Videos How To Trade Binary Options

Welcome to the largest skillful guide to binary options and binary trading online.
BinaryOptions.net has educated traders globally since 2011 and all our articles are written by professionals who make a living in the finance manufacture and online trading.

Nosotros have close to a thousand articles and reviews to guide you to be a more profitable trader in 2022 no matter what your electric current feel level is.

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Forex Binary Options

What Is A Binary Option And How Do Y’all Brand Money?

A binary option is a fast and extremely elementary financial instrument which allows investors to speculate on whether the price of an asset will become upwards or down in the time to come, for instance the stock price of Google, the toll of Bitcoin, the USD/GBP exchange rate, or the price of gold.

The time bridge can be as little equally lx seconds, making it possible to merchandise hundreds of times per mean solar day across any global market.

Before you lot place a trade you know exactly how much you stand up to proceeds if your prediction is right, usually 70-95% – if you invest $100 you will receive a credit of $170 – $195 on a successful trade.

This makes risk direction and trading decisions much more than simple. You lot too know exactly how much you will lose on a single merchandise.

The issue is always a Yes or No answer – you either win it all or you lose information technology all – hence it being a “binary” option. The risk and reward is known in accelerate and this structured payoff is one of the attractions.

Exchange traded binaries are also now available, meaning traders are non trading against the broker.

To get started trading you first need a regulated broker account (or licensed). Pick one from the recommended brokers listing, where only brokers that accept shown themselves to be trustworthy are included. The peak broker has been selected as the all-time option for most traders.

If y’all are completely new to binary options you can open a demo account with about brokers, to endeavor out their platform and see what it’s like to trade earlier you eolith real money.

Introduction Video – How to Trade Binary Options

These videos will introduce y’all to the concept of binary options and how trading works. If you want to know even more particular, delight read this whole page and follow the links to all the more in-depth articles.

Binary trading does not have to be complicated, but as with any topic you can brainwash yourself to be an practiced and perfect your skills.

Selection Types

The near common type of binary option is the simple “Up/Downwards” trade. At that place are all the same, dissimilar types of option. The one common factor, is that the upshot will have a “binary” event (Yes or No). Hither are some of the types bachelor:

• Up/Downwardly or High/Depression
  – The basic and most common binary pick. Will a cost finish higher or lower than the electric current toll a the time of expiry.
• In/Out, Range or Boundary
  – This option sets a “high” effigy and “low” effigy. Traders predict whether the cost will end within, or outside, of these levels (or ‘boundaries’).
• Touch/No Affect
  – These have gear up levels, college or lower than the current cost. The trader has to predict whether the actual price will ‘touch’ those levels at whatever point betwixt the time of the merchandise an expiryNote with a touch on option, that the trade tin can close before the expiry time – if the cost level is touched before the option expires, then the “Touch” option will payout immediately, regardless of whether the cost moves away from the touch level afterwards.
• Ladder
  – These options carry like a normal Up/Down merchandise, merely rather than using the electric current strike toll, the ladder will accept preset toll levels (‘laddered’ progressively up or downwards).These can often be some way from the current strike price.As these options generally need a significant price move, payouts volition often become beyond 100% – but both sides of the trade may not be available.

How to Trade – Step past Step Guide

Below is a stride by pace guide to placing a binary trade:

1. Choose a broker
   – Utilize our broker reviews and comparison tools to find the all-time binary trading sitefor you.
2. Select the asset or market to trade
   – Assets lists are huge, and cover Commodities, Stocks, Cryptocurrency, Forex or Indices. The price of oil, or the Apple stock price, for example.
3. Select the expiry time
   – Options tin elapse anywhere between 30 seconds up to a yr.
4. Fix the size of the trade
   – Retrieve 100% of the investment is at risk so consider the trade corporeality carefully.
5. Click Phone call / Put or Purchase / Sell – Will the asset value ascension or autumn? Some banker label buttons differently.
6. Cheque and confirm the trade – Many brokers give traders a chance to ensure the details are correct before confirming the trade.

Choose A Broker

Options fraud has been a significant problem in the past. Fraudulent and unlicensed operators exploited binary options every bit a new exotic derivative.

These firms are thankfully disappearing as regulators have finally begun to deed, but traders still need to await for regulated brokers.

