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Binary Forex Trading Journal

  • #41
  • Aug 8, 2009 10:59am Aug 8, 2009 10:59am
Quoting lucashammer
Yes we are risk managers. I'm up 11%. Didn't take a trade today due to NFP. The last time there was a big news announcement I lost my 36% profit. And the daily/weekly binaries close at 3 p.m. ET. The intraday have many more options for closing times.
Congrats Lucashammer on the come back! I agree NFP day is a dangerous day to trade and I almost stayed out of the market as well but the market showed its hand and I took a trade and I am now up 27%. Have a great weekend everyone!
  • #42
  • Edited 5:43pm Aug 10, 2009 5:39pm | Edited 5:43pm
Well, I just made my first screw up... Bought a contract instead of selling... Damn damn damn. Lost 8% of my account on that one. So now I'm going for a trade that will put me up to 6% profit, when it should have put me up at 14%... Oh well, next time I'll pay more attention.

EDIT: By the way, in a trade that the EUR/USD won't cross above 1.4300.
  • #43
  • Aug 10, 2009 7:55pm Aug 10, 2009 7:55pm
Im so glad i found this thread, thank you all!!!!

Cheers
Eric
  • #44
  • Aug 11, 2009 10:35am Aug 11, 2009 10:35am
Quoting efx001
Im so glad i found this thread, thank you all!!!!

Cheers
Eric
Welcome to our thread. If you have any questions, let me know. And feel free to post your trades in here as well.
  • #45
  • Aug 11, 2009 5:19pm Aug 11, 2009 5:19pm
Just took a sell of EUR/USD > 1.4300. Going for an additional 5% on my account. Get me back up to what I lost. The fees are hurting some now on Nadex since my 4 weeks of no fees is over. I have the 5 SMA below the 8 SMA both pointing down and the ATR at 135. Only way this could go wrong is a spike through both SMAs against the and over the ATR. Here goes nothing.
  • #46
  • Aug 11, 2009 6:53pm Aug 11, 2009 6:53pm
Lucas,

Thanks, I love this thread. I'm wondering if there any good educational resources that you would recommend to someone that has a year of live forex experience, but is wanting to learn more about binary options, and strategies.

Thanks Again!
  • #47
  • Edited 5:40pm Aug 12, 2009 10:00am | Edited 5:40pm
Will see if I can find any info on it other than the thread Yoda Glenn started. By the way, I'm now 88 pips from the strike point (which I am betting against) so the nerves are starting to set in.

ADD: Finally, it has started to move my direction. I'm over 130 pips from the strike point with 35 minutes left to go. Barring an act of God, I'm in the clear. Probably shouldn't have traded with this much news coming out today, but I am a trader. It's what I like to do.

Results: Trade ended in my favor. 11% up on the account. A little ahead of schedule (I have a schedule counting down towards my financial freedom)
  • #48
  • Aug 12, 2009 1:10pm Aug 12, 2009 1:10pm
sold a put on usd/chf@ 1.8040 up 270$ on paper still not sure of what im doing ..lol ut thanks to lucash and this thread im doing it right or wrong taking action is the key.

Cheers
Eric
  • #49
  • Aug 12, 2009 1:22pm Aug 12, 2009 1:22pm
Quoting efx001
sold a put on usd/chf@ 1.8040 up 270$ on paper still not sure of what im doing ..lol ut thanks to lucash and this thread im doing it right or wrong taking action is the key.

Cheers
Eric
Are you trading with a demo account? And what made you choose the trade that you took? I only ask because I've been at this a little over a month and I'm starting to get a pretty good feel for the binaries.
  • #50
  • Aug 12, 2009 1:31pm Aug 12, 2009 1:31pm
Quoting Penelo
Lucas,

Thanks, I love this thread. I'm wondering if there any good educational resources that you would recommend to someone that has a year of live forex experience, but is wanting to learn more about binary options, and strategies.

