IGindex discussion thread

[shadowninja]

Davi said:

What are the options on this if you have very little time - say only an hour a day? Is it best to forget it, or can you make reasonable gains in that time? Not interested in making my fortune, just trying to brighten my terminally boring day job somehow!

as long as you're not saying "only at lunchtime". the price can rise quickly (I made £60 just now in about 30 minutes) but it may not move for a while (today it was around 1.30pm; yesterday earlier, the day before about 4pm), so you need to be able to check it regularly and when it does move in the chosen direction, act quickly to buy and then sell.

[limpsfield]

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/

Binarybet.com are IG Index.

There are other companies who offer binary bets, such as City Index as you mention above, but IG are accepted to be the market leader in this area, which is a very small (but very interesting) part of the overall spread betting/CFD market in the UK.

[gizmo.mp3]

limpsfield said:

Binarybet.com are IG Index.

I realised that about five minutes after posting... I'm a bit dozy today.

limpsfield said:

There are other companies who offer binary bets, such as City Index as you mention above, but IG are accepted to be the market leader in this area, which is a very small (but very interesting) part of the overall spread betting/CFD market in the UK.

Was just wondering if there was any specific reason; trying to suss it out properly and do my research like a good boy before diving in. Payday's next Tuesday for me, so I'm going to sign up and play with the small stakes for a bit and see where it goes...

[shadowninja]

I was introduced to igindex for normal trading, too. I haven't tried the other ones. I guess providing the bingo event occurs pretty much each day and the spread is 3-5 points then it shouldn't make a difference.

[limpsfield]

This lot are a new entrant

www.choiceodds.com/

But I have not yet looked at the markets they are offering and how they compare to the competition

As far as I know IG were the first traditional spread betting entrant to binary bets - Betfair (who are viewed as a more sports/gee gees type of bookie) offered binaries way back on finanicals like FTSE and Dow but I think it died a death due to poor liquidity although they may still offer them. Betfair was (is) a customer-order driven system whereas everyone else acts as a market maker I think where they company in question (IG, City etc) make the price regardless of volume from clients.

Edited by limpsfield on Friday 11th May 14:57

[hedders]

*HOUSE*

Or am i premature?

[shadowninja]

Shite. it did it twice. I coulda made more.

Got in about 1.30pm. Finished for me about 2pm.

Still, there's only so much Dr Who I can watch. Next week I will have caught up with the latest series, and then I have to wade through the Battlestar Galactica series. This sort of work sucks.

Edited by shadowninja on Friday 11th May 15:53

[hedders]

I am only playing with small money but turned £60 into £74.50 today.

I make that more than a 20% return in a day!

[jamesw2000]

is it possible for this to get to a point where too many people are doing it (binaries on gold) and the money dries up or they stop it?

[hedders]

I don't know but it is an interesting question.

Could you all please stop , just incase.

Ta muchly.

[DJC]

well if you lot want return figures.

My first 3 weeks I turned my £1k stake into £20k.

I lost £15k on the friday morning of the end of the 3rd week before 9am. I made £3k back before the end of Friday.

[Burty88]

DJC said:

well if you lot want return figures.

My first 3 weeks I turned my £1k stake into £20k.

Few questions.

1) Was this just betting at 85 on both silver and gold and at the maximum £/point it would allow?

2) if tactic different to 1) any chance of a quick 1k to 20k (or how to lose 1k very quickly) guide?

3) would you recomend any reading material to brush up on the subject before i start betting any large amounts of money?

Thanks in advance.

[shadowninja]

Burty88 said:

2) if tactic different to 1) any chance of a quick 1k to 20k (or how to lose 1k very quickly) guide?

i suspect this is different and sounds like it's much more risky. also, note how he went from 20k to 5k. that could happen at the start and you could end up out of the game very quickly.

On the plus side, I wouldn't have lost that £15k, cos I wouldn't be awake enough to trade by 9am.

Edited by shadowninja on Saturday 12th May 12:15

[hedders]

shadowninja said:

Burty88 said:

2) if tactic different to 1) any chance of a quick 1k to 20k (or how to lose 1k very quickly) guide?

i suspect this is different and sounds like it's much more risky. also, note how he went from 20k to 5k. that could happen at the start and you could end up out of the game very quickly.

