Hello babypipians! My name is Jeff, I’ve been a trader for about 3 years now. Originally I traded stocks with little success. About 5 months ago I picked up Forex, because of the similarities to stocks and the 24/5 availability. I’m a Binary Options trader, with mild success. At this point in my career I’m mostly looking to perfect my strategy ,and figured this would be a solid place to start.
My ultimate goal for forex is to be able to make enough capital to invest into real estate, and eventually supplement my job. Personally I’d say I’m close, but all traders know how far you are when you think you’re close.
If anyone else here trades binary options I’d love to be in contact with you, and bounce knowledge.
No experience w binary but I am an options trader. What type of strategy do you employ? And, have you tried trading regular derivatives? I never understood why binary became popular- maybe you can enlighten me.
I trade Reversal’s. I’m not entirely sure why binary is popular the aspect for me is time. I’m a scalper by nature so the 3 - 5min setups work best for my analysis and time with family. I used to trade options, but gave up after lack of direction from my previous mentor. I’ve never traded derivates. I picked up quickly on binaries and never really looked back.
Interesting and awesome that you found something that works. I get it from a scalping aspect. But, what if you just added a few days (you can trade weeklys) which in turn would reduce your stress levels and allow you more time to analyze trades.
Can you sell premium in the binary market? I’d have to guess it’s the only way to be profitable, just like in the regular options market.
Unfortunately you cannot. You are essentially choosing between up or down during each segment of time. I’m a checker rofl. I cannot let a chart move without watching it. Analyzing was never really the issue. It’s more or less at this point being more patient for perfect setups not, just good setups.
If that’s what you prefer then keep on rocking it. Me personally, I don’t want to have to guess up or down. Delta neutral is the name of the game.
Take care.
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