boudary bet question- one touch bet on betonmarkets.co.uk

[kamy]

I know this is probably the most newbieest question asked in this forum, but can some one clarify what this is???

the explanation on betonmarkets is -

"This is a One Touch bet. You could purchase this bet if you believe that the market will touch a given barrier price (at least once!) before the expiry date of the bet."

so say for eg the gbp/usd value is at (at the time of me writing this) 1.8384 and if at any time within the next 7 days i expect the value to rise and go past 2.000 (i know this may not happen) i put a bet on to win £10 if it does and the price of the bet is say £5.....

.....Just say 7 days passed and the value did not go above 2.000 but declined to 1.8370 will i lose my £5 stake only? or will i lose more than that?

any help would be appreciated, tottally new to this. thanks

 

[£10kLoser]

You only lose your £5.00

Just to clarify, the price does not need to rise 'and go past' 2.000 - just touch it anytime and then it can retrace or do what it likes and you've won.

This way of betting/trading is hugely inefficient but relatively 'safe'.

 

[kamy]

does it have to actually touch 2.000 or can it GO PAST 2.000 and touch 2.002, and i would still win?

 

[£10kLoser]

As long as it touches 2.000 it can then go up Brown's ar*se and you'll still win.

 

[kamy]

lol, been doing some flash bets today on gbp/usd, just made £90 from an original balance of £20.

 

[kamy]

is there anyway of checking the value of the gbp/usd for previous years 07/06 on graphs?

 

[£10kLoser]

Download a free Metatrader here: StrategyBuilderFX MT4 Trading Platform (no registration required. the charts can be set anything from 1 minute to 1 month and go back to 1989.