Is it Possible to Become a Binary Options Millionaire? | BinaryOptions.net

SystemSystem Posts: 164 admin
edited October 2013 in General
imageIs it Possible to Become a Binary Options Millionaire? | BinaryOptions.net

The question on whether a trader can become a millionaire by trading binary options is one of the controversial questions that dominate marketplace discussions on online forums and review sites.

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Comments

  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭
    If you use the right math and mix of traders and not going to mention anything it can look more like this *wink *wink *nudge *nudge. Know what I mean, know what I mean. Say no more...

    $1,000 Start
    $2,000 Week 1-2
    $4,000 Week 2-4
    $8,000 Week 4-6
    $16,000 Week 6-8
    $32,000 Week 8-10
    $64,000 Week 10-12
    $128,000 Week 12-14
    $512,000 Week 14-16
    $1,024,000 Weel 16-18

  • BryanMacBryanMac Posts: 851 ✭✭✭
    Yes and no, its better to become consistent and fly under there radar.
    Bryan Mcafee
    Hit me up on skype at Brymcafee (McAllen TX)
    www.tradingaxis.com
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭
    Or invert it and be the "RADAR" or if needed blow the ____ing radar up!

    image
  • KasshKassh Posts: 9
    I dont think so lol I think this table is a joke.
  • rivenjrivenj Posts: 3
    Actually it is doable considering its 5 years.I mean geez doubling an account doe not even take a month for some of ut that is one week of work especially for the lower figures.It needs patience and boroker who is going to be able to handle that kind of money.
    11 months from $500 to $2000 Lol ...He is too patient for my liking
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭
    Patience is good. Focusing on making winning trades and balancing it according to your historical drawdown is better. Somebody who takes it slow using low leverage will as well likely have very limited drawdown. Its all relative and anything you can make you can lose. If you want to become a better trader you need only examine you P/L to find what works for you and always stay focused on making good trades which funny enough lead to making more $$$. Too many focus on making money first and forget to make good trades instead... Then wind up going "OWCHIEEEE!"
  • ds.trading70ds.trading70 Posts: 59
    I think it's possible, but the key here is consistency and focus + patience. Most people lose their cool when they either win too much, or lose too much. That table is pretty conservative, I kindda like it. It's only at 15% ROI. Really good traders with money management and great observation can make up to 35% ROI per month. And imagine if you have a high enough bankroll? E.g. I give you 15K to start off. How fast do you think you will become a Millionaire? 2 years? Go figure.
  • xalksxxalksx Posts: 100
    Nice subject ...But like DS says ..Could it happen faster with a bigger bank account .
    Id imagine if you stuck to being strict with the trades you choose and money management it is doable look at gamblers who only bet one footie team or horse or whatever a week and win/lose/draw thats it ..Allot of them come out with pretty good strike rates ..Even some of the tipsters who tip lots of horses come out with a 40% strike rate over the year are making £35-£40k a year threw £10 bets i no the odds are different but same as in what your doing .
  • ds.trading70ds.trading70 Posts: 59
    Although I would like to ask Bryan n lotz n the rest, are there any brokers out there who would be willing to allow an account to grow like that? And say 3 yrs later allow me to do 50% lump sum withdrawal of 500k without any issues? I think this is more impt. Which brokers? This is huge money we r talking here.
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭
    First off why on earth would you keep a large sum in any of these binary brokers? If you do then you are retarded. Let me repeat simple logic to you. Keep what you are going to use to trade in them and spread it out through different brokers. So lets say I have 500k and 5 brokers that have paid me over time. You take out a few k here a few k there and keep your bankroll which is 90% or greater of your money in the bank and since you are trading larger sizes you withdraw every week or two. If an issue occurs with one of the brokers you use well that is simple you don't use them until that issue is no longer an issue. Always protect your capital as none of these brokers can be trusted as a whole and all their regulations and pedigrees are a complete joke compared to say a real brokers in the U.S. where our money is protected by SPIC/FDIC and real government regulations. Even with them keep some of the money liquid or under your bed. Don't trust anybody lol...
  • BryanMacBryanMac Posts: 851 ✭✭✭

    Although I would like to ask Bryan n lotz n the rest, are there any brokers out there who would be willing to allow an account to grow like that? And say 3 yrs later allow me to do 50% lump sum withdrawal of 500k without any issues? I think this is more impt. Which brokers? This is huge money we r talking here.

