Has anyone tried trading binary options online?
By elsino91
@elsino91 (440)
Poland
April 8, 2013 11:56am CST
I heard about it a long time ago, and always thought it to be too risky. But recently I've started practicing on a website that allows you to practice on a demo account with virtual money. I'm thinking about starting to use my own money trading 60 second binary options because those seem to be going well for me.
Before I do so I wanted to ask if any of you have traded binary options and come out with profits? I mean, to me it sounds quite achievable. If I can do it with a demo account why shouldn't I be able to do it with a real one?
3 responses
@tiffnkeat (1673)
• Singapore
9 Apr 13
Initial deposit is probably the first time you put money in. Maybe that won't be the last time, so you could indeed end up losing more...and more...and more...
It's your money. Guard it well.
@elsino91 (440)
• Poland
9 Apr 13
oh yes, that makes sense. Once you lose all your money most people feel the need to earn back what they lost and so they deposit more money into their account so they can trade again. But then they end up losing that too. That's the problem with a lot of gamblers.
@smacksman (6053)
•
8 Apr 13
Much better to open an account with a forex agent then open and close trades at the time you want, not a fixed time.
I have been doing this for years and quietly making money.
Tips.
1. Don't be greedy. Take a profit when it is reasonable. Don't hold out for the big bucks - it rarely happens.
2. be prepared to have the courage to take a loss. It happens.
3. A trial account usually works on a large 'investment'. Be prepared to adjust to smaller profits when to put your own money up.
4. Only put in what you can afford to loose.
5. When you open a trade PAY ATTENTION! Do not go to eat, go to the loo, go for a walk, ... Sit glued to the prices and be prepared to act quickly.
6. If you set upper and lower limits to your trade, they can be wrecked by spikes - unusual prices that only exist for a second and close your trade and usually at a loss to you.
I enjoy the gambal but I can only concentrate for short bursts at a time as I have a life to lead.
@smacksman (6053)
•
8 Apr 13
Won $632 up from $300 stake over 2 years approx.
Several hours a day to start with. Now I only trade when there is a big event. Mainly in Gold when people are rushing to hedge.
GoMarkets.
I'm always honest.
Binary options is not what I'm in. I trade in Forex. Sort of the same but different.
@Hanser1016 (80)
• China
9 Apr 13
Hi elsino91
I never heard about this before,so sorry for not offering help.But maybe is truly a good way to earn money or something?
