Binary Bets

This is a discussion on Binary Bets within the Fixed Odds forums, part of the Commercial category; Anyone else still trading these markets? I've been looking at both IG and Spreadex prices and there are often such ...

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Old Jan 19, 2004, 3:59pm   #1
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Joined Jan 2004
Binary Bets

Anyone else still trading these markets?

I've been looking at both IG and Spreadex prices and there are often such reasonable differences that you can trade at a spot rate which makes it much easier to make money.

Has anyone else noticed this?
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Old Jan 19, 2004, 4:49pm   #2
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Joined Nov 2001
I got this list from the "Search" function on this site.

Should keep you busy for a while.

Hope this helps.

....Indicators show the past. Price Action "Indicates" the future.
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Old Jan 24, 2004, 4:27pm   #3
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Joined Sep 2003
Binary bets are quite exciting but the prices can move so damn fast! Definitely not for the weak hearted. I've also noticed the spreads widening at times to almost 10 or 11 points. Might be a tad risky for most people. I've had some good and bad experiences with it.
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Old Feb 3, 2004, 10:50am   #4
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Joined Oct 2001
lakers, there was a couple of discussions a while back:

BTW, yes I do still trade the binaries.
Any views expressed are purely my opinion and and not a recommendation to trade
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Old Feb 28, 2004, 10:10am   #5
Joined Nov 2003
I'm still trading binaries, so far very successfully - £25k this month. IG Index and its subsidiary BinaryBets have started daily One-Touch bets on the FTSE and Dow Jones, where your bet is settled at 100 if, during the course of the day, the index touches your selected level, ie up or down 10, 20, 30 and so on, on the FTSE, and up or down 20, 40, 60 and so on, on the Dow. These might be worth trying once some volatility comes back into the indices - at the moment, with the markets moving sideways, the money is in predicting the boundary ranges, particularly the weekly Dow.

My question is this: I've been browsing around the boards and there seems some concern - and belief - that IG Index will remove trading rights once you are seen as a consistent winner: is there any truth in this? At what level of betting, and winning, do they take an interest? I know that they say they love winners, but when all is said and done they are just bookies, who have the right to refuse a bet. But is it likely that they could ban someone who seems to be doing too well, too often? At the moment, I'm only betting £10 or £20 per point and still clearing £1k a day - is this likely to give them worries? Would they be very concerned if I upped my bets to £50 or £100 per point, and still won more often than I lost? Or would they, like most bookies, take the view that in the long run even the best winner becomes a loser.

Anyone any experience, or knowledge, of this?
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Old Feb 28, 2004, 2:28pm   #6
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Joined Jan 2004

They wont stop you trading or ban you.

But are they delaying your orders yet?

In the beggining you get instant fills but after a while
your fills might start taking over a minute to execute.
If the market moves alot during this time they are holding
your order (alot depends on the market you are trading) then
your order risks being refused.

This might be a problem if you want to get out of position fast,
u wont be able too.. And you will have to resubmit your order
and the market could have moved 20 points by time that one
gets filled! From my knowledge or binaries i believe they
can move really fast!!

I think they are within their rights to do this and after all they
have to make a profit too.

If they are already doing this and you are still making that much
money then well done!!

25K a month hey, thats 300K a year tax free!!

If you are making that much then there must be a lot of losers
doing binaries for it to be worthwhile for IG..

Last edited by donaldduke; Feb 28, 2004 at 3:17pm.
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Old Feb 28, 2004, 5:17pm   #7
Joined Nov 2003

Thanks for the response. Glad to hear that IG won't ban me. The Group made £9m profit in 2002 (last company accounts) so I don't suppose my winnings amount to as much as a flea-bite. And there's always the possibility that I'll lose everything I've made.

I only trade the FTSE and Dow Jones indices. I haven't noticed any undue delay yet.
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Old Feb 28, 2004, 7:01pm   #8
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Joined Jan 2004

Why do you only say 'flea-bite'?

If you are making over 1K a day consistently then you will be making
over 250K a year. Note that because you are making small
consistent bets we can optimistically project your annual
winnings. If you had made 25K with three or four big lucky wins
we couldnt say that.

250K+ is almost 3% of IGs annual profits? This is by no
means a 'flea-bite'! Especially if Binaries are unhedged
instruments (anyone know one way or the other for sure?)

So if you increased your betsize from 10-20 to the maximum
100 pounds a point, you could in theory be making between
1 to 3 million a year!! However this will be harder to do as
im pretty sure you wont get the same quality of fills when
trading such size.

Last edited by donaldduke; Feb 28, 2004 at 7:25pm.
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