CherryCoke's ALL OR NOTHING (Binary Options) Odyssey - Page 45

http://uk.reuters.com/article/2012/07/11/uk-broker-pfgbest-mfglobal-idUKBRE86914620120711

Errrm CFTC have a little explaining to do.

0/2 ITM today using REAL, LIVE account. Profit: minus $48

1st trade, overall trend was increasing, but wasn't clear. tried S/R, breakage, twice of support line. Thought I'd "put" after second breakage. It was ITM until 3mins before expiry.

2nd trade, I made a mistake. It was too volatile.

Bad trading time?

Quote:

Originally Posted by LosPinos 

http://uk.reuters.com/article/2012/07/11/uk-broker-pfgbest-mfglobal-idUKBRE86914620120711

 

Errrm CFTC have a little explaining to do.

Hey LosPinos, Is PyxMarkets.com under maintenance for the past two days or what? Decided to join 24options after being unable to get into pyxmarkets. I wanted to get my feet wet!

The wicks are very important when using standard candles.

Quote:

Originally Posted by drama 

Hey LosPinos, Is PyxMarkets.com under maintenance for the past two days or what? Decided to join 24options after being unable to get into pyxmarkets. I wanted to get my feet wet!

Correct about site being down:

Due to emergency maintenance requirements at our hosting service, the PYXmarkets website is currently unavaliable

We expect normal service to resume shortly but, in the meantime, should you wish to access the Trading Platform, please link to;

https://platform.pyxmarkets.com/server/

We apologise for any inconvenience this has caused

PYXmarkets

Quote:

Originally Posted by Pocketful 

Correct about site being down:

 

Due to emergency maintenance requirements at our hosting service, the PYXmarkets website is currently unavaliable

We expect normal service to resume shortly but, in the meantime, should you wish to access the Trading Platform, please link to;

https://platform.pyxmarkets.com/server/

We apologise for any inconvenience this has caused

PYXmarkets

Quite convenient. Did love the platform. But guess ill give 24options a go for the time being.

Datemike, when the red wicks are long, best time to 'call'?

No its not that simple but when you see that many wicks together in the same area it usually indicates that there is demand(in this example) for that price.

Quote:

Originally Posted by drama 

Quite convenient. Did love the platform. But guess ill give 24options a go for the time being.

 

Datemike, when the red wicks are long, best time to 'call'?

Quote:

Originally Posted by drama 

Quite convenient. Did love the platform. But guess ill give 24options a go for the time being.

 

Datemike, when the red wicks are long, best time to 'call'?

Drama, Not sure if the website is down.... I dont really go to the website the platform address is cached in my browser so I just type in platform.pyxmarkets.com/server/ and get there that way.

Made a little on UK100 yesterday but nothing to write home about.

Quote:

Originally Posted by Pocketful 

Correct about site being down:

 

Due to emergency maintenance requirements at our hosting service, the PYXmarkets website is currently unavaliable

We expect normal service to resume shortly but, in the meantime, should you wish to access the Trading Platform, please link to;

https://platform.pyxmarkets.com/server/

We apologise for any inconvenience this has caused

PYXmarkets

Pocketful - How is your demo trading going?

Have you jumped in with both feet yet?

Yeah looks like pyxmarket is fully back online.

I really need some advice and consulting from smartbumfx, cherrycoke ! Wish cherrycoke did a signal service
 

Quote:

Originally Posted by drama 

Yeah looks like pyxmarket is fully back online.

 

I really need some advice and consulting from smartbumfx, cherrycoke ! Wish cherrycoke did a signal service
 

Drama, Although it is difficult to simulate because excel doesnt take into consideration sentiment and pricing trends blah blah blah. You should be well aware that if you going in blind it take less than 20 trades in all simulations to burn $1k. This is working the assumption that returns are at 85% or rebate at 10% for a loss. Quite impressive but not conclusive as there are so many different variables that cant be taken into context.

Open an excel spread sheet:

A1- Put $1000

B2 - Put =ROUND(RAND(),0)

A2 - Put =IF(B2=0,A1*(0.1),A1*1.85)

Then copy and paste A2 & B2 down to say row 20 see how much you have left.

You need a strategy. If you go on blind faith you WILL lose every time.

Below is one simulation that I have done, showing I win my first four trades I still end with zip after 20.

Yes, I know. I lost $50. And now I decided to ask for a demo account to practice various strategies. Datemike showed me one. And I read through posts in this thread. The straddle strategy looks promising in volatile markets, but doubt is the best to profit from consistently.

I'd love to hear good strategies everyone uses, so everyone else can benefit. smartbumfx said something about using fibos, but i have no clue where to start. As a beginner, I am frustrated, but I won't give up.

btw, I can't seem to load up freestockcharts.com to have a closer look at candles. It shows it loading to 100% but the chart doesn't pop up (just a white screen).

going blind side is bad, hence why i decided to demo it after 50$ loss. Probably why people think its a gamble when they are not used to understanding the markets.

Quote:

Originally Posted by drama 

Yes, I know. I lost $50. And now I decided to ask for a demo account to practice various strategies. Datemike showed me one. And I read through posts in this thread. The straddle strategy looks promising in volatile markets, but doubt is the best to profit from consistently.

 

I'd love to hear good strategies everyone uses, so everyone else can benefit. smartbumfx said something about using fibos, but i have no clue where to start. As a beginner, I am frustrated, but I won't give up.

 

btw, I can't seem to load up freestockcharts.com to have a closer look at candles. It shows it loading to 100% but the chart doesn't pop up (just a white screen).

