This is a big benefit to new traders, as they can quickly learn the basic mechanics and start trading right away. A related benefit of this, is having to make fewer trading decisions. In spot forex trading, for example, one has to decide: - Where and when to enter the market - The appropriate trading lot size to use - How to manage the trade - Where and when to close the trade In binary option trading however, there are only 2 decisions to make: - Whether the market price will be above a certain price level at a certain time - How much to risk on the trade As such, binary options offer a much simpler trading process.
And, since the potential loss on each trade is fixed, you will never get a margin call. Lastly, options offer traders the unique ability to make money by predicting where prices will NOT go. This goes for all types of options, not just binary options. So… does binary option trading sound good? Sure it does! In this sense, a binary option trade is typically an all-or-nothing proposition.
These points on inflexibility can be summarized by the following comment found in the Forex Factory forums : "I once traded a forex news item where I closed a wrong call with a 20 pips loss, and ended up making pips on the reverse trade, giving me a net profit of pips. This scenario cannot be replicated in binary options.
The implication of these factors is that the average loss per trade will always be larger than the average profit. This is a structural i. The promise of regular fixed payouts and a focus on short-term profits are exactly the characteristics that appeal to people looking for a quick buck.
Unfortunately for them, what feels good in trading is typically a losing approach. You see This is an exceptionally difficult feat to accomplish. Whenever the market settles at a particular price level, it is not settling at a dozen other price levels.
Does this make sense? This root concept may then be expanded to form a complete binary option trading strategy that you can use. Note however, that this is a benefit available to all types of options, not just binary options. One reservation I have about binary options is that they do not serve a major commercial purpose. Unlike the spot and derivatives markets that serve to benefit society, binary options exist solely for speculation purposes. In other words, it can be reasonably argued that binary option trading is not much different than a casino game.
Without a commercial purpose, binary options could be banned tomorrow and not impact anyone else other than the brokers and speculators. Compare this to spot Forex trading, or Forex futures trading, upon which global commerce relies. These markets are unlikely to be closed or banned, because they serve a useful purpose beyond speculation. Some years ago, expert advisors were the hot topic. Slowly but surely, people are now gradually realizing that "automated trading" isn't as amazing as it's cracked up to be.
Will binary options follow suit? My opinion is yes, I think they will. Did I miss mentioning any important points? Let me know what you think! The original article is published here submitted by pipmavens to investing [link] [comments]. Hey guys! I found a super cool list of everything a new forex trader would need to get started!
Originally made by to nate Regulations typically force US traders to only trade at US brokerages, while international traders have more choice. After considering location you need to consider how much capital you will start trading with as many have minimum deposit levels.
ECN brokers execute your orders straight through to their liquidity providers, while market maker brokers may pair up your trades with other clients. Market maker brokers typically will partially hedge your positions on the interbank market. Many consider this to be a conflict of interest and prefer to trade at an ECN broker who would have an active motive to see you succeed.
Lastly, brokers run inherently risky business models so it is important to consider the risk of bankruptcy. Be warned though that people only seem to make bad reviews. Used most by professional traders. Second largest retail FX brokerage in the US. Easy platform for beginners. Fair spreads No minimum deposit Not well diversified, but well capitalized -Gain Capital whitelabel forex.
Be warned that their business may not be sustainable in the long term. This may result in reduced liquidity during volatile times as liquidity providers would be likely not to risk posting liquidity to LMAX's pool. Some brokers have their own proprietary software, while others lease common software like Metatrader or NinjaTrader. Some software has a large development community for indicators and EAs. Your best bet is using your bank or an online exchange service.
Be prepared to pay a hefty fee. I have money in one currency and need to exchange it into another sometime in the future, should I wait? Exchange the money when you need it. I have an FX account, should I start trading demo or live? This is highly debatable. You should definitely demo trade until you have mastered how to use the trading platform on desktop and mobile. Many think that the psychology of trading live vs demo trading is massively different.
So it may pay to learn to trade live. Just be warned that most FX traders lose almost their entire first account so start with a low affordable balance. Money management is a form of risk management and is arguably the most important aspect of your trading when it comes to long term survival. You should always enter trades with a stop loss - the distance of the stop allows you to calculate how large of a percent of your account balance will be lost if your trade stops out.
You can run a monte carlo simulation to figure out the risk of having a number of trades go against you in a row to drain your account. More on this here: www. Never buy an EA from a developer because the vast majority of them are scams. What indicators are best? Many in this forum dislike oscillating indicators since they fail to capture the essence of what moves price.
