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jake44
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Postby jake44 » Wed Jul 29, 2009 1:14 am

Some folks might find this interesting: about binary options.
http://www.forexfactory.com/showthread.php?t=173735

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MightyOne
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Re: binary options

Postby MightyOne » Wed Jul 29, 2009 1:46 am

prochargedmopar wrote:
MightyOne wrote:
dalibor wrote:
rowdy wrote:
dalibor wrote:I studied binary options last night and i think its very interesting world... a lot of strategies for daily speculation, i will try it with ig markets on demo account... and for fun pure gambling with choiceodds, five minute and hourly binaries, small amount of course :lol: for example betts on market extremes - consecutive bars, 7 and more on 5 minute market and 5 and more on hourly... do you remember tro buzzards?


According to their website they say they offer daily and weekly binaries. Do they offer smaller timeframes? Your post suggests that they do. I realize I could just open a demo and find out but I am not ready to jump into binaries just yet. I am trying to keep from putting too many irons in the fire. Eventually though I want to explore them so tell me more. Minimum account size and other info would be helpful.


IG Markets offer daily binaries forex - up/down, ladders and one touch, hourlies only for indices - ftse, wall st etc., minimum 100.00 pounds, free demo account, platform looks really good

Choiceodds.com offer 5 minute, hourly and daily binaries for fx, indices and commodities, but no demo account... i watched online their 5 minutes binaries - fast as hell


You do not have to hold a daily binary until expiration!

Expiration just means price settling at 0 or 100 depending on which side of the strike it expires on.

When you enter long 20 pips from the floor it is the same thing as going long the spot with a 20 pip stop only:

1. If price moves 20 pips against you then you are not stopped out

2. The most you can make is 80 pips profit (how many of you do that in a single trade?)

3. You have all day or all week before you are stopped out by time.

4. Even when you're wrong your position still has value until expiration. You can recover 5 or 6 pips because a position with time value has value.

So if you enter 18 pips from the floor and later recover 5 then your true risk is 13 pips (size your positions accordingly).

You would have to be insane to choose gambling over the binary market.

Which do you prefer:

A: 0.9 to 1 payoff

or

B: >4 to 1 payoff and recover 25% of your bet if you are wrong.

Hard choice I know :roll:


I opened a demo,
Have no idea what to do, how the platform works, ect., but will read up on it a bit.

I guess it's no different than my first trade in forex, which was live, with a mini account. When trying to close the trade in profit I actually hedged.

Hmmmmm.

Better demo this one.


You will notice that there is a list that reads something like:

GBPUSD to close >1.5000

If you think that price will close higher then you buy
If you think that price will close lower then you sell
If you don't really care, but wish to profit from a rise then buy near the floor.

If the strike is 1.5000 then the floor is at 1.4950 and the ceiling is at 1.5050.

If you could buy at 1.4950 then you would have a zero risk trade because you cannot lose money beyond the floor.

You want to buy as close to a floor as possible and strikes are 20 pips apart so you follow these simple steps:

1. Price is within 10 pips of which strike?

You look down and see strikes at:

GBPUSD to close >:

1.5000, 1.5020, 1.5040, 1.5060, 1.5080, etc

The current price is 1.5034 so it is within 10 pips of the 1.5040 strike.

2. You want to buy so you count upwards two strikes and buy the 1.5080 strike.

Where is the floor of the 1.5080 strike?

1.5080 - 0.0050 = 1.5030 so your risk is 1.5034 - 1.5030 or ~4 pips.

So the rule to remember is:

When price is within 10 pips from a strike you buy two strikes higher or sell two strikes lower.

There is a little button on the platform that turns the list into bid/ask boxes by strike level with the number of lots available at each price.
Last edited by MightyOne on Wed Jul 29, 2009 4:22 am, edited 2 times in total.

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MightyOne
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Re: binary options

Postby MightyOne » Wed Jul 29, 2009 1:58 am

rowdy wrote:
MightyOne wrote:
dalibor wrote:
rowdy wrote:
dalibor wrote:I studied binary options last night and i think its very interesting world... a lot of strategies for daily speculation, i will try it with ig markets on demo account... and for fun pure gambling with choiceodds, five minute and hourly binaries, small amount of course :lol: for example betts on market extremes - consecutive bars, 7 and more on 5 minute market and 5 and more on hourly... do you remember tro buzzards?


According to their website they say they offer daily and weekly binaries. Do they offer smaller timeframes? Your post suggests that they do. I realize I could just open a demo and find out but I am not ready to jump into binaries just yet. I am trying to keep from putting too many irons in the fire. Eventually though I want to explore them so tell me more. Minimum account size and other info would be helpful.


