A good living of binary options?

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SwingTrader24

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Hi all

I was wondering if anyone had a good living (2000$ - 3000$ or more) per month with binary options.

If so, maybe you could explain your money management?

Thank you
Trade safe

SwingTrader24
 
Bull Institute

You can certainly make a good living of trading for sure,

I would recommend to implement Options into your overall trading strategy, have some diversification, do not focus only on options...
Learn about other instruments such as CFDs (contract for difference) that are available in Germany. Diversify your portfolio and learn about economics, you will then have a much better understanding of the mechanics and you will be able to profit from the pockets of inefficencies in the market, consistantly.
 
Bullinstu said:
You can certainly make a good living of trading for sure,

I would recommend to implement Options into your overall trading strategy, have some diversification, do not focus only on options...
Learn about other instruments such as CFDs (contract for difference) that are available in Germany. Diversify your portfolio and learn about economics, you will then have a much better understanding of the mechanics and you will be able to profit from the pockets of inefficencies in the market, consistantly.
Click to expand...

Great, thanks for your reply ;)
 
SwingTrader24 said:
. . . I was wondering if anyone had a good living (2000$ - 3000$ or more) per month with binary options.
Click to expand...
Hi SwingTrader24,
Welcome to T2W.

I don't know of any traders who make a consistent profit of any kind from binary options - let alone a good living. I accept fully that this doesn't mean necessarily that none exist, but I suspect they are very few are far between.

The mechanics of binary options are simple to understand, making them very attractive to novice traders. Making consistent profits on a live account (as opposed to a demo account) is rather less straightforward. If this arena appeals to you, do your research and conduct thorough due diligence first, otherwise you'll almost certainly lose most - if not all - of your money.
Tim.
 
Trading for a living is not easy in start but after some hard work you can depend your living on it as trading binary option is a full time job so it is good if someone starts it as a hobby while doing their primary jobs and once they start earning good amount they should transfer totally on their binary option trading.
 
It's possible -- but it will take some time before you master the craft and all of its little intricacies :-0
 
Binary options are the hardest of all trading instruments to make money from, principally because the buy/sell spread in relation to the premium and profits is huge. on a 50:50 bet you will need up to 60% win rate to break even.
 
Besides, binary options is more of a gambling rather than trading, the only difference is that you have a chance to win of about 10%. So if you feel lucky - you may try, but I'd rather not expect it to be a monthly living.
 
If i were u...

I would start to get to know this world of trading and then make it a full time job.
peace
 
don't do it, after 3 months of playing around with binary options i found this video

Basically the fact that you can lose everything you put in is completely dumb. You can make significantly more with cfd. I did excel calculations and came to the conclusion since you will not have a win rate above 66 percent you will essentially make less than half of what you can make with cfd. Binary options feeds off of fast money desires
 
As you are a retail trader - I would stay away from any products that are not traded on a government-regulated exchange. There are too many bucket shops that rip you off by manipulating prices and taking the other side of your trades, it is hard to distinguish honest brokers.
 
Why waste time with binary option when can get better RR ratio with traditional option trading.
 
sun11 said:
Why waste time with binary option when can get better RR ratio with traditional option trading.
Click to expand...

I suppose the main reason is how apprehensible binary are for a trader. This is the closest to gambling as trading ever gets.
 
Hello

I have been making a living, more than the amounts you mentioned. But I did not make it straight away.. I had to go through a lot of Binary brands and I got rubbed out of my money more than once. The secret is to not give up, learn something new about binary everyday (almost every binary website has some free article, videos act.) and the most important thing: to find a broker you can trust. Mine is Tradorax.

Good luck and don't give up, it takes time to make a living off binary options.
 
Daniel Stuart said:
Hello

I have been making a living, more than the amounts you mentioned. But I did not make it straight away.. I had to go through a lot of Binary brands and I got rubbed out of my money more than once. The secret is to not give up, learn something new about binary everyday (almost every binary website has some free article, videos act.) and the most important thing: to find a broker you can trust. Mine is Tradorax.

Good luck and don't give up, it takes time to make a living off binary options.
Click to expand...

Good luck with that........I think most opinion on this forum is stacked against the binary route to profitability

N
 
I guess binary option trading is easier than forex trading and i dont think it is gambling but a fair deal with no hassle of mentioning stop losses/take profit, no issues of spreads etc. All you have to predict that either the underlying asset value will increase or decrease within the specified time frame and if your prediction goes well you win or otherwise lose. The return payouts are good so far in binary option trading. Moreover, many traders used binary options to hedge against there forex trades.
 
progix said:
I guess binary option trading is easier than forex trading and i dont think it is gambling but a fair deal with no hassle of mentioning stop losses/take profit, no issues of spreads etc. All you have to predict that either the underlying asset value will increase or decrease within the specified time frame and if your prediction goes well you win or otherwise lose. The return payouts are good so far in binary option trading. Moreover, many traders used binary options to hedge against there forex trades.
Click to expand...

I'm just starting to look into this stuff, so I wanted to ask - how exactly do you hedge against forex trades using binary options? I mean, so far I've only been told of hedging using the same instrument, but picking opposite bets. So I've thought that for hedging you need to know the correlation between those trades, don't you?
 
NVP said:
Good luck with that........I think most opinion on this forum is stacked against the binary route to profitability

N
Click to expand...

I guess it depends on how much knowledge and experience you have and who you trade with isn't it?
I had my share of losing and I had changed a lot of platforms and brokers until I found one that is right for me. The fact that the binary market is full with scammers does not help at all.
But in general, why would you not manage to make profit from binary options if you know what you're doing? It's not that different from trading in the actual stock market: it is a gamble only of you really don't know what you are doing isn't it?
 
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