Binary bet or Spread bet

This is a discussion on Binary bet or Spread bet within the First Steps forums, part of the Reception category; Hi, I'm new to trading, starting up with about 400.00 that remains from an old online poker account, I no ...

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Old May 14, 2007, 10:41pm   #1
 
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Joined May 2007
Binary bet or Spread bet

Hi, I'm new to trading, starting up with about 400.00 that remains from an old online poker account, I no longer play poker due to time constraints and had to raid my bankroll as i got married last year.

I do have good habits as regarding bankrolling requirements and obviously at 400.00 I'm looking at low stakes. In time i will be able to save to build a more realistic roll but want to get learning on this initial stake. I have no illusions about getting rich quick, this is really about the challenge and getting an education for now.

Right now I'm winning a little betting on the Dow through ChoiceOdds. My question really is whether binary betting is a good way to get my feet wet with trading or whether I'd be better off opening up a finspreads account and spread betting?
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Old May 15, 2007, 1:15am   #2
Joined Oct 2006
Silvershade,

I am fairly new to trading as well, and have been dabbling with both binary and spread betting.

It's not that one method is 'better' than another. Each method has it's place. I personally enjoy the range of bets you can make using binaries. E.g. One touch, range bets, hourly Up/Down which can fit really well as part of a trading strategy - or even to hedge.

With binaries you are basically betting on a yes/no outcome. It is very easy to lose your whole outlay, caught out by the often sudden quote changes.

I started with IG index. They allow you to start off at 10p/point which is great for getting the feel of it and testing out a strategy.

There is loads more information on spread betting and binary betting on those sections on this forum.

I am currently working on a plan,with a particular view towards binary betting the 'one touch' and 'hourly' FTSE. I would be interested to know how you get on.

Happy trading.
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Old May 15, 2007, 10:47am   #3
Joined Dec 2006
Lots of great info on Binary betting here if you are interested... it is the bulk of my trading now...

www.trade2win.com/boards/forumdisplay.php?f=97

SB has it's place but I get far more 'bang for my buck' with binary.
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Old Jan 13, 2009, 3:21am   #4
 
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Joined Jan 2009
I suspect the spreadbetting firms profit margins are greater with binarybets.This is because basic spreadbetting margins are pretty cut-throat.There are also too many firms springing up,so I suspect some may go bust.
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