Why Trading Binary Options?
What is unique about binary options trading is that investors can take fixed odds bets on the direction of the market, unlike any other product on the market. What this means is you know exactly how much money you risk and how much money you will make if you made the right prediction. As these trades have short durations of a few days or few hours, positions are closed very fast and you know the result very soon.
This is very different from trading the markets in the old-fashioned way, where traders may keep their positions for an unknown period of time, with the pnl going up and down every day as the market fluctuates. But with digital options (another name for binary options) your position does not fluctuates with the market. It is either in the money (profitable) or out of the money (unprofitable).
Hence the name binary, as there are only two cases, right or wrong. This simplifies your trading strategy and removes the headaches. As all is determined before you pull the trigger, once you make a trade there is nothing to worry about as the position will take care of itself.
Of course if you decide to trade binary options, it does not mean that you do not need to study market behaviour and trends. Accurate forecasting is still the core skill to develop, but what is easier is how the trades are implemented.