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  • #1,761
  • Oct 8, 2015 2:41am Oct 8, 2015 2:41am
DAX. +31 and +55
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  • #1,762
  • Oct 8, 2015 12:15pm Oct 8, 2015 12:15pm
Hi srmfx,

Really enjoyed reading your posts. Would you mind helping me understand binary options? I've done some reading but don't fully grasp why you choose BO over Spot forex.

Again ... Really enjoying what you're doing here and hopefully I will be able to learn from you.
  • #1,763
  • Oct 9, 2015 4:47am Oct 9, 2015 4:47am
Long Dax, +25 pts first half,stop moved + 29
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  • #1,764
  • Oct 9, 2015 6:47am Oct 9, 2015 6:47am
Second part closed + 71
  • #1,765
  • Oct 9, 2015 8:18am Oct 9, 2015 8:18am
Quoting L33
Hi srmfx, Really enjoyed reading your posts. Would you mind helping me understand binary options? I've done some reading but don't fully grasp why you choose BO over Spot forex. Again ... Really enjoying what you're doing here and hopefully I will be able to learn from you.
I trade the same set ups with binary options. The idea is to take advantage of pending orders around support and resistance levels. With 1-minute binary options I can profit when the price just stays below or above the strike price. If I trade spot the price have to move in my direction.
  • #1,766
  • Oct 9, 2015 8:58am Oct 9, 2015 8:58am
Quote
I trade the same set ups with binary options. The idea is to take advantage of pending orders around support and resistance levels. With 1-minute binary options I can profit when the price just stays below or above the strike price. If I trade spot the price have to move in my direction.

Thanks! I've downloaded a demo for Binary Options. It's my first experience and it's very interesting.

Do you still also trade spot Forex for the STE entries?
  • #1,767
  • Oct 9, 2015 10:08am Oct 9, 2015 10:08am
Quoting L33
{quote} Thanks! I've downloaded a demo for Binary Options. It's my first experience and it's very interesting. Do you still also trade spot Forex for the STE entries?
Yes.
  • #1,768
  • Oct 9, 2015 10:22am Oct 9, 2015 10:22am
Binary put at previous high. The long upper shadow of the candle suggests that offers are waiting around that resistance.
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  • #1,769
  • Oct 10, 2015 5:40am Oct 10, 2015 5:40am
Quote
Binary put at previous high. The long upper shadow of the candle suggests that offers are waiting around that resistance.

I'm assuming you're using simple high/low binary options? Also do you always use the same time option 60 secs?

I have scanned through How to master Forex Options 101 and it states in there that risk/reward can be as much as 1:10. I'm presuming this is using options such as Ladders or One Touch?

Do you trade exclusively 60 second high/low?
  • #1,770
  • Oct 10, 2015 8:33am Oct 10, 2015 8:33am
Quoting L33
{quote} I'm assuming you're using simple high/low binary options? Also do you always use the same time option 60 secs? I have scanned through How to master Forex Options 101 and it states in there that risk/reward can be as much as 1:10. I'm presuming this is using options such as Ladders or One Touch? Do you trade exclusively 60 second high/low?
Yes, I use simple high/low (up/down) options. The brokers changed the rules and the ladders and OT options can be traded with much lower risk/reward that sometimes is ridiculous. With one minute binaries my risk/reward is 4/5 which means that I have to win in at least 56% of the cases. This makes trading a little more difficult, but with a strict discipline it is not impossible. Two or tree good trades per day let you make nice profit. My trading style is order flow based and I just had to add some filters - stronger support/resistance levels, timing of entries, correlation, etc.
  • #1,771
  • Oct 12, 2015 3:33am Oct 12, 2015 3:33am
200 EMA
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  • #1,772
  • Oct 14, 2015 2:24am Oct 14, 2015 2:24am
Sort Dax,stop 11 pts,first half closed + 21,stop at BE now
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  • #1,773
  • Oct 14, 2015 2:55am Oct 14, 2015 2:55am
I've missed the short entries. Long at round number. Initial stop 14 pts. 1st half closed for 16 pts profit. Stop at -1.
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  • #1,774
  • Oct 14, 2015 3:09am Oct 14, 2015 3:09am
Quoting srmfx
I've missed the short entries. Long at round number. Initial stop 14 pts. 1st half closed for 16 pts profit. Stop at -1. {image}
I closed second part there but didnt dare to reverse
  • #1,775
  • Oct 14, 2015 3:12am Oct 14, 2015 3:12am
Quoting stoqn4444
{quote} I closed second part there but didnt dare to reverse
9900 was e good support level on 1H chart. Stop at +30. This is the road map
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  • #1,776
  • Oct 14, 2015 3:13am Oct 14, 2015 3:13am
Meanwhile, a binary call at 200 EMA
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  • #1,777
  • Oct 15, 2015 2:08am Oct 15, 2015 2:08am
Short Dax,stop 15,first half closed +19 ,atop moved -8 pts
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  • #1,778
  • Oct 15, 2015 2:45am Oct 15, 2015 2:45am
Initial stop 14 pts. 1/2 at +16 pts. Stop at +3
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  • #1,779
  • Oct 15, 2015 3:22am Oct 15, 2015 3:22am
200 EMA
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  • #1,780
  • Oct 15, 2015 3:51am Oct 15, 2015 3:51am
Limit order filled at 10038 for 76 pts profit
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