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Rekon's Binary Option Trading with M15 Chart

  • #721
  • Jan 27, 2014 3:54am Jan 27, 2014 3:54am
Quoting rekon67
Post 718 Rekon Xs: Using Risk Table So above is an example of using the Risk Table (I am doing too much of RnD with my live account!) I took X1 on AXIS, Market Scanner showing me sell - which is the main trend. I saw the oversold signal and I go for Call. I took it for 3 hours - this is the RnD part The position was a winner for first hours and then it broke, it reached the Resistance level which brought heavey sellers and it broke all the supports for the hour. So, I took entry near s1/pivot for call, it was winner for an hour but then it took...

Good morning Bro, nice explanation. to my understanding, you are saying that after x3, you call it a day even if it was a winner, but you trade more than 3 times a day, how do you explain that or am i understanding you wrongly?
  • #722
  • Jan 27, 2014 4:01am Jan 27, 2014 4:01am
Quoting rekon67
{image}

looking at the scaner, you can see many overbought and over sold signal, how do we trade such instrument knowing fully well that a reversal or counter trend could occur?
  • #723
  • Jan 27, 2014 4:10am Jan 27, 2014 4:10am
Quoting Emmpoli
{quote} Good morning Bro, nice explanation. to my understanding, you are saying that after x3, you call it a day even if it was a winner, but you trade more than 3 times a day, how do you explain that or am i understanding you wrongly?
It is simple. We use further Xs when we face loss. We do not use Xs when we are already in profit.

In my Case, I use X2 when my first position is in Loss.

X2 and further Xs are there to grow the account exponentially, and by taking more Xs you are exposing your equity more. So as a part time trader I will be happy the more I take less Xs.

With the compounding factor added the account will still grow in a steady rate without exposing it to more risk.

However, it is trader's comfort level on their psychology and their account equity with that they can take all Xs.
  • #724
  • Jan 27, 2014 4:16am Jan 27, 2014 4:16am
Quoting Emmpoli
{quote} looking at the scaner, you can see many overbought and over sold signal, how do we trade such instrument knowing fully well that a reversal or counter trend could occur?
You need to read chart and go by the best odd. Following the fib points and present price are best for equities

Overbought

1. Price is above R3, immediate view of chart tells a consolidation : Sell for 30-45 mins (whichever expiry time your broker offers)
2. Price is between R1 and Pivot, immediate view of chart tells upward: Buy for 30-45 mins.
  • #725
  • Jan 27, 2014 4:20am Jan 27, 2014 4:20am
Just to add:

By watching the overbought/oversold level if you are doing contra entry, that is riskier than "with trend" entry

So, if you watch the chart with patience, you will get your entry point for sure.

Again, Market scanner is only a tool. How you read the market and find best method for your trading is always depends upon you.
  • #726
  • Jan 27, 2014 6:14am Jan 27, 2014 6:14am
Here is a clear equation of rescuing your equity with Risk Table, even you have win rate as worst as 50%. I am only drawing X1 and X2 levels here.

Attached Image (click to enlarge)
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Attached File(s)
File Type: zip Risk_Table.zip   14 KB | 394 downloads
  • #727
  • Jan 27, 2014 6:17am Jan 27, 2014 6:17am
Risk Table and Win Rate co-relation

First of all, you must have consistant win rate otherwise there is no point of discussing about Risk Table. However, it is mathematically proven fact that with win rate of only 50% using Risk Table will rescue your equity. Which is indeed an excellent tool for the account busters
  • #728
  • Jan 27, 2014 6:33am Jan 27, 2014 6:33am
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  • #729
  • Jan 27, 2014 7:00am Jan 27, 2014 7:00am
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  • #730
  • Jan 27, 2014 7:11am Jan 27, 2014 7:11am
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  • #731
  • Jan 27, 2014 7:30am Jan 27, 2014 7:30am


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  • #732
  • Jan 27, 2014 7:42am Jan 27, 2014 7:42am
Risk Table and WinRate Approach: Summary

Closing my day for today

Lets summarise my action for the day.

1. Started with a RnD trade to measure the Instrument strength as per Market Scanner.
1A. was winner for the first hour doing a contra trade, the entry point was near pivot. (proves Market Scanner oversold signals were correct)
1B. Lost in the second hour as main trend was "Sell" (proves Market Scanner was correct)

2. Now with a losing position my next action was to recover it.
2A. I took X2, followed my usual set up, took an with trend entry
2B. Won and made a little profit and balanced the equity again.

3. I have 2 hours time in US session, so utilized it searching for atleast one entry to make my day more profitable.
3A. I took a with trend entry but the entry was just around pivot, I'm lucky that it got closed in profit (Thats why I am always in favour of with trend entry)
3B. I took another with trend entry near Resistance, this time with X2, because the set up was juicy

Result: Closing the day with good profit
  • #733
  • Jan 27, 2014 9:03am Jan 27, 2014 9:03am
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  • #734
  • Jan 27, 2014 9:07am Jan 27, 2014 9:07am
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  • #735
  • Jan 27, 2014 9:22am Jan 27, 2014 9:22am
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  • #736
  • Jan 27, 2014 10:13am Jan 27, 2014 10:13am
Hello! To be honest, I don't take binary option seriously, it is more like a game. But, did you tried a simple game of probability, Place Put 30 sec. option, and in 5 sec. place call 30 sec. option. By doing this game with 5 dollar investment I make $50-60 in one hour.
Even though I walk through the darkest valley, I will fear no evil
  • #737
  • Jan 27, 2014 11:02am Jan 27, 2014 11:02am
To be more serious, it is nice approach, as long as your system have 75% win rate, you are rich.

I want to find a system with M5 time frame, with win rate at least 75%, and will place call or put every minute (60 sec. option) until price will rich my TP. I have tried it before, it works really well!

You are doing a great job!

Best regards
Even though I walk through the darkest valley, I will fear no evil
  • #738
  • Jan 27, 2014 11:06am Jan 27, 2014 11:06am
Quoting monocor
To be more serious, it is nice approach, as long as your system have 75% win rate, you are rich. I want to find a system with M5 time frame, with win rate at least 75%, and will place call or put every minute (60 sec. option) until price will rich my TP. I have tried it before, it works really well! You are doing a great job! Best regards
hi Mate, if i should understand you well, you are not sure of this your system
  • #739
  • Jan 27, 2014 11:19am Jan 27, 2014 11:19am
Quoting rekon67
Risk Table and WinRate Approach: Summary Closing my day for today Lets summarise my action for the day. 1. Started with a RnD trade to measure the Instrument strength as per Market Scanner. 1A. was winner for the first hour doing a contra trade, the entry point was near pivot. (proves Market Scanner oversold signals were correct) 1B. Lost in the second hour as main trend was "Sell" (proves Market Scanner was correct) 2. Now with a losing position my next action was to recover it. 2A. I took X2, followed my usual set up, took an with trend entry...
i'm begining toappreciate your risk table Bro, looking forward to more post from you
  • #740
  • Jan 27, 2014 12:21pm Jan 27, 2014 12:21pm
Quoting monocor
Hello! To be honest, I don't take binary option seriously, it is more like a game. But, did you tried a simple game of probability, Place Put 30 sec. option, and in 5 sec. place call 30 sec. option. By doing this game with 5 dollar investment I make $50-60 in one hour.
Sorry, I have not been rude to any one before. But you are very close of crossing the line. Here we are not playing a game of probability or playing ratatoullie.

You continue unnecessary post and I will ban you from posting anything.
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