rav700
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My Advice.......
I have been trading binaries for quite a lot of time..............
Shall I be honest..........I have the odd punt now and again but ever since I have started traing currencies full time I have left that game....Too much manipulation.....
How to loose your money = Binary bet......I have over 5000 trades with them....
If you are good at your T.A and are confident about the product you trade then it is okay but if you are new to trading and you are jumping into binaries it is suicide it is another name for the casino........The house always wins... :cheesy:
If you are succesful at binaries the I will be happy for you....only trade them when you are 100% confident.
I have been trading binaries for quite a lot of time..............
Shall I be honest..........I have the odd punt now and again but ever since I have started traing currencies full time I have left that game....Too much manipulation.....
How to loose your money = Binary bet......I have over 5000 trades with them....
If you are good at your T.A and are confident about the product you trade then it is okay but if you are new to trading and you are jumping into binaries it is suicide it is another name for the casino........The house always wins... :cheesy:
If you are succesful at binaries the I will be happy for you....only trade them when you are 100% confident.
I've done a bit of binary betting on and off for a year or so, and have come to the following conclusions for what it is worth.
1. You need a sound feel for the short term direction of the markets. Sounds obvious, but picking the kind of market where it is easier (or less hard) is crucial.
2. trading them in strongly trending markets is a waste of time - there is no pull back through an hourly "strike"
3. The best opps seem to occur when a relative high or low has been left pretty much at the strike price - ie mkt goes from 10 to 30, trading say 28 at 9am, it then pulls back to 15, you beleive for example that a retest of 30 is very likely. Maybe you can buy 5 or 10s - so it gives you a chance of it moving to evens (50) or if it breaks and makes new highs up to 95.
4. Trade extremes only - because these are effectively short dated options, you need your up side to be min 5:1 in my view, so either buying 5-15 ish, and selling or shorting 95-85. But remember extremes are by definition unlikely to expire in the money. That is where a good feel for a market will give you a tip off that a binary is mispriced.
5. If you dont seek out the extremes, you are better off trading the underlying, as you can put a stop in on an index position and leave your upside open.
good luck
1. You need a sound feel for the short term direction of the markets. Sounds obvious, but picking the kind of market where it is easier (or less hard) is crucial.
2. trading them in strongly trending markets is a waste of time - there is no pull back through an hourly "strike"
3. The best opps seem to occur when a relative high or low has been left pretty much at the strike price - ie mkt goes from 10 to 30, trading say 28 at 9am, it then pulls back to 15, you beleive for example that a retest of 30 is very likely. Maybe you can buy 5 or 10s - so it gives you a chance of it moving to evens (50) or if it breaks and makes new highs up to 95.
4. Trade extremes only - because these are effectively short dated options, you need your up side to be min 5:1 in my view, so either buying 5-15 ish, and selling or shorting 95-85. But remember extremes are by definition unlikely to expire in the money. That is where a good feel for a market will give you a tip off that a binary is mispriced.
5. If you dont seek out the extremes, you are better off trading the underlying, as you can put a stop in on an index position and leave your upside open.
good luck
Last edited:
Gurah, :clap::clap:
This is spot on. This is also my understanding of Binaries, that is that you cut you losses if it starts going in the opposite direction.
Could you let me know which sites you are using?
I have a virtual account on Betonmarkets but they only provide Fixed bets and not Binaries?
Thank you.
This is spot on. This is also my understanding of Binaries, that is that you cut you losses if it starts going in the opposite direction.
Could you let me know which sites you are using?
I have a virtual account on Betonmarkets but they only provide Fixed bets and not Binaries?
Thank you.
mb325
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'4. Trade extremes only - because these are effectively short dated options, you need your up side to be min 5:1 in my view, so either buying 5-15 ish, and selling or shorting 95-85. But remember extremes are by definition unlikely to expire in the money. That is where a good feel for a market will give you a tip off that a binary is mispriced.'
my view on this...i.e. make sure you're trading with good odds. Buying £1/point at 15 is effectively risking £15 to potentially gain £85 (put simply), odds of roughly 5:1. Buying at 5 risks 5 to gain 95, i don't know much about fixed odds but i think thats roughly 18:1?
The last sentence here is the most important imo. Lets say hypothetically the DOW has been supported at 11000 all day, it's now falling towards this point again and the price to buy a 20 min binary is falling correspondingly. However, you reason that it will be supported again and so buy even though the odds suggest otherwise.
This is exactly my trading style, even down to declining trades which make me risk more than 15 points as i don't like the odds. I tend to risk 3% of my capital tops, but this changes depending on how likely i consider a reversal to be.
my view on this...i.e. make sure you're trading with good odds. Buying £1/point at 15 is effectively risking £15 to potentially gain £85 (put simply), odds of roughly 5:1. Buying at 5 risks 5 to gain 95, i don't know much about fixed odds but i think thats roughly 18:1?
The last sentence here is the most important imo. Lets say hypothetically the DOW has been supported at 11000 all day, it's now falling towards this point again and the price to buy a 20 min binary is falling correspondingly. However, you reason that it will be supported again and so buy even though the odds suggest otherwise.
This is exactly my trading style, even down to declining trades which make me risk more than 15 points as i don't like the odds. I tend to risk 3% of my capital tops, but this changes depending on how likely i consider a reversal to be.
