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Thread: My concept about binary option

  1. #1
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    My concept about binary option

    Dear readers, most of the people think that binary option is gambling, and it is prohibited in the religion of Islam, I am also a strong believer of Islam and I know that gambling is prohibited in Islam, but if we see the binary option, and our trading in real account, then there are some similarities that we can see and understand about this concept. I am not telling that binary is gambling or not, I am telling what I think about it.

    In classic trading, we use two tools mostly, one is take profit and other is stop loss, if we open a trade with take profit and stop loss, then it means that we think that market may move in that direction which we are expecting, similarly we use this myth in binary option, but with less risk, because the difference in my view between these two trading, (binary and classic) is leverage. If the market hit the stop loss then you lose the money, similarly in binary option, if market is not moving in your favor and not hitting your target then you will lose only that amount which you used to open a trade, you don't need to wait for market reversal.

    But besides these concepts and believes, I don't usually trade with binary options, what are your opinion? please share here.

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  2. #71
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    Quote Originally Posted by davido View Post
    Binary option act same way with forex, but when you go to the 60seconds option trading then you will understand that, that's pure gambling because it about guessing and that's involve either loss or profit, so that option of binary option is complete gambling in my own experience, but when we talk about the other method it same with forex and no gambling about that.
    It is good to work with the binary option with the good pans you have. If you are working with the 60 seconds on the binary option work frame, then, you are likely to be gambling, except you have the good strategy you can work with. And i am not sure that this is so feasible for traders to make success trading that low interval.

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