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Binary Forex Trading Journal

  • #81
  • Aug 20, 2009 1:52pm Aug 20, 2009 1:52pm
Quoting lucashammer
Thanks for the input. What time frame are you talking about with the 50 SMA and the candles touching it? If it's the 1 hour, then I believe I see what you're talking about. I think my biggest problem is with my entry time. Had I waited until yesterday morning to make the trade vs. the night before I would have seen the price action before my entry and I would've been on the other side of it. But thanks for the encouragement. This is a day that I really need it. That set me back quite a bit.
Go to the daily chart. The 50 sma has not been broken but has been touched.
  • #82
  • Aug 20, 2009 2:19pm Aug 20, 2009 2:19pm
Here is my updated results. the 2nd picture shows what I have earned every day. How does your graphs look like?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: graf.JPG Size: 32 KB
Click to Enlarge Name: graf2.JPG Size: 26 KB
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #83
  • Aug 20, 2009 4:37pm Aug 20, 2009 4:37pm
Quoting PeterFM


30 minutes ago I was shouting at the screen.

Go down - Go down

And it's not even my money riding on this
Haha. Thanks for the support. I appreciate it. I was on lunch when it jumped and I was back after it dropped so all I saw was the wick. Still made me feel sick to my stomach. Made my money though. Starting the slow climb back to where I was.
  • #84
  • Aug 20, 2009 5:45pm Aug 20, 2009 5:45pm
Quoting lucashammer
Haha. Thanks for the support. I appreciate it. I was on lunch when it jumped and I was back after it dropped so all I saw was the wick. Still made me feel sick to my stomach. Made my money though. Starting the slow climb back to where I was.
Smoking and eating...

and don't put a trade on just before sex either or then you'll have to give up the last pleasure in life .
  • #85
  • Aug 20, 2009 5:57pm Aug 20, 2009 5:57pm
Let me give my 2 cents on e/u for friday. I think it stays above 1.4200. You can get this at nadex right now risk 76 to win 24. It might go down but i don't think it will stay down. Hopefully there isn't a big sell off in the market on friday. But this is not a big risk so let's see what happens.
  • #86
  • Aug 21, 2009 5:33am Aug 21, 2009 5:33am
Quoting PeterFM
Smoking and eating...

and don't put a trade on just before sex either or then you'll have to give up the last pleasure in life .
See, if I could just get rid of the day job, I'd be alright.
  • #87
  • Aug 21, 2009 5:42am Aug 21, 2009 5:42am
Quoting lucashammer
See, if I could just get rid of the day job, I'd be alright.
I don't have a day job (or so my wife keeps telling me ) but she sees trading as GAMBLING despite my stats.

I officially retire next Tuesday (65 in the UK) and am trying to convince her that I could get a better return on my pension fund's 25% tax-free cash lump sum than the annuity providers will give me on the rest.

Uphill task and risk aversion are the best ways of describing the barriers I have to overcome.

Getting back to you, I've built my accounts by starting slow and then upping the risk profile once I had a real handle on what I was trying to achieve and how I could handle different amounts of draw down at different levels of risk.

Most of my trades are at 5% now in the spot market but I need a bigger pot to try pushing that envelope in BOs.

Glad yesterday's trade worked out for you.
  • #88
  • Aug 21, 2009 8:28am Aug 21, 2009 8:28am
Quoting PeterFM
I don't have a day job (or so my wife keeps telling me ) but she sees trading as GAMBLING despite my stats.

I officially retire next Tuesday (65 in the UK) and am trying to convince her that I could get a better return on my pension fund's 25% tax-free cash lump sum than the annuity providers will give me on the rest.

Uphill task and risk aversion are the best ways of describing the barriers I have to overcome.

Getting back to you, I've built my accounts by starting slow and then upping the risk profile once I had a real handle...
Thanks for the advice. I'm working on figuring out what I'm going for here. I have a very small account but I'm wanting to be able to increase it at a steady rate of 3% average a day. Speaking of which, trying to figure out which way I want to trade today if at all. I'm thinking, it won't drop below 1.4300 before 3:00 ET. After the shot up this morning it appears to be ranging, but I'm just worried of a big sell-off or retrace before 3. Any input?
  • #89
  • Aug 21, 2009 8:49am Aug 21, 2009 8:49am
Quoting lucashammer
Thanks for the advice. I'm working on figuring out what I'm going for here. I have a very small account but I'm wanting to be able to increase it at a steady rate of 3% average a day. Speaking of which, trying to figure out which way I want to trade today if at all. I'm thinking, it won't drop below 1.4300 before 3:00 ET. After the shot up this morning it appears to be ranging, but I'm just worried of a big sell-off or retrace before 3. Any input?
I've set up another demo with Nadex so getting back into the lateral thinking mode.

These are the trades I've done today (I had a small winner yesterday).

The top order is a sell (ie EURUSD NOT to close above 1.4400), the rest are buys. Ultra safe mostly I think, but that's the way I see myself doing this eventually.

I'll stick up another piccy with my S/R areas marked.

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  • #90
  • Aug 21, 2009 8:50am Aug 21, 2009 8:50am
Naked but enough for me....


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  • #91
  • Edited 1:58pm Aug 21, 2009 9:30am | Edited 1:58pm
Quoting PeterFM
Naked but enough for me....


