Binary Trading – Secure and Economical

Introduction: Secure and Economical Binary Trading

If you’re a regular casino gambler, playing regular casino jackpot games, then you’ve probably looked at the possibility of moving into social gambling or, as is better known, binary trading. Though it requires a little more background research, it’s plain and easy to see why the gambler would consider this new market place, as gambling and binary trading have so much in common. So just what is binary trading and should you start to take part? 

In its simplest form, it’s a type of investment whereby you need very little knowledge about investing. Having said that there is another level to binary trading which is for professional investors. But the main takeaway is that binary trading is very easy to get into and you need zero experience to begin.

Now just because something is easy, doesn’t mean that it’s necessarily a good idea. If you look through YouTube videos on binary trading and social trading you will find many saying that it is the pathway to having a lucrative lifestyle. Many of these YouTube traders or so-all “gurus,” will be showing off their Lamborghinis, Ferraris and giant mansions. But don’t be fooled by these. There is some truth, that with some of these types of schemes, if you get it right, then you can enjoy amazing returns on your investments. But get it wrong, and you’re looking at certain bankruptcy.

So, What is Binary Trading?

With both binary options and gambling, one thing that’s similar for both is that new platforms and variations are constantly coming to market. One of the most popular variants to spring up is social trading. The general and simplified idea behind social trading is that it combines social networking with investment opportunities. In practice, it means that instead of investing alone, you team up with a group of other investors, as there is always strength in numbers.

Binary options trading works in the following manner: you decide which way you think the asset will go within a certain period of time. Essentially you make a bet and then see what happens. With social trading, you’ll find an entire community of traders who are operating openly and transparently together. This allows them to communicate directly and form relationships with other traders, even absolute beginners. And just like social media, this allows you to watch and track all the trading activity of these traders. Likewise, they can see your efforts. In other words, you can watch and learn how to win the jackpot.

Why Trade Like This?

Trading in this manner offers you the possibility of watching other traders who know what they’re doing before you act. It’s true that you cannot predict any trade, but by following a trader who has a good track record, then you’re more likely to make the right moves. Now, in theory, this form of social trading sounds like a win-win, and as such, you’ll find it’s very popular. By allowing other traders to follow and even mimic the actions of the experienced one’s means there’s less chance of taking a negative hit when you trade yourself. 

And as far as the trading platform goes, it makes absolutely no difference whether you win or lose because the platform takes a commission or a fee as a matter of course on every transaction. So it’s a bit like the casino taking a house edge. Talking of casinos, we recommend True Flip Casino. It has a huge number of gaming options, but, more importantly, a massive welcome bonus of 275% up to €1000 + 50 Free Spins!

As with all trading platforms across all markets, whatever the trade, and whatever way the trade goes, it’s always a win-win for the platform. So taking a simplified overview, it’s possible to imagine that this is a pretty much perfect approach where everybody comes out a winner. Ok, not everybody. But this system means that everybody has the possibility of being a winner or at least increase your jackpot winning chances.

Yet in spite of this, social trading has a number of critics and they’re not convinced that this is the way to go. To that end, we thought we would offer the pros and cons of binary trading. This way you’ll be able to make a responsible decision after you have summarised each approach. 

Binary Trading is Great Business

When it comes to the benefits of social trading, one of the most obvious advantages is the fact that you can jump on board without having a clue about what you’re doing. You can then take exactly the same investment opportunities and trades that the best players in the business are making. Obviously, this is a great opportunity that previously wouldn’t have been available to the general public. Going back a few years you would need to pay huge sums of money in the form of commissions and fees for trading account managers and professional tips.

Being able to build great relationships with successful traders is worth its weight in gold. As it’s these very relationships that will allow for the sharing of experiences and exchanging knowledge. Just consider for a moment the rarity of the situation in which knowledge is flowing downwards towards those who know little and yet at the same time they are able to benefit directly from this knowledge. To the same degree as those doing the sharing. And it goes without saying, that the more advanced your relationship with a successful trader, then the more knowledge will flow in your direction.

Being able to see real trades in real time, being performed by experts at successful binary trading is a boon to those who wish to check and monitor the actions of those at the top of this game who are most successful. It will provide valuable and unique insight into the way the whole trading business works. And there’s so little apparent risk. Like gambling without any house edge or with an RTP of 100%. 

Binary Trading is Not Such a Great Business

Now we covered the upside, let’s have an honest look at the downsides of binary trading. The biggest one of these is that, as a novice, you are simply following the actions without truly understanding what you’re doing. As they say, a small amount of knowledge can be a dangerous thing. Essentially you are making choices based on simply following or mimicking those in front of you, as opposed to having an education and training to understand fully the implications of your own actions. For the majority of new investors, this is the wonderful thing about social trading, in that you don’t have to learn anything whatsoever before diving in with real cash.

You can contrast this approach with actually bothering to learn the required skills yourself and then setting up as a trader, with a knowledge and understanding that would make you successful in binary trading in your own right as opposed to simply following someone else. Unfortunately, there’s always someone who wants to make sure that we can’t enjoy nice things. There are many binary traders who have been accused of using their position of authority to take part in deceptive behaviour and practices when it comes to social trading services. It’s obvious that those who know what they’re doing are able to manipulate those who do not.

There have recently been cases whereby there has been a deliberate intention to deceive. In many of these cases, the more experienced binary traders were able to get out of the trades like a bandit, leaving everyone else massively out of pocket. Playing at being an investor using short term stocks is always going to end badly if you don’t know what you’re doing and rely on a third party.

Should I Try Binary Trading?

The problem is that the debate into the rights and wrongs of the ignorant investors playing at buying and selling stocks is still ongoing. As such, there have been no key results as to whether you should try your hand at binary trading or not. Of course, you can simply watch from the bylines and not hand over a single penny. If through research you discover a reputable, responsible, and recommended broker, then maybe you should open a free account. Just like opening a free account with True Flip Casino. You can play until you’re comfortable with the gameplay, and only then invest your cash.

This is an account, just like a free casino account, whereby it’s not necessary to deposit any funds. Use this account to look over and discover how the whole binary trading world functions. This will help you formulate jackpot winning strategies.

We suggest that once you’re confident with a basic level of social trading knowledge and decide you want to trade, always start out modestly. Don’t get sucked into the big boy chatter. As this is a shore-fire way for things to end badly. Simply put, you can’t make money if you’re ignorant, and though luck will take you only so far, it makes you an unreliable business partner.