According to Larry’s Cash Machine, a Harvard professor generated upwards of $38 million dollars in profit from binary options. Oh – and did I mention? Apparently he did this all secretly.
I swear, that sites Larry’s Cash Machine use more marketing buzz words than actual content. The promoted approach is supposed to be a big deal because a Harvard professor apparently discovered it (that’s a load of BS, of course). Likewise, using a very specific number for profits is somehow supposed to make it seem more real.
It isn’t real. None of it is.
I can tell you that with confidence because this site follows a formula. That formula is the same as every other site promoting binary options out there – and there are a lot of them.
My problem isn’t really with binary options itself. It’s a risky form of investing, sure, but if you were really into that sort of thing and had heavily researched the market, you might enjoy it. After all, people enjoy gambling, and the chance of winning is actually pretty similar.
What I hate about binary options is how it’s targeted. You can see this really clearly with Larry’s Cash Machine. The site very specifically focuses on binary options as a money making tool and it targets people who have never used binary options and who don’t even know what it is.
Binary options is incredibly easy to get into. It’s designed that way on purpose, and it’s one of the few types of trading where you just put money in and go. The problem is, actually being successful through binary options is a great deal more complicated.
Sites like Larry’s Cash Machine don’t teach you anything about binary options or what you are supposed to be doing. Instead, they give you a ‘magic’ piece of software and imply that it is going to change your life.
It won’t of course, but many people find that out when it is too late.
The U.S. Government
One part of the sales pitch for this product did make me smile a bit. That’s the idea that the software is so effective that the American government wants it banned (well… I believe he said ‘wiped off the face of the earth’ or something to that effect).
It wouldn’t surprise me if the government was trying to ban software like this, but if they are, it isn’t for the reasons the site suggests.
The thing is, software like this doesn’t work. It would be great if it did – but binary options brokers would go out of business pretty fast.
There’s one very simple way to know that it doesn’t work, this type of software is everywhere. I wasn’t kidding when I said that sites like this follow the same formula over and over again. They always do, and the ‘miracle’ software is always part of that formula.
If the government wants to ban it, that’s fine with me. Realistically, they would be banning it because the technique tricks many people into putting money into something that just isn’t going to pay off.
Of course, people like whoever is behind this site (not the fictional Adam) will just find a new approach, but still, I won’t be sad if this particular approach stops being so convincing.
The whole point here is whether you can make money with Larry’s Cash Machine.
The simple answer is no, not unless you got extremely lucky. To start off with, the approach isn’t free (despite all the claims to the contrary). Instead, you have deposit money with a binary options broker and then you basically bet with that money.
You normally have to put down at least $200 to be able to trade – and getting that money back out is extremely difficult. Additionally, you will probably end up losing a decent amount of money in trades, as the software doesn’t actually guarantee you success whatsoever. Binary options is a risky approach even for the most experienced trader and it is certainly challenging for people with no experience at all.
At the end of the day, making money online shouldn’t be risky. Otherwise, you risk losing everything that you put into the process. That’s not a great way to find freedom, is it?
But, with your own site, you have the chance to promote whatever you are interested in (even binary options if you really really want to). You also have a business that you can develop how you want to and grow over time.
This is something I talk extensively about in my email course and throughout this site. With proper training and some dedication, it's really not that hard to create a profitable website, and I can show you how!