new to Binary Bets

This is a discussion on new to Binary Bets within the Fixed Odds & Binary Betting forums, part of the Markets category; Hi Just been reading up about binary bets for the last few days and just wanted to know if I ...

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Old Mar 13, 2007, 11:58am   #1
Joined Nov 2004
new to Binary Bets

Hi

Just been reading up about binary bets for the last few days and just wanted to know if I got the right concept.

Eg: Ftse finish up 35 – 38
#I’m I right in saying you can only buy at 38 here and NOT sell (for ftse finishing down) for that you will need to use eg. ftse finish down 65-68?

#The “sell” of which ever market is to close the bet or settle your losses?

#Can you place bets once the market has closed for the next day or is it simply for in the trading day?

I was really amazed buy the way binary bets work and a Sh#%$ load of money is to be made very quickly but can’t see a sensible way of limiting losses, seems like a real gamble (all or nothing).

K
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Old Mar 13, 2007, 12:25pm   #2
 
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Quote:
Originally Posted by ketank
Eg: Ftse finish up 35 – 38
#I’m I right in saying you can only buy at 38 here and NOT sell (for ftse finishing down) for that you will need to use eg. ftse finish down 65-68?

#The “sell” of which ever market is to close the bet or settle your losses?


K

No, you can sell at 35 and if the FTSE finishes down, then your bet would expire at 0, So you would make 35 points.

Hope this helps

Blu-Ray
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Old Mar 13, 2007, 2:46pm   #3
 
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Binary Bets

Fist time I've posted so bear with me!

Ketank,

I've been doing Binary markets for a while now (mainly Dow, later in the day) & your right, you can make (or lose) a lot of ££ quickly, but isn't that the nature of binaries?

Do the experienced binary people out there think you need a different mentality when dealing on the binary markets, as against the more conventional markets? (ie take a long term "average" of their big losses against their big wins)

Particualy interested to hear from people who have successful over a long term period & on which binary markets.

Cheers.
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Old Mar 13, 2007, 7:51pm   #4
Joined Mar 2007
hi all,

i'm new to binarys and am also interested to hear if any ones doing well long term, in the short time i've been trading them its been on the hourly dow mostly after 4pm but not in the last hour.

It seems to me that the best ways to approach this is to go for either low priced bets buy eg 0-20/25 or buy 75/80?

In the short time i have been using binarys i have got the direction right each time and have seen all my positions moving well into profit however i am only slightly up overall, so i need to know when to take profits or get out of a bet. still its a very volatile thing and the potential for good profits seems to be there.

Any ideas greatly appreciated.
bd.
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Old Mar 13, 2007, 8:51pm   #5
Joined Nov 2004
ketank started this thread
Quote:
Originally Posted by Blu-Ray
No, you can sell at 35 and if the FTSE finishes down, then your bet would expire at 0, So you would make 35 points.

Hope this helps

Blu-Ray
Thats good

but why do Eg.Finspread have 2 markets?
right now: Wall st down on the day 98-100 (if i place an order I can only Sell)
Wall st up on the day 0-2 ( only buy)
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Old Mar 13, 2007, 8:59pm   #6
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ketank started this thread
Quote:
Originally Posted by brutusdog
hi all,

i'm new to binarys and am also interested to hear if any ones doing well long term, in the short time i've been trading them its been on the hourly dow mostly after 4pm but not in the last hour.

It seems to me that the best ways to approach this is to go for either low priced bets buy eg 0-20/25 or buy 75/80?

bd.

That what I'm thinking but say you buy at 75/80, my target for this trade is £100 which will makes my stake £5. That mean I will I could potentially loose £400, if (big IF but still a IF) I'm wrong.

So you could be right 10 times but 2 or 3 wrong trades and you are wiped out.

Scary!!!!!!!!!!!!!

Last edited by ketank; Mar 13, 2007 at 9:08pm.
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Old Mar 13, 2007, 11:25pm   #7
Joined Mar 2007
hi ketank,

Thats right if you buy at 80 and 5 per point then max win is 100 quid but potential loss is 400. However if there is only short time left on the bet the chances of winning should be high and the price almost at the target...with this system you need to be right more often than not!

Guess it depends on how you look at it / personal tolerances i'm sure some people make money both ways. I havent tried fins for binarys but will have a look am quite happy with IG so far my guess on the two markets is that they have to offer both and they should run paralell to one another?!

Hows your betting going? Good hopefully

cheers
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Old Mar 14, 2007, 12:54pm   #8
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ketank started this thread
Quote:
Originally Posted by brutusdog
hi ketank,

Thats right if you buy at 80 and 5 per point then max win is 100 quid but potential loss is 400. However if there is only short time left on the bet the chances of winning should be high and the price almost at the target...with this system you need to be right more often than not!

Guess it depends on how you look at it / personal tolerances i'm sure some people make money both ways. I havent tried fins for binarys but will have a look am quite happy with IG so far my guess on the two markets is that they have to offer both and they should run paralell to one another?!

Hows your betting going? Good hopefully

cheers
do IG have 1 or both ftse markets?

ftse down on the day
ftse up on the day ?

I'm not betting live on Binarys yet, i have paper traded since monday:
Mon -£55
Tue -£50
Wed, look to win 100 if ftse stays down.

so -£5 so far........

I'm clear on how to bet and the principles but what you loss is so much more than what you win, so cant see how you could be profitable with the possibility of a few wrong trades now and again?

I think it comes down to how you look at this, like stated by you earlier, if the bet is in your favour than shouldn’t worry about the BIG possible loss? Is that right?
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