Binary options australia forum

This may appear to be a strange post coming from me most of them of late are I guess but I feel I need to make our community aware of the latest 'fad' 'scam'???

I'm quite surprised that this has only been mentioned once on BabyPips as far as I can remember and if I remember correctly the poster never got any answers and I 'stayed out of it'.

But this morning I just happened to 'mosey on over' to AskPips. Now let me tell you from demo experience: I found out about Binary Options last year when I was TRYING to set up a training school for our 'less fortunate' it's a long story and at the time a lot of my 'students' discovered these Binary Options.

There's nothing wrong with the CONCEPT and as a matter of fact: As a matter of fact: So far so good.

Binary Options Trading with BinaryMate

But NOW 'enter the Binary Options Brokers' and the picture changes somewhat!!! To prove a point last year I opened demo accounts with a lot of Binary Options Brokers.

To be honest and if everything was run legitimately: So if you can read a 'normal' chart all Binary Options charts are web based and are our equivalent of tick charts or possibly 1-minute charts you should be able to make a 'killing'.

But HERE'S the problem!!! It didn't matter WHAT Binary Option Broker I was demo trading with: This is our equivalent of 'bucket shop brokers' holding profitable positions open until they've turned to losing positions and only THEN closing them out.

In each and every case I sent emails asking WHY at the time that the Binary Option was SUPPOSED to expire it would have expired 'in the money' profitable but it only expired 45 minutes later 'out of the money'. I've never received ONE single reply from any of these brokers as to 'why'. All of the others are merely our equivalent of Introducing Brokers or White Label Brokers the software is re-branded for these one or two 'Retail Binary Options Brokers'. What concerns me even more is that of late: So there's my 'take' and my warning about these things.

I'd be keen to know if anybody here trades Binary Options and if so how they're doing. And that's not an invitation for the Binary Options Brokers to 'create' 'members' here and have these 'members' tell everyone how well they're doing!!! To pick up on Dale's warning, I'll toss in my own.

Binary options are mostly gambling and as such the house has put the odds in their favor. That means they're computers set the pay-outs such that in the long run they are going to win based on their calculations. Take a look at those payouts and figure out what kind of win rate you'd have to achieve to come out ahead.

This isn't to say it's impossible. You just have to be very realistic about your chances and realize the margin of error will be small. Yeh and what kills me is that the advertising campaigns and promises of high returns in short periods of time is going to give yet another legitimate trading vehicle market a bad name.

That's not an 'easy sell'. I saw it happen to a few individuals last year but 'oh the power of Internet Marketing'!!!

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But again I suppose it's much the same as this business really i. All these Binary Options 'Brokers' have done is convert a legitimate form of Option I think it's called a Vanilla Option or something like that into some 'quick money making scheme' for them of course.

I did note that they are indeed a legitimate trading vehicle but not these 'get rich quick in fifteen minute' type things i. Just Google 'Binary Options Broker' and you'll come across many. There are different types of Binary Options offered as well e.

It's more of a 'range' that somehow they calculate. Another 'version' is that price only has to 'touch' a certain upper or lower price within a certain time period again they calculate the 'range'.

And there are various other type of these things available. Put it this way: And the, let's call them 'proper' Binary Options Brokers will allow YOU to specify the price 'ranges' and therein lies the difference.

The main problem with these type of brokers is that there's no price reference point. I'll guarantee you that there will be 'every reason under the sun' as to WHY as far as YOU were concerned your Binary Option expired 'in the money' but there'll be an explanation price spike??? Internet connection speed issue causing a delay??? Also and I think this was one of the things John was addressing: And don't get me wrong here: I must have messed about with this stuff for about a month and couldn't believe how my demo accounts were growing at the time IN SPITE of the 'shenanigans' that I saw being 'pulled' and never got answers to.

But I'll wager that the live accounts are manipulated with far more of a concerted effort. All I'm saying is that they are indeed a viable and legitimate trading vehicle and a method of limiting risk and minimising losses on a 'directional' trade trend trade that went awry. But NOT at these 'make a million in five minutes' brokers.

I've got no 'axe to grind' with any of them because I've not put one single LIVE cent into them. It's just something that I've noticed appears to be gaining in popularity because on an intense advertising onslaught much the same as with FOREX trading when it started becoming popular. On the other hand: That type of thing.

I just thought it's something that would be worth a mention is all. All I know is that I saw some serious manipulation on DEMO accounts now how dumb does a person have to be to manipulate a DEMO account i.

The above is not correct with the broker I have tried this with. You have to get lucky to win. It is more like gambling.

