Can an experienced trader please clarify something for me?

StinkaStinka Posts: 1
edited September 2016 in Beginners Questions
Okay, so ive been practicing, researching and reading about forex trading and binary options trading for a while. No one can come to a unified conclusion as to whether one could make binary options trading a full time living. Can it be ones sole income?

I learned a pretty rough lesson today and will be reducing my bid amount to 2.5% of my account balance, it came too close to being empty haha.

For those wondering I'm using IQ options as my broker as they seem well established and I like the simplicity of their layout.

Comments

  • OkaneOkane Posts: 1,279 admin
    I suggest you do not rely on trading as a sole income. It is too stressful enough staying profitable
    and add the fact that you must make money to survive and pay your bills, now you are in trouble
    and this will lead to more emotional instability. Also, you can never expect to make money EVERY month.
    All traders will have bad days, weeks and months or worse case scenario you will have a bad YEAR.
    Besides, you should trade for a few years before you even consider quitting your job.
    Now in my case, I do trade full time but I also have other investments like real estate and other savings
    so I don't care if I have a bad trading period.
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