Why Binary Forex Options are better than Spot Forex | Page 12 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Nadex trading binary options, you better be losing money on that 3 replies

Multi Time Frame Analysis for Spot and Binary Options 457 replies

Rekon Xs and Market Scanner for Spot and Binary Options 442 replies

Spot Forex vs CFD Forex: Are we really trading Spot? 11 replies

show me one advantage of binary options over spot forex 16 replies

Attachments: Why Binary Forex Options are better than Spot Forex
Exit Attachments

Why Binary Forex Options are better than Spot Forex

  • #221
  • Jun 21, 2009 8:13pm Jun 21, 2009 8:13pm
does ig now allow 0.1 lots permanently? in the past they started you with 0.1 minimum and after 5 weeks it becomes 1 standard contract minimum... this is what stopped me from continuing with them. Can any confirm the current terms? site is not informative in that regard.
  • #222
  • Jun 21, 2009 11:26pm Jun 21, 2009 11:26pm
Fixed trading times sucks. ^^
I wanto to buy my Tunnel Binary but the market's not open yet.
It will open when I'm away from my laptop....
  • #223
  • Jun 22, 2009 4:13am Jun 22, 2009 4:13am
A question for ig live trader: Are prices of EURUSD Daily One Touch on demo platform similar to live trading prices?

A screenshot of your live PureDeal showing EURUSD Daily One Touch would be highly appreciated!
  • #224
  • Jun 22, 2009 6:11am Jun 22, 2009 6:11am
Quoting Tjpld
Fixed trading times sucks. ^^
I wanto to buy my Tunnel Binary but the market's not open yet.
It will open when I'm away from my laptop....
Yeah, the downside to binaries is that they mostly operate like old fashioned exchanges, with old fashioned hours. (except that they are open from 4 p.m. till 2 a.m., as well as 8 to 3.)
Binary Options Trader
  • #225
  • Jun 22, 2009 8:59am Jun 22, 2009 8:59am
Wallstreet ATR (14) Daily is at 142 Points. Dropped 100 Pips so far.
Bought a Wallst. to stay in Range +/- 170 at 65.
Let's see if that strategy works out. 65 is quite cheap I was expecting something like 85. At 65 i can buy more contracts and make more money on each of them too.
  • #226
  • Jun 22, 2009 9:17am Jun 22, 2009 9:17am
nadex has no contract fees for the next 4 weeks starting today. They also added us indices
  • #227
  • Jun 22, 2009 11:10am Jun 22, 2009 11:10am
I just got an email from Igmarkets. They only support standard lots. the micro lots, i.e 0.1 lot trades are only available for the initial six week education program. viz:

Quote
Dear Sir

Thank you for your email and I can confirm that we have not changed our policy. Our minimum lot size is 1 mini contract; micro sized contracts are only for the 6 weeks during the education course. If you have any further questions please feel free to contact us again.

Kind regards,


Marnie Phelan
IG Markets, Inc. Client Services
311 South Wacker Drive | Suite 2650
Chicago | 60606 | www.igmarkets.com |
US Toll Free: 866 748 1340
International: 312 981 8010
  • #228
  • Jun 22, 2009 2:16pm Jun 22, 2009 2:16pm
Just an update, I was hoping the account would have been doubled today, but I didn't feel comfortable with longs either in Aus/Usd or (and especially) Gbp/Usd, so I just took some very safe in the money trades. So the account hasn't doubled yet, but I did gain $14.00 and went from $458.00 to $472.00. I guess that's a little over 3% today.

I have to say that this is the easiest way I've ever made money, and the most enjoyable. The problem is, I could say that to you 99 times, and then 1 day lose it all.

So for now, I'm hoping just to double (which would be $500.00) and then take my initial $250.00 back out and see what happens from there.
  • #229
  • Jun 22, 2009 2:57pm Jun 22, 2009 2:57pm
Good thing you did that. Everything was going down today. A/U is way overbought so it was time for it to go down.
  • #230
  • Jun 22, 2009 2:58pm Jun 22, 2009 2:58pm
Quoting ferndog
Good thing you did that. Everything was going down today. A/U is way overbought so it was time for it to go down.
Yes, but I would not be comfortable shorting it right now as the uptrend is so strong and its right on the lower trend line.
  • #231
  • Jun 22, 2009 3:10pm Jun 22, 2009 3:10pm
Thanks Yoda for this stuff. Not sure what my friends in the J16 Group will make of this (at least I know what Clockwork thinks already lol) but here's my thoughts so far. Some of these points have already been covered, but I still think it will help those that skip through threads;

 

  1. If you don't know what you're doing at the moment when you're trading FX this becomes nothing more than a blind gamble
  2. If you have a solid understanding of Support/Resistance you can make this work
  3. If you have a solid understanding of Trend Trading you can make this work
  4. If you have a solid understanding of Market Timing you can make this work
  5. If you have a solid understanding of FF's News Releases you can make this work

These are my trades for the last few days ; some Spot (won't be doing this with IG in the future) and some Binaries. The loser was down to ignorance. The moral is that when you start out pick one instrument and trade in one direction.

