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The Slow Double Method to BIG gains

  • #21
  • Feb 10, 2015 6:42am Feb 10, 2015 6:42am
Not looking good right now. Have to roll with the punches.
  • #22
  • Feb 10, 2015 8:01am Feb 10, 2015 8:01am
Well that crashed an burned. I did have a brief chance to get out with a small profit but I let it run and it backfired. Well, on to the next trade. Done for the day.
  • #23
  • Feb 10, 2015 9:07am Feb 10, 2015 9:07am
Still sideline and waiting for a new opportunity for the second round. There is no strong setups anywhere. Only cheap and risky ones
COT: The precious data ignored
  • #24
  • Feb 10, 2015 6:45pm Feb 10, 2015 6:45pm
In another trade. audusd must be under 7760 by 3 pm eastern and I get $80. risked 34. Trade is looking good right now. If it goes down far enough fast enough my TP may be hit before then.

Set and forget. Will check in the morning
  • #25
  • Feb 11, 2015 3:45am Feb 11, 2015 3:45am
Woke up to profit hit. I'l take that.

Balance $82
  • #26
  • Feb 11, 2015 4:37am Feb 11, 2015 4:37am
Congrats!
Nice to see your progress on this thread, keep it up!
Maybe it's good to tell at wich step you are at the moment.
Persistence will get it. Consistency will keep it.
  • #27
  • Feb 11, 2015 7:52am Feb 11, 2015 7:52am
Way to go buddy, keep working at it. you give us the inspiration to try it too. Personally as soon as time allows, i am going to give it another go
  • #28
  • Feb 11, 2015 9:29am Feb 11, 2015 9:29am
Thanks guys. As you can see, this is a very up and down process sometimes. Right now at $82 we will see how many times if any it can be compounded. All depends on the trade opportunities.
  • #29
  • Feb 11, 2015 11:04am Feb 11, 2015 11:04am
yes you are right
  • #30
  • Feb 11, 2015 2:34pm Feb 11, 2015 2:34pm
Looking at audusd again looks nice. Going to stay out however. BUT for trades sake I will still post how I think it will play out.

On my demo account (I no longer trade spot) I have an open trade Buy .7725 SL .7690 with TP .7755

ALSO a pending order SELL audusd .7765 SL.7805 and TP .7700

Looks nice to me but I have seen that when I trade right after a win I don't make as sound decisions. So I will watch this move and my charts and wait for a more solid play instead of jumping on any and every play.
  • #31
  • Feb 11, 2015 2:36pm Feb 11, 2015 2:36pm
For the record, one last time. I no longer trade spot ESPECIALLY after the usdchf fiasco. I avoided that but was thoroughly spooked. I will stick with binaries only. I keep my demo fx spot account for charts and to record my efficiency in trades.


Below is my Myfxbook for anyone who cares to see how average I am haha. Keep in mind these trades are in line with my binary trades and not real spot trades.

https://www.myfxbook.com/portfolio/s...demand/1040779
  • #32
  • Feb 11, 2015 3:23pm Feb 11, 2015 3:23pm
Saw too nice a trade to pass up. If usdjpy gets below 120 before 8pm eastern then I will get back $120

I risked $29 so net profit would be $91. Pretty good RR.

Current balance after open trade $53
  • #33
  • Feb 11, 2015 3:48pm Feb 11, 2015 3:48pm
Additional trade. If usdjpy is under 10.08 by 8pm eastern then I will get $70. Risked $17.

Current balance $35.

Hopefully 8pm will be a good time for me lol
  • #34
  • Feb 11, 2015 6:35pm Feb 11, 2015 6:35pm
Ouch. Nothing like watching price hit your strike right after your option expires. So me being the aggressive trader that I am. Took another trade with the remaining $35 because the trade idea was still valid and a good option was available.

Needless to say if it does not hit 119.93 by 10pm (not likely at this time) then I am down to balance of 9 cents . That's how it goes sometimes. IF by miracle price reverses I can get as much as $200 but right now I would TP at $140 if I could (Not likely) So I will sit tight til next week and start all over again with a fresh $100.
  • #35
  • Feb 11, 2015 11:52pm Feb 11, 2015 11:52pm
hello Trendzalore and good to see your separate thread extracted from R2Riches idea.

I just trade GU and EJ pairs and planning to implement R2Riches MM technique.

Problem is, I place a good entry but getting to 1:2 --Risk :Reward is where I get failed. Like yesterday I went long GU at 1.5258 with stop loss1.5230 and TP 1.5314. then it never broke 1.53 and my SL at BE hit.... now here you mentioned about trading binary .. like if yesterday I had set 1.5295 to touches to get payout that is almost double the amount i am risking? I think it is a good Idea to try this binary option in currencies to implement this technique...

What can you say about this.and which binary option broker will you suggest me..

Best Regards
Skat
  • #36
  • Feb 12, 2015 2:58am Feb 12, 2015 2:58am
Quoting Skat
hello Trendzalore and good to see your separate thread extracted from R2Riches idea. I just trade GU and EJ pairs and planning to implement R2Riches MM technique. Problem is, I place a good entry but getting to 1:2 --Risk :Reward is where I get failed. Like yesterday I went long GU at 1.5258 with stop loss1.5230 and TP 1.5314. then it never broke 1.53 and my SL at BE hit.... now here you mentioned about trading binary .. like if yesterday I had set 1.5295 to touches to get payout that is almost double the amount i am risking? I think it is a good...
I am in the U.S. and Nadex is the only binary company I would use. They are legit and I have never had any issues with getting my money. Not even once.

The MM strategy is perfect for binary. The one major drawback with binary is that you can be correct about a move and still lose if the move doesn't not happen in the timeframe you choose. Sometimes it happens literally right after your option expires. But to me the risk are worth it vs doing spot. Start out with small amounts. A good trader doesn't need more than $200 to build up a good account with binaries.
  • #37
  • Feb 12, 2015 3:24am Feb 12, 2015 3:24am
Quoting Trendzalore
{quote} I am in the U.S. and Nadex is the only binary company I would use. They are legit and I have never had any issues with getting my money. Not even once. The MM strategy is perfect for binary. The one major drawback with binary is that you can be correct about a move and still lose if the move doesn't not happen in the timeframe you choose. Sometimes it happens literally right after your option expires. But to me the risk are worth it vs doing spot. Start out with small amounts. A good trader doesn't need more than $200 to build up...
That's right. Both spot and binary have some drawbacks but as you mentioned binary can be better for this MM strategy.Have to work on demo for some time.. I will share my results in this thread.
GL all...
  • #38
  • Feb 12, 2015 6:57am Feb 12, 2015 6:57am
Quoting Skat
{quote} That's right. Both spot and binary have some drawbacks but as you mentioned binary can be better for this MM strategy.Have to work on demo for some time.. I will share my results in this thread. GL all...
Yes, demo first of course. Binary is no brainer for this type of MM. Success to you
  • #39
  • Feb 12, 2015 7:00am Feb 12, 2015 7:00am
I think i will stick to the daily strikes for this MM strat. I dont like being right in direction but wrong with the time. The daily seems to give me more success even if the strikes arent as nice. Really for this strat all that is needed is 1 for 1 rr.
  • #40
  • Feb 12, 2015 9:56pm Feb 12, 2015 9:56pm
Quoting Trendzalore
{quote} Yes, demo first of course. Binary is no brainer for this type of MM. Success to you
Thank You TZ,

I was just exploring about binary options brokers, I find binary.com and doing some research on them, they look reasonable and are regulated,User friendly but support is just fine..
If you or anyone in this thread know about this broker kindly share his/her views.

GL all..
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