In today forex faq, we have a question from one of our fellow subscribers asking me whether it is advisable for him to trade binary option
Below is the question:
Is binary option really that profitable? Is it advisable for new traders to trade them?
If you have been following my blog, you should have read about those binary option posts that I have written.
In fact, I have been profitable in my binary option trading so far and I have also written a post to share the exact strategy that I am using.
I will strongly recommend any new traders to try out this alternative method of trading forex which is through a hourly option. This method of trading is pretty easy as you do not have to worry about where to place your stop loss or target profit.
All you need is to anticipate the movement of the price for the next hour and you will make a profit even if the price is only 1 pip in your favor.
Binary option can definitely make you money but it will not be as much as normal forex trading which has good leverage. However I will recommend you guys to try it out as another way of making money as it will help you to pay some bills at the meantime when you are still learning the rope in forex trading.
You can receive a FREE BINARY OPTION GUIDE when you sign up for a free account at tradesmarter, the binary option broker that I am using.