I use binaries for the CSI 300 and China A 50. It limits your losses and you don't need to have stops etc. It does of course limit your gains because your full profit amount is predetermined. It worked for a while for me but now they are pricing in the volatility so much that making money of it is a lot harder. Sometimes I go both ways for the market to go up 3 or 4% and the same for going down and then when it moves closer towards one target I add positions. Even though the markets look very gloomy now and the Chinese stock markets probably has another 20% to fall long term I suspect they'll have a major bounce over the next few days so I'll take a binary each day for the market to rebound 3 or 4%. They regularly go against the trend.
Hong Kong yuan rate at 65% is to stop speculators shorting the yuan and hence limit capital outflows. Another policy by the Chinese government to control markets which just won't work. People and money exchangers just find other ways to get around the $50K per year limit.
