Binary Option Sucks: But Why?

Binary Option Sucks: But Why?

Submitted by adil on Mon, 01/21/2013 - 06:01

Binary option sucks! You may have heard this phrase thousands of times from binary options traders and through other platforms. We often say this after facing a loss in binary options but tell me honestly; have you ever thought why binary option sucks. There is a reason behind everything and in this article we will try to find the reason behind our failure in binary options.

If you have lost your investment in binary trading then this does not mean that there is some fault in binary trading, it can be opposite. 80% of the binary traders lose their investment due to their own carelessness and they blame others afterwards.

1. Lack of Industry Knowledge

   Majority of the binary traders take their investing decision without collecting any background knowledge about the industry they are working in and assets they are going to trade. This results in unlimited loss.

2. Poor Decision Making

   Decision making is a great skill but unfortunately only a few people have this skill. Being a trader, it is very necessary for you to take decision keeping in mind all the factors in order to decrease the chances of risk.

   Some traders take buying or selling decision without taking into account the economic conditions, central bank news, global politics or any upcoming event as these entire have a direct impact on the price of currencies and commodities.

3. Lack of Planning

   When it comes to binary options trading then planning is very important. You should plan everything before practically investing in this market. This is where most of the traders fail. Lack of planning leads them to failure.

4. Use of Inefficient Strategy

   Majority of the binary traders especially those who are new to the industry have bad experience with brokers. They hire blacklisted brokers mistakenly which causes them serious trouble.

5. Problems With Brokers

   Majority of the binary traders especially those who are new to the industry have bad experience with brokers. They hire blacklisted brokers mistakenly which causes them serious trouble.

These are some common mistakes done by the traders who suffer loss and end their trading career by assuming that binary option sucks.

Learn from other people�s mistakes and avoid them while trading in binary options. You may join our platform to get in touch with latest market trends and news updates. In addition, we also have a huge team of highly professional, experienced and reliable brokers that will help you in avoiding any pitfalls while doing binary trading. Signups are totally free. Join today to save your money and build a bright trading career. Good luck!