Binary Options - OptionBit

This is a discussion on Binary Options - OptionBit within the Fixed Odds & Binary Betting forums, part of the Markets category; Hi, I'm a bit new to the world of trading, so please forgive my ignorance, but I was looking for ...

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Old Jan 30, 2012, 12:30pm   #1
 
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Binary Options - OptionBit

Hi,
I'm a bit new to the world of trading, so please forgive my ignorance, but I was looking for some information regarding Binary Options, and in particular, the trading site 'OptionBit'.

The site gives you the option to choose whether or not the value of a currency (or other assets) is going to go up or down, and give you an 81% return if you call it correctly.

I found a strategy by a trader called Keith Jones 'The Lazy Day Trader' who claims to have come up with a pretty sound system of trading in small time periods (half an hour cycles) whereby if you bet a certain amount on the value going up, for example (£10 is his starting investment) and get it wrong, then you go again betting on the value increasing, this time with an amount such that the 81% profit would cover the loss from the first investment, and garner some profits (£26 is the suggestion he gives). If it fails again, then simply says it's going upwards again, with a larger investment which will again cover the previous losses (£65 is his next suggestion). This is done once more with an investment of £150 (if all else has failed hitherto), at which point he claims it's near 100% guaranteed that, assuming you're betting on pretty stable currencies, you will win.

Now I don't necessarily agree that it is near 100%, but using a dummy account on the OptionBit website, I made around $250 from an initial $500 account balance in a couple of days applying the same principle (albeit with slightly different, less costly figures).

To me, something doesn't seem right; it just seems a bit strange that a first time investor can be able to get such large profits so easily, and it if is that easy, why aren't more people doing it?!

I've also heard a few mixed reviews about the OptionBit website, with some people suggesting it can take quite a while for any withdrawals to come through.

As I say, sorry if I come across as very naive, but if anyone has any help or information regarding the legitimacy of this binary trading technique or the OptionBit website in particular, then it would be greatly appreciated

Thanks,
Stuart
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Old Jan 30, 2012, 7:07pm   #2
 
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Re: Binary Options - OptionBit

Stuart

Email optionsbit White Label Affliate program and apply to become their partner for inquiring. In the documents you would see how binaryoptions (which is a slot machine gambling game) works.

Binary Options come under gambling license. You are better off giving your money to charity or perhaps if its not a big amount and you want to enjoy losing it.

Your FIRST trade in the account would ALWAYS be a winner if you do indeed go about it.

I was about open a up binary options business myself but then did not continue. I think it requires around $15k or so setup. The main thing is getting new clients for your business.
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Old Jan 31, 2012, 8:16am   #3
 
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Re: Binary Options - OptionBit

StuDogg started this thread Okay, thankyou for your response
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Old Jan 31, 2012, 8:51am   #4
 
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Re: Binary Options - OptionBit

Quote:
Originally Posted by StuDogg View Post
Hi,
I'm a bit new to the world of trading, so please forgive my ignorance, but I was looking for some information regarding Binary Options, and in particular, the trading site 'OptionBit'.

The site gives you the option to choose whether or not the value of a currency (or other assets) is going to go up or down, and give you an 81% return if you call it correctly.

I found a strategy by a trader called Keith Jones 'The Lazy Day Trader' who claims to have come up with a pretty sound system of trading in small time periods (half an hour cycles) whereby if you bet a certain amount on the value going up, for example (£10 is his starting investment) and get it wrong, then you go again betting on the value increasing, this time with an amount such that the 81% profit would cover the loss from the first investment, and garner some profits (£26 is the suggestion he gives). If it fails again, then simply says it's going upwards again, with a larger investment which will again cover the previous losses (£65 is his next suggestion). This is done once more with an investment of £150 (if all else has failed hitherto), at which point he claims it's near 100% guaranteed that, assuming you're betting on pretty stable currencies, you will win.

Now I don't necessarily agree that it is near 100%, but using a dummy account on the OptionBit website, I made around $250 from an initial $500 account balance in a couple of days applying the same principle (albeit with slightly different, less costly figures).

To me, something doesn't seem right; it just seems a bit strange that a first time investor can be able to get such large profits so easily, and it if is that easy, why aren't more people doing it?!

I've also heard a few mixed reviews about the OptionBit website, with some people suggesting it can take quite a while for any withdrawals to come through.

As I say, sorry if I come across as very naive, but if anyone has any help or information regarding the legitimacy of this binary trading technique or the OptionBit website in particular, then it would be greatly appreciated

Thanks,
Stuart
Stuart

This method is nothing different than doubling up on red at a casino if you lose. However at a casino you have about 49% chance of being right,with these options you would win 50% of the time but would only get an 80% return. do not start your trading career using these,seriously unless you have a slight edge youd be better off playing the exchange games on betfair,more chance
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http://www.youtube.com/watch?v=6CnAsdQiGzs
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Old Jan 31, 2012, 12:34pm   #5
 
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Re: Binary Options - OptionBit

StuDogg started this thread Thankyou for the responses!

I can see the comparison to gambling (particularly with the strategy given by Keith Jones) but using a bit of logic, is it possible that it becomes less of a gamble, and more of an educated decision. For example, if the value is at its highest point in a long while, would I be right in thinking it's a safe bet that it will likely drop over the next hour or two (again, I'm new to this, so I'm more than prepared to see this opinion get shot down if needs be)?

Safvan, you mention that you will always win on your first go, but wouldn't the fact that it's based on actual figures (I cross-referenced them with some forex graphs) mean they can't simply let you win a few to lure you in, before decreasing the likelihood of success?

As I've said, the dummy account has been successful, and whilst I am skeptical. I'm unsure as to how the results could be any different to how they would be had it been a real account.
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Old Apr 12, 2012, 6:44pm   #6
 
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Re: Binary Options - OptionBit

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Originally Posted by StuDogg View Post
Thankyou for the responses!

I can see the comparison to gambling (particularly with the strategy given by Keith Jones) but using a bit of logic, is it possible that it becomes less of a gamble, and more of an educated decision. For example, if the value is at its highest point in a long while, would I be right in thinking it's a safe bet that it will likely drop over the next hour or two (again, I'm new to this, so I'm more than prepared to see this opinion get shot down if needs be)?

Safvan, you mention that you will always win on your first go, but wouldn't the fact that it's based on actual figures (I cross-referenced them with some forex graphs) mean they can't simply let you win a few to lure you in, before decreasing the likelihood of success?

As I've said, the dummy account has been successful, and whilst I am skeptical. I'm unsure as to how the results could be any different to how they would be had it been a real account.
I Tried the keith jones system awhile back, it's no good..

He has a new system now called 60 second profit, that don't work either.

Thankfully i have now found a good binary option signal company that is now making me a profit on a weekly basis.

I don't really want to say who it is as i don't want people to think like i am spamming. I was accused on another forum because i was a new member.

They were all very rude, there all a bunch of clowns.
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Old Apr 14, 2012, 3:25pm   #7
 
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Re: Binary Options - OptionBit

StuDogg started this thread
Quote:
Originally Posted by chris33 View Post
I Tried the keith jones system awhile back, it's no good..

He has a new system now called 60 second profit, that don't work either.

Thankfully i have now found a good binary option signal company that is now making me a profit on a weekly basis.

I don't really want to say who it is as i don't want people to think like i am spamming. I was accused on another forum because i was a new member.

They were all very rude, there all a bunch of clowns.
Lucky I steered clear then

Thanks for the response. If you do have the time to post the site you're referring to, I won't criticise!
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