Annotation!
Don’t Ever trade with a broker or use a service that’s on our blacklist and scams page, stick with the ones we recommend here on the site. Hither are some shortcuts to pages that can help you lot determine which broker is right for yous:

• Compare all brokers  – if you lot want to compare the features and offers of all recommended brokers.
• Bonuses and Offers  – if y’all want to make sure you become actress money to trade with, or other promotions and offers.
• Low minimum deposit brokers – if you want to merchandise for real without having to eolith large sums of money.
• Demo Accounts – if you desire to endeavour a trading platform “for real” without depositing coin at all.
• Halal Brokers  – if you are ane of the growing number of Muslim traders.

Asset Lists

The number and multifariousness of assets you can merchandise varies from broker to broker. Most brokers provide options on popular assets such as major forex pairs including the EUR/USD, USD/JPY and GBP/USD, every bit well as major stock indices such as the FTSE, Due south&P 500 or Dow Jones Industrial. Bolt including gold, argent, oil are also generally offered.

Individual stocks and equities are also tradable through many binary brokers. Not every stock will be available though, just generally yous tin choose from most 25 to 100 popular stocks, such as Google and Apple.

These lists are growing all the time as demand dictates.

The asset lists are always listed clearly on every trading platform, and almost brokers make their full asset lists available on their website.

This information is also available within our reviews, including currency pairs.

Trading cryptocurrency via binary trades is also booming. The volatile nature of cryptos makes them a popular binary nugget. Bitcoin and Ethereum remain the most traded, but you lot tin can find brokers that list l or more alt coins.

Decease Times

The expiry time is the bespeak at which a trade is closed and settled. The only exception is where a ‘Touch’ option has hitting a preset level prior to expiry. The expiry for whatsoever given trade can range from 30 seconds, up to a year.

While binaries initially started with very short expiries, demand has ensured in that location is now a broad range of decease times bachelor. Some brokers even requite traders the flexibility to set their ain specific death time.

Expiries are mostly grouped into three categories:

• Short Term / Turbo
  – These are unremarkably classed as any expiry nether 5 minutes
• Normal
  – These would range from five minutes, upwardly to ‘end of solar day’ expiries which expire when the local market for that asset closes.
• Long term
  – Whatsoever expiry beyond the end of the 24-hour interval would be considered long term. The longest death might exist 12 months.

Regulation

While dull to react to binary options initially, regulators around the earth are at present starting to regulate the industry and make their presence felt. The major regulators currently include:

• Financial Deport Authority (FCA) – UK regulator
• Cyprus Securities and Substitution Commission (CySec) – Cyprus Regulator, often ‘passported’ throughout the EU, under MiFID
• Commodity Futures Trading Commission (CFTC) – US regulator
• Australian Securities and Investments Commission (ASIC)
• Financial Industry Regulatory Authority (FINRA)

There are also regulators operating in Republic of malta, Japan and the Island of Man. Many other authorities are now taking a dandy a interest in binaries specifically, notably in Europe where domestic regulators are not bad to bolster the CySec regulation.

Unregulated brokers still operate, and while some are trustworthy, a lack of regulation is a clear warning sign for potential new customers.

ESMA

Recently,
ESMA
(European Securities and Markets Authority) moved to ban the sale and marketing of binary options in the Eu. The ban however, only applies to brokers regulated in the EU.

This leaves traders ii choices to continue trading: Firstly, they can trade with an unregulated firm – this is extremely high take a chance and not advisable. Some unregulated firms are responsible and honest, just many are non.

The 2d choice is to use a firm regulated by bodies outside of the EU. ASIC in Australia are a strong regulator – but they volition non be implementing a ban. This means ASIC regulated firms can still accept Eu traders. Meet our broker lists for regulated or trusted brokers in your region.

There is as well a tertiary option. Traders who register as ‘professional’ are exempt from the new ban. The ban is just designed to protect ‘retail’ investors.

A professional trader can go on trading at EU regulated brokers such as IQ Option. To be classed as professional, an account holder must meet two of these three criteria:

1. Open x or more trades per quarter, of €150 or more.
2. Have assets of €500,000 or more than
3. Have worked for two years in a financial house and have experience of fiscal products.

Strategies and Guides

We accept a lot of detailed guides and strategy manufactures for both full general education and specialized trading techniques. Beneath are a few to go y’all started if yous want to acquire the bones before you start trading. From Martingale to Rainbow, you can find plenty more on the strategy page.

