Is binary options a good way to make money? anyone doing it?

Discussion in 'Passive Income' started by JamWithMe, Aug 2, 2016.

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  1. JamWithMe

    JamWithMe Newbie

    Is binary options a good way to make money? I've been reading a lot of forum posts about people making money with binary options and wanted to know if they have had consistent success. I'm looking for a system which makes at least 500 dollars a month so I can pay off my debt and start investing for the future. I read about how some brokers take advantage by skewing probabilities and how the style of investing can be addictive. I understand all the cash or nothing calls, puts and assets but wanted to hear from someone who is making profits consistently. If anyone has got experience and finds binary options a good way to make money please share your experience.
    Miles likes this.
  2. Miles

    Miles Newbie

    I've tried making money from binary options but I am more suited to stocks and Forex. I think whatever you decide to do you need to be proficient in the area. If you do want to make at least 500 dollars a month on Binary Options you need to know absolutely everything there is to know. This inlcudes

    1. How binary options work
    2. All or Nothing Calls and Puts
    3. Black-Scholes Formula
    4. Technical Analysis of Stocks
    5. Fundamental Analysis of stocks
    6. Candlestick Analysis
    7. Money Management strategies

    Once you have all the above under your belt you need to start trading with a dummy account and experiment on strategies. Once you have six months of success and profit under your belt you can start trading live. Making money trading binary options is possible but you need to put in the groundwork beforehand.
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