When To Buy Binary Options

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

We take close to a thousand manufactures and reviews to guide you to be a more profitable trader in 2022 no matter what your current experience level is.

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Forex Binary Options

What Is A Binary Option And How Do You Make Money?

A binary option is a fast and extremely simple financial instrument which allows investors to speculate on whether the cost of an asset will get upwards or down in the future, for example the stock price of Google, the toll of Bitcoin, the USD/GBP commutation rate, or the price of gold.

The fourth dimension span can exist as niggling every bit 60 seconds, making it possible to trade hundreds of times per day across any global market.

Earlier you lot place a merchandise you lot know exactly how much you lot stand to gain if your prediction is correct, usually 70-95% – if yous invest $100 you lot will receive a credit of $170 – $195 on a successful trade.

This makes run a risk management and trading decisions much more than uncomplicated. You also know exactly how much you will lose on a single merchandise.

The outcome is e’er a Yes or No answer – yous either win it all or yous lose it all – hence it existence a “binary” option. The risk and advantage is known in advance and this structured payoff is one of the attractions.

Exchange traded binaries are also now available, meaning traders are not trading against the broker.

To get started trading y’all get-go demand a regulated broker account (or licensed). Option ane from the recommended brokers list, where only brokers that have shown themselves to be trustworthy are included. The height banker has been selected as the best pick for most traders.

If y’all are completely new to binary options you lot can open a demo account with most brokers, to try out their platform and see what it’south similar to trade before you deposit real money.

Introduction Video – How to Merchandise Binary Options

These videos volition introduce you to the concept of binary options and how trading works. If you lot want to know even more item, please read this whole page and follow the links to all the more in-depth articles.

Binary trading does not have to exist complicated, but equally with any topic you can educate yourself to exist an practiced and perfect your skills.

Choice Types

The near common type of binary pick is the simple “Up/Down” trade. There are however, different types of option. The one common factor, is that the issue will have a “binary” effect (Yes or No). Here are some of the types available:

• Up/Downwards or High/Depression
  – The basic and most common binary option. Volition a price end higher or lower than the electric current price a the fourth dimension of death.
• In/Out, Range or Boundary
  – This option sets a “high” effigy and “depression” effigy. Traders predict whether the price volition finish within, or outside, of these levels (or ‘boundaries’).
• Touch on/No Touch
  – These have set levels, higher or lower than the electric current price. The trader has to predict whether the actual price will ‘touch’ those levels at any point between the time of the trade an expiryNote with a touch option, that the merchandise tin close before the death time – if the price level is touched earlier the selection expires, then the “Touch” choice volition payout immediately, regardless of whether the price moves away from the affect level afterwards.
• Ladder
  – These options behave like a normal Upward/Down trade, but rather than using the electric current strike price, the ladder will accept preset price levels (‘laddered’ progressively upwardly or downwards).These tin oft exist some way from the current strike price.As these options generally demand a pregnant cost motility, payouts volition oft get beyond 100% – but both sides of the trade may not be available.

How to Merchandise – Step by Step Guide

Beneath is a step by step guide to placing a binary trade:

1. Choose a broker
   – Utilize our banker reviews and comparing tools to notice the best 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 tree stock price, for example.
3. Select the expiry time
   – Options tin expire anywhere between 30 seconds upward to a twelvemonth.
4. Prepare the size of the merchandise
   – Call up 100% of the investment is at chance and then consider the trade amount carefully.
5. Click Call / Put or Buy / Sell – Volition the asset value ascent or fall? Some broker label buttons differently.
6. Check and confirm the merchandise – Many brokers give traders a chance to ensure the details are right before confirming the trade.

Choose A Broker

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

These firms are thankfully disappearing as regulators accept finally begun to act, but traders notwithstanding demand to await for regulated brokers.

Note!
Don’t EVER trade with a broker or use a service that’s on our blacklist and scams page, stick with the ones nosotros recommend hither on the site. Here are some shortcuts to pages that can help you determine which broker is right for you:

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

Nugget Lists

The number and diversity of assets you can trade varies from banker to broker. Most brokers provide options on popular assets such as major forex pairs including the EUR/USD, USD/JPY and GBP/USD, besides equally major stock indices such as the FTSE, S&P 500 or Dow Jones Industrial. Bolt including gold, silver, oil are also by and large offered.

