With the success of digital or binary options, you would not think people would question if you can make money with them. However, we get questions all the time from folks wondering if you can really make money with binary options.
Even though the binary option market is not controlled by Wall Street (at least not now - Wall Street does have their eyes on the industry), there are banks, gaming, and other players getting involved.
The odds of making money with binary options are acutally much higher than with other types of trading. For instance, the US futures market shows that only five percent of investors make money consistently. Other reports show that on any given day as many as fifty percent (or even higher by some estimates) of a binary options broker's traders have made some money.
Because the binary market is not regulated (again, at least not yet), it is nearly impossible to get a complete picture of the industry and how many traders are successful. At best, you can only go with what binary brokers will tell you (and most of them won't give you any numbers).
The best estimates I can give are based upon the traders we have taught over the years. Our successful futures traders were well over the five percent industry average (from the surveys we have taken over the years). Our early results for binary trading has been even higher. Of the ones who answer our requests, well over fifty percent were making money with binary options.
So, what is the secret to making money with binary options? Well, there are no secrets really when it comes to trading anything. The information is out there, you just have to do your homework. Then, test your strategies before you put real money on the line. You can do the research yourself and no doubt find the binary strategies you need to be successful.
The better route would be if you could find a course or someone who is actively trading that will share their strategies with you. If you are currently trading futures, forex, commodities or anything else, your market analysis can be the same. It is just that when you pull the trigger on a trade you are buying an option instead of a futures contract or other vehicle.
So, can you make money with these fairly new digital options? YES. If the odds don't sound that great to you, just compare them to success rates in other financial industries.
Doug West has worked in Financial Planning and Investment training for over 20 years. He has helped thousands of folks earn a living at home and online
Get Doug's Free Binary Option Report & Discover The Best Way To Make Money With These Simple Trades.
Watch Doug's recent trading video on you tube: