New Idea With Option Trading

Discussion in 'General Forex Discussion' started by ezrydn, Jan 6, 2013.

  1. ezrydn

    ezrydn Active Trader

    513
    7
    32
    I'm kicking an idea around and wanted to share it. This is aimed at those here with Binary experience.

    I've been thinking of a good Binary MT4 display. It would consist of three windows Let's pick EURUSD. The first window uses a free 60-Second template I found on the FIB forum. Sorry, not allowed to supply link, TOS. I set it up on 1M TF.

    Second window is candled, same pair, 5M TF. Third window is same pair at 15M TF. Display all vertical. Change candle colors to all red/all green and lose the grid. This way, you know what color you're dealing with.

    The "why." The 1M template will alert me to a "run" in one direction to use in 60-Sec. trades. The 2nd-3rd charts would show ongoing action on the trade as it progresses and would allow you to partially salvage a Binary that turns against you.

    Thoughts?
     
    Last edited: Jan 6, 2013
  2. ezrydn

    ezrydn Active Trader

    513
    7
    32
    So far, just this morning, this setup works! Ten trades total, 8 wins, 1 loss and one breakeven for a little over $600 profit. As I'd get OB alerts, I'd check the chart tab, make a generic decision, load all 3 windows with the pair and wait to pull the trigger. I also popped for "Binary Cash Bot" and added the indicator to the 5M & 15M TFs. Good verifiers.

    Skipper's raising hell so he wants to get out and go have his coffee. He's sure pushy for a little Cockatoo. I'll hit it again when we get back.
     
  3. ezrydn

    ezrydn Active Trader

    513
    7
    32
    I had an "A-HA" moment this morning. I haven't seen it written anywhere and hadn't realized what I was doing. Here's the jest of it. I was working Option Bot's alerts. I suddenly realized I was expecting two pair with the same base currency to head in different directions. Now, we've all seen it happen but the general rule seems to be don't split directions when using same base currency. When I realized what was happening, I stopped doing it and my loss rate declined. One would always end up in the tank.

    It's something we think is taken for granted but evidently not. Just one more thing to be aware of. Hope it helps.
     
  4. ezrydn

    ezrydn Active Trader

    513
    7
    32
    Those of you that run Option Bot, a question. Have you tried it on 60 Second trading? If you're like me, you've only used it for standard 15M/30M Binary trades. Today, I decided to give OB a try with 60 Sec.

    FIRST, set OBs "Timeframe" to "1M." You'll get a lot of alerts that aren't covered by your broker. Focus on ONE currency! Don't chase! EURUSD always carries high return potential and isn't as volatile as the others.

    It's been a good morning and I'm looking forward to using Option Bot in this fashion in the future.
     
  5. TheLastBear

    TheLastBear Banned

    192
    0
    0
    Hi, I do trade binary options but dont use option bot. In general I try to stay away from 60 second options and prefer the 15/30 min ones.
     
  6. ezrydn

    ezrydn Active Trader

    513
    7
    32
    OBs giving good alerts on 60 Second trades. This is where OBs multiple broker windows shine! Can't wait for the new Mar/Apr update release.
     
  7. brokenblade

    brokenblade Trader

    7
    0
    12
    I'm looking to start trading binary options myself. So far I am seeing success with my Forex trading activities, but that could easily change if I don't stay on top of my game.
     
  8. ezrydn

    ezrydn Active Trader

    513
    7
    32
    The setup I mentioned above is working great on 60 Second trading. I've been on it since yesterday and it's producing profit. 60 Sec is a sly creature, to be sure. But there IS a way to gain the upper hand. I focus on 3 elements: Price Action, Candle Birth and Time Remaining.

    Price = Is it trending? Is it in a run?
    Candle = Practically all candles form as a Bull. Wait for gender change or stability.
    Time = At 30 sec to go, I'll wait for next candle.

    Following that concept seems to be working well for me.
     
  9. TheLastBear

    TheLastBear Banned

    192
    0
    0
    I am glad that it works for you. I currently stick to my 30 min and it is working well for me.
     
  10. Jacqui Abbott

    Jacqui Abbott Trader

    2
    0
    12
    thanks!

    Thanks for the great info......

    I really appreciate of your contribution, it really helps to all who are in forex trading.

    cheers!
     
  11. ezrydn

    ezrydn Active Trader

    513
    7
    32
    Bear,

    If it's working, stick with it!

    Jacqui,

    When I stumble across something that works for me, I take it for granted it'll work for you and I share it. I'm glad you're gleaning beneficial info from it. Stick to it.

    And, to All,

    Option Bot had some problems with fraudulent emails so the have restricted their support to only handling tickets received via http://www.optionbot.net/support/ . They've responded within 24 hrs the several times I've needed answers.
     
    Last edited: Jan 17, 2013
  12. abir_r2r

    abir_r2r Banned

    16
    0
    0
    Appears contemplating a superb Binary MT4 present. It'd include things like several microsoft windows We should opt for EURUSD. The primary windows relies on a cost-free 60-Second design When i on the FIB community. I am sorry, banned to offer web page link, TOS. When i work it with 1M TF.

    Minute windows is usually candled, similar set of two, 5M TF. Finally windows is usually similar set of two on 15M TF. Present many directory. Transform luminous made of wax colorings to every one red/all environment friendly in addition to eliminate this grid. That way, do you know what coloration you will be handling.
     
  13. ezrydn

    ezrydn Active Trader

    513
    7
    32
    Possibly, if I had a clue as to what you're talking about.
     

Share This Page