Individual stocks and equities are also tradable through many binary brokers. Not every stock will be available though, but generally you lot tin can cull from near 25 to 100 popular stocks, such as Google and Apple.

These lists are growing all the fourth dimension as demand dictates.

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

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

Trading cryptocurrency via binary trades is also booming. The volatile nature of cryptos makes them a popular binary asset. Bitcoin and Ethereum remain the nigh traded, only you tin can detect brokers that list fifty or more than alt coins.

Expiry Times

The expiry time is the point at which a trade is closed and settled. The only exception is where a ‘Bear upon’ choice has hit a preset level prior to expiry. The decease for whatever given trade can range from thirty seconds, up to a yr.

While binaries initially started with very short expiries, need has ensured there is now a wide range of death times bachelor. Some brokers even give traders the flexibility to prepare their ain specific decease time.

Expiries are generally grouped into iii categories:

• Brusk Term / Turbo
  – These are ordinarily classed equally whatever expiry under 5 minutes
• Normal
  – These would range from 5 minutes, up to ‘end of day’ expiries which expire when the local market for that asset closes.
• Long term
  – Any decease beyond the stop of the day would be considered long term. The longest decease might exist 12 months.

Regulation

While slow to react to binary options initially, regulators around the world are now starting to regulate the industry and make their presence felt. The major regulators currently include:

• Fiscal Carry Authorization (FCA) – United kingdom regulator
• Cyprus Securities and Substitution Commission (CySec) – Republic of cyprus Regulator, ofttimes ‘passported’ throughout the EU, under MiFID
• Commodity Futures Trading Commission (CFTC) – Us regulator
• Australian Securities and Investments Commission (ASIC)
• Financial Industry Regulatory Authority (FINRA)

In that location are also regulators operating in Malta, Japan and the Isle of Man. Many other authorities are at present taking a bully a involvement in binaries specifically, notably in Europe where domestic regulators are keen to bolster the CySec regulation.

Unregulated brokers even so 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 Dominance) moved to ban the auction and marketing of binary options in the EU. The ban however, only applies to brokers regulated in the European union.

This leaves traders two choices to go on trading: Firstly, they tin can trade with an unregulated firm – this is extremely high take chances and non advisable. Some unregulated firms are responsible and honest, only many are non.

The 2d pick is to use a firm regulated by bodies outside of the European union. ASIC in Australia are a potent regulator – but they volition not exist implementing a ban. This means ASIC regulated firms tin can still accept Eu traders. See our broker lists for regulated or trusted brokers in your region.

There is also a 3rd option. Traders who annals as ‘professional’ are exempt from the new ban. The ban is simply designed to protect ‘retail’ investors.

A professional trader tin go on trading at Eu regulated brokers such as IQ Choice. To be classed as professional, an account holder must run across ii of these three criteria:

1. Open 10 or more trades per quarter, of €150 or more.
2. Take assets of €500,000 or more than
3. Have worked for two years in a fiscal firm and accept experience of financial products.

Strategies and Guides

Nosotros have a lot of detailed guides and strategy articles for both general instruction and specialized trading techniques. Below are a few to get you started if yous desire to learn the bones before you offset trading. From Martingale to Rainbow, you tin find plenty more on the strategy page.

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

Signals and Other Services

• What should you look for when searching for a strategy, system or service?
• Fifty-fifty Expert 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 yous are totally new to the trading scene then picket this bully video by Professor Shiller of Yale Academy who introduces the main ideas of options:

Education for beginners:

• Lesson 1: Best Time to Merchandise
• Lesson two: Tools for Trading
• Lesson 3: Trading Breakouts using Pivot Points
• Lesson iv: How to Use 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 9: Going Mobile
• Lesson ten: Using the FX Helpers Organisation
• Lesson 11: Using the FX Turbo Marksman Indicator
• Lesson 12: Analysing a Trade

Types of Trades

• Touch/No Bear upon
• Target Bet
• Ladder Bet
• Tunnel Bet
• High/Low

How to Fix a Trade

The power to trade the unlike types of binary options can be achieved by understanding certain concepts such equally strike price or price bulwark, settlement, and expiration date. All trades have dates at which they expire.

