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    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
    Ebook167 pages1 hour

    Binary Betting: An introductory guide to making money with binary bets

    By John Piper

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    About this ebook

    The world of betting is changing dramatically - say hello to Binary Betting.
    In recent years betting on sporting events and the trading of financial markets have been moving closer to each other, and binary bets are the result of this convergence. Binary bets combine the attractions of sports betting with the flexibility of the financial markets.
    Binary bets allow punters to:
    - Bet on hundreds of different sporting and financial markets
    - Close out bets before the event takes place
    - Profit from spectacular price moves
    - Bet in unusual and unexpected ways - experienced traders will love this
    This is the first book on binary betting and explains in simple language what binary bets are, how to trade them profitably and how to reduce risk. Within the book there are many real-life examples of binary betting trades and minute-by-minute analysis of binary price behaviour. In addition the book includes inside tips from an experienced trader who uses binary bets in his trading day in and day out - discover the bet that pays out even when you get it totally wrong!
    Find out what makes binary betting the fastest growing area of betting and why traders are switching to the new exciting world of binary bets.
    LanguageEnglish
    PublisherHarriman House
    Release dateSep 24, 2010
    ISBN9780857190512
    Binary Betting: An introductory guide to making money with binary bets
    Author

    John Piper

     John Piper is founder and lead teacher of desiringGod.org and chancellor of Bethlehem College & Seminary. He served for thirty-three years as a pastor at Bethlehem Baptist Church in Minneapolis, Minnesota, and is the author of more than fifty books, including Desiring God; Don’t Waste Your Life; and Providence. 

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      Book preview

      Binary Betting - John Piper

      Publishing details

      HARRIMAN HOUSE LTD

      3A Penns Road

      Petersfield

      Hampshire

      GU32 2EW

      GREAT BRITAIN

      Tel: +44 (0)1730 233870

      Fax: +44 (0)1730 233880

      Email: [email protected]

      Website: www.harriman-house.com

      First published in Great Britain in 2007. Reprinted in 2009.

      Copyright: © Harriman House Ltd

      The right of John Piper to be identified as the author has been asserted

      in accordance with the Copyright, Design and Patents Act 1988.

      ISBN: 978-0-85719-051-2

      British Library Cataloguing in Publication Data

      A CIP catalogue record for this book can be obtained from the British Library.

      All rights reserved; no part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without the prior written permission of the Publisher. This book may not be lent, resold, hired out or otherwise disposed of by way of trade in any form of binding or cover other than that in which it is published without the prior written consent of the Publisher.

      No responsibility for loss occasioned to any person or corporate body acting or refraining to act as a result of reading material in this book can be accepted by the Publisher, by the Author, or by the employer of the Author.

      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 [email protected]

      Acknowledgements

      This book is for Zena who has helped enormously in its creation and for my daughter Hannah who made money on her first binary bet, much to her, and my, amazement.

      I must thank Sally Nicoll who introduced me to binaries in the first place.

      I must also thank the betting companies, primarily IG Index for permission to use their charts and screenshots throughout the book.

      Finally, I owe a big thank you to Stephen Eckett, my publisher, who put an enormous amount of work into this book - improving it vastly in the process.

      Preface

      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:

      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.

      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.

      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.

      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!

      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.

      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.

      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.

      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

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