Binary betting - FTSE / Dow

riwf:

have you had any joy, was expecting to see a post from you regarding your weeks work?

Wideboy

I have been looking at the 'packages' offered by IG - i.e the range of bets where 1 of them will win and the rest will lose.
The FTSE 30 point ranges and Dow 50 point ranges look interesting as there is only 4 possible outcomes - a 1 in 4 chance.

This all sounds very much like gambling speak but this is really what it boils down too. Minimise risk whilst maintaining the opportunity for reward. The prices for these remain fairly low until near to expiry so plenty of opportunity for a nice entry.

Why not just trade Up or down then you may ask? 50/50 chance on that package. True, but then the entry price for these are normally around the 80 mark, far too risky in my book.

A choice of 4 bets, with good low prices seem a good 'bet' so to speak. A fair chance of a good payoff with not such a high risk.

Wideboy (the gambler )

Wideboy.

Fairly good result last week - quadrupled my starting stake. Playing the markets - in any way - is a gamble, unless you know the outcome before you start, and no-one does. All I do is try to reduce the odds against losing. See adrianallen99's post: I would have placed the bet at 71 because the odds say there is a much better chance of winning at that price than at 55, and a win would have brought a return of 40%. If you are willing to accept small, steady returns, there is money to be made.

Good luck

Hello all..

I've dabbled a bit in binaries and read this thread with interest.
Obviously different strategies being employed by people.

Placing a bet in say the 70's gives you better chance of winning because the odds are greater. but the problem is the risk reward...i.e you lose the 70 points if it goes against you. Although you would close early in that case, I suppose to limit losses.

Other option is to play the long odds and bank on a reversal, i've done this a few times recently on the DOW, where it has hit resistance at the 9750 and 9900 areas. E.g has gone up on start of day strongly, then come down at the end of the day, so placing a bet of say buying the 0-20 up range when the Dow is up over 50 would give you fairly good odds with low risk. The problem with this approach is that the opportunites are not that frequent.

Potentially you could hedge a normal spreadbet position with binary bet...but I haven't really investigated this so don't know if its feasible to make a profit out of it....

Any thoughts from you guys ??

Ta..

Have you guys come across this scenario ??

Was watching the Binary Bets thinking about putting on a position for FTSE 100 at 12pm tomorrow.
The prices suddenly changed and the FTSE was marked down by 15 points. So I placed a couple of bets on FTSE finishing > 30.
Then a few minutes later, the price had changed back again, putting my position immediately back in profit. So I closed.... :-)

A few minutes later ...came a phone call from IG saying that they were going to cancel those trades because of loss of price feed and them giving out incorrect prices...It was only a profit of about £100 quid or so...but still...

Has anyone else come across this...and are they allowed to do it ?? Especially since I had opened and then closed a position ...

Ta...

jitasb,

This is the equivalent of the bookies "palpable error" and you have no recourse, other than withdrawing your business. I have looked at Binaries and you get the odd occasion when they are out of line, but not very often.

Didn't you know? Thou shalt not win! Written on the wall of every bookie in the world!

If you want to play fixed odds. Get along to the exchanges, such as Betfair. I'll see you there tomorrow. Look at the "Intraday FTSE" and I will gladly relieve you of some of your dosh mate!

All the best!


dbt

Okay chief....

So do you still trade binaries or not ???

Still reckon they could show some common sense....if I had placed an enormous trade (e.g . £100/point) and snagged profit of £5k ish...then fair enough I suppose....but for a measly £100 quid or so...must be a drop in ocean to them....

Not sure about betfair...you sound too clever for me....I could end up in the poor house :-)

If I can't get an edge I don't trade.

I don't trade binaries!

dbt