Good afternoon friends! After you have come to your senses a little and realized that Binary Options are not the easiest source of income, but quite the contrary, doubts appear in your mind. At some point, you start looking for specialists who will confirm or refute your guesses - Binary options are a scam for suckers. This is exactly what we will talk about (whether Binary Options are a scam and created for suckers) in this article. But before you start reading, I want to warn you - within the framework of this article, I will try to explain everything as plausibly as possible and will not be shy in my statements. The purpose of this article is not to offend anyone, but to convey to you very important information. Enjoy reading.
Content
- Suckers and Binary Options
- Isn't it that simple in Binary Options?
- Who else is a sucker here?!
- Uncle, what are you talking about? I have a strategy for trading Binary Options!
- Who makes money from Binary Options?
- Binary Options – Casino for Suckers Sucker in Binary Options
- Trader in Binary Options
- Naive sucker
- A demo account and a real deposit are very different
“The broker does not withdraw money to me”
You can often find real reviews that brokers do not want to quickly withdraw money, for example:
Review Semyon, Kiev
This binary options broker Benatex sucks! I fell for it and made a deposit! What a fool! If you want to withdraw your profit, they ask for your passport and they will check you for 7 days! How to deposit money - 3 seconds, and withdraw - wait a week. In general, I do not recommend this office!
Why do brokers require your documents and check them for a week? Most normal brokers are regulated in the European Union . The regulator requires brokers to comply with anti-money laundering laws . During the initial withdrawal of funds, the broker has the right to request a scan of your passport and even a receipt for payment for the apartment. For the CIS this looks strange, but in Europe it is considered normal. The broker cannot allow the withdrawal of funds to third parties (this is when you deposited money for yourself, but want to withdraw it, for example, to the card of your wife, brother, friend), and therefore requests your documents. But many do not understand this and begin to write negative reviews of binary options on forums.
To quickly withdraw profits, brokers offer VIP conditions to their impatient clients. Withdrawal usually occurs within one day.
Suckers and Binary Options
What do the suckers have to do with it? And how does this relate to Binary Options? Let's figure it out. For example, let’s take an ordinary person - Petya (Vasya, Volodya, Misha, Tigran, Egor, Igor, Sveta...), who already has the opportunity to delve into the Internet, browse different sites, but is still terribly poorly versed in advertising and the principles of its work. So, one fine day, our Petya comes across an advertisement for Binary Options on the Internet:
Common sense kicks in, and very serious doubts arise that this is very likely a hoax and that in reality there is nothing of the kind. We are all accustomed to the fact that good earnings are the result of many years of work and career advancement. But here, in advertising, everything is very simple - take it and earn money. Of course, our Petya, being not a stupid person, will not fall for such a blatant deception. But here the second side of the coin emerges - curiosity. It is caused by proving to oneself “Ha, I was right!” I told you that this is a deception and a scam for suckers!” Petya’s curiosity makes him look for all the necessary information about Binary Options. And what does he find? Of course, the facts are opposite to his expectations. 85% profit in just 60 seconds:
Annual interest rates in our banks are nervously smoking on the sidelines. But only a stupid person can believe in such advertising, so Petya searches for information further. And then everything is the same:
And again….
And even on a mobile phone...
And very large payments to clients generally stop the eye:
“Well, everything can’t be so beautiful and simple,” Petya thinks. But in his search, he comes across this:
But Petya is overcome by the same doubts as before - “Until I see for myself how it all works out, I won’t believe it!” And Petya takes the last step - he goes to watch a video on YouTube, and there:
And here almost every person will change their opinion. “Well, well, they really make a lot of money on Binary Options. But what about training? I don’t know anything about this...” thinks Petya. And here everything is ready:
There is also a free training account:
Doubts disappear in an instant, and there are more than enough arguments to try:
- It's simple
- They earn thousands of dollars from this
- Easy learning
- You can try it for free and without investment (then, of course, you will have to invest your own money)
But at this moment not a single Petya, Sasha or Valera thinks about:
- Where does money come from in Binary Options?
- What are the benefits of a Binary Options broker?
- Why you can earn from 70% to 96% in just 1 minute
- If everything is so simple, why am I not surrounded by only millionaires?
- What does advertising hide?
