Why do forex traders see binary options as "gambling"?

Flinty13 · April 2017

I've known a fair few forex traders who have looked down at me for liking binary options, they say it's "gambling" and I would have more luck going into a casino. I don't get why they would say that when they should know it isn't like that, all of us here know binary options is decent if you know what you're doing.
After around 2 years of consistently hitting 70-80% win rates I'm moving to a live account next week

Surely no person would hit that percentage if it were gambling

The_Geek_MH · April 2017

it's viewed as gambling because of the yes/no outcome and time constraint. Forex is an open position, can stay open forever technically, and equities provide ownership. Binary is a pure speculation, will it go higher, will it go lower. . . which is often confused with gambling. Gambling is random, based on chance, speculation is an educated position on the market based on fundamental and technical analysis. .. which is basically gambling to those who don't know.

Flinty13 · April 2017

The_Geek_MH said:
it's viewed as gambling because of the yes/no outcome and time constraint. Forex is an open position, can stay open forever technically, and equities provide ownership. Binary is a pure speculation, will it go higher, will it go lower. . . which is often confused with gambling. Gambling is random, based on chance, speculation is an educated position on the market based on fundamental and technical analysis. .. which is basically gambling to those who don't know.

That's exactly what I was thinking and it's what I say to newbies and forex traders but they still don't understand

Restricto · April 2017

I think it has to do with margeting, which demonstrates binary options as a game, where after a few clicks you can make millions.

Blue Sky Binary · April 2017

Flinty13 said:
I've known a fair few forex traders who have looked down at me for liking binary options, they say it's "gambling" and I would have more luck going into a casino. I don't get why they would say that when they should know it isn't like that, all of us here know binary options is decent if you know what you're doing.
After around 2 years of consistently hitting 70-80% win rates I'm moving to a live account next week Surely no person would hit that percentage if it were gambling

Hello,

This is because they do not understand binary options. 95% of retail traders in FX lose money because they can't manage risk and/or don't know how to trade. In Binary Options 98% lose money for the same reasons. Neither are gambling, however, they are just conducted by amateurs.

Team BSB

Flinty13 · April 2017

Blue Sky Binary said:

Flinty13 said:
I've known a fair few forex traders who have looked down at me for liking binary options, they say it's "gambling" and I would have more luck going into a casino. I don't get why they would say that when they should know it isn't like that, all of us here know binary options is decent if you know what you're doing.
After around 2 years of consistently hitting 70-80% win rates I'm moving to a live account next week Surely no person would hit that percentage if it were gambling
Hello,

This is because they do not understand binary options. 95% of retail traders in FX lose money because they can't manage risk and/or don't know how to trade. In Binary Options 98% lose money for the same reasons. Neither are gambling, however, they are just conducted by amateurs.

Team BSB

Also very well said, thank you