June 13, 2021

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Can You Get Rich From Binary Options Trading?

3 min read

With the introduction of binary options — the so-called, simplest trading instrument, some five years ago, it is understandable to see investors show interest in trying out this new opportunity. A lot of them are bone-tired of losing money in Forex. They see this as a bright light of hope, which can finally end their losing streaks. But, alas, they don’t realize that “Financial Betting,” is what this business really called. We all very well know that a game-of-chance can provide an ample amount of fun but it surely can’t deliver us a stable income — a fact which is true for the majority of us people.

Binary options not only attract Forex traders but also wanna-get-rich-quickly newbies. These people are under the impression that they can get rich using internet and join the likes of Mark Zuckerberg, Sergey Brin, and other internet billionaires. No one can get rich quickly online, no matter what the opportunity is, and betting in particular, is not your ticket to becoming a millionaire. Making money in the cyber world is certainly possible and there are tons of legitimate ways to do that but getting-rich-quickly is nothing more than a child’s dream.

You can’t get rich quickly by binary options trading

Thankfully, all is not lost. Binary options can in fact become a profitable business for you if you trade effectively. This is only possible if you use a profitable trading strategy. Without it, you are just making guesses, and we know very well that one cannot get lucky on every bet he places. If you win a trade, you earn 65 to 85 percent of the invested sum, and it goes against you, you lose 100% money you put at stake. Do the math, house-edge is so high that you will never see a professional gambler, or a poker-player invest any money in this venture.

You need a profitable trading strategy

You can either search for a legitimate trading system on the internet, or monitor the price-movement in the market for few months so that you can create one by yourself. Off course, the majority of indicators and strategies that you find online are not as accurate as claimed but if you search hard, and do some research, you can certainly find a strategy, which is legitimate as well as profitable. A good trading technique can have around 80% yield. Remember to test it in your demo account for few weeks. Don’t trade in the real account unless you get ~75% or more win-to-loss ratio, consistently.

Binary trading is a legitimate investment opportunity but it certainly is not one of the get rich quick schemes. A business that gives you promise of riches is nothing more than a scam. Thieves like Charles Ponzi always will try to steal money from innocent people. Thankfully, financial-betting is not a fraud, however, many companies, who offer this service, are in fact trying to fool people into believing that they can earn thousands of dollars every day without any effort and that they don’t need any skills or experience. Don’t believe in such false advertisements. This is neither a scam nor an easy million-dollars-a-month earning venture.

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