Can You Make Money with Binary Options?

Last Update: January 04, 2016

Hello everybody!

I have a few questions about binary options. I know I could just look them up on google but I'd like to pick your brain! =)


- what are binary options exactly?

- are you into binary options? If so, do you have a website that you can point me to?

- do you know of a good training program to learn binary options?

- have you ever earned money with binary options?

- do you think binary options is a scam? if so (or if not), why?


Thanks a lot for your contribution and time! Merry christmas! =)

Sarah


Update

PS : wow you guys are so awesome! I have read all your answers and plan to answer each and everyone of you =) Let me just find some time between still unwrapping presents and eating christmas leftovers =) Merry christmas to you all!

Sarah

Join the Discussion
Write something…
Recent messages
ArmBlaster Premium
I actually used a sim for Binary trading, fun as hell but if i had real money at stake, well thats a different story.
Reply
BelieveItYes Premium
lol...
Reply
Baran1965 Premium
- what are binary options exactly?
Simple, Binary Options is a betting about how a currency pair eg. USD/EUR will move (up or down) in a given time frame from 60 sec and up to a day.
example: The position at the time you bet is 1.0907 You think that the USD will go stronger, so you bet up. If you think the Euro will go stronger then you bet down. After 5 min (We say that was the time you chosen) the position is 1.0908 or higher. If you bet on up you win but if you bet on down then you loose.
Lets say you bet $25 on up, and the win rate was 75% then you would get back $43,75 that means you won $18,75 if you had lost then you would have loose $25

- are you into binary options? If so, do you have a website that you can point me to?
Yes I do bet on Binary Option, I have not written anything about it, but my broker is OptionRally, and I am satisfied with them, just not let them talk you in to invest more money that what you can afford to loose, because you can loose all your money, and you can loose them fast. I am only playing with a low amount I invested $250 in October last year by 1. of January I had about $1000 The 16. January I had $2350 yesterday I had $925 left, so as you can see easy com easy go.

- do you know of a good training program to learn binary options?
My broker has a ok program with personal coaching, but as I said they are also sails men. Do not invest more then you can loose with out it hurts your economy.

- have you ever earned money with binary options?
Yes i have, but easy come easy go.

- do you think binary options is a scam? if so (or if not), why?
NO I do not think Binary Option is a scam, but here as everywhere you have bad apples. Brows information about your broker and do not trust of people that tells you about robots that guarantee you so and so much success those I think is a scam.

Hope this was helpful and understandable :)
Reply
BelieveItYes Premium
oh wow thanks for taking the time to explain, let me read this a couple times and get back to you !!! =)
Reply
BelieveItYes Premium
Hey again Roy ! Actually I didn't have to read this twice, you did a great job at explaining binary options, thanks a lot!!
I will take your advice into consideration. My friend yesterday won 5 trades in a row, he bet up or down on certain currencies for only a few minutes and won some money. So it does work but like you said, easy come easy go =)
Thanks again for your precious time!
All the best
Sarah
Reply
chartdude Premium
Hi Sarah
Perhaps this will be of some help to you:
http://www.investopedia.com/articles/optioninvestor/10/binary-options.asp

Know who you are dealing with..Be careful of who you would choose as a broker. As with so many things, there are scam brokers out there that may abuse your account, not pay you properly, or flat out take your money. It can be profitable but the right broker is essential to get the most out of trading binary options. Check their credentials and performance, etc.

Hope this helps you :)
JIm
Reply
BelieveItYes Premium
Jim you are awesome and very helpful today ^^thanks again
And yes I told my friend to be very careful who he decides to trust.. he's been scammed a few times and has lost a couple thousand dollars. I am trying to find a way to learn myself and help him as well
Cheers
Sarah
Reply
chartdude Premium
And that is an example of how helpful and sweet you are. Sorry to hear of your friend getting scammed...that always stings, but perhaps a lesson learned. I am positive with you helping him and looking out for him he will get along well. :)

Jim
Reply
resoundecho Premium
It is great to ask about options though. Can write a post about it at the very least no matter you decided to go or not go~ :) That's the beauty.
Reply
BelieveItYes Premium
very true ! =)
Reply
doggietime Premium
Great question. I have seen so many talks of scams. Not sure what to believe these days.
Reply
BelieveItYes Premium
me neither lol... but this discussion is certainly making things a bit clearer
Happy new year!
Sarah
Reply
causeneffect Premium
Hi Sarah

A lot has been said about binary options, may I suggest two alternatives?

1. Casino - same odds, similar principle but you get free booze.

2. Focus on what you are doing best - affiliate marketing. Create a website on the pros and cons of binary options and market a certain platform with an affiliate program. There are lots of them out there. This way you can still monetize the topic with a much smaller risk of losing :)

Cheers from Switzerland
Steffen
Reply
NORZ Premium
Agree. Focus means follow one course until successful. Affiliate program is much more easier than trading. I have studied stock market and how market moves for half a year yet I still lost all my money at my first trade. Hahaha!