When the trade expires, the behaviour of the price action according to the type selected will make up one’s mind if information technology’s in profit (in the money) 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 determine outcomes. We will see the application of price targets when we explain the different types.

At that place are iii types of trades. Each of these has different variations. These are:

1. High/Low
2. In/Out
3. Bear upon/No Touch

Permit us take them i after the other.

High/Depression

Too chosen the Up/Down binary merchandise, the essence is to predict if the market price of the asset volition end up college or lower than the strike price (the selected target price) before the expiration. If the trader expects the price to go up (the “Up” or “Loftier” merchandise), he purchases a call pick. If he expects the price to head down (“Depression” or “Downward”), he purchases a put pick. Decease times can be as low as v minutes.

Delight note: some brokers classify Upward/Down equally a different types, where a trader purchases a telephone call pick if he expects the price to ascent beyond the current price, or purchases a put choice if he expects the price to autumn below current prices. Y’all may see this equally a
Rise/Autumn type on some trading platforms.

In/Out

The In/Out type, also called the “tunnel trade” or the “boundary trade”, is used to trade price consolidations (“in”) and breakouts (“out”). How does information technology work? First, the trader sets two price targets to class a price range. He then purchases an choice to predict if the price volition stay within the price range/tunnel until expiration (In) or if the price will breakout of the price range in either direction (Out).

The all-time style to use the tunnel binaries is to use the pivot points of the asset. If yous are familiar with pivot points in forex, and then you should exist able to trade this type.

Bear upon/No Touch

This blazon is predicated on the price action touching a price barrier or not. A “Touch” option is a type where the trader purchases a contract that will evangelize turn a profit if the market toll of the asset purchased touches the ready target cost at least once before expiry.

If the toll action does non touch the price target (the strike price) before expiry, the merchandise will cease upwardly as a loss.

A “No Bear upon” is the exact opposite of the Touch. Here you lot are betting on the toll action of the underlying nugget not touching the strike cost before the expiration.

There are variations of this type where nosotros have the Double Impact and Double No Bear upon. Here the trader can fix two toll targets and purchase a contract that bets on the price touching both targets before expiration (Double Affect) or not touching both targets earlier expiration (Double No Touch).

Normally y’all would only employ the Double Touch trade when at that place is intense market place volatility and prices are expected to take out several price levels.

Some brokers offering all three types, while others offer two, and there are those that offer only 1 variety. In addition, some brokers as well put restrictions on how expiration dates are fix.

In order to get the best of the different types, traders are advised to shop effectually for brokers who will give them maximum flexibility in terms of types and expiration times that can exist set.

Mobile Apps

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

So the mobile version will be very like, if not the same, as the total 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 tin sign up via the mobile site every bit well.

Our reviews comprise more detail most each brokers mobile app, just well-nigh are fully enlightened that this is a growing expanse of trading.

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

Trading FAQ

What Does Binary Options Hateful?

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

How Does a Stock Trade Piece of work?

Steps to trade a stock via a binary choice;

1. Select the stock or equity.
2. Identify the desired death time (The time the option volition end).
3. Enter the size of the trade or investment
4. Decide if the value will rise or fall and place a put or call

The steps above will be the same at every unmarried broker. More than layers of complication can be added, simply when trading equities the simple Up/Downwardly trade type remains the most popular.

Put and Telephone call Options

Call and Put are simply the terms given to buying or selling an option. If a trader thinks the underlying toll will get upward in value, they can open a phone call. Only where they await the price to go downwards, they can identify a put trade.

Unlike trading platforms label their trading buttons different, some even switch between Buy/Sell and Phone call/Put. Others drop the phrases put and call altogether.

Almost every trading platform will make it admittedly clear which direction a trader is opening an option in.

Are Binary Options a Scam?

As a financial investment tool they in themselves not a scam, just 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 quack brokers.

The image of these financial instruments has suffered equally a result of these operators, but regulators are slowly starting to prosecute and fine the offenders and the industry is being cleaned up. Our forum is a great identify to enhance awareness of whatsoever wrongdoing.

