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  1. #1
    Legendry Member Michael Hodges's Avatar

    Hot The NADEX Thread !!!

    This thread is dedicated to NADEX, the North American Derivatives Exchange. NADEX is the only source of regulated binary options in the US and the only one "legal" for US traders to use. This thread is for sharing thoughts on NADEX and its inner workings. Things you like, things you don't like, strategies you are using and tips for traders.

    I like it, it took me a while to really get a grip on it but I really like it. The options are tradable, you can buy and sell at will, so you can make profits on really short term moves... they are also binary, you can hold them to expiration for max payout. If you buy at a good price returns can be in excess of 100%, often more, which totally blows away anything offered by an offshore broker.

    Best thing though? They are regulated binary options for US traders! There is no worry of getting shut out, the platform works smoothly, there are no conflicts of interest and your money is 100% safe. I can happily say that they are a trusted broker for BOTS and a the top recommendation for US traders.

    Good News US Based Traders - NADEX Approved!
    Last edited by Michael Hodges; 01-27-2016 at 03:25 PM.

  2. #2
    Solid Member uaktags's Avatar
    I wish I could say that this was all a beta of things to come with Nadex, but really I don't know what more to expect that they'd give. Some gripes I have are their weekly are all set for really 3-4days out rather than a week. I don't believe I've seen any option to trade for long periods of times. The use of the Order prices having a ceiling and floor means that there's no reason for a short term stretegy of anything less than (imho) an hour. Their BullSpreads are great for moving assets, but they are NOT One Touch or Boundary which has earned me a nice amount of change when the moons line up and everything just appears to be giving that nice strong signal.

    But then again, I feel like my money is safer here. In more ways then just the "they're licensed...regulated...not gambling but kinda is". Instead, I feel like there's almost a cheat of a way to always get your money back. One that seems too simple that must be in error. There always seems to be a winning order that's so far away from toppling over that it's too good to be true. The only thing you'd have to worry is about adverse bullish/bearish movements (like todays Crude Oil spikes...bad signals all around that one). You literly could find these gems that risk 60-70$ for a profit of 30-40$ and expiry is in a reasonable hour and a half away before the market starts attacking it. It's been an almost guaranteed way for me to win back any of my previous losses, but at the expense that I take out more orders in this "winning" gem, it could become loss if all goes to hell. Again what is that though? Gambling...not trading. So to each their own.

    Otherwise, I like the trading process. I wish I could sometimes jump in on some short term 5min Calls. But there's so many contracts to choose from, it's easy to find a market. I trade with my beloveds (after today reaffirms that I'm sticking with my guys and not leaving)
    Their charts are pretty simplistic but yet feature full all in one. I get the information I need in plenty of time and with satisfied results.

    I will state that the mobile version and sometimes the desktop will sometimes convert from charting the Underlying asset's ticks...and instead the Price of the Contract itself which is a mess of confusion sometimes, those charts are HORRENDOUS with movement.

  3. #3
    Administrator Martin Kay's Avatar
    so, anyone else here trading Nadex?
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  4. #4
    Legendry Member Michael Hodges's Avatar
    I do some and it's like he says. There are some real drawbacks to trading, expiry isn't real long, picking strikes can be a challenge and the charts are fairly useless in my opinion.

  5. #5
    Solid Member uaktags's Avatar
    Oh yea, there's alot to be desired for the charts. But I'll admit, I use the charts a bit, I just hate their mobile charts on their app. They convert from the Asset Price to the contract's Market price. So you'll see the chart going, but you can't see how the numbers actually stand on the asset.

    A few cons, not to bash it, but a few cons are:
    -Doesn't tell you when the market will be available again. They go down for maintenance at 5-6pm (or 7-8? im not really sure which). When they do, there's no trading to be done for that hour. There's no indication of when the markets will be back (countdown, display of time, etc) there's just a red X on it.
    -Holding the contract equals a 6$ difference over the highest Stop Loss/Take Profit you can get. Once your position has tries +94 or -94$, you cant touch the contract. You either need to wait til Expiry for Max Profit/Loss or wait until the market moves in opposite direction for it to become tradable again. That really doesn't matter if you have a few mins to an hour left, but if you still have a day left. You're locked if you are a clear winner or loser after this threshold.
    -The UI is definitely intimidating to say the least. It takes time to learn and not the clearest system to understand.
    -There's no external support as of yet. No way to track a certain asset's contracts since Nadex is so different.
    -You're working with/against a pre-defined Contract value, rather than where the market is now. You're not saying the market will go Up or Down from HERE at THIS current time, but a predefined value.


