So I’ve recently started looking at changing up my Trading portfolio from simply stock trading and my investments in the market, to having a bit more active chance to perhaps make a profit with the underlying markets. I was intrigued, to say the least, when I started looking into Binary Options. Unlike the rest of the world, it feels like, the US looks at the standard Binary Options trading methodology as gambling since in the EU and other parts of the world Binary Options are an All or Nothing approach to the market. You put up an amount (say 10$) and say that by the time x happens (60seconds, 5mins, 1-4hours, a week, etc), you believe that the market in a particular asset (Currency, Stocks, Indices, etc….say EUR vs USD) will be above or below the current market. So you can either be right or wrong, right means you get a nice profit (60-90% i’ve seen) or you lose it all.
Sounds like fun, especially if you have a greedy little gambling side like I do :D. But Binary Options isn’t gambling, least it shouldn’t be used as such. It’s an art, it takes time and skill. You much understand the market you’re trading in, understand the way people act, understand how the world acts and how those acts will affect the market. In the US we have a version of Binary Options which is legal, supplied by the only exchange that offers the ability: Nadex. You can check them out at http://www.nadex.com. I’ve since started trading, after weeks of studying, learning from guys at BOTS (www.binaryoptionsthatsuck.com) and following a online persona that goes by “The Geek” (Michael Hodges) who’s a member of BOTS and has his own site at binarymarketanalysis.com. He gives a lot of great points on how to approach the market and tacking his input along with the teachings offered at BOTS’ Trading school, I am starting to enjoy Binary Options more and more.
My goal with this page is to start my Trading Diary to detail some of the trades I make, why I made them, and show the good and bads of the common greed within us all. I would suggest that anyone that is ultimately comfortable with understanding the market, have a sheer passion to want to learn more, and a strong stomach to take the risk to excel at it, look into Nadex and Binary Options.