Day Trading Binary Options

TRADE ALERT:
The ADP National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients. The release, two days ahead of government data, is a good predictor of the government’s non-farm payroll report. The change in this indicator can be very volatile.

A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

AMOUNT: $1000
TRADE: GBP/USD
TIME: 13:15 LONDON GMT
OPTION TIME: 15-30 MINUTES


Krizintegraboi, so you need to look at the economic calendar http://binarykings.co.uk/education-center/economic-calendar and here you will see what news is of high importance and what news is of low importance, I personally only trade news that is of high importance.

you need to look at previous results and expected results, when the news is released if it is better than expected results then the country you are trading you will need to purchase their currency, if the results are poor or worse than expected then you will need to purchase another countries currency for example poor results in the US you will place a CALL on GBP/USD.

I hope this helps

First thing, learn price action without indicators, or limit yourself to 1 or 2. Focus on support and resistance lines and how price will react.
As for news, that is fundamental trading, a little different. Denham has a good style with the news. I am still learning.
Did you go through the babypips school? Highly recommended (and free)

I agree with AmishBuggyFX definitely go through the school, i have read from start to finish but that was a few years back so i am a little rusty because i have adapted my own trading style now, I read it an hour every night and traded what i learned on a demo account the next day, i found that really effective because if you make mistakes you can learn from them and it is not going to cost you money.

Don’t forget to Trade Crude Oil Inventories today as well.

Catch up with this

Denham, usd had a favorable news release, so we should sell the gbp/usd, right? I sold it and I am getting destroyed right now! What happened here??

hey amish

my econ calendar showed a poorer result (0-1%) so i took a Call
ITM

DP

Hi Amishbuggyfx i have to admit i got destroyed as well, this is definitely a mistake we can learn from what happened was the news got released on employment report 14:15 and was good for the US but we did not encounter the rest of the news that was released at 14:30 that was so bad for the US even the guys on Bloomberg said they thought it was a typo error and so the GBP got a lot stronger if we took a 5 minute option we would of been fine but the 15-30 minute option was a mistake.

we have to learn from these things and pick ourselves up and brush it off, this is good for traders reading this thread as they can learn from our mistake.

yeh sorry amish
i was looking at a later GDP report
you were right and also denham

DP

It’s ok. This is a new and exciting strategy and a learning process for me. Let’s see how the oil trade goes in 45 min…

Do you guys trade technical at all, or just news?

I can see Denham makes enough money from news, that is all I would need to trade at that income level.

hey amish
the tech i use is double bollinger MA and RSI
5 min TM
DP

hey guys,

that was a winner for all yeh? crude

DP

oil ITM!!!

hey amish,

are you trading on the binary kings platform for binary’s?

DP

hey Denham,

will there be a trade later with the FOMC statement?

DP

I never heard of binary kings before this thread.
I trade with MarketsWorld.

I am using support and resistance on the 5 minute timeframe. I’m still learning but I’m starting to get it. Type in price action binary options in YouTube and they have some great videos

I see news for the AUD (PPI q/q )for 05/01 at 9:30 pm EST (New York time)… Since that is during the Asian session, should I trade the Aud/Jpy? Or should I trade the Aud/Usd?

hey amish,

theres no one about today, so it seems, i wouldnt know your answer, but my two pence worth is that the AUD news isnt important enough.

regards

DP

I watched a video on youtube regarding fundamental trading with bin opts. It suggested to wait for the first 5 min candle after the news release to close. Then it should show the trend direction.