The Hot New Old Way to Trade Converted into Rapid Fire Options Expirations – And We’re Getting All Excited About The Weeklies…
Look, you have all sort of simpletons and outright scammers (derivations, mutation of broker marketing campaigns plus other shady marketers putting out “magic robots” that will say anything, make up anything, make up any screen shot to just try and get you to deposit money with them) out there trying to preach binary options. They are trying to label binary options, usually as ‘gambling’ when these schmucks don’t have a clue about trading and couldn’t trade their way out of a paper bag. (And we’ve seen a couple bright binary minds out there – check our resource section for more.)
Understand this: All trading and investing is gambling, taking a chance, no matter how much ‘informed, fundamental research you do’. So is driving a car. So is marriage! (my how that’s turned into quite a low probability bet these days!). But…. you can place bets of high probability with 65% to 90% winning probability over and over and net out some serious cash flow over time!
What is “gambling” ?
Well I’ll define the ‘gambling’ people are referring to when they talk about gambling as a bad thing: bad gambling or better said “compulsive gambling” is the pursuit of the emotional highs (and unwittingly lows) that come through winning. It’s a similar pursuit as chasing after an elicit drug high. In binary options I would venture to say that ANY binary trading without an exact TRADING SYSTEM, even binary strategy trading (where one tries to ‘optimize’ for the ‘best trades’ – is bad gambling!
Some say ‘oh binary options are illegal’ ‘i read it on a website…’ That’s wrong too. They are completely legal in the USA. Doubt me? Ok go to the www.cboe.com and write them, call them up if you can and tell them they are breaking the law by offering binary options… Yeah.
Legality issues at the moment are dealing with the process of regulation. It’s just a processes and quite frankly the binary options brokerage industry is handling it quite well. (remember all of those scammy Forex brokers? Well i think the binary options industry in combination with fierce competition in addition to people like me holding them accountable and guys like David at binary daily – has learned some lessons and they fear the consequences!). Each country is still trying to figure out the binary options industry.
The other problem is the business model with most binary brokers – the ‘house’ model. (house model vs. exchange model).