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Acting on My 2017 Forecast Using Binary Options

January 9, 2017 by

Forecasting the currency rates by simply stating some arbitrary ranges is easy, that is why I prefer to use some real money to back up my talks. Like the year before, I have decided to act on my 2017 Forex forecast. Since my predictions are all in a form of the year-end ranges, I have used the “Ends In” binary option contracts. Same as before, I have used Binary.com to place these trades — unfortunately, I have not been able to find any other legitimate binary broker that would offer such kind of contracts. I have bought six options in total — EUR/USD, GBP/USD, USD/JPY, USD/CAD, USD/CHF, and gold:

Binary option contracts based on my 2017 Forex and gold forecast

There are no “Ends In” contracts for oil at Binary.com, so I had to skip it. As you can see, the risk-to-reward ratio is rather high on all of them — that is due to the low probability of events according to the broker’s calculations. The most probable event among my 2017 forecasts looks to be the Great Britain pound ending the year within 1.05–1.15 range. The least probable one is the USD/CHF ending 2017 inside 0.73–0.83 bounds — it has the biggest payout of all six options (1,325%).

If you want to tell us more on how you monetize your currency predictions for 2017, please feel free to do so using the commentary form below.

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