IGindex discussion thread

[shadowninja]

[from www.pistonheads.com/gassing/topic.asp?h=0&t=386355&d=9990.48900 ]

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

[shadowninja]

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..

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.

[shadowninja]

hedders said:

I am assuming that they would not let me place a £10 a point bet by accident as i only have £20 in the account?

yep. I tried to do something similar but was a few quid short.

[shadowninja]

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.

[shadowninja]

Yeah it's closed. Don't see why. Normal shares are still tradable. Bit annoying as I've bought in too.

[shadowninja]

I do believe that is a "bingo".


Deposited £500 on Thursday. One week later, up £100. to DJC!

ETA: cripes, it's dropped already.

Edited by shadowninja on Thursday 10th May 13:31

[shadowninja]

hedders said:

DJC said:

jamesw2000 said:

Is DJC still reading this, got some more questions for you (not re: how it works - just general spread betting stuff).

?

To be honest now that Northernboy and his ego had started sticking their oar in I was going to avoid the topic otherwise I could sense an argument looming and I cant be arsed.

Thats what I figured.

thought that, too. In fairness, I think he was giving us warning that we could lose the shirts off our backs if we weren't careful in a roundabout way.

[shadowninja]

alltorque said:

Yeah, but is like getting a win on a fruit machine? Should you pull out all your cash now while you're up, or risk losing it all! Decisions, decisions....

sounds a bit like unprotected sex. keep going for more pleasure or withdraw to avoid a massive loss of savings.

[shadowninja]

superkartracer said:

www.learnmoney.co.uk/spread-betting/binary-intro.html

useful

cool. thanks.

[shadowninja]

tip of the day: don't forget to click the "ok" after placing some order. I went off, came back and saw a message with the "ok" button and thought, "SHIT! what have I done???". I'd only reset a stoploss but thought I might have accidentally bought something.

[shadowninja]

DJC said:

Patience is the most important attribute.

Always, always, always exercise patience. I have found there is only one way to learn this...lose money.

I think I experienced this yesterday. I nearly sold when I was £200 down but something told me to be patient. Ended up about £40 up!

[shadowninja]

uhoh. think there's been a bit of a misunderstanding.

DJC we really appreciate the time you've taken to explain and re-explain.

I think the problem is that most of the guys who've started trading from PH have never come across IGindex before never mind binary trading, so it all appears to be a bit odd as a potential get-rich-quick scheme, despite the huge pitfalls. I guess in a way, I'm more trusting because I've been using* IGindex for about 8 months already. Anyway, bear with us newbies, we're bound to ask stupid questions.





*-giving my money to...

Edited by shadowninja on Thursday 10th May 20:15

[shadowninja]

superkartracer said:

Just a bit....

you might be better off deleting the last 5 words in your previous post.

[shadowninja]

superkartracer said:

Sure, the effort thing got me... I work 100h weeks so already rich but this interested me that's all.

Hey was only thanking the chap.

fair enough. cheers

[shadowninja]

Don't stoplosses protect you?

[shadowninja]

superkartracer said:

Anyone using the Java interface on OS10?

what's OS10?

[shadowninja]

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!

[shadowninja]

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

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.

[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.

[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.