I do think it could be an ok way to trade news if you understand the risk. The elimination of a price level stop but still trading with limited risk seems a good way to go when crazy whips and moves are probably going to happen at a news release. Even that sounds a little better then it is in practice. A news release is known and volatility at a certain time can be predicted so that's all factored in to the binary markets around newstime.

I do have a real account at a binary broker and have traded news like this. I don't consider it a very serious way to trade but its fun to watch a chart go crazy at news if some coin is riding on it. I have not tried to figure it out but I bet you could make a pretty good spot FX strat by looking at binary strike prices and the prices the contracts are being traded at.

Could be fun for a number cruncher to work on. To go along with what Dale said about longer term contracts like daily and weekly. That does seem to be the way to trade these things. The manipulation of the prices seems like it would be less of a percentage of your position. If you are talking about winning a 15 min binary by 2 pips or a daily binary by 50 pips it would look pretty fishy if the brokers price feed was 50 pips out of wack with every other price feed on the planet, but you may never notice a pip here or there and a few pips here or there on a bunch of 15 min contracts could make someone a ton of money.

That would be the broker not you the trader. Mabe my wording was bad because if I read your quote of you quoting me it doesn't makes sense does it!!! BUT NOW you've just 'opened up my eyes' to something that I would never ordinarily thought of given that I don't even LOOK at an economic calendar let alone try to trade the news!!!

I'm sure that YOU know what this means but for the benefit of others: The only drawback if you can call it that is that the closer to the expiry time you 'buy' the option the less the profit percentage becomes and I'm not sure if the cost of the option reduces although I don't think so. Is that what you were trying to say??? I cannot believe I'm even MAKING that statement especially given the reason I started this thread but hey: I've got no problem in 'being wrong' if I am wrong!!!

I hope to hear more from you on this. I'm not going to try it i. I'lll tell you one thing: Stuff like that in and of itself has always 'put me off' and 'raised the red flag' but who knows: I don't understand your question. Please explain further and I'll try to help but please do note that I myself am NOT encouraging this type of 'trading' I don't believe it's 'trading' at all but Shr1k has made a good point that I'm keen to discuss for interest sake.

A Binary Option is best described as a the type of option where the return is seen as one of two positions, either a fixed amount of some asset or nothing at all. Yes very similar with the same pricing that favors the broker. A "Box" is drawn by the trader it can be a hit or miss box, depending on how the box is drawn it can be just like a regular binary.

I think I'll just stay away from them and stick to Black Jack when I want to gamble. Well I don't know anything about Oanda's 'boxes' but Shr1k's earlier reply that included a note about trading the news is what captured my interest after I'd just 'slated' these things!!!

Binary Options Australia - Binary Options Trading and Brokers

By the way just to explain to those that may be interested: This pretty much is the way that computers 'understand' things at the end of the day and a ZERO 0 in a Binary Number means the 'Bit' is turned off and a ONE 1 in a Binary Number means that the 'Bit' is turned on.

So there's a little bit of useless information. Although I do believe possibly understand??? I believe based on my messing about with them and what I've read they are legitimate trading vehicles and, logically speaking, should be 'the ticket' for a news trader i. My problem is that with the small amount of 'playing around' demoing these things I saw things at various brokers that I just didn't 'like' but I'm pretty sure that there are indeed some regulated Binary Options Brokers out there.

Hi Dale, hope you are doing well, nice to see the amount of experience that you have in forex. I'm not sure how to answer you though. If I go into my trading equities and commodities vs. FOREX argument here I'm going to 'knifed' as usual!!! Which is only fair I guess given that this IS a FOREX site. I don't believe FOREX is 'the way to go' that's the statement that usually gets me into trouble. Although I CANNOT tell a lie to everyone else: I am INDEED keenly watching certain FOREX pairs at the moment for some L-O-N-G term trades but I guess they won't interest anybody here either given that they are 'exotics' and have spreads in the region of pips or more etc.

There's some very good, honest, experienced, and knowledgeable FOREX traders around here who are only too keen to help. I agree with you BUT as I noted: I do believe that it's MORE 'broker reputation' dependant than is 'normal' trading and therein lies the problem. Also, and if you're good at studying price action and price action alone I don't see any reason why they cannot work.

I started seeing 'moves' even on demo accounts that didn't make me feel comfortable and one can only assume that if these 'moves' were evident on demo accounts then live accounts would, theoretically, be even worse especially if you're actually making money. Only 10 types of people in this world, those who understand binary and those who don't. But it just seems another way of pulling some money. Sry for the nuub question as i am still newbie. That's pretty much what they are but they're not only limited to FOREX.

Good morning, As always: I think Oanda's "boxes" are the same as binary options. Hello, Well I don't know anything about Oanda's 'boxes' but Shr1k's earlier reply that included a note about trading the news is what captured my interest after I'd just 'slated' these things!!!