Binary Options Forums – Pros and Cons

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners!
    Big Sign-Up Bonus!
    Free Trading Education!
    Free Demo Account!

  • Binomo
    Binomo

    Only For Experienced Traders!

Binary Options – Pros & Cons

The Good & Bad Of Binaries

Trying to decide whether to trade binary options, try out spread betting, or do a more traditional type of trading in stocks, currencies, commodities, or indices? Ultimately the best type of trading is the type that fits your trading personality, but here are some binary options pros and cons to help you make your choice.

Binary Options Pros – Advantages Of Trading Options:

  • Small Budget Can Still Trade – You can trade without a big bankroll. This is unlike many stock brokerages and forex accounts that require a few grand to get started. With binary options you can open accounts with most sites for a few hundred bucks. This is perfect for many traders who are trading on the side and do not want to invest a lot. We like to say that most traders should start with a deposit of at least $500 if possible. This allows you to utilize better binary money management tactics which is crucial for long term success.
  • Low cost way to trade a lot of different underlying instruments. You can trade stocks to commodities to currencies to indices with binary options. Some brokers offer 80 or more different assets for you to choose from. Where else can you trade and profit from commodities like gold or oil for $10, or even $100. Where else can you trade stocks like apple or google for $20? You can make binary option trades for as little as $1 (where?). This enables you to have access to a wide range of markets, which means when conditions make trading impossible in one, you might find optimal conditions in another. There are many chances to find good setups.
  • Big Returns Possible Swiftly – An advantage of trading binary options is speedy returns. You can make one trade per day and make 75-90% profit if you choose. You could even trade faster expiry times and most people trade 15, 30 minute or hourly options. If you are really feeling the need for fast returns, you can even trade one minute options (https://www.bestfxbrokers.com/binary-trading/60-second-options/).
  • Trade different types of binary options. Many brokers will let you not only trade High/Low, but also do One Touch, No Touch, and Boundary trades. These all offer you different ways to profit in different situations. Boundary trades in particular provide a unique means of profiting; you can literally profit on price not moving in these trades. It’s usually challenging to make money in ranging markets, but with Boundary trades it may be easier. Brokers which offer you rollover and early closure give you even more control over your trades. Option Builder (choose your own expiry period) is also great.
  • Simple to learn and understand. You can learn the basics of how to use binary options platforms in under five minutes. This shouldn’t lure you into complacency; instead look at it as freeing up your time to learn more about how to trade intelligently and consistently using a trading method.

Binary Options Cons:
Make no mistake – you can get burned trading binary options. You should only do so responsibly and with funds you can afford to lose. It’s not all fast money and huge returns. With those returns come risk. Do not forget that.

  • Poor regulation and shady spots in history. Right now so many binary options brokers are unregulated. In other types of trading (Forex for example), regulation is the norm. This makes it more challenging to find a trustworthy broker. We have a few good starting recommendations however, and strive to only list brokers with a legit history and reputation.
  • Tighter restrictions on trade sizes for the big high rollers. Some brokers have no exposure limits, but most restrict you to investing no more than several thousand dollars at a time, which can be problematic if you have a large bankroll and want to move a lot of money.
  • Limited demo testing capabilities. Note that this doesn’t apply to every binary options broker—just the majority. If you were going to trade Forex, you’d find that many brokers give you a demo platform you can use indefinitely. Most binary options brokers seem to skip this altogether, or only provide you with a demo platform you can use for a few days or a few trades. There are a few brokers with less restrictive demo platforms however such as Banc De Binary and MarketsWorld.
  • Simple to learn and understand. Yes, this is arguably also a con. While it’s great to be able to use a trading platform in minutes, it can encourage traders to believe that they know all they need to in order to become profitable in minutes as well, which is never the case. As long as you have realistic expectations and you’re dedicated to putting time into learning what you need to, this should not be a problem for you.

