CherryCoke's ALL OR NOTHING (Binary Options) Odyssey - Page 27
You are my godess!!!
Its is clear that w cant double up indefinetely, in my experience 3 times is the most trades I have put in for one 'investment'. Most of times only 2 trades are sufficient, many other times only the first one finished ITM at end of day.
Needless to say I keep nuber of trades to a minimum of 2 or 3 per week, using the different techniques available at 24Opt.
@ SmartbumFX : 10 trades in less than an hour with 80% - 85% accuracy!! Impressively amazing! Would you care to teach us about your trading plan?
@ Cherrycoke : Thank you for you explanation on my chart query! I didnt take the NPF into consideration!! Still learning a lot about fundamentals!
Awesome trading guys n girls
All trades were based on SR levels supported by price action. Chart is MT4 5m TF as I mainly trade forex with Alpari while I scalp on Binary 24Opt.
I wait for the price to hit my trap (price level) then I pull the trigger. Expiry time 15 - 30 mins. Also avoid trading before a high impact news, wait for the price to settle.
Wish you all the best!
My morning session:
Establish S/R levels? Watch how price reacts to different prices.. draw a line, wallah.
Pretty sure his are very short-term..
Thanks Stock King,
@ SmartbumFX I apologize, I think I was too vague with the question regarding S/R levels... What I meant to ask with regards to establishing them, do you use pivot points? (Let the indicator calculate and "draw" the levels) or do you determine them yourself? (zoom out on a 5min T/F, then assign the levels based on what you see).
This might be a very noob, or even stupid question, but in the research that I've done, the interpretation of S/R levels are quite broad. Especially when it comes to intraday/binary trading.
The 2nd question (apologies, also very vague) Are they short term S/R or long term? How many times does price have to touch S/R before it becomes a valid level for you? And within what time period? eg. price touched and reversed 4 times within 24 hours at the same/similar level, therefore based on what I see, it is a valid resistance level.