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  1. #1
    Administrator Martin Kay's Avatar

    Short Binary Options Explanation for Newbies !!!

    Hey all newbies and starters, a Straightforward Explanation for Binary Options trading. Take your time reading this article before even thinking about trading binary options.

    http://www.binaryoptionsthatsuck.com...d-explanation/

    Originally posted by Bogdan G.

    Lately we see more and more types of Binary Options being available for trading. Sometimes it can get confusing, especially for a new binary option trader. The brokers usually do a pretty good job explaining the differences between them, unfortunately sometimes they lack the simplicity in their explanations and most of the time they are concerned with telling us how much money we will make. Thatís the reason why we find it appropriate to explain the main types of Binary Options in a simple and easy to understand manner and, of course, using pictures. After all, we all know a picture is worth a thousand words. Ok, letís get the ball rolling and start with the most common type of binary, the UP/DOWN option.

  2. #2
    Rookie Member
    I think IN and OUT Binary option is best for trading on Asian market since Asian market most of the times are very slow. it is just not good for fast trending markets so if you in for a slow trending market which is what Asian markets are known for then the tool will do quiet a good job for you.

  3. #3
    Senior Member Grae's Avatar
    bitterB.

    That's very useful information... Thanks!

    Kind regards.

  4. #4
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    A good article to explain different types of binary options.
    But I think it lacks information regarding "why it sucks and why it doesnt". A little more information about advantages and disadvantages of using a specific type of option will help beginners to choose what is best for them.

  5. #5
    Master Member Bogdan G's Avatar
    Quote Originally Posted by M.J View Post
    A good article to explain different types of binary options.
    But I think it lacks information regarding "why it sucks and why it doesnt". A little more information about advantages and disadvantages of using a specific type of option will help beginners to choose what is best for them.
    Hi M.J.,
    The information you are looking for exists in the article but not in it's classic form "Why does it suck/Why it doesn't suck". Instead, it is named "Conclusion in 50 words" (you can find it at the end of each type of Option).
    However, the article focuses more on explaining the different types and then, once the trader understands each type, he can choose which one he likes and which one suits his style and mindset.

    All the best
    Bogdan G

  6. #6
    Rookie Member
    Hi,

    I'm reading all the wonderful material in bots and so I'm not sure about what I'll say, but it seems to me that something is missing in school, like:

    - Binary Options Platform Reviews its sent there in lesson 2, but what are they really? I guess different software's that brokers use as interface to traders? Is it this? In that case, how thats usefull to newbies?

    - Binary Options Trading Tools - What tools should I have to start with? I should have choose a broker and whats pieces of software should I install. Looking at MetaTrader4, I need to connect it to some broker site, right? Witch one? And isn't MT5 out? There wont be differences between info showing on MT4 and on broker site due to different lag/update time?

    - You talked about software that "advice" you how to trade (up arrow/down arrow). Whats the names of some of those software that plugin to MT4?

    Finally is it possible to place on brokers reviews the minimum amount to trade. I think that info is important in order to know how many trades we can have access with our initial investment.

    Also, a huge thanks to Bogdan G. It a lot of work to write all those articles, specially because they are so well written

    Cya,
    Telmo

  7. #7
    Master Member Bogdan G's Avatar
    Quote Originally Posted by tcardoso View Post
    Hi,

    I'm reading all the wonderful material in bots and so I'm not sure about what I'll say, but it seems to me that something is missing in school, like:

    - Binary Options Platform Reviews its sent there in lesson 2, but what are they really? I guess different software's that brokers use as interface to traders? Is it this? In that case, how thats usefull to newbies?

    - Binary Options Trading Tools - What tools should I have to start with? I should have choose a broker and whats pieces of software should I install. Looking at MetaTrader4, I need to connect it to some broker site, right? Witch one? And isn't MT5 out? There wont be differences between info showing on MT4 and on broker site due to different lag/update time?

    - You talked about software that "advice" you how to trade (up arrow/down arrow). Whats the names of some of those software that plugin to MT4?

    Finally is it possible to place on brokers reviews the minimum amount to trade. I think that info is important in order to know how many trades we can have access with our initial investment.

    Also, a huge thanks to Bogdan G. It a lot of work to write all those articles, specially because they are so well written

    Cya,
    Telmo
    Telmo, first of all it's nice to have you here. I am going to try and answer your questions:

    First one: yes, the platform is the interface that a broker uses to give us access to the market. To place a trade, you need a platform and that is why it is useful to newbies and also pro traders.

    Second:Hmmm, I think you should start with trend lines and Moving Averages to get a sense of direction. They are both very easy to use. I have already written an article where I explain about Moving Averages and one about trend lines is coming up in a short while.
    To get MT4, you need indeed to get a demo account from a Forex broker (it's free) and they will show you the steps for installing it (it's really easy). After you have done that, the MT4 platform is already connected to that broker (but u will use it just for charting purposes). Look for a broker with good liquidity providers. I don't want to say any Forex brokers names, but usually the big brokers also have good liquidity providers. Forget about MT5 at the moment. It's not reliable enough...yet

    Third: I would recommend you to learn the basics first (this is a good place for both the basics and the advanced things). Do not start your trading journey with software that advices you how to trade. It's very difficult to find a good one and since I think you are at the beginning of your journey, it's hard for you to tell the difference between a good software and a bad one. I will never use anything else than my head for trading so I cannot recommend you a trading software. But I strongly recommend you to stay away at least for now.
    It's not really my place to answer your last question because my reviews are on broker education.
    Thank you very much for your kind words regarding my work. It's very important for me
    Hope my answers helped and feel free to ask more.

    All the best
    Bogdan

  8. #8
    Veteran Member Ammeo's Avatar
    Quote Originally Posted by bitterB View Post
    I think IN and OUT Binary option is best for trading on Asian market since Asian market most of the times are very slow. it is just not good for fast trending markets so if you in for a slow trending market which is what Asian markets are known for then the tool will do quiet a good job for you.
    I'll back ur point.....my most profitable sessions r mostly the asian sessions...

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