Is anyone making a living from Binary Options?

arif9m9arif9m9 Posts: 33
I'm with IQ Options. Is anyone making a living from this broker, and having no issues with regular withdrawals? I'm worried that, if I'm consistently winning, a Broker might choose to not pay me? Also, would it be 'safe' enough to withdraw at least 5,000K a month (50,000 a year) from IQ or any regulated Broker?
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Comments

  • 2win1now2win1now Posts: 12
    this is a great question- I would like to know if anyone is making a living from BO
  • 2win1now2win1now Posts: 12
    Hi gigstalks- I usually make one assumption when nobody answers a money question- I am never surprised when the scammer jumps up and says - I make $25,000 per month and just collect checks- all I had to do was let Mr Larry control my account - that's what I got for an answer on the last Facebook group I asked this question-

    It may be here they like to kick out the riff raff scammers and not really get down to the real stuff- some might create a site like this to make money off the referral links but past that?? It's pretty quiet in here- that O guy said he has a thread posting his trades - I'll see you over there.
  • The_Geek_MHThe_Geek_MH Posts: 464 mod
    I've been trading binary for many years and you can be profitable. What you need to keep in mind is that this is trading for entertainment more than anything else, like playing a game, and not an investment strategy for your retirement.
  • arif9m9arif9m9 Posts: 33
    Well, I don't consider it a "game" or "entertainment". I've currently done 77 trades over the last three months with a success rate of 83%. To me, that's not a "game".
  • LuckandwinLuckandwin Posts: 16
    Yep would also like to know this!
  • NoahMartinNoahMartin Posts: 5
    arif9m9 said:

    Well, I don't consider it a "game" or "entertainment". I've currently done 77 trades over the last three months with a success rate of 83%. To me, that's not a "game".

    Where did you find some good material to study?
    I've just created an account and I hope making some extra money from it. But I never worked with nothing like it.
    I'm just an Engineer, curious and with zero experience on investments.
    B.O. pays well if you hit the target. But can also let you broken.
    I want to hit more then miss. Juts it.
  • LuckandwinLuckandwin Posts: 16

    arif9m9 said:

    Well, I don't consider it a "game" or "entertainment". I've currently done 77 trades over the last three months with a success rate of 83%. To me, that's not a "game".

    Where did you find some good material to study?
    I've just created an account and I hope making some extra money from it. But I never worked with nothing like it.
    I'm just an Engineer, curious and with zero experience on investments.
    B.O. pays well if you hit the target. But can also let you broken.
    I want to hit more then miss. Juts it.
    Hi Noah, the best way to learn is to open a demo account. Dont use any of your real money until your sure you have a strategy that works. To find a strategy that works is going to be hard as nobody will want to tell you about a real strategy that actually works.
    Do alot of reading and take your time with the smallest trades you can find until you find what works or you will lose all your money.
  • OkaneOkane Posts: 995 admin
    edited October 2016

    arif9m9 said:

    Well, I don't consider it a "game" or "entertainment". I've currently done 77 trades over the last three months with a success rate of 83%. To me, that's not a "game".

    Where did you find some good material to study?
    I've just created an account and I hope making some extra money from it. But I never worked with nothing like it.
    I'm just an Engineer, curious and with zero experience on investments.
    B.O. pays well if you hit the target. But can also let you broken.
    I want to hit more then miss. Juts it.
    Hi Noah, the best way to learn is to open a demo account. Dont use any of your real money until your sure you have a strategy that works. To find a strategy that works is going to be hard as nobody will want to tell you about a real strategy that actually works.
    Do alot of reading and take your time with the smallest trades you can find until you find what works or you will lose all your money.
    Well said.

