Hey, it’s been for a while!
This is Lucas from Wandering Traders LAB.
I have talked about many strategies and trade history for both Binary Option and Forex,
but I have never talked about the reasons that I have started doing Binary Option and Forex.
So today, I would like to talk about why I have started doing Binary Option and Forex,
and why you should do BInary Option and Forex.
Attractive things for Binary Option.
Because you can make your money double within just 30 seconds.
How is this possible?
If you are a businessman, and work from 9 am to 5 pm, the average salary per month is going to be £2,300. (England)
You can make such an amount of money by just 30 seconds.
I think that is the most attractive thing for Binary Option.
Of course, it is not easy to make the profits constantly.
However, if you study hard, and analyze the chart every day,
then you have a possibility to make money constantly.
What you have to care when you do Binary Option
But of course, there are many things that you have to care when you do Binary Option.
Do not learn from books, do risk management, and not to trade when there is economic news.
you got to be careful choosing your broker that you are going to use.
Because If it is scam brokers, you have no way to get back your deposit. They are just going to take it away.
Attractive things for Forex
Compared with Binary Option, Forex is something that you can make money more largely.
if it is a Binary Option, it is just going to be double at maximum.
But, Forex is not that small.
If it is Forex, it is infinite because you decide where to take profit. (stop your trade.)
So it might be going to be three times four times of your bet.
If you bet $100, it might be going to be $1,000 within just 10 minutes.
Also, there is leverage on Forex, so you can actually bet more than you have.
Like if you have $100, you can leverage to 500 times, and it is going to be $50,000.
Even you have just $100, you can have a trade from $50,000 by using leverage.
What you have to care when you do Forex
Even you have a chance to make huge money at a short time, you also have a risk.
The risk Number. 1 is
You lose money more than you bet.
Because you can decide when to finish your trade.
USD/JPY is right now $1 = ￥100
and your amount of bet is $100.
if the price goes up to $1 = ￥101, then you get double of your bet,
so it is going to be $200.
BUT, if the price goes down to $1 = ￥99, then you will lose double of your bet,
so you lose $200, but not only $100.
This is a super simple example, but basically, this is how it works.
So it is riskier to do Forex, and you have to do risk management more severe.
Binary Option and Forex is not a bad investment at all
Even both Binary Option and Forex is risky, it is still a good way to make money
as you can make money lately and faster than any other business in the world.
Also if we study hard and research the past market very well, we would be able to minimize the risk to lose money.
I guess that is the biggest reason why I started Forex and Binary Option.
Tips for you.
This is one of my entry points and ended it up with the win. (This entry is over $20,000 profits)
If you want, you can analyze my entry point 🙂
Tell me if you have any questions! Leave a comment below!
All right, this is it today, see you later!