IGindex discussion thread
Discussion
It is and it isn't I suppose, binaries are more gambling than standard spread betting.
For standard spread betting though there is hardly any difference...
For example (very simplified)
Share A - Bid - 304p
Offer - 302p
you buy 10,000 shares at 304p - cash value £30,400
you're commision is £9.95, plus your stamp duty, PTM levy etc. If you were to sell straight away then your holding would worth say £30,200 minus all your dealing costs. If the share price falls your shares are worth £100 less for every point they fall and £100 more every point they rise.
Then you pay tax on any gains you make, and stamp duty and dealing cost again.
Take out a spread bet at £100 a point and the only costs are in the spread so if the spread is 300 to 302 then the trade has cost you £200.
No tax, PTM, commision to brokers etc etc.
Difference is you can expose yourself to £30,200 of liability with a very small deposit, whereas you would need the cash if you actually bought the shares. Where people f*ck up is by overextending themselves and getting greedy, one day it'll go wrong and they're left with a massive loss.
The trick is discipline, discipline and discipline.
All IMO, DYOR etc etc
For standard spread betting though there is hardly any difference...
For example (very simplified)
Share A - Bid - 304p
Offer - 302p
you buy 10,000 shares at 304p - cash value £30,400
you're commision is £9.95, plus your stamp duty, PTM levy etc. If you were to sell straight away then your holding would worth say £30,200 minus all your dealing costs. If the share price falls your shares are worth £100 less for every point they fall and £100 more every point they rise.
Then you pay tax on any gains you make, and stamp duty and dealing cost again.
Take out a spread bet at £100 a point and the only costs are in the spread so if the spread is 300 to 302 then the trade has cost you £200.
No tax, PTM, commision to brokers etc etc.
Difference is you can expose yourself to £30,200 of liability with a very small deposit, whereas you would need the cash if you actually bought the shares. Where people f*ck up is by overextending themselves and getting greedy, one day it'll go wrong and they're left with a massive loss.
The trick is discipline, discipline and discipline.
All IMO, DYOR etc etc
DJC said:
shadowninja said:
Don't stoplosses protect you?
Yes. I started off doing the market, but now totally binaries. The markets require too much analysis and constant monitoring to make worthwhile.
I can see that, but with the lack of a stop loss with binaries, I'm monitoring the price even more!
Just in case there are any of the more 'experienced' chaps hanging around... is there any reason why you use IG Index and not either of the other binary providers? In my research I've found a couple of others that offer binaries (not just standard spread-betting):
www.cityindex.co.uk/binary_betting.html
www.binarybet.com/
I haven't signed up to any of them yet, but I'm womdering if it's an idea not to follow the herd - if we all start putting stuff on the same contracts in the same kind of way from the same provider, surely they'll twig it sooner or later and I don't want to ruin the party!
www.cityindex.co.uk/binary_betting.html
www.binarybet.com/
I haven't signed up to any of them yet, but I'm womdering if it's an idea not to follow the herd - if we all start putting stuff on the same contracts in the same kind of way from the same provider, surely they'll twig it sooner or later and I don't want to ruin the party!
gizmo.mp3 said:
Just in case there are any of the more 'experienced' chaps hanging around... is there any reason why you use IG Index and not either of the other binary providers? In my research I've found a couple of others that offer binaries (not just standard spread-betting):
www.cityindex.co.uk/binary_betting.html
www.binarybet.com/
I haven't signed up to any of them yet, but I'm womdering if it's an idea not to follow the herd - if we all start putting stuff on the same contracts in the same kind of way from the same provider, surely they'll twig it sooner or later and I don't want to ruin the party!
www.cityindex.co.uk/binary_betting.html
www.binarybet.com/
I haven't signed up to any of them yet, but I'm womdering if it's an idea not to follow the herd - if we all start putting stuff on the same contracts in the same kind of way from the same provider, surely they'll twig it sooner or later and I don't want to ruin the party!
A friend pointed me in their direction. So Ive been using IG.
I have plans however to fully utilise the other companies. Im developing an overall strategy. Please dont forget, I already have 100 customers spread across 2 Funds doing this. I am setting a 3rd Fund up that utilises one of the other companies...gives us all free(ish) money actually
that should provide a Fund of around £7k to play with. If anybody wants in, let me know. Before anybody yells scam or no such thing as free money, I know, of course there isnt. Of course it involves working the system and manipulating it to our advantage and absolutely exploiting them.
