shadowninja
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None of the British-based ones. IG Index, Betfair and Choice Odds don't allow this. IG Index is slightly better because if you made a big mistake you can manually bail out. The others leave you locked in until the bitter end.
If you count fixed odds as binaries then you can set SL and TP (and triggers) on bull/bear bets at betonmarkets. Not sure why you would want to do this though?
i do apprecite that info alot, but as i go thru choiceodds.com on floating binaries, they allow you to close your bet whenver you want, if you think its profit enough you can close, if you think your losing you can cloe that bet too,ONLY floating binaries allow to do so.. others fixed odds,floating odds and fixed binaries dont allow you to do so, becuae i was planin to bet on daily, instead of 5min and hourly, so in daily there wil be up and down, so i'll bet on buy and sell.. and tp for 10p... what you think? or what are the best idea to bet on floating binaries?
fixed odds is that a binaries bet? i thought its just a bet where you with your bet or you just lose you bet nothing more, but fixed and floating binaries thn are the one that bottom is 0 and top its 100, so 0-100,, either close up or close down... so if fixed odds were just to lose your bet stake thn why is there a SL and TP? i eman im not correct but just to clear this out, cuz thats was my understandin on betin FX, and by the way me unable to get into betonmarkets cuz its only for US state....
To the first part of your question - that depends on the company offering the service - some fixed odds companies allow you to sell certain types of bet back to them before they expire so they have the same characterisitics as a binary bet.
I understand you are based in Qatar - I do not know if you can open an account with Betonmarkets but its definitiely not restricited to the US if anything the opposite.
Hope that helps
shadowninja
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Sorry for the mis-information. I only looked at them briefly and it looked like once you were in, then you had to ride the storm, which is why I stuck to IG.
BinarySoft Chris
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I can't see any of the financial bookmakers ever offering SL or TP (a.k.a. Limit-if-Touched / LiT) orders - it would be way too easy for them to manipulate these in their favour. They would also be well within their rights to do so as binary betting is not FSA regulated in the UK.
The only viable way to support these types of orders is via a betting exchange - for the Betfair users out there then you may wish to note that BDI v2.1 (the binary-betting interface to Betfair) is due for release in November and will feature a very slick implementation of Stop Loss orders. BDI v2.2 will also feature LiT orders...
The only viable way to support these types of orders is via a betting exchange - for the Betfair users out there then you may wish to note that BDI v2.1 (the binary-betting interface to Betfair) is due for release in November and will feature a very slick implementation of Stop Loss orders. BDI v2.2 will also feature LiT orders...
you said "which is why you tuck to IG" , can i know which is why what? as in? IG im urgently need to find best sites to open an account , help me out ninja...
Perhaps we're talking at cross purposes here but Betonmarkets do offer a "take profit" facility (through "orders") whereby you can choose the price at which you want to exit (assuming it gets there). Although you're right to be sceptical, given the volume of bets going through these organisations I really wonder whether they have the resource to monitor bets in the way you suggest?
thanks chris, but ermm can you treat me like learnin ABC worst thn a baby, cuz i know nothing compare to FC on normal trade, i do trading for FX in normal broker, but in binaries bet is noather 2 different topic from what im doing.. well if were to know about FX market and everything that im pretty much clear, only i have to have a better understanding on binaries bet, when you said something will release in nov with feature very slick of SL, what does that whole thing mean,i dont quite understand all those short form wording actually.. sorry chris, but i do appreciate if you can further explain here, you mena some sites on nov with be better feature compare to others site?
but the problem betonmarkets.com i unable to access to that website, its says "This website is not being made available in [Qatar] [60.52.68.62] [loggedout]." thats what they said, so i have no hope on that company, maybe i should try on other company.. oh well back the that topic we were tlaking about the close position "sell" back , choiceodds.com says..
Close a Floating Binary bet
Closing out is when you end an open bet before it would normally expire by taking the equal and opposite side. You would do this to take an early profit or to cut a loss.
For example: We may offer a price of 32-35 for "the FTSE to finish up at the end of the day". You think the FTSE will rise, so you Buy at 35 for £10 a point.
Later in the day, the FTSE has risen and we are now offering a price of 80-83. To close this bet out and take an early profit you would Sell at 80 points for the same stake ie £10 a point. Your profit on the bet would be (80 - 35) x £10 = £450.
Please note that you can also partially close your floating binary bet. A partial close is when you take the equal and opposite side of the bet - but not for the full amount originally staked. You could do this to lock in an early profit or to cut a loss.
For example if you currently have a £5 per point "buy" in the FTSE, to partially close it you could "sell" £3 per point in the exact same bet.
Importantly, you cannot partially close fixed odds or fixed binary bets as there is no "sell" side. Only floating binary bets can be partially closed out.
thats from choiceodds.com .... so it can be done no doubt..
shadowninja
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I am not saying IG Index is the best site!
When I did FTSE binaries, I was able to close a position at any time if I realised the market was going the wrong way. I investigated Choiceodds and Betfair and as far as I could tell, for binaries, I couldn't bail out whenever I wanted.
Useful info: from IG Index's site: Authorised and regulated by the Financial Services Authority. Excludes Binary Bets. FSA Register number 114059. In respect of Fixed Odds Bets and Binary Bets IG Index plc is licensed and regulated by the Gambling Commission.
thanks man. in IG index min stake its $10, hahaha i would have lost everything in one day maybe even less than a day...haha kidding.. well im new so i think i'll go for choiceodds.com so i can stake min $0.10 on binaries bet... jejejej....
shadowninja
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You can sign up for their newbie Tradesense programme and place bets from 10p/pt on Binaries.
Anyway, I don't wanna keep going on about IG. People will think I am affiliated to them.
Anyway, I don't wanna keep going on about IG. People will think I am affiliated to them.
BinarySoft Chris
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Yeah the Betonmarkets implementation does exist, but they only offer bets for events in the future, and as such don't really have a mechanism of biasing the prices in their favour - i.e. either the instrument reaches a certain level/situation or it doesn't. I was referring mainly to the financial bookmakers which provide live tradeable bid/ask quotes for binary bets - IG, CityIndex, Cantor Alphabet, Ladbrokes, etc.
BinarySoft Chris
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Most of the financial bookmakers have decent introductions to binary bets easily accessible via their homepages. I've also written an introduction to binary bets here which may help:
http://www.binarysoft.co.uk/bdi/introduction-binary-prices.php
An "SL" means a "Stop Loss" order which can be used to limit your loss when a trade goes against you. It basically involves choosing a price level, which if breached then the software will trade out your current position in a manner of your choosing - I'll have a proper section on how this feature works when BDI v2.1 is released and the online support documentation is updated 🙂
hahaha no not aproblem i dont think your affiliate to it... well anyway choiceodds.com user are more friendly, if i were to compare with IG plus whats more hchoiceodds.com mix stake its 10pence too... jejejeje... i think i'll try for choice odds and see how it goes.. no hump trying out since im new./.so have to learn from mistake...
thanks.. i;ll look at it... will read them and try to get it.. thn will let ya know...
thanks.. i;ll look at it... will read them and try to get it.. thn will let ya know in a bit...
