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 Anyone who has read my introductory guide to binary betting and wants to know more. The first book was written to explain the basics of binary bets – this one goes a whole lot further!

 Those who have been struggling with spread betting, or other forms of betting and trading, who want to find a better way.

 Experienced traders will also find a lot of 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!

I am writing this advanced book to follow on from where my earlier book, Binary Betting, left off. The earlier book was specifically designed as an introductory guide accessible to experts and novices alike. This second book assumes some knowledge but only as much as you can get from reading the first book. Binary bets offer those who bet on sporting events and trade financial markets some of the best deals available. In this book I am going to take you on a ride through my trading approach and through many trades I have done myself.

Let me give you one example which goes to the heart of why binary bets are so attractive. Chapter 5 is all about trading the news. Most traders run a mile when the news comes out as it can produce sharp moves in both directions, albeit not usually at the same time, but with markets as they were in October 2008 even that would have been no surprise! But with binary bets we welcome the news as a great profit opportunity. Our risk is 100% controlled and the sharp moves which we often see when the news comes out are like a gift from heaven for the binary trader.

Of course you have to choose the right bets. Read on…

Whatever you do in life there is 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.

The first chapter kicks off with a “Day in the Life”. In the text I say it was tough but I spent that particular day trading from the tropical paradise that is Phuket and making a decent profit – it does not get much better than that! (I very much enjoy trading and I also very much enjoy tropical paradises. I see no reason at all not to combine the two.) In this chapter I explain why I took the trades I did and we begin to look at how we can trade the market (FTSE in this case) using binary bets.

In Chapters 2 and 3 we leave practice behind and look at some theory. Chapter 2 is concerned with a number of different approaches to trading the markets with binaries and Chapter 3 looks at some of the key bets and outlines ways in which they can be used.

Those three chapters comprise Part I of the book and we then move onto Part II – the Strategies.

In part II we learn how to trade:

  longer-term bets with a maximum of six months duration

 the news

 the waves (Elliott Wave Theory)

 the spikes (Market Profile)

 the mind of the market

 trendlines and moving averages

Part III is a critical part of this book and explains how you, as a human being, interact with the market and how to develop your trading approach.

Part III also includes a lot of essential information on statistics – stuff traders need to know in order to survive.

Finally, in the Appendices you will find a wealth of material to back up some of the key information in this book, including the 5 point trading plan – something that may inspire you!