Trading binary options

Discussion in 'Newbie Questions' started by johnnytrader, Jul 2, 2012.

  1. johnnytrader

    johnnytrader Trader

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    Hi.

    I am a little new to online trading, and I discovered binary options. What do you know about this type of trading? Is it a good alternative to forex?

    From what I saw, it looks much easier and simple, almost too good to be true. Do you have any experience with this? Are the brokers legit? What brokers do you recommend?

    Waiting for your advice.
     
  2. Enivid

    Enivid Administrator Staff Member

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    Binary options only look good, in fact they are very hard to play profitably.

    I only had live account experience with BetOnMarkets and there was no problem with them, although they limit trading significantly when some really nice trading opportunities arise.
     
  3. JLowry

    JLowry Trader

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    Binary Option trading

    Binary Options probably shouldn't be your primary trading instrument, but it is great way to take advantage of both short and longer-term market conditions and trends.

    Its simplicity, transparency, and affordabilty (i.e no broker fees) also make it a perfect way for novices to get their feet wet with limited risk and investment.

    There are many brokers out there. You can message me privately if you want my reccomendations.

    Two of the most important things to look for is a broker that will
    • provide you with support and guidance
    • with no restrictive strings attached to the acceptance of bonus/leverage funds

    They are also a lot of fun, but it takes hard work and discipline if you want to make serious money.
     
  4. Enivid

    Enivid Administrator Staff Member

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    That's kind of funny. Average broker fee is about 10% in BO. If it isn't explicit it doesn't mean that there is none.
     
  5. PaladinFX

    PaladinFX Active Trader

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    Concur wholeheartedly with that.
    If you want to learn how to trade, stay away from BOs.

    As I am new to this forum, I don't want to start ranting about how easily people are being scammed when trying their hand at BOs ... if you are interested in first-hand-experience reports of people who have 'traded' BOs (not me), check out the Babypips forum and search for 'Binary Options'.


    Cheers,
    P.
     
  6. Hello fellow traders

    This is the system I use and it really helps make trading easy

    [​IMG]
     
  7. burdianex

    burdianex Trader

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    Many people have picked up interest in binary options trading lately. This is not surprising as it is one form of financial trading that holds plenty of promise and is relatively less risky than some other forms of investing such as forex trading.
    You can make money with binary options trading, but you need to discover the keys to being able to trade binary options successfully. Being successful at binary options trading does not mean that you will not suffer some losses. Rather, it means that you will be able to strike a decent winning ratio.
    Due to the fact that binary options functions more like a "yes or no" kind of trade mechanism, there is a tendency among inexperienced traders to trade it like a poker game or like they would do in the slot machines of Vegas. Trading binary options without a strategy is gambling. But when you trade binary options with a clear-cut strategy, you will make a success out of it.
    Since binary options are traded on the conventional financial assets most of us know about and hear about on the business news on TV, you need to identify how to trade them using the various binary option trade types.
    There are several trade types:
    - Rise/Fall
    - High/Low
    - Touch/No Touch
    - In/Out
    Some brokers offer all these trade types, and some are more restrictive. Brokers also offer different expiration times and dates. Therefore, a successful strategy will have to take into account the following information:
    1) Expiration times.
    2) Trade types available.
    3) Financial assets available for trading at any particular time.
    All these variables are necessary in developing a trading strategy that produces positive results.
     
  8. Rambo35

    Rambo35 Confirmed PaxForex Representative

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    You can make money trading binary options with the right strategy, just like with any other form of trading. Do not believe the sales pitch that you do not need any knowledge to trade binaries. It is as hard as any other asset class to profit from. Those who understand how will make money without problems, BUT they do have the proper knowledge.
     
  9. jlangeles

    jlangeles Trader

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    Check this article that explains them: [link removed] They seem good, but I'm hesitating about going life because I haven't heard any good comments with the guys who already made a deposit, I'm not sure, they said is like betting, and being honest, some of them are regulated by gambling entities, so, there's a good reason to be doubtful.
     
  10. reaneyts

    reaneyts Trader

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    As you start is it require to hire a broker to guide you?
     
  11. nalu

    nalu Confirmed ProfiForex Representative

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    Trading binary option can be exciting because a trader trading binary option know the potential risk involved and you can choose the time of expiry time of option by himself. But they don’t offer demo account like in forex so you have prognose yourself if the assest will go up or down.
     
  12. eyeball

    eyeball Master Trader

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    Binaries

    Binary options look deceptively simple but in reality are difficult to trade with consistent profitably. Look for a broker/dealer who has demo accounts (there are several). Trade the demos first before putting real capital at risk. Your demo experience will educate you to the complexity of the game. A time consuming but necessary step. Be careful to establish your account with a regulated broker in a country that has rigorous financial requirements and supervises their licensees. Your chances of getting scammed will be reduced. Above all, bear in mind that trading binaries is an adversarial contest between you and the broker. Your profits are their losses and vice/versa.They are, at the outset, more experienced than you and they control the order platform.They have the edge. To overcome their edge you should have a practiced and profitable trading plan and be vigilant as to their maneuvers. If , at any time you have any questions or concerns, feel free to contact me, on this thread or by private message which is available on this forum and I will , to the best of my ability and experience, help you if I can.
     
  13. Clark Doherty

    Clark Doherty Trader

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    i'm very interested in trading binary, atm i'm trying out a couple of Binary Options brokers but would want to hear if somebody had experience with the field and what kind of profits you were able to make...

    in particular if you traded IQ option or Ayrex would be good to know but other brokers too, i haven't traded big bucks yet so i care about honesty and mobile apps too cause i trade on the go sometimes... any experience anybody?
     
  14. Enivid

    Enivid Administrator Staff Member

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    I trade binary options via Binary.com. It is quite good for the type of trades I need - the long-term ones.
     
  15. garena

    garena Active Trader

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    I had a demo acc at OptionTrade and not tried real yet but seems it's not suitable with me even though I am interested in its ladder type.
     
  16. Clark Doherty

    Clark Doherty Trader

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    any experience with mobile traders though?
     
  17. garena

    garena Active Trader

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    Both Forex and Binary could be traded via mobile, but I think the table (Ipad) or laptop are much better for trading.
     
  18. f4forex

    f4forex Active Trader

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    Binary.com is an old and renowned broker in binary option trading however optiontrade, cherrytrade, iqoption etc can also be few decent options to consider while choosing a binary options broker.
     

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