Hey everyone, thanks for joining me today. Recently, I’ve been doing quite a bit of writing for binary options trading platforms, instructional websites, and more. Believe it or not, I hadn’t been introduced to the world of binary options until a little over a year ago, and have been studying 2 to 3 hours a day to ensure that I’m ahead of the times; as these are my biggest writing contracts. Anyway, through my research, I come across tons of posts that talk about a career in binary options trading. The concept has become more and more interesting to me, so I figured I’d share it with you!
What Is Binary Options Trading
Binary options trading a form of investing in which investors make trades based on the rise and fall of the prices of underlying assets over a given period of time. If the investor is correct, they stand to make a pretty serious return…sometimes as high as 500% on some investment vehicles. The most popular forms of binary options trades are as follows…
- High/Low Options – High/Low options are the most common and most basic type of binary option there is. With these options, investors choose an asset and decide if the price of that asset is going to rise or fall in a predetermined period of time. If they’re right, they’re in the money and will win returns as high as 80%. If they’re wrong, they could lose it all.
- One Touch Options – One touch options are the investment vehicle that often times offers returns as high as 500%. With these options, you’re betting that the price of the underlying asset will touch a strike price. No matter what happens after the asset price hits the strike price, you’re in the money and you’ll get your return.
- Boundary Options – With boundary options, you’re not betting on one number. Instead, you’re betting on a high number and a low number that act as boundaries. As long as the price of the underlying asset doesn’t break through the boundary, you’re in the money and you’ll win a hefty return!
- 60 Second Options – 60 Second options are nothing more than fast paced High/Low options. With these options, it’s up to you to decide if the price of an asset is going to go up or down over then next 60 seconds!
Is It Safe To Build A Career Around Binary Options Trading?
When I first started my research into binary options trading, I thought that there was no way this could ever be a safe, low risk investment. While I still don’t believe that binary options trading could ever be a low risk process because by nature, betting is risky; I do believe that if you play your cards right, it’s possible for binary options trading to be safe…even safe enough to build a career around it. Here’s what brought me to this conclusion…
- People Build Careers Around Betting – Even if you look at binary options as betting, you can’t argue the fact that people build careers around betting every day! As a matter of fact, DC at Young Adult Money recently brought a post on the Wall Street Journal to my attention. The post outlined a story about a young man that made hundreds of thousands of dollars a year playing fantasy sports. If you can do it playing fantasy sports, you can definitely build a career in binary options trading!
- Some Assets Are Highly Predictable – One of the biggest things I’ve learned in my research on binary options is that some assets are highly predictable. For instance, we know that when there’s turmoil in the middle east, the cost of crude oil will rise. This information can prove to be incredibly profitable in the binary options trading industry. Using this information to your advantage, I can definitely see how you could possibly build a career around binary options trading.
- Proper Diversification Can Almost Guarantee Profits – As with any other investment vehicle, diversification is key when it comes to binary options. As a matter of fact, if your portfolio is displays proper diversification, it’s almost hard not to make money!
Beware Of Shady Brokers
I now realize that a career in binary options trading is more than possible; which is incredibly interesting. Nonetheless, I want to share one more thing that I’ve learned about binary options as my career writing for many top websites in the niche has progressed. Unfortunately, there are tons of binary options brokers out there like Banc De Binary (Who I refuse to link to) that have been known for taking advantage of their investors. With that said, it’s incredibly important that if you pursue a career in binary options trader, you pick a quality broker. At this point, I’ve probably written 100+ reviews on 30+ brokers and I can say that so far AnyOption Binary Options is where I would personally go if I were to start a career like this. No matter what broker you choose to work with, do yourself a favor and make sure you can trust them first.
Great Posts From Around The Blogosphere
Personal Finance Tips – You’re Not Done Learning Yet – I tend to talk about Laurie’s posts a lot, but she deserves it. Here’s another awesome post she shared with us about how she realized she wasn’t quite done learning great personal finance tips. Also a special thanks to Will at First Quarter Finance for being the inspiration for this post!
Cook Your Own Meals And Save Money – In this post, Brad at How to Save Money teaches you how to kick thousands of dollars in expenditures a month in the butt by cooking your own meals!