Why you should never trade BinaryOptions esp. with Optionbit.com
On Oct. 4th I took a trade on a binary options platform,specifically Optionbit.com
This trade is to demonstarte that I feel I've been played by the Optionbits system and lost tht trade.
I took a SHORT on the Bull bar betting prices would fall for the next 30 minutes. My short entry was at 1.36199
Now after 30 minutes (25 minutes + 5 minutes(count down time right before expiry )) Prices Never EVER EVEEEEEEER closed above my original entry price ,but It was deemed a lose by the platform. In fact ,TO THIS DAY and many more days to come, prices are still falling below 1.36199
As it can be seen in detail :
ALL NUMBERED BARS CLOSED BELOW MY ENTRY , I SHOULD HAVE BEEN 'IN THE MONEY'.
So why did I lose this trade ?
:(
I've kindly sent them this on the same day,requiring an explanation but unfortunately I was only told how expiry time works,what volatility means,and If I'm using the economic calendar etc.. what's even upsetting was the fact they were pointing out that they use REUTERS as a data provide,which has nothing to do with how price behaves. REUTERS doesn't create Price levels nor HIGHS/LOWS.
Anyways,I generally suggest traders should be very skeptical about ANY Binary options platform and their Bonuses etc.. Unfortunately for me it's amazing how consistently I lose on this specific platform then similar others.
Have you ever traded Binary Options, please let me know what you think!
Cheers
This trade is to demonstarte that I feel I've been played by the Optionbits system and lost tht trade.
I took a SHORT on the Bull bar betting prices would fall for the next 30 minutes. My short entry was at 1.36199
Now after 30 minutes (25 minutes + 5 minutes(count down time right before expiry )) Prices Never EVER EVEEEEEEER closed above my original entry price ,but It was deemed a lose by the platform. In fact ,TO THIS DAY and many more days to come, prices are still falling below 1.36199
As it can be seen in detail :
ALL NUMBERED BARS CLOSED BELOW MY ENTRY , I SHOULD HAVE BEEN 'IN THE MONEY'.
So why did I lose this trade ?
:(
I've kindly sent them this on the same day,requiring an explanation but unfortunately I was only told how expiry time works,what volatility means,and If I'm using the economic calendar etc.. what's even upsetting was the fact they were pointing out that they use REUTERS as a data provide,which has nothing to do with how price behaves. REUTERS doesn't create Price levels nor HIGHS/LOWS.
Anyways,I generally suggest traders should be very skeptical about ANY Binary options platform and their Bonuses etc.. Unfortunately for me it's amazing how consistently I lose on this specific platform then similar others.
Have you ever traded Binary Options, please let me know what you think!
Cheers