IGindex discussion thread
Discussion
[from www.pistonheads.com/gassing/topic.asp?h=0&t=386355&d=9990.48900 ]
I really don't know TBH.
Definately not at the moment as i just don't have cash that i can afford to lose
that's the problem - you should only use money you're willing to lose.
as such, for me £200 is ok, £2000 would make me wince a lot unless I had made £10k previously. I think the only way forward is a longterm game, slowly building a couple of thousand from the money I've deposited.
hedders said:
shadowninja said:
but do you have the balls to bet enough to gain that?
I really don't know TBH.
Definately not at the moment as i just don't have cash that i can afford to lose
that's the problem - you should only use money you're willing to lose.
as such, for me £200 is ok, £2000 would make me wince a lot unless I had made £10k previously. I think the only way forward is a longterm game, slowly building a couple of thousand from the money I've deposited.
Edited by shadowninja on Wednesday 9th May 17:02
Agreed, I wanted to see if i could turn £20 into £30 over a month or two making ten and twenty pence bets.
If i can do that i will then maybe consider increasing my pot to £200 and try turning that into £300. If i do that succesfully and have not had a heart attack Maybe I'll risk more
I can't believe how exciting it is even when just palying though! I can see how you could get in too deep..
If i can do that i will then maybe consider increasing my pot to £200 and try turning that into £300. If i do that succesfully and have not had a heart attack Maybe I'll risk more
I can't believe how exciting it is even when just palying though! I can see how you could get in too deep..hedders said:
Agreed, I wanted to see if i could turn £20 into £30 over a month or two making ten and twenty pence bets.
If i can do that i will then maybe consider increasing my pot to £200 and try turning that into £300. If i do that succesfully and have not had a heart attack Maybe I'll risk more I can't believe how exciting it is even when just palying though! I can see how you could get in too deep..
If i can do that i will then maybe consider increasing my pot to £200 and try turning that into £300. If i do that succesfully and have not had a heart attack Maybe I'll risk more
I can't believe how exciting it is even when just palying though! I can see how you could get in too deep..hmmm! too right. it's dangerous.
not sure i'd bother wasting time with making £10 over a month, though! that said, at least while you're learning how to use the trading system you won't make mistakes. you could have lost £40 earlier.
Very important to rmember what your exposure is here.. For example.
£10 per point on the FTSE, doesn't seem like a lot when you're thinking I'm only looking for a couple of points movement, however all it takes is for the market to shift 40 - 50 points the wrong way and you are down £400 - £500.
Basically don't get greedy, always work out how much you are exposed for and set stop losses and stick to them, there's always 'another trade another day' - it's too easy to get emotionally attached thinking 'this is going to be the big one!' - It doesn't happen often. Small profits here and there is the way forward.
DJC - questions I wanted to ask you -
1.) How much are you leveraged up at any one point?
2.) Do you use stop losses. If so do you use guaranteed stop losses
3. How long have you been doing this for
4.) What's the biggest loss you have made
5.) What's the biggest gain you have made
6.) How much on average do you make from SB'ing a month (if you don't mind me asking)
Anyone think 10p a point of GBP/USD would be a good idea, given the interest decision tommorow.??
£10 per point on the FTSE, doesn't seem like a lot when you're thinking I'm only looking for a couple of points movement, however all it takes is for the market to shift 40 - 50 points the wrong way and you are down £400 - £500.
Basically don't get greedy, always work out how much you are exposed for and set stop losses and stick to them, there's always 'another trade another day' - it's too easy to get emotionally attached thinking 'this is going to be the big one!' - It doesn't happen often. Small profits here and there is the way forward.
DJC - questions I wanted to ask you -
1.) How much are you leveraged up at any one point?
2.) Do you use stop losses. If so do you use guaranteed stop losses
3. How long have you been doing this for
4.) What's the biggest loss you have made
5.) What's the biggest gain you have made
6.) How much on average do you make from SB'ing a month (if you don't mind me asking)
Anyone think 10p a point of GBP/USD would be a good idea, given the interest decision tommorow.??
never linked the two but i've been getting that spam for a while. 
oh, you can't set stop losses. it kinda bounces down to 0 or up to 100 until the market changes direction or the day ends... then you lose that amount. so if you follow his advice, and bought at 90, you could lose 90 x £YourBetPerPoint.
oh, you can't set stop losses. it kinda bounces down to 0 or up to 100 until the market changes direction or the day ends... then you lose that amount. so if you follow his advice, and bought at 90, you could lose 90 x £YourBetPerPoint.
shadowninja said:
never linked the two but i've been getting that spam for a while.
oh, you can't set stop losses. it kinda bounces down to 0 or up to 100 until the market changes direction or the day ends... then you lose that amount. so if you follow his advice, and bought at 90, you could lose 90 x £YourBetPerPoint.
oh, you can't set stop losses. it kinda bounces down to 0 or up to 100 until the market changes direction or the day ends... then you lose that amount. so if you follow his advice, and bought at 90, you could lose 90 x £YourBetPerPoint.
I guess if you were able to set limits and stops on these deals you could really clean up ?
BTW what is that happens at about 1:00pm that stops you from making any trades, anyone?
So can you guys offer any sort of visibility on how you can beat the market with this? To me it just looks (as NorthernBoy was saying) that MOST of the time, you're going to win the £200 - however, when you do get stung (and the balance of probability says you will), you will lose big and wipe out all your gains.
Still sounds like fun if you've got some spare cash and time though....
Not doing too badly so far. Started off last Wednesday with an opening £10 & since upped that to £130 deposit in total.