• The best binary options books
• Goals for New Binary Traders
• Binary Options Jargon Yous Should Know
• How to Get a Binary Options Millionaire
• Trading times
• How to Merchandise Stocks
• Unproblematic Strategies for Newbies
• The After Hours Trading Strategy
• The Unproblematic Balanced System
• Trader Beware! Is That A Tool Or A Strategy?
• Introduction to trends and timeframes
• Trend assay for short term traders
• Three Tools All Traders Should Know
• How To Trade Butterfly Patterns
• Binary Options Markets

Signals and Other Services

• What should you look for when searching for a strategy, arrangement or service?
• Even Skilful SSP’south Aren’t Worth Your Time

For further reading on signals and reviews of different services go to the signals folio.

Beginners Guides

If you are totally new to the trading scene then spotter this peachy video past Professor Shiller of Yale University who introduces the principal ideas of options:

Education for beginners:

• Lesson ane: Best Time to Trade
• Lesson two: Tools for Trading
• Lesson iii: Trading Breakouts using Pivot Points
• Lesson iv: How to Utilise the Fibonacci Tool
• Lesson 5: Risk Direction
• Lesson 6: Variable Binary Options
• Lesson 7: How to Postpone Expiration Times
• Lesson 8: When Not to Trade
• Lesson ix: Going Mobile
• Lesson 10: Using the FX Helpers Arrangement
• Lesson xi: Using the FX Turbo Marksman Indicator
• Lesson 12: Analysing a Trade

Types of Trades

• Touch/No Touch on
• Target Bet
• Ladder Bet
• Tunnel Bet
• High/Low

How to Set Up a Trade

The ability to trade the different types of binary options can be accomplished by understanding certain concepts such as strike cost or price bulwark, settlement, and expiration appointment. All trades have dates at which they expire.

When the trade expires, the behaviour of the price action co-ordinate to the blazon selected volition determine if it’s in profit (in the coin) or in a loss position (out-of-the-money).

In add-on, the toll targets are key levels that the trader sets as benchmarks to make up one’s mind outcomes. We will see the application of toll targets when we explain the different types.

There are 3 types of trades. Each of these has different variations. These are:

1. High/Low
2. In/Out
3. Touch/No Touch on

Let us take them ane after the other.

High/Low

Also called the Upwards/Down binary trade, the essence is to predict if the market price of the asset will end up higher or lower than the strike price (the selected target price) before the expiration. If the trader expects the price to get upwards (the “Up” or “High” trade), he purchases a call selection. If he expects the toll to head downwards (“Depression” or “Down”), he purchases a put option. Decease times can be every bit low as 5 minutes.

Delight note: some brokers classify Up/Down as a dissimilar types, where a trader purchases a phone call pick if he expects the cost to rise across the current price, or purchases a put option if he expects the price to fall beneath current prices. Y’all may encounter this as a
Rise/Autumn blazon on some trading platforms.

In/Out

The In/Out blazon, too called the “tunnel merchandise” or the “boundary trade”, is used to merchandise price consolidations (“in”) and breakouts (“out”). How does it work? First, the trader sets 2 toll targets to grade a price range. He then purchases an option to predict if the price will stay inside the price range/tunnel until expiration (In) or if the price volition breakout of the price range in either direction (Out).

The best way to apply the tunnel binaries is to use the pin points of the asset. If you are familiar with pivot points in forex, then you should exist able to trade this type.

Touch/No Touch on

This type is predicated on the price activity touching a price barrier or not. A “Touch” option is a type where the trader purchases a contract that will evangelize profit if the market price of the asset purchased touches the set target price at least once before death.

If the price action does not touch the cost target (the strike price) earlier expiry, the trade will end up equally a loss.

A “No Touch” is the exact contrary of the Touch. Hither you are betting on the cost activity of the underlying nugget non touching the strike cost before the expiration.

In that location are variations of this type where we have the Double Touch and Double No Impact. Here the trader can gear up 2 price targets and buy a contract that bets on the price touching both targets before expiration (Double Touch on) or non touching both targets before expiration (Double No Touch).

Normally y’all would only use the Double Touch merchandise when there is intense market volatility and prices are expected to take out several price levels.