IG Markets offer daily binaries forex - up/down, ladders and one touch, hourlies only for indices - ftse, wall st etc., minimum 100.00 pounds, free demo account, platform looks really good

Choiceodds.com offer 5 minute, hourly and daily binaries for fx, indices and commodities, but no demo account... i watched online their 5 minutes binaries - fast as hell


You do not have to hold a daily binary until expiration!

Expiration just means price settling at 0 or 100 depending on which side of the strike it expires on.

When you enter long 20 pips from the floor it is the same thing as going long the spot with a 20 pip stop only:

1. If price moves 20 pips against you then you are not stopped out

2. The most you can make is 80 pips profit (how many of you do that in a single trade?)

3. You have all day or all week before you are stopped out by time.

4. Even when you're wrong your position still has value until expiration. You can recover 5 or 6 pips because a position with time value has value.

So if you enter 18 pips from the floor and later recover 5 then your true risk is 13 pips (size your positions accordingly).

You would have to be insane to choose gambling over the binary market.

Which do you prefer:

A: 0.9 to 1 payoff

or

B: >4 to 1 payoff and recover 25% of your bet if you are wrong.

Hard choice I know :roll:


This brings up an issue I didnt think about. When it comes to the binaries, what is considered trading and what is considered gambling? Trading is perfectly legal in the US but online gambling is not. How do you differentiate?


If they are regulated by a gambling authority and you place a wager then you are a gambler.

If they are regulated by a trading authority and you place a wager then you are a trader.

The difference is that as a gambler the casino gives you the shaft and as a trader you give other traders the shaft (similar to playing poker).

pierre23
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Re: binary options

Postby pierre23 » Wed Jul 29, 2009 2:08 am

MightyOne wrote:You will notice that there is a list that reads something like:

GBPUSD to close >1.5000

If you think that price will close higher then you buy
If you think that price will close lower then you sell
If you don't really care, but wish to profit from a rise then buy near the floor.

If the strike is 1.5000 then the floor is at 1.4950 and the ceiling is at 1.5050.

If you could buy at 1.4950 then you would have a zero risk trade because you cannot lose money beyond the floor.

You want to buy as close to a floor as possible and strikes are 20 pips apart so you follow these simple steps:

1. Price is within 10 pips of which strike?

You look down and see strikes at:

GBPUSD to close >:

1.5000, 1.5020, 1.5040, 1.5060, 1.5070, etc

The current price is 1.5034 so it is within 10 pips of the 1.5040 strike.

2. You want to buy so you count upwards two strikes and buy the 1.5070 strike.

Where is the floor of the 1.5070 strike?

1.5070 - 0.0050 = 1.5020 so your risk is 1.5034 - 1.5020 or 14 pips.

So the rule to remember is:

When price is within 10 pips from a strike you buy two strikes higher or sell two strikes lower.

There is a little button on the platform that turns the list into bid/ask boxes by strike level with the number of lots available at each price.


Looks like you're really getting into it mo. Which company are you trading this with? Didn't like BOM?

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Re: binary options

Postby MightyOne » Wed Jul 29, 2009 2:53 am

pierre23 wrote:
MightyOne wrote:You will notice that there is a list that reads something like:

GBPUSD to close >1.5000

If you think that price will close higher then you buy
If you think that price will close lower then you sell
If you don't really care, but wish to profit from a rise then buy near the floor.

If the strike is 1.5000 then the floor is at 1.4950 and the ceiling is at 1.5050.

If you could buy at 1.4950 then you would have a zero risk trade because you cannot lose money beyond the floor.

You want to buy as close to a floor as possible and strikes are 20 pips apart so you follow these simple steps:

1. Price is within 10 pips of which strike?

You look down and see strikes at:

GBPUSD to close >:

1.5000, 1.5020, 1.5040, 1.5060, 1.5070, etc

The current price is 1.5034 so it is within 10 pips of the 1.5040 strike.

2. You want to buy so you count upwards two strikes and buy the 1.5070 strike.

Where is the floor of the 1.5070 strike?

1.5070 - 0.0050 = 1.5020 so your risk is 1.5034 - 1.5020 or 14 pips.

So the rule to remember is:

When price is within 10 pips from a strike you buy two strikes higher or sell two strikes lower.

There is a little button on the platform that turns the list into bid/ask boxes by strike level with the number of lots available at each price.


Looks like you're really getting into it mo. Which company are you trading this with? Didn't like BOM?


I look before a leap ;)

I will be going through NADEX

It is not that I don't like BOM it is just that I like US regulation and the certainty that I will receive my money when I ask for it.

Nadex/IG Markets has 1.6 billion in assets and that makes me comfortable.

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Re: binary options

Postby pierre23 » Wed Jul 29, 2009 3:07 am

MightyOne wrote:
pierre23 wrote:
MightyOne wrote:You will notice that there is a list that reads something like:

GBPUSD to close >1.5000

If you think that price will close higher then you buy
If you think that price will close lower then you sell
If you don't really care, but wish to profit from a rise then buy near the floor.