Who needs this anyway, especially when you think that with every thousand rubles you can make a profit from 70% to 96% in just a few seconds?! This is how people who know nothing about Binary Options fall into the trap of their own greed. Simplicity and the taste of freebies take over, eclipsing all thoughts about the lack of knowledge and experience (they are zero) in this area. This is how a newly minted client of a Binary Options broker becomes a sucker - a person who has been thoroughly warmed up by advertising that omits details.
Isn't it that simple in Binary Options?
The first thing a newbie to Binary Options encounters is price charts:
The price chart of an asset is one of the most important elements in predicting price direction. This is both a friend and an enemy of a novice trader. And here the most important mistake of beginners comes to light - what makes you think that you can constantly guess the direction of the price?
- Do you have a financial education?
- Are you an economist at a large company?
- Are you an investment specialist?
- Can you see the future?
- Do you even know anything about the principles of price movement???
Why the hell are you here?! The advertising completely did its job - you were made to believe in the simplicity of predicting prices and a comfortable future, from which you are separated by just two buttons. You are a potential client of a Binary Options broker. You are a sucker!
What do you need to know to withdraw your profits?
Unfortunately, most traders, in their desire to make money quickly, do not read the terms and conditions of the client agreement, which often leads to their violations. However, as they say, ignorance of the laws does not exempt you from responsibility.
To avoid future problems with withdrawing money, ForTrader.org magazine experts recommend starting to work with a binary options broker by clarifying the following points:
- What documents are required to complete the verification procedure. It is necessary to take into account that the passport has an expiration date, as well as the presence of a credit (payment) card.
- How long does it take to withdraw funds? Money cannot be transferred instantly. The processing time for the application and withdrawal of funds is indicated in the company’s regulations and can take from 1 to 14 days.
- Conditions for receiving a bonus and rules for working it out. As a rule, working out a bonus means making transactions on one account to accumulate the necessary trading turnover. Trading turnover does not depend on whether the transaction was profitable or unprofitable, but represents the sum of all funds invested in trading.
- Rules and conditions for withdrawing profits. It is necessary to clearly understand how to withdraw the net profit received from the deposit if it was replenished through an electronic wallet.
So who makes traders suck? Binary options brokers? Well, perhaps only by 5%. We do the rest of the work ourselves, being lazy and showing disdain for risks and our money. There is no divorce. Binary options are almost like a casino or a bet. And there is no need to be offended by the one who won this argument. Nobody promised you to lose, right?
Who else is a sucker here?!
“You yourself are a sucker, author!” Well, calling someone a sucker without any arguments is really bad and wrong. But the problem is that I have a whole bag of these arguments, which I will now dump on your sore head. Let's conduct a very interesting experiment, and its rules will be as follows:
- Let's take a price chart of, say, gold
We wait for the start of the hour and look at the price (suppose we started at 11:00). Your task is to guess what will happen in an hour: the price will rise or fall.
- You guessed it right - I give you 80 rubles
- You did NOT guess correctly - give me your 100 rubles
And so on until the end of the day: if I guessed right, I increased my 100 rubles by 80%; if I didn’t guess right, I gave me the amount in dispute. It seems simple: there are only two options, which means that the probability of a correct forecast is 50%. Simple, right? Now imagine that you need to guess not 50% of the time, but 58%-60% in order to gain profit. What, millions of earnings per day no longer smell?
Uncle, what are you talking about? I have a strategy for trading Binary Options!
“What are you, a fool? They already explained to me: you take a profitable strategy and, based on its signals, open trades, like the guy in the video!” - our Petya thinks at such a moment. But do you really think that trading using a strategy is as simple as it seems at first glance? Yes? But no!
- A maximum of 10% of your trading success depends on your trading strategy
- Most often, strategies are developed/added/changed to suit the trader himself.