 

going blind side is bad, hence why i decided to demo it after 50$ loss. Probably why people think its a gamble when they are not used to understanding the markets.

Exactly.... Don't trade everything either study and begin to understand one to a few assets. Do not trade everything that moves.

I love to hear how a straddle works with up/down..... Straddling the market is playing both side as a hedge in vanilla options trading. You buy a call option and a put option at the same time, therefore you are staking $100 long and $100 short.... One of your position will be correct and one will be incorrect, in fact the best result to hope for here is that they close at the money because you get your stake back. Any other scenario and you lose, you spend $100 long and it correct lets say.... you get $185 max back but the other $100 trade on the short side or a put will close out of the money so you get a max of $10 back..... Buddy you have just staked $200 and guaranteed yourself $195 max back.

That trade doesnt work for me. Happy to hear otherwise if someone else understands a straddle differently.

Quote:

Originally Posted by drama 

Yes, I know. I lost $50. And now I decided to ask for a demo account to practice various strategies. Datemike showed me one. And I read through posts in this thread. The straddle strategy looks promising in volatile markets, but doubt is the best to profit from consistently.

 

I'd love to hear good strategies everyone uses, so everyone else can benefit. smartbumfx said something about using fibos, but i have no clue where to start. As a beginner, I am frustrated, but I won't give up.

 

btw, I can't seem to load up freestockcharts.com to have a closer look at candles. It shows it loading to 100% but the chart doesn't pop up (just a white screen).

 

going blind side is bad, hence why i decided to demo it after 50$ loss. Probably why people think its a gamble when they are not used to understanding the markets.

Hey,

Need to offer some help to a fellow Canuck [not the hockey team....unless you live in BC],

It wasn't that long ago that I was in your position....I am still quite a novice but...I did a tone of reading online before I signed anywhere....did a demo account for 23 days...and, even then. took more than 2 weeks to decide on which platform best-suited my needs. You need freestockcharts.com , binaryoptions101.com, binaryoptionsdaily.com/options - and more!

24O has a minimum of $24 per trade...too high for a beginner - IMHO.

If you want to talk....request a contact on Skype...loksch13

Otherwise, all of the above are intended in a friendly and constructive manner....use them or not as you see fit.

Take Care,lo

loksch

You doing forex? or stocks

Quote:

Originally Posted by loksch 

Hey,

Need to offer some help to a fellow Canuck [not the hockey team....unless you live in BC],

It wasn't that long ago that I was in your position....I am still quite a novice but...I did a tone of reading online before I signed anywhere....did a demo account for 23 days...and, even then. took more than 2 weeks to decide on which platform best-suited my needs. You need freestockcharts.com , binaryoptions101.com, binaryoptionsdaily.com/options - and more!

 

24O has a minimum of $24 per trade...too high for a beginner - IMHO.

 

If you want to talk....request a contact on Skype...loksch13

 

Otherwise, all of the above are intended in a friendly and constructive manner....use them or not as you see fit.

 

Take Care,lo

loksch

Quote:

Originally Posted by LosPinos 

Pocketful - How is your demo trading going?

 

Have you jumped in with both feet yet?

I did jump in live this week--with net losses. I'm concentrating on the UK100 and I think I'll need to review more historical charts to see how it behaves in the last hour/15 mins.

Based on my demo trade plan with currencies on the PYX platform, I place 2-3 overlapping range orders above and/or below the London open price. Was looking for minimum 1:3 risk/reward per position; so 2 wins would net profit all positions. Sweet when a 1:20 position was ITM, not so sweet when all OTM. So I applied this to UK100 as the day range was less than 100 points.

Quote:

Originally Posted by drama 

Yes, I know. I lost $50. And now I decided to ask for a demo account to practice various strategies. Datemike showed me one. And I read through posts in this thread. The straddle strategy looks promising in volatile markets, but doubt is the best to profit from consistently.

 

I'd love to hear good strategies everyone uses, so everyone else can benefit. smartbumfx said something about using fibos, but i have no clue where to start. As a beginner, I am frustrated, but I won't give up.

 

btw, I can't seem to load up freestockcharts.com to have a closer look at candles. It shows it loading to 100% but the chart doesn't pop up (just a white screen).

 

going blind side is bad, hence why i decided to demo it after 50$ loss. Probably why people think its a gamble when they are not used to understanding the markets.

I've been all over the map--for years. Now focusing on less to study, stategy test, apply, review, modify, reapply. I'm turning a costly hobby into a working business of trading.

Start here for forex 101 http://www.babypips.com/

Here are two more online chart sites: http://www.forexpros.com/charts/  http://www.forexticket.us/en/tools/home

I use my broker FX Metatrader desktop charts and Forexpros for UK100 chart.

Quote:

Originally Posted by Pocketful 

 

I've been all over the map--for years. Now focusing on less to study, stategy test, apply, review, modify, reapply. I'm turning a costly hobby into a working business of trading.

 

Start here for forex 101 http://www.babypips.com/

 

Here are two more online chart sites: http://www.forexpros.com/charts/  http://www.forexticket.us/en/tools/home

 

I use my broker FX Metatrader desktop charts and Forexpros for UK100 chart.

I use proqoute as a terminal which I rent monthly.... costly but awesome both whether you are fundamental or technical with the overlays you can implement.

My suggestion would be NOT to use this early as its a cost that will eat in to your capital.... Use something proffessional like this when you are making money each month.

forex: binary options