Getting clever - trading on two platforms

The Tradefair Trader / The Financial Trader / 19 March 2008 / Leave a comment

Combining spreads and binaries may be a shrewd way to make money...

Some new areas to play in this week kids - a side trip into the Gold daily binary market. This is fuelled by the fact that the market (FTSE daily) may continue to drop for a while, but gold, that old standby, will keep rising. So my main market play this week will be to obtain sell position on FTSE spreads, but buy daily gold on Binaries.

I spent some time watching the markets - the FTSE dropping then climbing to dropping again late in the evening looked promising. Gold is on a more slow burn so is a more 'long term' play. This is in contrast to my quick-win 'in then out' normal plays. I opted for a buy position on Gold daily (64.0%) at £10 a point which I managed to sell at 78.1% which netted me approx £53. Easy.

On the FTSE side I couldn't resist a sell position and got in at 5608.0 and sold the position at 5591.00 which at £10.00 a point was a cosy £170. This morning, I got in a little bit earlier and had a quick fumble with the FTSE. On the basis that 5450 was the bottoming out of the price and we saw a sharp rise followed by a steady rise yesterday, I quickly jumped in at 5631 with £10 a point. Shortly afterwards I was able to sell at 5646.3 (a 15.3 point rise). £153 was a nice start to the morning.

Monthly PL: £476

Lesson Learnt: There is a time for binaries, and a time for spreads. But they are not exclusive of each other.

Tags: betting help, betting tips, binary betting, financial spread betting, spread betting