But of course I don't want to discourage you Sarah from doing trading. There's a lot of education you can get from trading anyway. :)
Reply
BelieveItYes Premium
Hey Steffen

Thank you for your answer. Lol, the free booze ^^you're right about that

I am doing affiliate marketing and not into binary options at all... I don't understand anything about it lol... I am just curious and wanted to pick people's brain

Thanks again and happy new year!
Sarah
Reply
NORZ Premium
I have tried doing forex trading for a while back then. But I focused to internet marketing. Binary option is also like a forex or foreign exchange trading. Yes it is a legit way to earn money but it takes a lot of analyzing of the market for you to have an edge of winning. I don't know any binary option training but I know people who train forex trading which is basically very similar to binary. Like Mario Singh, Jason Stapleton, Akil Stokes. Try visiting this site http://www.tandemtrader.com/

Pros
- you can earn money today
- it's very easy to do just by clicking a button

Cons
-higher chance you will lose money today
-requires lot of analyzing
-you need large amount of cash to win large amount of cash
-waiting for the market for hours is boring
-you will get lots of frustration

*Note: This is for forex trading not for Binary options. :)
Reply
DavePaton Premium
Forex is very similar to binary option trading. I have tried trading both but I couldn't devote the time required at the times of the day when there is the most movement in the market. This was due to my young kids, couldn't be a bad father and neglect them.

Binary options is very hard to predict, as at the expiry date of the option, you need to predict whether the price will be above or below the entry price. Sounds easy, doesn't it. No way, unless you have a lot of skills in analysing the market or you have a reasonably good, honest broker giving you decent signals, it is basically gambling. A lot of other factors can come into play which make it really hard to predict the direction of price of currency pairs, commodities or indicies, such as news etc.

I remember when I was trading binary options, I entered a binary option on oil on the recommendation of my broker, and it was for a large amount. He told me the price of oil was just having a correction in price and was sure it would continue in the intended direction. It was at the time there was a lot of unrest in iraq and that news caused the price of oil to spike and I lost the trade.

All you do with Binary options choose a asset for the option, choose an expiry time and pick whether the price will be above or below the current price. I know when I started, I thought it sounded so easy to do and brokers will keep telling you that but that is far from the truth.

If you do want to try it, try to stick to larger expiry times, such as hourly and above as these are marginally easy to predict the price direction and don't use a broker that keeps ringing you, trying to pressure you into depositing more and more money. This should of sent of warning bells when it happened to me but I am such a trusting person, so I believed the broker was just trying to help me, But it was no skin of his nose that I lost all that money, they had still made their money so I had to stomach the loss
Reply
NORZ Premium
I totally agree. Short term trading is gambling. It's a total 50-50. An hourly trading is much more analytical it's lot safer to be affected by a spike or what they call new structure high or new structure low.

At first when I'm starting here at WA I was thinking of going to forex trading niche but I had 2nd thoughts of it as I'm not a real experts about it. I know some rules and structures and how to use basic Fibonacci.

In trading you have to have a massive amount of patience. PATIENCE in trading is really vital. I can still remember when I won $120 dollars in just one hour and then I become greedy not stopping the trade as I planned then here comes the bear market. I end up losing $50 instead of winning 120. LOL!
Reply
BelieveItYes Premium
Thank you for sharing your opinion and experience. I always assumed forex/trading and alike were legit but I just wonder if it is possible to earn good money with it, what the best training platform is and so on... Thanks for the link as well, i'll check it out right away.
And thanks for taking the time to write the pros and cons!
What is the difference between forex and binary options? O.O lol
Reply
BelieveItYes Premium
thank you so much for taking the time to explain all this.... I really appreciate it and now have a better understanding of the risks and the time it involves
Reply
NORZ Premium
I haven't done binary before but I have seen and studied it for a little while and what I can say the major difference about forex trading and binary is that you can earn money much faster in binary and you can lose money much faster in binary. Pros and cons again. LOL!

