Hi traders,
Im fairly new to trading, been doing binary for about 2months now, with ups and downs as a newbie, listening to brokers advice and doubling my account in a week, obvs lost it all the next week etc. Only after doing this I started doing research and found out what a dirty world it is out there. I eventually Found a binary community online and haven’t looked back since.
Overall this journal will just be my thoughts and trading plans on a week to week basis, ill track results here as well so that people can compare with me if they want too.
The attractive thing about binary options trading is the time with fixed loss/profit already determined before you take the trade. People think that because you can take a insane amount of 60sec trades per day overnight success is possible. Growing up I learned that when it sounds to good to be true it normally is so i didnt fall for that trap to easily.
To cut it all short I decided to try the following trading plan starting 5th September 2016.
Trade 5x1% 60sec trades daily (1% = £25)
Only do these trades.
No martingale.
Leave emotions at the door while trading.
Look for best possible setups from 8am-7pm.
My idea is to spot my win rate, i should have a 100 trades under the belt by end of September and will have a idea of what my win rate is ( i know it wont be 100% accurate but will give me a idea). Once I have this ill consider martingale etc and focus on a x amount of weekly profit etc. For now its just about getting the trades right.
The strategy ill be using will be technical analysis and price action, no indicators.
Cheers and goodluck!