Types of Binary Bet: Daily/Hourly
One of the most common bases on which binary bets are offered is over the course of the trading day, known as ‘daily’ bets. Daily bets, in contrast to hourly bets, examine the movement of the markets over the course of the trading day from the point at which the trader enters the market. While this leaves much scope for markets to fluctuate, it can also be a valuable trading style insofar as it provides a degree of insulation against intraday fluctuations in the market which can be caused by any number of external reasons.
A daily bet sets up the proposition that by the close of play the market will either finish up or down. For traders relying on the external factors that drive market performance, daily bets often set them up with the scope to fully realize their forecast movements, protecting against temporary blips in pricing that can cause problems for binaries taken over a shorter period of time.
Another common type of binary bet is the hourly bet, which is effectively the same as the daily bet with the exception that it operates on a much shorter timescale. Hourly bets, as the name suggests, take place over the frame of a given hour, such that when the hour closes the bet is settled up or down to 100 or 0. This is perfect for traders with a shorter-term outlook who are interested in scalping their profits and moving on to another trade, and allows traders to capitalize on particular announcements as they impinge on market performance where otherwise the day’s trading might see the market fall.
Of course, deciding on whether to opt for a daily or hourly bet is entirely dependent on the circumstances that present themselves, and for the trader looking to leverage binary betting to the fullest extent, having a command of both mediums is particularly handy.
It may well be the case that an hourly bet presents better odds, given that the volatility in the markets can make it less easy to forecast than daily trading performance, or perhaps the short-term volatility could make a day bet a more attractive, more prudent option. Either way, having a working knowledge of daily and hourly binaries can pay dividends when it comes to trading for real.