FOREX VS BINARY OPTION
Forex vs Binary option

FOREX VS BINARY OPTION

By Tonyjamys | My FOREX TRADING ideas | 23 Apr 2020


d2a6a268c0431ea70cf08ccd14d735585ef31d553b62309d0d1c565fa955ecba.jpeg

Hello friends!


This is my first post on this blog of mine called MY FOREX IDEAS. I want to start by thanking you for stopping by.

This article tells a little bit of my experience as a binary option trader and a forex trader. Although in subsequent posts, I will dropping my analysis on different pairs; currency, stock index and the rest of the CFDs.

 


Forex trading can be seen as buying one currency and selling the other. Here buying and selling is done simultaneously. Here a long term movement is considered. And profits or loses is calculated from price difference called pips.

 


Binary option trading works in a way the trader has two options: up or down, call or put as the case may be, according to different brokers and trading platforms. Here a short term or long term movement as desired by the trader is considered. The profit or loss is determined by whether price move towards the trader's direction with the allotted time for the trade position or against the trader's prediction respectively.

 

THE CHART
The difference between forex and binary option charts is that;

  • Forex trading chart has bid and ask lines which form the spread. While on the other hand binary option trading chart do not have this feature.

 

  • Forex trading chart has up to weekly time frames being a long term investment, while Binary option trading chart mostly ends at daily timeframe.


Now you have seen the difference between FOREX TRADING and BINARY OPTION TRADING.
In my experience as a binary option trader, I was getting to emotional with my one minute and five minutes trades. Some times, I decided to set the trade expiration from 15 minutes to 1 hour.
Coming to FOREX TRADING I have the freedom of setting my stop loss and decide whether to quit the trade or not. Well! To some people, trading Forex is more emotional than Binary option .
I discovered I was more emotional then (binary option trading) than now .(Forex trading).
Greed was on high level in my binary option trading days due to the desire to make money and become rich within a short time.

 

I hope you enjoyed this article, if you have any question concerning the difference between forex and binary option, you can drop it for me to answer in the comments section.

 

Thank you for reading, tipping and liking.

 

See you in my analytical posts.

Best regards!!
Tonyjamys

 


Tonyjamys
Tonyjamys

I am a passionate writer. I write poems, prose and plays. I love seeing smiles on people's faces, I write motivational books and articles. I love Forex Trading as well. 📈


My FOREX TRADING ideas
My FOREX TRADING ideas

My FOREX TRADING ideas. Where you get stories regarding foreign exchange market and analysis.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.