With experience you will discover what works best for you. What timeframe should I trade? Price action can vary in different timeframes. In longer term timeframes the price action and fundamentals are much more clear. Therefore the best bet is to use a multi-timeframe analysis, working from top-down to come up with trades. This is a long standing argument in these forums and elsewhere. Yes there are traders who blindly ignore one of the other but a truly well rounded trader should understand and implement both into the analysis.
The market is driven in the longer term through FA. The general advice is to stay away from binaries. The structure of binary options is so that when you lose the broker wins. This incentive has created a very scammy industry where there are few legitimate binary options brokers. Am I actually exchanging currencies? Yes and no. Your broker handles spot FX is currency pairs. Although they make an exchange at the settlement date they treat your position in your account as a virtual currency pair.
Think of it like a contract where you can only buy or sell it as a pair. In this sense you are always long one currency while short another. You are merely speculating that one currency will appreciate or depreciate vs another. Why didn't my order fill? Even if price appears to cross over a line on your chart it does not guarantee a fill. Different charting platforms chart different prices - some chart the bid price, some the ask price and some the midpoint price.
To fill a limit order price needs to cross your limit's price plus the spread at the time that it is crossing. If it does not equal or exceed the spread then it will not fill. Be wary that in general spreads are not fixed.
So what may fill at one time may not at another. This bot cannot verify AMAs just yet Date: Link to submission Has self-text Questions Answers Let's say someone was looking for a stay at home computer job, would you recommend doing what you do? Is it something you can hop into, or is it something a lot of time must be put into before considerable income comes?
You handle risk and pressure well, and you don't let your emotions guide your decision-making. Professional Poker and TCG players often develop this skillset. You have experience working with stocks, bonds, derivatives, foreign exchange, or other financial instruments. If you have a strong mathematical background, that would also likely fulfill this. You can invest significant capital into trading while remaining financially secure if it all suddenly vanishes.
You are capable of constantly monitoring a situation, waking up in the middle of the night if an alarm goes off, etc. It requires serious dedication. You are good at keeping up with news, understanding market psychology, and "feeling" shifts in attitude and perception among other market participants. Of those, I'd be most cautious if you don't meet no. Going bust is a real possibility--day-trading a volatile commodity is inherently extremely high-risk.
Second question: I'm answering this after that big block of text because this answer will come off like a get-rich-quick scheme. Yes, you can hop into it very quickly, and you can start making very high profits very quickly. If you have the right skillset, composure, and resources, yes. It is a potentially very lucrative and exciting stay-at-home job. It is not for everyone, though. As much as it would be beneficial for me being in the industry and all , to tell everyone it's easy and that it will help them provide for themselves I feel that people need to know the real risks that are involved.
Regardless, that's all a little irrelevant. We're not playing the house, and we're not flipping coins. We're playing other investors, and we're making actual decisions. Cool, yeah, it's a zero-sum game with a rake: a little more than half of the players will lose.
That's expected. They'll probably complain about it, too, huh? Retrospect can have a very positive effect. Got any real account trading statements I can have a look at? Let's see how fast you can come up with excuses not to show me ; I only have and need one: I have chosen not to disclose my personal valuation for privacy reasons. Same reason I've had all along. I instead publicly disclose my trades, as they happen, on my website. The posts are timestamped, and the ones that are the start of a position contain the price I entered at.
Go check the posts, then go check the charts, then go check my archive. But feel free to continue to arbitrarily call my credibility into question--that makes your argument better! What leverage do you use? In Australia the leverage is typically , perhaps that's why your not seeing how risky I deem it to be. First, our argument so far has had nothing to do with risk. Second, I told you I am leveraged 2. Third, you realize I'm trading Bitcoin, not ForEx, correct?
And that no one in their right mind would offer leverage on Bitcoin due to its volatility? What's your last year's hourly salary? I took very little in take-home pay over that period, but kept part ownership of the continuing business. Money isn't just about the number on your bank account--it's also about residual future income.
How many hours a week are you typically on a computer? On a computer, probably , if you add in time I spend on my phone, I'd say Day trading takes constant watchfulness. I imagine it's like an easier version of taking care of a baby. What's the weirdest thing about your mom? She started a bookselling business online in her 50s and makes more money than me. She's a little old lady who loves gadgets and technology. What are your thoughts on Dogecoin and other bitcoin competitors?
Do you think any have staying value? Coins that offer something different or that have a strong community to them can be valuable prospects. Is it possible that 4. How is that infeasible? That's a false equivalence. It is possible that 4. Would you care to respond to my above empirical argument that demonstrates that a zero-decision system is flipping a losing coin? Not really yet, but there will be more prominent ones soon. I hear about a new one pretty regularly, it seems, but nothing that seems truly legitimate has come out.
