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Why Binary Forex Options are better than Spot Forex

  • #241
  • Jun 23, 2009 3:52pm Jun 23, 2009 3:52pm
don't know
  • #242
  • Jun 23, 2009 4:59pm Jun 23, 2009 4:59pm
Quoting PeterFM
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.

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I like the trade. E/U moved over 250 pips today. With such a big move i think we might have a pullback. GL with the trade.
  • #243
  • Jun 23, 2009 5:11pm Jun 23, 2009 5:11pm
Quoting ferndog
I like the trade. E/U moved over 250 pips today. With such a big move i think we might have a pullback. GL with the trade.
Entered @ 28.9 with minimum lot size, before I saw your post. I can always cover this in the morning if I see the picture changing. I've done a 'running step' series of trades before, where I have multiple touch trades running as the trend develops. Nearest thing I can liken it to is adding-in on my FX account (please note: I'm not talking about Martingale here).

If the trend is strong there are plenty of touch trades that can exploited on the way up or down.

Thanks Ferndog
  • #244
  • Jun 23, 2009 8:47pm Jun 23, 2009 8:47pm
Quoting PeterFM
Entered @ 28.9 with minimum lot size, before I saw your post. I can always cover this in the morning if I see the picture changing. I've done a 'running step' series of trades before, where I have multiple touch trades running as the trend develops. Nearest thing I can liken it to is adding-in on my FX account (please note: I'm not talking about Martingale here).

If the trend is strong there are plenty of touch trades that can exploited on the way up or down.

Thanks Ferndog
I would not want to go against the up trend. Not yet. Let’s see how London does.

If the up move continues, I’ll buy the closest to-be-above binary to “at-the-money”. That’s the closest to 50/50 risk/reward that I can find.

If I see consolidation I’ll either buy a deep “in-the-money” or sell a deep “out-of the-money”.

Right now is too early for me to tell.

Hope the move today didn’t catch anyone short! I cashed in an options straddle.
  • #245
  • Jun 24, 2009 12:41am Jun 24, 2009 12:41am
Hi all option traders,

I'm currently trading fx binary option demo with nadex.com. Some traders here mentioned that I can sell off the contract before it is expired if it's in the money(Am I using this phrase correctly? I meant in profit). I couldn't seem to find any "close trade" or "sell contract" words in the platform. Someone pls help.
Thank you.
  • #246
  • Jun 24, 2009 12:49am Jun 24, 2009 12:49am
you choose direction, buy or sell in order window on the contract you wanted to trade
  • #247
  • Jun 24, 2009 1:13am Jun 24, 2009 1:13am
Quoting MoreYummy
you choose direction, buy or sell in order window on the contract you wanted to trade
Do you mean if I bought 100 contracts, and the contract is in profit now, I need to SELL back 100 contracts to close that contract and vice versa?
  • #248
  • Jun 24, 2009 4:02am Jun 24, 2009 4:02am
Quoting maxcruiver
Do you mean if I bought 100 contracts, and the contract is in profit now, I need to SELL back 100 contracts to close that contract and vice versa?
Click on the trade in the Open Positions window.

You'll see the tab at the top right says 'Close trade'. This means if you want to close the whole position (long 100) you would Sell 100. If you want to take Partial Profits then change the contracts amount to say 50. This would leave the other 50 running until expiry.

I tried opening my Nadex demo to see if I could do the same but they aren't open yet.

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  • #249
  • Jun 24, 2009 4:05am Jun 24, 2009 4:05am
Quoting PeterFM
Click on the trade in the Open Positions window.

You'll see the tab at the top right says 'Close trade'. This means if you want to close the whole position (long 100) you would Sell 100. If you want to take Partial Profits then change the contracts amount to say 50. This would leave the other 50 running until expiry.

I tried opening my Nadex demo to see if I could do the same but they aren't open yet.

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The example you showed was IG Market platform? I haven't tried out IG Market yet. Nadex only allows trades during US session.
  • #250
  • Jun 24, 2009 4:32am Jun 24, 2009 4:32am
Quoting maxcruiver
Hi all option traders,

I'm currently trading fx binary option demo with nadex.com. Some traders here mentioned that I can sell off the contract before it is expired if it's in the money(Am I using this phrase correctly? I meant in profit). I couldn't seem to find any "close trade" or "sell contract" words in the platform. Someone pls help.
Thank you.
Click the green circle next to the binary statement to bring up the order window, then sell your units if you bought them or buy them if you sold them. You can, of course, only do this when the market is open or after the contracts have been settled. Otherwise the green circle will be a red circular x instead.
Binary Options Trader
  • #251
  • Jun 24, 2009 5:34am Jun 24, 2009 5:34am
Quoting siafx
I would not want to go against the up trend. Not yet. Let’s see how London does.

