Hi Saul Reivers, i prefer news events with a high importance and are in a group of no more than 3 reports released at one time when trading currencies simply because the market reacts to them a lot better, i think this is because traders can make an easy decision on which currency they are going to purchase and what way the market is going to move. Reports that are released in a group of 5 are normally mixed meaning the market is highly unpredictable and your chance of making a loss increases.
I never trade 1 or 2 minute options as it is financial suicide due to the fact that it is not a strategy more like gambling it may work for some people but i do not touch them with a barge pole.
Some brokers offer the bet to be bought back at a reduced price but i am not sure who does, i think if you make an educated trade and you know what you are doing you should stick with it all the way otherwise it then becomes more like forex trading where you can execute when you like.
Again, that’s a fair point.
I’m looking to use options as a defensive play as well as a speculative one so binaries could well prove to be an attractive proposition in either or situation.
I like the fact that once I’ve managed to successfully average into a forex trade & roll it over I can job any corrective or pullback moves via options, & binaries are certainly a viable alternative to hopefully achieving that.
I certainly amazed by your news trading and for that I will follow your posts here to trade. I actually have question, I was amazed that the news for GBP on Friday went positive but GBP/USD went only a spike up then climbed down heavily! I purchased a call for GBP/USD with 30mins but expired OTM! I was so confused… your explanation is appreciated. \
Can you please also share the link from where you get the news updates.
for the GBP/USD on the previous page i have explained what i think happened, there was only a few of us who executed ITM and the timing and the speed of your brokers platform is key to making a good profit.
If the previous explanation does not make sense to you let me know and i will explain in more detail.
This one Joker is the explanation but not in to much detail as I was extremely busy last week but i am more than happy to do again in more if you would like.
You mentioned that it is good sometimes to know when NOT to trade, and the CAD news was after GBP news by around 3 hours so there is a big gap before charts get crazy. What do you think is the reason? Is the USD employments effects was still on!
I Also visited the link of calendar but I cannot find where I can find your display of more details about the news.
Thanks!
TRADE ALERT: Core Retail Sales measures the change in the total value of sales at the retail level in the U.S., excluding automobiles. It is an important indicator of consumer spending and is also considered as a pace indicator for the U.S. economy.
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.
DATE: TUESDAY 13TH MAY
TIME: 1:30 LONDON GMT
AMOUNT: $1000
EXECUTION TIME: 30 MINUTES
DAY TRADING BINARY OPTION This trade has two high importance news releases meaning it is going to have a larger affect on the market, i have chosen to take a 30 minute option trading this due to if the market does react in an unpredictable way in the first 15 minutes as previously seen then the 30 minute option will then give the market time to correct itself and go in the direction my prediction thought it would.
I have noticed on here that people that have taken 30 minute options and their trade has expired OTM need to take a look at their previous trades to see how long it has took them to place the trade with their broker.
Fast execution is key to making money trading Binary Options and if your broker is taking to long maybe go test the water with a few others until you are happy one that executes in a rapid time.
I can also see a difference in the news on your website and ForexFactory. On yours it is negative for GBP but in Forexfactory it is positive! Or maybe my reading is not correct? Isn’t the red numbers means the bad actual? Look at the high 1.
Yes well the difference between the two is that on [B]Binary Kings[/B] Economic Calendar it shows that previous results were at 1.0% forecast was 0.3% and results were 0.5% meaning that production shrunk by 0.5% Month on Month in the UK which is actually a poor result for the GBP/USD but on the Economic Calendar on [B]Forex Factory[/B] because production shrunk by 0.5% and not 0.3% as predicted that have showed it as a better than expected result where as [B]Binary Kings[/B] have shown the result as negative rather than positive which is more realistic.
So what we are looking for is comparison between previous actual and the current actual and not the forecast? Sometimes I noticed, in some news, it is better then the forecast but worst then previous actual, but it is good for the currency. That is why am confused!
Thanks for sharing this information. Just the sort of scenario you are looking to trade using binaries; quick price moves over a short period of time, with plenty of information available to guide you in your decision making. I will do some homework and may have a play with this. Cheers,
Ok so when Day Trading Binary Options the news that is for example Core Retail Sales previous 0.7% forecast 0.6% and it is released that it is 1.2% these are the trades you want to be trading this is a great result for the USD and it is clear that the economy is starting to grow.
and if the news is released Core Retail Sales previous 0.7% forecast 0.6% and it is released that it is 0.6% these trades are ones that you would steer clear off due to this news can be taken as positive or negative by traders because there is no dramatic movement and in most cases the market will react to technical traders and not fundamental because the results are not strong enough to move the market.
another example Core Retail Sales previous 0.7% forecast 0.6% and it is released that it is dropped to 0.2% this is highly dramatic and will be bearish for the USD meaning this is a trade you definitely want to get involved in.
What i am trying to say is the news results with a larger increase or decrease than expected are the ones you should trade, I always remember that Binary Options give you a return of up to 86% per trade so you only need a few good trades per month to make bank and trading results with a small increase or decrease is high risk so stick to results that are dramatic to a currency pair.
