Binary betting - FTSE / Dow

There is a second or so delay between hitting the sell button and the order going through. I had a similar problem a few times. It is strange how the trade seems to go through at a worse price every time.
 
Adrianallen99 and Bigbusiness

I've never had any problems getting the price at which I want to sell. The only odd problems I've had relate to when I try to place a bet that will have the effect of counter-balancing my other bets and leave the certainty of a small profit rather than the possibility of a large gain (or loss) - i.e. betting that the index will finish up <100 (or down). Suddenly, I'm told that my bet can't be accepted, because I don't have enough money in my account, when the screen shows that I have adequate funds to cover the bet. Perhaps it's a glitch - perhaps an indication that the programme is set to remind the punters that they're on a gambling site, where risk reduction isn't playing the game, unless they are doing it.

Good luck
RIWF
 
Maybe it is my computer, the is no broadband where I live and internet dial-up connections can be slightly slower than somewhere less remote.

I have to admit it is causing a real problem.

I also tried to go long on the dow yesterday when it was at +55 pts. I just couldnt get the position filled, either errors or problems with my bet - had trouble getting through to dealing room. Price was at 71 before I got through so I didnt bother. Doh!!!
 
I have a fast connection and have had problems with them. Sometimes there are too many people using their online platform and it has slowed down and crashed in the past.
 
riwf:

have you had any joy, was expecting to see a post from you regarding your weeks work?

Wideboy
 
I have been looking at the 'packages' offered by IG - i.e the range of bets where 1 of them will win and the rest will lose.
The FTSE 30 point ranges and Dow 50 point ranges look interesting as there is only 4 possible outcomes - a 1 in 4 chance.

This all sounds very much like gambling speak but this is really what it boils down too. Minimise risk whilst maintaining the opportunity for reward. The prices for these remain fairly low until near to expiry so plenty of opportunity for a nice entry.

Why not just trade Up or down then you may ask? 50/50 chance on that package. True, but then the entry price for these are normally around the 80 mark, far too risky in my book.

A choice of 4 bets, with good low prices seem a good 'bet' so to speak. A fair chance of a good payoff with not such a high risk.

Wideboy (the gambler ;))
 
Wideboy.

Fairly good result last week - quadrupled my starting stake. Playing the markets - in any way - is a gamble, unless you know the outcome before you start, and no-one does. All I do is try to reduce the odds against losing. See adrianallen99's post: I would have placed the bet at 71 because the odds say there is a much better chance of winning at that price than at 55, and a win would have brought a return of 40%. If you are willing to accept small, steady returns, there is money to be made.

Good luck
 
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Hello all..

I've dabbled a bit in binaries and read this thread with interest.
Obviously different strategies being employed by people.

Placing a bet in say the 70's gives you better chance of winning because the odds are greater. but the problem is the risk reward...i.e you lose the 70 points if it goes against you. Although you would close early in that case, I suppose to limit losses.

Other option is to play the long odds and bank on a reversal, i've done this a few times recently on the DOW, where it has hit resistance at the 9750 and 9900 areas. E.g has gone up on start of day strongly, then come down at the end of the day, so placing a bet of say buying the 0-20 up range when the Dow is up over 50 would give you fairly good odds with low risk. The problem with this approach is that the opportunites are not that frequent.

Potentially you could hedge a normal spreadbet position with binary bet...but I haven't really investigated this so don't know if its feasible to make a profit out of it....

Any thoughts from you guys ??

Ta..
 
Have you guys come across this scenario ??

Was watching the Binary Bets thinking about putting on a position for FTSE 100 at 12pm tomorrow.
The prices suddenly changed and the FTSE was marked down by 15 points. So I placed a couple of bets on FTSE finishing > 30.
Then a few minutes later, the price had changed back again, putting my position immediately back in profit. So I closed.... :)

A few minutes later ...came a phone call from IG saying that they were going to cancel those trades because of loss of price feed and them giving out incorrect prices...It was only a profit of about £100 quid or so...but still...

Has anyone else come across this...and are they allowed to do it ?? Especially since I had opened and then closed a position ...

Ta...
 
jitasb,

This is the equivalent of the bookies "palpable error" and you have no recourse, other than withdrawing your business. I have looked at Binaries and you get the odd occasion when they are out of line, but not very often.

Didn't you know? Thou shalt not win! Written on the wall of every bookie in the world!

If you want to play fixed odds. Get along to the exchanges, such as Betfair. I'll see you there tomorrow. Look at the "Intraday FTSE" and I will gladly relieve you of some of your dosh mate!

All the best!


dbt
 
Okay chief....

So do you still trade binaries or not ???

Still reckon they could show some common sense....if I had placed an enormous trade (e.g . £100/point) and snagged profit of £5k ish...then fair enough I suppose....but for a measly £100 quid or so...must be a drop in ocean to them....

Not sure about betfair...you sound too clever for me....I could end up in the poor house :)
 
The interesting thing about binaries is that on IG or Betfair they are remarkably close to the actual probabilities. I've done lots of research on this and know the odds and markets inside out. What offen happens though is that the markets skew towards the current trend, whether or not the probability has changed so I tend to make money from nipping in at those points.

The thing that will kill you with this type of market is that around 0-5% of the time the market will move suddenly against you and you can lose a lot of money. So you have to know your payoff against reality or you will always lose in the long term.
 
Scripophilist

Can you be a little more specific or perhaps give a generalised example ?

Cheers,

The General. :LOL:
 
adrianallen99

I've tried one bet and won. Best time to try them is when the market is steaming high or low - go in around the half-hour and see how far they've moved since the top of the hour and decide whether it's likely that the market is going to come back in the time left. Trouble is, the odds offered mirror the probability very well - you'd have to lay out on seventy-eighty points to stand a chance of making a profit. I think they'll be very popular with the 'leisure' gamblers igindex are trying to attract, but they'll always be high risk,

Good luck
RIWF
 
If it is going to come back, placing the opposite way would be good. Price gets less than 10 pts just 30 mins in.
 
adrianallen99

That means there is only one chance in ten that its going to go from up to down, or from down to up, in the time left, and nine chances in ten that it wont. All things being equal, I'd go for the 9/10 - but the trouble with the hourly binaries is that anything can happen in thirty minutes, so you're right to be cautious about playing the high odds.

One strategy you could try is to buy when the lower price is below - say - fifteen with more than half the session to go. If a reversal starts, your price will start to rise (remembering that it will have dropped two or three points as soon as you bought so ig could take their cut). Once it's above your buying price, you're in profit. Set yourself a selling price before you start - say, twenty-five percent above what you paid - and stick to it come what may. Over time, you might make a steady profit. If, on the other hand, more often than not your price doesn't rise enough to give you a profit, consider biting the bullet and playing the high odds - at least you'll have evidence of their veracity.

Good luck.
 
mmm...given up with BB - i.e. getting out while im still ahead. To distracting from Trading. Although - have a betfair account for a bit of fun, can get some tasty odd on their!

Let me know if anyones interested in opening an a/c and you can get £20 if you deposit £20 and make 1 bet!
 
Not sure if this will help...haven't got time to read all the posts...

A digital (binary) can be replicated by buying a call at strike X1 and selling a call a X2, where X2>X1...the actual strike of the digital will be 0.5(X2-X1)...i.e this is a tight bull spread

The actual payout will be X2-X1 for S>X2 and 0 for S<X1
 
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