The short answer is, YES.

But who likes a simple, one-word affirmative? So we set out to collect real stories from our day-to-day experiences that would explain how trading binary options for a living really works. And what better than the story of actual traders doing just that right now?

Luis Alberto (Twitter profile link) from Peru is one such client of ours who started his Binary Options account with a humble two-digit fund in his account, and made a whopping 8647% return (yes, you’ve read that right) in just one year. Incredible as it is, he has achieved this with a clear strategy and consistency in his trades. Here’s how his trades look like over the past several months.

Luis Alberto

Luis Alberto Atuncar Sanchez – Chimbote, Peru

Return on Initial Investment Win/Loss %
Aug’ 15 202% 63/38
Sep’ 15 310% 75/25
Oct’ 15 418% 100/0
Nov’ 15 2500% 60/40
Dec’ 15 4447% 100/0
Jan’ 16 8265% 100/0
Feb’ 16 8328% 67/33
Mar’ 16 10504% 75/25
Apr’ 16 8879% 60/40

 

Luis agreed to share his valuable insights he had gained from his experience trading BO with NoaFX, so beginning (and aspiring) Binary Options traders could benefit from them. So we did an interview with him, and we’re proud to share the story with you. Here goes.

 

How did you come to know about Binary Options?

I came to know about Binary Options through a friend who trades Binary Options for a living.

 

Did you have a mentor?

Nope.

 

Then how did you learn Binary Options?

Well, I researched on the web about binary options trading in various trader forums and Youtube videos.

 

It is not an easy thing to trade with a return percentage of about 8500%. How did you achieve this?

Nothing fancy, really. I just studied and applied fundamental and technical analysis in all my trades. If you’re serious about your analysis, you fail less and less.

 

Though Binary Options are quick trades, do you still think patience plays a key role in your trades? Are you patient by nature?

Yes, like in Forex trading, in Binary Options also you have to be very patient, steady and wait for the right time to enter a trade. We must also learn to handle win and loss with a stable mind.

 

What are the main rules do you follow while trading BO?

There’s one primary rule that I follow. Enter a trade only when there is a clear trend for the chosen time period.

 

What attracted you to Binary Options trading?

The ease of obtaining good profits in a short period of time.

 

You seem to prefer manual trading over automated trading? Why is that?

Well, manual trading helps me better decide on my own trading requirements and strategy, and on when to enter the market. In simple terms, manual trading gives you more control.

 

What is your favourite trading time-frame in BO and Why?

1-5 minutes, because that kind of time frame allows me to adjust my trades in line with my analysis on the fly. I don’t like to enter the market for longer time, since this can get stressful.

 

How is your trading experience with NoaFX?

Very good. The staff are knowledgeable and have helped me in no time with my queries. The company is also quick in withdrawals.

 

Which of the tools given by NoaFX are most helpful to you?

Signal trader is very good.

 

Can you please suggest some tips for beginner traders who want to be successful in BO?

Start with a demo account and be very consistent in the way they operate; not filled with magical indicators, or templates. When your demo account is profitable, go for the live account without pressure. Not every day turns out as favorable in the market. Bide your time and place your trades.

 

Which of these features offered by NoaFX do you use the most? Please feel free to add a comment about each.
  1. Placing Multiple orders
  2. Placing Pending orders
  3. Time-frame ranging from 60 sec to 7 days
  4.  BO EA plugin

I choose 3 (the range of available time-frame). That has been very useful to me. I only use time frame of one to five minutes.

 

How do you think NoaFX stands out from other brokers when it comes to Binary Options?

One particular aspect that I appreciate is the speed and quickness at which you could open trades at the price indicated.

 

So, there’s a real story of a trader who has made a tremendous profit in Binary Options trading (and who does it for a living), by demonstrating his determination, consistency and patience. How do you think you’d fare in trading BO?

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