Have you traded BO profitably before you quit?
And what kind of strategy do you use?
I’m asking, cause I trade BO myself as a “side project” when the FX spot market lacks volatility to move significantly…
Before I quit I was pretty much break even because I didn’t really have a strategy for binaries.
I was pretty much trading them the same as if I was trading on the open market which you can’t do because binaries expire at a set time.
My strategy is pretty much as you would expect. Moving averages, support & resistance, news, earning reports.
How have binaries been going for you?
There is no perfect strategy in trading, signal provider will tell you. All strategies have some flaws and weak points, and there is no such thing as a perfect mathematical model to achieve profits on the financial markets. When deciding to use a strategy you must be aware all the time that even the best strategy is no guarantee for success. However, this should not discourage you, because certain strategies can be very profitable most of the times. You only have to keep in mind that luck is a very important factor in trading, just as it is in life in general.
Well…I haven’t traded more than a few hundred dollars yet, just to try and get a hang of it…
Haven’t got as good result as a did when I was just demoing, but I’m working on a more sound strategy now with longer expiry periods.
My new strategy for now is MA for trend direction, stochastics for OB/OS at strong supply and demand zones and trade the reversals with price action.
Today it would have given me 15 ITM and 4 OUT on paper trading…
Sounds solid, but 19 trades seems quite a lot. I only expect to make 0-3 trades per day on average because the setups I like don’t happen all the time.
Maybe be more selective and just go for the ones that look like amazing setups. Sure you’ll trade less but your win rate should go up.
Having said that… I already have 2 trades planned for tomorrow. They will be CALLS with end of day expiries as long as I can get in at the open price or better.
I want to see what happens in pre-market first then I’ll post them here.
Regards, Will.
I don’t think I will make 19 trades a day when I go live with it. But I’m just paper trading any signal from london open and two hours into US open.
What I have discovered is that even though the signals are the same, they tend to behave a little different after US open and it that’s when I usually ends up out of the money with this strategy…so it might become a london session strategy only and nothing more, and when paper trading I take every signal from 5 different pairs to get a better statistic and to see what pair is best to trade over all…
Live I will trade only the 2 statistic best pairs a day, and stop trading before US open, giving me two pairs and 5 hours a day to trade binary options.
Right now I’m tweaking my strategy for the best results before going live…if it’s a consistent winner I’ll share it a little later if that’s interesting 
Cool, I’ll look forward to hearing how it goes!
I’m going to be making 2 trades today with end of day expiries as long as I can get in at the open price or better.
[B]CALL McDonald’s (MCD) below the open price.[/B] Expiry = end of day.
[B]CALL Coca Cola (KO) below the open price.[/B] Expiry = end of day.
So for example if MCD opens at 99.01 I will buy a call option that expires at the end of the day as long as I can get in at any price below 99.01
So basically I predict that MCD and KO will close green today.
[I]P.S. Remember this is all just for fun and you should do your own research before you make any investments![/I]
making money in the market is very tough i ve tried many things but these claims are not perfect, you still need to make lot of efforts.
Binary Options are not a good investment.
Basically because you have a bad risk reward ratio.
You risk 100% to win 80%. It’s messed up, and basically was done to steal people’s money. I know because I tried. They will even call you.
With a good strategy and execution in forex you can have risk 100% win 200% trades.
I personally won’t touch binary options again, tried 3 different companies, really not my thing. It looks like gambling.
Hello,
Just as Day charts are more reliable than intraday charts (1m, 15m, 30m 1h) If you want to increase your changes of success try traditional European Options instead of binary. European Options with an expiry date of 3 month minimum!! Spreads, Straddles, Strangles and Butterfly strategies all work depending on volatility, evaluation and your selectivity. Good Luck.
Hi optictrade,
Binary option is like playing baccarat.
Imo, the difference between binary vs baccarat is that… if your trend determination is ACCURATE… you can profit more consistently and way much faster than baccarat… because if you can win more than 60% , it means you have a winning EDGE, coupled with money management and trade management. You may consistently be a profitable binary trader. My recommendation for money management for binary trading is as follow eg.have at least 20 times the capital amount for one account. Each account must enable you to bet 20times.
When win a bet. Use positive progression, in the following order 1b, 1b, 1b, 1b, 2b, 2b, 3b, 3b, 4b. When profit is more than 4x , you enter 2b and when less than 4x you enter 1b, profit more than 8x enter 3b, between 4x to 8x enter 2b, more than13x enter final 4b. You LOCK IN PROFITS. once lock in profits go back to entering 1b per position. Repeat the process. When profit is -1x , use negative progression in the following order. 1b, 1b, 2b, 3b, 5b, for recouping losses. When profit back to +1b use positive progression. When you get a string of -1-1-2-3-5 of losses. Seriously, your trend determination sucks. Go back and review your trend determination methodology. Remember having 20 times capital amount just takes the psychological stress off you. Its like a bankroll with 20buyins in poker. In baccarat, there is no edge, its a negative expectation game but with the above progression and time management baccarat can be conquered, i dont see why a baccarat strategy cant be adopted into binary option.
Having said this, i dont trade binary. Its extremely tedious to do trading in this manner. I have use the strategy for baccarat in the past, it works but damn time consuming… just suck the life out of you… your time is always stuck in the casino… family and friends precious bonding time is LOST.
Personally, i dont recommend binary. Regular forex trading is much better. Its more relax as you can hold and drawdown your position or you can hedge your position or even do averaging. Henceforth, more time for family and friends!
Think again… if you really want to journey towards binary… life is short… we dont have many decades to live life…
Trading binary, i think is making money the harder way with respect to conventional forex trading. However, to do binary or not is still your prerogative.
How can we get in contact?
Hi Will,
I made & lost a great deal from binary options trading. They all are cheaters, take away your money without giving the profits. Payment is not easy. And we fall in love of quick money & lose.
Please show me your site and its policies.
Thanks a lot.
Warm Regards,
A Hossain
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Hey Mr Hossain, I agree with you 100%.This was more for fun because I love the simplicity of Binary Options but I agree with you they are all scammers.
Do not deposit money on a binary options site. They are essentially casino’s and they don’t want you to win.
3 Shady Things I’ve Seen:
1: They will manipulate the price on you to make you lose.
2: They won’t payout.
3: Or if they do pay out they will just ban you afterwards.
I’ve heard lots of stories of Binary Options sites charging peoples cards unlawfully too.
So yeah, Binary Options are fun but I don’t trade them for real money anymore.
By the way I’m the OP, I forgot my old login.
I don’t see binary options as any form of trading. Looks pretty much like gambling and can’t have a strategy.
Yep, with all the shennanigans going on it’s pretty much gambling.
Bro, dont do binary options that is the worst investment decision, the risk rewas ratio is against you.
Actually, I am going to be straight honest, binary options is not trading is actually gambling.
Thank you for good advices. BO is really horrible, gambling.