SportsMavins Binary Options Thread

Are you wagering on what the next price will be...?!?! lol..that seems almost very unpredictable...

Do share...

I guess you bet on sports and have an understanding what Under/Over bets are. Well, in binaries you have assets prices of which are changing constantly during their trading hours.Once you decide that a certain asset price is on it's way up, or down - you take a trading position where you enter the sum of your trade and expiry time which means for how long your trading position is. For an example: if I came to a conclusion that Gold price is gonna go up and in one hour from now it is going to be higher than now and took a trading position on that for 1000$ - if the Gold price indeed will be even by a 1 cent higher than at the time of taking the trading position - I would make 780$ on that. And if I'd taken trading position that the price would go down and it would indeed go down - I'd also win. There are always two possibilities - Call (UP) and Put (DOWN)  - that is why it is called binary. You don't have to "wager" what will exact price be but into which direction it will go and you can take different expiry times from a minute to 3 months as you see fit. 

Now for us the sports bettors that are used to so many factors while handicapping - trading binaries often are like piece of cake as there are no biased refs and players and Vegas etc. If some asset is getting strong - it is getting strong and your trade is not depending on some butthole who sold the game and is going to miss the free throw or an extra point kick

Just outta curiosity and eager to learn ;)

Also what sites and what things are you looking for in the news?

Those trades were triggered by technical analysis first supported by fundamentals and trends. The same analysis should have won the trade beforehand too but it did not and I did not abandon or got cold feet after losing the initial one and as I said I pursued the right path further. Technical means that the charts showed certain indicators that the price should have climbed meaning weaker JPY as it was way too strong and not justifiably high compared to Euro as the result of speculative moves on part of manipulators and that I know how to figure well thank to the system I developed myself while at Goldman Sachs.. Fundamental/Trending kicked in with the knowledge that closer to opening the Japanese market - stronger JPY would get with the level I was pretty lucky it dropped below my PUT position right on time. The right on time calculations were the result of all 3 together figuring after that time predictability level would drop.

I am using Netdania.com to double check each move.

As the news are concerned - that is a very important question and although the info is a key for financial success - someone has to sort that info for our relevance. One of the reasons I use optionrally as my trading platform is the fact that they produce Daily Market Reviews (Optionrally news by Amy Anderson) on daily basis making it easy to know ahead of the time what to pay attention to. I also look at the financial calendar and study it thoroughly to have a grip on events and their influence on price of the assets.

I know all this may sound like too much but for me it comes natural as in sports handicapping checking all the vital stats but here it has less factors that can influence the outcome and no surprise factor at all which is like a half job done already

U are a true Gemmmmmmmmmmmmmmmmmmmm......

882370

$ 2,000.00

EUR/JPY

13:55 14/08/13

130.021

14:30 14/08/13

130.077

$ 3560.00

Win  +1560$  1-0

Good point. May be we should make a collective email requesting that!