""Binary options, no matter what broker/signals/robots/bullshit you use, are structured fundamentally such that they are gambling instruments. They are the equivalent of betting on coin flips, where you have a 50/50 chance of winning versus losing, but you risk 100% on a loss, and only stand to gain ~80% on a win.
50% of the time you lose 100%. The other 50% of the time you make 80%. (-1)(.5) + (.8)(.5) = -.1
This is the statistical calculation for expected payout. It is negative. Always. No matter what. No one who is in finance even considers binary options except to laugh at them."""
I keep telling him that you have to use the market as analysis and it takes a lot of strategies but hes persistent, but believes in Forex, LOL. So, whats the best answer to refute this and make him look stupid?