- The same strategy will give different results for different traders
Well, now let's talk about this in more detail. 90% of success in trading lies in three pillars: trading discipline, trading psychology, risk management. What's the use of a trading strategy if you:
- Do you not know how to follow its rules and enter a trade without waiting for a signal, or, conversely, enter a trade too late, when the signal has already passed? (no discipline)
- Are you afraid for every deal you make, are you filled with joyful emotions (if the deal turned out to be positive) or are you depressed (if the deal turned out to be negative)? (problems with trading psychology)
- Do you lose your entire deposit in one sitting, do you trade using martingale or your entire trading balance at once? (problems with risk management)
Right! Without the basics, you are still the same sucker for the broker who was brought to slaughter! In such a situation, “guru traders from your video” will not help. But at the same time, if you, Petya, deeply delve into the study of risk management, trading psychology and trading discipline, then 99% of trading strategies will bring you profit, which once again proves the fact that the point is not at all in the strategy used. “It turns out that training videos from traders do not convey information at all?” No, that's not true. There is information and there is a lot of it, you just need to know where and what to look at. First of all, any videos about trading strategies show you exactly how the strategy works in real time: how and when signals to open trades appear, how exactly the indicators work (are redrawn or not), what to look at first and what is signal filter, etc.. Yes, the information is not of paramount importance, but, in the absence of your own experience, in this way you can push the flow of your imagination to create something of your own - something that will work specifically in your hands, specifically for you! Information about different trading methods and strategies will accumulate all the time - this will allow you to improve/supplement/adjust everything to suit yourself. Remember: everyone loses money the same way in trading, but everyone makes money differently! Your task is to collect something that will work and bring profit in your hands, with your view of trading, with your thinking.
What are binary auctions?
A binary auction is a modern financial instrument with which you can make money on correct price forecasts for various assets (currency pairs EuroDollar, DollarRuble..., oil, gold, silver, company shares). If a trader correctly predicts whether the ruble will fall against the dollar in the next hour, for example, he will earn +75% of the bet in just an hour!
How to make money on binary auctions? Let's look at an example. Let's imagine that tonight there will be a presentation about the new iPhone from APPLE. Usually, when a new gadget from APPLE appears, it has a positive effect on the company's image, after which the value of its shares increases. The logic here is this. A new model has appeared - therefore, the company’s profits will increase when its sales begin. Increasing profits lead to higher stock prices. Knowing this, you can easily make money on binary auctions! On the binary auction broker’s website, before APPLE’s presentation of the new iPhone, we buy an auction to increase APPLE shares (we count on an increase in the value of the shares). The probability of making a profit for us is very good! So, we bought an auction to increase APPLE shares for $100. According to the terms of the deal, if APPLE shares rise, our winnings will be $70 (different brokers have different conditions). We follow the presentation of the new gadget with interest, then go to the broker’s website, monitor the price and voila! As expected, the stock price increased slightly and we earned $70 in a couple of hours . And if they had bet more, they would have earned even more!
Who makes money from Binary Options?
So who makes money on Binary Options? Is it even possible? Yes - it's possible! There is a lot of information at your disposal that will help you master this difficult task. The essence of trading on Binary options comes down to forecasting price movements, they will help you with this:
- Technical analysis – analysis of the price chart of an asset
- Fundamental analysis – analysis of economic news
- Statistical analysis – trading based on statistics
- Candlestick analysis - analysis of candlestick charts
What, there is no smell of simple income anymore?! Your persistence and desire to become a trader are the most reliable motivator. It will be up to you to decide what exactly you will study and delve into. But you still have to know the basics of each type of analysis. Everything that made you come to Binary Options trading can be summarized in one picture:
Binary options are for suckers! They promise easy money in seconds. Moreover, the amount you can earn can really impress everyone. But the truth is that only a few make money on Binary Options. If you, Petya, think that you are the lucky one who will immediately become one of the successful traders, then I have bad news for you. Nothing like this will happen - there have never been traders who learned to trade consistently and profitably in a couple of weeks. I’m willing to bet that even if you read articles and watch videos of different traders for days on end, you will still see one thing - advertising that you can earn a lot here and very quickly. Your dreams overshadow the real picture - everything here is NOT so simple and NOT so fast. It takes years to achieve really good results.
Binary options – casinos for suckers
For some, Binary Options are a tool for stable and very good earnings. For others (the majority) it is a casino that takes away all the money invested. There is one tool, but what is the difference?
Sucker in Binary Options:
- Victim of Binary Options Advertising
- Believes that the broker's manager will earn money for him
- Opens dozens of trades at once
- Expiration in 60 seconds is the best expiration time
- Paid for access to 100% signals from Uncle Vasya
- Completed training from “Guru-traders” in 15 minutes
- Trade your entire deposit at once
- Risk management is unnecessary
- I bought an expensive 100% indicator and a strategy that does not give false signals
- With $10 I’m ready to make a million by the end of the week
- Trades using martingale and will prove to anyone the correctness of his choice
- Trading 12 hours a day
- Makes hundreds of trades per trading session
- Almost a millionaire
Trader in Binary Options:
- Risk management is one of the main components of profitable trading
- Trained in trading for at least 6-12 months
- Trades completely without emotion
- Knows that 100% of signals, trading strategies, indicators do not exist
- Has a huge knowledge base on technical and fundamental analysis
- Understands that it will not be possible to earn money every day and is ready for losses
- Sets realistic and achievable goals
- Spends minimal time on trading
If the sucker does not stay in trading for more than 2-5 months, then for the trader, Binary Options are a stable source of income for many years.
Classification of suckers in Binary options
The binary business is very booming right now. Do you know why? Because Binary Options brokers know very well who they are dealing with. Most clients have never heard of trading in general and Binary Options trading in particular. For them it is a dense forest. Brokers know perfectly well how to quickly and reliably make sure that a sucker, who proudly calls himself a client, quickly gives them his money. But even the suckers, of whom there are quite a lot on Binary Options, can be divided into groups, which is what we will do now.
Naive sucker
A naive sucker is a client who came to Binary Options through advertising and is confident in his abilities. “It’s easy to trade on BO, they’ve already shown me everything - I’m ready to become a millionaire!” This class of clients believes everything and everyone:
- Advertising
- To the pseudo-guru traders from the video (trade with martingale - you will become a millionaire!)
- 100% strategies
- Broker managers
- Trading signals
- A wet dream to make money with 10$
Moreover, this naivety continues for quite a long time, and at this time the broker is emptying the pockets of his clients.
Risky sucker
“If you trade your entire deposit at once, you can earn a lot more!” - a typical representative of this class of suckers. Of course, you can make money. You can even enjoy your profit for a minute before you lose it all at once. Huge “gratitude” to all those “guru-traders” who hammer such information into the empty heads of clients.
Goofy martiny
A sucker trading martingale on Binary Options. One of the most popular types of suckers. These individuals are ready to prove that they are right and that martingale trading is correct by splashing saliva on the “interlocutor’s” face. The dispute ends after a request to show at least one “trader” who has consistently made money in this way for several years - there simply are no such people. Offended and embittered, they retreat to their hole, preparing new “arguments” in their defense. Very stubborn individuals, capable of ruining the mood of adequate people with their stupidity. The funny thing is that this class of suckers consistently loses their money, but still cannot accept the harm of the martingale in trading - “Are you sure the emergency situation will suffer!” “It’s better to consistently lose your money than to admit to yourself that you’re a loser!” - the main slogan of this class.
Stupid sucker
A stupid sucker in an eternal search for a 100% profitable strategy or a 100% indicator (Grail). This type of sucker is ready to buy up everything that promises very good results:
- Profitable signals from Huru Trader? – of course I’ll buy it!
- Strategy with 300% accuracy? – wrap two!
Typical personalities that litter my inbox. You tell them that they need to study risk management, work on their psychology and discipline, they will nod, but still ask, “Does this strategy work? How are the results? Yes, it works... All the best! Good luck in all your endeavors!
Cunning sucker
The class of suckers who believe that everything can be achieved without much effort. Most often, this is achieved through all sorts of violations in relation to Binary Options brokers:
- The broker prohibits registering more than one trading account - I will register eight!
- One no deposit bonus in one hand - I’ll turn on the VPN and get 5 bonuses at once!
- Ban on the use of robots or third party software? – rules for downs! But I’m not dumb, so I can!
- Signals not working? Bullshit - everything will definitely work as it should for me!
- 100% strategy? This is how I make money! Are they expensive? This means the quality is the best!
- Martingale not working? Of course, it doesn’t work for you - you’re idiots. In my hands everything will work for profit!
- Give your trading account to another trader? Certainly! I will sit, drink wine, and he will work for me!
This class of “traders” considers everyone to be idiots who are so stupid that they cannot do anything normally. Well, he, the cunning sucker, will definitely ruin everything and get away with it! The “smart” approach of the cunning sucker ends with the broker receiving a substantial amount of money or simply blocking the accounts of such idiots who consider themselves smarter than the broker and deliberately violate the rules of the user agreement.
Loch demanding
You earn thousands of bucks a month! Give me some - here's my wallet!
