Forex vs Options?

tomorton

Legendary member
8,083 1,194
If you mean Binary Options, these are basically a bet, in which the "trader" receives a payout or loses their investment, based on if the price moves in their direction or the opposite direction. This must occur before the BO's expiry date. Its a win-all or lose-all proposition, so if you are wring by 1 pip, you still lose your stake. The BO firm decides what the price is, there's no right of appeal. Its basically gambling like on a fruit machine.

Binary Options have so often been offered by scam operators that they are illegal for offer to the general public in many countries, including the UK, the EU, Canada, Israel etc..
 

Windlesham1

Well-known member
441 31
Got to an ATM draw out all your cash, andset fire to it. There- saved you 6months misery and about £6,000. Or....... you could take some time to educate yourself
 
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cantagril

Senior member
3,065 874
Got to an ATM draw out all your cash, andset fire to it. There- saved you 6months misery and about £6,000. Or....... you could take some time to educate yourself
...but that doesn't sound like fun at all, and seems suspiciously like work.

The ATM option(!) has got to be a winner - £250 withdrawal max (in the UK) so it's a real bargain.

Always good to hear the Voice of Experience....
 
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daibeer

Newbie
2 1
Hi, I have experience of both forex and stock options. I have to say, I was not very good at forex, but that isn’t to say it won’t work for you. Needless to say I wasn’t profitable. However, options I am quite good at. It’s a bit more study and harder to understand but this style of trading suits me. I would only trade the American market. There are are plenty of tutorials but the best by far is Tastyworks on YouTube. They offer lessons for brand new starters. Take your time learning the lessons and never skip to the next lesson until you understand the last lesson. Persevere and it is very rewarding. Good luck.
 
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Windlesham1

Well-known member
441 31
As forex is binary I think each has to find their own path as to what works. Options give us a multitude of ways to place a trade, thankfully.
 

cantagril

Senior member
3,065 874
Agree completely with daibeer and swindlesham:

As I have mentioned before on T2W, I'm a crap trader...i.e inefficient, inconsistent, easily distracted and on forex etc am generally erratic when it comes to making moolah. Sometimes I surprise myself that in the long run I'm profitable.

When I was into options*, I had all of the same issues but frankly, unless you really really ask for it (like writing naked in volume) then the probabilities of making money on a regular basis are very much in your favour, as against Forex where they're definitely not.... and any one of your foibles and peccadilloes can lose your shirt for you.

*which I will be again; soon, I hope...
 
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