Last week I decided to investigate binary options, and compare them to trading futures.
I opened an account with Optionbit.com for just $500. Did it all on-line, and was all set to go in less than an hour.
Each trade (these were paper trades) used a $100 option.
Each day I showed a profit.
Monday......$125
Tuesday.....$100
Wednesday...$225
Thursday....$50
Friday......$75
Total profit for the week: $575
I am amazed! All I used was my usual indicators. When a number of indicators came together AND there was less than 10 minutes left before expiration, I placed a trade. After to admit, there were a number of trading opportunities I passed on because I did not feel comfortable with larger amounts of time till expiration.
If you are not familar with binary options, they expire every 30 minutes. Well, that is how it works at optionbit.com.
All-in-all, this was a much less anxious and more profitable experience than I have ever had with playing the EMINI futures.
I'll be back next week.
