Finspreads Binaries

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stevespray

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Is it me or have Finspreads increased their spreads on their Binary Bets again? I was away last week so didnt trade very much. I have found that they seem very reluctant to quote me prices and often give very short countdowns when they do actually quote. After having traded these well for the last few months I'm of the opinion that you are not only trading against the market / quote engine but also against dealing staff who clearly attempt to mitigate loss.

Steve.
 
stevespray said:
Is it me or have Finspreads increased their spreads on their Binary Bets again? I was away last week so didnt trade very much. I have found that they seem very reluctant to quote me prices and often give very short countdowns when they do actually quote. After having traded these well for the last few months I'm of the opinion that you are not only trading against the market / quote engine but also against dealing staff who clearly attempt to mitigate loss.

Steve.
Click to expand...

Yes, I think they have. It's probably in response to the increase in volatility of the FTSE. Last Friday, Finspreads were quoting 1--7 etc. Before that would have been, say, 1--3.5. Having said that, I would have thought they were wide enough anyway to cope. In response, I decided to look at Cantor. Their spreads are absolutely mind boggling - often 8+ points - I've seen quotes like 41--50!
 
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stevespray said:
Is it me or have Finspreads increased their spreads on their Binary Bets again? I was away last week so didnt trade very much. I have found that they seem very reluctant to quote me prices and often give very short countdowns when they do actually quote. After having traded these well for the last few months I'm of the opinion that you are not only trading against the market / quote engine but also against dealing staff who clearly attempt to mitigate loss.

Steve.
Click to expand...


Why not try betfair Steve?

I have looked & opened binary accounts with various people & conclude that Betfair is the best of them all.
 
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Hi there, I find this problem increases the higher my stake and themore I have in my trading account. For some reason on the hourlies, I find placing stakes £5-£20 a point take upto 2 minutes to give me a price, by which time of course the price moves. I use a system now where I increase my stakes as time progress so instred of buying 1 or 2 £5 bets I buy 5 or 10 £2 or £1 bets over the course of the hour, buying into a trend as price action confirms my technical analysis. Works an absolute treat.

I use this system that comes with its own software
http://cgi.ebay.co.uk/ws/eBayISAPI.dll?ViewItem&item=280011292573&rd=1&sspagename=STRK:MESE:IT&rd=1
 
I have been trading on finspreds for a while inparticular the binary bets, one of the account managers tell me that if the bet is greater than 10 pounds it needs to be authorised by a dealer, under a 10 if automatic. I have been stung many time by delayed prices. What methods are people using to trade binaries? I use TA but not having a great success at the momnet.
 
SD1 said:
I have been trading on finspreds for a while inparticular the binary bets, one of the account managers tell me that if the bet is greater than 10 pounds it needs to be authorised by a dealer, under a 10 if automatic. I have been stung many time by delayed prices. What methods are people using to trade binaries? I use TA but not having a great success at the momnet.
Click to expand...
Hello

You said you not having great success at the moment,I recommend doing the opisite of what you are currently doing. YOU WOULD MAKE MONEY THEN
 
Apparently my trading was "not economically viable" for them. Basically I made too much money from them!

Edit: As I posted this, the advert banner above was telling me that I can now trade longer....with Finspreads!!! :LOL: :LOL: :LOL:
 
laptop1 said:
Hello

You said you not having great success at the moment,I recommend doing the opisite of what you are currently doing. YOU WOULD MAKE MONEY THEN
Click to expand...

If someone was cutting their losses and running their profits but losing money, or perhaps they were using stops but losing money, would you advise them to do the opposite?
 
That seems a little unfair to stop you trading becuase you were making money, surely it should not effect finspreads because they are making on the spread regardless of whether the clients makes or losses money.
 
so visaria what was you winning formula, maybe you can help me get banned too;)
 
SD1 said:
That seems a little unfair to stop you trading becuase you were making money, surely it should not effect finspreads because they are making on the spread regardless of whether the clients makes or losses money.
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Not on binaries which they don't/can't hedge. So effectively clients' gains are their losses.
 
hey laptop1, I tried the reverse psychology trading for a while but you soon become confused as to what you really thought was going to happen to then reverse the trade...lol..... The best way I have found to make is too trade close to the expiry time, with 2 mins remaining and then go with the trend and the MACD/RSI. More time that not its correct, but then it depends onn what price you get in at.... I also look for when there has been a spike, to try and get a trade in under 5 points with more than 30 mins to go....this usually happens on the FTSE at 8:10am in the morning, if I get in I will take the first opportunity I am in profit....but recently greed has got the better of me and ultimately meant I have lost more trades...be interested to know what other methods people are using.....
 
SD1 said:
so visaria what was you winning formula, maybe you can help me get banned too;)
Click to expand...


Well, I'm thinking of writing a course for binary traders. I shall entitle it "How to be banned from binary betting" which will explain everything.

Finspreads could seriously regret what they've done!!!
 
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