If you are interested in trading you probably already know what a binary option betting is. This type of trading is enjoying a huge popularity and is growing more and more every day. Some of main reasons for that are: the quick start, the low level of preparation needed, the way of trading is easily understandable, low trading amounts and of course, the high profit and the predictable risk.
So is it worth it?
For many investors the answer is: “Yes”, but it basically depends on what kind of person you are. If you are targeted to high incomes and you wish to take some risk – binary options are the thing for you. If you prefer a slow but steady income – put your money in a banking account.
That’s it! It doesn’t matter if you are a beginner, an enthusiast or a seasoned trader, you can be profitable either way. Of course, if you have some previous experience you may be sure that you’ll learn “binaries” faster. Don’t forget, binary trading does not need as much analysis. For example, if you’re trading Above/Below options you shouldn’t care how much the price rose or fell. One pip is enough for a put or a call option and to expect to be in the money. If you are the new kid in the binary option block, just read more and try not to be overconfident. Do some dry training before jumping in the action. Actually, that is a good idea even you have a long experience and a vast understanding of the asset.
My advice – if you know what you are doing, do it! If you are familiar with something, trade it.
If you have some FOREX experience, for example, you should take advantage of it. Probably there are binary options for your favorite currency pair.
If you don’t have any trading experience, but you’re interested in, let’s say mobile phones. You’re already following the related news; why not to make some money from it? You can check out the binary options of Apple, Samsung or Nokia and trade on the news. In fact, that might be the easiest way to start. But don’t stop there, if you learn more about the binary trading you can become much better at it.
It doesn’t matter what you enjoy: cars, sports, fast food, computers. There are a lot of assets, so it won’t be so hard to find something to your liking.
Act boldly and you will be rewarded. But if you are not sure, wait until you are. Be careful and don’t act irrational or stupid.
The information in the above analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.