    But again, for what it's worth, it's not a bad way of trading. I do find myself to be more in control of my money, I feel like i'm protected a bit more from a suspectful practice, and once you understand the system and adapt your strategy, it really is a solid platform, just not an appealing looking one. I just wish there was a more open way for outside developers to make the experience more pleasant. CT will never be able to translate Nadex contracts without a constant connection to know what contracts are available.

  6. #6
    Legendry Member Michael Hodges's Avatar
    The UI was the hardest thing for me to get over, I only trade in the mornings usually so I haven't noticed the closing times thing. Trying to figure out the expiry and strike is pretty confusing and still gets me if I'm not careful.

  7. #7
    Solid Member uaktags's Avatar
    Yea, being careful is a must. I've closed a few orders on accident when not realizing something. For instance, as I claimed before, you CANT set a Stop Loss order but you can set up a Take Profit order for a future amount. Night times actually feels the most profitable for me when trading Nadex for lasting trends that will be less likely to volatile spikes, whereas I find normal BO brokers better for strategies that incorporate spikes from an active market.

    The expiry and their associated spikes, I haven't quite figured out. My biggest question is where do these contracts come from. They'll most clearly formulated and not random (">1902.70", "1902.90", "1903.10"...but then another asset "1.1225", "1.1250", "1.1275").
    Expiries:
    Forex Daily = 3am, 7am, 11am, 3pm, 11pm
    Forex Weekly = 3pm
    Indices Daily varies by it's Native Country (US = 4:15pm, Japan=2:15)
    Indices Weekly varies by it's Native Country
    They all hold contracts that come in different hours timeframes (8pm-10pm being a contract)

    It can really be confusing, but once you stick to the same trading schedule (I normally do my trading at around 9pm-11pm and occassionally around 10am-1pm) you'll find roughly the same Expiry contracts. It's again, I don't know how they decide their strikes, so you can't really devise a plan of action until the contracts are posted to see if your believed entry is in range of the posted contracts.

  8. #8
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by uaktags View Post
    Yea, being careful is a must. I've closed a few orders on accident when not realizing something. For instance, as I claimed before, you CANT set a Stop Loss order but you can set up a Take Profit order for a future amount. Night times actually feels the most profitable for me when trading Nadex for lasting trends that will be less likely to volatile spikes, whereas I find normal BO brokers better for strategies that incorporate spikes from an active market.

    The expiry and their associated spikes, I haven't quite figured out. My biggest question is where do these contracts come from. They'll most clearly formulated and not random (">1902.70", "1902.90", "1903.10"...but then another asset "1.1225", "1.1250", "1.1275").
    Expiries:
    Forex Daily = 3am, 7am, 11am, 3pm, 11pm
    Forex Weekly = 3pm
    Indices Daily varies by it's Native Country (US = 4:15pm, Japan=2:15)
    Indices Weekly varies by it's Native Country
    They all hold contracts that come in different hours timeframes (8pm-10pm being a contract)

    It can really be confusing, but once you stick to the same trading schedule (I normally do my trading at around 9pm-11pm and occassionally around 10am-1pm) you'll find roughly the same Expiry contracts. It's again, I don't know how they decide their strikes, so you can't really devise a plan of action until the contracts are posted to see if your believed entry is in range of the posted contracts.
    I think they use an algorithm to denote levels of support/resistance? or something like that, a probability based on price action.

  9. #9
    Solid Member uaktags's Avatar
    Yea, I'm not too sure. I know I've seen a number of times where the strikes were so far out of the realm of probability that even with 5-6hours left before expiry, you couldn't (wouldnt) as they were already ITM. Like say the current price was 108.5, but contracts were still set with the highest being >107.90. So the formula used definitely is decided at a price point early on before the volatility has taken hold.

    I've asked the support team about any Developer API's they offer to stream market data on a read only basis. They've disclosed that they have API for their "Market Makers" idea and a Market Data api, but we're still talking about what it is that they offer. Im looking to see if there's anyway I can't get a way to find out what the current Contracts and Bid/Offer prices are via an API source. It would better assist in understanding how the Contract prices fluctuate with market movements in each asset's market.

  10. #10
    Rookie Member Jaykwan's Avatar
    Correct me if I'm wrong, but is NADEX trading platform similar to Binary.com, But of course NADEX is like highly regulated from the government. Its not everyday there is a regulated binary broker that allow US traders

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