Can i make a living trading binary options? is this too risky?

Can I make a living trading binary options? I've been doing a lot of research on binary options and know that its a financial option where the payoff is a fixed monetary amount or nothing at all. I have been following a few investment bloggers online and they seem to be making a decent living with their cash-or-nothing binary options. I understand the main concepts of the all or nothing calls and puts as well as the all or nothing assets. I just wanted to know if all this was a scam or whether you really can make a living trading binary options. I know @Miles has experience with binary options and would be grateful if he could share his insights.

Like everything you can make a living with binary options if you get good at it. The reason why investors like binary options is because they have a high payout with the cash-or-nothing binary options. My only criticism is sometimes the options are skews in the favor of the house (broker) which means that they always win in the end. To get good at binary options you must understand the formulas behind them and then work on probability models to find out what the most profitable trade is likely to be because you either win or you don't.

You also need fundamental and technical analysis skills on the underlying instrument to stack the investment in your favor. Like I said, it is possible to make a living with binary options however I prefer stocks and Forex because its less complicated and the reward is very similar. If you are interested in trading binary options check out the video below. The video teaches how to make money on binary options with a 60 second strategy for people who are busy.

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