This week I'll be reviewing Binary Options Bully. I purchased this product for $77 with a 60-day money back guarantee. The nice thing about this product is that it's a system for trading and not a monthly subscription service, so no recurring cost. The claim is that you can make significant profits trading binary options outside of your 9 to 5 job.
If you're not familiar with binary options, it's simply placing a bet (in the form of an option) that a foreign exchange currency pair (Forex) will end above or below a target price after a specified amount of time. For example if you buy an option that it will close higher than the target and it does, you will make an 85% or so profit. If it were to close below the target you would lose your investment. Your investment can be as little as $25 per trade. If you're not sure about binary options you could probably use this system for traditional Forex trading; however, there are no exits so you may want to just set a standard "take profit" such as 10 pips. So now all you need to know is which way the price is going to move during the next 15 minutes. That's where Binary Options Bully comes in.
Once you purchase the product you will download a zip file containing a 53-page instruction manual PDF, a pivot point calculator in both Excel and Open Office (free spreadsheet program) formats, and instructions for the calculator.
The system is fairly easy to understand. You'll need to use an MT4 platform on a 15 minute minute chart to get some data from the prior trading day. Pretty much any Forex broker will allow you to paper trade an account and give you access to a live MT4 platform for free. Once you have your data you plug it into the spreadsheet to calculate the support and resistance lines. You then overlay the lines on the MT4 chart. Now you're set up for your trading day. You'll work under a few simple parameters to find potential trades. If everything checks out you place your trade just before the next 15 minute bar. If you are successful you will have just earned 85% in 15 minutes.
I'll be test driving Binary Options Bully this week and update the blog next weekend. Follow me on Twitter @CraigsMoneyBlog for daily updates. Have a great week!
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8 comments:
I’m not particularly sure to what kind of investor I am, but I know how to invest on an asset through binary options, and that is what I am currently enjoying right now. As optionfair review ouroptionfairreview.com introduced me to binary options, I found my way later on trading binaries by helping me with graphs and signals I need. I might say I am not too dependent on their signals alone because I am working very hard to search the web so I can make a successful trade.
Binary trading in binary trading www.24option.com requires you to guess the future price of any product. If your guess is correct then you will get yields but if you failed, you will lose all your capital investment.
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