And in that time, I've made £50 & some coppers. Mainly by Gold (and once, Silver) binaries and also a quick play on the ftse yesterday which if I'd closed at the right time would've seen me £40 up on the deal. Instead, I went out to meet an estate agent at my Fiancee's and it clattered down & hit the stop loss so I ended up making a few pennies loss. But at least the stop loss worked. And I did make £21 on gold at the same time
It's an area I find interesting & I'd like to know more about what drives the markets. Eg, the interest rate announcement today is likely to do what to the ftse & other indices?
El Presidente Blair stepping down... how will the market view that? And so on... I wonder if there's a Dummies Guide to losing your shirt on the Stock Exchange?
And in that time, I've made £50 & some coppers. Mainly by Gold (and once, Silver) binaries and also a quick play on the ftse yesterday which if I'd closed at the right time would've seen me £40 up on the deal. Instead, I went out to meet an estate agent at my Fiancee's and it clattered down & hit the stop loss so I ended up making a few pennies loss. But at least the stop loss worked. And I did make £21 on gold at the same time
It's an area I find interesting & I'd like to know more about what drives the markets. Eg, the interest rate announcement today is likely to do what to the ftse & other indices?
El Presidente Blair stepping down... how will the market view that? And so on... I wonder if there's a Dummies Guide to losing your shirt on the Stock Exchange?
Pot Bellied Fool said:
Not doing too badly so far. Started off last Wednesday with an opening £10 & since upped that to £130 deposit in total.
And in that time, I've made £50 & some coppers. Mainly by Gold (and once, Silver) binaries and also a quick play on the ftse yesterday which if I'd closed at the right time would've seen me £40 up on the deal. Instead, I went out to meet an estate agent at my Fiancee's and it clattered down & hit the stop loss so I ended up making a few pennies loss. But at least the stop loss worked. And I did make £21 on gold at the same time
And in that time, I've made £50 & some coppers. Mainly by Gold (and once, Silver) binaries and also a quick play on the ftse yesterday which if I'd closed at the right time would've seen me £40 up on the deal. Instead, I went out to meet an estate agent at my Fiancee's and it clattered down & hit the stop loss so I ended up making a few pennies loss. But at least the stop loss worked. And I did make £21 on gold at the same time
£21 on a binary seems pretty good if you only have a total £130 to play with, how do the figures break down on that?
I am assuming you have a maximum bet allowance of about £1.50 a point so you must have made about 13 points on the one transaction.
hedders said:
£21 on a binary seems pretty good if you only have a total £130 to play with, how do the figures break down on that?
I am assuming you have a maximum bet allowance of about £1.50 a point so you must have made about 13 points on the one transaction.
I am assuming you have a maximum bet allowance of about £1.50 a point so you must have made about 13 points on the one transaction.
Yup, the balance available to use as deposit was a bit more than £130 by then thanks to the previous couple of days. I took a bit of a flyer as I was going out & took it at 81 @£1.50. (So the required deposit was £121.50, but some of my available deposit was tied up with the ftse position that I still had open).
Fortunately it paid off, less fortunately, I lost a couple of quid as I was demo-ing the software to my Fiancee & without thinking, closed it out at 95 rather than letting it expire, where I would've got the 100. Plonker error but that's why I'm playing around with it, learning the interface & so on.
Well, I seem to be grasping the basics atleast.
I am still not sure about a few things , I thought you were supposed to try and close the deal before the buy price gets to 100 but you are saying you would just let it 'bingo' out while the bet is still running?
Currently i have been selling at around 94 due to this...
I am still not sure about a few things , I thought you were supposed to try and close the deal before the buy price gets to 100 but you are saying you would just let it 'bingo' out while the bet is still running?
Currently i have been selling at around 94 due to this...
hedders said:
I am still not sure about a few things , I thought you were supposed to try and close the deal before the buy price gets to 100 but you are saying you would just let it 'bingo' out while the bet is still running?
Currently i have been selling at around 94 due to this...
Currently i have been selling at around 94 due to this...
Yes, you're diddling yourself
If it's a 'normal' bet then you might want to close out when nerve runs out or you think that the fortunes of whatever you've bet on might reverse but with a binary bet, the whole point is that it will close at either 100 or 0.
So if you think that you're right in your bet, let the bet expire (it will automatically close about 16:30 iirc for Gold binaries) and you then get the maximum payout. Of course, if the market suddenly reverses and gold doesn't finish up (assuming that's what you were betting on) then it closes at 0 and you lose a fair chunk.
So what you're doing would be ok if you felt that there migth be a last minute reversal of fortunes, otherwise leave it to expire to get the full benefit of the BINARY close.
DJC's initial gameplan was based around the stability of the Gold/Silver market and if you could get it in the early 90's towards the end of the day then it was unlikely to change direction and by letting it expire to 100 (hopefully) enables you to 'skim off the top' as it were.
Taking a position either earlier in the day, at a lower price, increases the potential payout but also leaves it more likely that the market may flip & go the other way in which case the binary finishes at 0 and it's time to bend over...
hedders said:
Thanks very much 
Thats going to make life a little easier!!
When the buy price reaches 100, the sell price is still 6 points behind that but you are saying you get paid out based on the full 100 anyway?
Thats going to make life a little easier!!
When the buy price reaches 100, the sell price is still 6 points behind that but you are saying you get paid out based on the full 100 anyway?
Yes, because it's a binary bet, it settles at 100 (so long as the binary condition of commodity=up or commodity=down is in your favour of course).
If it was a normal bet then it would settle at the buy price.
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