I've tried both binary and forex. From my experience it is more or less like this:
Binary:
- Contract-based working method, if I'm not mistaken, remember at least 3 minutes of contracting up to days.
- We just have to choose to buy or sell.
- If the buy and when the contract closes the price is above our entry price, then we can make a profit according to the contract size, for example 0.5 dollars.
- Our losses depend on how much the contract value is and the contract amount depends.
In my opinion, the drawback lies in the pros. Very speculative, even though there are ways to have a high chance of winning. Profit can only be obtained from a close position, if the buy entry is above the initial price we profit, if selling below the entry we profit, if it is not a loss and a profit. During the contract period we can't do anything, inevitably we have to wait for the contract to finish.
Forex:
- Complete analysis.
- Traders have the flexibility to close positions at any time.
- Resistance based balance
The advantage of forex lies in the flexibility of a trader to close his position. Whatever, as long as the above five minutes we can get closer. For example, I buy, then the price goes down, but half an hour later it goes up, and I close. I have made a profit here. If the price still falls, I can hold it until the balance is not strong. Only the risk is forex as big as our balance, because if the analysis is wrong and the funds are not strong then we will be MC.
Conclusion
I choose forex. The reason is that I fit his business style. Sharp analysis, honed mentality, and strong funds. The key is these three things. While binary is less like it because it focuses more on the last chance, where at the second the price can suddenly reverse.
