Johnny's Journal

Over the last week I've started to trade binary options after several years away from Forex. So far my efforts have resulted in success which is why I've decided to properly track everything going forward.

Main Strategy - Identify potential 1M support/resistance. If price looks like it will reverse (candle stick pattern, stalled momentum, large wicks, fib level etc) place a trade in the opposite direction for 5 minutes. Almost entirely based on gut instinct. 8am to 11am EST

Experimental Strategy - Same as above except after New York close and before Tokyo open. During this time some markets will trade in predictable ranges of a few pips.

Markets - FX pairs EUR/USD AUD/USD and NASDAQ-100 Futures

Starting Balance @ $75 / 0.271 BTC

Total Trades - 11

Win - 7

Draw - 1

Loss - 3

Current Balance - 0.304 BTC ($ 86)

Although, the USD equivalent will vary because my account currency is Bitcoin rather than USD

Unfortunately I don't have stats for the first 4 trades other than amount and currency pair.

1. AUDUSD UP 5Min - 0.01813 BTC ($ 5.03)

Result - Win 0.032354 BTC ($ 8.98)

2. AUD/USD Down 5Min - 0.01441005 BTC ($ 4.00)

Result - Win 0.026374 BTC ($ 7.32)

3. AUD/USD Down 5Min - 0.02518005 BTC ($ 6.99)

Result - Win 0.046298 BTC ($ 12.86)

4. EUR/USD Down 5Min - 0.01817005 BTC ($ 5.05)

Result - Win 0.03333 BTC ($ 9.26)

Now on to today's last trade and the start of this journal.

Nothing interesting was happening with the currency markets so I decided to check out futures. NASDAQ-100 was dropping like a rock around 3:00-3:10 pm. At about 3:15pm it met support and I decided to place a call (up) option for 5 minutes @ $4611.75. Except something went wrong and the trade duration was set for 2 hours 45 minutes. I thought for sure this would be my first loss. As price pushed lower and lower I watched TV to pass the time (Stargate SG1). When the show was over NQ had traded back above the entry price. Soon after the futures market closed and my trade ended with a win.

5. NASDAQ-100 UP 165 Minutes - 0.01820151 BTC ($ 5.05)

Result - Win 0.034293 BTC ($ 9.51)

Trade stub

https://www.anony.ws/i/2015/07/23/Nasdaq100buy5.png

NQ-100 Chart noting entry

https://www.anony.ws/i/2015/07/23/NQTrade1.png

As a side note had the trade been set for 5 minutes as intended it also would have won.

Between this morning and mid day EST I drew support and resistance levels. The first chart (GBP/USD) depicts the chosen levels and chart information from hours ago. Following is another chart proving these levels are respected almost to the pip.

Trade 6

After an uptrend aud/usd retraced to 50% which was inline with a support level as marked on the chart.

AUD/USD UP 5Min

Entry - 0.73776

Amount - 0.03603005 BTC ($ 10.03)

Result - Draw

When a draw occurs the broker returns 100% minus a few cents (transaction fee)

Trade 7

EUR/USD is approaching the upper range of a descending channel. I waited for momentum to slow but not for confirmation (candle pattern/wick etc). As correlation USD/JPY generally trades in the opposite direction of EUR/USD. U/J was trading down into heavy support at the same time as E/U was trading into the upper portion of its channel. Which adds a level of confirmation when you don't have candle stick patterns or other means to confirm a direction.


EUR/USD - 0.03622005 BTC ($ 10.03)

Entry - Down 5 Minutes @ 1.09774 (Noted as pink line on chart)

Odds - 1.85x

Return - 0.066722 BTC ($ 18.48)

Result - Win

This trade brings the account to $30 profit and breaks the $100 barrier ($105) OP updated

Trade 8

Sold/Down AUD/USD expecting rejection from $0.73000 level and double top formation. Hesitation was the downfall of the trade. I waited 2 minutes for confirmation instead of taking the trade at the 0.7300 rejection candle.

loss -$10

Trade 9 - $10 loss can't remember the details except one night I couldn't sleep and tried to trade during European open.

Trade 10

USD/CHF - 0.05299005 BTC ($ 15.05)

Entry - Put/Down @ 0.96804 as price was trading into 15M resistance.

Odds - 1.85x

Result - Win

Trade 11 - USD/CHF 0.04224005 BTC ($ 12.00)

Entry - Put/Down upon formation of double top. Entered about 1 minute to early.

Result - Loss

Observations

- New York Open till noon has been the most predictable compared to any other session.
- Most of my wins have been from trades found within minutes of opening MT4.
- Losses occur when trying to force a trade when one doesn't exist.
- Stick to one set of money management rules.

Balance : 0.304 BTC ($ 86)