I wouldn't be so sure..

I have done some basic figures based on 20% profit a day. If you start with £1k

After ten days That would be: a pot of about 6k.
After twenty days : 38k
after thirty days : 233k

You would be making £46000 a day at this point!!

Have i got my figures screwed up?

Edited by hedders on Saturday 12th May 12:49

[DJC]

Hedders it doesnt work like that.

I was trading all the binaries...and I still do.

20mins ftse binaries, hourly ftse, wall st and Aussie binaries...yes I am up at 2am... 5min ftse frenzy 4-4.25pm every day, football binaries, rugby union and rugby league binaries, F1.

I lost the £15k because I was a cocky little tt. The first binary of the day is ftse previous settle to 9am. It was something like 15pts down on opening and at something daft like 98.5% and I put £150/pt down. When I got to work at 9am the gap had closed remarkably. I could not stop my position and take a semi huge loss because the pda I had bought had run out of battery because I had got the chargers the wrong way round...2 different usb chargers at home...and so I had to let it run and the binary finished up. I lost the money because I was an idiot.

I will be nothing brutally honest with you guys because if you lot do this, you *will* make mistakes at some pt. You will read a binary wrong, you will bet down when you meant to bet up, you will forget, etc. You *will* make mistakes and ups cost money. You learn!

These days I am a lot more cautious in the positions I take...I have a lot of other ppl's money riding on my judgement now. I have also set my mind so that no matter what is in the kitty I never go above £100/pt and I rarely go that high.

Now then, this morning I have just made £100 on the first half of the So'ton v Derby game. There is by my calcs on the reasonably conservative front, upto £2k to be made this weekend out of the football games, rugby and F1.

You want simple rules to make money this weekend? OK, here goes:

1. Football. Binaries split into both halves. Look and you will see.
2. Only bet on those games updated live, in-running, i.e. what is on live tv.
3. Use the actual score binaries.
4. Leave till injury time, the binary will still be around 94-95% from then.
5. Bet around 2 mins left of injury time, around 97%.
6. Choose your stake, I am currently using £20 or £25 or sometimes £30/pt and making £100-£150 a time.
7. Judge your games. If an end to end job, dont bet. There is always another chance to make money.

F1.

1. Wait till the last 5 laps.
2. Judge the race. If a nailbiter, dont be stupid.
3. Dont be risky. I bet the last race on the last lap at 99% with £50/pt.

Rugby.

More difficult this. Most ppl are scum and therefore dont understand a gentleman's game. It is a result binary, no halves. I would advise you watch the game, know the teams and wait till there is a score difference (+7 pts or +5pts for League. Those of you that are southern dont bother with league, you probably dont know jack shit) and around 70mins gone.

Any questions, advice or asking when to bet Ill be on [e-mail] for msn for most of this weekend. If you contact me dont be a tt or waste my time as this *is* work to me and there is a shedload of money at stake. I am happy to help you guys make some so long as people understand that to make this work you have to treat it like a business.

[hedders]

DJC said:

Hedders it doesnt work like that.

Do you mean my figures are wrong or you would just never have a winning streak like that?

Cheers for all the help

[DJC]

hedders said:

DJC said:

Hedders it doesnt work like that.

Do you mean my figures are wrong or you would just never have a winning streak like that?

Cheers for all the help

It isnt linear.

[PieroW]

Firstly I would like to thank DJC for all his help and guidance - you are very patient!!

I have registered with IGindex and after watching it for a couple of days I placed my first bet yesterday and took 50p profit, not much but a good start!

I have found a great website on spread betting but the author suggests that if you are seen to be a consistent winner igindex will slow things down for you by delaying bets, what are your thoughts on this??

HEre is the link www.financial-spread-betting.com/binary-bets.html

[shadowninja]

DJC said:

The first binary of the day is ftse previous settle to 9am. It was something like 15pts down on opening and at something daft like 98.5% and I put £150/pt down. When I got to work at 9am the gap had closed remarkably.

£150/pt!

and you have time for work and you're doing all those binaries??

so what are you trading with at 1am?

Edited by shadowninja on Saturday 12th May 13:58

[superkartracer]

Cracking advise again! many thanks

Chaps, if new *like me* to this game! theres a great pack from IG that drops on ya mat when you sign-up.