Binary is more of a gamble than forex trading. :D
Reply
DavePaton Premium
I didn't really explain forex trading, are you asking what the difference is?
Reply
DavePaton Premium
It sure is a gamble! :)
Reply
BelieveItYes Premium
Yes what is the main difference between forex trading and binary options?
Reply
DavePaton Premium
.10With forex, you have what is called a pip. That is a small movement in the currency pair. You can open a trade at a set dollar amount per pip. that means, if the trade goes in the intended direction, you with gain that amount you traded per pip. For instance, you can trade at $0.10 per pip. If it moves 20 pips in your favour, your trade will be up $2, but this is not realised until you close the trade. This is done by hitting your take profit target or stop loss. (By saying, move in your favour is determined by whether you buy or sell the currency pair- if you are buying it, you intend the price to move up or if you are selling it, you intend the price to move down)

You may set a take profit target of 20 pips, so when the price moves 20 pips in your favour, it will hit your target and you will bag $2. $0.10 per pip is what is called 1 micro lot. You can trade a $1 per pip, which is a mini lot or $10 per pip, which is a standard lot. You can actually trade at any different combinations of micro lots, minis or standard lots, such as 3 minis and 2 micro lots etc.

If you are trading at 0.10 per pip and it moves 20 pips against you, you would be down $2.

The size selected is dependent on the available margin you have in your account. This basically means, you need to have a certain account size to trade for instance mini lots but you need an even bigger account size to trade standard lots.

So, if you have a $500 account and are risking the recommended 1%, that is $5. If you have a 50 pip stop loss, you would only want to enter a position of 1 micro lot, which is $0.10 per pip. If the trade hits your stop 50 pips away in the other direction, you would lose $5 (50 * 0.10).

Just remember, capital protection is very important in this business. So is education on what you are doing and the discipline to stay out of trades if everything doesn't line up.

You can even have a thing called a stop loss for each trade. This means, if the price goes against you a certain distance, if it will exit your trade allowing you exit the trade with only a small loss compared to the total value of the trade. These are foolproof but, as there are some factors that make price jump straight over your stop, such as a news announcement, when the price is moving very fast. If this happens, you might get into margin trouble, where it might use up all available margin in your account and you might get what's called a 'margin call'. This is where the broker rings you and asks you to deposit more in your account to increase the margin or available funds in your account or they will have to close the trade. To avoid this happening, it is best only to risk 1% of your account on any given day.

Look at this site to give you a better idea of forex than I can explain. http://www.babypips.com/school

So with forex, you trade at a set amount per pip, or movement in the currency pair and you can get out with a small loss if the trade doesn't go in your favour. With binaries, you predict if the price will be above or below your entry price. That's it. You get either about a 70% payout or lose the whole amount you entered the trade for. With forex, it is mostly, a lot more gradual, the gains and losses, as long as you stick to proper money management rules of only risking a small % per trade but with binaries, you can lose or make money a lot faster.

Sorry about the long winded explanation, but I would be happy to talk to your friend, to impart a few things I have learnt over the last, about 8 years. :)
Reply
BelieveItYes Premium
wow thank you so much for your time O.O you're really awesome. Let me read this (and read it again and again lol) until I have processed it ^^
Reply
DavePaton Premium
lol, sorry to bombard you with information! There is just so much to learn with trading on the financial markets :)
Reply
NORZ Premium
Wow man, you really know this topic well. Is your site about forex and binary? If not I strongly suggest you start to make a site about these topics. :)
Reply
BelieveItYes Premium
Oh no don't be sorry, you've been really helpful and interesting! I'm grateful you took the time to explain all this to me, thanks!!! =)
You have picked my curiosity and I might look deeper into this now!! ^^
Reply
BelieveItYes Premium
agreed lol
Reply
DavePaton Premium
What I have said is only just scratching the surface. I don't know anywhere near enough to make a site about it, anyway, the are dozens of decent education sites out there already.
Reply
DavePaton Premium
But I wouldn't know where to begin with making a site about forex in a way that people could use it to learn about forex. Besides, there is no affiliate thing I could think of promoting on my site.
Reply
NORZ Premium
Hmmm... I don't know if Nate provides affiliation for his products which is the Tandem Trading.

Well anyway that's just a suggestion. I'm just impressed on how knowledgeable you are with forex and binary. :D
Reply
BelieveItYes Premium
Do you have a website in mind in particular? With decent education? Sorry to ask much of you again, you've been so helpful already
Reply
NORZ Premium
There is one that I have been visiting before. Here is the link http://tradeempowered.com/. It's basically free as far as I can remember. Go on and check it out. :)
Reply
BelieveItYes Premium
thanks you rock !=)
Reply
NORZ Premium
Your welcome. :)
Reply
DavePaton Premium
Thanks Norz, I guess that's what trying to learn this all for so many years, has done to me, given me some knowledge on it. :)
Reply
NORZ Premium
You're welcome Dave. :)
Reply
BelieveItYes Premium
your knowledge is very appreciated ^^ thanks again
Reply
DavePaton Premium
You're welcome Sarah :)
Reply
GotBackupGuy Premium
I have looked into trading on the forex and decided I was no match for the professional analysts. I have been looking into trading digital currencies (bitcoin against any of the many other new digital currencies). The exchange is always open and there are a lot fewer people competing in this area. So far I am just in the learning stage--I have bought some bitcoin but have not made a single trade against other currencies. I'd be happy to talk further with anyone who might share the interest.
Reply
DavePaton Premium
Forex trading is possible to do as an individual. You just need the right education, be able to trade at certain times of the day, have the discipline to stay out of trades and the discipline to stick to strict money management rules :)
Reply
DavePaton Premium
Just as important as patience in trading Norz is discipline. Discipline to stay out of a trade or to exit at the right time, so greed doesn't take over :)
Reply
BelieveItYes Premium
Hey thanks for dropping by. I am curious about bitcoin.... what can you tell me about it, from your experience? Thanks!
Reply
DavePaton Premium
Sorry Sarah, I don't know anything about bitcoin. My knowledge extends to forex, shares and binary options, but that's it. Sorry if I sounded like some big trading expert who knows about everything trading related. :)
Reply
GotBackupGuy Premium
Here is a quick and simple intro to Bitcoin (there are many others if you want to search around). http://www.theguardian.com/news/video/2014/apr/30/bitcoin-made-simple-video-animation

