As a trader you need to be aware of the other types of binary options if you want to trade successfully in this market. You can choose the type depending on your specific trading needs.
The type can be decided depending on the prevailing market conditions and trends. You can make the choice based on the best payout that is offered in the market.
Up/down – This is the most common type of binary option and is also known as call/put or high/low option.
The trader speculates whether the underlying asset may close up or down at a predetermined period. You can choose to take a long or short position.
The various expiry times available to traders include 60 seconds, 15 minutes or one hour, end of day or more than one day.
After the trader choose the expiry period they do not have to monitor the trade as it automatically expires at the specified time.
The closing status of each trade is notified to the trader and this helps keep track of the profits.
Touch/no touch or double touch – In this type the trader predicts if the value of the asset increases or decreases. They predict if the value touches or does not touch the level specified. It can be at a level that is lower or higher than the current value of the asset.
The traders may be able to purchase the options during weekend when the markets are closed.
When the markets start trading during the week and if the asset touches the level that has been specified then the trader makes a profit.
No touch is when the level is not reached. In double touch there are two levels that are specified and if either one of them is touched, it is a profit.
60 second option – It is a popular type where the trading expires in 60 seconds.
When the asset starts moving in one particular direction then the trader can take advantage of it by placing multiple trades so that they may be able to maximize the profits.
As the expiry time is very short it is important that the trader recognizes the trend and responds immediately.
Boundary option – It is also known as range or tunnel option and is similar to the touch option.
The upper or lower level boundary or range is specified and the underlying asset needs to stay within this range so that it is profitable.
You can choose this type of trading when the market is stable. It is best avoided when the markets are volatile.
Some brokers offer other types of binary options that can be created by the traders themselves. This can enable the trader to use analytical tools to follow the movement of the asset during the option period.
Collectibles have been hot this year, with new records being hit almost daily. Just this fall, an acoustic guitar owned by John Lennon of the Beatles sold for $2.41 million, crushing original estimates of $600,000 to $800,000.
From The Wizard of Oz, Dorothy’s dress sold at auction for $1.5 million.
Amedeo Modigliani’s “Reclining Nude” sold for $170 million, making it the second-highest art auction price, while Roy Lichtenstein’s “Nurse” sold for $95 million, nearly doubling the last record for the artist.
Owning a unique piece of art is more than having your hands on something rare, something that represents a piece of history. It’s also a way to diversify your wealth so that it’s not only protected but also has ample room to grow.
And you don’t have to have millions to take advantage of the collectibles market…
To help you dip a toe into the world of collectibles, I reached out to Max Hasler with Dreweatts and Bloomsbury Auctions. Max specializes in modern first-editions and 20th-century literature and manuscripts. He joined Bloomsbury Auctions in 2010 after studying for a B.A. in Literature at Royal Holloway University of London, focusing on modernism and American literature.
Dreweatts and Bloomsbury is one of the top four auctioneers in the U.K., with over 150 sales per year across a broad range of disciplines. Bloomsbury has historically specialized in book auctions, and recently joined with Stanley Gibbons in the last few years.
Jocelynn: Thanks so much for chatting with me, Max. Readers have heard me talking about collecting stamps and coins in the past as well as rare music poster art, but we’ve never touched on books before. Why are collectors willing to pay so much for books, particularly modern books?
Max Hasler: The reason people are willing to pay so much for a book is because, like other areas of the luxury collectibles market, modern first-edition books are driven by personal passions. It is this passion that usually draws people into becoming book collectors.
Part of the draw has always been aesthetic: The charm of a beautifully illustrated book, fine printing upon the page, an elaborate binding or a well-designed dust-jacket, which have been known to become as iconic as the book itself at times. Another part can be personal: For instance, you may have loved Catcher in the Rye, To Kill a Mockingbird or the works of J.R.R. Tolkien as a kid.
Jocelynn: How would you say that the market has shifted for book collectors?
Max: The reasons for possessing a book collection have altered over time; these days fewer people would own a valuable library for reference. Instead, it is about owning items of especial historical or cultural relevance or beauty.
One of the more dramatic changes to the market has happened relatively recently with the rise of the Internet. With so much information digitized, the market for reference and academic works has declined dramatically. However, in many ways it has had the opposite effect on the more collectible items. The Internet enables collectors to find the books they are searching for with relative ease, either through auctions or the numerous online bookseller sites, which in turn has made book collecting far more approachable, overall.
