If You’ve Decided To Get Into Binary Options Trading There A Few Things You Should Know.
First, this isn’t investing, it’s betting. There is nothing wrong with betting as long as you know what you’re getting yourself into and want to do it. The danger is that these sites sell themselves as legitimate investments. They hype their growth potential and minimize their risk. Also, like with any other gambling institution, the odds have been calculated to ensure the house wins. So the odds will be against you if you play, and you have to be aware of that going in. Therefore, Binary Options Trading will tend to attract those who like to gamble and like to watch the stock market. Putting some money on the fortunes of a stock can be exciting, especially if you like trading based on the minute to minute news and how it affects the market.
If You’re Still Serious About It, You May Want To Find a Mentor To Help You Learn The Game.
If you google mentors for binary options trading, a number of sites will come up but it is extremely unlikely that any of them are reputable. Most of the Binary Options Trading sites themselves are not reputable. They are based in Cyprus and, until recently, have not been regulated. The Cyprus Securities Exchange Commission passed a law last year ordering the sites to fall in line with regulation, but enforcement is still being put in place. Any mentor who is advertising themselves as a Binary Options Trading Expert, especially one that insists on its status as legitimate trading, is probably just a feeder for the site, and is trying to drive you to a site of ill-repute that will take your money.
The best way to find a mentor in Binary Options Trading, or any sort of trading, is to find someone who does it themselves.
When you’re looking for a community online you’re pretty much looking for a forum. A forum for traders will be a place where traders talk and trade tips among themselves. As such, you are much more likely to run across some traders who are practicing the type of trade you want. You can then contact them directly and ask for their assistance. Tutoring others in their ways has become a legitimate way to make money in the trading community.
In order to find Mentor in a forum you simply have to perform a search.
The same search that will return sites and scams claiming to teach you will probably bring up forums as well. Follow the forum links. You can then spend some time (a few weeks or a few hours depending on how impatient you are) looking through the threads and becoming familiar with the community. Once you know what questions you want to seek guidance on, you can create an account and join or start a thread.
Once you are a member of a trading community, it should be easy to find the help that you seek. But even with a mentor, remember that Binary Options Trading is a gambling game, and the odds are against you. Know what you’re getting yourself into.