Perhaps the best introduction is to try it. Set up a "digital wallet." There are many options to choose from, for example: http://www.coindesk.com/information/how-to-store-your-bitcoins/

If you set up a wallet, then you can post your public address here (or send it to me in a private message) and I will send you a fraction of a Bitcoin. Even though 1 bitcoin currently trades for $451, a bitcoin can be divided into billionths, so if I send you 0.000005 BTC it is actually only worth 2/10ths of one U.S. cent. Maybe I'll send a bit more than that ;-) The point is, you should see how a transfer works.

Something interesting is that there are a LOT of cryptocurrencies (all modeled after Bitcoin). See http://coinmarketcap.com/

These currencies can be traded, similar to trading on the forex, except that it can be done 24 hrs per day. Also, there are a lot of different alt-coin exchanges where you can make these trades: http://www.cryptocoincharts.info/markets/info

I know people who are making a lot of money in these trades. I want to try it too, but have not learned enough to try it out just yet.

Sorry for a long reply, but the world of Bitcoin is complex and crazy.
Reply
Levinsay Premium
Nice teaching this is nice school thanks to you and WA
Reply
BelieveItYes Premium
=D
Reply
AlexEvans Premium
Hi Sarah, what a great conversation you have started, binary options are one of the systems that are heavily marketed online. If you follow the hype then every trades a winner. As we all know life's not like that. In having said that some folks who dedicate then selves to the task may do ok. But going by your responses they would fall into the minority. Thank you for asking the question currently I'm sitting on the fence. It's hard enough trying to monetise a Web site in a sustainable way lol. With out getting side tracked.
Reply
BelieveItYes Premium
ahah yeah I never thought people would have so much to say about binary options =)
I would never get into that, I hate numbers and stats.... not to mention the high risks to lose everything but I am curious about everything
Happy new year by the way!
Sarah
Reply
Leonila Premium
Understanding the daily flow of the global market is the most significant factor to succeed on Trading.
Reply
BelieveItYes Premium
Yes you are right, it takes time and knowledge. Getting into this without the prerequisite knowledge can be a waste of time and money
Reply
Leonila Premium
Sarah
I suggest that you did some thorough research regarding your concern on Binary option Trading.
As I mentipned , this program need a careful study on financial market otherwise you can lose your invested capital if you don't have any good understanding of the market that you are interested to Invest.
Reply
BelieveItYes Premium
yes thank you, you are right
Reply
Leonila Premium
The most important thing that you must be considered before investing this type of platform is that you really need to learn and understand the financial markets
Never , never put some trust to what so called auto Binary Trading or copy Trading. You need to learn the basic and focus some strategies on doing your daily trade.

Leonila
Reply
Leonila Premium
Hi Sarah
You asked about what are Binary options exactly?
The Binary options is a platform in which you can simply trade price fluctuations in multiple global markets.
This need some rigid and careful study and analize the daily financial market i n which you want or interested to trade.
If a trader believes the market is rising then the option to trade is call.
If the tiraders believes the market is Falling , the option to trade is put.
But before you can do this you have to study markets thru diagram .
I myself used Candles stick and trend line to understand the market before placing the order.

I hope this help you.

Leonila
Reply
BelieveItYes Premium
Yes it most definitely helps, thank you Leonila for your time
Reply
adrjoh3 Premium
Hi Leonila, what experience have you had with binary? How have you done? Are Candles stick and trend line the ones you would recommend to study the markets? Thanks
Reply
Leonila Premium
Hello adrjoh3
Kindly accept my sincere apology for not responding your queries directly. Unfortunately, my belovrd husband suddenly passed away 2 weeks ago and I and my 2 kids are truly devastated. anyway, besides Candle sticks and Trend line I also using MACD to analys the Market.
I considered this as one of the most important tools when you do your day technical analysis . The MACD like Candlestick Will help you to understand the Market Trend for Day.

