Binaries and a newbie intro

[shadowninja]

Hi

My first post so I'll introduce myself. I'm Darren and I mess about on IG Index, mainly scalping binaries (FTSE and Wall St twenties, hourlies, five minute frenzies and gold and silver). Seems to work; I tend to win overall when I am disciplined with my losses! A typical day will see me gaining about 20 points. Any comments about this gratefully received.

Was reading other threads about being banned for winning. How much of this goes on? Does this mean it isn't possible to make long term income from the likes of IG Index? I have a target income of around £20k a year (will suit my lifestyle perfectly).

Cheers.

-Darren

 

[donaldduke]

Welcome to T2W Darren,

As i just posted yesterday they make £7 million a year in binary revenue.
20K a year is small fry. So the sharks at IG will probably ignore you (unless they think you are cheating: using a delayed internet feed etc).
If you start to make 20K a month, now thats a different matter...

DD

 

[shadowninja]

Thanks for the welcome and the info. I am pleased that I will remain unnoticed in a shadowninja-esque way. :cheesy:

I have no idea what a delayed internet feed is and I wouldn't cheat anyway as this would come under "fraud", surely?

 

[SirFrancis]

Hello Shadow

I've been knocking about here for some time now, years actually! I lurk I guess, rarely posting and looking for ten or twenty points per day. I generally get them and never have a bit of trouble with CS!

Good luck with your future trading.

PS - what was that about a delayed feed?

 

[shadowninja]

Cool. What method do you use?

 

[Lord Flasheart]

At 20k a year have no worries as long as you dont make it all in one day. You are most likely to mget barred from a binary comp or ladbrookes,spread comps generaly have no reason to bar you and often prefer it if you win

 

[shadowninja]

Why would they prefer it if you win?

 

[ceydababy]

Binaries Betting...

Some of the bigger players on here, have posted they have been shut down for cleaning up on Binary bets. Sums of £35k a month were talked about.

Not sure how they did it...but hats off...

Their accounts did get closed.

 

[shadowninja]

£35k a month... that is certainly impressive.

 

[Lord Flasheart]

Just to answer a question posted here. Some companies prefer you to win because they are making on every spread

E.G. lets say you trade £10 pp on gbp/usd with cmc they just simply hedge the bet so they cant lose and only win, why should they mind if you trade £100 pp and make £1000000 a yaer they probably make £100 if not more per trade. 5 trades a week x 52x 100 £25000 a year.Great biz for them

 

[shadowninja]

oic. Well, I would be happy with £20k anyway. Don't want to appear on their radar.

 

[lqislouis]

good idea

hey there im new too here, today is my first day.. hi to all.. as for me im actually worst thn anyone here, i dont evne know whats going on but im learnin it fast, so here as need more info on binary. when you guys say binary is that a website of binarybet.com? and whihc sites actually last long? i mean for a perm term long term,to profit 3k permonth will that be too much or just fine, and by the way what does like extrabet.com binarybet.com and what are the best sites besides this two, that they gain? only spread? and our profit is actually by the market itself?

 

[shadowninja]

IG Index do binary bets on many indices (daily, hourly, 5 minutes, 20 minutes), FX and commodities. Binarybet.com is owned by IG Index, in fact. I think the best thing to do is just watch how the binary moves with the index.

 

[lqislouis]

IG Index do binary bets on many indices (daily, hourly, 5 minutes, 20 minutes), FX and commodities. Binarybet.com is owned by IG Index, in fact. I think the best thing to do is just watch how the binary moves with the index.

so its mean, better to go for IGindex, cuz im actually better on FX so plus a binary on it, would be better rather thn FTSE right? i go thru IGindex they offer lots and many kind of ways, but binearybet.com only binary.... what are you currently bet on? with at least have your 20K annually?

 

[shadowninja]

I don't do binaries any more. I dislike the fact that you can't set stops. I used to have days of winnings and then one day when the market jumps and I'd lose the lot because of (1) lack of discipline (2) slow reactions. It's too dangerous in the current climate for me, I felt.

I just trade normal fx and it's very relaxing.