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ozzy

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Hi,

I am new to this forum, some really excellent and constructive postings here. Perhaps I could have some help/comments on the following..is anyone actively trading www.betonmarkets.co.uk(digital options) as an alternative or in addition to Spread Betting, and if so, could you offer some advice on strategies etc..
Although you are limited to a certain degree as to how much you can win, you can also control how much you may loose. Any thoughts?

ozzy
 
Hi Ozzy.

I tried these when they sprung up. Although they are based on options trading, they are worse then any sb company I have used and play the price/time decay to their advantage.
You may not even get back your expected price on a trade because of it.

They are after all, another bookmaker using a slightly different slant to spreading who weight the odds in their favour.

Also, and I don't know if it's still the case, they were registered in somewhere like Greece or Malta, so are not even governed by our pathetic FSA people. So I would feel uneasy about having large sums of money with them

Having said that. I liked them (the idea) to start with. It was only in use that the shortcomings of trading with them showed up.

Though it is a cheap way to test your options trading skills.

All the best.

Options.
 
Hi Options,

Thanks for your comments, I take it that you think they(BOM) may be a bit 'dodgy'? Would you suggest that plain option trading would be more safer and potentially profitable?
I take it from your name you are trading options, I am considering it, but I am very much a fledgling in this game. I have just started reading 'Options Plain & Simple', by Lenny Jordan (a bit complicated!), but I understand trading US options as opposed to UK/European is completely different, ie you cannot exercise UK options early, but you can with US.
Could you or anyone else give me a bit of guidance please as I quite fancy going down this road.

Thanks

Ozzy
 
I would't say 'dodgy' so much. Just that if they go bust you have no safeguards. So you can wave your money bye bye. As I said this was the case, though I don't know if anything has changed.

On the contrary. Complex options trading can be more 'safer' and profitable if you know what you are doing.

You don't say what other trading experiance you have. But what attracts people to option trading is the leverage.

I always prefer to keep things as simple as possible. So would buy calls for a market/share rise and puts for a drop of course. Then it's a natural progression and a possible need to work the trade. ie two calls with one put etc etc. After that stage it gets more complex.

The only problem with making x amount more, is that you can also lose x amount more. True you know what the maximum loss can be. But any loss is still a loss. If your max loss on a trade is £1000. It will still hurt to lose £700 if you cut the trade because of a wrong choice of direction

If you haven't traded before, I would advise against starting with options without first trying your hand at share trading. If you can't make money from shares, then your loss will be compounded from trying options.

And it used to be the case that if you didn't have a couple of years trading shares. No broker would touch you with an options account.

Look around the Liffe site. Have a look at stock futures etc. And there was a good options link developing on this site. Try a search of the boards.

And yes, I used to trade options, but I choose my 'nick' not for that reason but because I have a choice whenever I trade.
I no longer trade options. But that is all down to my data provider, which at the time was 'Updata'.
The price on my screen was different to the price my broker had in front of him. And this occured with 2 different brokers. Sometimes by as much as 50 points. And being £500 off the mark is no way to trade.

I now really only trade futures, as it suits me better. Has tighter spreads and moves quicker, where I can be in and out with one price bar move if I want.

Good luck with your trading

Options.
 
hello
BOM is in my opinion very good...
they are registered in Malta but they are owned by the Iregent group. which at least gives them more security.
trading (betting) with BOM is a good way to start and you can make quite a bit of money. the max. account size is £25,000 however if you contact them they will sometimes extend the limit.
However it is quite easy to lose 100% of the investment you either win or you dont.

Hope that helps
 
Coupla thoughts -- I do two-three bets a week. Foots above/under level, dollar/euro levels stuff like that. So far so good. You can always sell the bet back if it goes bad saving 'bout 75 percent of stake. Don't like them refering to "win £xxxx" when you DRAW £xxx having but 40-60 pct of the draw as your stake. Dunno why they don't make that clearer.
 
I've started doing intra-day double up/down trades on the indices(predicting the movement each hour) with a some success, small stakes involved so not a big risk. I find the first hour of market opening is a good time to trade.
Also tried a few "No Touch/One Touch" trades but you would need to research a bit on average daily/weekly movements of the indices to "get it right".
Anyone else got a strategy with BOM ?

Ozzy
 
ozzy and tullibody what kind of accuracy are you achieving?

i average about 60-70% on indices double up/down
 
Jules

I am probably at about 60%. I try to be up every day, even if it's not a large amount at least I am not loosing. The only thing is I pushed the wrong button this week(and believe me it's easy to do) and was wrong on my prediction and instead of loosing a fiver, I lost £255!! It's early days yet so time will tell . I'll keep you posted.

Cheers

Ozzy
 
Belated reply to julesrules with apols. i've had nine bets and scratched one; five outright winners and three currently in profit with day/coupla days to go. all but one (a winner) pretty low risk issues.
 
if you wish to make more money on BOM with a higher risk, then Double and intraday bets are the way forward.

However they are exceptionally high risk
 
BOM, Trading Strategies et al

Ozzy,

I have been using BOM for close to 2 years now, and although wouldnt trust them with huge sums of money, have no reason to believe they are shady.


I used t successfully trade daily options on the FTSE, or expiry bets - as the FTSE is not the most volatile of indices that was easy-ish to pick for someone with some experience and proper data feeds.

However, I was disappointed when they withdrew the facility (was it cause I was milking them? Hmmm) and when probed, they responded they were sorting out some data feed issues. They allegedly need 6 months - yet they mangaed to introduce some new very short term bets indicating no problem with feeds...
Therefore I think they are trying to get us to use their other bets instead. I have found Intraday Bets not as successful as Double Ups, but that all depends.


In terms of trading strategy, I use BOM to hedge, as follows (assume FTSE as example):

i) Buy an index option (call) i.e. FTSE Sep 03 @3500

ii) At the same time take an expiry bet against the movement of your option say that FTSE will be 3400-3550 in 10 days time.

iii) If within 10 days your warrant hasnt brought you any money, BOM will have bet a nice return - esp as their expiry bets serve better odds than the abovo or below.

You can keep doing this till September... and the same can be applied on FX trading.

As for BOM, will keep pushing till they reinstate their same day expiry bets!

s33
 
Hi Smiley33

Thanks for that info, I have given up on intraday bets, not very successful, in fact I have taken a rest for the time being as I don't want to blow all my capital. So I am looking for another method with very small risk so I can gradually build up again. Any suggestions?

Cheers

Ozzy
 
Low Risk

Ozzy,

for low risk - and low return, I use Blue Sq (still back my moves with BOM some times on the FTSE).

They offer daily the ability to go for a 'up or down' bet, which again, if you have done your homework, and dont get caught out by sudden market malaise, can give something daily in terms of profits however, as with anything, there is no 'get rich quick plan'


Odds arent great, yet if you consider anything like 25%-58% in profit , and translate this as return on capital, to be honest havent found many investements that can yield 25% daily!

Hope this makes sense!

Just remember, only trade with money you can afford to loose...

All the best for a profitable week ahead :rolleyes:

s33
 
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