/Leonila
Reply
BelieveItYes Premium
I use MACD too. I started using lots of indicators but it turned out they were either confusing or just inaccurate. So I decided to learn price action and only use support/resistance and MACD and I now have much much better results
Reply
BelieveItYes Premium
I am so sorry for your loss =(
Reply
Leonila Premium
Hello Sarah
Thank you so much for your kind concerned.

Leonila
Reply
BelieveItYes Premium
Of course... take care
Reply
adrjoh3 Premium
Leonila, I am truly sorry for your loss. My deepest condolences to you and your family. Thank you for the reply. May God bring peace to you and your family.
Reply
Leonila Premium
Hello adrjoh3
Thank you very much for sharing your kind taughts and condolences.
Anyway, I wish you all the best.

Have a great day.
Leoniila
Reply
DouglasNolan Premium
Wish Steve at "Ivetriedthat" would weigh in. I think he does a lot of reviews on various binary option programs. He seems to know his stuff. Perhaps PM him. I'm sure he's reviewed the program you are interested in...if not he may want to review it.
Reply
BelieveItYes Premium
good idea, thank you!
Reply
62255Cherie Premium
Hi Sarah...I too decided to delve into the murky world of binary options. It's a straight gamble. You decide whether the "stock" will go up or down and you bet on it. When you win, it's a high, but when you lose it sucks. The brokers at these companies will all tell you they have the information and the system that will make you money and quite frankly, I think it's a crock.

Then...if you want to withdraw your money it becomes this whole new nightmare. One company didn't refund my cash for over 2 months. I kept on having to fill out the same paperwork over and over again.

Bottom line...my advise is to run as far away from binary options as possible. You'd do better to buy a nice safe stock that pays a dividend.

Happy Holidays!
Cherie
Reply
Leonila Premium
My sincere advise is you must been very careful on selecting the company that you'd investing your Money.
There are so many Binary options platform which are not truly reliable. This are this companies who are SCAM.
On the other hand, there are also some Binary Option Platform who are truly reliable and have no problem at all once you wish to withdraw you Money or profits.


Leonila
Reply
62255Cherie Premium
It's true Leonila...there are reputable companies out there. I guess I should have mentioned that!
Reply
Leonila Premium
Thank you for you sharing your taughts sequel on my comments prior to a certain queries on Binary option platform.
Reply
MsMoneyHoney Premium
Or whole life using the infinite banking concept. A whole life policy with a mutual owned company earns interest AND dividends, and you can borrow against it too thus never needing a loan from a bank - again. Very nice to call and ask for a check v asking for a loan... filling out applications, and going through hoops. You don't need that. There's a better way....
Reply
BelieveItYes Premium
Hmmmm thank you Cherie for your time and advice, I really appreciate it.
I will keep doing thorough research on the subject! :)
Happy new year!
Sarah
Reply
mjdimarco Premium
From my perspective, the biggest concern a neophyte to binary options needs to know is this: You either win or lose. If you lose, you lose your whole "investment" at once.
Reply
Leonila Premium
If you don't Know what you are doing and you do not have any strategy Whien you do your daily trade, then yes it's true that you can lose you'd whole investment at once.
The most common mistake that a newbie trader should avloid is not having the good technical analysis regarding the the daily flow of the market.
Reply
BelieveItYes Premium
I agree
Reply
Leonila Premium
Hello Sarah
My apology , sense am using my I-pad With the Swedish language installed on it so sometimes its automatically pop up some Swedish Words.
Ok.It's Banc de Binary.
And it suppose to be I would like to say Hello.
Really sorry for some mistakes.
Hope you understand.

Thanks,

Leonila
Reply
BelieveItYes Premium
not to worry =)
Reply
Leonila Premium
Hi Sarah
Leonila here,
First , I should like to say Hello to you . It's been a couple of months now that I have'nt keep in touch within WA community.
Right at this very moment am not so well. My mom. was very very sick ( cancer).
Anyway, you asked some queries prior to a Binary options?
The answer is it depends upon the plattform you are going to choose.
I highly recommend e-Toro and Banchef De Binary.
This is the best company With a very good reputation.
They can provide you the necessary training With ltheir Demo Accounts until you learn and understand tre whole process.
My advice to you is you have to undergo any training availabe as what I did to analize the Market.
You can visit e-Toro website or Banc de Binary.
You asked if you can earn Money out of it . Definitely. But it need sa hard study about the finacial Market.
Right now , am very much on Day Trading.
I am most interested on financial indexes and really find a really super good mentor on Day Trading.
I hope so much this info Will help you.

