Trading Binary Options for a Living

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Is it possible to trade binary options for a living?

So while all the strategy posts, and articles on money management, trading psychology, brokers, trading software options, indicators, and so forth might provide the foundation to getting yourself personally set up in the trading business, the main question that everybody should be applying to themselves is, can I actually trade binary options for a living? Can I log on to my computer every weekday morning, pull up my charts, my trusted broker, and do this as my form of work for years on end without having to return to my day job ever again and retire comfortably?

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It’s not an easy question to answer, as everybody’s situation is different. For one, yes, it is mathematically possible to do this for a living if you are good at it. In the binaryoptions.net forum, I posted a probability spreadsheet that you might find useful as a way of estimating how much money you can make over a given period of time given your start-up capital, in-the-money percentage, trades taken daily, percentage invested, and things of that nature.

One thing I must say is that in order to actually trade profitably to the point where you do this as your living, you’re more often than not going to need a lot of start-up capital. You can theoretically turn smaller amounts of money into larger sums, but in order to do that successfully you’re going to need to be able to a) have a very, very high ITM percentage and b) consistently take trades in higher volume.

I’ve mentioned in the past that trading in high volume is not something I can recommend, as it contributes to overtrading – i.e., taking lower quality set-ups. You can turn very small sums into large sums by trading lower volume, but this would entail very risky money management practices, basically where your trade size is equal to (or nearly equal to) the sum from your previous winning trade. For example, you deposit $200, trade that $200 with your first trade, which you win and now have an account balance of $360. You would then take that $360 and trade that with your second trade. Upon winning, you would now have $648 and trade that with your third trade, and so forth. This would allow you to continue trading in lower volume and only take the best set-ups. But the main issue with this form of money management is that once you lose – which is inevitable because everybody loses trades – you would wipe out your account completely. But I, of course, don’t recommend this strategy at all. I am a big proponent of fixed-investment money management, where a single amount of money is invested into each trade. This amount remains fixed until your profit returns and trading skill dictate that you can increase your trade size.

The truth of the matter is that trading is very difficult even if you do have a lot of start-up capital to begin with. Even if you have $50,000 in saved up capital to dedicate to trading (which isn’t all that uncommon among forex traders) and you are absolutely sure you can trade this money profitably, it’s not going to be easy getting a 100% return on an annual basis, giving you a yearly salary of $50,000.

The scary thing about the trading profession is that no salary is ever guaranteed to you. Your profit is dictated entirely and directly by your trading results. This can be pretty unnerving when your entire financial future is contingent on getting profitable trading results. And this is a huge reason why many traders will start panicking when they aren’t getting the results they want/need and end up making irrational trading and money management situations and end up wiping out altogether. It can be a very, very precarious profession for those reasons.

Here is my opinion. I believe all traders should look at trading as a means of supplementing their incomes, rather than replacing their current stream of income altogether. Nobody should make the “newbie” mistake of viewing trading as a get-rich-quick scheme that will allow them to quit their day jobs because it really isn’t that easy.

Making A Living From Binary Options

It is quite possible to live off binary options; however, it requires a lot of input to make it work. Binary options provide numerous ways of making money by simply learning how to trade and when to trade. Binary options usually promise quick and high returns on your investment, with some offering up to 75% return on the principal. However, it is very important to know the rules that you are required to operate within as well as develop a nose for business opportunities.

Over the years, binary option trading has become popular, providing one more avenue through which investors can be able to make a living. To make a living from trading in binary options, you will require discipline, focus and a lot of ingenuity. In addition, you will be required to gather as much information as possible so as to know your options and when to use them.

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Points to consider

Like in any other market, the trader in binary options trading is normally advised to diversify their portfolio so as to spread the risk over a wider pool of choices. Diversifying your portfolio also allows you to earn profits from different areas. In this way you can absorb any losses much better without losing a large part of your investment.

However, it is important to note that a massive principal may be required to earn enough returns to be able to live off the trade comfortably.

Proper money management skills are also required if you are to live off binary options trading. Since you will be required to invest a large amount of money, it is only fair to yourself that you develop the best money management skills you can get. This allows you to not only track your money, but also notice the opportunities that may be beneficial. Money management also allows you to pay your bills in time while ensuring that you are liquid enough to trade in binary options whenever the need arises.
The availability of constant and continuous cash flows is not to be put down in the case. The flow of money is normally good for business since money that is in the system has a higher ability to make more money than that which is stored. Like a forex market, you will be required to know when to cash out of an investment and when to bring in new capital and take advantage of a new opportunity. As such, it is important that you have a source of cash that you can easily access. This is also the reason that most brokers offer bonuses to their clients; it increases their liquidity and activity in the market. A proper schedule for withdrawals and deposits as well as bill payments may help in ensuring that you are well taken care of.

To make a living from trading binary options, it is advisable to choose a broker with a proper trading platform. A good trading platform makes it much easier to make money from the trade of binary options thereby making it much easier to make a living from it. In conclusion, it is possible to make a living from binary trading; however, you must be ready to accommodate the risk factors that come with such a choice.

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Trade Binary Options For A Living

Trade binary options for living is a way of life that I promote here at binary today. I believe the with the right tutelage and approach anyone is capable of transitioning to a trading lifestyle.

The difference between my view of the trading lifestyle and others is often quite different. While many of the traders in this market believe that you can become an overnight success, I found that’s rarely ever the case.

It takes the average binary options trader about 3 months to get to profitability. This isn’t much of an issue because if you want to trade binary options for living then you know immediately what the benchmark is. If anything, this should make it easier for traders to push forward as they know there is an average time to attain success. Once you reach the success that doesn’t mean that your job is done.

At the point when you hit profitability you have to continue to grow so that you become more profitable and eventually get to the point where you can trade binary options for living.

A lot of the binary options software websites online will show you fancy cars, big houses and vacations. While the opportunity is there, these are not the perks you will be seeing in 3 months. Obviously if you work full-time or part-time and do this on the side the additional income would be sufficient to send you away on some vacations but I don’t want to overlook the hard work.

It’s too frequent in this market that traders are looking for shortcuts and end up investing in the wrong systems. This is okay, this is part of the growing process but I do hope that now that you’re here on binary today that you use the search function and read my reviews and the real user comments before moving forward with the product.

To trade binary options for living you have to have patience and the ability to learn. Most of the really successful traders I know were actually really bad students in school. I’ve had discussions with each of them and they all tell me the same thing, they learn better on their own. If you have the ability to teach yourself then you probably don’t even need my help in binary options because in my opinion that’s the most important skill to have.

I hope that my free binary options educational article today helped you get a better understanding of how to trade binary options for living and whether or not it’s the type of career that you would like to get into.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

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  • Binomo
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    Honest broker!

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