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Attachments: Nadex Forex Bull Spreads
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Nadex Forex Bull Spreads

You can close binaries early, but the profit/loss is based on the point scale of the contract. At expiry, this scale is disregarded and your profit is all or nothing.

http://www.nadex.com/trade/binary-how-it-works.html
Have you ever opened a live account with Nadex agent?
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
I opened one once I realized it was possible to do so without funding. This allows me to check pricing without opening a demo every 2 weeks. I haven't funded yet, because I'm still studying my different options when it comes to options :nerd::
http://www.forexfactory.com/showthread.php?t=194796
Quoting JohnnyGURU
On the converse if it was at 3602 you can buy it with a at most risk of $2 for a potential profit of $98 if you can catch it at the right time. These you can just sit back, if it goes down all your out is $2, up, you win up to $98.
This right here is the true beauty of bull spreads.
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
After doing a lot of research on FX Options, I thought I'd refocus on binaries and check back in here to see if any of the thread subscribers or new readers had any further developed thoughts on Nadex and/or binaries. I thought I would take another look at OptionBit binaries as well, although I'm still apprehensive about OptionBit having that offshore vibe.
Quoting agent6488
After doing a lot of research on FX Options, I thought I'd refocus on binaries and check back in here to see if any of the thread subscribers or new readers had any further developed thoughts on Nadex and/or binaries. I thought I would take another look at OptionBit binaries as well, although I'm still apprehensive about OptionBit having that offshore vibe.
Yes the offshore deal is scary but I've had good luck with OptionBit and AnyOption, I have made withdrawals and am up over 1000% over my initial investment since February. My only advice would be to withdraw, withdraw, withdraw, just in case. I only leave enough in my account to execute the trades I want, if you need to fund the account fast to get some trade it only takes a minute to get money in, might as well just have it in your bank account somewhere else in case something odd happens.
Quoting JohnnyGURU
Yes the offshore deal is scary but I've had good luck with OptionBit and AnyOption, I have made withdrawals and am up over 1000% over my initial investment since February. My only advice would be to withdraw, withdraw, withdraw, just in case. I only leave enough in my account to execute the trades I want, if you need to fund the account fast to get some trade it only takes a minute to get money in, might as well just have it in your bank account somewhere else in case something odd happens.
How long did it take for you to receive your withdrawal?

Are both OptionBit and AnyOption located overseas? Do they accept U.S. residents as clients?

What problems (if any) have you encountered trading with them (trade execution, slippage, etc.)?

Also, what is your opinion of Nadex?
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
kapital,
Most of these small binary options shops are located in Cyprus, and do work with U.S. residents. Check out the rest of the thread for more info on this and some posts that touch a bit on your other questions.

Johnny,
I had the same thoughts about frequent withdrawals.
I almost opened an OptionBit account. The short timeframes are very appealing, but I wouldn't have the ability to manage risk/reward, as the payouts seem to only be 80% of what is risked. Nadex trading requires me to wait longer until expiry, but at least I can set up low risk, high reward trades. You're finding you're able to predict short term bias more than 50% of the time?
OptionBit vs. AnyOption?
So, when trading standard binary options on OptionBit, is the current price at the time of trade execution the only price you are allowed to use as the strike price?

Also, are the contract lengths for all forex binaries only 30mins?
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
Quoting agent6488
kapital,
Most of these small binary options shops are located in Cyprus, and do work with U.S. residents. Check out the rest of the thread for more info on this and some posts that touch a bit on your other questions.

Johnny,
I had the same thoughts about frequent withdrawals.
I almost opened an OptionBit account. The short timeframes are very appealing, but I wouldn't have the ability to manage risk/reward, as the payouts seem to only be 80% of what is risked. Nadex trading requires me to wait longer until expiry, but at least I can set up low...
Yes, you actually have to be right 56% of the time for break even. There are also certain techniques you can use to make awesome R/R on OB or AO. Example, say you place a put order at 1.4400 on EUR. Then it moves to 1.4380 and you now think it will bounce back up from here so you place a call in the same amount. So now what you have is a trade where your risk is 19% for a potential win of 162%. If it lands between 1.4400 and 1.4380 you just made 162% (2 x 81%) but one of the trades will win no matter what it does so the most you will be out is the 19% difference. Just one good technique there, you can do others if the situation permits.

OB vs AO-

1. AO's payout % can vary a little OB's is fixed.
2. AO's platform is better and they seem less shady than OB.
3. AO withdrawal time is a little faster.
4. AO has a native mobile trading App.
5. AO trades 24 hr a day (just started) OB 22 hours.
6. OB you can close early.
7. Spreads are usually lower on OB.
8. OB has the lowest minimum, $10.

For withdrawals with both count on about three weeks to recieve, not the greatest but okay.

Kapital,
Yes the strike price moves as the price moves during the hour. The strike is whenever you hit the trade button. The contracts on OB are all one hour but they are spaced in 30 minute sections, I.E. there are one hours from 9:00 - 10:00, 9:30 - 10:30, 11:00 -12:00, etc...

AO does not have the mid hour ranges only 9:00-10:00, 10:00-11:00 etc.

I never have slippage but you must watch the spread, it is usually very small or nonexistant but occasionally I have seen 5 pips or so, so you must watch it. Execution on occasion will be rejected but not commonly. On OB, sometimes the close early option won't work at all but again not common and I don't do it that much anyways.

