Is It Possible To Have A Career In Binary Options Trading?

9

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…

  1. 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.
  2. 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.
  3. 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!
  4. 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.

Photo Credit

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!

9 COMMENTS

  1. I’m impressed! Options can be tricky, and I personally choose to stay away because I can’t devote the proper amount of time to learning about them. I do like having basic knowledge about all types of investing, so I do appreciate learning about Binary Options Trading in this post!

    • Hey Natalie, thanks! It’s been fun getting to really know this investment vehicle, but it does definitely take a bit of time and energy. Not all investments are perfect for everyone at the right time…I’m glad you make educated decisions on how to invest your money based on your abilities and availability! More people should do that! Thanks again!

  2. I haven’t looked into binary options trading, mainly because of time constraints, but it sounds interesting. I appreciate you mentioning my post and I’m glad you also found the WSJ article interesting. I have some friends who have made $100k+ from online poker back in the heyday, and one who made over a million. I’m naturally interested in things that involve lots of data and making decisions based on that data. Hmmm maybe I should make learning about binary options a priority?

    • Hey DC, no worries, you brought something awesome to my attention! That’s awesome that you had a friend make over a million in online poker…that must have taken some serious number crunching. Based on what I know about you, you’d probably fall in love with binary options. Just make sure you choose the right broker and do your research before diving in. I think you’d do great!

  3. Still sounds like gambling to me. Particularly the 60 second option. But certainly gambling is a legitimate way to make a living, if you can. I would be interested to know more about getting started. What are minimum investments and broker fees like? That sort of thing.

    • Hey Brad, I really can’t argue that. Binary Options trading can be a lot like gambling. But as you said, you can make a living gambling. It’s all about doing your research and making the right bets.

      Minimum investments tend to range between $200 and $250 and come with hefty sign up bonuses. As far as fees and such, there really are none. There are never broker fees, broker commissions, trade fees, membership fees, etc… The only fee you’ll generally come across is a wire transfer withdrawal fee. However, getting your money via credit card or popular eWallets is usually free as well. If you’ve got any other questions I’d love to answer them, just let me know!

      Thanks for swinging by!

  4. You can probably have a career in almost everything and anything! It would be pretty awesome to make such a huge return though.I haven’t really spent a lot of time looking at binary options as an investment vehicle but I’d be interested to learn more.

  5. I put my money in a few good ETFs and that suits me just fine. Someday I hope to get a bit more advanced, I’ve dipped my toe into the world of individual stocks, but I feel I would need to do a lot more research and invest a lot more time into staying up to date on the market if I wanted to get involved in something like binary options.

Leave a Reply to Brad @ How to Save Money Cancel reply

Please enter your comment!
Please enter your name here