Binary Trading.

SailorSam

I've met someone who works from home on the Internet doing a variety of things which all together make her a decent little income. One of the things we've been talking about is Binary Trading. She uses it to buy currencies and either makes or loses money depending upon the change in the value of the Dollar and Yen.
I've just had a quick Google and found this which seems to be saying it's not that easy and you could end up losing,
Has anyone ever had a go or got any experience of it ?

http://www.forbes.com/sites/investor/2010/07/27/dont-gamble-on-binary-options/

claret_mike

Be very wary - it's high risk - the companies involved usually are based outside the UK and therefore have very little regulatory protection and I seem to recall when researching this before, lots of complaints about companies not paying out etc.

In essence binary options trading is gambling. You are betting on an event happening.

Search investing forums and spread betting forums

zugzwang

I used to trade with a broker where binary options were available.

It's better than forex as your losses are limited, and better than betting on horses as the odds are better. Although better odds means its more addictive as you will lose less of the time. Do you have an addictive personality? (rhetorical question).

But it's gambling. Can you accurately predict whether the yen will finish up or down an hour from now? Getting it right 55% of the time?

Short term trends are unpredictable. Longer term trends you can make a reasoned guess because say you believe Japanese economy is strengthening, so yen should strengthen.But short term, markets will behave irrationally and you are as well betting on red or black on the roulette table.

Anyway, all I can add is I believe it's wrong to encourage anyone to gamble so I'd never recommend binary options to anyone.

shmeeko69

My trading journey involved Binary Trading and it seems to be the in thing at the moment with companies and vendors trying to promote it. Be wary of the "You Can't Lose" and "Double Your Betting Bank In 7 Days" quotes.

Like any form of trading there is always a risk, as you're gambling and there are always winners and losers in this business. If it was that easy or straightforward then, we would all be doing it and could retire early, but sadly that's not the case and it take's a fair amount of time and trial and error to get a firm grasp of how the market works and what effects movement.

All the best in what you decide to do.

James_77

[FONT=&quot]I have been reading a lot about trading with binary options from this website called 7binaryoptions, which what i found via google and others sites too. I would like to try it myself, but before that i would love to hear more someones own experiences about it. What bokers would be good for a newbie? What strategie to use? etc.[/FONT]

[FONT=&quot][/FONT]

Browntoa

7binary options...hidden ownership , no contact method on the website

low visitor count per month

don't waste your money......

andydiysaver

I'd say spread betting / binary betting etc is the crack cocaine of the betting market -far more addictive as returns (and losses) can be enormous


- more than that it's full of market makers and bots these days, what's 42 multiplied by 40237.34 - you can't do it in 2 minutes, a computer can do it in a microsecond - these decisions apply to the markets also


What I know about the markets is I'm not good enough, and I've tried plenty, doesn't mean I've failed, it means the stop loss was before the house car and valuables went, and down in the name of experience, I think it's possible to make money - but .0001% do at the expense of the other 99.something. More than that though, it's alogs these days not men in shirts and ties in the pit room - alogs are so fast they will clean you out


only way to trade these days, insider or alog, preferably both.

PlutoinCapricorn

This has been discussed a few times in the Savings & Investments board: it is considered unsuitable for amateurs and beginners.

austing

it is considered unsuitable for amateurs and beginners.

I took a huge gamble on binary, invest around $75, and gone after few days. Don't commit the same mistakes as I did.

VSN127

Stay away from ubinary, as I had very bad experience with them. I'm trying to claim the money via S75 and chargeback as the amount is over £30K.
Any suggestions on claim would be much appreciated.
Their website misleads that they are based in and registered in UK when they aren't, due to that they managed to trap so many people in their scam.
Have reported to ActionFraud, METPolice and FCA, also written to Isreal Securities Authority and Cyprus Securities Authorities.

Raspberry_Queen

What are alogs??