With that being said I wish Nadex would refine their binaries to one hour only instead of two and expand them to not only be over the US session. I would use them exclusively if they did that but they don't so I use these other guys.
  • Post #91
  • Quote
  • Edited 12:24pm Apr 8, 2011 11:11am | Edited 12:24pm
Quoting JohnnyGURU
Yes, you actually have to be right 56% of the time for break even. There are also certain techniques you can use to make awesome R/R on OB or AO. Example, say you place a put order at 1.4400 on EUR. Then it moves to 1.4380 and you now think it will bounce back up from here so you place a call in the same amount. So now what you have is a trade where your risk is 19% for a potential win of 162%. If it lands between 1.4400 and 1.4380 you just made 162% (2 x 81%) but one of the trades will win no matter what it does so the most you will be out is the...

Johnny


Congratulations on your phenomanal two-month return !

Would you mind sharing which 2 MAs you are using ?


BTW, my nickname is JonnyD, but of course my username is 82nd, due to my status as a ex-paratrooper.

Hurrahh

Thanks Amigo
Quoting 82nd
Johnny


Congratulations on your phenomanal two-month return !

Would you mind sharing which 2 MAs you are using ?


BTW, my nickname is JonnyD, but of course my username is 82nd, due to my status as a ex-paratrooper.

Hurrahh...
Just a 7 and 14 smoothed. That's it for indicators that I use, other than those my chart is bare. I primarily trade hourly patterns, though I do use the MA's for additional confirmation and sometimes solely if none of my patterns are showing up and I see an opportunity.
Quoting JohnnyGURU
Just a 7 and 14 smoothed. That's it for indicators that I use, other than those my chart is bare. I primarily trade hourly patterns, though I do use the MA's for additional confirmation and sometimes solely if none of my patterns are showing up and I see an opportunity.
Thanks a million for the quick reply !

Any particular stick patterns you're focusing on ?

I have a listing of highest probability stick patterns, although I doubt it would be of much use to you given your % gain
Hi guys, anyone here trade with ig, they have daily and monthly one touch binaries as well. They give you another dimension to your binary trading as the underlying only has to hit your price once to give you your maximum win. You can also close them out early for a reduced win/loss.

All the best
London: New York: Tokyo - but mostly Rangiora
Quoting doobs
Hi guys, anyone here trade with ig, they have daily and monthly one touch binaries as well. They give you another dimension to your binary trading as the underlying only has to hit your price once to give you your maximum win. You can also close them out early for a reduced win/loss.

All the best
I thought IG Markets owned Nadex and offered binary option trading through them?

Also, why isn't IG Markets accepting any more new customers?
Quoting JohnnyGURU
With that being said I wish Nadex would refine their binaries to one hour only instead of two and expand them to not only be over the US session. I would use them exclusively if they did that but they don't so I use these other guys.
I could live with a compromise, with them continuing to offer the two-hour binaries and having them available throughout the trading day and not just during the U.S. session.
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
Quoting southernmind
I thought IG Markets owned Nadex and offered binary option trading through them?

Also, why isn't IG Markets accepting any more new customers?
hey southernmind, yeah IG do own Nadex. They do have their own platfom as well though and I trade the one touch options with them. Did read somewhere though that IG were shutting down their US operation,

(apart from Nadex) so I guess thats why they're not taking on US accounts directly.

good trading
London: New York: Tokyo - but mostly Rangiora
Quoting doobs
hey southernmind, yeah IG do own Nadex. They do have their own platfom as well though and I trade the one touch options with them. Did read somewhere though that IG were shutting down their US operation,

(apart from Nadex) so I guess thats why they're not taking on US accounts directly.

good trading
AHHHHHH.....now I have seen the light. Thanks for the reply.

I wonder why they haven't offered the one-touch option on Nadex yet?
Quoting southernmind
AHHHHHH.....now I have seen the light. Thanks for the reply.

I wonder why they haven't offered the one-touch option on Nadex yet?
yeah mate, it was the deciding factor for me in choosing between the two of them.
anyway best of luck
London: New York: Tokyo - but mostly Rangiora
Quoting 82nd
Thanks a million for the quick reply !

Any particular stick patterns you're focusing on ?

I have a listing of highest probability stick patterns, although I doubt it would be of much use to you given your % gain
I would need a whole new thread to describe my entire strategy and it is loosely based, lots of factors go into deciding whether to make a trade, all I can really say is time is your biggest ally, I've been trading every day for almost 2 1/2 years now and am just recently making my way, it takes a lot of watching under all kinds of market conditions for me to finally have a better than average opinion of what the market will do next. One thing I have learned for myself that is probably contrary to what many people say is I do not under any circumstances trade during the US open. From 8:00 A.M. Eastern till 12:00 P.M. I'm out. Lots of people will say this is the best time, the best liquidity, but for me no dice. I went months in the past without a single losing day only to lose most of it back over one US open session. Just my opinion, some may be able to trade during this time but it is just a crap shoot for me and usually a losing one.

I agree Kapital, I could deal with the two hour binaries over more sessions with Nadex, I would prefer one hours but I could do two I suppose, but they only offer them over my most hated session so I don't use them too much anymore.
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