Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

the Set and Forget Pivot Net system 323 replies

DOC Strategy - Set and Forget! 94 replies

Set and Forget Outcomes! 1 reply

Set It And Forget It 5 replies

Set it & Forget it GBP and CHF signals... 6 replies

Attachments: 5% every 24 hours using set and forget - £200 into £1797!
Exit Attachments

5% every 24 hours using set and forget - £200 into £1797!

Quoting bjn201
Yep it is a Bank holiday... ive got a no touch expiring on monday eve on the eur/gbp, hopefully nothing major comes out...

Also the options, are they actual options? cause on other SB firms they allow you to spread bet the value of the option, so its not actually an option just SB the underlying basically.
No, not actual options, but spread betting on the underlying, although one big advantage of course is that the maximum exposure is known at the outset and price can move against you and back into profit again if you allow sufficient time before option expiry

IG also offer quarterly options bets (currently June and September) on the currency majors
Hi Ben!

OK. Seem like BOM binary pattern is similar to IG Market. Could you please post some of your past trading result here such as entry binary price, forex price at the moment you entry & outcome.

By the way, have you tried to use statistics for your trading? Statistics help you with the probability. So could determine how to buy the binary. I used to trade this but there is an issue.

Binary price will adjust accordingly based on past period of VIX movement. Therefore, next period of binary price could alter such as the distant for respective binary price is changed if compare to previous period case. So if the case like trend turns into ranging style or turn into low volatile movement. This could probably lose the trade = lose the cost of binary.
Quoting Andy B
No, not actual options, but spread betting on the underlying, although one big advantage of course is that the maximum exposure is known at the outset and price can move against you and back into profit again if you allow sufficient time before option expiry

IG also offer quarterly options bets (currently June and September) on the currency majors
Ahh ok. i think i tried to open an IG account a while back but didnt have enough capital i think. hopefully they will let me now haha. I know they are one of the oldest SB firms, i would rather be with them then BOM which is like some others and based out of gibraltar or malta due to gambling laws... bit dodgey.

Anyway, I think the main thing we need to focus on is sorting out an optimal way of hedging, preferably using an instrument that has a fixed cost/loss on the outset.
How else do you guys trade?
Quoting Fx2ProTrader
Hi Ben!

OK. Seem like BOM binary pattern is similar to IG Market. Could you please post some of your past trading result here such as entry binary price, forex price at the moment you entry & outcome.

By the way, have you tried to use statistics for your trading? Statistics help you with the probability. So could determine how to buy the binary. I used to trade this but there is an issue.

Binary price will adjust accordingly based on past period of VIX movement. Therefore, next period of binary price could alter such as the distant for...
Unfortunately I haven't recorded anything down really as only just getting started with all this, however I have some information about my past 3 trades:


2-May-12 11:26:50 GBP 550 payout if USD/CAD does not touch 0.994 before close (23:59:59 GMT) on 3-May-12. Cost: 499.36
Profit:50.64

3-May-12 19:47:34GMT75365485 GBP 1,000 payout if EUR/GBP does not touch 0.8194 before close (21:00:00 GMT) on 4-May-12. cost: 954.41
Profit: 45.69

3-May-12 16:08:42GMT75360585 GBP 605 payout if EUR/GBP does not touch 0.8182 before close (21:00:00 GMT) on 4-May-12. Cost 50.64
Profit: 54.36

Might help slightly!

Another idea I had was to wait for the price to move 50+ pips from the London open, and then once this has happened open a no touch trade against the direction... using this strategy we are betting that the currency has made its move already (possibly wait until midway through the US) and then you will get a better level that is further away when the usual retracement happens.
Great thoughts.. just worried that the nature of price could easily whipsaw your hedge trade if too tight, and still touch the binary level within 24 hrs.. so you'd lose basically all your capital I think?
Quoting bjn201
Ahh ok. i think i tried to open an IG account a while back but didnt have enough capital i think. hopefully they will let me now haha. I know they are one of the oldest SB firms, i would rather be with them then BOM which is like some others and based out of gibraltar or malta due to gambling laws... bit dodgey.

Anyway, I think the main thing we need to focus on is sorting out an optimal way of hedging, preferably using an instrument that has a fixed cost/loss on the outset.
How else do you guys trade?
You're right to be wary, I had an account with Worldspreads which of course went belly up recently, fortunately within the FSA insured limit

IG are a FTSE 250 company and very well established, probably one of the safest UK spreadbetting outfits
Quoting Sim
Great thoughts.. just worried that the nature of price could easily whipsaw your hedge trade if too tight, and still touch the binary level within 24 hrs.. so you'd lose basically all your capital I think?
Yep thats the main problem. However its all about trying to find low volatility pairs/minimising exposure to the more volatile trading sessions.

in terms of the hedging problem, I think what we have come up with is to use binary options and/or some other type of fixed bet as a hedge: this will eliminate the possibility of whipsaws, however the pricing of the hedge bet must be such that the original no touch bet still draws a profit.