I'm certainly excited for them, though. Eventually, once Mr. Lawsky and co. From the time you started trading until today, what is your overall percentage return? Ben, i told you I'd be here and asking about Hearthstone first. If there's one class that needs a bit of tuning, up or down, which is it and why? I think Mage needs basic, class-level tuning.
I'm not sure what needs to be done exactly, but I don't like what the Mage class power does to gameplay. I've thought some about how different it would be if it could only hit minions, and I'd want to know if Blizzard had tried that out. The Mage power is too versatile, and over the long-term I think it will prove to be problematic. What's your favorite card? Lord Jaraxxus is my favorite card. He has a truly legendary feel to him when you play him, but your opponent can still win, even though he's very powerful.
So, where do you think we go from here? I'm currently short, but I don't expect to be so for a lot longer. I don't think we'll get past I also don't expect this drop to hold on for a really long time. I haven't seen a good, substantive rationale for what the MtGox situation really has to do with Bitcoin price.
Yes, it looks bad, it certainly doesn't help with our legitimacy, but is it really worth the incredible price declines we continue to see? I don't think so. I think we are seeing these impressive declines because the price on MtGox which is a reflection of trust in MtGox relative to Bitcoin price, not just Bitcoin price has been declining heavily. I don't expect it to continue forever, especially not with things like the Winkdex and the accompanying ETF launching. MtGox is basically dead to me, for now at least.
The sooner everyone stops paying attention to it, the sooner we can all get back on track, which I, for one, will be quite happy about. Do you think that it's a good thing for a game when the developers of that game discourage certain playing styles e.
It can be. Most players prefer a game where the best decks are also among the most fun, because it means that they are playing against fun decks more often. This is obviously a very simplistic example, but I hope it makes the point. Games are more fun when you give players more relevant choices: buffing and nerfing cards tends not to do that as well as promoting synergies does.
If it does exist. You might need to rephrase your question for me to understand what you're asking. If you're asking why a Bitcoin has value, the answer is the same as any other good: because someone is willing to pay it. If you're asking why someone is willing to pay that amount, my answer would be utility. I just got started on Bitfinex using your referral link and am a little intimidated. What types of trades would I recommend I try as a beginner? From there, just keep careful watch, and see what happens.
Be neutral and objective toward your own hypothesis, just like in science. Don't be biased by your hopes, be focused on the reality. So far I've only done a liquidity swap offer to try it since it seemed nearly risk free. Have you done any liquidity swap or is it too low in profit? If I'm not going to be able to check my computer for a day or two, or I'm uncertain of what's going to happen the next few days, I do use the liquidity swap function.
It's actually very profitable, relative to traditional investments. And you're right, it is low-risk. I'm a fan. Good job selecting it if you were intimidated--that's a good place to start. As far as actually starting trading, do science. Start with a hypothesis. If you were up at 5 AM today when MtGox published their announcement, a good hypothesis might have been something like: "This announcement is going to be a blow to their credibility, and might panic the markets.
We'll probably drop by some amount as a result. Stick to those determinations unless something substantive changes. The time you tell yourself you can afford to not close your position because it will "rebound" back to where you want is also the time you lose your shirt. Is it true that you like Balloons? No, I Lol to the question about your mom Ben, from my understanding Bitcoin is anonymous, does this mean that you can avoid taxation when receiving payment?
Bitcoin isn't anonymous. That's actually a common misconception. It's actually pseudonymous, like Reddit. You end up with an online identity--a wallet address--that you use with Bitcoin. If I walk up to you on a street corner and buy Bitcoin with cash, then I'm pretty much anonymous.
If I buy it from a large institution like Coinbase or some other company, they will have records of the address my Bitcoin was bought for. As a result, you can trace them down, generally speaking. As for avoiding taxation, that's a general no. What do you think Bitcoin's biggest hurdle is and how do you think it can be overcome?
Are there any misconceptions about Bitcoin that you think people have? The biggest hurdle for Bitcoin to overcome is governments. Governments have a variety of reasons not to want an alternative currency. We seem to have done pretty well on that front here in the US, but for other countries China that is not the case.
Past that, the other major hurdle is something I consider an inevitability: consumer adoption. Business adoption has begun in earnest, consumer adoption hasn't. It will when enough businesses take Bitcoin to give it sufficient utility for the average customer.
What trading platform do you use to daytrade Bitcoin? What is the standard margin that Bitcoin brokers offer? I primarily use Bitfinex. Very few Bitcoin brokers currently offer leverage, Bitfinex offers 2. Over time, I anticipate it will become more like current Forex, where or greater leverage is common.