DJC said:
gizmo.mp3 said:
Just in case there are any of the more 'experienced' chaps hanging around... is there any reason why you use IG Index and not either of the other binary providers? In my research I've found a couple of others that offer binaries (not just standard spread-betting):
www.cityindex.co.uk/binary_betting.html
www.binarybet.com/
I haven't signed up to any of them yet, but I'm womdering if it's an idea not to follow the herd - if we all start putting stuff on the same contracts in the same kind of way from the same provider, surely they'll twig it sooner or later and I don't want to ruin the party!
www.cityindex.co.uk/binary_betting.html
www.binarybet.com/
I haven't signed up to any of them yet, but I'm womdering if it's an idea not to follow the herd - if we all start putting stuff on the same contracts in the same kind of way from the same provider, surely they'll twig it sooner or later and I don't want to ruin the party!
A friend pointed me in their direction. So Ive been using IG.
I have plans however to fully utilise the other companies. Im developing an overall strategy. Please dont forget, I already have 100 customers spread across 2 Funds doing this. I am setting a 3rd Fund up that utilises one of the other companies...gives us all free(ish) money actually
that should provide a Fund of around £7k to play with. If anybody wants in, let me know. Before anybody yells scam or no such thing as free money, I know, of course there isnt. Of course it involves working the system and manipulating it to our advantage and absolutely exploiting them.
Drop the scam thing! I meant when I read the first post on this, it's clear its not a scam.
It's interesting stuff
Edited by SuperKartracer on Saturday 12th May 08:00
Well I put £1K in on Monday and am now £360 up, £5 a point on Gold and Silver every day. Its working well so far, if I can get to £1K profit without it going tits up I'll be happy. Take back my original stake and play for free after that, have to say I am very impressed with it, cheers DJC.
DJC said:
Always, always, always exercise patience. I have found there is only one way to learn this...lose money.
DJC said:
The binaries have human characteristics. ... The hourly binaries and 20mins also have quirks of personality, such as last minute changes of direction and despite spending 99% of the time one way, will flip in the last minute.
How true. I just got slapped by an hourly ftse that completely flipped in the minute before close. Ouch. That wiped out a lot of my previous gains so need to take a bit more care methinks! Lesson learnt.
Edited by Pot Bellied Fool on Friday 11th May 13:10
cerbfan said:
Well I put £1K in on Monday and am now £360 up, £5 a point on Gold and Silver every day. Its working well so far, if I can get to £1K profit without it going tits up I'll be happy. Take back my original stake and play for free after that, have to say I am very impressed with it, cheers DJC.
OK I'm thick.... that are you guys looking at?
Hourly binaries/no gold in here?
Binary commodities/gold+Silver - this seems to run all day?
Gold was @ 85/91 on the rise 5 mintues ago then fell to 71/80 odd, I guess you are waiting for it to hit say 90/95 before it hits 100 and ends right?
Cheers
Hourly binaries/no gold in here?
Binary commodities/gold+Silver - this seems to run all day?
Gold was @ 85/91 on the rise 5 mintues ago then fell to 71/80 odd, I guess you are waiting for it to hit say 90/95 before it hits 100 and ends right?
Cheers
superkartracer said:
OK I'm thick.... that are you guys looking at?
Hourly binaries/no gold in here?
Binary commodities/gold+Silver - this seems to run all day?
Gold was @ 85/91 on the rise 5 mintues ago then fell to 71/80 odd, I guess you are waiting for it to hit say 90/95 before it hits 100 and ends right?
Cheers
Hourly binaries/no gold in here?
Binary commodities/gold+Silver - this seems to run all day?
Gold was @ 85/91 on the rise 5 mintues ago then fell to 71/80 odd, I guess you are waiting for it to hit say 90/95 before it hits 100 and ends right?
Cheers
ignore the hourly binaries. it's the binary commodities.
in theory it will reach 95/100 so you have to buy on the way up or hold on tight if it drops a bit before rising again. OTOH it could just plummet. no guarantees.
Gassing Station | Business | Top of Page | What's New | My Stuff