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Binary Options Trading - How I Turned $250 Into Almost $20,000 In One Month
For one, yes, it is mathematically possible to do this for a living if you are good at it. In the binaryoptions.
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. 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. I am a big proponent of fixed-investment money management, where a single comfortable life on binary options of money is invested into each trade.
Everyone dreams, as I did, of earning additional income with little to no time or effort. After years of wasting my time on unprofitable means of making additional income, I knew there had to be a better way. And I can do so from the privacy of my own home.
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.
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.
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This can be pretty unnerving when your entire financial future is contingent on getting profitable trading results. It can be a very, very precarious profession for those reasons.
The Bottom Line Binary options are financial options that come with one of two payoff options: a fixed amount or nothing at all. That's why they're called binary options—because there is no other settlement possible.
Here is my opinion. Even I have become receptive to the idea of having a regular income stream after college although trading full-time is my desired path.