Thanks Again!
http://www.forexfactory.com/showthread.php?t=173735

That would probably be the best place to start. I will find more useful information and post it here as I find it. A year of live forex is really going to help with trading binaries. I'm actually using a trading strategy that I used in live spot forex to trade the binaries now, but the rules are much more lax because of how I'm trading the contracts.
  • #51
  • Edited Aug 13, 2009 4:05pm Aug 12, 2009 6:45pm | Edited Aug 13, 2009 4:05pm
Have a buy at EUR/USD > 1.4040 at 3pm ET tomorrow. Going for a 3% increase.

ADD: Won the trade. Making another in about 1 hour.
  • #52
  • Aug 12, 2009 11:48pm Aug 12, 2009 11:48pm
Hi lucashammer...interesting thread

i been demoing the IGmarkets platform...puredeal

i guess it starts only during UK session

I have no idea how i place my trade...but recently been entering into SELL binary positions, for some reason it made profit. Positions i entered are mostly where the (in the money/at the money)value is almost 0. I didn't do any technical analysis at all.

Was it lucky or just the demo account is misleading?
  • #53
  • Aug 13, 2009 7:37am Aug 13, 2009 7:37am
Quoting hewtwok
Hi lucashammer...interesting thread

i been demoing the IGmarkets platform...puredeal

i guess it starts only during UK session

I have no idea how i place my trade...but recently been entering into SELL binary positions, for some reason it made profit. Positions i entered are mostly where the (in the money/at the money)value is almost 0. I didn't do any technical analysis at all.

Was it lucky or just the demo account is misleading?
You were lucky. Without technical and fundamental analysis I think you will lose in the long run.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #54
  • Aug 13, 2009 12:26pm Aug 13, 2009 12:26pm
Quoting lucashammer
Are you trading with a demo account? And what made you choose the trade that you took? I only ask because I've been at this a little over a month and I'm starting to get a pretty good feel for the binaries.

Im trading a demo, i used the 50 moving average on that trade it was completely under the 50 so i went short on the put as i would have on a regular live spot.

Cheers
Eric
  • #55
  • Aug 13, 2009 2:11pm Aug 13, 2009 2:11pm
Quoting hewtwok
Hi lucashammer...interesting thread

i been demoing the IGmarkets platform...puredeal

i guess it starts only during UK session

I have no idea how i place my trade...but recently been entering into SELL binary positions, for some reason it made profit. Positions i entered are mostly where the (in the money/at the money)value is almost 0. I didn't do any technical analysis at all.

Was it lucky or just the demo account is misleading?
I would say a little bit of both. Luck because with no tech. analysis or fundamental analysis, it's hard to tell where the market is going. My experience with Nadex's demo account was somewhat misleading. The prices aren't updated on the demo near as often as on the live account so by the time you see a move happening, the prices have adjusted to reflect it.
  • #56
  • Aug 13, 2009 5:15pm Aug 13, 2009 5:15pm
Just took a sell of EUR/USD > 1.4440 for a 2% gain potential. That will put me about on track as far as my goals for income off of this. In a year, I plan to not be working. Risky business I'm in, but if I'm anything, it's a risk manager.
  • #57
  • Aug 15, 2009 7:09pm Aug 15, 2009 7:09pm
Ended this week with a 16% gain on my account. So far my plan is working well. We'll see how it keeps going.
  • #58
  • Aug 16, 2009 7:20am Aug 16, 2009 7:20am
Lucashammer,

I have read this thread thoroughly several times and am attempting to develop a strategy for the binaries.

Are all of your trades by taking a position opposite of the current trend when the actual market price is ATR + 30 away from the position you are opening? If I am correct, this would put you in a position with high risk and low reward, but a high probability trade. Correct?

Would it be possible for you to post the actual market price and time you entered the trade when you open a position.

Thanks for your feedback and have a great rest of your weekend!

Regards,

Mark
  • #59
  • Aug 16, 2009 12:22pm Aug 16, 2009 12:22pm
Quoting lucashammer
Ended this week with a 16% gain on my account. So far my plan is working well. We'll see how it keeps going.

Great work Lucash!!!
  • #60
  • Aug 16, 2009 11:59pm Aug 16, 2009 11:59pm
any1 any ideas igmarkets puredeal binary closes at UK market close or US market close?
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