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Why Binary Forex Options are better than Spot Forex

  • #341
  • Jul 4, 2009 6:48am Jul 4, 2009 6:48am
does anyone know for sure....whether broker is LOOSING or WINING money when im trading options at IG index or hedgestreet? or are the other people who are loosing and broker is just getting commissions?

thx
  • #342
  • Jul 4, 2009 7:05am Jul 4, 2009 7:05am
oh, so you lost money to me... I had a short @ 1.4160-> t/p 1.4100 triggered by that glitch which made me 6$

Quoting ferndog
Let me tell you what happened today. I trade hourly contracts. I made a trade with less than 30 min to expiration on e/u which went up today. I sold 3 at 15 for price to close <1.4150. Price was hanging around at 1.4130 & 1.4140. Price at 1.4150 was holding good as a resistance. So there are 2 minutes left to go & the price is still at 1.4130 & all of a sudden i see this huge bullish candle take off. I couldn't believe my eyes. It went up about 70 pips in about 2 mins. Trading had closed so i couldn't do anything. The bad thing is I had already...
  • #343
  • Jul 4, 2009 7:33am Jul 4, 2009 7:33am
Quoting reres
does anyone know for sure....whether broker is LOOSING or WINING money when im trading options at IG index or hedgestreet? or are the other people who are loosing and broker is just getting commissions?

thx
Broker only makes commission, they do not make or lose on our trades.
  • #344
  • Jul 4, 2009 12:49pm Jul 4, 2009 12:49pm
Does anyone know how these types of contracts (binary) are treated by the IRS? I've attempted to research on the web with very few results. It appears that for such a new instrument, not much is known. I do not want to get into this and later find out that I should've declared some kind of status or filed some kind of form.

So far the demo has been quite successful and I would like to move forward; still need some info.

I don't want explicit tax advice, just general facts on the binary contract such as Nadex and what implications that it might have. I don't want to spend much more on accountant advice than I personally would make on these small contracts. Yes, I am cheap.

Any ideas out there from you tax whizzes?
  • #345
  • Jul 4, 2009 4:05pm Jul 4, 2009 4:05pm
Quoting Dreamliner
Broker only makes commission, they do not make or lose on our trades.
This is the beauty of binaries, we're trading with each other (other traders) and not against our broker, who would have a long term interest in seeing us lose.
Binary Options Trader
  • #346
  • Jul 4, 2009 4:12pm Jul 4, 2009 4:12pm
Quoting bohunck
Does anyone know how these types of contracts (binary) are treated by the IRS? I've attempted to research on the web with very few results. It appears that for such a new instrument, not much is known. I do not want to get into this and later find out that I should've declared some kind of status or filed some kind of form.

So far the demo has been quite successful and I would like to move forward; still need some info.

I don't want explicit tax advice, just general facts on the binary contract such as Nadex and what implications that it might...
Maybe this might help??

http://www.house.gov/jct/x-21-08.pdf
Binary Options Trader
  • #347
  • Jul 4, 2009 6:18pm Jul 4, 2009 6:18pm
Quoting Yoda_Glenn
Maybe this might help??

http://www.house.gov/jct/x-21-08.pdf

Perfect. Just what I was looking for! I will study. Thanks again.
  • #348
  • Jul 4, 2009 11:52pm Jul 4, 2009 11:52pm
Quoting billye
oh, so you lost money to me... I had a short @ 1.4160-> t/p 1.4100 triggered by that glitch which made me 6$
Yea i lost on that trade. You win some you lose some.
  • #349
  • Jul 6, 2009 12:44pm Jul 6, 2009 12:44pm
Quoting Dreamliner
Broker only makes commission, they do not make or lose on our trades.
somehow i dont believe this becouse spread is always the same there. if these were market conditions the spread would vary...and prices would as well. but they are constant.

also it looks like they have different pricing models for options there...
  • #350
  • Jul 6, 2009 1:01pm Jul 6, 2009 1:01pm
Does anyone know what the maximum trade size is for binaries at igmarkets?
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #351
  • Jul 6, 2009 1:02pm Jul 6, 2009 1:02pm
Quoting Gambler180
Does anyone know what the maximum trade size is for binaries at igmarkets?
Yes, I'm making so much money with them that I decided to ask. It is 10 contracts. But you can trade more just by making another trade, or by calling them.
  • #352
  • Jul 6, 2009 1:08pm Jul 6, 2009 1:08pm
Quoting Dreamliner
Yes, I'm making so much money with them that I decided to ask. It is 10 contracts. But you can trade more just by making another trade, or by calling them.
Okay. Have you doubled your money yet? I started last week and earned about 19 %. Today I will earn about 7.4 %

Edit: If I make two 10 contracts trades does it then have to be with two different symbols or can it be the same symbol?
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #353
  • Jul 6, 2009 1:16pm Jul 6, 2009 1:16pm
Quoting Gambler180
Okay. Have you doubled your money yet? I started last week and earned about 19 %. Today I will earn about 7.4 %

Edit: If I make two 10 contracts trades does it then have to be with two different symbols or can it be the same symbol?
I have doubled my money twice, and tomorrow or the next day will be the third time. Of course I've been at it a whole month now .
  • #354
  • Jul 6, 2009 1:31pm Jul 6, 2009 1:31pm
Quoting Dreamliner
I have doubled my money twice, and tomorrow or the next day will be the third time. Of course I've been at it a whole month now .
How do you do it so fast? I earn from 0 % to 10 % in a day by trading very low risk daily up/down ladders and I usually wait until after important news is released.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #355
  • Jul 6, 2009 1:35pm Jul 6, 2009 1:35pm
Quoting Gambler180
How do you do it so fast? I earn from 0 % to 10 % in a day by trading very low risk daily up/down ladders and I usually wait until after important news is released.
That is the exact method I have started using just last Friday. What I was doing before that was entering right at the open of the next day, when the ladders were in the 80's, but that was very risky. Now I'm doing as you said above, I enter between 8:00-10:00 EST (depending on news for the day) with the low risk ladder and make about 5-10 percent per day.
  • #356
  • Jul 6, 2009 7:11pm Jul 6, 2009 7:11pm
I am experimenting with buying or selling the closest binary to a moving average on the 30 minute charts after news. Today sucked.
  • #357
  • Jul 6, 2009 7:41pm Jul 6, 2009 7:41pm
Quoting siafx
i am experimenting with buying or selling the closest binary to a moving average on the 30 minute charts after news. Today sucked.
just use supp. & res. Lines,pivot points, & whole #'s
  • #358
  • Jul 7, 2009 2:13pm Jul 7, 2009 2:13pm
k just kinda gettin this stuff so be gentle

today i baught

(master) usd/ jpy 94 to 97 at 3pm
EU > 1.3780 at 3pm
EU > 1.3800 at 3pm

with my understanding i should win on all 3.... but my acount is 470$ in the red....
  • #359
  • Jul 7, 2009 2:15pm Jul 7, 2009 2:15pm
Quoting pizdun
k just kinda gettin this stuff so be gentle

today i baught

(master) usd/ jpy 94 to 97 at 3pm
EU > 1.3780 at 3pm
EU > 1.3800 at 3pm

with my understanding i should win on all 3.... but my acount is 470$ in the red....
what's price of this?

EU > 1.3780 at 3pm
EU > 1.3800 at 3pm
  • #360
  • Jul 7, 2009 3:19pm Jul 7, 2009 3:19pm
they were both 95 i believe
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