I'm looking to trade a simple binary on the FTSE on a daily basis but the costs are excessive - 100% of my stake if I lose (of course) but only 82% of it if I win. 18% of every profitable trade is too much for me, it eats up approximately half of my strategy's entire profit. Demo-account traded only so far BTW.
Can anyone suggest a way to replicate this binary trade - simply: FTSE up or down at the close, on a daily basis - without incurring more than say 10% costs?
Somebody elsewhere suggested options but not clear on the details or even if that's applicable here. Any advice welcome.
Can anyone suggest a way to replicate this binary trade - simply: FTSE up or down at the close, on a daily basis - without incurring more than say 10% costs?
Somebody elsewhere suggested options but not clear on the details or even if that's applicable here. Any advice welcome.