These elementary checks can help anyone avoid the scams:

• Marketing promising huge returns. This is articulate warning sign. Binaries are a high risk / high reward tool – they are not a “make coin online” scheme and should not be sold as such. Operators making such claims are very probable to be untrustworthy.
• Know the broker. Some operators volition ‘funnel’ new customer to a broker they partner with, and so the person has no idea who their business relationship is with. A trader should know the broker they are going to trade with! These funnels oftentimes fall into the “get rich quick” marketing discussed earlier.
• Cold Calls. Professional brokers will not brand cold calls – they do not market themselves in that fashion. Cold calls will oft be from unregulated brokers interested only in getting an initial deposit. Proceed extremely carefully if joining a company that got in contact this mode. This would include email contact as well – any form of contact out of the blue.
• Terms and Atmospheric condition. When taking a bonus or offer, read the full terms and conditions. Some will include locking in an initial eolith (in improver to the bonus funds) until a high volume of trades take been fabricated. The first deposit is the trader’due south cash – legitimate brokers would non claim it as theirs earlier whatever trading. Some brokers as well offer the option of cancelling a bonus if information technology does non fit the needs of the trader.
• Do not let anyone trade for you lot. Avoid allowing whatsoever “business relationship manager” to merchandise for you. In that location is a clear conflict of interest, merely these employees of the banker will encourage traders to brand big deposits, and take greater risks . Traders should not let anyone trade on their behalf.

Which Are The Best Trading Strategies?

Binary trading strategies are unique to each merchandise. Nosotros have a strategy section, and in that location are ideas that traders can experiment with. Technical analysis is of use to some traders, combined with charts, indicators and price action research.

Money management is essential to ensure take chances management is applied to all trading. Different styles volition accommodate different traders and strategies will besides evolve and alter.

There is no single “all-time” strategy. Traders need to ask questions of their investing aims and risk 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 whatever brusk term investment is going to win or lose based simply on luck. Conversely, a trader making a well researched trade will ensure they have done all they can to avoid relying on good fortune.

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

Advantages of Binary Trading

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

Managing Financial Gamble

If you lot take traded forex or its more volatile cousins, crude oil or spot metals such as gold or argent, you will take probably learnt one thing: these markets conduct a lot of risk and it is very easy to exist blown off the market place.

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 price re-quotes have no issue on binary pick trade outcomes.

Tax implications may also be benign, depending on your location.

This reduces the hazard in binary pick trading to the barest minimum.

Flexibility

The binary options market allows traders to merchandise fiscal instruments spread across the currency and commodity markets every bit well as indices and bonds.

This flexibility is unparalleled, and gives traders with the knowledge of how to trade these markets, a one-cease store to trade all these instruments.

Simplicity

A binary trade event is based on just i parameter: direction. The trader is essentially betting on whether a fiscal asset volition finish up in a particular direction.

In addition, the trader is at liberty to determine when the trade ends, by setting an expiry date.

This gives a trade that initially started desperately the opportunity to end well. This is not the example with other markets. For example, control of losses can only be achieved using a stop loss.

Otherwise, a trader has to suffer a drawdown if a trade takes an adverse turn in order to requite it room to plough profitable. The simple indicate being made here is that in binary options, the trader has less to worry nigh than if he were to merchandise other markets.

Greater Control Of Trades

Traders accept better control of trades in binaries. For example, if a trader wants to buy a contract, he knows in accelerate, 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 awaiting order in the forex marketplace to trade a high-impact news result, there is no assurance that his trade will be filled at the entry price or that a losing trade will be closed out at the leave finish loss.

College Payouts

The payouts per trade are usually college in binaries than with other forms of trading. Some brokers offering payouts of up to fourscore% on a merchandise. This is achievable without jeopardising the account.

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

Accessibility

In order to trade the highly volatile forex or bolt markets, a trader has to have a reasonable amount of money as trading capital. For instance, trading golden, a commodity with an intra-day volatility of up to 10,000 pips in times of loftier volatility, requires trading capital letter in tens of thousands of dollars.