Forum Review: Binary Options That Suck

In today’s edition, I’ll be reviewing a trading forum, that’s been serving the binary market for nearly 6 years, Binary Options That Suck. While the name of the website could use a little work, it certainly worked out well for them, as it drew attention to their project, and eventually depicted a market that was full of crappy services. Yet, their main focus isn’t on scams, but their CommuniTraders forum with both thousands of threads and subscribers.

Established in 2020, the BOTS site is owned and operated by Martin Kay. There are other authors as well, including Okane, but Martin is the main man. There is no information outside of this website on Martin, and it’s unknown where the head offices for this project are located. To get in touch with the team, traders can email [email protected]

Binary Options That Suck Review

While there is the main Binary Options That Suck website with reviews and ratings, the most of my time spent here is on the forum. I find that the CommuniTraders group, is one of the better forums in the binary options marketplace. If you are willing to spend the time, and dig through the threads, you will find some valuable information and daily suggestions that can certainly help your trading efforts. I believe that being part of the community like this, is very important for manual traders, and those that are just looking to stay on top of the most current binary options trading strategies.

I also appreciate how the forum approaches new traders. Often joining a community of this magnitude can be daunting, but with a full beginners lounge, there are quite a few sticky threads that are helpful, including free introduction webinars and different trading groups.

If you know me, you know that my main approach is binary options software , and strategies that essentially do the work for me. This is always going to be my approach, but I will still spend time going through different forums to keep up-to-date with what’s going on in the marketplace, and what other traders are currently testing in their personal trading approaches. From time to time I will find valuable information that I will use in my own systems, and strategies.

Details

  • Type: Forum
  • Founded: 2020
  • Platform: CommuniTraders
  • Focus: Beginners / General Trading

While the last form that I reviewed, Binary Options Edge , focused more on binary options strategy, the Binary Options That Suck forum is focused mostly on their social trading platform, and beginners lounge. Don’t get me wrong, the strategies and tools sections each have around 300 threads, but the CommuniTraders social trading platform has almost 3000 threads, and over 16,000 posts.

Social Trading Platform

As far as I’m concerned, the most helpful aspect of the Binary Options That Suck forum, is the social trading platform. This area of the website, essentially gives traders free trading signals and insight into current market conditions. Traders frequently update sample trades, to show the community their personal trading approach, which in turn helps fellow traders adjust their strategies and prepare for similar trades of their own.

I’m not sure if these trades are being updated after the trade, but even if there are, there are also traders providing their own analysis and giving advice on different price movements.

While there is a learning curve to this section of the forum, I do recommend the traders who are focused mainly on manual trading, come here and check it out.

For those like myself, who are more interested in different tools and indicators that help with trading binary options in MT4 , I recommend checking out that part of the forum as well.

Conclusion

In terms of helpful resources in the binary options market, the Binary Options That Suck forum ranks near the top. There are many helpful threads, and sections of the forum to help every level of trader. I believe that the newbie section is a great way to start your trading journey, and then upgrade to other threads like the social trading platform, and broker reviews as you grow your trading skills.

If you are a member of this forum, and you want to leave your comments and experiences about what they have to offer, please do so now. Thank you for reading this review, and please let me know if you have anything you would like to add at any time.

Thread: Pros and cons of binary options

Thread Tools
Search Thread
Display
  • Linear Mode
  • Switch to Hybrid Mode
  • Switch to Threaded Mode

Pros and cons of binary options

In this article I would like to learn more about instruments, which recently became available for RoboForex clients under the “options” project company RoboOption – binary options. Because many traders have questions regarding binary options, I propose to consider them more in details. What are the advantages of binary options over the traditional trading?

At-first, it is very important to note that the universal instrument does not exist, both binary options and classical forex trading have their pros and cons. Each trader can choose the instrument depending of his strategy, for some strategies more appropriate will be traditional trade (for example – classical trend system), for another (for example – trade near the support/resistance levels) – will be an advantage to trade on binary options.

What is binary option?

