Anyone Knows How to Trade Forex Via Binary Options?

[moneytalks 10]

Hi Guys!

 

After doing some research about trading online. I stumbled upon Binary option and find it user-friendly. Although i dont know much about it, i feel that one can possibly win more and lose more money at the same time. Nevertheless, i think it's for someone like me who doesnt know much about trading.

 

Question: Anyone, who knows an effective way of minimizing loses in Binary options? Hopefully by experience and not textbook strategies.

[fxeconomist 11]

Hi Guys!

 

After doing some research about trading online. I stumbled upon Binary option and find it user-friendly. Although i dont know much about it, i feel that one can possibly win more and lose more money at the same time. Nevertheless, i think it's for someone like me who doesnt know much about trading.

 

Question: Anyone, who knows an effective way of minimizing loses in Binary options? Hopefully by experience and not textbook strategies.

 

Cutting loses? Well common sense suggest that you need more winning trades for that:)

But at the bottom try to gain better grasp of money management and it's importance in trading. Don't gamble and don't bank on luck - because it s a dead end way in trading.

If you still can't make a choice on trading platform I can suggest you to start on Optiontrade, I use this platform to hedge some Fx trades because of different risk/reward ratio there. Keep in mind that Binary Options is not Forex it just mirrors this market and similar to betting in other events like sport or others.

[CrazyCzarina 17]

Many traders who have been trying to become profitable but haven’t just yet reached that point, will find out that there is one uncertainty still remaining.

[marty_trader 1]

Binaries aren't designed for you to win in the long run 

 

learn to trade spot and get better at risk management, you'll do better overall vs binaries 

[4EverMaAT 10]

I agree with @marty_trader unless you are trading binary options on a regulated exchange  (there is only one that is worth anything: Nadex), you might as well treat your deposit as a donation (the receiving broker certainly is looking at it this way 😂)

 

 

[zuinjimi 0]

Binary options in forex are available from exchanges such as Nadex which offers them on the most popular pairs such as USD-CAD, EUR-USD, and USD-JPY, as well as on a number of other widely-traded currency pairs. These options are offered with expirations ranging from intraday to daily and weekly. The tick size on spot forex binaries from Nadex is 1, and the tick value is $1.

The intraday forex binary options offered by Nadex expire hourly, while the daily ones expire at certain set times throughout the day. The weekly binary options expire at 3 P.M. on Friday.

For forex contracts, Nadex calculates the expiration value by taking the midpoint prices of the last 25 trades in the Forex Market, eliminates the highest five and lowest five prices, and then takes the arithmetic average of the remaining 15 prices.

[mukti 0]

Trading with binary options is easy, and you do not need any previous experience. Below are some basic guidelines that we have compiled to help you start trading in a few minutes.

1. To be a successful binary options trader, you need to use more than one broker. Choose one or more from our compiled list of brokers.
2. Register with your chosen trading platform and deposit money to start trading. The minimum deposit for some trading platforms  or binary options robot is only $ 100.
3. Select the asset to trade. Trading platforms have assets such as currencies, indices, commodities, and stocks. You can choose to trade in currencies, the popular one being EUR/USD.
4. Decide on the amount to invest. When investing in an asset, you will see the payout or the returns for the asset, which can go up to 91%. Make your prediction on the movement of the price of the asset. If you predict the price of the asset to rise, select Call (up). If your prediction is that the price will fall, select Put (Down).
5. When the trading closes after the given time, for example after 60 seconds, if it is a 60 seconds investment and you have made the correct prediction, then you win. An investment of $ 100 with a 90% payout means that you will have made 90 dollars in a few minutes.

 

Edited June 10, 2019 by mukti

[CrazyCzarina 17]

We all know Binary Options are not safe to invest as there is no real person who is making money with it. I have heard only bad words about Binary Options.

[aimhi 10]

I prefer trading forex although there are many other products too beside binary options like bitcoin and crypto however i think they all are just in their infancy stages and require more time to mature.

[fxeconomist 11]

I said farewell to binary options after I noticed that conditions in forex trading is much more beneficial. You can exit at any time and manage your risk more flexible. Also some brokers like Hotforex offer really low, almost zero spread which makes it similar to BO transaction costs but with additional features in risk management.