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Rekon's Binary Option Trading with M15 Chart

  • #421
  • Jan 13, 2014 11:26pm Jan 13, 2014 11:26pm
So, today is holiday here, I thought of giving some more time finishing this App, I am now adding further drill down views once we get a strong signal.

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  • #422
  • Jan 13, 2014 11:31pm Jan 13, 2014 11:31pm
So, if you notice the template now, there is no Signal, because the instrument is not highlighted with Red (PUT) or Green (Call), the reasons are drill-downed further as we can clearly see the technical indis are mixed.

Further, important factor is the best entry points are now mentioned, which are fib points.

Pivot: do not enter at this point, price can move any ways.
Put: entry from the R3, R2, R1 zone
Call: entry from S3, S2, S1 Zone
  • #423
  • Jan 13, 2014 11:34pm Jan 13, 2014 11:34pm
So, I Call for TaTa Motors because the price was way down from the Supports and Pivot points, but signal was Strong Buy (However mixed..but a fact is price always tries to come back at pivot)
  • #424
  • Jan 13, 2014 11:36pm Jan 13, 2014 11:36pm
For Forex related signals, I will wait for these news release events, later will scan and take entries for 1-2 hours.

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  • #425
  • Jan 13, 2014 11:40pm Jan 13, 2014 11:40pm
Quoting rekon67
So, if you notice the template now, there is no Signal, because the instrument is not highlighted with Red (PUT) or Green (Call), the reasons are drill-downed further as we can clearly see the technical indis are mixed. Further, important factor is the best entry points are now mentioned, which are fib points. Pivot: do not enter at this point, price can move any ways. Put: entry from the R3, R2, R1 zone Call: entry from S3, S2, S1 Zone

Good morning Bro and great job. I'm already loving this new additions. how is the harvest going?
  • #426
  • Jan 13, 2014 11:42pm Jan 13, 2014 11:42pm
Quoting Emmpoli
{quote} Good morning Bro and great job. I'm already loving this new additions. how is the harvest going?
My neighbours are in festive mode, I am only working with this dumb machine
  • #427
  • Jan 14, 2014 12:48am Jan 14, 2014 12:48am
Okey, I just sent the "Advanced version" of "Rekon Xs" files and template to all the requestors. Please check your inbox, set it up and post your trades or doubts here (if any). Thanks.
  • #428
  • Jan 14, 2014 2:05am Jan 14, 2014 2:05am
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  • #429
  • Jan 14, 2014 2:18am Jan 14, 2014 2:18am
Next, we need to monitor these instruments and for Put we will enter when price reach the R-Levels or above pivot and for Call we need to enter in the Support zone or below pivot.

Expiry will be 2 hours, but calculate the time from now on ... so if we get our point 30 mins later then expiry will be for 1 hr 30 min.
  • #430
  • Jan 14, 2014 2:29am Jan 14, 2014 2:29am
Summary from the above Market Scan:

It is not a good trade set up, and lack of synchronisation I would say. Better stay away from any trade at the moment.

A. Good Sync and profitable set up: Lets say in this example we have 4 USD pairs, we can see 2 are in Strong Sell and 2 are in Strong Buy (Out of 5) so what is the overall strength for USD ~ 1+1+0 -1 -1 = 0; It is not good for binary set up. The more strength on composite pairs the more it is good for a particular instrument.

Bottomline, if there is no good set up then why trade and lose money?
  • #431
  • Jan 14, 2014 2:34am Jan 14, 2014 2:34am
B. Good Sync and profitable set up: An excellent example of this sync is here. We had "Call" for all AUD pairs and all won.
  • #432
  • Jan 14, 2014 2:40am Jan 14, 2014 2:40am
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  • #433
  • Jan 14, 2014 2:46am Jan 14, 2014 2:46am
Another co-relation we can draw from the Market Scan is,

there are 4 NZD pairs,
The Base which is NZD/USD is on Strong Buy, so the other pairs with NZD such as EUR, GBP, AUD will be weaker ~ PUT

Same I can see in the Market Scan - together. So not the best but a good ODD favours EUR/NZD put.
  • #434
  • Jan 14, 2014 3:02am Jan 14, 2014 3:02am
It was very close, I should not have taken this, PUT near the support zone is always bad

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  • #435
  • Jan 14, 2014 3:17am Jan 14, 2014 3:17am
Over Trading

Yes, I do

So far the systems I am developing for intraday and binary, I find that, because of Alerting and Signaling facility these systems make you glued on your system as these systems can be used for M15 to Daily timeframe.

I would urge, if you are using them please do not trade all day long, rather create 2 to 3 sessions of 2 hours each eg. after London Open, US Open, London Close etc.

Remember, it is not the quantity of trades you do but always the quality of trades you take which will help you to build wealth (not only money )
  • #436
  • Jan 14, 2014 3:53am Jan 14, 2014 3:53am
Hi REKON67!,


I´m studying and learning from your trades...So, in your last EUR/NZD trade, your advice is should have been waiting price to reach 1.6315 - 1.6340 RESISTANCE ZONE before trade PUT OPTION?...I think I´m understanding better and better your SCAN TOOL...

Thanks a lot for your help and effort!!

Fer
  • #437
  • Jan 14, 2014 4:25am Jan 14, 2014 4:25am
Quoting freedomfer
Hi REKON67!, I´m studying and learning from your trades...So, in your last EUR/NZD trade, your advice is should have been waiting price to reach 1.6315 - 1.6340 RESISTANCE ZONE before trade PUT OPTION?...I think I´m understanding better and better your SCAN TOOL... Thanks a lot for your help and effort!! Fer
Absolutely correct! Although I took it early, but then it just reached around the pivot level which is around 1.6290-1.6300. I would have taken it at that time for a better entry point!

This only proves, if we take trades where the stats and maths favours the price rather than taking random entries, this will only increase the chances in our favour that we will be more in the winning side!
  • #438
  • Jan 14, 2014 4:40am Jan 14, 2014 4:40am
So, we can set a frequency of scanning the market data, once in every 2 hours is what I prefer, or just half an hour after a major market open.

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  • #439
  • Jan 14, 2014 4:51am Jan 14, 2014 4:51am
So out of 23 equities from UK market, it shortlisted 7 instruments as "Hot". And only one is providing strong signal.

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  • #440
  • Jan 14, 2014 4:56am Jan 14, 2014 4:56am
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