Binary Options Method Scam Review. Recently we’ve been receiving quite a few queries about several binary options websites that teach trading strategies. We’ve been so busy investigating automated trading bot scams, such as Safe Guard Trader, that we’ve missed quite a few new websites that have popped up promising a winning trading strategy. Here at Binary Scam Watch Monitor we attempt to cover all the bases with our website. Please email us with any questions at all, including about trading strategies!
Official Site: http://www.binary-options-method.com/
DESCRIPTION: We don’t know the motivations behind the owner of Binary Options Method, but we can say with clarity that his strategy is not sustainable long term and should not be used…
Binary Options Method Scam
There are several ways to trade in binary options. The three most common ways are:
1 – Manual Trading: Analyzing the market and placing your own Call or Put signals.
2 – Copying Signals: Receiving and copying the signals of other traders, and placing them on your own broker account.
3 – Automated Trading Robot: Using a software system that places trades for you automatically into your broker account.
Out of all of these ways, manual trading poses the greatest challenge. We always admire traders that take the time to learn binary options strategies and then share those strategies with others. It takes a great deal of work, research, and patience to place one’s own trades. We have nothing but admiration for those people that spend years learning this craft!
That being said, not all strategies are cut from the same cloth. And not all traders put the same amount of effort into developing those strategies.
New traders don’t have the skill set under their belt to differentiate between solid strategies and sub par strategies. This often leads new traders into losing quite a bit of money trying and testing new ideas.
This is where the beauty of a demo account comes into place. Most major brokers will offer a free demo account where you can and should test any signal service and/or development of your own strategy or someone else’s. Always use a demo account before using real money when going this route!
The important thing to understand about trading strategy websites is that they all work under the premise of teaching you a skill, so that you will sign up with their trusted broker. This gives them their bread and butter and helps them make their work into a profit for them. There is nothing wrong with this. If someone takes the time to operate and moderate a website, answer emails, and post educational articles, they deserve to be compensated for this. Taking a broker commission is a win/win!
However, not all strategies are equal!
One such example of a trading strategy being marketed to the public is the Binary Options Method. The owner and creator of this website has outlined in pretty simplistic terms what the basis of his strategy is.
If the market trend is on an upward trend, you should take a call (up). If the market trend is on a downward trend, you should take a put (down). This is the bare bones of his strategy. To hear this in more detail, watch the video below.
This sounds like common sense, but sadly it is not. When trading binary options, the market may go in an upward trend, but suddenly change direction 2 seconds before your expiration time, resulting in a losing trade.
Likewise, even if the market IS traveling in an upward trend, it will not rise straight up. It might go up a few points, and then go down a few points, and so forth. This results in a long steady upward climb with lot’s of “rest stops” and “roundabouts”. For those of you that are avid hikers, like myself, you understand that when climbing a mountain, the trail may go down for a bit before going back up.
This is crux of the problem with the Binary Options Method trading strategy as outlined on the website. The market never goes straight up or straight down. If you take a CALL because of an upward trend, you may easily end up losing when your trade expires right in the middle of a small drop.
We don’t know the motivations behind the owner of Binary Options Method, but we can say with clarity that his strategy is not sustainable long term and should not be used. If you want to use it, please try it with a demo account first!
The best way to learn how to solo trade is by starting out by copying a master trader. This gets your feet wet and teaches you how things work. We have two systems that we recommend to new traders to teach them the ropes and help them advance in their knowledge.
The first is Social Trading with Tradeo, which you can read about HERE. Tradeo is a great option for people who want to copy a trader but also want to be a bit more involved. Feel free to ask us any questions you might have about this fabulous system!
We also have a strategy we recommend trying out, listed HERE. It’s fun, it’s unique, and we think you’ll enjoy trying it out! Give us an email with your results! Also, be sure to check out our tips for successful trading HERE!