Nevertheless, binary options has much lower entry requirements, as some brokers allow people to offset trading with as depression every bit $ten.

Disadvantages of Binary Trading

Reduced Trading Odds for Sure-Banker 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 offering as much as 85% payouts per trade, such high payouts are possible only when a trade is fabricated with the expiry date set up at some distance away from the date of the merchandise.

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

Lack Of Good Trading Tools

Some brokers practise not offer truly helpful trading tools such as charts and features for technical assay to their clients.

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

This is irresolute for the better though, equally operators mature and become aware of the demand for these tools to concenter traders.

Limitations On Risk Management

Different in forex where traders can become accounts that allow them to merchandise mini- and micro-lots on small account sizes, many binary choice brokers set a trading floor; minimum amounts which a trader can merchandise in the marketplace.

This makes information technology easier to lose besides much capital when trading binaries. As an illustration, a forex banker may allow you to open an business relationship with $200 and merchandise micro-lots, which allows a trader to expose only acceptable amounts of his capital to the market.

However, yous volition exist difficult put finding many binary brokers that will let you to trade below $50, fifty-fifty with a $200 account. In this situation, four losing trades will blow the account.

Cost Of Losing Trades

Unlike in other markets where the risk/reward ratio tin can be controlled and set to requite 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 market like the forex or commodities market, it is possible to close a trade with minimal losses and open some other profitable 1, if a repeat analysis of the merchandise reveals the first trade to have been a mistake. Where binaries are traded on an exchange, this is mitigated however.

Spot Forex vs Binary Trading

These are two different alternatives, traded with 2 different psychologies, but both can make sense as investment tools. One is more Fourth dimension centric and the other is more PRICE axial. They both work in time/price but the focus you will find from one to the other is an interesting dissever.

Spot forex traders might overlook time every bit a factor in their trading which is a very very big fault. 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 force one to go out a position inside a given time frame win or lose which instills a greater focus on discipline and risk management.

In forex trading this lack of subject field is the #1 crusade for failure to most traders as they will simply hold losing positions for longer periods of time and cut winning positions in shorter periods of time.

In binary options that is not possible as 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 x infinitesimal window of cost and time. As a binary trader this focus will naturally make you better than the beneath example, where a spot forex trader who focuses on price while ignoring the fourth dimension chemical element ends up in trouble. This psychology of existence able to focus on limits and the dual axis will aid you in becoming a better trader overall.

The very advantage of spot trading is its very same failure – the expansion of profits exponentially from one bespeak in price.

This is to say that if you lot enter a position that you believe will increase in value and the price does not increase yet accelerates to the downside, the normal tendency for most spot traders is to wait information technology out or worse add to the losing positions as they figure it will come back.

The acceleration in time to the reverse desired direction causes most spot traders to be 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 forcefulness ane to have a more consummate mindset of trading off both Y = Price Range and X = Time Range equally limits are practical. They volition simply make you a better overall trader from the start.

Conversely on the flip side, they by their nature crave a greater win rate as each bet means aseventy-90% gain
vs a100% loss. And so your win rate needs to be on average 54%-58% to intermission even.

This imbalance causes many traders to overtrade or revenge merchandise which is just as bad as property/adding to losing positions equally a spot forex trader. To successfully trade you lot demand to practise coin direction and emotional control.

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

The average spot forex trader only looks at price, which ways he is merely looking in one management earlier crossing the street.

Learning to merchandise taking both fourth dimension and cost into consideration should aid in making ane a much overall trader.

References And Further Reading

1. A Study of Optimal Stock and Options Strategies (Dash, Mihir and V., Kavitha and Grand.Thou., Deepa and Due south., 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 Printing, Inc., 2004)
4. Trading Binary Options: Strategies and Tactics (Abe Cofnas – John Wiley & Sons, 2011)
5. Binary Options: Stock-still Odds Fiscal 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 Individual Investor Performance (R Bauer, M Cosemans, P Eichholtz – Journal of banking & finance, Vol 3 Issue 4, 2009)
9. Binary Option Pricing Using Fuzzy Numbers (A Thavaneswaran, South.S Appadoo, J Frank – Practical Mathematics Letters, Vol 26, Issue i, 2013)