Some brokers offer all 3 types, while others offer two, and at that place are those that offer only one multifariousness. In addition, some brokers also put restrictions on how expiration dates are set.

In order to become the all-time of the different types, traders are advised to store effectually for brokers who volition requite them maximum flexibility in terms of types and expiration times that can be ready.

Mobile Apps

Trading via your mobile has been made very easy equally all major brokers provide fully developed mobile trading apps. Most trading platforms have been designed with mobile device users in heed.

And so the mobile version volition be very similar, if not the same, as the full web version on the traditional websites.

Brokers will cater for both iOS and Android devices, and produce versions for each. Downloads are quick, and traders can sign upwards via the mobile site as well.

Our reviews contain more than detail about each brokers mobile app, simply most are fully aware that this is a growing area of trading.

Traders want to react immediately to news events and market updates, and so brokers provide the tools for clients to trade wherever they are.

Trading FAQ

What Does Binary Options Mean?

“Binary options” means, put very simply, a merchandise where the result is a ‘binary’ Yes/No reply. These options pay a fixed amount if they win (known as “in the money”), but the entire investment is lost, if the binary trade loses. So, in brusque, they are a form of fixed return fiscal options.

How Does a Stock Trade Piece of work?

Steps to trade a stock via a binary option;

1. Select the stock or equity.
2. Identify the desired expiry fourth dimension (The time the choice will finish).
3. Enter the size of the trade or investment
4. Make up one’s mind if the value will rise or fall and place a put or call

The steps in a higher place will be the aforementioned at every single banker. More layers of complexity can exist added, just when trading equities the simple Up/Down merchandise type remains the almost popular.

Put and Call Options

Call and Put are only the terms given to buying or selling an option. If a trader thinks the underlying price will go upwardly in value, they can open a call. Merely where they wait the toll to go down, they can place a put trade.

Different trading platforms label their trading buttons unlike, some fifty-fifty switch betwixt Buy/Sell and Call/Put. Others drop the phrases put and call altogether.

Almost every trading platform will arrive absolutely clear which management a trader is opening an choice in.

Are Binary Options a Scam?

Every bit a financial investment tool they in themselves not a scam, but there are brokers, trading robots and signal providers that are untrustworthy and dishonest.

The point is not to write off the concept of binary options, based solely on a handful of dishonest brokers.

The paradigm of these fiscal instruments has suffered as a effect of these operators, but regulators are slowly starting to prosecute and fine the offenders and the manufacture is being cleaned up. Our forum is a great place to enhance awareness of any wrongdoing.

These elementary checks can aid anyone avoid the scams:

• Marketing promising huge returns. This is clear warning sign. Binaries are a loftier take chances / high reward tool – they are not a “brand money online” scheme and should not be sold equally such. Operators making such claims are very probable to be untrustworthy.
• Know the broker. Some operators will ‘funnel’ new customer to a broker they partner with, so the person has no idea who their account is with. A trader should know the broker they are going to trade with! These funnels frequently fall into the “go rich quick” marketing discussed before.
• Cold Calls. Professional brokers volition not make cold calls – they practice not market themselves in that style. Cold calls will often exist from unregulated brokers interested merely in getting an initial eolith. Continue extremely advisedly if joining a visitor that got in contact this way. This would include electronic mail contact equally well – whatever course of contact out of the bluish.
• Terms and Conditions. When taking a bonus or offering, read the total terms and conditions. Some will include locking in an initial deposit (in addition to the bonus funds) until a high volume of trades take been made. The offset deposit is the trader’due south cash – legitimate brokers would not claim it every bit theirs before any trading. Some brokers also offer the option of cancelling a bonus if it does not fit the needs of the trader.
• Do not let anyone trade for yous. Avert assuasive whatever “account managing director” to trade for y’all. There is a clear disharmonize of interest, but these employees of the broker will encourage traders to make large deposits, and take greater risks . Traders should non let anyone merchandise on their behalf.

Which Are The Best Trading Strategies?

Binary trading strategies are unique to each merchandise. We have a strategy section, and at that place are ideas that traders can experiment with. Technical assay is of use to some traders, combined with charts, indicators and cost action inquiry.

Money management is essential to ensure risk management is practical to all trading. Different styles will suit unlike traders and strategies will as well evolve and change.

There is no single “best” strategy. Traders need to ask questions of their investing aims and chance appetite and then learn what works for them.

