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the exile 12:31 Fri Nov 4
Binary Options

Does anybody on here do this? For the benefit of those who have no idea what it is, it's an online method of trading (betting) as to whether, over the space of anything from a minute to a month, the price of a share, a commodity or one currency against another, is going to go up or down.

I've only been doing it a few weeks and it has been a massive learning experience. Yes, I lost a bit of money at first, but I'm playing safe and only trading very small amounts while I learn all about it. I've improved a lot and now winning far more trades than I lose. I think in time it could be a significant way of earning some extra income.

Thing is, it's a world full of scammers and cunts but if you know where to look, and this can take a bit of time, there are plenty of decent sources of guidance. I'd be interested to hear about anyone else's experiences and views.

Ronald_antly 4:35 Fri Nov 4
Re: Binary SPLATT!

Sounds like you're talking about PUT and CALL options.

It's a pity you didn't start prior to September 2001, you could really have CLEANED UP!

Trevor B 5:51 Fri Nov 4
Re: Binary SPLATT!

No, he is talking about Binary Options, as he clearly states.

Cheezey Bell-End 5:58 Fri Nov 4
Re: Binary SPLATT!

Did you start in demo first? Good way to learn without losing money, though the emotional experience is quite different.

Trevor B 6:35 Fri Nov 4
Re: Binary SPLATT!

Binary options are basically the same as placing a bet. you either lose your stake or win a fixed amount, in favour of the house of course.

Sydney_Iron 6:40 Fri Nov 4
Re: Binary Options

With most binary options brokers a bit of investigation reveals that the broker and their associated finance company is the counterparty…………………rather than just the broker, so they have a vested interest in the outcome, be very careful as like the casino the edge they have is small but over time will suck you dry, the catches are Its a 50/50 mathematical odds event with a 45/55 payout. You get the 45 piece of the pie.

Most brokers, are not brokers in the normal sense, they are bookies, taking your bet…….

Ronald_antly 6:47 Fri Nov 4
Re: Binary SPLATT!

Trevor B 5:51 Fri Nov 4

It's true, he does clearly state Binary, but the description sounds similar to the premise of PUT and CALL options, or at least my limited understanding of those things.
If they're quite different, then I apologise unreservedly to you and your family for any distress caused.


I only replied for the sake of a 'SPLATT', anyway.

Trevor B 6:50 Fri Nov 4
Re: Binary SPLATT!

Options are always Put/Call, but Binary Options are nothing like normal options based on an underlying cash/future/physical. As I said below and as Sydney expanded on, you're just a punter placing bets against a bookie.

the exile 2:39 Fri Nov 4
Re: Binary SPLATT!

Thanks for the tips. Yes, the brokers are bastards. I have had to fend off a load of calls from them, trying to get me to invest more - it's hilarious how they try to make out they're your friend and have your best interests at heart, but they are the enemy as far as I am concerned. Yes, I have used a demo, but as you say, it's not the same experience.

Cheezey Bell-End 3:09 Fri Nov 4
Re: Binary SPLATT!

Any spread betting I have done ha been online without talking to anyone. I used to work for IG for 5 years and got to know their platform. My favourite thing is to bet on the Dow in real time, just watching the chart by the minute in a completely unplanned, unorganised way. I once turned 10k into 1m in a fortnight in demo going with momentum.. Unfortunately, when I tried with real money, I blew 1k.

But I'm up for another go with a better understanding and fresh sense of discipline.

whu&eng1 3:36 Fri Nov 4
Re: Binary Options

I'd steer clear of binary trading.

Why don't you look at forex trading instead ? I'm in the process of launching a platform with a good friend, which will provide signals for major currency pairs based on an algorithm that we've developed with a PhD. He has a similar algo in use at several hedge funds.. but we're aiming at the retail end of the market.

I learnt/still learning trading through understanding price action, japanese candlesticks, fibonacci etc. Highly volatile market at the moment obviously with Brexit/US Elections etc etc, so fundamentals will come into play more than technical's like above.

We started up an account on Instagram (which now has a few thousand followers) earlier this year whilst putting different components of the business together where we give trade ideas, market sentiment etc.

WhoMail me if you need help/want to know anything else..

Cheezey Bell-End 3:49 Fri Nov 4
Re: Binary Options

Some useful info on youtube as well.

Mike Oxsaw 5:00 Fri Nov 4
Re: Binary Options

Japanese Candlesticks sound a bit Bukakke.

Just saying, like...

Cheezey Bell-End 5:30 Fri Nov 4
Re: Binary Options

You can get whip sawed by those candlesticks.

Spandex Sidney 5:46 Fri Nov 4
Re: Binary Options

Yes, Binary Options are just betting against someone that will take 100% of your money if you lose and return 72% of your money if you win. Blackjack returns 100% if you win and much more fun.

Forex trading might be a better bet but that's not for the faint hearted

If you insist on Binary, Daweda Exchange offer a peer to peer platform for binary so they take 0.5% (I think) of the bet and just match call with puts so they don't care who wins. A Betfair sort of thing.

