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New traders often make mistakes such as taking way to big a position for one trade, taking a bad loss, and then staying way to small the next 5 times. They may even experience winning easily on small trades, but they never make back the big loss. After knowing all the pitfalls, why would a new trader ever decide to open a binary options account and become a trader?
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I have a quarter which I will flip at in the afternoon. You can buy guesses right up until the actual coin toss, as many as you like.
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The Bottom Line Binary options are financial options that come with one of two payoff options: a fixed amount or nothing at all. That's why they're called binary options—because there is no other settlement possible.