Have a wonderful day,

Leonila
Reply
BelieveItYes Premium
i am sorry about your mom =(... my prayers to you Leonila
I am using eToro... made some money but also lost some lol. I did follow someone's trades and most of the time he was really good. But I honestly don't like trading and all these numbers and "unpredictable" (to me at least lol) changes
I will look into banc de binary, thanks
Reply
Leonila Premium
Hi Sarah
My heartfelt thanks for your kind thoughts regarding my Mom, highly appreciated.
Anyway, regarding Binary Trading , my friendly advise to you is that never trust your Money to the hand of a certain stranger. To copy or follow a trader is not really the best option if you want to succeed in this particular line of business.
You really need to study and analize the daily flow of the global market.
On the other hand,I myself is concentrating on Day Trading.
I am so very lucky Coz I got a very good Mentor who is very successfull in this Fields.
Similar to Affiliate Marketing , Trading required a huge effort, persistent and consistency to earn revenues.
The only difference is that in Day Trading you really need to focus and study hard the strategy to get the result you dream of and minimize your lose.
Well , what I've tried to say is that if you really interested this kind of online business then I suggest that you must learn and do the job by yourself.
Nice talkiing to you again.
I wish you all the best of 2016!
Prosperity, success and .happiness.

My warmest regards,
Leonila
Reply
Martstervt Premium
Hi Sarah, You have some good comments here. I briefly tried it with a small sum and found that if I did succeed it wouldn't be worth the time spent.
Markets World is a broker that offers a free demo account and you can invest as little as $20 and make $1 bids just to try it out.
You are picking if one Forex, commodity, or stock rises or falls against another in a time that you choose. You can know what the trends are but they still rise and fall in unpredictable ways.

Marty
Reply
BelieveItYes Premium
Thank you Marty for your insight... I don't like the unpredictability of all this lol... I'm collecting info, advice mostly for an article I'm writing... I am not going to dive into trading, it's not for me lol
I'm looking for someone who is earning good money with it and can explain how they did it ^^
Happy new year by the way !
Sarah
Reply
Martstervt Premium
Happy New year Sarah, to find someone successful you may want to try to talk with a broker from a brokerage or a signal provider. You will then open your self up to their sales people. Maybe the exposure would make them willing to speak with you. Just a thought.

Marty
Reply
digpacitti Premium
Very good information given below. I have tried investing with options but don't know what binary options are. The one thing I do know is that no matter what our human emotions take over.

You can do all the paper trading you want practicing a system and you will probably do very well on paper. That is easy because you have nothing really invested and thus emotion does not take over.

But once you put your real money in there then you find out how fear and greed can take over and have you ignore all your rules. So as many people below have said, unless you have very deep pockets or know this stuff inside out it is more of a gamble than an investment.
Reply
rossky Premium
Over ten years of my life I dedicated to researching the stock market. And, the best decision was to quit. That machine is like a casino and designed to take money from you. The more you want from it the higher the chance that you will fail sooner rather than later

Don't buy into any of the success stories. Here in the US almost every other month someone wins over 100 million dollars playing the lottery but it's never me and more than likely never will be...
Reply
BelieveItYes Premium
Hmmmmmmm thank you very much for your time and advice. I also kind of think this is like wining the lottery and I'd rather spend years working hard to build a sound business
Thanks again and happy new year!
Sarah
Reply
RockWA Premium
I've been trading for 7 years Sarah, and I can tell you that it is legit. But very very dangerous. "Lois is absolutely right. You can go to when you have a million dollar in your bank account to spend and you are not under financial pressure. You then can afford to lose some and gain some." If you can handle the pressure(Win or lose) then you can try for it for a very small amount of money that you can afford to loose.
With proper knowledge, experience and discipline (very important) then you may succeed to it.
Reply
BelieveItYes Premium
Hey there!
Thank you for dropping by and leaving a comment, I really appreciate it. I was wondering if you could share a bit more of your story with me. What platform(s) are you using? How much did you initially invest? how much did you earn? How long did it take? Are you still trading regularly? Is it your main business? What were the biggest mistakes you made? Were did you get advice and training on how to invest your money? thanks! =)
Sarah
Reply
RockWA Premium
Hello Sarah,
My story:
BEFORE: I started trading in 2008---Self-study, webinars, video lessons books and online tutorials. Starting amounts that I lost...$500..$1000...$3000...$5000.in series ..Total investments lost (2009 to 2011) approximately $50000 to $60000...This is because I did not know what I was doing before...Overconfidence, furiousness, Frustration, desperation, pressure, greed, anger. ignorance, emotions and greedy brokers that took advantage of these emotions were the coz of my early defeat. After which I manage to realize my mistakes and recover around $ 65000, which means that in 7 years, It's like I have earned $5000 only which is not worth of my time, energy and money.
NOW: Yes I'm still trading...But this time, I am happy with small wins...$50...$100...$300..in a month....That's it.Don't want to be furious again...Discipline and contentment are the key...