Insolent sucker
A herd of arrogant sheep, to whom explaining anything is a waste of your time! — Quickly showed how you earned it all! — What are several years of training? What are you, a loser? Here everything is done in five minutes, and you spent a year on this - you idiot! Don't hold me down! — What is the fixed rate? What other risk management? What are you, an idiot? Watch how a professional made 200 thousand in 5 minutes using martingale! And you continue to earn your pennies, schmuck, and continue to live up to your ears in shit!
Fucker merged
A typical representative of the target audience of each broker. Having drained his deposit, the loser immediately runs to tell the whole world that Binary Options are a scam. After 10 minutes, all the fences are pissed on with his “reasoned opinion.”
Loch guru
The sucker guru knows nothing about profitable trading on Binary Options, but this does not stop him from teaching everyone around him how to trade correctly. In his arsenal, the sucker guru has hundreds of “arguments” that he is right. This type of sucker shouts the loudest about the need for martingale trading and instills it in less intelligent and experienced individuals. They themselves, sucker gurus, never earn anything in trading, but in the eyes of others they are true professionals.
Sofa sucker
An armchair analyst who has never smelled gunpowder. A typical class of suckers who have never tried Binary Options trading and have no idea what it is, but are 400% sure that it is a scam and no one has ever made money from it. Together with the merged Suckers, they smear all forums and websites with their “reasoned opinions”.
Loch fabulous
He believes in unicorns, fairies and that with $10 you can earn millions in just 3 hours. In 108% of cases - a victim of advertising and martingale. He loses deposits in batches, but as soon as he manages to close the day in the black, he immediately runs to the forum to tell the story of his success. But it immediately disappears from all radars the next day - no one will be surprised by another deposit loss.
Loch signalman
Loch Signalman is a matured and grown up Loch Guru. Unlike the latter, the Signalman not only “teaches” traders and puts them on the “right path”, but also actively gives signals. Who, if not him, knows about all the habits of prices. For his signals, Loch the Signalman, takes a fee, and Loch Dumb plays on them and loses money twice:
- Loses money on initially incorrect signals
- Loses money paying for these same signals
Loch optimistic
This type of sucker is very naive, but not stupid! He is able to find really important information among all this crap that has filled the Internet. The optimistic sucker understands that everything is not so simple and he needs to learn to trade. Risk management? Technical analysis? Sure, not a problem. This class has enough optimism for exactly a couple of weeks - after several leaked deposits, the personal data disappears forever. If only these people had persistence, they would have succeeded...
Loch asshole
He is 16-20 years old, he has already realized that he cannot make money from personal trading, but there are a lot of suckers who still believe that they will become millionaires. The idea is born instantly:
- Ps, guy, don’t you need a very profitable strategy that brought me a lot of money? Selling not expensive!
- Inexpensively and quickly I will teach you how to make money on Binary Options
- I have the most profitable signals - also not very expensive!
- An indicator with 100% signal passability! Today only - 50% discount! Hurry up to buy!
Fortunately, in our time, fewer and fewer traders fall for such assholes who are trying with all their might to make money from the crowd by selling or providing paid ones.
Broker sucker
Most often, this type of personality is advertised by Olymp Trade, a broker who pays them very well for advertising and promotes their channels. Everyone, as one, trades using the martingale and shows you, Petya, how wonderful life is. Unlike Suckers Gurus, Suckers from a broker have behind them very serious support from the broker himself and cover huge masses of traders, instilling in them false information. Unfortunately, many novice traders have no idea that they have fallen into the clutches of suckers from a broker.
Sucker negative
The type of suckers who have a negative and distrustful attitude towards everything and everyone. - He has everything tightened up in the video! I bet you! - How did you earn it! You're fucking everyone! What do you mean the video is not cut and everything is shot in one piece?! I know that you are a liar! - This strategy will never work - don't fall for it! No, I haven’t tried to trade with it - it’s immediately clear that it’s a drain!
Broker Tricks
Brokers love to give out generous gifts and bonuses for replenishing a deposit, so real reviews like these often appear:
Feedback from Ksenia, Orenburg
The broker offered me an additional bonus of +50% to my deposit and I agreed. Having won some profit, I decided to withdraw it. It wasn’t here!!! Manager Vasily said that I need to make 100 transactions for at least $25, and then I can only withdraw! This is how they scammed me, you bastards. Don't fall for this scam!
All you had to do was carefully read the additional bonus agreement . It is usually located next to the checkbox on the “I agree to the terms” link. The agreement describes all the conditions for the bonus; by checking the box, you agree to them.
