It sounds hackneyed but it’s so true: Trading with binary options is very easy but trading successfully is so much tougher. That means that even a kid could trade with binary options but only a small fraction of all traders get it done to trade successfully. If you want to be part of this exclusive club then you should take your time and learn everything about the fundamentals. Some of these fundamentals may sound obvious to you and you may tend to skip some of these articles, but it’s really important that you understand the basics. Only then it’s possible to develop your trading strategies. First of all we’d like to get rid of some wide spread falsities:
Binary Options are for gamblers
No, that’s definitely not the case! Just because some traders don’t even care about their performance and are playing a guessing game does not mean that binary options are a game of luck. If you want to gamble you can also do that with stocks while selecting any random stock. Does that mean that trading with stocks is also gambling? Absolutely not! Just ask Warren Buffett if he had so much luck the last decades that he was able to win billions of dollars… Learn how trading works, create your strategies, stick to them and you will see that you’ll be successful.
Binary Options are unfavorable
A lot of CFD and Forex traders bring this argument to the table but they don’t know what they are talking about. They only see the fact that binary options only offer two possible payouts, that are on average worse compared to traditional trading like Forex trading. The reason is that you always have the option (that’s where the name comes from) if you want to execute your right to buy or sell an asset or not. It’s obvious that this right will cost you some money.
Binary options also provide traders with lots of advantages that you should not ignore. You can use them perfectly as insurances while daytrading or to profit from sideward movements. For example you can buy a “range option” and will profit when the price is not very volatile and stays within a certain range. This way you can get huge payouts of up to 400% – please try that with Forex or CFD trading in low volatility markets…
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