In a word – no. Obviously, if you go in with no idea what awaits you, everything will likely come down to dumb luck and you will probably experience losses. However, by preparing before their ventures, traders can significantly increase chance for profit. Skill and experience play a significant role in this kind of trade.
Binary Options Gambling | Tools
Each person who wants to trade with binary options has a number of tools at their disposal. For example, a demo account can easily be acquired which enables traders to test their ideas and strategies with no threat to their money. It also helps beginners to see how the whole thing works and what awaits them should they decide to take on the real thing. Apart from that, another significant tool which can raise your profits significantly are Binary Options Trading Signals – information provided by the experts about a certain asset. Since it is obviously very difficult to keep track of all markets, one can simply ask for help from a person who is simply more knowledgeable than the trader and gain valuable information. This way you can find out about good opportunities which may occur on a market which is outside your area of expertise.
But probably the most important thing in all this is the constant monitoring of the market that interest you. A trader has to be aware of all factors that have the power to influence the price of an asset and then be able to act immediately to seize the chance which may present itself. In addition, some strategies may take longer time to implement, so time is certainly an important factor to consider in this business.
Binary Options Gambling | Odds
These are just some of the reasons why binary options are nothing like gambling. Consider for a moment that the odds are always stacked against the player in a casino. In a game of roulette, for example, the player has no way of increasing his/her chances of winning which are already quite small. Not only are the chances for profit much higher with the binary options to begin with, but you can also do something to further increase them when investing your money. It’s not like you just throw in your money and hope for the best; you can manage the risk and do a lot to diminish it.
Binary Options Gambling | Conclusion
In conclusion, the main difference between binary options and gambling is the fact that a trader has more things to rely on than just pure luck while a gambler has to beat the odds that are always overwhelmingly stacked against him/her. This gambler cannot use any tools, cannot run a simulation of his/her strategies in a safe environment and cannot ask anyone for a helpful advice. Skill, knowledge, experience and a minimal amount of time are the things you need to be successful in dealing with binary options. Plus, there is also a vibrant community of traders and experts who are willing to share their knowledge and give helpfull advices – knowledge that can lead you to substantial profits.