That brings me to the newest area of book collecting: modern first editions (generally books from the 20th century and onward). Good copies continue to make record prices today.
It is also the area that has seen the most interest from people new to book collecting, as well as those looking to invest – making this the fastest growing market in the book world.
Jumping into Collectibles as a New Investor
Jocelynn: As a new collector/investor looking to include books in his portfolio, what are some of the aspects that should be considered when purchasing a book?
Max: Some of the key areas that a new investor should consider are:
Great modern authors: Look for a classic title written by one of the greatest authors of modern English literature (that is, literature that’s written in English, not just written by an English author).
First editions: Search for first editions. “First editions” refer to the very first “print-run” or first time a novel was published and distributed for sale. Those print-runs are, by their nature, much smaller than later editions – and that’s what makes them so attractive to book collectors.
Area of focus: Often it will be a particular author or book that will first get collectors started before they start to broaden out. In fact, I always advise a new collector to be focused in what they are collecting; in many ways the more focused the better. Perhaps try collecting everything by a particular author. When you have been working on that for a while, you could expand to include other writers within their social or cultural circle. If you are feeling really ambitious, you could research the writer’s inspirations and try to collect those.
Jocelynn: When considering an investment, how much should condition impact the pricing of a book?
Max: An important tip that any serious book collector should bear in mind is that condition is absolutely paramount. As a collector, you might find two copies of the same book that you are looking for to fill a hole in your collection. The price of one might be a fraction of the other and the likely reason for this is condition.
As with most collectibles, books degrade over time if not kept and handled properly, and as a result it is only those copies in good condition that fetch a premium. Purchasing a lesser copy of a book might fill a hole in a collection, but you should always look to upgrade wherever possible. The potential future returns for a book also diminish in line with the condition – books in poorer condition might go up a little over time, but it is only the copies in the best condition that ultimately see the best returns.
And keep in mind that the condition of the book itself is about 10% of the value. The real value? That flimsy piece of paper wrapped around the book: the dust jacket. Make sure that your item comes with it, because a first edition with a dust cover in fine condition has been known to fetch 10 times more than a book without it.
Jocelynn: What about author signatures? I’ve heard that with some investments, they are a hindrance rather than a help.
Max: Depending on the author, book, condition of book, inscription type and rarity, signatures can help a book’s value. They are a piece of history to be prized. For example, J.D. Salinger or Thomas Pynchon’s signatures can add weight to any collection because they are notoriously reclusive, thus their signatures are rare. Other authors change their approach to signings later on, such as J.K. Rowling, who became reticent to sign books later in her career. By doing your homework, you can determine a signature’s value. Just remember that the autograph/inscription should be verified to rule out the possibility of fraud.
A few decades ago, it was widely believed that the most effective way to analyze the markets for trade was to determine the fundamentals, such as the number of bushels in storage, the current demand figures, the expected harvest yield, etc. Many assumed that Technical Analysis was not useful. Reasons given were that price action is random, or that it ignores the fundamental factors of the underlying asset. The facts are quite the contrary.
Many have come to learn that the old ‘buy and hold’ strategy can be a costly one. Stories abound of those who have found the value of their portfolio has only broken even (or lost value) after holding for several years. The financial crisis of 2008 highlights one of several historical periods where investors have lost millions. While it is always a good idea to know a company’s financial health as well as their future potential in sales/profits, what may be a healthy financial statement and outlook today can look a lot different tomorrow.
Technical analysis focuses on price movement, anticipating price direction based on its ebbs and flows (ie. swings, cycles, etc.). Fundamental factors of any asset is built into price action, as the market discounts everything. In addition, history tends to repeat itself and this repetitive nature of price action can be anticipated and taken advantage of.
Many technicians rely on various indicators that help expose some aspect of historical price data for the use of timing. Where one indicator might highlight some underlying cycle pattern that could help anticipate the next trend change period, another indicator might highlight a markets overbought or oversold condition, all relative to past price action.
The technical analyst relies heavily on price charts. Certain patterns often repeat giving the technician a heads-up to a potential price break. Such patterns are given names, such as the ‘Head-and-sholders’ pattern, the ‘wedge’ or ‘flag’ formation, etc. All of these technical approaches are useful to some degree.
Precise market timing is crucial in today’s volatile markets. Without greater precision in timing, the trader is exposed to a higher degree of risk and can leave more profit on the table.
Let me illustrate this.
