new to Binary Bets

ketank · Mar 13, 2007

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

Blu-Ray · Mar 13, 2007

ketank said:
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

Gurah · Mar 13, 2007

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.

brutusdog · Mar 13, 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.

ketank · Mar 13, 2007

Blu-Ray said:
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)

ketank · Mar 13, 2007

brutusdog said:
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!!!!!!!!!!!!!

brutusdog · Mar 13, 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

ketank · Mar 14, 2007

brutusdog said:
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?

ketank · Mar 14, 2007

Since my biggest fear is what i could loose.....

Do you think Double up and Double down bets are more safer......

If my target for the day is £100, my bet will be £50 so i will eaither loose £50 or make £100 always working on 2:1 odds.

Is that how it works???

So how is that different from binary bets.....................................................?

CONFUSED OR WHAT!!!!!!!!

Gurah · Mar 14, 2007

Personally I think you have to decide a loss limit for the day (and stop if you hit it), otherwise you can end up chasing the market, which is even more dangerous (and costly) than other markets.

Worrying about a BIG loss is very relevant in the binaries market - however I presume people who are posting on this board don't sit on their 75/80 buys until they are close to 0? Surely its better to cut your losses when market <50 (ie the odds are now against you winning).

This is one of the few money management techniques I use in binaries - anyone have any others?

brutusdog · Mar 14, 2007

Hi Ketank,

Firstly IG run ftse up or down markets, they also have points targets for the day eg. ftse to finish up 0-5 ftse to finish up 5-10 and visa versa for down markets. They also run a one touch high and low points bet eg. if ftse hits 6000 but then retraces to finish above but you bet on a one touch the bet would finish at 100.

Secondly what you loose doesnt have to be more than you win, thats only the case when buying over a price of 50. Given that i find its better to buy bets in the direction of my choice when the actual price is moving opposite to this direction this useually results in getting better odds/ lower price...

The double up down you described is spot on and the perameters fixed. however your winnings are limited to that ratio as well so you need to be right with your bets more than 50% of the time to make money consistantly, if thats the case they are a great choice.

Last thing...it all depends on the time frame you are using for your bets and how you are detemining the direction in which to trade? im still learnung too so would be interested to find out..

cheers

brutusdog · Mar 14, 2007

by the way your down bets looking good, i dont see the ftse going lower than 6000 yet though maybe a no touch bet is a good call what do you think?

ketank · Mar 14, 2007

brutusdog said:
Hi Ketank,

Secondly what you loose doesnt have to be more than you win, thats only the case when buying over a price of 50. Given that i find its better to buy bets in the direction of my choice when the actual price is moving opposite to this direction this useually results in getting better odds/ lower price...

The double up down you described is spot on and the perameters fixed. however your winnings are limited to that ratio as well so you need to be right with your bets more than 50% of the time to make money consistantly, if thats the case they are a great choice.

cheers

Lets take my paper trade as a example:

Ftse to finish up was 25-28.5 (yesterday)

I sold 25 at £5. to make a target or £100.
My risk was £375

2 questions:
1.now the spread is 0-2 so dose that mean I have made my £100 if I come out now?
2.If the market went up at +12 what would i expect the spread to be and when do i need to "stop sell" to risk £50?

Also with double up-down, I could have 2 accounts, bet one up at £100 bet the other down at £100. End of the day one will be right and i will be £100 in profit.??????

I had a look at puting a touch base at 6000.............your right, but my head is so buzzing with the previouse chats, that I'm not even going to ask about the risk/rewards.....

Thanks for everyone's input here so far.......!!!

Hoggums · Mar 14, 2007

ketank said:
Lets take my paper trade as a example:

Ftse to finish up was 25-28.5 (yesterday)

I sold 25 at £5. to make a target or £100.
My risk was £375

2 questions:
1.now the spread is 0-2 so dose that mean I have made my £100 if I come out now?
2.If the market went up at +12 what would i expect the spread to be and when do i need to "stop sell" to risk £50?