Free signals from brokers and robots that trade for traders are also an extensive topic for reviews of binary options:
Review by Ivan, St. Petersburg
I registered with a broker, but did not replenish the deposit. Then manager Andrey started calling me, and I answered that I didn’t know how to trade. Then he offered me a super robot that makes 80% of successful transactions and will trade for me. I deposited $500 into my account, after which a month later the robot leaked everything to me. Don't fall for this scam like I did!
The task of managers is to get as much money as possible into the account from the client. For this they receive their percentage; the more clients bring, the higher their salary. Don’t be fooled by managers’ persuasion; you need to trade only with your head. Other people's signals, auto trading strategies, binary robots - as a rule, are not effective and will slowly lead to the loss of your money.
Another way to lure customers. The trader is offered to trade without making a deposit using a binary options no deposit bonus. Profits from such an account can be withdrawn if you top up the deposit with a certain amount of real money. Often, newcomers, without going into details of the no deposit bonus, begin to write in reviews that they are being scammed. In reality, again, inattention in studying the contract, all the conditions are clearly stated there, and we agree to them by accepting a no deposit bonus. There is no divorce here!
The author is also a sucker
We all started trading at some point (many are just starting now) – I’m no exception. And in my time I managed to attend several classes of suckers. Everyone goes through this. I was:
- I'm a Naive Sucker - I got into Binary Options through an advertisement from some “guru trader”
- Lohom Martynyaschiy – traded only using Martingale
- Sucker Risky - transactions for the entire deposit did not pass me by either
- Sucker Dumb - the search for the Grail was long... and unsuccessful
- Lohom Fabulous - here's my $20, when can I get my million?
I even became a Sucker Asshole and sold my trading system, which I developed from 0 and refined throughout the year. By the way, people still work using this trading system and earn money, but now it is distributed exclusively for free - I made a decision (correct, in my opinion) that all my work will be free for everyone!
I don't want to be a sucker for Binary Options!
Don't want to be a sucker? So who's stopping you from doing this? Don’t be one and that’s it – everything is in your power! Who makes you believe that:
- It's easy
- It's profitable
- Anyone can do this
- It's fast
All responsibility for your actions lies only on your shoulders! You want to be a sucker and consistently give your money to the broker - you will be one! You don’t want to be a loser, but you want to earn a lot and consistently – so what’s the problem? Take action! Your naivety, stupidity and ignorance is what makes Binary Options a scam for you. Get rid of all this and you will understand that there is another side to the coin - you can earn a lot from this consistently.
Is it possible to return a lost deposit and how to do it?
There is only one way to get your money back. This method can be used by holders of Visa and MasterCard plastic cards, provided that the money transfers were made through cards of this type.
It is necessary to collect evidence that you were deceived: screenshots of correspondence, records of calls to the support service, telephone conversations, etc. will do.
With these documents, you need to go to the bank and insist on the chargeback procedure - the return of money from the options broker's deposit to the client's account.
Although this is difficult to do, it is possible. The main thing is not to delay, since this operation has a statute of limitations. The chargeback service must be applied for no later than 120 days from the initial transfer.
There have always been and will always be suckers in Binary Options.
In Binary Options, 90%-95% of “traders” will remain suckers. Experienced traders have always made, and will continue to make, money from the losses of others. This is true in any foreign exchange market, be it Exchange Binary Options, the real Forex market or bookmaker Binary Options. Stupid suckers lost their deposits, smart traders stuffed this money into their pockets because they could. They deserve it - they studied it long and hard. Suckers, on the other hand, always want everything at once - that’s why they remain suckers, feeding their more experienced colleagues. Everyone wants to be among the smart ones - among those who spend a minimum of time on work (trading) and earn amounts per hour that many will not earn in several years. Nobody thinks they're a fool, right? But 90% of merged traders immediately find an excuse for their failure in trading:
- Advertising (it promised me quick money)
- Managers (they promised to help me)
- Brokers (they are to blame for my loss - they set it all up)
- Strategies (I was given a strategy that didn’t work)
- Indicators (they don't work as they say)
- Technical analysis (bullshit)
- News (always a lottery, not an accurate forecast)
- Analytics (specially filling your head with unnecessary information)
- Coaches (they are always hiding something)
- Binary options themselves (I earn 80%, lose 100%)
- Weather (I didn’t get enough sleep and because of this I opened trades in the wrong place)
- Family (always interferes and distracts)
It's always much easier to blame someone or something for your failure, but not yourself. You see all this in angry reviews on various sites and forums. All this will continue until you understand for yourself that all responsibility lies only on your shoulders. But, as you understand, there will always be suckers who will yap and blame everyone, shifting their blame onto others, expressing their “opinion” in the comments.
