Are there limits to trading binaries?


#1

I want to say that im very excited about trend catcher…ive already went through the training course and I think its exactly what im looking for in a trading system. Im going to sign up later on tonight. My question is though: are there limits to trading binaries as far as how much money you can make? From a few things ive heard, my impression is that binaries are your starting point but you eventually want to move on to futures/spot forex. I believe darrell said something in the preview video for trend catcher to the effect of using the five minute binaries to make money in between trading futures. Of course he didnt say that this is a MUST, but that just got me to wondering. From my point of view, if trading binaries with trend catcher is a sustainable system all on its own, then why would you want to bother with anything else? If you have the potential to make your days goal in a matter of minutes, why do anything else? Which is what leads me to wonder that it may not be a full time income kind of thing.Do all the different systems just boil down to personality and what the trader is comfortable with? Im hoping that my perceptions are wrong because I have spent a lot of time trying to understand binaries and I want to eventually trade full time…frankly, unless the real money is in futures and the like, then I dont even want to bother with them. I just want to trade binaries. Is that realistic or no? Sorry to ramble on, just wanted to get my thoughts out. Any response is greatly appreciated :slight_smile:


#2

There is no limit on how much you can make but you are limited by three factors: 1 How much money you have in your account. 2 How many lots are available. 3 Profit or loss on each lot.

You can trade binaries full time and not trade futures.You are correct that it boils down to personality and what the trader is comfortable with. You are given the rules and it is up to each trader to develop their own style.If you want to trade the five minute binaries then that is what you should spend your time own. Concentrate on five minute and then add some of the others if you want to. Master one then move on to another.

What Darrell was referring to is when you trade futures there will be times you are not in a trade. You could use the five minute binaries to fill in during this time and make some extra money. This is not required but just a suggestion.


#3

Thanks very much redace for answering my questions; that’s very encouraging :slight_smile: I guess I should never say never about trading futures, it’s just that I never thought of myself as having a mind for this kind of thing at all, so for me it’s a big accomplishment that I have been able to comprehend binaries at all, and am just kind of weary at the thought of learning something else for the time being. Of course, Darrell Martin and all the helpful people here at Apex deserve a big “thank you” for helping me learn! I wish everyone success in their trading endeavors. Thanks again!


#4

Many traders just trade binaries Many trader just trade futures or forex Some traders trade both I prefer to have multiple system. This allows me to be ready for a variety of market conditions and even hedge myself out if say one fo the system does not do as well on that particular day.

Redace is right

Account size will be a limitation - dont worry about it until your taking out the book on all 4 markets by yourself on every trade :slight_smile:

Same goes for number 2 how many lots are availble - until your trading 120 contracts at once dont worry about it

And your p/l and number of wins losses will of course determine your bottom line

Once you start trading futures and you see what can be made in a single trade combined with a tight stop you wont want to stop but you need the appropriate size before getting there. And you will get bored waiting on setups and will want to have other trades so your getting paid to sit there and trade.