Also with double up-down, I could have 2 accounts, bet one up at £100 bet the other down at £100. End of the day one will be right and i will be £100 in profit.??????

I had a look at puting a touch base at 6000.............your right, but my head is so buzzing with the previouse chats, that I'm not even going to ask about the risk/rewards.....

Thanks for everyone's input here so far.......!!!

1. No - if you sell early then you buy at the price they are quoting - i.e. 2 - not 0. Also your maths is wrong if you sell £5 at 25 then you'll make £125 (5x25) profit if it expires at 0.
2. Double up/down - there is a spread applied - e.g. lets say the FTSE is at 6100 then double up you'll win if index is above 6110 and double down if it's below 6090. So - you place 2 bets costing you total of £200 (deducted immediately). If the FTSE is below 6090 then up bet wins nothing - down bet wins £200 - so you're break even. If above 6110 - you'll win £200 - i.e. break even. If FTSE finishes between 6090-6110 then you'll win nothing and your loss will be £200 (your total stake).

Not a very good strategy!

ketank · Mar 14, 2007

Oh yes my math was wrong.......

But yes I get the point now.

I have opened a vitual account let see what I do?

ketank · Mar 16, 2007

Have I got my calculations and understanding right now?

Target >£100
Limit loss £50

Eg ftse finish up 32 – 38 (buy)

100 - 38 = 62 (x stake, say £2) to make Max a profit of £124

Max Loss - £2 x 38 = 76

Now I want to only loss £50 so……….
50/£2 = 25………38-25=13

So the spread at a loss need to be 13-18 to make a £50 loss.

Eg2 ftse finish up 68 – 71 (sell)?

68x£2 =max profit of £136

100-68=32 x £2 =max loss of £64

To reduce loss to £50...
50/2=25………25+68=93

So the spread at loss needs to be 90-93 to make a £50 loss.????????

Blu-Ray · Mar 16, 2007

Yes, they are spot on

ketank · Mar 16, 2007

Brilliant….! thanks BlueRay

Next question, I need to open an account with someone, I already have one with Finspread (opened for SB) who do Binary’s, but there haven’t got a good rep so not keen on them, IG is the other contender but I’m worried about people on this forum saying that orders are delay or rejected etc… which leave me with Binarybets.com but I think there are part of IG, so any recommendation on brokers….?

Also like SB can out automate your trade in out of trade hours ( i.e. Limit opens, stops, and if done orders) in advance or do you manually need to place them in the trading hours?

K

Blu-Ray · Mar 16, 2007

ketank said:
Brilliant….! thanks BlueRay

Next question, I need to open an account with someone, I already have one with Finspread (opened for SB) who do Binary’s, but there haven’t got a good rep so not keen on them, IG is the other contender but I’m worried about people on this forum saying that orders are delay or rejected etc… which leave me with Binarybets.com but I think there are part of IG, so any recommendation on brokers….?

Also like SB can out automate your trade in out of trade hours ( i.e. Limit opens, stops, and if done orders) in advance or do you manually need to place them in the trading hours?

K

I would recommend binarybet.com, same company as IG, but you can bet from £1 per point, where IG is a minimum of £5 per point.

I've only had a couple of bets rejected about a year ago when I was starting out and scalping for 5 points a time - not good, too much stress.

Out of hours you can basically just buy at 52 and sell at 48, not much other options really.

Hope this helps

Blu-Ray

2be · Mar 16, 2007

Blu-Ray said:
I would recommend binarybet.com, same company as IG, but you can bet from £1 per point, where IG is a minimum of £5 per point.

I've only had a couple of bets rejected about a year ago when I was starting out and scalping for 5 points a time - not good, too much stress.

Out of hours you can basically just buy at 52 and sell at 48, not much other options really.

Hope this helps

Blu-Ray

Where can one get binary on the Lordships. Is it Whitehall, or the Westminster???

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