Here you have some tips to make this Binary Options strategy work.
Before going with the steps you should follow, I write a small note regarding the video below and about this strategy.
The video is a recorded trading session without any edition (no cutting, no adding), just recorded and directly uploaded to youtube. I will agree that the sound is not great, sorry about that, we are not video producers. ;)
The strategy works best with the GBPJPY pair (EURJPY can also be used), I will tell you why below.
On this strategy, the idea is to catch the reversal of the current candle which is pretty high on this pair.
I also want to tell you that this strategy works pretty well if you are concentrated and after some time practicing.
It is also important to know the fact that this strategy can make you grow your account, but at the same time, this strategy is very stressful. But you must learn how to control yourself about the frequency you will use it.
And the ultimate note, always apply your Risk and Money management. This is a must.
As you can see in the video, at certains moments the candles of this pair move pretty fast and always make the same pattern or movements, up and down in a relatively faster manner (1 minute chart always). The goal of this strategy is take advantage of these moves.
Let's go straight to the points:
- You must have and use 2 screens (2 laptops, pc or however you perform your trades). You can not use this strategy on the same machine with 1 screen because this strategy needs light speed to press the BUY/SELL button at the precise moment you see the candle at the right position. I insist, if you use just 1 screen, then you are already in the wrong path and this strategy will not work.
- On one screen you will have your mt4, ninja, thinkorswim, ctrader or the Forex platform you usually use and on the second screen you will have your Binary Options platform.
- Place a Call/Buy position when the candle is at a level that you consider as the bottom (In our video you see that bottom area represented by the blue horizontal rectangle).
- Place a Put/Sell position when the candle is at a level that you consider as the top (dark-red horizontal rectangle on the video)
- Regarding the 2 previous points, those are not a rule, meaning that you can place Call o Put options even when the candles are not at Top or Bottom (Resistance or Support levels). In fact, the most important is the evolution of the candle. See the example below:
- The best moment to trade this strategy is just before and during the first 3 hours of the US SESSION, because it seams like on other moments this pair gets kind of slow (talking about candle moves). Remember, for this strategy to work, we need to have the candles moving kind of fast (up and down in a matter of seconds).
- Using 20, 30 or 60 seconds, all depends on how fast the candles are moving. With some practice you will understand when to use 20, 30 or 60 expires. Basically, if the candles are moving very fast, then use 20 and if they are moving kind of slow, then use 30 or 60. You must measure this and as I said, this will come with practice.
- Use a watch (clock), usually the Market Watch is the easiest way. (you can find that on any forex trading platform such mt4, ninja, thinkorswim, ctrader...). Of course you can also use your watch :)
So what for? - Well, one candle is 60 seconds, by looking at the ongoing seconds you will find yourself in a better position to decide when to place your Call or Put options.
- About the arrows you see on the video, today I would say that those are not necessary.
Ok those are the main points you should follow to operate this strategy.
Important note: I have shared this strategy with some people, some were traders, some were not. The fact is that this strategy works for some but it does not for others. I guess this happens because lack of practice, patience and concentration and of course, the capacity of learning.
Some questions you may ask:
- Do I make money with this strategy? - Yes I do!
- Is this strategy the only one I use? - Not at all! I use several strategies all developed by me and used in our trading panel to make money every day. This is just one strategy. (I will post more of them soon...)
- Is this strategy very easy? - No, I think this strategy is a good way to make your account grow, but it is not easy and requires discipline, patience and lot of concentration... and it is also very stressful. In fact, no strategy is easy. If someone tells you that a trading strategy is easy, be sure he/she is lying.
As I am a core capitalist, I can send you these custom indicators you see on the video (they are 6 or 7 indicators for mt4 only) for $39.00
As I said, I am a core capitalist, and for core capitalists even $0.1 cent is money ;)
If you have questions, please contact us, we will be glad to assist you.