Is binary option trading a good idea? want to make money in spare time

Discussion in 'Personal Finance Q & A' started by JenniferGo, Aug 2, 2016.

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  1. JenniferGo

    JenniferGo Moderator

    I'm looking for a way to make money in my spare time and wanted to know if binary trading was a good idea. I have a good grasp of mathematics and have studied all the cash or nothing calls and puts as well as the cash or nothing assets. Everything makes sense to me but I am worried about some of the brokers who skew the probability so they win more. Anyway, has anyone had any experience with binary option trading and most importantly is binary option trading a good idea? I can allocate a few hours a day to this and was wondering if it was feasible to earn monthly income from binary trading.
    Miles likes this.
  2. Miles

    Miles Newbie

    I trade stock, Forex and Options and in my opinion they are better than Binary Options. Is binary trading a good idea? I think it depends on how you perform. Some investors are suited to stock and cannot make profit with options or Forex. For other investors only Forex makes sense and they struggle to make the transition to Options or Stocks. Binary Options are very attractive because you can make a lot of money with the Cash-or-nothing calls and puts, but as you said I suspect these brokers skew the probability so that they always win. Personally I think Binary Options can be categorized as gambling and prefer Normal Options, Stocks and Forex.

    I think you should open a Binary Options Demo account to see how well you perform. You can also compare your results to a demo Forex and Stock account. This is exactly what I did to see which investment I perform better in. For me Forex was much easier to invest in and suited my skills but it is different for everyone. The video below shows a trader make 900 dollars a day using a 5 minute Binary Option strategy, it is possible but it does take time.

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