If the up move continues, I’ll buy the closest to-be-above binary to “at-the-money”. That’s the closest to 50/50 risk/reward that I can find.

If I see consolidation I’ll either buy a deep “in-the-money” or sell a deep “out-of the-money”.

Right now is too early for me to tell.

Hope the move today didn’t catch anyone short! I cashed in an options straddle.
Here is an explanation of the terms in the money and out of the money.
  • #252
  • Jun 24, 2009 11:04am Jun 24, 2009 11:04am
Looking for a bigger pull-back, I placed this Buy order earlier @ 83.2 to touch 1.3990. It's struggled a bit and missed by only 10-11 pips last time.

Still expectant as there's a few hours to go yet.

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  • #253
  • Jun 24, 2009 11:22am Jun 24, 2009 11:22am
Quoting Yoda_Glenn
Click the green circle next to the binary statement to bring up the order window, then sell your units if you bought them or buy them if you sold them. You can, of course, only do this when the market is open or after the contracts have been settled. Otherwise the green circle will be a red circular x instead.
It works... Thank you so much
  • #254
  • Jun 24, 2009 3:26pm Jun 24, 2009 3:26pm
i also sold the EURUSD "to be above 1.4140".

two questions:

1- before dissaper the order had the red cycled x. Why the order did not simple disapeared? There is a period of "liquidation"?

2- i cant see the daily touch (ig markets). Where can i find this option?


thanks in advance.
  • #255
  • Jun 24, 2009 3:50pm Jun 24, 2009 3:50pm
Quoting giraia_br
i also sold the EURUSD "to be above 1.4140".

two questions:

1- before dissaper the order had the red cycled x. Why the order did not simple disapeared? There is a period of "liquidation"?

2- i cant see the daily touch (ig markets). Where can i find this option?


thanks in advance.
1. Yes, the contracts are settling between 3 p.m. - 5 p.m.

2. I don't use IG markets, but I think it should be on the right side with the rest of the binaries. Please keep in mind that daily one touch's are not available until the London open.
Binary Options Trader
  • #256
  • Jun 24, 2009 4:08pm Jun 24, 2009 4:08pm
Quoting giraia_br
i also sold the EURUSD "to be above 1.4140".

two questions:

1- before dissaper the order had the red cycled x. Why the order did not simple disapeared? There is a period of "liquidation"?

2- i cant see the daily touch (ig markets). Where can i find this option?


thanks in advance.
1: If you're using IG in the UK the Binaries close (settle) at 20:00 which is 15:00 US ET. The reason is that they use this info to determine the actual price to settle at. This is found in the Info option if you click on the little arrow to the right of any trade in your watchlist or one that is open.
Quote
Settled basis the first print (as reported by Bloomberg) at or after 8.00pm (UK Time)
2: The Daily One Touch is here on your platform

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  • #257
  • Jun 24, 2009 4:21pm Jun 24, 2009 4:21pm
Quoting Yoda_Glenn
1. Yes, the contracts are settling between 3 p.m. - 5 p.m.
.
New York time, correct?

Quote
2. I don't use IG markets, but I think it should be on the right side with the rest of the binaries. Please keep in mind that daily one touch's are not available until the London open.

i can find this at all

there are Ladders and Monthy.


thanks Yoda for answering and for starting the thread.
  • #258
  • Jun 24, 2009 7:02pm Jun 24, 2009 7:02pm
thanks Peter.

i simple don't have the Daily on my platform.

i can't find where to add this here.
  • #259
  • Jun 24, 2009 8:24pm Jun 24, 2009 8:24pm
@ giraia: Yeah, that is New York time for Nadex...although their settlement time might be between 3 p.m. - 4 p.m. Not too sure about IG Markets.
Binary Options Trader
  • #260
  • Jun 25, 2009 12:20pm Jun 25, 2009 12:20pm
"Dear Sir,

Thank you for your email. Unfortunately we do not offer daily one touch binaries, only monthly one-touches or the daily ladders, which is why you cannot see them on your platform."

BTW:

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
Fax: 312 981 5050


what i do now?

i need to open a new account and choose England (they don't have Brazil) or it will be a waste of time?



thanks and sorry for my bad English.
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