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  • FIRST POST
    • jdw2000
    • By jdw2000 7th Mar 17, 4:37 PM
    • 415Posts
    • 109Thanks
    jdw2000
    Binary trading
    • #1
    • 7th Mar 17, 4:37 PM
    Binary trading 7th Mar 17 at 4:37 PM
    Bloke on TV reckons he got rich doing this... any experience/knowledge of this amongst the esteemed members of the forum?
Page 3
    • grey gym sock
    • By grey gym sock 9th Sep 17, 9:23 PM
    • 4,444 Posts
    • 3,992 Thanks
    grey gym sock
    Thank you for joining up to tell us that - but I think you are wrong. Binary Trading is great for the web sites that facilitate it.
    Originally posted by le loup
    as a shareholder in IG group, i agree.

    i urge everybody not to try binary trading. but if you insist on trying it anyway, please do it with IG group: your loss will be my gain

    I suggest you learn the basics and see if trading is for you.
    Originally posted by Alexbranston
    you've tried to moderate your claims about binary trading, but that's still dreadful advice.

    it's just gambling, with the odds tilted against you (so that the likes of IG group can make a profit). there is nothing worth learning to be learnt about it.

    at best, you will have wasted many hours, for no recompense, before giving up. but there is a risk that you will think it is for you, because of an accidental run of good luck - something that can happen to anyone - and as a result, you will end up betting with real money, and losing the lot, before you realize your mistake. or perhaps you'll never realize it, and will end up complaining in forums about how a binary trading site cheated you in some way you can't quite explain, despite it being a genuine binary trading site (i.e. a bookie, out to make money by setting the odds so that you lose more than you win, as opposed to a scam site which just nicks you money - both kinds of site do exist).

    if you're prepared to put in some work and to take some risks, then why not just do some paid minimum-wage work (or something better, if that's open to you), and then invest all your pay (after tax) in a well-diversified stock market fund, and wait? with that method, you'll definitely get something back, but it's very uncertain how much. but the key point is that the odds are then in your favour.
    • greenglide
    • By greenglide 9th Sep 17, 9:24 PM
    • 3,118 Posts
    • 2,029 Thanks
    greenglide
    Well its easy really. My system is to double the size of the investment bet if I lose.

    Simple and straightforward provided you have an unlimited money supply and provided you can always place another bet of twice the size.

    What can possibly go wrong
    • CBaker
    • By CBaker 11th Sep 17, 9:26 AM
    • 38 Posts
    • 64 Thanks
    CBaker
    There is a great series of articles on Binary Options by the FT. Bottom line is the house always wins.
    • jimjames
    • By jimjames 22nd Apr 18, 11:25 PM
    • 12,659 Posts
    • 11,333 Thanks
    jimjames
    Bloke on TV reckons he got rich doing this... any experience/knowledge of this amongst the esteemed members of the forum?
    Originally posted by jdw2000
    Is it this bloke on TV?

    He's taking legal action tomorrow about fake adverts using his image/name saying he promotes binary trading.

    https://twitter.com/MartinSLewis/status/988156954047590403
    https://blog.moneysavingexpert.com/2018/04/20/martin-lewis-to-sue-facebook/
    Remember the saying: if it looks too good to be true it almost certainly is.
    • Reaper
    • By Reaper 23rd Apr 18, 8:50 AM
    • 6,280 Posts
    • 4,531 Thanks
    Reaper
    Is it this bloke on TV?
    Originally posted by jimjames
    I doubt the OP will see your question. He stopped posting just over a year ago.
    However it is surprising MSE doesn't have a News story on the Facebook action yet. Surely this is the one time they ought to be ahead of the news channels.
    Last edited by Reaper; 23-04-2018 at 9:14 AM.
    • Lungboy
    • By Lungboy 23rd Apr 18, 9:45 AM
    • 1,432 Posts
    • 1,394 Thanks
    Lungboy
    I doubt the OP will see your question. He stopped posting just over a year ago.
    However it is surprising MSE doesn't have a News story on the Facebook action yet. Surely this is the one time they ought to be ahead of the news channels.
    Originally posted by Reaper
    I saw an MSE story about it this morning on Facebook of all places.
    • alanq
    • By alanq 23rd Apr 18, 11:33 AM
    • 4,018 Posts
    • 2,616 Thanks
    alanq
    It's in Martin's Blog and mentioned on the MSE Main Site Home page.
    https://blog.moneysavingexpert.com/2018/04/20/martin-lewis-to-sue-facebook/
    Last edited by alanq; 23-04-2018 at 11:39 AM.
    • Plus
    • By Plus 25th Apr 18, 11:31 AM
    • 355 Posts
    • 280 Thanks
    Plus
    Last night there was a TV program on in which a female presenter meets rich people. She stopped an expensive car in Sloane Square in London and asked the driver how he made his money. The driver was a young black man who said he made his money through Binary Trading.
    Originally posted by jdw2000
    Here's how the pyramid scheme works:
    https://www.theguardian.com/news/2018/apr/19/wolves-of-instagram-jordan-belmont-social-media-traders
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