Long time no post. Too busy trading and working around the house.
Last winter I had plenty of time to post and blog but spring is here on the eastern coast of Canada and there is a whack of things to do before winter approaches again. There are a few rotting boards on the pool deck I aim to repair and my wife is building a new barn for her goats off to the side of the property. This week, as soon as the rain stops a fellow is coming to re landscape my driveway to accommodate the increased rainfall we have been having lately. Its over four hundred feet and slopes down in an s shape.
In mentioning the ways that binary trading is different than Forex, here is an example:
If you play your trades well and do a little research before trading binaries each day you will be able to take home a nice paycheck ( so to speak) while putting in an hour or so a day. It does help sitting in front of the monitor all day waiting to see if your trade needs bailing out or overriding stops.
Binaries versus Forex
The greatest thing about trading binary options currencies is that you only need the market to move one pip over or below where you entered to win the whole pot. This is astounding when you compare it to Forex trading. One pip in your favour is all you need to make up to 85% more than you put on the line. During the time you have the option trade on, whatever the market does means nothing. No worries about stops getting taken out or if the market crashes.
The way binary option trading works is that each bet you make has clear profit, loss and risk. Forex does not offer such relaxed conditions. I love Forex, but things are not the same in binary trading. My risk and reward is known using binary options. I do not know how much I will win or lose in Forex.
If my goal is to make two hundred a day, then I need to make one good trade putting up five hundred dollars, or two trades with 250 at risk. Its pretty simple to use money management when trading binaries because all the blanks we have in trying to apply money management in Forex can be filled in when trading binary options.
Start with a good binary broker. I love cedar finance as well as EasyXP because they are fair and provide a huge variety of instruments. I usually trade currencies but it is fun to follow my hunches in metals and commodities once in a while. Sing up today and put a few dollars down to begin. Bets can be as low as five bucks and for short time periods like 60 seconds. This is an exciting business and you owe it to yourself to give it a shot.