Hey, I'm new to this forum so "Hi". Just some thoughts on my experience
with the "scammiest" trading products I've ever seen, the Binary Options.
Now, there are genuine "real" and "professional" ways to trade these
things, and my specialty is on the short term 5 Minutes or less periods.
In general, there are 2 categories, of course: 1) NADEX and 2) all the rest
of the more or less "flip a coin" type Binaries. I restrict my comments only
to those based on Forex pairs, as the underlying.
I've written software over the past 5 years, with focus on precision micro
analytics. Just about 6 months ago, I realized that this level of precision
was often an issue in "normal" Forex trading but that, when married to
Binary Options, or even Nadex options, it was the ideal solution.
For 5 Minute Binaries, unless you have micro-analytics on the underlying,
then you are a Gambler. But if you see micro support and resistance,
and micro trending, then it's a real "Professional" game. I analyze the
live Depth of Market, where Market Makers try to conceal their true
intentions, and that's where a Leading Indicator set emerges.
The reason Binaries are so attractive, is that the Smallest underlying is
multiplied in "sensitivity", since the difference between a WIN and a
LOSS is a fraction of a PIP, of course. On NADEX there are more subtle
strategies which can be employed but, if we look at holding to Expiration
then it's a WIN or it's a LOSS against the Strike price.
I can't remember seeing so much Crap as when I looked into Binary Options.
I mean, Forex itself is so full of Crap and I never appreciated that BO's
represent 10x the ScamCrap level of even Forex !!!
So anyway, that's my viewpoint. If you don't have a real Micro Analytic
Edge, then the 5 Minutes or less categories are just stupid Gambling.
In conclusion, for All forms of Trading, Analytics are King. And without
them, find another way to lose your Money
Good Trading !