My Binary Code

Profile picture of the author Legend Dude by Legend Dude Posted: 03/27/2012
I got access to this system a few weeks ago, but my problem was that the graphs weren't easy to read. Has anybody had any success using MyBinaryCode?
#binary #code

  • Profile picture of the author Scott Casey
    Scott Casey
    Its one of those things that sounds too good to be true? Curious if anyone makes a deposit at one of the brokers and actually gives this a try...
  • Profile picture of the author TrafficBot
    TrafficBot
    The real money he makes is from people signing up for the binary trading brokerage accounts. The vendor gets like a $150 per sign-up. I know this because I am an affiliate at Global Options. Its a smart way to get CPA commissions for the sign-ups.
  • Profile picture of the author ezeeforall
    ezeeforall
    Thank you very much 'stockette' for your concise review of My Binary Code. I took a look at this the other day, and it intrigued me, so I came here to the Warrior Forum to see if anyone had tried this out yet. Your review of this product explained a lot to me, and I especially liked the fact that you're an experienced trader.

    I understand the need to invest in a real business, and you say that their is an initial outlay of $500 minimum in order to have an active account to participate in this platform? Is this correct? If so, then thanks for mentioning this as well. I was not aware of this.

    I am more interested in being an affiliate, and offering this product to my subscriber lists really. Something that actually works, is easy to implement, and is ethical. These are the criteria I go by when offering a product, program or service to my lists. Got to keep them happy.

    One last thing. I have a close friend who is a day trader, and though he makes a very comfortable living doing what he does, he has to dedicate many hours to it (most of his time actually). I do not envy him, or want his situation for myself or anyone else I'm doing business with. Just my observation.

    Thanks again stockette for your most informative review.
  • Profile picture of the author AmazingP
    AmazingP
    Guys, this is something nice to continue on discussing here. Of course, those sites dealing with trading will have an affiliate program and promoters will make money if we sign up under their ref links but this thing (which is so common by the way in our internet marketing industry) should not deter us to find more information and maybe later risk some money.
  • Profile picture of the author Sornie Samante
    Sornie Samante
    I was intrigued with My Binary Code too. I really thought of trying because it seems really profitable. Imagine earning $500 in one hour working from the comfort of your own home. That's a lot of money of course.. Thanks for the reviews guys. This is why I love this forum, I always get the right information at all times.
  • Profile picture of the author ezeeforall
    ezeeforall
    Originally Posted by stockette View Post

    Hi ezee -- this is totally different from "trading" in the traditional sense. You should ask your friend to have a look at this. You basically have a 50:50 shot at getting this right as opposed to trading where you're really after a specific price and you need more significant moves to make any real money. You can get it right with binary options with a small move and make the payoff of 70-90% return. But do your homework first and spend time with the demo before using your own money. I have a list of additional questions to ask my broker and will keep you up.
    Thanks for the additional information stockette! I really like the 50/50 odds of making money with this type of trading. I'll mention this to my day trader friend, see what he thinks.

    Yes, by all means keep me up on how it's going for you!
  • Profile picture of the author ezeeforall
    ezeeforall
    Originally Posted by Sornie Samante View Post

    I was intrigued with My Binary Code too. I really thought of trying because it seems really profitable. Imagine earning $500 in one hour working from the comfort of your own home. That's a lot of money of course.. Thanks for the reviews guys. This is why I love this forum, I always get the right information at all times.
    Yeah, me too.
  • Profile picture of the author Sornie Samante
    Sornie Samante
    Originally Posted by ezeeforall View Post

    Yeah, me too.
    So good to know
  • Profile picture of the author mish_h
    mish_h
    I also came across Binary Potions and jumped on WF to see what people have to say. stockette this sounds like you now what you are doing I would love to keep updated on how you go
  • Profile picture of the author jamesbgr
    jamesbgr
    Definitely not as easy as it is purported to be. Funnily enough global options don't provide a demo even if you deposit because they reckon it's easy enough to get into it, unlike normal forex apparently. I see not much difference other than the capped losses and winnings.

    I really think this was an exercise in the author getting people to sign up via his affiliate link to the reccomended brokers.

    For the record I also tried this out on a demo account with GFTUK and I'm faring no better than when I tried out "real" forex a few years ago. I will not try this with real money.
  • Profile picture of the author mish_h
    mish_h
    I opened a demo account yesterday with Nadex.com. they give you $25.000 to play with,you don't have to deposit any of your own money. I also had no idea what I was doing but somehow managed to make about $2000 over the day. I just placed the up or down according to the graphs FrankieLee talks about. I placed about 10 orders some for quite a few "sizes"
    The interface is quite complicated and I have no idea when the options are sold or bought as I am in AU in a completely different time zone. Somehow I manged to win a few that paid out well. But I have no idea what I am doing!

    And I agree with James, the binaryoptions website is just a way for them to sign up as an affiliate, the rest of the links on the page don't even work!
  • Profile picture of the author alleycatnews
    alleycatnews
    i have been an affiliate for many years in binary options. LOTS of stuff to watch out for. Spreads, slow payouts, kiss your money good bye if you do bonuses. Also bbinary is not based in NYC that is a po box you can buy for $50 a month at trump tower.
  • Profile picture of the author ezeeforall
    ezeeforall
    Originally Posted by FrankLie View Post

    Well...

    I got an email from mybinarycode.com about this a couple days ago. I watched the demo video and read about it and basically got the same information that you guys mentioned above - it's a 50/50 chance of things going you're way. Hmmm...