It varies by exchange depending on their fees. Some exchanges can be as wide as 1. Typically, I see spreads between. Do you invest in any other type of cryptocurrency? DOGE is probably my favorite, because if the community can keep this up for a little longer it will snowball into amaze. Can you trade me a Jace? M10 and if not possible then M I've been reading your blog for quite some time and especially like your summaries for recent events.
Keep up the good work! Do you use strict stop-loss orders for your trades? When do you decide to close a trade? When is enough? Do you have a longterm bitcoin investment you don't touch or do you use everything you have for trading? I do use relatively strict stop losses, but they're not stop loss orders. My conditions usually aren't just the price hitting a certain point, but instead it sustaining for a brief period, or hitting it with a certain volume, or with a certain amount of resistance to retreat.
I don't want my stop loss to be triggered by some idiot who dumps BTC and temporarily drops the price 15, but only ends up really dropping it 3. I am very strict with myself about this, though, generally speaking--if I can't trust promises I make to myself, what good am I?
Let's say for example you have a sum x dollar and a sum y bitcoin on your trading account. I've seen a formula for the max. Do you generally have dollar and btc or just one of them at any given time? Common exceptions are lack of liquidity and funds being on other exchanges.
My reasoning for being all-in all-the-time is that it's a profit-maximizing move. It is also risk-maximizing. My risk tolerance is infinite; most people's isn't. Only ever one. I use everything I have for trading. Again, profit-maximization, infinite risk tolerance. I decide a closing price when I'm near either my stop loss or my profit aim. I place a limit order or multiple limit orders wherever I need to. I avoid market orders whenever possible. Enough is when I hit my goals or my loss tolerance.
I decide these at the start, but I frequently re-evaluate them as news and market conditions develop. It depends what exchange you're looking at, but generally. What's the best way to popularize Bitcoin among the masses? Add your own but would love your thoughts on: -microtransactions developing nations -gift economy tipping I would suggest just running around shouting "You get to be your own bank" is probably the best way.
In all seriousness, though--we don't need to try. It's going to happen on its own from now on, as the news media slowly starts to pick up the story. People will start appearing on TV talking about it with more and more frequency. Things like the Dogelympic teams are great PR and help boost it up, as well, of course, but in general it's just going to follow the adoption curve of every other technology. If it picks up in a few developing nations that have stable internet, it will be a massive revolution for them.
Self-banking can do a huge amount of good for an economy like theirs. We might see reports on that. If a major newspaper decides to run a permanent paywall like what the Sun-Times tested recently, that could be big as well. The slow PR from tipping on Reddit is another way, to be honest. Every bit helps, but the cryptocurrency community is now large enough that we're going to do a significant amount of organic, word-of-mouth style growth.
Do you think that a magic game could beat harthstone? If they do a good job, absolutely. They have to focus on the right things. It needs to be mobile-available, easy to pick up and play, and fun. Is there a good crypto currency to get in on now, before it explodes like bitcoin did? There are plenty of options.
Check out coinmarketcap. Fair warning, there are plenty of horrible things there--treat it kind of like penny stocks. Also, why is it such a pain in the ass to buy them with actual money? Like you have to have bitcoins to buy other crypto currency.
It's such a pain to buy them with USD because no one has made a good system to do it on, like Coinbase. If you think there's a desire, go do it! Well the way I look at it, is how the hell else would you be able to buy them? Ah, I see the problem! You can buy fractions of a Bitcoin using Coinbase--I think.
The March appreciation was from American and European investors and November was mainly from Chinese investors. Which group of people do you think will be the next to buy I hate using the word invest when talking about bitcoin bitcoin for investment purposes? American institutional and hobby investors.
That is, Wall Street and people who pay attention to Wall Street. Forex binary options can be useful in cases of breakouts, including false ones. Overview: Binary Options Strategies. The key elements of your binary options trading strategy should include:. The type of binary option used; When to use it; The amount to trade; Your exit plan Basically, a price can vary between two levels.
The higher and the lower level. When the value is close to the highest level, it will tend to go down, and when it Creating s profitable breakout strategy for binary options requires a fine balancing act. A good technique is to drop to a lower level chart and wait for the close of the next candle.
This can be used to confirm if the breakout is for real or simply a false move. Post navigation. Binary Options News Trading Strategy. Price Action Strategy. Related posts. What is the The road to success through trading IQ option Best Bot Reviews Iq Option ,We make videos using this softwhere bot which aims to make it easier for you t Please subscribe and leave a like for more videos.
This video gives traders an idea of how t apply the breakout strategy in their binary options trading. For more information on binary options trading, visit
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