How safe are binary options?
- Thread starter burdianex
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That is the reality, few who are successful are very successful and most just get their money taken. I gave binary options a decent shot. I made some and
ended up loosing it all in the end. I don't consider myself a slouch at all when it comes to standard trading, and have success with "old" or "vanilla" options.
I suggest to looking into old options first, if only for the education between the two. You will notice that binary is designed to be very hard, all or nothing trading. Propaganda and advertising is focused on high returns, low complexity, and even less start-up capitol. I don't have a bias either way, I found them very hard to trade consistently and really didn't have the desire to be in the trade mentality it takes to trade them.
You have to have a "plan of attack" to prosper in Binaries. Whether you use your own platform or the broker's platform. There are several "systems" out there to chose from. The best I've used, so far, is the simple "bump it up one place" style. One style will fit you better than the others. Give them all a try. Again, there is NO holy grail.
If you try Binaries one time, using one approach and quit, you've missed the boat.
If you try Binaries one time, using one approach and quit, you've missed the boat.
They are as safe as any other financial instrument. As with everything else you can trade, as long as you know what you are doing and have the proper strategy it will be profitable for you. Just make sure you trade with a good broker who does not screw you over when you try to withdraw your profits.
Binary options I believe to be very risky.
As I understand it, there is no underlying asset and you are basically just placing a bet against a unregulated broker (unless things have changed a lot since I last looked - which was a while ago)
When I looked into doing binary options, I concluded two ways to make money in them (no pun intended)
1 - Be a broker.
2 - Be a affiliate.
They seemed pretty shifty business to me.
As I understand it, there is no underlying asset and you are basically just placing a bet against a unregulated broker (unless things have changed a lot since I last looked - which was a while ago)
When I looked into doing binary options, I concluded two ways to make money in them (no pun intended)
1 - Be a broker.
2 - Be a affiliate.
They seemed pretty shifty business to me.
We can disagree on that. The valid binary option brokers are in the process to being regulated.
This must be new
It started this year and by 2014 all of them will either be regulated or out of business.
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