Which one of the following two offers is more appealing to you? Making a 70% return on an easy to understand, short time investment; Joining a coin-tossing game in which when you loose you pay 1 euro and when you win you gain 70 cents.
Most people take the first offer and stay away from the second one. And yet … they are basically the same! Welcome to the wonderful dual world of Binary Options!
You can play binary options merely for entertainment and have great fun.You might even win a lot of money, provided that you get lucky and do not stay long, just like in Vegas… Or, you can trade binary options for fun and profit. This is what this book is about: it is a practical step-by-step guide that shows you how to trade systematically, how to identify profitable trading strategies, and how to select and use a sound money management system. In short, how to have fun and make money!; Trading Binary Options for Fun and Profit: A Guide for Speculators;
walks you through what you need to know and do to trade binary options profitably. Since this it is not a work of fiction you will not be shown the magic formula that will make you rich in the blink of an eye. Rather you will gain the fundamental knowledge and tools needed to become a successful trader. You will learn to develop your own strategies for trading binary options profitably. Actually, a lot of what is covered here is easily adaptable to other types of trading such as the stock and Forex markets and even to sports betting. That said you do not need to have any prior knowledge of binary options, trading or math. Just start reading at the beginning and proceed sequentially. All what you will need to know is clearly spelled out. If you happen to have previous knowledge of a topic you can proceed directly to the next one without losing context. However if you are in doubt it is better to read through. This book is fluff free so it won’t waste your time. Trading Binary Options for Fun and Profit: A Guide for Speculators;
starts by defining what a binary option is and how it works, the main types of trades available and the criteria you may want to consider when selecting a binary options broker. Then it proceeds to explain why using trading strategies makes sense and where you can find ideas to create or adapt them. Ultimately you will want to know if your trading strategy makes money so it also shows you how to calculate the magic number that tells it all: its Expectancy. Since trading strategies are built upon technical indicators a very brief overview of Technical Analysis follows and some very common indicators are presented. Next explains the MetaTrader platform and shows you how it can serve as your own cost-free research assistant and trading signal provider. It then goes over the details of developing and improving a trading strategy using Excel and Expert Advisors (no programming knowledge needed). Money Management comes next: you will get to know several systems and in the process learn how easy it is to do a Monte Carlo simulation to test them (or to test anything else). The book ends with an overview of the complete methodology and leaves you with some final trading suggestions. Finally, in the Appendixes you will find several resources that are made available for free to the buyers of this book:
- Six spreadsheets containing templates for the Martingale, Paroli, D’Alembert, Fibonacci, Percentage of Bankroll and Kelly money management systems;
- Examples of trading strategies that backtested with winning percentages above 60%;
- An Expert Advisor that pops-out an alert window and plays a sound on MetaTrader each time a new trade is opened.