Binary Trading

[iLLuDeano]

Good Day and Happy New Years to everyone here!!

My first thread for 2014 I would love to gain some insight on Binary trading.

So as many of you might know, binary trading has been taking over the pop-up ads on the Interwebs. As always, promises looooaaads of money!
It seems easy enough to look at which stock rises or falls, to place your bet and see the money roll in, but is this to good to be true?

A simple "binary trading scams" Google search would give you tons of people saying they keep on loosing money or they made double up on what they started with and never make a dime after that. I have, however, read some articles about people saying they have made enough to support a family and they will never look back.

TBH, I have no idea where i stand on this matter. It seems like it can work if you focus and make informed decisions based on accurate research. I would love to gain some insight on whether this is a viable money making option. One thing I know is that if money making seems easy you need to take it with a pinch of salt.

So here we go Forum, blow me away with your wisdom!

[Dave A]

Among the top results of a search for binary trading is an article on Forbes from 2010, which gives a reasonable clue as to what binary trading is - just a form of gambling by the looks of things.

Based on the example, it's worth noting the "house" has a 15% margin in this game. If you're curious how that stacks up against just going to the casino - here's a list of house margins for popular casino gambling games.

[Chrisjan B]

Only attempt it with money you can afford to loose....

[iLLuDeano]

lol Dave. Such a resourceful man :P Thank you for that.

[cyppokagain]

The most important thing in trading is to not lie to yourself.
It is a very hard thing to do.

Discipline and all other crap if you read about it matter far less.
Keeping honest to yourself much harder.

Also writing out reasons for why you did a trade and keeping a diary or a thesis for yourself helps you keep honest. At least that is my very limited experience thus far.