Binary options: opinions and advice from experts
I think we have already figured out who the Binary Options Suckers are and what they are. It's time to move on to the advice and opinions of experts - real traders who really give very valuable advice. The opinions of experienced traders almost always agree, so they can be grouped for your convenience.
A demo account and a real deposit are very different
The first thing a Binary Options trader encounters is a demo account. A demo account allows you to try your hand at trading without risking your money, but at the same time, you won’t be able to make money on it. The demo account was invented by brokers who wanted to show the average person how simple everything is. By the way, they did it very well. A trader trading on a demo account gets acquainted with the broker's trading platform, studies strategies, indicators, etc. But the problem is that a demo account is completely different from a real account. You can only play on a Demo account - brokers know this very well. But the real account shows the client the real picture - the fear of loss appears, which was not there on the Demo account, real risks appear (losing your money is more painful than virtual money), all the shortcomings of trading are revealed. The funny thing is that on the Demo and Real accounts the charts are the same, the strategies are the same, but the results are very different. A demo account gives the trader a wrong perception of trading. To prevent this from happening, you need to trade a minimum amount (usually $1). You won't lose much, but this trading will develop your trading skills, not your lottery skills.
Verification of trading account
Many brokers now require traders to have a maximum of one trading account. For this purpose, an account verification procedure was introduced - identity confirmation. This procedure is usually carried out once. Most often, you are asked to confirm your identity after the first withdrawal request. So be prepared for this! The broker may ask you for a scan of your passport or other document proving your identity, and (for some brokers) they may also ask you to confirm your current place of residence. Thus, brokers make life difficult for traders, but these are the rules of the game. Be prepared for such a turn of events and register accounts only in your name - this will reduce the number of possible problems with the broker. Fortunately, recently, brokers have increasingly begun to refuse to verify accounts, thereby receiving approval from traders.
Work with trusted brokers
One of the important components of success in trading is choosing a reliable broker. It depends on the broker whether you get your money or not. Binary options have already survived their initial crisis and now most brokers are ready to pay everyone they earned, and there are many fewer fraudulent brokers. But there are still brokers who require strict compliance with the user agreement. Before registering with brokers, read the user agreement. Many brokers prohibit:
- Have more than one trading account
- Use of third party software and trading robots
- Any fraud with the trading platform to identify its vulnerabilities
- Any fraud with bonuses
It's always better to know in advance what you can do and what you shouldn't do. Brokers have the right to block accounts, so it's best to play by their rules.
100% bonus and turbo options
Very often, Binary Options brokers have a 100% welcome bonus on the first deposit (and sometimes not only on the first). As a rule, this bonus blocks the possibility of withdrawing funds until a previously known trading turnover has been completed. This makes life much more difficult for a novice trader who has replenished his trading balance for the first time - losing money is much easier than making money. Moreover, the probability of a loss increases significantly with the increase in the time required for trading. Taking bonuses is beneficial only in one case - if you are 100% confident in your abilities and understand exactly why you are taking them. But, as with the refusal of verification, now with many Binary Options brokers you can get a bonus that will not prevent you from withdrawing funds - it will simply be burned if you order a withdrawal of funds before it is processed. Another problem for a novice trader is trading turbo options (options with a transaction execution time from 5 seconds to 5 minutes). This type of trading is suitable only for experienced traders. For beginners, trading turbo options involves great risks. You need to react very quickly to the signal that appears, open trades at the right point, etc. As a rule, novice traders do not have such good skills, so it is best to trade with a long transaction expiration time - 30 minutes or more. This approach will allow you to spend more time on analysis and decision making. In addition, with this approach, the point at which the transaction was opened has a much smaller impact - in 30 minutes the price will have time to move far from the entry point, thereby reducing the probability of error to a minimum.
