For traders who traded the GBP/USD on conventional trading, we suggest to close the trade now. It is at around 60pips already. Market may likely reverse as the US market is nearing to start
We have received enquiries from a good number of traders asking why we give only signals for binary options. We can confirm that as from tonight 00hours UK time, we will start giving you signals for conventional trading and we may move our binary option traders to another room entirely.
It means, we will be able to give you ENTRY POINT, STOP LOSS and TAKE PROFIT points.
All signals given as from now will have the SL based on the positions we can see on our chart analysis. Again, all signals from now are for all types of FX traders
To try our signal for 30 days free, join our whatsapp trading group by sending the message in quote below to request connection. "Please, connect me to the trading group. My name is (please, insert your name) from (please, insert your country)"
And then, we will add you to the group for 30 days free. Our Whatsapp number is +353-89-4362111.
We have only 2 positions running now. The GBP/JPY and the EUR/AUD. We are watching the market. Everybody seems to be waiting on the Fed meeting. If we get some profits on these two positions, we will also close out and wait to see which direction the market is taking.
To try our signal for 30 days free, join our whatsapp trading group by sending the message in quote below to request connection. "Please, connect me to the trading group. My name is (please, insert your name) from (please, insert your country)"
And then, we will add you to the group for 30 days free. Our Whatsapp number is +353-89-4362111.
Great to have you comment. Nice question. BO trading is safer in our view. Let me illustrate with an example and hopefully, it becomes clearer. If I have $1000 and I place a trade on GBP/USD using conventional method, I will have to place a stop loss of say, 100 pips depending on my understanding of where the SL should be. If my stake is $1, that is a potential loss of $100 if my SL is hit. On the other hand, if I decide to place a tighter SL (remember broker still has its own spread) of say 20 pips, that is a potential loss of $20. The probability of the SL being hit is greater in one than the other for sure. Ok. Let's look at profit. If I profit and the market moves in my favour and go to as much as 100 pips, I have made $100 - Lucky me. Remember that many traders too don't even know what they are doing when it comes to the right knowledge and that is why they say only 5% make it in this market.
Now, let's go binary. If I place a CALL binary option on the GBP/USD from my entry point with a stake of $10, and if the market goes in my favour at the expiry of that option, I should have a payout of around 90% of my $10. Otherwise, I lose my $10. I don't even have to be in the market and looking at the screen forever because I know that I cannot lose more than $10. And also, if for whatever reason, I decide to watch the market once in a while, and see that the sentiment in the market has actually changed and that trade will not likely go in my favour again, I can actually sell the option and cut my loss. May be I will go home with a payout of $5.
Most of the time, if you can get the entry point right whether it is a reversal point or continuation of a trend, binary options usually pay off more than conventional trading.
However, we have decided yesterday that we will continue to give signals for conventional trading where we will give the suggested SL too. And traders who trade the Binary options can key into that also. As far as we know, Binary Option trading may not be allowed by law in some jurisdictions. But it is allowed in the UK and also Australia and may be some other few places like Cyprus. As for the USA, it seems, it is not allowed. We stand to be corrected.
And from our experience since we have started giving out the signals yesterday, it seems many traders don't even understand what it is. On this note, we feel we should simply give traders what they are familiar with and anybody that is interested in Binary Trading can then get more info over the internet and learn.
Please, note that these are our own views on this and does not constitute an advice expressly or by implication.
As far as I can see Binary is still harder because not only do you have to be right with direction but you also have to be right with how long it will take to hit target
Sorry IamFx. Binary Option Trading are in various categories. There is no target to hit here at all. It is either UP or DOWN from your entry point. If I place a CALL option trade on GBP/USD at 1.4000 and at 8am in the morning and the options expires at 10pm in the evening. If at expiration, GBP/USD is 1.4001, I have won, but, if it is 1.3999, I have lost. You can check this out with the following brokers and it will help you further to understand it:
1. HighLow.net in Australia
2. ETX in the UK
3. AnyOption in Cyprus.
Please note that we do not have any relationship with any of these brokers, but, if you check their platforms out, it will help you understand the dynamics. You only have to be right in the direction when it is a UP/DOWN or HIGH/LOW binary and do not really care about hitting any target and how much of the movement because it really does not matter. I hope this is clearer now.
To try our signal for 30 days free, join our whatsapp trading group by sending the message in quote below to request connection. "Please, connect me to the trading group. My name is (please, insert your name) from (please, insert your country)"
And then, we will add you to the group for 30 days free. Our Whatsapp number is +353-89-4362111.
