Binary Options 120sec Strategy

Hey there!

I am very new here as a member, but i am reading in this forum since ca. 1 year.

Lately, i posted a Binary Options Strategy in this Thread:
http://www.forexfactory.com/showthread.php?t=499706

After getting request for more info, i decided to open this new thread. While i could answer your Pm, collaborating in a new thread is a lot better.

Firts things first:
I am still considering myself as a noob. I am not profitable but i am recovering
(Overall still lost money, but slowly making it back.)


Here it is; my Binary options Strategy:
Update!

You will need the following indicator
Bollinger Bands with
Moving Average: 20
Deviation: 2,3
on the
1M minute Chart.

Bollinger Bands with
Moving Average: 20
Deviation: 3,2

Rsi 7


This is it.
You trade simple „fallbacks into the BBs“.
If the price will go above the BBs, you will enter a 120sec Put Option.
I the price will go under the BBs, you will enter a 120sec Call Option.

In both cases the Rsi7 has to be in the Overbought/Oversold zone.

Wait for a candle to close, then open an option.
Only have one Option open at a time.

1. Avoid News
2. Have a Profit Target! When you reached it, stop.
3. ​Have a Max Loss! When you reached it, stop.

I hope, we will get this strategy to the green zone together!
Will post picture of latest trades i took
​

Here are a few BAD examples, were i lost:

Just yesterday, trading after the German Pmi.
Got in on a put option and lost 50 + 100 + 250 = 400



As you can see, i was not aware of the news. Was a mistake, but will not do that again



On these trades i didn´t take a look on the Rsi.
I could have saved myself from loosing 20 + 50 + 100 + 250 = 420
After loosing this amount i didn't had the guts to double up again.
Was better for me, not sure i had won these. (depending on the price i would´ve got. below 1,27075 everything would´ve been fine...)

Here are good examples:

Again, yesterday.
Got in on 5:03 (Gmt) for 1,26409.
Doubled up on the next candle. Were lucky and got 1,26419.
Both options went to the green zone.
Traded 50 + 100 = 150. Profit was 105



On October 22nd:
Got a Looser 20, two winners 50 + 100
Overall profit was 85

did I read that correctly....a 120 second option?

Yes. You look on the 1m charts and trade 120sec Binary options

wow, so it expires in 120 seconds...

damn thats quick..I'm an old man, I can't do anything in 120 seconds...


good luck brother..

maybe contact Swingman http://www.forexfactory.com/swingman , he can quickly made an indicator to backtest the results with different settings, he did this for the "BO System? Here is "The Italian jOB" " thread. this is a big help and time saving.

Hello ,

My advice to you after i look at this promising system, is to play AFTER candle close out in 1 m, means wait for the candle to close first , then enter put for 2 minutes (120 seconds) which means two candle ahead , and then martingale not less than triple the previous trade , vice versa for call trade.

ex. if you initially enter put for 5 dollars , next martingale trade will be 15-20 dollars , to cover your loss and gain some money.

DONT TRADE before and after 30 minutes of news , in the time of news , no technical is working .

now , revise again the charts you posted , and you will find your self winner max in third martingale trade .

Happy trading

Steeko

@Steeko: So you would have only one position open?

If this one looses, you would open another one?

Had a good trade, price was outside the 3 BBs
Have a look:

exactly , dont swim against the ocean wave , leave it to finish then ride it back after two minutes

by the way , made the RSI value 7 , 14 is too much for one minute chart .

Yeah!
Awesome Trades:
20 + 50 = 70 Risk

Made 49 net Profit

Chart:

Another one:
14 net Profit



On both Trades, the BBs with Deviation 3 were broken and the Rsi was near the Overbought/Oversold-Area.

@steeko:
Yes, after making few good trades, that were NEAR the Area of Rsi14, i will try it with a Rsi7 maybe a Rsi9

I don´t know if i am patient enough to wait an option to expire.
I like the fast-paced style of trading.

But maybe yore right, will try it next week

By the way:
Another 14 Profit

@JossStick , its only 2 minutes .. come on .. be patient.

keep humble when the market goes with u .

you have news after 50 minutes .. dont trade 30 minutes after and before .. then enjoy

@steeko: Of course you´re right! I will try to improve my patience

I changed the Rsi to 9 Periods now.
Had another good trade:


News are upcoming:

Will only watch and observe. (First lesson on the way to patience)

Hi Jossstick,

Just wanted to practice my English by commenting your thread)))

'cause binary options is a damm stupid stuff. There's NO WAY you can succeed in this affair. I can share my experience and common sense with you. Last year i lost some 5.5 K on these options, and it is not because i was a noob like you are, but just because this game leaves you no chance of winning. Every time you loose you loose 100 out of 100, and every time you win, you win 60-85 out of 100 (whatever they - organizors - offer you). This return is worse than in a casino, where the mathematical advantage of the latter lies around 2.7% (talking about roulette).
If your chances of identifying the direction of futher movement are 50/50, then, as you can calculate yourself, you'll get out of this business, depending on which portion of your deposit you put at stake, very quickly (if there's no money management from your part) or slowly and painfully, if you do have MM.

Let's imagine that your abiliy of identifying real support/resistance levels, where the price can bounce from, is better than 50/50 (which I doubt very much - it requires knowledge and experience to locate those levels). In such a case you'll however lose money again because there's a TIME FACTOR. This is what you can never predict. The price can remain on a S/R forever before it moves your way. And this brings us to the same situation of uncertainty in our attempts to forsee the next move of the price at a precise time. And that, coupled with mathematical disadvantage, will make you loose sooner or later.
Talking about Martingale, it will only speed up your failer to succeed - a long sequence of loosing trades, that will make you increase the traded amount and which will actually mean abscence of Money Management, will get you out of business very fast.

Hope to have planted seeds of doubt in your brain and thus saving your time and money.

Regards,

Mike

Are there any options that have 1:1 RR?