advance so the investor is completely aware of what they would earn, or even lose before the expiration of the option.
keep away from Binary for now. Till the FCA regulates the industry am out!
Had any luck with binaries ?
A Step-by-Step Guide to Binary Options Trading : a_step-by-step_guide_to_binary_options_trading.pdf
An interesting article on binary options trading (a bit older, but nevertheless) : Don't Gamble On Binary Options - Forbes. Recomended to read before doing anything with binary options. Might help to prevent some things