When I first got into binary options, there was a lot of miss information. Lots of "instant rich" systems, become a millionaire in a month, get $100 every 5 minutes, etc., and of course this information is false. However, binary options are NOT a scam and with discipline, hard work, and lots of studying, you can make profits. I'm not gonna lie to you and say I'm a millionaire, though with low risk amount trades I have made a lot of money for a college student so far trading. This blog will be dedicated to winning strategies and tools I use to be successful at trading binary options.
You might be asking what binary options are and the simple answer is a option where the payout is a set all or nothing amount if you either rightly or wrongly guessed the direction of the asset. You're trying to guess the direction a asset is moving. Binary options are generally for the short term with most options expiring 30 mins. or less of the time it's bought, but there are some brokers where you can get longer expires. Lets take a look at a short example.
Say you think a asset is going to continue its downtrend. So you place a put option(For reference, "put" means you think the asset will go down and "call" means you think the asset will go up) of $50 at the current price of 1000. The broker will display the payout you will get for being right or being wrong. The payout can vary from about 70% of your bet to up to 90% of your bet. Lets say you're correct and the asset does drop below 1000 at its expiry time. You would then get $50 multiplied by what ever the payout % is. If you were wrong and the asset expired above 1000 at the expiry time, you would get nothing. Pic below.
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