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1 minute binary options journal 0 replies
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Dislikedany1 any ideas igmarkets puredeal binary closes at UK market close or US market close?Ignored
DislikedLucashammer,
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...Ignored
DislikedSo I went outside for a smoke, came back and it had moved 40 pips against me. Closed it out for a 36% loss, which puts me out of money on my initial investment...Ignored
DislikedI thought your trade was to close below 1.4280 today.
The highest price I've seen is just below my own resistance barrier @1.4270.
I know there are a couple of hours to go yet, so did you close yourself?
Or did I mis-read your order?Ignored
DislikedNo, you read the order correctly unfortunately, but after it had moved 150 pips against me, I couldn't risk it going under by staying in for 4 more hours....Ignored
DislikedSo let me ask you what made you make the trade? I know it's easy to say you should have done this or that after the fact. But the only way to learn is by losing. I know next time you trade you will be much more careful. Believe me been there. On the e/u chart place a 50 sma. This sma works well with this pair. If you notice the last 3 candles touched the sma but really never penetrated downward....So right there you knew you had some good support. So your trade could have been to buy >1.4000 or whatever would be better for you. Because the low this...Ignored
DislikedNo suggestions really. It's a bit like watching price draw down to a stop loss in spot FX, isn't it?
You either trust your assessment of the chart or close out. It also depends on what % of your fund is on the line. I'll assume you had a bigger position on this trade, in money terms, than you would have had in the spot market. I'd bet that if you had had a minimum stake on you would probably have held on. Maybe not, but I sense there was extra pressure due to the size of the trade.
So, if I have a suggestion, that's it really. Try and grow a...Ignored
DislikedAfter some time doing this stuff, it becomes easier to read between the lines on someone else's trades. I could see all the things that affected my emotions in the past. Hindsight, as is often said, is a wonderful thing.
I have a EUR long struggling to make my TP at 1.4253 so if I don't make money today you will. So there's a silver lining on every cloud.
When I eventually get going on binaries I'll play it much like you but I have a strong long bias on the EUR so would probably be looking for Support areas that I felt wouldn't be breached rather...Ignored
DislikedNow I've got to worry about your trade .
To be honest, if it had been available (I haven't looked at the BOs for today) my Resistance would have been for a sell against 1.4270.
It looks as if they've tried and failed again to get through 1.4250 after a strong push so....Ignored