There are millions of people in the internet searching on how to make money online and guess what? I belong to those millions of people. When I got tired with having a boss, the first thing I did was to quit my job and search the internet on how to make money online. After searching through the internet, Binary Options got my attention.
What I’m about to share with you is my personal experience when I started to trade on binary options but before that, I would like to give you some insight about binary options and how does it work.
Binary Options – Trading Platform
Binary options is a trading platform that gives you the opportunity to trade in a certain assets like, currency, commodities or stocks with a fixed reward and a fixed risk. The traders will get to decide whether an asset will go up or down and also, they get to decide the amount of time or set a time limit for the trade expiry.
When Winning a trade, you get to see the potential earnings of your trade depending on how much you risk or you bet. Imagine you are inside a casino playing a roulette and imagine that the roulette is your binary options platform. If your prediction is correct then you will receive your money back almost doubled and if your prediction is wrong then you lose all the money that you bet.
Some binary options platform give up to 92% return of investment in currency and the lowest I have seen is 30% in commodities. So if you risk a $100 on trading in a 92% asset and your prediction is right then you get your money back plus the 92% return of investment. A total of $192. Most of the Binary Options platforms offers an 80% return of investment and it is rare to see a platform that offers a 92% of investment.
That is how binary options works. But here is the question. Can you really make money through binary options or you are just like gambling your money in a casino without consistent income? Let’s find out!
Two Kinds of a Binary Options Trader – Smart and Gambler
When I started trading at a binary options platform you get to go an easy tutorial step on how to start trading. Most of the Binary options platform have these walkthrough part. There are various materials and tools for you to analyze the market and to understand the benefits in trading Binary options. Sometimes I do some research on the market but most of the time I tend to just follow my instinct.
Smart Trader – I am not saying they are genius. They do a lot of hard work to be smart. These traders know everything about the market. Doing research in different kind of assets and waiting for big news or events that will have a big impact on the market. Smart trader continuously researching on how he/she can maximize his knowledge to use in trading. They never stop learning and they do a lot of practice on technical analysis on the market.
Gambler Trader – Do I still need to explain this? You probably know what gambling is all about! LOL! Anyways, A gambler trader is the very opposite of the smart trader. Does not have the patience to do research. Does not read news and most likely do not have the time to do all the learning stuff. The very reason is these people are lazy and want an instant cash on their pocket. They want to trade right away risking their money without any knowledge and that would be considered as gambling. The results? The percentage win rate of a gambler in the whole world is not even 10% so absolutely not so good results if you apply gambling in binary options.
So what will you be? A smart trader or a gambler? I guess I am a bit of a smart guy but 80% a gambler. LOL. When I was doing my trading on binary options I chose to be a smart guy. I did research and learned a few things but somehow got tired and just went trading right away. I told myself I will just follow my instinct. And Yes! I lost everything.
Here is my No. 1 Recommendation on how to create a Profitable Business Online!
Study and Learn before it’s too Late
Don’t be like me when I started Trading. Binary options requires a lot of training and researching to educate yourself about the market situation. You need a lot of hard work and patience to make this as your profitable online source of income. Making money from Binary options is possible with the right tool and knowledge.
If you still want to continue trading in binary options with a gun but empty magazine, then trade at your own risk. Don’t let all your life savings take off just like that and soon regret that you did not study and do research before trading.
There are several trading platforms out there that offers you a demo account with a demo money for you to practice your trading before performing an actual trade on the market. So you better make use of that before proceeding on real money trade.
Not all Trading Platforms are Legit
You better do research before joining any binary options platform for your safety. There are tons of platform out there in the internet that offers you a profitable trading platform but are scams. Better Check each platforms or read some reviews on the internet before joining and signing up with your credit card.
Earning money from binary options is real if you are knowledgeable enough to trade, know how trading works, and trading with the right platform or broker.
Try it at your own risk
I would probably recommend Trading on Binary option if:
- Make use of the Demo account
- Do research on market analysis
- Study technical analysis
- study fundamental analysis
- have patience on learning
- Stop being Greedy.
If you just want to trade for gambling purposes then you better think twice before you regret.
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If you ever need a hand or have any questions, feel free to leave them below and I will be more than happy to help you out.
All the best,
founder of Affiliate Entrepreneur