February 25, 2021 11:53 PM PST
Trader Danger: Read This Before Touching Binary Options
Forex
Binary Options… the latest trend in the financial industry – a
completely new way to make money from currency movements.To get more
news about
[url=https://www.wikifx.com/]WikiFX[/url], you can visit wikifx official website.
Binary
options are not to be mistaken for normal options contracts, which are a
completely different thing. Were specifically talking about binaries
only.
[url=http://activities.wikifx.com/download/index5.html]
[/url]
As a Forex trader, you probably visit many Forex websites and
therefore see a lot of mentions about binary options, especially in the
form of advertisements or those annoying ‘get rich quick with binary
options’ emails.
They are promoted as being: easy, low risk, and give huge ROI in a small amount of time – as quick as 60 seconds!
Every
corner you turn, there is something screaming in your face “BINARY
OPTIONS”, almost to the point where youre being brain-washed with
subliminal messages just to get you to create an account and start
trading ASAP.
When you actually pull back the curtain, you will
discover that its mostly clever marketing and a play on words to get you
to spend money.
In this article I am going tell you why binary
options are not a good opportunity, and in fact this trading method is
nearly guaranteed to waste your money.
There are a few different
types of formats you can use to setup a binary options contract. They
are actually a very clever and a very interesting way to speculate on
the market – I even like some of the formats available.
With
binary options, time is basically your trade ‘exit’ point. You can have
contracts that last as short as 60 seconds, right up to ones that last
for a day.
You ‘win’ when your contract expires ‘in the money’,
implying the condition on your contact is true when the expiry time
ticks over.
The conditions you can ‘opt in’ for are very
innovative; you could come up with some cool strategies with these kind
of configurations at your disposal.
Put (bearish) & Calls
(bullish): Basically if price is above or below a specific price level
at the time of contract expiryThese are a very different approach in
contrast to the classic SPOT Forex trading that we‘re all used to. This
is about as awesome as binary contracts get, it’s all downhill from
here.
There are many ‘red flag’ issues with binary options that
you might not be aware of. You really have put the system under the
microscope and even listen to some of the horror stories of traders who
have been put through the binary options meat grinder.