Discussion in 'Trading' started by Surprise, Dec 26, 2009.

  1. Surprise


    If u trade 5 minutes binary bets based on momentum , news volatility , gut feeling based on 4 years experience , support resistence areas , r u considered a gambler ? y ? Isnt it like scalping ?

    I am talking about "IGmarkets" and "extrabet" indices 5 minutes binary bets ...
  2. The principle of binary betting is great, but IGMarkets is well known to freeze your account when you are winning too often or too much.
    And it doesn't matter if you are a gambler as long as you are a successful one.
    Actually, isn't gambling or spreadbetting taxfree in the UK?
  3. Surprise


    I know guys made 50k pounds or more with IGmarkets , thier accounts still open but thier bets is in dealer acceptance , so it depends on your system if u trade 5 min and they put you on D A then u r finished but if u trade hourlies and dailies they cant do anything to you , infact IGmarkets still can tolerate big winners compared to ladbrokes and other betting shops . Anyway the idea is to make some good money from a small account then move your funds to futures account , futures trading has a future and it is more professional , but if we can make 5 figures profits with binaries in a short period of time from a small account then y not , but i want to know is this gambling i dont like to be called a gambler ...

  4. On hourlies and daylies they can reject your bets. Then move the price against you (they are the market maker) before letting you bet again.
  5. Surprise


    i know they can do this but if u r not a scalper u will not care u will re-enter , and if they do this always u can open another account and play the same game w them for example if u want to bet the ftse to end up u take a down bet in your old account then they will move the price against u and requote u , then u let your friend to take an up bet in the new account in a better improved price .
  6. Why bother with IGMarkets when you can trade the exact same instruments on Nadex, which incidentally is owned by IGMarkets.

    Why is Nadex better? Because it is a regulated exchange under CFTC and the shenanigans that IGMarkets supposedly does to you are probably much harder for them to get away with under Nadex.
  7. Surprise


    i should to be from the US if i want to use nadex , but anyway at the end it depends on your strategy , if u always buy at 80-85 and want to exit if it goes under 50 then yeah they can make it harder for u , but b4 they do this to u, u probably made nice big profits , but if u play dailies lets say and u buy reversals ( prices under 40 ) what they will do ? they will requote u with a higher price , ok then what , its a daily bet u can wait untill the price is good , and u can scale in betting at multiple prices ,maybe they can make it harder for very short term binarybets ...