Binary Betting- An Introductory Guide to Making Money with Binary Bets

Binary Betting- An Introductory Guide to Making Money with Binary Bets

Binary Betting- An Introductory Guide to Making Money with Binary Bets explains everything you need to know about binary bets and binary betting. I want you to be able to understand all the key features of this new trading vehicle so that once you have read this book you will be in a position to place bets and win.

Category: Binary Options

Author: John Piper 

Language: English

Free Download link: At the end of the post

Introduction

In the 1980s I made my first trade. I bought an option on the FTSE100 Index and then watched as its price slowly fell. Despite that inauspicious start, a few years later I started to trade full time. I developed winning systems and went on to manage money. In the years since, my trading experience has encompassed pretty much everything going.

Then, not yet a year ago, I was put in touch with Sally Nicoll, who was developing her spread betting trading skills. At that point she had only been trading for a few months and wanted help to make money. I was happy to help out and suggested she develop her own system. You can read all about it in her excellent book Bets and the City.

System development is always a key step and I had made the same suggestion to other would-be traders many times before. Often with little result. Sally was different. It takes time to develop a trading system, but two weeks later Sally was back with one!

This was a key moment – her new system was based on binary bets. I had never looked closely before at binary bets, but once I realised how they worked I was hooked. The total risk control they allow allied with the very rapid price moves that can be seen give the punter an unprecedented opportunity to make money. In my first week of serious trading I was up over 50%!

Binary bets, as we know them now, were only introduced in 2003, but they offer many benefits over other forms of betting and gambling. Here is a brief summary of those benefits. Only one of these is exclusive to binary bets, but no other form of betting offers the same powerful combination:

• the ability to bet on both sporting events and financial markets
• fixed-odds betting allowing tight control of risk
• constantly updated prices which can move very quickly
• the option of opening a bet at any time
• the option of closing a bet at any time – you don’t have to wait until the
game is over
• low minimum bets so you can cut your teeth without risking the ranch
• high maximum bets so you can rake it in once you know what you are doing
• the ability to place bets on the internet, via suitably equipped mobile phones (PDAs), and (sometimes) by telephone
• the availability of some unique bets giving unrivalled flexibility

Up to now, the betting world has been largely unaware of these benefits. It is my belief that binary bets are destined to play a much bigger role in the gambling of the future.
John Piper
July 2007

Who should read this book

This book has been written for:
• Anyone who is
completely new to betting or trading.
• Those who have been
struggling with spread betting or other forms of betting and trading and who want to find a better way – you’ve found it!
Experienced traders who should also find value within these pages. (I have traded futures and options for 20 years and there are some very good reasons why I now use binary bets.)
• Those who
do not like paying commissions.
• Those who
do not like paying tax – because your profits from binary bets will be tax free!

Why you need this book

Do you want to make money? If the answer is yes, you are holding the right book in your hands! This book explains everything you need to know about binary bets and binary betting. I want you to be able to understand all the key features of this new trading vehicle so that once you have read this book you will be in a position to place bets and win.

Why binary bets?
Binary bets offer those who bet on sporting events and trade financial markets some of the best deals available. Whatever you do in life there is a risk, and there is a potential reward. When you place a bet you want the maximum reward for the minimum risk. That is a magic formula, a winning formula – and it is a formula which binary bets offer. But only if you handle them correctly – this book tells you how to do just that.

There are many different ways of trading and betting – but all these other methods should step aside, there is a new kid on the block: binary betting.

How this book is structured

The book consists of seven chapters:
1.
A Quick Overview of Betting – in the first chapter we look at the basics of betting and examine the two principal types of bet – spread betting and fixed-odds betting.
2.
What is a Binary Bet – we then move onto binary bets which are a form of fixed-odds betting. We examine the pricing structure in detail and explain the effects of both buying and selling bets.
3.
Trading Binary Bets – in this chapter we learn how to trade the bets. We look at how the prices of binary bets are changing all the time and that they can be closed before the game is over, be it a sporting event or a financial market.
4.
Different Types of Binary Bets – the leading companies offer over 500 financial bets and there are new services coming on line with new bets all the time. There are also many sporting bets as well as those on political events and reality TV shows. This is a dynamic sector!
5.
Getting Started – this chapter is concerned with the nitty gritty of opening an account, logging in, monitoring prices and charts, taking positions and everything you need to know to get started.
6.
Real-Life Trading Examples – we look at six trading examples and show how binary prices move and how you can make money. One of these examples is a bar-by-bar account and shows every twist and turn as market action unravels.
7.
Ten Binary Betting Tips – finally we give you ten key tips forged in the heat of the market itself. Follow these and you will be well set to win.

Table of Contents- Binary Betting- An Introductory Guide to Making Money with Binary Bets PDF

  1. A Quick Overview of Betting 1

Betting 3

Types of betting 4

Summary 8

  1. What is a Binary Bet? 9

Comparison with other fixed-odds betting 15

Complementary binary bets 17

Risk and reward 20

Binary bets – the market today 23

Summary 24

  1. Trading Binary Bets 25

Binary betting prices are continually changing 27

Closing out a bet early 30

Trading bets 37

Summary 41

  1. Different Types of Binary Bets 43

IG Index – financial bets 45

IG Index – sports bets 53

Betfair – financial 58

Betfair – sports 59

BetOnMarkets – financial only 60

iiiBetsForTraders – financial only 63

HedgeStreet Inc – financial only 66

ChoiceOdds – financial only 67

Summary 68

  1. Getting Started 69

Choosing a binary betting company 71

Opening an account 73

Logging in 73

Viewing charts 75

Funding your account (margining) 75

Placing a bet 77

Closing a bet 79

Telephone 84

Bet size 84

Limits and stops 85

Monitoring positions 88

Dealing times and times to trade 89

Spreads 90

Tax free 91

Regulation and compliance 91

Commissions 92

Taking profits 93

Summary 95

  1. Real-Life Trading Examples 97

Six trades 100

Summary 127

  1. Ten Binary Betting Tips 129

Appendices 133

Index 145

Reviews

About the author

John Piper  has been trading financial markets since the mid 80s, mainly options and futures. His trading career has included trading right through the ’87 Crash, annual turnover exceeding £2m of option premiums on his personal account, managing money in excess of $1m, winning a TV trading contest, and generally spending far too much time glued to screens.

Some years ago he started The Technical Trader, which has become one of the leading trading newsletters in the UK. Over the years John has developed a number of trading techniques but summarizes his approach as Psycho-Trading – meaning getting into the mind of the market.

John spends his time in the Surrey hills but makes frequent trips to warmer climes with the Hash House Harriers – a club for those who like a drink but who have a running problem. Other books by John Piper:
The Way to Trade
• The Fortune Strategy
If you would like to receive John’s free news bulletin send a blank email to jptt@aweber.com

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