    I tried to do as much due-diligence as I could and I didn't find anything negative, only that there's a 50/50 shot, which could go both ways

    So I went ahead and signed up with GlobalOption.com. At that site they offer bonuses for your deposits. When I signed up they were offering a $250 bonus if I deposit $550 in my account. I was like sweet! I did that and the next day I had $800 in the account. I read as much as I could from the site, tried to study what I could, but really - I have absolutely no experience and I have no idea what I'm doing when it comes to this stuff...

    From the mybinarycode.com site they offered a link to "real time graphics", which display graphs of a bunch of options that one can trade. When you watch the mybinarycode.com demo video, all that one gets out of it is "follow the graphs". If the graph shows an upward trend, then put a CALL for that particular option. If the graph shows a downward trend, then put a PUT for that particular option. If the graph doesn't clearly show an upward or downward trend, skip it. Sounds pretty easy and it didn't seem like anything was "hidden" or that there's some kind of scam or anything like that...

    Since I was soooo anxious to actually test it out myself, I went ahead and placed my trades. I placed 6 trades - 4 PUTs and 2 CALLS. They followed exactly what the mybinarycode.com site said to do. I LOST ALL POSITIONS!!! In 4 of the trades I bid $50 each and the other 2 I bid $25 each. For some reason you still get a return when you lose, a very small return. Actually, it's not a return, but since they feel bad for you, they let you keep 10% of what you lost... I lost a total of $229 in an hour! Mannnnn! I was upset... I figured with a 50/50 shot, I will at least makeup a lost position with the high returns on the others!!!!! Well... didn't win one! So I went to withdraw the money I had left in my account. From the $800, I had $571 left. I deposited $550, so technically I didn't lose any money, just the "bonus". Well, I was wrong here as well! It turns out that if you accept the bonus, you have to trade 5x the amount that was deposited + the bonus. In my case that's $800*5= $4000. So I can't withdraw any of my money until I trade a total of $4000!!!!! Wow, they know how to get you!

    I also didn't know that there was a demo that you could play with and trade, at least not with Globaloption.com. I will go look again to see if there's a demo one can use to make "fake" trades before using real money. I would HIGHLY recommend that... If Globaloption.com doesn't have a demo to practice with I will withdraw what I have left of my $550 and go to a site that does... Can ya recommend one please?

    Also, looks like I'ma need your help stockette I guess the 27 years of experience in trading helps...

    Guys, be careful! This is for sure not as easy as it looks...

    Thanks for your review FrankLie. Like I already mentioned, I would be more interested in offering this to my subscribers (but only if it really worked, of course). And upon visiting their site again, I had questions, but no FAQ, or contact link(?) ...a bit too sketchy. So I will hold off for now, but will keep an eye on this thread.

    btw, I appreciate your honesty very much.
  • Profile picture of the author Michael Field-Dodgson
    Michael Field-Dodgson
    I read the posts here and it does make me shudder! I trade forex and this sort of market is not something you can go into and without any experience do well. 50:50 is no good, you need at least 60:40 (win:lose) and even then in my books that is marginal.

    The reason I say "I shudder" is that the focus and discipline required to be a good trader is massive. Emotion has to be kept outside.

    If you want to trade options, someone who I have learnt to trust has an offer available and I can tell you you will be very well looked after. I am not an affiliate and I am not into options - forex is my game.
    Go and look at this WSO: http://addictivetext.com/blog/click/ant-handshake-wso/

    Oz is a good man, very experienced in this area and a helpful son-of-a-gun.

    Cheers,

    Mike F-D
  • Profile picture of the author stan07
    stan07
    I also came here looking for answers about this system. Like anything that makes those sorts of figures there is a learning curve involved , listening to you guys has made up my mind this is'n't for me.
  • Profile picture of the author gpxint
    gpxint
    Not sure if any of you know Steve, but he states unequivocally that
    binary options trading is a scam, both form a trading & affiliates
    perspective.

    I Quit Binary Options - YouTube (to mods: this is not my video)

    Buyer beware!
  • Profile picture of the author ezeeforall
    ezeeforall
    Originally Posted by gpxint View Post

    Not sure if any of you know Steve, but he states unequivocally that
    binary options trading is a scam, both form a trading & affiliates
    perspective.

    I Quit Binary Options - YouTube (to mods: this is not my video)

    Buyer beware!
    I was not able to find much real, honest info on Binary Codes. Talked with my day trader friend who had a look at this. Said it is doable, but a learning curve is needed, however, he questioned the legality of this program. Anyway, just sharing my latest on this with everyone.
  • Profile picture of the author sahuja
    sahuja
    Thanks everyone for all the information. I have been getting so many emails about mybinarycode and after watching the simplicity of the program as advertized, it looks pretty easy to earn money out of it but when I saw this thread, I feel that it is not my cup of tea.
  • Profile picture of the author Chronic IM
    Chronic IM
    Hello!

    They will not accept an account with less than $500.00. This is a real program and is from the "scalp trading" used by currency traders. You should totally try it. It's safe I guess. Why did you asked? Are you planning to use this system?

    More power.
  • Profile picture of the author TrafficBot
    TrafficBot
    I have made $800 in profit using the binary code method since march. It is fairly easy to set-up and trade but I use eztrader which allows you to start trading with only $100. The video can be found here:


    There is a more detailed training video in video description and a link to start trading with only $100 with eztrader.

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