Over the last 45 days I have rarely had to use the hedge so normally the hedge is not even needed. if the hedge is not needed 80% of the time, then technically we could make a small loss on that day by hedging say 70-80% of the value of the no touch bet, if we were unable to perfectly hedge it, and would still make a profit overall in the long run.

What are your thoughts on avoiding the whipsaws/hedging?
Quoting Sim
Great thoughts.. just worried that the nature of price could easily whipsaw your hedge trade if too tight, and still touch the binary level within 24 hrs.. so you'd lose basically all your capital I think?
The reverse strategy may work better - look for the binary priced at 5-10 points, buying at 5 and closing at 100 means you only need to be right 10% of the time to make a healthy profit, 24 hours is not a long period though so better to find trades with a longer lifespan, this is similar to buying out-of-the-money options of course
Quoting Andy B
The reverse strategy may work better - look for the binary priced at 5-10 points, buying at 5 and closing at 100 means you only need to be right 10% of the time to make a healthy profit, 24 hours is not a long period though so better to find trades with a longer lifespan, this is similar to buying out-of-the-money options of course
Yep in terms of profit, risk reward, probability it is definitely superior, however it does require you to be quick/watching the screen at those volatile periods, which could mean not very consistent income i guess. Drawdowns will be very low/nill however.

One thing i am very interested in doing is the straddle trades, i am wary of taking a direction in the market, doubting my ability to get it right!
Quoting bjn201
Yep thats the main problem. However its all about trying to find low volatility pairs/minimising exposure to the more volatile trading sessions.

in terms of the hedging problem, I think what we have come up with is to use binary options and/or some other type of fixed bet as a hedge: this will eliminate the possibility of whipsaws, however the pricing of the hedge bet must be such that the original no touch bet still draws a profit.

Over the last 45 days I have rarely had to use the hedge so normally the hedge is not even needed. if the...
I get you, but not sure if my brain is sizzling lol because it seems like doing the same thing with a smaller spread betting trade, and we can still run into the same problem?
Quoting Andy B
The reverse strategy may work better - look for the binary priced at 5-10 points, buying at 5 and closing at 100 means you only need to be right 10% of the time to make a healthy profit, 24 hours is not a long period though so better to find trades with a longer lifespan, this is similar to buying out-of-the-money options of course
Yep that's exactly what my mate does, risks a grand or so at a time and when he wins he wins big... BUT

this guy can trade, and his natural style is to wait and be good at predicting decent breakouts!
Manage to trade in proper risk to rewards ratio is crucial. This is the point to earn consistent profit instead of drawdown too much but still is an earnings in the end.

Below is one of my past method
I used to trade binary with high cost(high risk) less rewards before the expire of contract. Maybe 1 min before expire. Anid this is always high probability trade and i win about 80% of total trades. But if lose a trade ,it could be costly. Therefore, this is not recommended.

Another method here
Buy in binary ladder and hedging order (For triggered) in the beginning of contract (contract just release open for trading). Then set and forget it. No need to monitor it. This method required to comply with statistics analysis, which i created a system to calculate this. And judge the result and probability.
Hee mate.

Just was made aware of you starting this thread.
Will look into it and post my reactions to it.

Talk soon.
Quoting bjn201
Why have I been moved to commerical forum?! This is a trading system that i am not selling!!
Mate, get used to that.

Some people just cannot stand one making money and then move you to this commercial forum section

Look at it this way:
Here the professionals hang out that know how to make real money.
Everywhere else you will find the whiners that keep jumping from system to system and will NEVER make it !!!!!

NOW, let me read thru your thread, hahahahahaha
Okidoki, Ben, I think I got the idea.

Personally I see this whole forex stuff I have been doing for so many years now slowly go down the drain.
Either by cheating and scamming by brokers, otherwise by government regulators everywhere.

So I started a few days ago getting educated in primarily BOT (Binary Option Trading), also have another plan in mind, but not relative here.

There are tons of these BOT brokers around, one offers more incentives as the other, which already is a VERY dangerous thing. Almost EVERYBODY seems to forget, that the so called deposit bonusses also carry small lettering conditions. So you think you are trading your ass off and expect to get money out, till you ask for payout and you get hit with the fact you have not complied with their requirements.

It is DEFINITELY NOT true that money cannot be made trading the M1.
If you read my other posts around FF, I think I have mentioned that tick times. M1 is noise trading, lol, is like a bus that passes by about every so many minutes, so I can trade at ANY time of the day and make profits.

Getting back to your style.

I personally would not hedge that easily. Done that stuff in the past, and basically hedging is done on different instruments, not exactly in the same.
True, true, I also call it the same, easier to use in a chat.
But I understand you are taking a counter trade and hope for the best.

Allow me to mention here, it is NOT necessary to bet in trading, whatever the instrument is.
If you are in touch with what you do in your business, you develop a feeling for what is the right and the wrong way.

