In today forex faq, we have a question from one of our fellow trader asking me the below question
Is it possible to make a profit trading only at nite. Is forex better then binary options?
I bet this is one question that most of you are asking as most of you must have a day job on hand and can only trade for 1 to 2 hours every night when you reach home.
In fact, everyone of us started in this manner and only trade full time when we see consistent profits in our trading. Therefore it is definitely possible to make profits trading only at night.
However if you only have 1 strategy on hand, then it will be much harder to achieve profits in trading just at night.
I have readers constantly asking me why do I teach so many strategies in my course and why I need to have so many strategies to trade with. This is to ensure that I have enough trading opportunities even when I can trade for 1 hour at night.
As for your second question on whether forex is better than binary option, I will like to say that they are 2 different types of trading tools and therefore I can’t say which is better than which.
Personally I trade forex as well as binary. I must say that forex trading is a better tool to grow your wealth as compared to binary trading due to its high risk reward ratio.
For me, I like to keep my profits in my forex account as I can grow it every month which is a very good way for me to grow my wealth. Therefore I decided to take up binary trading in 2012 as a way to generate income for my family expenses.
If you have been following me, you will know that I withdraw out certain amount of my binary option profits every month to pay for my family expenses.
What I can advice you is that binary option can give me a lot of trading opportunities everyday while we are waiting for a trading opportunity for our forex.
However due to the low risk reward ratio of the binary trades, you must make sure that you have strategies that produces very high winning percentage in order for you to make profits.
Do note that there are a lot of binary option signals or robots in the market that are created by marketers. I have students who lost several thousands of dollars using those robots.
Therefore if you are really interested to trade binary trading as well, you must make sure that you learn some proper strategies before you do so.
I hope that I have answered all your question and do feel free to email me if you have any question
That is why I formulated over 8 strategies to trade for myself which is also what I teach in my Forex course.