Are Binary Options Gambling?

This will depend entirely on the habits of the trader. With no strategy or research, and so any short term investment is going to win or lose based only on luck. Conversely, a trader making a well researched merchandise will ensure they accept done all they can to avoid relying on good fortune.

Binary options can be used to gamble, only they tin also be used to brand trades based on value and expected profits. So the answer to the question will come up down to the trader.

Advantages of Binary Trading

The main benefit of binaries is the clarity of risk and reward and the structure of the trade.

Managing Fiscal Chance

If you have traded forex or its more than volatile cousins, rough oil or spot metals such as golden or silver, you lot will take probably learnt one thing: these markets deport a lot of risk and it is very like shooting fish in a barrel to be blown off the market.

Things like leverage and margin, news events, slippages and price re-quotes, etc can all affect a trade negatively. The situation is different in binary options trading.

There is no leverage to contend with, and phenomena such every bit slippage and toll re-quotes take no event on binary option trade outcomes.

Tax implications may besides be beneficial, depending on your location.

This reduces the gamble in binary option trading to the barest minimum.

Flexibility

The binary options market allows traders to trade financial instruments spread across the currency and commodity markets besides every bit indices and bonds.

This flexibility is unparalleled, and gives traders with the knowledge of how to trade these markets, a ane-finish shop to merchandise all these instruments.

Simplicity

A binary trade result is based on simply one parameter: direction. The trader is essentially betting on whether a financial asset will end up in a particular management.

In add-on, the trader is at liberty to determine when the trade ends, past setting an expiry date.

This gives a merchandise that initially started badly the opportunity to end well. This is non the case with other markets. For example, control of losses can only exist achieved using a stop loss.

Otherwise, a trader has to endure a drawdown if a trade takes an adverse turn in society to give it room to turn profitable. The unproblematic point beingness made here is that in binary options, the trader has less to worry about than if he were to trade other markets.

Greater Control Of Trades

Traders accept amend control of trades in binaries. For example, if a trader wants to buy a contract, he knows in advance, what he stands to gain and what he will lose if the trade is out-of-the-money.

This is not the case with other markets. For instance, when a trader sets a pending guild in the forex market to merchandise a loftier-impact news event, there is no assurance that his trade will be filled at the entry cost or that a losing merchandise volition be closed out at the exit finish loss.

Higher Payouts

The payouts per trade are unremarkably higher in binaries than with other forms of trading. Some brokers offer payouts of up to 80% on a merchandise. This is achievable without jeopardising the account.

In other markets, such payouts can only occur if a trader disregards all rules of money management and exposes a large amount of trading uppercase to the market, hoping for one big payout (which never occurs in most cases).

Accessibility

In gild to trade the highly volatile forex or bolt markets, a trader has to have a reasonable corporeality of money every bit trading upper-case letter. For case, trading gold, a article with an intra-mean solar day volatility of up to x,000 pips in times of high volatility, requires trading capital letter in tens of thousands of dollars.

Still, binary options has much lower entry requirements, equally some brokers let people to get-go trading with as low as $10.

Disadvantages of Binary Trading

Reduced Trading Odds for Sure-Broker Trades

The payouts for binary options trades are drastically reduced when the odds for that trade succeeding are very high.

While it is true that some trades offer as much equally 85% payouts per merchandise, such loftier payouts are possible only when a trade is fabricated with the decease date ready at some distance abroad from the engagement of the trade.

Of course in such situations, the trades are more unpredictable.

Lack Of Skilful Trading Tools

Some brokers practice not offer truly helpful trading tools such every bit charts and features for technical analysis to their clients.

Experienced traders can get around this by sourcing for these tools elsewhere; inexperienced traders who are new to the market are not as fortunate.

This is changing for the better though, every bit operators mature and become aware of the need for these tools to concenter traders.

Limitations On Take chances Management

Unlike in forex where traders can get accounts that allow them to merchandise mini- and micro-lots on pocket-size account sizes, many binary option brokers set a trading flooring; minimum amounts which a trader tin trade in the marketplace.

This makes information technology easier to lose too much uppercase when trading binaries. Every bit an illustration, a forex broker may allow you to open an business relationship with $200 and trade micro-lots, which allows a trader to expose only acceptable amounts of his uppercase to the market.