For the sake of discussion, suppose that the price range of each trading day is 50 points. If your allowable risk exposure (how far you will allow the market to move against your position) is 50 points, you must enter the market on the exact day you expect the move to start in your favor to avoid being stopped out with a loss. If your allowable risk exposure is 100 points, you must be accurate in your timing within +/- one day to avoid getting stopped out with a loss. This highlights the importance of precision market timing.
Now in the real world, each day the price range varies from the next. Depending on how effective your market timing approach happens to be, you may be able to risk less than the average range in points. The less precise your market timing approach happens to be, the more you should initially risk on the trade.
While market timing itself can be loosely done using standard technical indicators, trend lines and moving averages, precision market timing is achievable with good market forecasting methods. Market forecasting for market timing purposes is extremely effective because, unlike most technical indicators that are ‘leading’ or ‘lagging’ in nature, a good market forecasting method can forecast a market turn to an exact day of a trend change. Giving any market forecasting method a small deviation allowance of +/- one day can give any trader an incredible edge in predicting market turns for the purpose of precision market timing and trading.
Some traders are historical legends having used market forecasting methods for precision market timing purposes. Who has not heard of William Delbert Gann (better known as WD Gann)? This financial trader is famous for developing several technical approaches, such as the use of Gann angles or the trend indicator. His forecasting methods included the use of the Square of Nine, cycle analysis and market geometry. By using ‘market forecasting’ tools such as these and others, he is famously reported to have many times turned a small amount of money into a large amount rather quickly.
So there are two main points that I hope you have garnered by reading this article. Point #1 is that in order to better manage your risk exposure and maximize your profit potential, the more precise you need to be with your market timing approach. Point #2 is that the most precise way to time the markets is to take advantage of market forecasting techniques, where often you can time your trades to the exact day of a new move.
There are many market forecasting secrets, methods and techniques that you can learn right now to improve your market timing. Some are good, some not so good. I have spent over three decades learning, testing and discovering market forecasting approaches. When I started, there was not much available as there are today. So it has definitely seen some growth over the years and therefore you should have no problem finding the approaches that will fit your style of trading and investing.
Are you willing to invest in a more long-term and reliable organic traffic source for your website? Then let’s look at a search engine that can assist you in increasing your traffic.
Interview an Influencer or Get Interviewed by a High-traffic Website
Have you heard of Tim Ferriss, the author of the Four-Hour Work Week?
His podcast is nowadays a staple content type that he provides to his viewers. Tim’s show has world-class performers who share their insights on a variety of topics, and he is well-liked on social media. Do Tim’s fans enjoy the show? So far, the show has received over 50 million downloads. On most days, it’s the most popular business podcast on iTunes.
Interviews, whether on video or audio, are inherently conversational, lively, and engaging. The great aspect is that it’s a win-win situation for both sides. The interviewer is exposed to a new audience, while the interviewee is able to provide his website visitors with new fascinating and authoritative information. You can ask an industry influencer to share your interview with their followers on social media if you interview them. Consider the organic traffic you’ll get from their social media followers, which number in the hundreds of thousands. Consider the level of interest generated by a prior Derek Sivers interview on the Tim Ferriss Show. Derek shared the show’s URL with his 283K followers on Twitter. It won’t hurt if you establish a relationship with the influencer as a result of the interview.
Similarly, being interviewed by a high-ranking website can result in a significant increase in search engine traffic. Harsh Agrawal’s blog, Shoutmeloud, received 35,000+ views in a single day after he was profiled by YourStory. That was the blog’s most popular search engine traffic source (with 600,000+ monthly visitors). Because interviews provide consolidated value, they can be used as a long-term lead generating source for your company. Consider how many bloggers you’ve learned about through interviews on YouTube and other high-authority websites.
You may also conduct a Reddit AMA if you have a very compelling storey to tell. Mateen’s AMA got about generating $85,000 in profit by selling TeeSpring shirts/hoodies received 2000 page views. He also boosted the number of visitors to his website on a daily basis.
By registering as a source with HARO, you can also answer queries from journalists. On HARO, Christopher from Snappa came across this question from Inc Magazine about the future of content marketing. He swiftly responded with a thorough response. He was mentioned in Inc a few weeks later as a result of this. HARO is an excellent strategy to have your brand mentioned on authoritative news sites such as Entrepreneur and Inc. Those backlinks will enhance your search engine traffic and increase your marketing strategy by improving your reputation in Google’s eyes. Contact an SEO agency to find out how you can do this and how they can manage it for you while you work on the bottom line of your business.