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I'm a big fan of naked. Slowly worked my way down to it. Indicators get in the way if you ask me. Either way, I got into a sell at 1.4400. I lost a couple of points of potential profit because as I was entering the trade, the price was dropping, and it slipped, putting me in as a pending order instead of a regular order. Either way, looks like I'm way into the green on this one. Glad that I didn't take that 1.4300 trade now though, as I watch it plummet.

RESULTS: Won the trade (assuming there's not a 70 pip jump in the next 2 minutes) and added another 2% on to my account. Risking much less than I was before and watching more of the price action vs. gambling. I'm only going to be placing trades on the day they close from now on vs. the day before. From my original investment into this account, I'm now only down about 8%, so I'm feeling a little better about myself.
  • #92
  • Aug 21, 2009 3:44pm Aug 21, 2009 3:44pm
Quoting lucashammer
RESULTS: Won the trade (assuming there's not a 70 pip jump in the next 2 minutes) and added another 2% on to my account. Risking much less than I was before and watching more of the price action vs. gambling. I'm only going to be placing trades on the day they close from now on vs. the day before. From my original investment into this account, I'm now only down about 8%, so I'm feeling a little better about myself.
Well done.

I ended with 4 winners out of 4 today. Sort of unsure whether it was (re-) beginner's luck or the result of razor sharp analysis .

I'll do some more trades next week and see how I go again.
  • #93
  • Aug 23, 2009 11:21pm Aug 23, 2009 11:21pm
Just wanted to give an update on my binary trades. I am currently up 117% in my account. Have had a few really rough trading days but have weathered the storm or was able to pullout without a loss.

Hi Lucas,

Sorry to hear about that loss and I think you are going in the right direction by paying the majority of your attention to price action. I also tend to lean a lot with pivot zone/points with price action. That said price still ways more in my decision making.


Best of luck to everyone making money this week!
  • #94
  • Aug 24, 2009 8:37am Aug 24, 2009 8:37am
Quoting cmoon10
Just wanted to give an update on my binary trades. I am currently up 117% in my account. Have had a few really rough trading days but have weathered the storm or was able to pullout without a loss.

Hi Lucas,

Sorry to hear about that loss and I think you are going in the right direction by paying the majority of your attention to price action. I also tend to lean a lot with pivot zone/points with price action. That said price still ways more in my decision making.


Best of luck to everyone making money this week!
Thanks. Glad to hear you're doing well. Looking for my first trade of this week. Trying to identify some good S/R levels where there are still trades available.

EDIT: In a sell of EUR/USD > 1.4400.
  • #95
  • Aug 24, 2009 2:34pm Aug 24, 2009 2:34pm
Up another 3%. Almost completely recovered from the huge loss two weeks ago. Then I'm planning on always being in the green.
  • #96
  • Aug 24, 2009 2:45pm Aug 24, 2009 2:45pm
In actual fact I added to this as price dropped early on, so got in at 90 & 83 - EURUSD to close above 1.4280. It just held on .

Not sure why the trades are duplicated

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  • #97
  • Edited 11:41am Aug 25, 2009 9:05am | Edited 11:41am
Quoting PeterFM
In actual fact I added to this as price dropped early on, so got in at 90 & 83 - EURUSD to close above 1.4280. It just held on .

Not sure why the trades are duplicated

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So today, I find myself in a buy for EUR/USD > 1.4300. I'll be watching this one closely.

Had me a little nervous there after the drop, but it's on it's way up so I think I'll be good. Think the bulls are going to take this one.

UPDATE: Well, it's holding at about 1.4335 and I'm about to head to lunch. I'll update in about an hour when I get back.
  • #98
  • Edited 1:18pm Aug 25, 2009 1:05pm | Edited 1:18pm
Got out again as it went against me. Right after I sold off for a loss, it bounced. I swear... Just not my month... My technical analysis was perfect. My execution was terrible.

ADD: I also jumped in for a sell on EUR/USD > 1.4320. Probably not the best idea, but I'm trying to make back some of my money.
  • #99
  • Aug 25, 2009 2:38pm Aug 25, 2009 2:38pm
I've been out working all day and when I got home my cable service (computer, telephone & TV) was out of action.

When I did get the charts up and running (about 30 minutes ago) I looked at EURUSD and saw a perfect setup at 1.4270 that I would have had to take as a buy to close above. I've no idea what the price would have been but I'm sure it was cheap.

This is what I was mentioning in the PM I sent you. BTW, I don't know what happened to the PM you sent me but there wasn't any text in it. Want to try again?

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  • #100
  • Aug 25, 2009 4:36pm Aug 25, 2009 4:36pm
Quoting PeterFM
I've been out working all day and when I got home my cable service (computer, telephone & TV) was out of action.

When I did get the charts up and running (about 30 minutes ago) I looked at EURUSD and saw a perfect setup at 1.4270 that I would have had to take as a buy to close above. I've no idea what the price would have been but I'm sure it was cheap.

This is what I was mentioning in the PM I sent you. BTW, I don't know what happened to the PM you sent me but there wasn't any text in it. Want to try again?

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Yeah, I saw that opportunity but too late. Working and all. I would have ended up with a winner on my EUR/USD > 1.4300. It would've been close and stressful for a few minutes, but I would've made it. Bounced just like I suspected, I just didn't have the stomach for it today. Made some of my money back on my second trade though which was a sell on EUR/USD > 1.4320. Oh well, you live, you learn, then you get rich.

EDIT: By the way, sent that PM.
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