Turpinator 6:06 Fri Nov 4
Re: Binary Options

I'd steer clear. It's for professional traders only who have proper technical methods. I've just launched on a platform called Chart IQ which is free. The trade system is called Trading Safely and is designed for trading stocks on daily data, but it's what my professional subscribers trade with on futures , fx, commodities, Index's, bonds etc. It's based on my two books New Methods in Technical Analysis and winner of 2014 technical analysis book of the year Mapping Your Voyage of Discovery. Whomail me or check out www.trading-time.com and www.tradingsafely.com.au

whu&eng1 6:22 Fri Nov 4
Re: Binary Options

Turpinator.. pretty impressive. See whomail.

Sydney_Iron 10:17 Fri Nov 4
Re: Binary Options

As Gank would say, this has fuck all to do with West Ham.

But......................................


Don't be lured into binary options scams

Binary options involve predicting the movements of commodity, asset or index prices over a short time. Although they may be a legitimate financial product with many licenced firms trading in them, binary options are speculative, high risk products that are almost impossible to predict, even for professionals. There are groups of scammers who use binary options to steal your money.

These scammers use high-pressure sales tactics to try and convince you to invest in a trading account, making claims that the system is simple and high profits are guaranteed. If you agree, they direct you to a website with a login, account details and the trading platform. They put your money into the account and demonstrate a number of successful trades to encourage you to invest greater sums of money.

Once invested in the scheme, victims have reported that their money begins to disappear quickly. When they try to withdraw from the scheme, they find it impossible to get their money out of the account. The scammer does everything they can to keep the victim in the program but inevitably they stop taking the victim's calls and, after a short period of time, it is common for the firms to disappear.

If you receive a phone call or see an online ad offering binary trading be very cautious. Do your research on the offer and the company. Don't agree to anything straight away.

How these scams work

You receive a call out of the blue offering a secure investment with fast, high returns. You might also come across these scammers through social media or online ads.

The scammers have professional looking websites to help them appear legitimate, usually with a login process, personalised account details and a trading platform.

The victim invests money into the account and either the victim or an agent attempts to guess whether a particular commodity price will go up or down over short intervals.

If you guess correctly, the account is credited with a small return. If you guess incorrectly, you lose the entire amount placed. The odds are stacked against you so it is very likely that you will lose over time.

When you attempt to withdraw money, you find it almost impossible to do so and often lose the entire investment.

Binary option scammers will also ask for personal information, claiming they need it to transfer money or that it is required for anti-money laundering purposes. Providing this information can leave you open to identity theft.

Sydney_Iron 11:07 Fri Nov 4
Re: Binary Options

whu&eng1 6:22 Fri Nov 4

Was going to whomail you, but for anyone else who may get there radar up………

Be very wary of what Turpinator has posted a link too……its in Oz and I have never heard of this site, not going to says its bullshit (as I don’t know) but………… plenty, if not most out there selling the unachievable dream. The idea is that after going through their course you'll be able to supplement your existing income through trading and its gong to be a piece of cake and most likely only take less than an hour per day. Total fucking bullshit.

As someone who has traded futures for a living, its hard very fucking hard, imagine going to work and not earning any money some weeks or months or longer, then imagine going to work and losing money as well, having no idea of how much you will earn or lose, well that’s just the beginning………all those glossy brochure of people sipping a coffee on there yacht with a carefree smile on there face as they look at there laptop is pure fantasy.

Not saying it can’t be done but those who make it are few and far between, particularly now in the online trading age, instant information and high frequency trading algorithms.

If you do want to trade then forex is as good as any to start small, but just remember you need to be big enough to feel the pain when you lose, don’t fuck about with demos, IMO it wont give you any pain and it’s the fear and pain you will need to overcome if you really want to trade, before you start understand what POSITIVE EXPECTANCY is, as that’s what you want, how many you win or lose is irrelevant to a certain extent, most successful traders win only 40% or less of the trades they place.

Find a decent FX broker, don’t fall for the commission free bollocks, there spread mark ups will see you paying far more, Pepperstone are ok I have heard, as are Interactive brokers, who are probably the best, they have minimums though and fees if you are inactive but this is the firm many professionals use, although Aussies cant use there FX, fucks knows why, I still use them for futures and can say in all the years I have been with them, never had a problem.

Ronald_antly 11:13 Fri Nov 4
Re: Binary Options

Squiddly

I don't like Forex.

I much prefer Fosters.

J.Riddle 12:08 Sat Nov 5
Re: Binary Options

Wise words Sydney, not that I know much about these things. However I did have a look into Binary Options but concluded the same. Odds are better putting your money on red at the roulette wheel or tossing a coin.

I also looked into FX and there seems to be mass of scam brokers and training courses for this also. I am not convinced money can be made trading privately from a home pc considering you will be trading against the large banks and interdealer teams, using arbitrage, algorithms, robots. The more I read up it seemed many were scalping to make it work, but it involved being glued to the screen long hours lots of small margins, can then see the benefit of algorithms, but another kettle of fish.

I have a few questions if anyone can advise, would be very interested thanks.

Even if you use a decent broker what would be best for the novice to trade FX spot, options, futures? Should one hedge as a tactic when possible? What about social copy trading Etoro?Is it possible to get decent honest professional training in a real live trading floor environment without being fleeced, with the exception of learning as you go?

What about social copy trading Etoro?

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