Any one tried bet on markets?

[compare bets]

As any one had a go on their website.

I've had a go with limited sucess. No touch bets seem to be good. i found these work well....when the market gets to a yearly high and is over sold. Just as it breaks down through key resistance level i place my trade.

Does anyone have any ideas of other methods techniques?

Cheers

Will

 

[Lord Flasheart]

There are other threads on this. It looks great to me and Id love to have an account but they are new and that is the only thing stopping me.The slide rule is excellent and I hope they stay around.

 

[Jon41]

Am I missing something? I thought Bet on Markets had been around for ages? The design on their website certianly looks like something from the 90s. :cheesy:

 

[tornhill]

beton

i think julian mixed it up with betsfortraders.com who have the sliders, betonmarkets.com is indeed old and looks even older. i started my trading there a few years ago, its ok for learning, but i think you get much better value in the real markets.

 

[Lord Flasheart]

apologies, I was refering to betsfortraders

 

[Baldwreck]

As any one had a go on their website.

I've had a go with limited sucess. No touch bets seem to be good. i found these work well....when the market gets to a yearly high and is over sold. Just as it breaks down through key resistance level i place my trade.

Does anyone have any ideas of other methods techniques?

Cheers

Will

Will (compare bets)
Assuming you mean Betonmarkets - then yes I've been betting with them since mid 2003 mostly bull/bear bets - developed a system for them which I've written about elsewhere on the forums. Not sure I understand your comments ... do you mean over bought rather than over sold? Also curious to know what your website is and what it compares?

 

[Lord Flasheart]

Baldwreck. Have you made much money and have there been any problems. Surely betsfortraders is a better site with the sliderule. I just dont trust new companies.The problem I have with bom is that you have to bet in advance and a lot can happen in 2 mins

 

[Baldwreck]

Baldwreck. Have you made much money and have there been any problems. Surely betsfortraders is a better site with the sliderule. I just dont trust new companies.The problem I have with bom is that you have to bet in advance and a lot can happen in 2 mins

Julian - Well I am not sure what the definition of "much" is! Here are the stats.

2003 -1%
2004 +8%
2005 +57%
2006 +59%
2007 +33% to date. (including an absolute caning during the summer months )

So in cash terms the answer to your question is a few grand.
I have had no material problems with BOM bar a few minor hiccups - did get irritated with them when they moved the minimum period on the bull/bear bets to 3 weeks or so but they changed this back quite quickly.

The bull/bear bets are instantaneous in my experience so not sure which bets your two minute wait refers to?

Had a look at BetsforTraders - found that their comparable bets with BOM are more expensive - also I can't quite replicate the bets I place on BOM which all are based on end of day pricing.

 

[Lord Flasheart]

thats great. I like the fact u recovered after a canning thats a great sign. Bom look great in you dont want to bet straigh away. Would u feel safe putting your money with BFT ?

 

[Baldwreck]

thats great. I like the fact u recovered after a canning thats a great sign. Bom look great in you dont want to bet straigh away. Would u feel safe putting your money with BFT ?

Julian - I don't see why not (although I know nothing about the company structure or ownership) - my approach is that all money deposited is at risk.
Still not sure I understand you comment about BOM and not being able to bet straight away?

 

[Lord Flasheart]

I mean that u cant bet on the market being uo say 20 mins from now. You have to bet that it will be higher at 9.00 than at 8.40 is that correct

 

[Baldwreck]

I mean that u cant bet on the market being uo say 20 mins from now. You have to bet that it will be higher at 9.00 than at 8.40 is that correct

Julian I think BOM have introduced (for virtual accounts only for the moment) something called a "flash bet" which enables you to bet on the direction of the market for a time frame of between 2 and 20 minutes, instantly. They don't always seem to be available and I guess they are trialing their popularity/success on virtual accounts to see if its worth doing them for real. I guess if you interested you should contact their customer support to see what the form is.

 

[Lord Flasheart]

thats my perfect trading tool, the only problem is they only do it on currencies.I asked if they are going to introduce it for dutures and they said it will be posted on the site if that happens

 

[Baldwreck]

thats my perfect trading tool, the only problem is they only do it on currencies.I asked if they are going to introduce it for dutures and they said it will be posted on the site if that happens

Well much to my surprise I was able to place one of these flash bets with real money - so I took a 2 minute £1 bet on the EUR/USD pair and guess what - I lost - it ended up at the same tick - Ha ha!! (very uncharacteristic of me to gamble like this).

 

[compare bets]

Hello Baldwreck,

Indeed I did mean over bought. Using RSI as an indicator.

I've followed a method where I target a 4% ish return on each trade. Using no touch bets when the market is over bought / sold in the hope that these extreme levels will not be touched within the time frame.

I'd be interested to hear more about your methods?

I decided to do a website because I wanted to learn HTML and when I was looking for a spread betting account I found comparing providers time consuming because there was little information freely available.

Will

 

[tar]

What u think Guys of the RUN BETS up down on the pound/yen anyone try it in bet on markets ?

 

[Baldwreck]

What u think Guys of the RUN BETS up down on the pound/yen anyone try it in bet on markets ?

tar - if you like gambling then I'm sure they are fun - but in the long run you are bound to lose monry

Hello Baldwreck,

I'd be interested to hear more about your method

Will

Will - hi there - I've written about this elsewhere - but in summary I bet on all 7 indices (and more recently) on 7 currency pairs using a mechanical system I developed specifically for BOM which gives bull or bear signals based on the previous day's close. Bets are held for 10 working days. As important, is the money mangement sytem I use which is based on Kelly theory. The whole lot was back-tested extensively. Based on both the back-testing and real time I need to win 56.5% of my bets in order to breakeven allowing for BOM's spread/commission. Currently the success rate over more than 4 years of real trading (betting) during which time I have placed over 1,700 bets on BOM has been about 61% and this has resulted in an IRR of approx 56% over that time period.

Is your website live?

 

[compare bets]

Hi Baldwreck.

I didn't think mechanical systems worked over the long term...but yours seems to be sucessful. Does it work the same accross these indices and currency pair you mention?

I will certainly try an find where else you have written about this it sounds good - do you have any followers trying to emulate your secess?

The website is live.

Ta

 

[Baldwreck]

Hi Baldwreck.

I didn't think mechanical systems worked over the long term...but yours seems to be sucessful. Does it work the same accross these indices and currency pair you mention?

You may be right - but Iv'e back tested the system to the early 1980's on the Dow Nasdaq and S&P 500 - from inception of FTSE in 1984 and from the early 90's on the rest of the Europeans and on 7 Forex pairs since 2000/2001. It seems to work consistently well on indices and forex in back testing. In real time it doesn't produce quite the results anticipated but there is sufficent performance to say it is reasonably robust. However I am constantly tweaking the parameters to keep the system fresh.

I don't know of reports of any trader whose judgment on the markets is so intuitive as to be able to produce consistent profits without relying on some mechanical indicators. The whole "turtles" experiment was based on an entirely mechanical system which was "guaranteed" to work if only the people following the system could actually do what they were instructed to do. As it turned out few could.

 

[tar]

tar - if you like gambling then I'm sure they are fun - but in the long run you are bound to lose monry

what if u make an edge for yourself lets say 60% winings ?