Lesson: Nobody can predict the market price.There is always a surprise.News are late.Too many noises...False news...Useless programs....
Strategy: Position on highs and deeps
Proper positioning of stop losses
Once you reach a target (Take profit) then take it no matter
what (don't be greedy)
Contentment
Rest after a trade (No overtrading)
Combine Technical and Fundamental analysis
Accept your losses and never be angry or take revenge on
market.
Don't pray- It won't work-The market price will go wherever
it wants no matter what you do/think/say.
Small amount of bets (2% of your capital only)
These are the important lines. You may just ask me for
more technical and a bit of a fundamental lessons.
My platforms: Avatrade(If you are discrete), Etoro(If you are social), and Plus500
The best for me: Avatrade
It's not my main business because I am taking small profits only. Though I am planning to get BIG when I see the signs for the rise of OIL and Gold and ride with it (It will still take time in my opinion)....

Tip: Brokers should guide you and not ask/persuade you to keep on depositing your money every time you loose.
Discipline...Discipline....Contentment....Contentment.....

Hope these will help...

P.S. I am planning to include in my website: free trading tutorials (Maybe 4 months from now)...I'll inform you when it's ready..

Rocky
Reply
OldMCSEGuy Premium
Binary options is a process in which you actually wager on stock activity and you either win or lose. I am in TD Ameritrade. Our options area is something called Think or Swim. It explains various options and those times types of entities and the strategies involved with it. It requires constant study and a trend analysis utility. It is not for poor people who cant afford to lose the wager.

When I was at CONOCOPHILLIPS nearly everyone there had a six or seven figure salary. Kind of the opposite of the WA community. Everybody was very sure of themselves very well educated and had lots of cash flow. I have seen people put up $10,000 in the morning and have $35,000 by the end of the day. In fact I have never seen anyone lose. I was too scared to put up my money because if I lose like that I get very angry. The only websites that I know of are inside of Charles Schwab, Ameritrade, eTrade.

It's best not to listen to some Yahoo. Find someone who actually has been involved with it.

I went to an Ameritrade seminar and learned about their build a Millionaire program. That's how I got involved with it.
Reply
BelieveItYes Premium
Hi! thank you for your time and comment. How much does the millionaire program cost? Are you making good money with ameritrade ?
I am trying to find people who have succeeded and are willing to share their tips and advice, not people who are faking their success and only trying to rip people off... but it's easier said than done lol! lots of sharks out there.
I am sure with the proper training and mentors you can succeed, but I haven't found any of them yet ! lol
Reply
DavePaton Premium
Yes, it is just like gambling. I have lost a lot of money with binary options. Stay away from them, try to focus your energy on making a decent website.

Just one other thing, if anyone does decide to try them, steer clear of OptionRally!. Terrible company!
Reply
BelieveItYes Premium
Never heard of OptionRally... I will look into it and review it ahah! thanks
Thank you for your time and advice
Happy new year!
Sarah
Reply
DavePaton Premium
Thanks Sarah, happy new year to you as well :)
Reply
Mike1942 Premium
Pure and plain gambling! You might as well put your money on games in a casino!
Reply
BelieveItYes Premium
Hmmmm I hate gambling lol
thanks for your time
Happy new year!
Sarah
Reply
Loes Premium
Binairy options you can go to when you have a million dollar in your bank account to spend and you are not under financial presure. You then can afford to lose some and gain some.
I have taken a trail account some years ago, and I lost $800 in about 4 hours. Fictive dollars luckily. You do need some financial comfort to go into this business.
Reply
BelieveItYes Premium
I think you are right, it's easier to earn millions when you already have millions lol
I will keep doing some research ^^
Thanks and happy new year Loes!
Sarah
Reply
Loes Premium
Happy New Year back Sarah:)
Reply
tosh66 Premium
Hi Sarah,
My advice is stay away from it, I lost a fair amount of money with binary options trying to make money online, it is a gamble, the experts might make money, but they study the markets 24hrs a day, 7 days a week, then there's no guarantee they will win.
I searched and hunted high and low for a system or product that would help, I tried a few and believe me there are a lot out there that take your money and don't work. they are all scams.
The markets can be very volatile so you don't know which way they are going to go from one minute to the next, it's almost like predicting the future, and no system or tool can do that, this is why people lose a lot of money.
Binary options itself is not necessarily a scam, but it's a very difficult way to make money and you need to invest a lot.
It's the products and systems out there that are being sold to people like us which claim they can do the work for you and make you millions that are scams.
I would suggest if you are going to write about it, I would advise people to stay away from it.
The only people that really make money from it, are the Brokers,

WA is still the best way to succeed and you won't lose thousands doing it.