So far my reactions on your interesting endeavor.
Quoting Fx2ProTrader
Manage to trade in proper risk to rewards ratio is crucial. This is the point to earn consistent profit instead of drawdown too much but still is an earnings in the end.

Below is one of my past method
I used to trade binary with high cost(high risk) less rewards before the expire of contract. Maybe 1 min before expire. Anid this is always high probability trade and i win about 80% of total trades. But if lose a trade ,it could be costly. Therefore, this is not recommended.

Another method here
Buy in binary ladder and hedging order (For...

i am interested in both methods, could you please give some further details? especially about the 2nd method.

thanks,
Ben
Quoting Freddyfx
Okidoki, Ben, I think I got the idea.

Personally I see this whole forex stuff I have been doing for so many years now slowly go down the drain.
Either by cheating and scamming by brokers, otherwise by government regulators everywhere.

So I started a few days ago getting educated in primarily BOT (Binary Option Trading), also have another plan in mind, but not relative here.

There are tons of these BOT brokers around, one offers more incentives as the other, which already is a VERY dangerous thing. Almost EVERYBODY seems to forget, that...

Of course m1 trading can be profitable, its just for me it hasnt been so far, abit hit and miss. What kind of trading methods/systems do you use for trading the m1?

Yes you need to avoid deposit bonuses! they are there to entice you in and wouldnt be there unless it was profitable to the broker.

Yeah the "hedge" is very arbitrary, and you do raise an interesting idea, buy a no touch on one pair and a touch on another similar pair such that it is hedged? e.g. no touch on eur/gbp, touch on eur/usd. You cant do it on the same pair because obviously the odds/spread are designed so you cant hedge perfectly!

The main drive of this thread I think should be towards finding and implementing a suitable "hedge" for the no touch level trade, the no touch level trade is high probability of low gain (much like selling/writing options) but potentially big loss, which we need to hedge either synthetically (using BOT/others) or buying the underlying (trading). I have a preference to fixed odds hedges since I dont want the added risk of having to deal with a SL etc.

Keep the ideas flowing,

Ben
Quoting bjn201
i am interested in both methods, could you please give some further details? especially about the 2nd method.

thanks,
Ben

Example:
According to my statistics analysis, i know that EURUSD at 1.32 is maybe 60% probability for price to be hit. So I buy weekly EURUSD binary ladder at 1.32(Above 1.32 is my earning conditions) at the opening of this contract. I will set an entry order at 1.32(Hedging/opposite position) for automated triggered by the market price. At the same time, i will set target & stop loss order for the hedging position order as well after i have done some calculation about breakeven price and earning price. Next, let the price to be hit by the market and collect the result after the contract is expiry or end of the week.

Additional skill add here. Using leverage to trade either the position (Binary or hedging position), in order to reduce the breakeven/stop loss distant price.
This provides high opportunity for earning.

I would like to post a screenshot here about the statistics analysis (My personal created system)

*Important: Discipline = Require to trade all game and standardize format of strategy in order to gain your profit
Attached Image (click to enlarge)
Click to Enlarge Name: Statistics Distant.jpg Size: 273 KB
Quoting Fx2ProTrader
Example:
According to my statistics analysis, i know that EURUSD at 1.32 is maybe 60% probability for price to be hit. So I buy weekly EURUSD binary ladder at 1.32(Above 1.32 is my earning conditions) at the opening of this contract. I will set an entry order at 1.32(Hedging/opposite position) for automated triggered by the market price. At the same time, i will set target & stop loss order for the hedging position order as well after i have done some calculation about breakeven price and earning price. Next, let the price to be hit by the market...
Very impressive statistical analysis Fx2pro. its all about getting on the side with the most probability and in the long run you will be profitable.

So your system: you set a level that is high probability by your statistical analysis, and if price goes above this, happy days.

However you set entry for sell/buy trade at the same level in the opposite direction to the level (ladder), to "hedge" in case the price goes up hits your level and comes back down, am i correct?
Quoting bjn201
Very impressive statistical analysis Fx2pro. its all about getting on the side with the most probability and in the long run you will be profitable.

So your system: you set a level that is high probability by your statistical analysis, and if price goes above this, happy days. .....

You are right! The purpose is to minimize the losing.

Example: 4 Outcomes only
1. Binary - Win game. Hedging - Trigger with win game(Hit target). Result = Win both
2. Binary - Win game. Hedging -Trigger with lose game(Hit stop). <<Additional skill here>>> .Close binary as well. Result = Breakeven
3. Binary - Lose game. Hedging - Trigger with win game(Hit target). Result = Win hedging.
4. Binary - Lose game. Hedging - Not trigger. Result = Lose binary.

Can you imagine lose is small lose but win is big win after done some calculation. And additional skill add here by using leverage to increase the power of one position direction.
0 traders viewing now