can you trade Binaries / Fixed Odds for a full time living: disscussion

This is a discussion on can you trade Binaries / Fixed Odds for a full time living: disscussion within the Fixed Odds & Binary Betting forums, part of the Markets category; Hi, Does anyone here trade binaries / fixed odds products full time for a living. And are they making decent ...

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Old Jun 17, 2010, 2:37pm   #1
Joined Apr 2008
can you trade Binaries / Fixed Odds for a full time living: disscussion

Hi,

Does anyone here trade binaries / fixed odds products full time for a living. And are they making decent money from them. I used to trade futures at a prop firm, recently I have had to get into a more stable role at a fund managers due to having children, however I like the idea of using betonmarkets / ig ladders on a part time basis, maybe in the future on a more permant basis. I like the fact that you have fixed liabilty and you wont be stoped out only to see the market go in your favour. Obvioulsy most of us have had that experience v.frustrating. Using these products obviously allow you to stay in the market.

Trying to start a thread on this subject and would like people opinons, trading techniques, i.e do they scalp and trade many times a day looking for small profits or do people trade them a few times a day / week looking for larger profits.

It may be the case people feel these products cant be used as full time income stream. So comments please.
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Old Jun 17, 2010, 4:29pm   #2
 
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Re: can you trade Binaries / Fixed Odds for a full time living: disscussion

you can make enough to live on, however like most forms of trading its not a steady income stream.. you cant make money every month.. you will have losing months and long periods when you dont really want to be betting due to market conditions being out of synch with your preffered style.

there will also be the issue of being dependant on the binary bet firms for a living.. some have closed down in the past or just stopped offering binaries.
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Old Jun 17, 2010, 4:42pm   #3
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Re: can you trade Binaries / Fixed Odds for a full time living: disscussion

clbfjc started this thread I belive reading an FT article this week that IG and Betonmarkets are going to increase exposure to the binary markets but other than these two players I do not belive there are other companies in the area..

http://www.ft.com/cms/s/0/2cb03578-7...44feabdc0.html,

This said I am sure you can make a decent amount of money using binaries either full time or part time.
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Old Jun 17, 2010, 4:45pm   #4
D70
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Re: can you trade Binaries / Fixed Odds for a full time living: disscussion

1. Spreads are too large for scalping.
2. Make sure you build your option pricing model.
3. Pay close attention to vol and be on the right side of it (especially with regards to pricing).

Good luck.
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Old Jun 17, 2010, 10:42pm   #5
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Re: can you trade Binaries / Fixed Odds for a full time living: disscussion

In all honesty I'd look at other products. as D70 says, spread will kill you in the long run. I'd be reluctant to limit myself to binaries if it was my livelihood.
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Old Jun 17, 2010, 10:48pm   #6
 
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Re: can you trade Binaries / Fixed Odds for a full time living: disscussion

The dependency on IG Index for my particular style of binary trading got me looking into "proper" trading.
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Old Jun 18, 2010, 11:13am   #7
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Re: can you trade Binaries / Fixed Odds for a full time living: disscussion

clbfjc started this thread How about, if trading over a longer term timeframe, ie a week or a month...
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Old Jun 18, 2010, 11:21am   #8
 
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"How about, if trading over a longer term timeframe, ie a week or a month..."

do u know about a single longterm trend of a financial instrument wo any huge pullback and snapback ?
Gold i.e. snaped back severall times by 15%...20%. would u hold your long position if gold is snaping back 10% within a week?
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Old Jul 19, 2010, 1:34pm   #9
 
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Re: can you trade Binaries / Fixed Odds for a full time living: disscussion

I think binaries are perhaps one of the best ways to trade for a living, IF it is used to manage risk correctly.

I don't use binaries to trade on pullbacks etc as they are too unpredictable and leave you pretty open.

The beauty of the instrument is the predictability of it. I based my basic strategy on the premise that 'if the binary is >80 in mid afternoon it isnt all that likely to reverse'. It has been refined a lot from that point over the last 6 months.
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Old Jul 31, 2010, 2:33am   #10
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Re: can you trade Binaries / Fixed Odds for a full time living: disscussion

Quote:
Originally Posted by clbfjc View Post
Hi,

Does anyone here trade binaries / fixed odds products full time for a living. And are they making decent money from them. I used to trade futures at a prop firm, recently I have had to get into a more stable role at a fund managers due to having children, however I like the idea of using betonmarkets / ig ladders on a part time basis, maybe in the future on a more permant basis. I like the fact that you have fixed liabilty and you wont be stoped out only to see the market go in your favour. Obvioulsy most of us have had that experience v.frustrating. Using these products obviously allow you to stay in the market.

Trying to start a thread on this subject and would like people opinons, trading techniques, i.e do they scalp and trade many times a day looking for small profits or do people trade them a few times a day / week looking for larger profits.

It may be the case people feel these products cant be used as full time income stream. So comments please.
I have just taken the plunge and gone full-time trading binaries after recording 23 profitable months trading out of the last 24.
I like binaries because one's maximum potential profit and loss is known at the time the bet is placed. I specialise in the 5 minute FTSE100 binaries and place many bets each day.
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