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The Dark Side of FOREX: Binary Options

The Binary Experience

Breaking away from the up and down of Forex, there’s a whole new way to trade out there. Binary Options are a way to “bet” that at a certain time the price will be higher, or lower than the time you are placing the bet. This allows a whole new level of making and losing money.

I stumbled on Binary Options through one of their semi “scam” portal pages called Insured Profits (to which I will not recommend). But, I got linked up with BigOptions, which is one of the larger and better run Binary sites on the Web today. They’re based in the UK and have branches in the US and other countries. What I like about them is a variety of methods to lose money at amazing speed. I jest, I’ve made more on Binary Options than I have in Forex.

FOREX, Stocks, Binary Options, they’re all really the same. You pick how much cash to put in, decide on a direction and hope all your chart skills, fundamental research and luck works out. With Stocks and FOREX, the money you make is directly proportional to how far the bar moves before closing the position.

Binary Options on the other hand don’t care about distance moved, they only care about “greater than” and “less than”. That’s it. you bet $100 on EURUSD to be greater than 1.26951 in 6 hours (or even 15 minutes) and it closes at 1.26952, you make your $100 back plus 77% for a total of $177. On the other hand, if you lose; that $100 is gone. That my fellow readers is the downside. Binary Options live up to their name as an All or Nothing paradigm.

Summary

In all, FOREX, Binary Options and Stocks are all a gamble on 2 directions, up or down. The Binary benefit is that you win/lose based on if the price is better or worse than your bet direction. It’s a fixed percentage, but there is in theory far less risk involved. Stocks and Forex can clean out your account in seconds if you bet wrong. With Binary Options, your worst case is losing your bet. Your best case is the fixed percent gain on the win.

Each method has it’s own unique benefits and downsides. I like Binary Options a lot because I can put a bet and walk away. There’s no sitting at the terminal wondering if it’s time to close out the position or let it ride longer. There’s no worry about losing $4,000 because the $500 trade went really bad and you don’t know if it will recover before you receive a margin call.

If you are new, and just getting into FOREX, or Stocks, I strongly suggest a Binary Option platform to start. You only need a credit card, ID and a little luck. You can also use my site’s forecast reports and reports of other sites to get you a better chance of making money. The rest is up to you.

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Chaos Mistress is the mainstay writer and editor of The Chaosrift. Avid outdoor and athletics. Passionate about politics, video games and life.

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