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Rekon's Binary Option Trading with M15 Chart

  • #741
  • Jan 27, 2014 2:22pm Jan 27, 2014 2:22pm
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
  • #742
  • Jan 27, 2014 2:26pm Jan 27, 2014 2:26pm
Quoting Emmpoli
{quote} i'm begining toappreciate your risk table Bro, looking forward to more post from you
Hey, don't bother it for now, can you continue for one month maintaining 75% win rate for all trading days on an average? Risk Table comes after that. It has two advantages.

A. Rescuing your equity.
B. Exponentially growing your Equity.

But before that we need the consistent win rate.
  • #743
  • Jan 27, 2014 3:34pm Jan 27, 2014 3:34pm
Set up Instruction: Rekon Xs template for Spot and Binary with Market Scanner

Time Frame: Most of the binary brokers offers M30 expiry, so we will switch to M30, this will also filter out certain bad signals generated in M15.

Market Scanner Scan Result: Presently it can scan upto 27 forex instruments, 6 commodities, 1 futures, 4 indices and 71 Stocks. Ideally if we scan the market per one hour (in case you are doing it for full time) we should concentrate on maximum of 4 instruments for entries. Higher the number is a mess. So, on a particular hour your MT4 should load 4 charts or the maximum your system supports - but you should not have a slow terminal in any case.

Loading of Charts one Work Around: You can create multiple profiles with a set of 4 charts, based on the different Trading sessions you select your best pic and arrange it accordingly. This should work good.

Equity Chart: Binary.Com provides some charting for equity where you can place technicals, but for equity with expiry 30 Mins only the points mentioned in the Market Scanner should be good. Atleast I work that way only.
  • #744
  • Jan 27, 2014 3:43pm Jan 27, 2014 3:43pm
Timing your Trade

Specially for Binary, entering @ 7:59 GMT is not same as entering @ 8:00 GMT, remember volume increases or decreases in the last minute of every candle starting from M15 to H1. Ignore other time frames.
  • #745
  • Jan 27, 2014 3:57pm Jan 27, 2014 3:57pm
Quoting rekon67
{quote} Hey, don't bother it for now, can you continue for one month maintaining 75% win rate for all trading days on an average? Risk Table comes after that. It has two advantages. A. Rescuing your equity. B. Exponentially growing your Equity. But before that we need the consistent win rate.
will try, option could be so tricky
  • #746
  • Jan 27, 2014 5:33pm Jan 27, 2014 5:33pm
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...



Hi REKON!,

So, as I understand your explanations, according to your Risk Table rules, would it be right to use in 3B X1 again and not X2? ...Because 3A was a winner (profit). correct me if I´m wrong, please...

Thanks for your time and your help again!!

Fer
  • #747
  • Jan 27, 2014 8:47pm Jan 27, 2014 8:47pm
Quoting freedomfer
{quote} Hi REKON!, So, as I understand your explanations, according to your Risk Table rules, would it be right to use in 3B X1 again and not X2? ...Because 3A was a winner (profit). correct me if I´m wrong, please... Thanks for your time and your help again!! Fer
I will shortly provide a graphical illustration to explain it better. There are quite a few difference here with Rekon Xs Risk table and other exponential methods and martingale.

If you have noticed, we try to rescue a losing position first and with that we can quit the day in small profit as well.

In case we have higher success rate than 50 % and we have time, we perhaps look out for trade again, then we start with X1 again.

Now, if you closely look at the trades I posted,

I initiated X2 (2nd time) when my X1 (2nd time) was a loser!

But, X1 comes out as a winner, so the X2. Technically both were with trend entry.

So, further with X1, X2 as winner or X1, X2 either winner I can go for X3 if I have proper trading time (Active Market) and positive mind set and positive technical set up.

** Our primary intention here is to close as many of days in profit, even it is small. with that your win rate and confidence level will be higher. So we will be taking more risk on equity when we will have higher win rate and that will work as a magic to grow the equity exponentially!

But, if we lose 3 positions at a row we quit for the day without challanging ourselves further and save the equity for next day.

I know there is a lot to discuss. I will try and please feel free to participate
  • #748
  • Jan 27, 2014 9:00pm Jan 27, 2014 9:00pm
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  • #749
  • Jan 27, 2014 11:39pm Jan 27, 2014 11:39pm
*** Important Notice ***

We will be closing this thread on 31st Jan 2014 after Friday Market close. We will move to Trading Systems Forum and continue our journey with RekonXs and Market Scanner Application. I will notify you further update on this. Thank you.
  • #750
  • Jan 28, 2014 12:23am Jan 28, 2014 12:23am
Rekon Xs :: Risk Table Explained

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  • #751
  • Jan 28, 2014 12:48am Jan 28, 2014 12:48am
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  • #752
  • Jan 28, 2014 1:11am Jan 28, 2014 1:11am
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  • #753
  • Jan 28, 2014 1:39am Jan 28, 2014 1:39am


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  • #754
  • Jan 28, 2014 1:44am Jan 28, 2014 1:44am
Post 753 : Trade Summary

Time : 6:50 GMT (Good volume starts from 7 GMT onwards)

Expiry: 40 Mins

Set Up: Oversold Market, Price was too low from the support 3.

Concept: With good volume and Market pick hour Price tends to come back to pivot.

Result: Won!
  • #755
  • Jan 28, 2014 2:03am Jan 28, 2014 2:03am
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  • #756
  • Jan 28, 2014 2:25am Jan 28, 2014 2:25am
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  • #757
  • Jan 28, 2014 2:54am Jan 28, 2014 2:54am
Can I ask you , why did you choose binary ?
R:R is 1:0,8 . You need 2 trades in + to cover loss.

And one more question, is there a way to back test the system with binary ?
Even though I walk through the darkest valley, I will fear no evil
  • #758
  • Jan 28, 2014 3:05am Jan 28, 2014 3:05am
Quoting monocor
Can I ask you , why did you choose binary ? R:R is 1:0,8 . You need 2 trades in + to cover loss. And one more question, is there a way to back test the system with binary ?
You are not following the thread carefully. There is a Risk Table to rescue a bad trade and there is a wonderful system to trade binary.

For back testing you need to use RekonX template on a strategy tester. But I am not sure of sending the files to you.
  • #759
  • Jan 28, 2014 6:00am Jan 28, 2014 6:00am
Quoting rekon67
*** Important Notice *** We will be closing this thread on 31st Jan 2014 after Friday Market close. We will move to Trading Systems Forum and continue our journey with RekonXs and Market Scanner Application. I will notify you further update on this. Thank you.
was nice being a part of this.Thanks Bro
  • #760
  • Jan 28, 2014 6:34am Jan 28, 2014 6:34am
Quoting Emmpoli
{quote} was nice being a part of this.Thanks Bro
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