If the strike is 1.5000 then the floor is at 1.4950 and the ceiling is at 1.5050.

If you could buy at 1.4950 then you would have a zero risk trade because you cannot lose money beyond the floor.

You want to buy as close to a floor as possible and strikes are 20 pips apart so you follow these simple steps:

1. Price is within 10 pips of which strike?

You look down and see strikes at:

GBPUSD to close >:

1.5000, 1.5020, 1.5040, 1.5060, 1.5070, etc

The current price is 1.5034 so it is within 10 pips of the 1.5040 strike.

2. You want to buy so you count upwards two strikes and buy the 1.5070 strike.

Where is the floor of the 1.5070 strike?

1.5070 - 0.0050 = 1.5020 so your risk is 1.5034 - 1.5020 or 14 pips.

So the rule to remember is:

When price is within 10 pips from a strike you buy two strikes higher or sell two strikes lower.

There is a little button on the platform that turns the list into bid/ask boxes by strike level with the number of lots available at each price.


Looks like you're really getting into it mo. Which company are you trading this with? Didn't like BOM?


I look before a leap ;)

I will be going through NADEX

It is not that I don't like BOM it is just that I like US regulation and the certainty that I will receive my money when I ask for it.

Nadex/IG Markets has 1.6 billion in assets and that makes me comfortable.


ahh k fair enough thanks. Unfortunatly nadex don't accept residence outside of the US. Was there any other company you had your eye on that may be acceptable for australian residence?

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Re: binary options

Postby retireme » Wed Jul 29, 2009 3:17 am


ahh k fair enough thanks. Unfortunatly nadex don't accept residence outside of the US. Was there any other company you had your eye on that may be acceptable for australian residence?


http://binaryforex.com/brokers.asp?cat=10

I know nothing about binaries nor the companies that trade them in Australia. May I also suggest a new thread for your binary questions / suggestions / tactics? At 500+ pages already devoted to 'never lose again, it would seem prudent to do so.

Regards

Retireme

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Re: binary options

Postby es/pip » Wed Jul 29, 2009 3:27 am

retireme wrote:

ahh k fair enough thanks. Unfortunatly nadex don't accept residence outside of the US. Was there any other company you had your eye on that may be acceptable for australian residence?


http://binaryforex.com/brokers.asp?cat=10

I know nothing about binaries nor the companies that trade them in Australia. May I also suggest a new thread for your binary questions / suggestions / tactics? At 500+ pages already devoted to 'never lose again, it would seem prudent to do so.

Regards

Retireme


:?: :?: :?:





the thread is titled " never lose again"

have you read the stuff that mighty one has presented?

he brought up this discussion--- i personally listen to every one of his posts

i think we will go ahead and discuss it
Last edited by es/pip on Wed Jul 29, 2009 4:39 am, edited 1 time in total.

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Postby es/pip » Wed Jul 29, 2009 3:45 am

Image

Image
Bend over and assume the position for another 4 years of hope and change.

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Re: binary options

Postby MightyOne » Wed Jul 29, 2009 4:17 am

pierre23 wrote:
MightyOne wrote:
pierre23 wrote:
MightyOne wrote:You will notice that there is a list that reads something like:

GBPUSD to close >1.5000

If you think that price will close higher then you buy
If you think that price will close lower then you sell
If you don't really care, but wish to profit from a rise then buy near the floor.

If the strike is 1.5000 then the floor is at 1.4950 and the ceiling is at 1.5050.

If you could buy at 1.4950 then you would have a zero risk trade because you cannot lose money beyond the floor.

You want to buy as close to a floor as possible and strikes are 20 pips apart so you follow these simple steps:

1. Price is within 10 pips of which strike?

You look down and see strikes at:

GBPUSD to close >:

1.5000, 1.5020, 1.5040, 1.5060, 1.5070, etc

The current price is 1.5034 so it is within 10 pips of the 1.5040 strike.

2. You want to buy so you count upwards two strikes and buy the 1.5070 strike.

Where is the floor of the 1.5070 strike?

1.5070 - 0.0050 = 1.5020 so your risk is 1.5034 - 1.5020 or 14 pips.

So the rule to remember is:

When price is within 10 pips from a strike you buy two strikes higher or sell two strikes lower.

There is a little button on the platform that turns the list into bid/ask boxes by strike level with the number of lots available at each price.


Looks like you're really getting into it mo. Which company are you trading this with? Didn't like BOM?


I look before a leap ;)

I will be going through NADEX

It is not that I don't like BOM it is just that I like US regulation and the certainty that I will receive my money when I ask for it.

Nadex/IG Markets has 1.6 billion in assets and that makes me comfortable.


ahh k fair enough thanks. Unfortunatly nadex don't accept residence outside of the US. Was there any other company you had your eye on that may be acceptable for australian residence?


IG Markets should accept Australians ;)

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