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  1. #1
    Veteran Member Dan21's Avatar

    ok icon Binary Options Traders vs. Forex Traders !!!

    Compare the pros and cons of binary options trading with the ins and outs of forex trading! Which are the advantages to trade binary options vs. forex and advantages to trade forex vs. binary options? Many of us have experience in both sides and it will be very interesting to start an in depth discussion that will compare this two very different forms of trading in more details.

  2. #2
    Active Member rockettrader's Avatar
    For me Forex trading is much more difficult and much more complex than binary options trading. This makes a strong advantage of binary options especially for newbie traders who are willing to learn the basics of trading the financial markets.

  3. #3
    Master Member SeasaltMcFish's Avatar
    Strongest reason for me to switch to BO was the clear win/loss per trade. I hated calculating stop loss etc.

    With BO it's either a win or loss (or tie), so money management is very clear and without any trouble like slippage etc.

    My weak point was ending a Forex trade too early when in profit and not when in loss. That was costing me money, so I switched to BO.

  4. #4
    Senior Member grindtime's Avatar
    I still enjoy forex. I think the industry as whole is more stable than B.O ... But I agree with Seasalt. I like not having to worry about an exit. Just the entry and expiry. I know what I'm risking, and know what I stand to gain. It really does make things much more simple. And I like simple.

  5. #5
    Active Member
    I see BO is simpler than Forex trading but with Forex you can minimize your loss with Stop Loss while in BO, you cannot quit when you feel an incoming loss.

  6. #6
    Active Member RichardD's Avatar
    Quote Originally Posted by Dan21 View Post
    Compare the pros and cons of binary options trading with the ins and outs of forex trading! Which are the advantages to trade binary options vs. forex and advantages to trade forex vs. binary options? Many of us have experience in both sides and it will be very interesting to start an in depth discussion that will compare this two very different forms of trading in more details.
    Here's one from me, a pro for forex traders: they can trade the trends much better. The payout is not fixed therefore they can remain in the trend as long as possible (by dynamically changing the stoploss to a closer location/or by using trailing stops) and make the most out of it.

    Also one pro for binary option traders: you don't need to stress about whether you set the "correct" stoploss or takeprofit level. You just need 1, the direction 2, the expiry time.

  7. #7
    Legendry Member willyw's Avatar
    I enjoy forex trading, too and still is trading forex.

  8. #8
    Active Member hecky3's Avatar
    My main reason for using binary options is that I don't need a stop loss. For several years I traded touch bets with moderate results but since I joined bots I have started using rise/fall bets and so far it looks like a winner. So I have to include the variety of trade types available.

    Forex trading offers potentially unlimited profits but you have to find the trade first. I was able to set up trades with a win/lose ratio greater than 1 but I set my stop losses at Fibonacci values which seemed to be taken out too often so I prefer not to have to use a stop.

  9. #9
    Junior Member KarrathaMick's Avatar
    I really just want to know if you can make heaps more money with forex, I heard the losses Can be pretty high also, gapping over stops etc

  10. #10
    Legendry Member willyw's Avatar
    Quote Originally Posted by KarrathaMick View Post
    I really just want to know if you can make heaps more money with forex, I heard the losses Can be pretty high also, gapping over stops etc
    High risk high return. The most import is money & risk management. I have been trading forex for 28 years. Forex trading is very lucrative, indeed.

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