Just had this idea when I was sitting in a cafe last week while trying my best to enjoy the ginger-lemon tea, which I ordered only because I’m nursing a cold and some really thick phlegm to go along, to share with you my thoughts on Binary Options Trading, versus Running a Business.
For many people in my country, “Starting A Business” would mean hunting for a deciding what to sell, and very often it’s food-related, then getting rental space, getting permits to hire a few local and foreign workers. I hate to generalise, but the people are in my country are generally not too savvy about the marketing and promotion bit. Just like that cafe I was having a tea in. It was next to empty. It had about 20 tables in there, and at dinner time, there just 2 other tables were occupied. Service was real prompt. Of course. There wasn’t anything else for the servers to be busy with.
As I was about leaving that day, new patrons came in, and occupied another 4 tables. Which meant, 7 tables in an hour or so – but that could also be all the customers for the evening.
It was a pricey joint. Drink prices ran from $7 onward (even that tea I had). Main courses started at $18.
I did some quick math. 2 per table. Typically order 1 main course and a drink. Possibly split an appetiser. Average spend $32 per person. 7 tables. $224 for the evening. Then there’s two waiters, one cook, one kitchen assistant. Each probably get’s $7-10 per hour. Maybe the cook gets a bit more. Yet, they don’t just come in for the dinner hour. Boss has to pay for all their time in between lunch and dinner.
It doesn’t take a genius to figure that, $224 dinner takings barely covers labor costs of the staff staying from after lunch thru dinner. Given the location, I can imagine the heat and lack of shelter would be a big deterrent for lunch-hunters during the day as well.
What About Binary Options Trading?
As I sat there, doing those calculations and simulations in my head, I was also recapping that, the day before, I made $600+ on my $100K Challenge Binary Options account, which started with just $1000 two weeks prior, and how I make an average of $150-200 on that account per day.
It’s like comparing a trade that has to go on for months, a year, or years, before you can assess whether it’s profitable – and even if it isn’t, it’s not like you can immediately pull out, versus the series of 2 or 10 minute binary option trades that I do.
Coming to think of it, just about everything is a “Profit or Nothing” binary option. It’s either, yes, the business idea makes a profit, or no, it flops for a loss.
Neither am I suggesting that everyone should just trade Binary Options. Because then I wouldn’t have any nice peaceful cafes with prompt service to chill and take trades in. But no matter what someone’s doing or plans to do, I think there’s one very useful concept they can learn from Binary Options Trading… and that’s “Trade Selection”, i.e. How To Spot Trade Better And Martingale Less. Another topic for another day.