Playing with BetonMarkets – Binary Betting
I thought I’d try something different today and play with the 10 minute Up or Down markets on BetonMarkets. Basically, you bet that in the next 10 minutes the price of the underlying instrument that you’ve selected (in my case, GBPUSD) will be up or below the entry level. The entry level is the time when the bet is placed.
The cost of the trade was £1.06 for making 94p back. Therefore almost a 95% return on your money back should you get it right. I was only testing with a very small amount but of course, you can scale to a much larger size. For example, bet £100.60 for a potential return of £940 return!
The picture below shows my trade. I had bet on the price of GBPUSD to be lower than where it starts in the next 10 minutes. It starts off at 1.5942 and immediately goes against me! I had entered this as there was resistance in the charts and I expected this to have pushed the price lower.
The price went up for about 7 minutes before it started to fall… you can see that it actually ended up 1 pip below my start point yet I made over 90% return on my cash!
These markets are called binary markets by the way.. there are only two outcomes after the binary number range… 1 or 0… in otherwords, you win or you lose! Some people prefer to trade this way, I have played around with it previously and it can be a lot less hassle compared with the traditional means of buying and selling markets.. much less psychology to worry about!
Hi, I have been using Betonmarkets for a few years now, I first heard about them from Vince Stanzione that I think you have mentioned on your site. BOM is a good way to start if you have a small starting bank. Check youtube you will find some videos on Fixed Odds here is one: http://youtu.be/mYhSh7fypqs
Thanks Tom.. . yes, I’ve mentioned Vince Stanzione before and also BOM but I’ve not done the 10 minute Up/Down markets before! Usually, I play the touch/no touch markets!