CherryCoke's ALL OR NOTHING (Binary Options) Odyssey - Page 41

I have a couple of questions if any of you guys can answer them for me. Right now I only trade regular options (not binary). But been reading up a bit on binaries and want to get my feet wet.

From my understanding of the basics, you simply bet on whether the equity is going to move up or down in whichever time frame and expiry you choose, and as long as it expires ITM you make 70%? And if it expires OTM you lose 90%? Is that correct?

Also, I read that there are no fees, is that true? If not, what are the fees like?

Lastly, is there any type of paper trading platform/website for binary options? I'd like to practice this stuff first before putting money in? Anyone got a link?

Thanks!

Sorry Datemike, just read your answers again. Also with PYX I can trade right in to the close if GOLD closes at 5pm I can get a trade away at 4.59 59

Free demo no deposit needed (Why would anyone deposit for a demo?) No withdrawal fee, they use an online payment company so all accounts are segregated from the companies.... massive plus for me as I was burnt by MFglobal.

Ya its just sigh.........

From what i've on the PYX its a different you set boundaries. While 24op & etc most are just doing +/-. I wouldnt say 1 is better than other just different.

My short term SR's are based on fibos on m15 down to m5 chart. But calculating fibos is discretionary unlike pivots they are plotted automatically.

typically there is 2 expirations. 1 being end of the trading session & 1 being near term. You have to until 5 minutes before expiration to enter. example if expiration is 10:30 you must enter by 10:25.

The % have changed since the start. Before it was like 70% in the money 15% out of the money. now its more like average +80% in the money & always -0% out of the money.

No fees to put a trade on but most have $30 withdraw fee.

https://options.4xp.com is what i use, its free demo account. 24option which everyone here appears to be using wants a $250 deposit to run a demo account which is some fuckin bs.

4xp doesnt have forex trading until 1am~. 24option starts at 11pm~ i think.

They basically all use the same platform unless you using nandex which is kind of a different system not as simple.

o7media,

Please see my previous posts. My background is similar to your. I am an ex vanilla options trader and now day trade my own book. I have used up down platforms for 85% return but have been burnt a few times when withdrawing money or not getting a fill at the end of the hour. It comes down to heads or tails really. I use www.pyxmarkets.com for my binary trading.

FSA regulated, end of day options that you are not locked in to... I can sell a position when ever I want to take my profit or cut a loss. I select the range I believe the asset will close and the platform qoutes me a return in real time. The largest return I have been quoted for the FTSE to move just 20 points is 780% but their website does state that they do offer up to a 2000% return.

They also give you access to a demo account to test your strategies without risking your own funds.

Well I set up a demo account at 4xp but it just keeps loading after I login. Won't do anything else 

Are there any other free paper/demo binary option accounts?

As I said, www.pyxmarkets.com offer a free demo which I traded for around two weeks before taking the plunge.

Works similar to vanilla options as the trade moves closer to expiry it moves towards 1 or zero. Ie, it heads from your trade value to either zero of the maximum gain they quoted you before you traded.

Lets say I trade £50 for gold to close between $1600-1620 with a return offered of £200, if at 12 noon gold was in my range then the option would be worth around £100 I could sell that to nick a profit. If it were the other way and I was out of the money at 12 noon then the option would only be worth circa £25 but I could still sell out to limit my losses.

Hope this helps.

Thanks, unfortunately that only has the FTSE. I'm in the U.S... so I can't trade U.S. equities off pyxmarkets.com 

Oh okay apologies, I'm in Europe so it works for me.

I'm sure they will bring on US markets in the future. 

Thanks though. I guess I can still use it to learn the terms and how the trading works. And then just try it out on 24option or somewhere.

Well I set up a demo account at 4xp but it just keeps loading after I login. Won't do anything else 

Are there any other free paper/demo binary option accounts?

True, maybe worth using as a test bed. Not sure if 24 options offer the same kind of trading.... from my experience PYX is quite unique in its offering.

Could you not trade European assets with them or dont you touch Euro markets (not a bad call with whats happening in Spain and Greece)

I've never traded European equities. Only U.S. Not really looking to start either.

you got to this website. https://options.4xp.com

your metatrader # is your account number put that in.

put your password in *hint: type it correctly.

Click login.

Hahaha never say never. Although now would not be the best time to start.

I mix it up with some US stuff but really only two or three major equities that I trade plain vanilla (A habit that is hard to break).

Good luck anyway?

lol true.

someone told me that binary options are only offered on some stocks...the larger ones like AAPL, GOOG, etc. Is that true?

ya only a handful of popular stocks, each site a bit different in what they offer.