Win-win strategies, magic indicators and other methods of binary luck
In Binary Options trading there is no:
- Win-win strategies
- Magic indicators
- 100% robots or programs
- 100% ways to earn money
- Perfectly accurate signals
Any forecast on the price direction has a chance to be wrong - this is normal. The market is a very complex organism that is influenced by millions of components. All a trader has is the probability of a correct outcome. If someone tells you that they have found a 100% way to make money, then with 100% probability they want to make money from you! Only independent long-term practice will make you a profitable trader. Don’t even try to waste your time looking for something super profitable - you will just waste your time and be left with nothing.
Japanese candlesticks: useless or important tool
As a rule, novice traders understand a line chart much better - it is simple and understandable:
- The line goes up – the price goes up
- The line goes down - the price falls
But this tool carries very little information. All experienced traders use a candlestick chart consisting of Japanese candles:
Each candle on this chart contains information about the price movement over a certain period of time. Japanese candlesticks perfectly show all price movements. Your task is to understand the principles of constructing this graph as early as possible. Fortunately, it's quite simple.
Risk management or money management
Risk management or money management directly determines whether you will earn or lose, or how much to earn and how much to lose. This is a very important component of trading - without it, everything will come down to a stable loss of money. Risk management will allow you to limit your losses as much as possible where necessary and earn more where possible. The main rule of trading on Binary options is to lose little, earn a lot! In trading, you definitely need to keep track of how much you will lose if the deal closes at a loss (and it can always close at a loss - there are no 100% strategies and never will be). If you lose everything at once, then tomorrow you will have nothing to trade for, and tomorrow there will be new opportunities for making money. Any experienced trader has studied risk management - without it it is impossible to make money, but with it you can make money on literally any strategy, you just need the right approach.
Emotions and control over them
Don’t forget about emotions - this is the worst enemy of any trader. If you are controlled by emotions, and not by a cold mind, then you begin to trade based on your desires. A trader has only one desire – to make money. But you can make money in many ways. Some of them are very risky - they will allow you to increase the amount on your trading balance if the forecast is correct, and if the forecast does not come true, they will take away an impressive amount of money from you. Emotions do not allow the trader to control the situation - trades are opened in the wrong place, the rules of strategy and risk management are violated... Everything leads to the loss of the deposit. A successful trader is a trader who is able to suppress all his emotions while trading. Only a sober mind is the key to success. When nothing interferes, you can concentrate on the main thing – trading!
How to buy a binary auction?
You need to go in, select the price direction up or down, the transaction amount, and the auction execution time. On the trading platform of the auction broker, all this is done very simply - there are only two buttons above and below , the time of the transaction , and the amount you want to risk:
Is it possible to make money on binary auctions and how much?
Approximate statistics of the average trader:
Should you trade on binary auctions? Some people like to devote their whole life to a warm office or a boring factory (the main thing is a stable salary!), while others may have the chance to become financially independent and work exclusively for themselves ! The choice is yours to make.
Are binary options a scam for suckers or making money on the Internet?
This question can be answered in different ways - there will always be two answers:
- Binary options are a scam for suckers
- Binary options are a stable way to make money on the Internet
Why are the opinions so contrary? According to statistics, 90% lose their money in trading Binary Options - for them, BO is a scam, a scam, a scam. That’s right, these people are suckers who were scammed out of money. But who forced them to be like this? Right! They themselves have come to this. The second group is a group of experienced traders who are not only confident that you can earn a lot and consistently with Binary Options, but also confirm their words in practice. These people also chose their own path - they worked hard and achieved success where others gave up. It turns out that Binary Options are a scam, a scam and a fraud for those who came here for free money. And at the same time, Binary options are earnings on the Internet for those who were not afraid of difficulties and were ready to overcome all obstacles. However, you should not draw conclusions about Binary Options by reading reviews on the Internet - most often you will come across whining losers who lost their deposit after a couple of days (or even hours), after which they concluded that this method of earning money is a complete scam, deception and a scam for suckers. This is also not correct. Know that someone who made their money in trading is unlikely to run to the Internet to praise their broker and brag about their successes - they will simply continue to quietly earn their money.
About positive reviews
The negative ones have been dealt with. With the positive ones it’s even easier - it’s a bastard, sorry May French. Usually they are extremely simple and uncomplicated and designed for your grandmother, like:
“An amazing, incredible, fabulous broker, I earn $200,000 a day, I’ve already bought three cars, three tape recorders, three leather jackets!”
Go to hell. This is short. Each “broker” or bookmaker, without exception, has both pros and cons - and in the reviews I will either see this balanced approach, or everything will be in the woods and there will be no comments at all.
