₦airaland Forum

Busy day today.. Didn't have enough time to trade

Today's result was 1:1

Let's see what the market holds for us tomorrow.

The idea behind trade1. Is the same thing I have be doing except that the price action was confine in a range in my box (the bullish candle hit 21ema created a reversal and I followed the momentum.

Trade2 was a similar trade but the momentum faded quickly and it resulted in a loss.

optimistic1234:
Where and how do I get the basics please

Babypips.com is a good place to start

2nd trade.

Price printed an exhaustion candle (the big bullish candle that ran out of steam) and created a reversal pattern ( the 1st green arrow was my call to action but I was distracted by.......). Came back and watched break down with a slow pace, watched how it broke the low of the big head candle.

Went for a 3min fall

Won!

Not the best trade as the move that won was after a better move. Call this one riding the momentum after a reversal.

Shop open today.

Opened platform and saw price trending upward and I was expecting a reversal on my green horizontal line. Price got there stall a little and decided to break my line. Went for a 3mins rise.

Loss!!

Price was pushed back by something on the left, and the big red candle with wick made sure I did not collect the money (wicked candle stick)

Result

WON!

2nd trade..

Price was trending down, created a U-turn cup-like reversal pattern but was quickly reversed with a bear bar with sweet wick (indicating strength).

Price continued downward and I was watching in the woods.

Finally we had a bullish candle (what I was waiting for). But no follow through instead we had a small bear candle and a continuation candle BAM.

I went for a 3mins fall.

Result

WON!!!



Price is not really moving the way I like it. Monday is not usually this fast.

I will stay on the side line until price plays my music then I will come out to dance.

Happy trading guys

1st trade.

Price was pushed up with two strong bullish candles and the a weak bullish candle that tested both of its extremely suggesting indecision. What we got next was a pin bar and then a continuation candle stick.

Went for a 3mins fall

odimbannamdi:
So much wisdom packed i n such short post.

True, being profitable in Binary Options in the long run comes with a lot of sacrifice and painstaking long moments staring at the charts and understanding the next move of an emerging candle. To be a seasoned trader and have sufficient confidence, one has to pay those dues to the latter. I will always encourage newbies to do so. I have been in this game since August 2014, and i just began trading profitably this year.

Deep understanding of the price movement is also key because it will help one develop and enhance a strategy to suit one's preference. My present strategy was introduced by Stmichael001, but over the years, i have enhanced it in my own personal way, created my own rules and learning libraries, suiting it to my trading style.

In the end, what matters is to be CONSISTENTLY profitable. I am in for the long haul. I envision myself still being in trading in the 10 years (if Jesus tarries and God keeps us alive) and if that will happen, i need to start being profitable now.

I will look through your strategy this week. I am glad that this thread is coming back to life gradually. That is exactly what i was trying to achieve all along.

Weldone bro

At the end of the day its all about finding yourself and your trading style. What works for you.

Now is good time for most folks to get their fingers wet in the treacherous waters of trading and trading psychology, not with the intent of becoming an overnight millionaire but to put in the required effort and time to really learn this thing.

I see most people are bored and giving Ludo, Draft and Whot their valuable time. This same time that can be put into something that help build mental, financial and spiritual equity that will pay off big time.

Some are just going on break after so many years of constant work which has created a lifestyle and thought process that may lead you to an unfavorable destination. You have the opportunity to remove the led that got you in box (office, work and lifestyle) especially if you don't that like it.

Learn something with this Lock Down and come out a better human (wiser, stronger and better)

I know trading is not for everyone but if this is what you want to do. Go back to the beginning of the thread, read other season, read on Google and practice like hell and then ask questions where you feel confused (which is most of the time)

I will do my best to answer them...

To your success.

See you guys tomorrow..
Shalom.

I trade only EU on 1mins timeframe as this give me ample time to focus on every details price is printing on chart.

My aim is a maximum of three trades per day all depending on what the market gives.

My entry duration is 3mins on breakout, momentum and reversal trades.

Disadvantages

# 1mins chart is too fast and it requires a high degree of chart reading skills

# alert cannot be taken based on the speed of the tf

# mimicking this will take a lot of study time. period!

Advantages

# All future charts will come with thought process on why trade was taken so a learning curve can begin.

# Most days I spent less that 3hours and my target is met as spending longer period on chart especially in a ranging market bores me.

# Pay out are usually between 85% to 100%

high pay out ratio as you will see below.

More and more

More trades

More recent trades

Result

A trade I took last week Friday with my thought process inclusive.

I commend your selfless work here @odimbannamdi. Good job bro

The problem with binary is not that binary don't work but it is pretty difficult to make it work as it requires enormous effort and time with the consciousness to adjust some fundamental human belief which is damn difficult.

And if you think you can just read through this thread while sipping a bottle coke on a weekend and it all seem to be clicking in your head.. Next you fund your binary account and you want to mirror @odimbannamdi my dear you are in for a long learning curve.

You can try and follow all the rules of a strategy and make money with it but what I have come to realize is if you don't find your own strategy I mean your own way of responding to the market. You might still make money but you will never be a full fledge trader until you find your sweet spot in the market.


Note: there are no hard rule in the market, just what works for you and what doesn't. To put it better, what you have spent time with and what you have not.


I will be sharing trade ideas using pure price action, I consider myself a breakout and momentum trader.

Have a nice one

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