Your welcome. Would you mind expanding a little on how you treat binaries the same as your verticle spreads and Iron Condors? A little insight may be helpful, if you are comfortable sharing. At this point I am still MUCH better at spot forex than ...

Why Binary Forex Options are better than Spot Forex

Reres, I can't seem to find it on the website. It's possible I heard that from the broker when I called them this past week. At any rate, I will find out for sure on Monday. Sorry to hear your loss was on a live account. Coach

Why Binary Forex Options are better than Spot Forex

Peter, you are correct. You can close a position at any point during the life of the option. I copied this from the IG Markets UK website: "Continuous dealing prices We quote a continuous price until very shortly before the underlying market closes. ...

Why Binary Forex Options are better than Spot Forex

WOW! Very tough day! Hopefully that was a demo. There is no type of trading that doesn't carry an element of risk. I have never known of anyone who knows where the markets are going. Through sound technical and fundamental analysis a trader can make ...

Why Binary Forex Options are better than Spot Forex

Excellent job cmoon . Best wishes for your success trading your live account. Coach

Why Binary Forex Options are better than Spot Forex

Makes total sense. I have spent a number of years refining my skills in the spot forex market as well. I agree with Yoda that an understanding of trading spot forex is extremely valuable. The biggest problem for me is that I'm so used to scalping ...

Why Binary Forex Options are better than Spot Forex

Well today I ended the week in a very satisfactory way. I am very excited about Binary Options. It's too bad so many traders that were contributing to the thread have left. Maybe they'll come back some day. I'm considering a live account the middle ...

Why Binary Forex Options are better than Spot Forex

Yes stocks did have a real good week. In my opinion, the earnings for many companies were set so low in the first place it would have been hard not to beat. Yet the market seems to look past that and the euphoria for recovery continues. I believe we ...

Why Binary Forex Options are better than Spot Forex

Hi Lucashammer, The minimum contract for a binary option with IG Markets is 0.2, which is the equivalent of $2 per point. Since that is the case, to be able to trade the higher probability binaries, like a buy at 90 points for instance, a trader ...

Why Binary Forex Options are better than Spot Forex

Yes it would have paid out more than 10 pips. The trade was about an hour before the big announcement on GDP for the Pound. The actual number was a substantial miss from the expected number. I wish I had stayed up an hour longer, that would have ...

Daily Cable Analysis

Enjoy your posts TheCableGuy. Keep em coming. By the way, the reversal trader in me couldn't resist a short at 1.6534. Closed at 1.6524 for a quick 10 pips.

Daily Cable Analysis

Note: I closed this trade at 40 for a 10 point profit.

Why Binary Forex Options are better than Spot Forex

Nice post kfmfe! This is what I've been thinking about: use the binaries as a "hedge." There will be days I will succeed with binaries where I might not do as well with spot forex trades. Or better yet, days when I do well with both . Plus one ...

Why Binary Forex Options are better than Spot Forex

I remain bullish on the EUR/USD. After the market reopened, I bought an up/down binary on EUR/USD up (> 1.4204) at 30 points. The risk is 30 to make 70. There is some news during the London session, so we'll see. As I analyze the binary trades I ...

Why Binary Forex Options are better than Spot Forex

Very nice Lucashammer. You are doing great! My last 24 hours has been interesting. As I said in a previous post, you can trade spot forex at IG Markets as well as binary options. I traded the equivalent of a standard lot on both binaries and spot. ...

Why Binary Forex Options are better than Spot Forex

Yes the fees definitely need to be factored into the strategy. That is one thing I like about IG Markets. They charge no commission. It does appear they may make up in the difference between the bid and offer price on the binary. I have not totally ...

Why Binary Forex Options are better than Spot Forex

Interesting Phil. So what do you trade now? Spot forex? Futures? Other options?

Why Binary Forex Options are better than Spot Forex

Yes this was informative Lucashammer. I appreciate you taking the time to respond and for a look into the strategy you use for binaries. Using ATR makes perfect sense to me. ATR is what I have used for a long time in trading spot forex, trading ...

Why Binary Forex Options are better than Spot Forex

Hi Yoda and all other traders in this thread! This week I decided to look into trading Binary Options. I opened demo accounts with both Nadex and IG Markets. So far, I have been more comfortable with IG Markets, mainly because I can still trade Spot ...

Why Binary Forex Options are better than Spot Forex

Yoda, thanks for bringing this 'option' of trading currencies to the attention of members here at Forex Factory. I will be doing some study on the subject this weekend. It never hurts to explore new ways to make money in the market. Coach

Why Binary Forex Options are better than Spot Forex