    About strategies I must add, the reason no one can just give you a working strategy is
    because no strategy actually works. You need an understanding of how to really read the candlesticks (price action)
    if you don't know that and think that you can just plot 3 indicators and make thousands then you are being gullible.
    Unfortunately many people in this industry want you to believe it's that easy to make money and people fall for it.
    By the way, I have written about "top 5 reasons why your strategy is not going to make money"
  • mark123mark123 Posts: 1
    Im working with fulloptionstrade its really good broker and great platform
  • TradingBeastsTradingBeasts Posts: 11
    83% win ratio arif9m9? That is a great number. I think it's possible to do full-time binary options trader, however, be very careful with which broker you trade, because, some brokerages close accounts to traders who are too profitable.
  • The_Geek_MHThe_Geek_MH Posts: 464 mod
    full time trading is tough with binary options, the brokers don't like you to win too much, even the good ones. Best to have several brokers and different accounts to spread your winning around and stay under the radar.
  • crowdedbraincrowdedbrain Posts: 15
    definitely not me, but I like to loose, so I guess my investments are living for somebody else. small world :smile:
    did you forget to take your meds?
  • palanpalan Posts: 12
    83%ITM??? Are you a billionaire?
  • billiehughbilliehugh Posts: 4
    I don't know about making a living at this. But set a reasonable goal and work hard to achieve it. I want to augment my retirement hopefully to around $1000 per month. Tops. So I have set a goal with a money management strategy. Hopefully the trading strategies I use will get me there. No rush!
  • reaperreaper Posts: 60
    I'm taking binaries as an interesting and educating hobby. Really, don't think that it will become my living someday, but it is exciting and I like to learn the markets and my own possibilities. To take it seriously? Hell no, I'm prepared to lose, but I want to keep going till it entertain me enough.
  • The_Geek_MHThe_Geek_MH Posts: 464 mod
    If you don't take it seriously you will never achieve trading for a living, just saying, fake it till you make it, treat it like a business and it will perform like one, trading for fun is ok but trading for long term success is better.
  • OkaneOkane Posts: 995 admin
    jibjab said:

    The_Geek i completely disagree with your idea of "good" brokers not wanting you to make money. Well, the good ones still make money when you lose, but you can make as much as you want without them messing with you. i am in a group were the guy made 200K in one day with 24options, and weeks before that, thebinarylab guy did 100k in one week with 24option. you really can make as much as you want.At the end of the day, your trading and money management would decide that.

    lol, just FYI, "thebinarylab guy" is a complete scam. Just yesterday I spoke to a guy scammed by him and he isn't the only one I have met scammed by him.

    Anyway, yes 24Option is well-funded, people have huge accounts (I have platinum account there myself) so they don't have problems paying to their winners, it's good for them.
  • OkaneOkane Posts: 995 admin
    edited December 2016
    jibjab said:

    the binarylab guy makes money for himself, i'm not so foolish to pay thousands of dollars to learn to trade. Also, you gotta be careful about people who scream scam for everything. Regardless, my point is you can make as much as you want i.e 6 fig per month range, as long as your trading and MM gets you there.

    Why only 6fig? The growth should be exponential.

    When something is a scam because people have been scammed and it's proven to be a scam then it's a scam.
    Yes, binarylab scammer also calls other's autotrader crap for scams but then he sends people to unregulated crooked brokers himself lol.
    It's not about "screaming scam" it's about the proof, get your facts straight. Anyway, let's get to the point, what is it you want to have said?
    You can make millions? Ok sure, now what? Anything you have to share?
  • OkaneOkane Posts: 995 admin
    jibjab said:

    actually he recommends 24 options, so i am not sure why you are so butt hurt....i only watch his videos and i have gained a lot from it, i don't know if he is a scammer or not, to each his own. I personally know people who do multiple 6 figs trading BO monthly,not sure why you are so irksome, drink some cold water dude.

    lol. Sure sure, go make your millions don't let me stop you.
  • OkaneOkane Posts: 995 admin
    Yes I get it, you like watching guys in short talking BS for 10 minutes, happy for you.
  • arif9m9arif9m9 Posts: 33
    jibjab has a point, Okane. Why the hell is Banc dick binary in the list of recommended brokers on this site?
  • OkaneOkane Posts: 995 admin
    arif9m9 said:

    jibjab has a point, Okane. Why the hell is Banc dick binary in the list of recommended brokers on this site?


    Of course it's up to you/us to bring such things up in the forum so the admins can change them (and obviously you have seen me warning about them in the forums many times...).
    After all, the feedback (about brokers or anything) must come from us so they can react thereafter.
    So I agree, if a broker sucks it must be mentioned.
    I have brought up some suggestions too regarding various things so we can improve the forum/site and I know it's being worked on but I will make sure to bring it up again.
  • OkaneOkane Posts: 995 admin
    jibjab said:

    actually he recommends 24 options, so i am not sure why you are so butt hurt....i only watch his videos and i have gained a lot from it, i don't know if he is a scammer or not, to each his own. I personally know people who do multiple 6 figs trading BO monthly,not sure why you are so irksome, drink some cold water dude.

    Just spoke with a guy from US few days ago, BinaryLab sent him to CTOption and BinaryBook and he got ripped off.
    He shouldn't be recommending US traders to crooked binary brokers.

    See I don't understand, if BinaryLab is scamming, then you say "ah it's ok, he is just making money for himself and he is also promoting good brokers" then you nag about BDB here? By the way, don't forget (and double check if you want) my comments about BDB here so don't try to make it sound like I put them up there... I always said they are shit.
    So which is it, are you ok with scams so long as it's from Julian? Or are you against scams in general?
  • OkaneOkane Posts: 995 admin
    jibjab said:

    you do realize that 24option offers the same trade4 you solution that ctoption offers, if you let them trade 4 u, your accounts gets blown and thats ur fault. so you guys on here who recommend brokers using these techniques have no business calling someone a scammer.

