To make things a little clearer, let's use Google shares as an example. Google shares, at the time of Millionaire’s Code Review writing this article, are being traded at around 880.23. A Binary trade on Google would offer the trader a choice of whether Google shares would either go up or down. Within a Binary Options platform, the trader would see a graph representing the Google share price over a period of time, the current price and two buttons to the right of the graph. The buttons indicate the two choices of 'up' or 'down'.
In this example, the trader chooses 'up' together with an expiry trade time stamped at fifteen minutes from the execution of the trade. Fifteen minutes later, the trade closes. https://www.linkedin.com/pulse/millionaires-code-review-james-austin If the price is higher than 880.23, the trader has profited. If the price is lower the trader has lost.
Are Binary Options For You?
The first thing to bear in mind that, with all investments, there is an element of risk. Just as people make money trading, people can also lose money. The main differences between trading Binaries and conventional trading are as follows:
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