    Just because you have say 10k to deposit does not mean you have to. Deposit the minimum amount you need to. Then keep the rest in your bank, so you can base your trades off a 10k balance but only have 5k in the broker.
    Bryan Mcafee
    Hit me up on skype at Brymcafee (McAllen TX)
    www.tradingaxis.com
  • ds.trading70ds.trading70 Posts: 59
    edited September 2015

    I think it's possible, but the key here is consistency and focus + patience. Most people lose their cool when they either win too much, or lose too much. That table is pretty conservative, I kindda like it. It's only at 15% ROI. Really good traders with money management and great observation can make up to 35% ROI per month. And imagine if you have a high enough bankroll? E.g. I give you 15K to start off. How fast do you think you will become a Millionaire? 2 years? Go figure.

    I wish to correct my answer a bit on above. Apparently it's not easy to become a Millionaire even if you are not greedy and decide to say go only 15% ROI per month on Signals. The reason being, where can you find a Signal Provider that can guaranteed at least a 57% ITM% every month? If you are lucky for say 3 months and it's 62% ITM every month. So the 4th Month, you decide to increase the Trade Size Accordingly to get another 15% ROI and Wham, the Signal Provider decides to go 45% for the 4th Month, there goes all your profits for the past 3 months - Gone. If anyone can show me a Signal Provider for over a 12 months period, has only 2 months lost of max 55%, that is heaven. Anyone?
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭
    edited September 2015
    The nature of scale my friend something very few teach when losing reduce size and activity=number of trades, when winning increase size and activity=number of trades... Rinse repeat scale up when things are good down when bad. Now as most humans will do the opposite trying to 1) Chase profits and chase markets and generally like a dog chasing cars eventually get run over... 5% = 2.5% = 1.25% = .625% <> .625% = 1.25% = 2.5% = 5%
  • ds.trading70ds.trading70 Posts: 59
    edited September 2015
    Although lotz you can go cozmos at times, but I have enlighten a lot from your words. Unfortunately your teachings can only reinforce the mistakes which I have already made. You are right, most humans; more than 80% will go the "other way" - Increasing Trade size to chase back the loss, which eventually destroy them. I didn't increase mine, just maintained at 7%, hoping that the next 5-6 winning trades will come along, and it wiped out 85% of my Capital. I write here to serve as a painful memory not to repeat the mistake, and I hope others through reading this post will not as well.
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭
    edited September 2015
    If you want to test this try using a demo account and see how many times you bust out trading any old way you feel vs a disciplined scale like the one above when you win or lose from a series of 5-10 trades under 60% you scale a level down above 65% you scale a level up... As well you can add things like 3 losing trades in a row you stop trading for a day ect ect. You never try to fight back your losses as you focus instead on what the market is telling you to make good trades rather then chasing losers which is what you are doing the other way and is why most never learn to trade...
  • dear123dear123 Posts: 83
    Trading binaries can be very challenging job, it might bring you at the top of Millionaires' list or either you would loose all you have. So choosing the trade sizes is important along with the working strategy in order to sustain the pressures of binary trading market.
  • BryanMacBryanMac Posts: 851 ✭✭✭
    No its not how about people focus on demo 3x it, then take a small real account and don't fing blow it double it, then start your grind. Bins Forex nothing is get rich quick as soon as you understand that your a step ahead.
    Bryan Mcafee
    Hit me up on skype at Brymcafee (McAllen TX)
    www.tradingaxis.com
  • john89oningjohn89oning Posts: 15
    edited January 2016
    Well, sincerely, I don't think that it's not possible. Of course, if you have what it takes and that is:
    1-right broker
    2-good strategy
    3-patience
    4-bravery
    I personaly, do have 3 things out of 4. I finnaly found a good broker. http://www.binaryoptions.net/brokers/binary-com/
    Patience is present, but bravery-not really. I like to play safe so I don't know If I would have the courage to try that strategy that is on that table.
    If anyone tries-tell us how it worked ;)
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