So for a while I've been meaning to put this information out there for young traders and speculators interested in binary options. There is so many misconceptions about binary options as well as shady aspects that I want to be able to clarify things. First and foremost you should know I represent no binary brokers and have no ties or favoritism to any company.
I am a complete free agent and my only interest is giving ya'll information to help stop folks out here from losing money and being scammed. I've decided though since this is a lot of information that I'll probably have to break it up into multiple parts, that and my boyfriend is here and I suspect in a few minutes he is probably going to pull me away from the screen.
First, the main question that I always see online is: Is it possible to live my life solely as a binary options traders? From my experience yes and no. Yes because you can make a shit ton of money very quickly. And no because the regulation for it is still underdeveloped which means if your not careful and you get greedy, you my friend are an easy target for scammers and there are a crap ton in the binary options scene.
Also there are withdrawal restrictions on a lot of the binary options brokers sites so even if you manage to become profitable ( I'll explain why its hard later) then you'll only be able to withdraw a certain amount per month. I've even heard of some sites(shadier ones) that will ban you if you are accumulating too much money too quickly.
In my opinion the instability of the situation is too risky to rely on it for single income purposes, not until regulations are more refined and cleaned up.
Second below I have listed the DO NOTS of binary options. I'll be explaining in more details in a few days as it seems my boyfriend has grown impatient (lolz). I hope this information will help some of yall out here because honestly I'm tired of seeing sob stories on forums of how people managed to wash out their accounts, please use common sense even if its not common.
Do not list for binary options:
- If a broker calls asking you to let them trade for you DONT DO IT, they are fixing to blow your money and disappear in the sunset.
- Never trade more than 2 to 5 percent of you account per trade.
- Never trade without a plan or strategy
- Always set a goal before each trading session.
- If a binary options broker is constantly calling you phone, break ties with them, they are trying to get more money out of you
- If your a US citizen then Marketsworld is your most reliable bet to trade binary options. Don't trust me? Do your research then.
- Price Action, Price Action, Price Action
- Don't get greedy, being overcautious is sometimes better than being ambitious
- And for the love of god, if your new to this please don't Martingale. Those who have done it will understand what I mean.
Ill be posting more details soon guys. I'm about to hand you guys all the info.
P.S: I apologize for any grammar errors in advance. I wrote this very quickly. Ya'll have a good night now.
Not that can be debated. I've seen masters at it however I still don't recommend it as a full time gig.