Best wishes and have a very Merry Christmas.
Reply
BelieveItYes Premium
Thank you for your time and advice. I also think binary options is not a scam but a really difficult and time consuming (and stressful) way to earn money online.
I will keep on doing some research =)
Happy new year!
Sarah
Reply
BoyRacer Premium
The only people who make money with anything with the word Binary in it is the people who created the option. Leave well alone :(
Reply
BelieveItYes Premium
Hmmmmm I'm an optimistic, I'd like to find people who are actually earning good money trading, because they know what they're doing and got the proper training... there's got to be such people out there! lol
Happy new year !!
Sarah
Reply
geraldkew Premium
I've a better chance with the lottery, cheers!
Reply
BelieveItYes Premium
ahahah lol which reminds me that I might have won yesterday's lottery ^^
cheers
Sarah
Reply
geraldkew Premium
Good Luck,cheers!
Reply
BelieveItYes Premium
=D thanks
Reply
stn67 Premium
You might as well ask whether it is possible to earn money to go to the casino. If you ask me so no it's pure entertainment not a business that is stable
Reply
BelieveItYes Premium
Hmmmmmm yeah I also have this feeling about binary options... so volatile. I'm trying to collect as much information as possible for a friend of mine who really wants to become rich with binary options... but I wouldn't want to see him get ripped off and depressed...
Thanks for sharing your opinion!
Merry christmas
Sarah
Reply
stn67 Premium
Yes use only money from it as you can afford to lose
Reply
Everlight Premium
I think the answer from this question blog can cover your questions: I'll stay away from it :)
Reply
BelieveItYes Premium
Hmmmm yes I have already read this blog post lol... I was looking for more information ^^
Thanks though for your time and advice!
Cheers
Sarah
Reply
paulgoodwin Premium
Stay away it is all a scam - trust me because I have a cousin who know one of the people involved and told me all the horror stories
And it is same every where stay away
Reply
BelieveItYes Premium
Hmmmmm thank you for your answer. I am not particularly interested in binary options (I hate numbers and stats lol...) but a dear friend of mine is tirelessly trying to earn money with it and I'm concerned he'll lose all his time, money and energy... =/ Which is why I wanted to collect as much information and feedback as possible!
Thanks again
Sarah
Reply
DavePaton Premium
Hi again Sarah, don't let him get into binary options. For a start, the amount you have to trade is generally quite large to even withdraw your funds and it is just so hard to consistently make money with it. I have been searching for a way to make money online for years and WA is the best thing I have come across so far, If he wants to try some form of online trading, get him to learn about forex. Forex is not a scam. When you invest money in the bank, they go and invest it in the forex market. They give you the measly amount of interest and keep whatever they make on top of that.

However, it does take a lot to learn all you can about the forex market. It is possible to do quite well with it and I have a friend who is doing OK with trading forex. But the key is education, learn, learn, learn and open a demo trading account. Don't go live until you can double the demo trading account.
Reply
BelieveItYes Premium
WA is definitely what's worked best for me but my friend is really interested in binary option, forex, trading and alike and he's got a very good understanding of it.. but lacks a mentor or good training. I'm looking for honest people who will be willing to share their tips and advice.
Would you mind giving my contact to this friend of yours? Perhaps he can share his story
Thank you again for your time
Blessings
Sarah
Reply
DavePaton Premium
I have asked him before if he could help me with my trading but he has said that a lot of his trade decisions have many other factors influencing his decisions, a lot of discretion involved and he couldn't possibly help me understand what he does as it comes the experience he has gained from his 30 or so years of trading.

I have a list of sites from when I was trading forex and I could pass them onto you to let him know.

These sites are in relation to forex but some can be applied to binaries, as they use similar instruments, eg, trading of pairs etc.

http://thepatternsite.com/
http://www.forexfactory.com/
http://www.babypips.com/school
http://www.fibonaccibook.com/
http://www.forexfibonacci.com/
http://www.forexstrategiesresources.com/metatrader-indicator-mt4/various-metatrader-indicator/
http://forex-indicators.net/
http://forex-strategies-revealed.com/
http://myforexdownloads.com/
https://www.forex4noobs.com/
http://www.investing.com/
http://www.babypips.com/tools/forex-calculators/positionsize.php
https://www.myfxbook.com/
http://www.winnersedgetrading.com/


Hope these help him a bit :)
Reply
DavePaton Premium
I would be happy to talk to this friend of yours Sarah. I know a bit about forex trading and would be willing to share what I know with him :)
Reply
BelieveItYes Premium
You are awesome =) I will send his info through private message
Reply
Top