Binary option gives an opportunity to make a bid for an uncertain event or scenario, while knowing the parameters of risk and profit.
Let’s consider on the example of the simplest form of binary options – “call” & “put”.

Let’s say you expect that in the next three minutes, the price of the chosen instrument, for example, EURUSD, will be higher than the current for at least 1 point, you will get fixed profit. This type of option is “call” (do not confuse with classical option “call”, the have another parameters).

If you predict, that the price will go down in exact date in future ( for example – after one week or more), and the price will be lower than current, in this case you can buy option “put”.

Some people think that binary options have been invented recently, and they have no analogues on market. However, even on Chicago Stock Exchange binary options are traded on Index S&P500 and volatility indicator VIX. Different structured products, allowing to get the profit from “the tangency” of corridors’ boundaries and other sceneries, existed on the OTC market long ago, but were available only for institutional bank clients till the recent time.

Life cycle of the binary option.

Every binary option has its own life cycle (time circulation). For example, active trading options can have very short-term cycles for 60,120 or 180 seconds. Long-term options can live more than 1 week – the date of options’ expiry is chosen just before the opening of the deal.

Profit and payment.

The result of the deal is made directly, when the option expires. If traders’ expectations realized, he makes the profit on formula “payment – bonuses”. The prize for opening the deal is taken independently from what the scenery was realized in the particular deal. Payout 70% will mean, that with the amount of the investment in a single deal of 100 USD, your profit will be 70 USD (you make the profit of 170 dollars and pay the prize of 100 USD, as a result, you receive 70 USD in the case of your predictions’ success), your loss is limited with 100 dollars.

Pros and cons of binary options

Briefly list the pros and cons of binary options:

Whereas payments for options is limited earlier, it is impossible to “let the profit grow” while trading on binary options, that means unviability of use classical trend system, when the lion’s share of profit is calculated on a small number of orders. Of course, take into account the direction of the dominant trend in trading binary options is not only possible but also necessary, however, the trading account the growth will occur in several other principles.

Trading in binary options, it is important to be right in most of their deals (more than 70% of deals), right to understand the short-term direction of the market and its dominant force. Many traders are able to develop a good market feel, it can often build realistic forecasts and expectations, but to make money on them, selling the traditional way, they cannot – while the majority of their forecasts is realized, unexpected price “emissions” sharp movements on the news “studs” and other features of the forex market negate or substantially reduce their advantage.

On the market of binary options there is no “stop”, by definition, and that’s why trader is free of situation when after the stop out takes place the price will go up under his expectation. Market of binary options–the market expectations. Only those whose expectations are often realistic can make a profit, not those who can fast turn position in right moment.

The presence of clearly understood rules of the game – and earlier defined risks parameter and profit, relieve all psychological stress from trader, he doesn’t need to ask himself a question about the correctness of “stop”, he can focus on the quality of his forecast. That is why binary options so rapidly gaining popularity among traders.

I admit it is very hard to work with binary option. Pro: I like the payment system that use some percentage per bet traded. Cons: But since I am a swing trader, I can not trade using smaller time frame in binary option such as 30 minutes or less. I know there are more higher time frame like hourly, 4hour, or even 24 hour. But for me, I would rather trade in forex trading with such long term rather than binary option because I can get more profits in long term when I use traditional trading with mt4 rather than binary.

If you compare binary option with forex business you will get to make good list of the pros and cons of trading it. Binary looks easier than forex and its one a newbie could easily understand. In its words it all about call and put. We can say a market can rise with a set time and if it’s right we make profits. But one disadvantage about binary that makes it hard for me to consider it sometimes is the fact that you are limited to make profit or loss in a time frame. Unlike forex where you could still make profits even when the market start going against you initially without having a time set on your behalf.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners!
    Big Sign-Up Bonus!
    Free Trading Education!
    Free Demo Account!

  • Binomo
    Binomo

    Only For Experienced Traders!

Like this post? Please share to your friends:
Binary Options Trading Secrets
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: