I need help on Option Trading

[Hamphser]

I can only give advice to stay away from option trading because option trading is the same as gambling,
I know Binance also provides this trading feature but it would be better if you avoid it,
not just like gambling but you can lose all your capital there if you trade wrong.

Options trading is a gamble! No doubt with that!

Dealing up with volatility on short time scale is just like suicide.You cant apply any technical indicators.Why i can say so? I do have experience on having those options trading in IQoption.

I have tested on Bitcoin which way before i do deal up with indices and foreign currencies but do ended up on having a blown account due to failed emotional handling.

If you arent that good enough or well experienced on trading then its better not to touch up this area because you would just basically be losing up your money.

[justdimin]

Just like traditional trading, futures trading has been a very good innovation in the crypto space, yet I still feel incomplete without trading Bitcoin with Option. I was happy to see the Option trading feature with Binance, which is my only exchange, but they offer a different kind of Option trading from the traditional one I know. Their style of offering is designed to make one lose as your winning is not guaranteed even if the difference between the striking price and the price at expiration is in your favour.

Option trading is not a place for people who need help. If you need help then you shouldn't be trading options. I have been in crypto for longer than most people here, and even I do not go into it. Because, I know that if I need help and I can't do it, then it is on me and it’s my own problem and no one else’s.

Everyone should be aware of it like this, you can't put the problem on someone else and ask them to solve it, getting help on how to learn is like that, because you want others to take the responsibility and teach you stuff, and you shouldn't rely on the kindness of the strangers, it wouldn't really make sense in this situation.

[GeorgeJohn]

I can only give advice to stay away from option trading because option trading is the same as gambling,
I know Binance also provides this trading feature but it would be better if you avoid it,
not just like gambling but you can lose all your capital there if you trade wrong.

No trading that is not involve risk measure, so comparing trading as gambling will give you a  setback, so therefore what you suppose to do in trading is to scrutinized or understand the basic concept of trading before you could venture into it, because from my perspective i confirmed that trading involve many measure to make it to be successful, so therefore it needs more attention or focus to study and comprehend immensely to the disadvantages and advantages of trading, anyone who jumped into trading without knowing the rudiments of trading will definitely ends up with a negative results via trading.

[Mpamaegbu]

It seems my BTT people don't trade Option as I thought. I expected more suggestions and options for me to look into than what I see from the responses received so far.

You should know that there are few regular traditional traders here than hodlers. Those who even trade like to stick mainly to Spot and Futures, not even dabbling into Forex or Binary. So, don't be offended that your quest hasn't been properly attended to. I steer clear of Options as I consider it pure gambling. Maybe others do too.

Option trading is good and interesting in Forex, Crude oil and other traditional markets, which was why I wanted to try it in Bitcoin which is easier to speculate for that purpose.

It's good to know you've a different perspective towards Option Trading. Maybe you will teach us a thing or two about it by dedicating a thread to it here on how it's done. I will be glad to follow up on it. We learn everyday. I know how Forex, Spot, Binary and Futures work. It won't be a bad thing to add Option to my repertoire.

Options trading is a gamble! No doubt with that!

You can say that again! How else does one indulge an instrument that is timed to expire at a given duration in a volatile market and not classify it as pure gambling? Perhaps OP will tell us more about this.

[EarnOnVictor]

Option trading is not a place for people who need help. If you need help then you shouldn't be trading options.

I guess your reply was borne out of the subject because I never said I needed someone to train me about Option trading. I only need people to suggest alternative exchanges to Binance that offers a quality Option trading service for me.

I can only give advice to stay away from option trading because option trading is the same as gambling,
I know Binance also provides this trading feature but it would be better if you avoid it,
not just like gambling but you can lose all your capital there if you trade wrong.

If people could engage in real gambling, why should I and those cashing out from Option trading steer clear? I believe that some advice is not necessary, Option trading is about the person in question. I that is yearning for a good exchange that offers Option trading must have been earning from traditional Option trading.

Once you have a good strategy that works well for a specific time expiration, stick to it. Also, it is the responsibility of anyone to manage their money and the risk they take, which is equally important for any leveraged trading.

You should know that there are few regular traditional traders here than hodlers. Those who even trade like to stick mainly to Spot and Futures, not even dabbling into Forex or Binary. So, don't be offended that your quest hasn't been properly attended to. I steer clear of Options as I consider it pure gambling. Maybe others do too.

Thank you for this reply, I myself have noticed this after no satisfactory reply from anyone for about a month now. I believe that crypto is still young and the competition by exchanges will later force them into offering Option trading, though might take time. Mind you, option trading is reasonable gambling if you are a good speculator unlike real gambling (gaming, dice rolling and others).

[dunfida]

I can only give advice to stay away from option trading because option trading is the same as gambling,
I know Binance also provides this trading feature but it would be better if you avoid it,
not just like gambling but you can lose all your capital there if you trade wrong.

No trading that is not involve risk measure, so comparing trading as gambling will give you a  setback, so therefore what you suppose to do in trading is to scrutinized or understand the basic concept of trading before you could venture into it, because from my perspective i confirmed that trading involve many measure to make it to be successful, so therefore it needs more attention or focus to study and comprehend immensely to the disadvantages and advantages of trading, anyone who jumped into trading without knowing the rudiments of trading will definitely ends up with a negative results via trading.

Always make yourself to know at least the basics whenever you do deal up something new or you dont really have any knowledge at all but we know that there are certain trading types which does have different level

of risk and this one which had been pertained on OP was options trading which we know that this is really something that cant be deal off with anyone and its nature where decisions should be making is really involving

on very short duration.Even you do consider yourself to be veteran on trading but doesnt mean that you would be high chances of profiting on options trading.
I have tested out for myself on how risk this type of trading is which is never been recommendable for noobs.

[EarnOnVictor]

I did not know it would take me this long to get a good pointer from my fellow BTT member regarding my search for an appropriate Option trading exchange that will not be cheating as I explained on the first page. In case anyone has skipped this, please, I still need the direction towards the site/app that will satisfy this quest. Perhaps, I should ask it in the gambling section for more audience to view it?

I am still yearning for Option trading exchanges that could offer the service differently from Binance, specifically in the traditional Option way.

[xSkylarx]

I can only give advice to stay away from option trading because option trading is the same as gambling,
I know Binance also provides this trading feature but it would be better if you avoid it,
not just like gambling but you can lose all your capital there if you trade wrong.

No trading that is not involve risk measure, so comparing trading as gambling will give you a  setback, so therefore what you suppose to do in trading is to scrutinized or understand the basic concept of trading before you could venture into it, because from my perspective i confirmed that trading involve many measure to make it to be successful, so therefore it needs more attention or focus to study and comprehend immensely to the disadvantages and advantages of trading, anyone who jumped into trading without knowing the rudiments of trading will definitely ends up with a negative results via trading.

I think it applies to all as you as you are earning money from it you should spend time learning on it. As you can see other newbies that are doing trading they usually  jump to telegram groups that was giving signals since they are lazy to not learn. In trading as long as you spend time on learning trading for sure youll gain profit that is why take your time in learning trading

[Oneandpure]

I don't recommended with Binance as place for future trading due faced many bad experience there, ever got liquidation after my stop loss not working yet although price have touch based on my setting for stop loss working when price coins drop. There are unbelievable when using take profit with limit order not filled yet although price was up than my selling order.

But Binance is worth for spot trading, right now I don't active with future trading and I don't know which one recommended exchange use for future trading but Kucoin seems better to try.

[Kgdktac]

the type of options trading that you are describing, where the outcome is determined by the difference between the striking price and the price at expiration, is known as a European-style option.

      The options trading offered by Binance, on the other hand, is likely a binary option, which is a different type of option contract.
 In binary options, the outcome is binary (i.e., you either win or lose) and is determined by whether the underlying asset's price is above or below a certain level (the strike price) at expiration. Because of this, it is not uncommon for a trader to win the bet even if the market price is not in their favor.

[palle11]

I can only give advice to stay away from option trading because option trading is the same as gambling,
I know Binance also provides this trading feature but it would be better if you avoid it,
not just like gambling but you can lose all your capital there if you trade wrong.

It is not gambling if you want to do the right thing. All forms of trading involves research and you must have to do that. It is when you don't do that you think of it as gambling but it is not. You have your indicators and research guidelines to go through and also the chart is important. Gambling has no chart and it outcome are strictly based on luck.

[Xampeuu]

I can only give advice to stay away from option trading because option trading is the same as gambling,
I know Binance also provides this trading feature but it would be better if you avoid it,
not just like gambling but you can lose all your capital there if you trade wrong.

It is not gambling if you want to do the right thing. All forms of trading involves research and you must have to do that. It is when you don't do that you think of it as gambling but it is not. You have your indicators and research guidelines to go through and also the chart is important. Gambling has no chart and it outcome are strictly based on luck.

but the option that I'm not interested in is that we have to wait for a predetermined time so we can't stop before the allotted time runs out. this is different from trading, where we freely determine our actions at any time in the market. in options it becomes difficult I think sometimes the market used seems to be manipulated because it doesn't match the market in general. and I don't know if this is called gambling or not, but I think it's difficult to live it

[TheGreatPython]

It is not gambling if you want to do the right thing. All forms of trading involves research and you must have to do that. It is when you don't do that you think of it as gambling but it is not. You have your indicators and research guidelines to go through and also the chart is important. Gambling has no chart and it outcome are strictly based on luck.

but the option that I'm not interested in is that we have to wait for a predetermined time so we can't stop before the allotted time runs out. this is different from trading, where we freely determine our actions at any time in the market. in options it becomes difficult I think sometimes the market used seems to be manipulated because it doesn't match the market in general. and I don't know if this is called gambling or not, but I think it's difficult to live it

This was still part of trading, and that is why it has a trading on its name however its only on a different variation but one should study it first before engaging so that he can perform it well. It's normal for the market to move in other directions as opposed to what you predicted and it does not mean that there are manipulations going on it.

Even in the normal spot trading, it does happen too. There is no way we can make predict the market accurately and if so then all of us here are now rich. You know when it's similar to gambling if you don't know what you are doing. If you find it too difficult then you better not continue than incur more losses.

[milewilda]

It is not gambling if you want to do the right thing. All forms of trading involves research and you must have to do that. It is when you don't do that you think of it as gambling but it is not. You have your indicators and research guidelines to go through and also the chart is important. Gambling has no chart and it outcome are strictly based on luck.

but the option that I'm not interested in is that we have to wait for a predetermined time so we can't stop before the allotted time runs out. this is different from trading, where we freely determine our actions at any time in the market. in options it becomes difficult I think sometimes the market used seems to be manipulated because it doesn't match the market in general. and I don't know if this is called gambling or not, but I think it's difficult to live it

This was still part of trading, and that is why it has a trading on its name however its only on a different variation but one should study it first before engaging so that he can perform it well. It's normal for the market to move in other directions as opposed to what you predicted and it does not mean that there are manipulations going on it.

Even in the normal spot trading, it does happen too. There is no way we can make predict the market accurately and if so then all of us here are now rich. You know when it's similar to gambling if you don't know what you are doing. If you find it too difficult then you better not continue than incur more losses.

I can consider options trading to be some sort of gambling considering that you are playing with price movements whether it would be going up or down on a specific period short of time on which there's no way that you could really be able to know or apply analysis specially when dealing up with cryptocurrencies considering about on how volatile and unpredictable it is.How much more on making up some analysis on few minutes?
Come to mind off that that most technical indicators been make used and mold of arent precisely effective on long term or mid-time duration.How much more on short time?
For those who could bare up with the risk then go ahead but its not really that something recommended.