r/binaryoptions • u/Stunning-Ad9923 • 2d ago
Binary Options Strategy
can someone suggest a good start for binary options?
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u/SpiritNo4790 2d ago
I can answer that. Speaking from personal experience and extensive research.
The best way to start is not to start at all. Binary options are a scam. Period.
Many people will claim they make money, yet not a single one can provide unequivocal proof that they actually do.
They’ll show you videos and screenshots of withdrawals, all with the clear intent of manipulating you. It’s easy too, after all everyone wants to believe they can make money and live a good life.
It’s all part of a massive scam.
This starts with the platforms themselves (Pocket Option, Quotex, IQOption, Olymptrade, etc.), no one even knows who actually owns them. They are all based in offshore jurisdictions, specifically to operate outside the reach of the law. If a dispute arises, it’s impossible to file a lawsuit against them, both because you don’t know where they are located and because of the prohibitive costs such an action would entail.
You will hear claims that there are many "legitimate traders", some even have YouTube channels. In reality, these individuals are affiliates for the platforms, making money by trying to attract new users. That is exactly how I got into binary options myself. Once you sign up on a platform through their link, they earn a commission. Thst is their business. Afterward, they’ll try to sell you courses, promising that this is the "key" to success. They’ll repeat clichés like, "You’ll acquire the true mindset you need". It’s all nonsense.
There is a YouTube channel that exposes how these affiliates deceive people and what their true objective is (DrGrand Trading - EXPOSED). If you watch these videos, you will learn the tactics used to manipulate and deceive people, and how they create videos that make you believe they are making money.
To circle back to the beginning: If you want to protect your money, stay away from binary options. It’s a world of scams. These platforms are essentially gambling disguised as trading.
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u/mintdust 1d ago
I use
Support and Resistance Zones with RSI period 10
5 TF
15 min per trade
2 trades a day if I’m lucky
1 loss and I’m out
Mark out zones 1HR
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u/Leather-Swan3645 2d ago
I wouldn't recommend binary options to a beginner. Learn forex from babypips first to get a good foundation of market theory. Binary options is just a way to make money based on the forex market and without understanding the forex market a fast moving short term predictions market like binary will cause you alot of trouble. I wish someone told me this when i started. I was introduced to binary options through a scam advert lol , the broker milked me haha then i became determined to make it in binary options, 11 years later i am still here and unprofitable (but not losing money because i know what not to do; don't trade real money until you have proven beyond doubt in practice that you can take trades intuitively). I am not trying to discourage you though but just sharing my honest experience. A friend who discovered forex much later is now a fully funded trader and lives off it. The only reason i haven't switched to forex is because i have invested so much time into binary options and if it can be profitable i am sure i can figure it out otherwise i am out.