    So you are saying all brokers are scams, none is better than any other and you should simply quit BO?
    You change your story every time. A day ago you could make millions, now they are all scams?
  • OkaneOkane Posts: 995 admin
    edited December 2016
    jibjab said:

    Okane said:

    jibjab said:

    you do realize that 24option offers the same trade4 you solution that ctoption offers, if you let them trade 4 u, your accounts gets blown and thats ur fault. so you guys on here who recommend brokers using these techniques have no business calling someone a scammer.

    So you are saying all brokers are scams, none is better than any other and you should simply quit BO?
    You change your story every time. A day ago you could make millions, now they are all scams?
    if that is what you got from what i said, then you are dumber than i thought. bye.
    First of all, your arguments are so dumb, you say JW is good because among his scams he is also promoting a good broker.
    Then you say BO.net is bad cause the BDB is on the list (even though the review clearly says they have many questionable complaints and BO.net ranked them worst) and 24Option is also recommended here. So I don't get it, how come the same reasoning does not apply here? You see, you are running in circles arguing against yourself. Anyone reading your comments here is gonna see you are defending CToption and JW scammer.
    I saw your messages in the other threads too saying CToption won't rip you off if you don't take bonuses which is BS. They empty your account when you don't watch and blame it on you, saying that you turned the autotrader on. When in fact people never actually did this. Anyway, I think you did a good job showing your silly reasoning here so my job here is done.

    About BDB, the review already mentions regarding their crooked ways:
    Are Banc de Binary a Scam?

    "the process of ‘upselling’ has damaged their reputation. This is where account managers contact clients
    in order to encourage larger deposits and more trades. This advice is generally not in the best interest of the trader."

    Did JW mention this to all the US clients he sent to binarybook and other garbage brokers?

    Anyway, I am too busy making my 9 figures this week so stop wasting my time ;)
  • GihonGihon Posts: 34

    definitely not me, but I like to loose, so I guess my investments are living for somebody else. small world :smile:

    Are you serious? (forgive my ignorance if I get something the wrong way)
    I hate losing so much this is the hardest part when discipline myself while trading so I don't chase after the losing and making greater losses!
    Can anyone like losses? :-o
  • GihonGihon Posts: 34
    Guys pls advise me.
    I been a millionaire a few times, I know enough about the world of the rich but I dislike it so no longer interested and quit those cycles for good some years ago.
    I know how to make a lot's of money but I know the costs which are not my priorities in life.
    My goal is to minimize my time to get the money I need for everyday living and have lots of free time for my loved ones.
    Time I value much more than money.
    So the question is, can you make sufficient money with binary trading on a daily basis that is enough for a peaceful and humble living?
    So, you know, just living simple. I do not desire luxury or fancy staffs. My monthly budget is around 300 usd and live with it with my family ok.
    If I make an extra 200-300 usd that's already good for me. Guess growing from there with time but with minimum time consumption daily.
    Do you see this achievable?
    Thanks for answers in advance.
  • jamesnjamesn Posts: 27
    You can believe in whatsoever you like, but the truth remains the truth, Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble. Trading Binary option has earned me so much profit beyond my imaginations from the comfort of my home. With a small investment, you could make great fortune..the secret isn’t far fetched, if you desire this breakthrough feel free to connect with me through mail;
    morganjames995@gmail.com
  • ShaunRShaunR Posts: 61
    Gihon said:


    ....So the question is, can you make sufficient money with binary trading on a daily basis that is enough for a peaceful and humble living?
    So, you know, just living simple. I do not desire luxury or fancy staffs. My monthly budget is around 300 usd and live with it with my family ok.
    If I make an extra 200-300 usd that's already good for me. Guess growing from there with time but with minimum time consumption daily.
    Do you see this achievable?
    Thanks for answers in advance.

    Hi Gihon

    Making an extra $200 - $300 per month from trading Binary Options is VERY possible and much more than that. You need a trading edge ( on average generate 6 winners from every 10 trades made) and a professional trader's mindset. With these attributes, anyone can do it and jamesn's comments would then be realistic.

    Thanks
    Shaun
  • jamesnjamesn Posts: 27
    Just as Gihon commented much more than that is very possible. For example, if you have an account with 1k in it, don't trade more than 50$ per trade or 5% of your account. That way you can simply enter your success rate and start making some consistence profits, regardless of your strategy, a good money management strategy is the key to success in any trading.
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