September 3, 2015 at 8:50 am
First of all, I want to thank you for being the first one to ask a question!
Ok, so you want to know if it is possible to make a living trading binary options and how much you could make per day.
The answer is a big round YES, you can! I would advise newcomers like yourself to have some kind of job on the side to pay all your bills and so on. This way you won’t feel pressured to make money on a daily basis. Pressure is a good thing, but not in the trading world. How much you make per day will depend on your account size, the amount of trades you take and your winning percentage. So lets take a look at what you could expect to make trading binary options:
A beginner with a small account of $500 could expect to make anything from say $10-$50 a day depending on the percentage risk and the minimum trade size of the broker. Most new traders make no more than $100 per day. So lets take $50 average per day and multiply it with the amount of trading days in a month(20).
$50 x 20 = $1000
So as you can see if you make a profit each day you could make round about $1000 per month.
Now if you have a bigger account and you take trades with say $500 per trade, you can make roundabout $10 000 per month if you ONLY took one successful trade per day. ($500 x 20 = $10 000)
These are only rough guidelines to what you can expect when you are a successful trader. You will have some losing days or some days you would just be connected to the market and feel you want to take more trades. I know a few other traders that are making a killing by just trading binary options and taking only 1 to 2 trades per day.
Now that you can see what is possible, you be the judge if you could make a living of trading binary options.
Keep those questions coming!