It Only Looks Easy
It is important that you are reminded of the risks with Binary Options because they are as close to gambling as you can get. If anyone tells you otherwise then I think you will find they don’t know very much about trading. Binary Options trading platforms may look easy to use but that doesn’t make trading successfully any easier. In fact Binary Options actually make trading successfully a little harder because all of a sudden you have to assign time to your trade, AND, accept well below 100% returns. The only place that Binary Options makes sense to us here at ElectroFX.com is with the 30, 60, or 120 second options. It is at that speed where Forex becomes difficult due to spread and/or commissions, anything slower than that can be traded with much greater returns via SpotFX (Forex)
The Catch 22 of Binary Options Trading
The easy to use Binary Options platforms are very attractive to newbies and there is no denying that they are very easy to understand. The problem is that Binary Options only make logical sense with very high frequency trading and the faster you attempt to trade the harder it becomes. This is a bit of a paradox when you think about it because you need a higher skill level to trade them where they are useful, but they attract beginners and promote a gambling mentality.
Some Free Advice that will Save You Money
There is no shortcut to becoming a successful trader and you need to ignore all the spam emails and get rich quick advertising. If you are to take trading seriously then you need to start by first understanding how to read price action and what a complete trading plan consists of. Taking the hard route will pay off longer term and save you losing all of your risk capitol before you even get the hang of things. You will find plenty of material here at ElectroFX.com and you really should learn how to trade SpotFX (Forex) before you dive in to Binary Options. Learning how to trade Forex first will give you clarity on why Binary Options only make sense for very short term trades, it will also help you understand why Forex should be your main pursuit and Binary Options should just be a side project / bit of fun for extra pocket money!
