In this post I discuss whether binary options trading is a viable home based business model
Over the last few years, binary options trading has rocketed in popularity as a way of making money working from home. This is because it offers sky-high potential returns, allowing you to make a lot of money fast It’s relatively easy to do – if you get your trades right, of course.
The difference with Forex trading is that you aren’t betting one currency’s value against another. Instead, you simply predict whether a single asset (whether it’s currency or stock) will go up in value in a predetermined period of time. If you think the option will go up in value then you purchase a ‘call’.
If you think the option will go up in value then you purchase a ‘call’. If you think it will go down then you buy a ‘put’. Get it right and you can earn a fixed amount or bank anywhere up to 80% in profit of your initial investment. That’s a lot of cash for a few minutes work from home.
Rich rewards are on offer…if you get trades right
Sounds simple, right? While it sounds simple, and you can make a lot of money fast, you really need to know what you’re doing. Otherwise it’s no different to betting on roulette.
The ‘all or nothing’ nature of binary options trading means it can eat up your money in no time. Trusting a broker to make the decisions for you also isn’t the best strategy. Many of them will make bold claims on how they can double or triple your money but go quiet if you ask for proof.
The complex range of factors that can affect an asset’s value and the difficulty of getting trades right is why a lot of people think binary options trading is a scam.
Learn the ropes first
Too many people jump in without taking time to understand how it works and end up blowing all their money in one or two trades. The high returns on offer can such in a lot of people into the excitement of striking it rich and doubling their salary overnight.
As with any type of asset trading, you need to have a smart strategy where you diversify and spread the risk. Trading on assets you have some knowledge on is also a smart idea, or at least learning more about them before considering it as a home based business.
If you prefer not to take big risks with your money, there are plenty of safer ways to invest, such as long-term bonds. But if you want to give it a go then you need to either start becoming an expert in whichever assets you want to trade on or you can try using software to help make the right decisions for you.
Binary trading software options
There’s a wide range of binary options platforms and software you can use. These replace the need for complex calculations or market analysis because the software does all the sums for you. These calculations combine a number of different indicators to predict whether an asset is going to go up and value. This helps to avoid taking stupid risks with the kids’ college fund or chasing your losses on the wrong assets.
Binary trading software can cost in the $1,000s, so if you’re just getting started and want to keep the overheads of your home based business low then here are two options worth looking at.
Binary Options Trading Signals
Binary Options Trading Signals enables you to join 5,000 other traders who made the leap. They provide access to an award-winning trading room where you can learn from a Master Trader LIVE. With over 15 years of experience in the markets, they’ve learned what works and what doesn’t. Pairing together custom proprietary indicators, strategies and tools, Binary Options Trading Signals can help you gain an edge over the markets.
Night Owl Signals
Night Owl Signals gives you access to a live trading room to experience how winning trades are picked and made. They can help you to turn it all around with our incredible custom coded indicators and technical knowledge accumulated over years of binary options trading experience.
This is a great way of seeing how successful traders operate and can fast track your success towards becoming a more knowledgable trader.
Whether you opt for Binary Options Trading Signals or Night Owl Signals it’s wise to take things slow. It’s easy to get caught up in the excitement after making some early wins and start putting down your entire investment budget.
Give yourself some time to understand how the binary market works and learn how to use the software tools as assistants, rather than relying on them to make every decision for you. Then if you are able to trade with patience and a clear head, you may find that options trading can be one of the most profitable ways of earning an income working from home.