Lately been playing with FX binary options.
They are essentially gambling tools which is just a bet whether prices will hit within a certain timeframe.
Yes, I am gambling, and this is not good.
But from a cost perspective, they are cheap. A single contract minimum sized binary option costs between $6 - $94 with the chance to earn $100 if you get your bet right. Hence technically if you bought a low-odds binary option costing $10, you'd potentially multiply your bet by 10X! I guess this is where the draw of binary options lies.
Have to try to stop or reduce my betting sizes.
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