I think I have typical situation like many other regular traders, but I just want to ask if there are any control - management for unexpected spike, when you see no fundamental news in that trading period, I trade period from 9pm to 10pm my time GMT + 2. what a hell going sometimes in market and mostly in last 5 minutes when I do trade from 9pm to 9:30pm or from 9:30pm to 10pm, in last few minutes sometimes happens huge spike against my signals and I lose the money. For example I do call EUR/USD from 9:00 to 9:30 and from 9:26 minute market change a lot and everything starts going against my trade.
All 26 minutes was everything fine, just after 26th minute it goes against and I lose, it is so hilarious to watch sometimes No Fundamental events in that hour, market trending is good enough and easy for me to read and make profitable decision, bust just some mystical things happens in even last minute or in last 30 seconds.
How to predict it, how to control it and how to manage trade (double trade or not?)
Usually 9:25-9:30 , 9:40-9:45, 9:55-10:00 and so on, is the time frame before EUR/USD binary option expires. You are not allowed to open any new contract in those last 5 min. Binary options brokers throw a lot of contracts in the market to offset the price to get in profit. After the price reached the desired level, they continuously adjust the forex orders to maintain it there. I noticed traders trying to push it where it was before but it constantly rallies back. When binary option contract expires at 9:30, 9:45, 10:00 the brokers close the forex orders and then the pressure is released. The price continues in the previous trend.
yeah, sometimes it goes as my predication, but sometimes not and if I traded not on good prices, than I lose money, but looks like I must accept or just quit binary trading, right?
yeah, maybe this is interesting by going with spy against spy, because nowdays call - put to say is easy, but most important is period: 15M, 30M 1H and so.
by the way, I have chosen the strategy: to double the stake and trade to 10pm if from 9:25 to 9:30 was huge spy against my trade and lost. what do you think?
No Fundamental events in that hour, market trending is good enough and easy for me to read and make profitable decision, bust just some mystical things happens in even last minute or in last 30 seconds.