However, yous will be difficult put finding many binary brokers that will allow you to trade below $50, even with a $200 account. In this situation, 4 losing trades will blow the account.

Cost Of Losing Trades

Different in other markets where the risk/reward ratio tin can be controlled and fix to give an edge to winning trades, the odds of binary options tilt the risk-reward ratio in favour of losing trades.

Trade Corrections

When trading a marketplace like the forex or commodities market, it is possible to shut a trade with minimal losses and open another profitable 1, if a repeat analysis of the trade reveals the first trade to take been a mistake. Where binaries are traded on an substitution, this is mitigated however.

Spot Forex vs Binary Trading

These are ii unlike alternatives, traded with two different psychologies, but both can make sense as investment tools. One is more TIME axial and the other is more PRICE centric. They both work in time/toll but the focus you will find from one to the other is an interesting split.

Spot forex traders might overlook time every bit a factor in their trading which is a very very big mistake. The successful binary trader has a more balanced view of time/price, which simply makes him a more well rounded trader.

Binaries past their nature strength one to exit a position inside a given time frame win or lose which instills a greater focus on field of study and take chances management.

In forex trading this lack of discipline is the #i cause for failure to virtually traders as they volition merely hold losing positions for longer periods of time and cut winning positions in shorter periods of fourth dimension.

In binary options that is not possible every bit time expires your trade ends win or lose. Below are some examples of how this works.

Above is a trade made on the EUR/USD ownership in an under 10 infinitesimal window of price and time. As a binary trader this focus will naturally make you better than the below example, where a spot forex trader who focuses on price while ignoring the time element ends up in trouble. This psychology of being able to focus on limits and the dual axis will aid yous in becoming a better trader overall.

The very advantage of spot trading is its very same failure – the expansion of profits exponentially from 1 point in cost.

This is to say that if you enter a position that you believe volition increment in value and the price does not increase notwithstanding accelerates to the downside, the normal tendency for almost spot traders is to await information technology out or worse add to the losing positions as they effigy information technology volition come back.

The dispatch in time to the reverse desired direction causes most spot traders to exist trapped in unfavourable positions, all because they do not programme time into their reasoning, and this leads to a complete lack of trading discipline.

The nature of binary options force one to accept a more than complete mindset of trading off both Y = Price Range and X = Fourth dimension Range as limits are applied. They will simply brand you a ameliorate overall trader from the start.

Conversely on the flip side, they by their nature require a greater win rate equally each bet ways alxx-90% gain
vs a100% loss. So your win charge per unit needs to be on average 54%-58% to break even.

This imbalance causes many traders to overtrade or revenge trade which is just equally bad as property/calculation to losing positions as a spot forex trader. To successfully trade y’all need to practise coin management and emotional control.

In conclusion, when starting out as a trader, binaries might offer a better foundation to learn trading. The simple reasoning is that the focus on Fourth dimension/Toll combined is like looking both ways when crossing the street.

The average spot forex trader only looks at price, which means he is but looking in one direction before crossing the street.

Learning to trade taking both fourth dimension and price into consideration should aid in making i a much overall trader.

References And Further Reading

1. A Report of Optimal Stock and Options Strategies (Dash, Mihir and V., Kavitha and K.M., Deepa and S., Sindhu, 2007)
2. Is There Money to Be Made Investing in Options: A Historical Perspective (Doran, James and Fodor, Andy, 2006)
3. An Investor’s Guide to Trading Options (Virginia B. Morris, Bess Newman – Lightbulb Press, Inc., 2004)
4. Trading Binary Options: Strategies and Tactics (Abe Cofnas – John Wiley & Sons, 2011)
5. Binary Options: Stock-still Odds Financial Bets (Hamish Raw – Harriman House Limited, 2011)
6. Binary Options: Strategies for Directional and Volatility Trading (Alex Nekritin – John Wiley & Sons, 2012)
7. How to Trade Binary Options Successfully: A Complete Guide to Binary Options Trading (Meir Liraz – Liraz Publishing)
8. Option Trading and Private Investor Operation (R Bauer, One thousand Cosemans, P Eichholtz – Journal of banking & finance, Vol iii Issue 4, 2009)
9. Binary Choice Pricing Using Fuzzy Numbers (A Thavaneswaran, S.S Appadoo, J Frank – Practical Mathematics Letters, Vol 26, Issue 1, 2013)