In my spot account (IBFX & Alpari) I trade only GBPJPY with occasional trips into EURGBP. As there are only Cable & Fiber on the binaries I decided to go with Fiber. I set up my charts, applied my normal trading approach and made decisions on direction and targets. No short-term plunges as some have done on here but that may be another tactic for the future.

Maybe luck, maybe not; time will tell but I'll be running this alongside my normal trading. The upside is no CGT in the UK compared with Spot FX.

Attached Image (click to enlarge)
Click to Enlarge Name: bin_o Jun. 22, 2009.gif Size: 21 KB
  • #232
  • Jun 22, 2009 3:22pm Jun 22, 2009 3:22pm
Wow, Peter, very nicely said and nicely done!

Quoting PeterFM
Thanks Yoda for this stuff. Not sure what my friends in the J16 Group will make of this (at least I know what Clockwork thinks already lol) but here's my thoughts so far. Some of these points have already been covered, but I still think it will help those that skip through threads;
[list=1][*]If you don't know what you're doing at the moment when you're trading FX this becomes nothing more than a blind gamble[*]If you have a solid understanding of Support/Resistance you can make this work[*]If you have a solid understanding of Trend Trading...
  • #233
  • Jun 23, 2009 1:53pm Jun 23, 2009 1:53pm
Well guys, it's been fun. I doubled my account today (after 8 days of trading) and have decided to take the money and run. Many thanks to Yoda for starting this thread and introducing us all to trading in this way. I just determined that I cannot trade this way full time, though I'm sure others can make it work just fine.

Enjoy!
  • #234
  • Edited 2:30pm Jun 23, 2009 1:55pm | Edited 2:30pm
With-trend trade where I had identified (to my mind anyway) solid Daily support at 1.3938 and the next obvious area of Resistance at 1.4025.

I felt that, despite mixed news on FF's front page, the impetus was up so took the trade shown. I was happy to take it at 72.7 although there was still quite some time to go to expiry.

In addition to this trade, I also took the EUR to touch 1.4030 as this was only just above my Resistance area and I expected that if price made it that far it would certainly test the 1.4025 mark. As it was a little more speculative I only had 1 lot on it.

---------------------------------
Attached Image (click to enlarge)
Click to Enlarge Name: bin_o Jun. 23, 2009.gif Size: 25 KB
  • #235
  • Jun 23, 2009 2:20pm Jun 23, 2009 2:20pm
Quoting Dreamliner
Well guys, it's been fun. I doubled my account today (after 8 days of trading) and have decided to take the money and run. Many thanks to Yoda for starting this thread and introducing us all to trading in this way. I just determined that I cannot trade this way full time, though I'm sure others can make it work just fine.

Enjoy!
Good to know one's own mind though. Good luck whatever you settle on.
  • #236
  • Jun 23, 2009 2:22pm Jun 23, 2009 2:22pm
Quoting PeterFM
Good to one's own mind though. Good luck whatever you settle on.
I took out my initial deposit, plus $150.00, leaving $100.00 in to try it again. That way I've got my money back, plus some, and will keep at it. I just meant that I couldn't trade my money this way long term.
  • #237
  • Jun 23, 2009 2:24pm Jun 23, 2009 2:24pm
Quoting Dreamliner
Well guys, it's been fun. I doubled my account today (after 8 days of trading) and have decided to take the money and run. Many thanks to Yoda for starting this thread and introducing us all to trading in this way. I just determined that I cannot trade this way full time, though I'm sure others can make it work just fine.

Enjoy!
yep, you better take the money and run and dont be tempted to do it again until you find a way to improove your risk to reward. Otherwise it's a matter of time, the statistics will eventually get you...and it might happen big time when you least expect.

take a look at this options article to see what I mean. There's a table down there that shows the probability of consecutive losses as a function of win percentage. You'll find it very interesting.

http://www.financial-spread-betting....s-winners.html

Cheers!!
  • #238
  • Jun 23, 2009 2:25pm Jun 23, 2009 2:25pm
Quoting Mt4signal
yep, you better take the money and run and dont be tempted to do it again until you find a way to improove your risk to reward. Otherwise it's a matter of time, the statistics will eventually get you...and it might happen big time when you least expect.

take a look at this options article to see what I mean. There's a table down there that shows the probability of consecutive losses as a function of win percentage. You'll find it very interesting.

http://www.financial-spread-betting....s-winners.html

Cheers!!
Thanks much! I'll look at it!
  • #239
  • Jun 23, 2009 3:16pm Jun 23, 2009 3:16pm
There was some math system i heard about a while back about trading options with high RR so you only had to hit 30% or something like that. But i forgot where i saw it. Don't know if it was any good.

Today i lost my first 2 trades right off the bat on e/u. I sold at 40 & the other at 35. So i was in the hole over 100 smackers. But i came back in the end & ended up with ovr 50 profit.
  • #240
  • Jun 23, 2009 3:42pm Jun 23, 2009 3:42pm
I'm looking at Daily Resistance at 1.4137 and there's the EUR Ladder trade as shown.

I'm tempted to go in now (Sell) at a reasonable 31 as I'm thinking it won't break that barrier. Discretion being the better part of valour I'll wait till the morning and review the chart then.

Feel free to pick the bones on this one as I'm here to learn this stuff.

-----------------
Attached Images
0 traders viewing now