CherryCoke's ALL OR NOTHING (Binary Options) Odyssey - Page 40

Quote:

Originally Posted by keste 

Tes that would be great as I am quite successful with end of day expiry but keeps me at computer all day basically and would like to try the short expiry.

keste, with your end of day expiry trades do you enter a trade as soon as price hits one of your support levels? and what happens if you go long at one of your support levels and price continues moving downwards, do you wait until it reaches your 2nd support level before entering long again - but what if the price never reaches that 2nd support level?
 

Another example of recovery trade saving the day. 7/10, started late, almost near close of London session but still manage to profit $1,166-.

Hello everyone :) i was reading about your money making endeavours and i must say i'm impressed :D I'm starting to familiarize with binary options trading myself and i was wondering if i could get some advice from more experienced traders here :P (that means all of you)
Well, i started by opening a free account at iOption.com where they give you 100$ free bonus to start with. The catch is that you can't withdraw money from it before you make more than 2000$ in your account. I've got a chart software and i use the moving average (EMA12 and 26) and MACD indicators but i've still got a lot to learn about how to use them correctly :) Well i was wondering what you guys use and what are some of the most important factors to consider when determining in which direction the market's gonna move, like what things to look for and when :)

I've read books about trading but i really wish i could get someone to teach me all about this stuff :)

I usually buy long at/near support tevel, if prices move downwards wait until next support level to buy long in double amounts. If it goes down again sell in six times initial amount. And then is end of day, usually in ITM. Most of times is only max 2 trades needed, only once had to trade 3 times. But im interesteing in knowing exactly how it works the short term trade ( 15 minutes to expiry)

I've been paper trading a strategy that picks tops and bottoms using a break of S/R. Of course it always works on paper. I haven't had any luck trading bounces off S/R as most of the time it breaks through.

Quote:

Originally Posted by lordnox 

Hello everyone :) i was reading about your money making endeavours and i must say i'm impressed :D I'm starting to familiarize with binary options trading myself and i was wondering if i could get some advice from more experienced traders here :P (that means all of you)
Well, i started by opening a free account at iOption.com where they give you 100$ free bonus to start with. The catch is that you can't withdraw money from it before you make more than 2000$ in your account. I've got a chart software and i use the moving average (EMA12 and 26) and MACD indicators but i've still got a lot to learn about how to use them correctly :) Well i was wondering what you guys use and what are some of the most important factors to consider when determining in which direction the market's gonna move, like what things to look for and when :)

I've read books about trading but i really wish i could get someone to teach me all about this stuff :)

Start your journey from here: http://www.hotstockmarket.com/t/78189/dogs-binary-option-trades

Quote:

Originally Posted by Jake Savage 

I've been paper trading a strategy that picks tops and bottoms using a break of S/R. Of course it always works on paper. I haven't had any luck trading bounces off S/R as most of the time it breaks through.

Sometimes they work, sometimes not. That's why I always have my recovery trades ready.

What you mean exactly by recovery trades, just ordinary additional trades you do after some losses or specific trades following special rules?
 

Remember when I asked you about doubling up your bets after a loss? The idea came from there. Mine can carry you up to the 5th or 6th level without blowing the account.
 

smartbumfx - so looking at the trades you took above if that 4th trade at $2003 had been a loss would your next trade have been $4000 and then if necessary $8000 on the 6th?


 

Quote:

Originally Posted by keste 

I usually buy long at/near support tevel, if prices move downwards wait until next support level to buy long in double amounts. If it goes down again sell in six times initial amount. And then is end of day, usually in ITM. Most of times is only max 2 trades needed, only once had to trade 3 times. But im interesteing in knowing exactly how it works the short term trade ( 15 minutes to expiry)

I noticed on the trade you posted previously from 4/04 that you went long 3 times. What made you decide to wait and go long on that 3rd support level rather then reverse and go short soon after it went down through your 2nd support level?
 

Quote:

Originally Posted by FXGuy 

smartbumfx - so looking at the trades you took above if that 4th trade at $2003 had been a loss would your next trade have been $4000 and then if necessary $8000 on the 6th?


 

Possible, it would be around $5K, then $12K max. as I've mentioned earlier as long it's inside my limit I would take the trade. But of course there's always a limit on how deep you can go. As for me, losing the 5th or 6th means going back to the drawing board.

Done for today. Some of those last trades were based on EUR/USD's strong support line at 1.2500, took advantage of those small bounces. 11/15, profit for today $7,783-

My "coup de grâce" for today. That's it , time to grow my nails back. Total profit for the day $14,073-

Quote:

Originally Posted by smartbumfx 

My "coup de grâce" for today. That's it , time to grow my nails back. Total profit for the day $14,073-

 

 

 

That's nice trading. $14k profit is not to be sniffed at on any platform but forgive me if I am wrong.

You don't actually need any kind of strategy or signals on this type of platform, surely its like heads or tails..... if you lose a trade you just double up on the next one right?

I'm not saying that is what you do as that clearly isnt the case and you are making some great calls by taking that level of profit each day, it just seems like this is a very un-intelligent form of trading the market.

Again though, if it works it works. Good on you for making that level of return. Has anyone had problems withdrawaing from 24option before?

Key to this trading is to identify SR levels and then base your trades on those. I use end of day and get SR from pivot points so I dont make any trades but use the doubling up technique on wrong bet within sane trade.

@smartbmfx   how do you calculate your SR and base your short term trades on those. Today SR at 1.25 was a strong one but other times I dont see your SR on my pivot points based on Day -1.

Please explain, the community might benefit.
 

Quote:

Originally Posted by keste 

Key to this trading is to identify SR levels and then base your trades on those. I use end of day and get SR from pivot points so I dont make any trades but use the doubling up technique on wrong bet within sane trade.

 

@smartbmfx   how do you calculate your SR and base your short term trades on those. Today SR at 1.25 was a strong one but other times I dont see your SR on my pivot points based on Day -1.

Please explain, the community might benefit.
 

My short term SR's are based on fibos on m15 down to m5 chart. But calculating fibos is discretionary unlike pivots they are plotted automatically.

lol, impressive day. Any else using 4xp demo and getting an error where it shows you have no funds?

Quote:

Originally Posted by smartbumfx 

My "coup de grâce" for today. That's it , time to grow my nails back. Total profit for the day $14,073-

 

 

 

I have a couple of questions if any of you guys can answer them for me. Right now I only trade regular options (not binary). But been reading up a bit on binaries and want to get my feet wet.

From my understanding of the basics, you simply bet on whether the equity is going to move up or down in whichever time frame and expiry you choose, and as long as it expires ITM you make 70%? And if it expires OTM you lose 90%? Is that correct?

Also, I read that there are no fees, is that true? If not, what are the fees like?

Lastly, is there any type of paper trading platform/website for binary options? I'd like to practice this stuff first before putting money in? Anyone got a link?

Thanks!

typically there is 2 expirations. 1 being end of the trading session & 1 being near term. You have to until 5 minutes before expiration to enter. example if expiration is 10:30 you must enter by 10:25.

The % have changed since the start. Before it was like 70% in the money 15% out of the money. now its more like average +80% in the money & always -0% out of the money.

No fees to put a trade on but most have $30 withdraw fee.

https://options.4xp.com is what i use, its free demo account. 24option which everyone here appears to be using wants a $250 deposit to run a demo account which is some fuckin bs.

4xp doesnt have forex trading until 1am~. 24option starts at 11pm~ i think.

They basically all use the same platform unless you using nandex which is kind of a different system not as simple.