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  1. #1
    Active Member stensten's Avatar

    Hi guys from Singapore !!!

    Hello everyone!

    I have been trading forex for around 6 years, with various brokers. Started with stupid MT4 EAs which got me nowhere, and now ended up trading naked, simply waiting for pin-bars on H4 timeframe. This strategy has worked rather well for me so far.

    I also opened an account with Banc de Binary around 6 months ago, if i have signals on my Mt4, i will also place a small trade.

    What i dislike about Binary as compared to Forex is that the profit potential, as i trade on longer timeframe, if it goes well for me, the risk:reward ratio is high, around 1:3. But for binaries it is capped.

    However, the disadvantage is also its advantage, depending on how we look at it. With the recent swiss francs saga, i noticed that even with a stop loss level in place, it is impossible for brokers to close at the stipulated level. Many accounts were blown. I supposed that would not have happened for Binary traders.

    I am glad to join this community. I also am here for business, which i will post in the relevant section once i am allowed to, trying not to contravene any rules.

    Cheers

  2. #2
    Master Member SeasaltMcFish's Avatar
    Welcome Stensten

    I can advise you to go through our school to see the difference and similarities between Forex and Binary options.
    You can and will learn a lot if you spend time for this first.

    Good trades!

  3. #3
    Administrator Martin Kay's Avatar
    Lol actually if you think about, if you hold Swiss frank against Euro, you could've made some $$$.
    But in general, I see your point. When trading such short TF im guessing many position where initiated at the time of dramatic news, and many short terms traders could profit.

    in any case, good to have a veteran FX trader here. see you around!
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  4. #4
    Active Member stensten's Avatar
    Thanks for the kind words. I will look up the educational materials, and will try to share some charts and trading setups when the opportunity arises.

  5. #5
    Legendry Member willyw's Avatar
    Quote Originally Posted by stensten View Post
    Hello everyone!

    I have been trading forex for around 6 years, with various brokers. Started with stupid MT4 EAs which got me nowhere, and now ended up trading naked, simply waiting for pin-bars on H4 timeframe. This strategy has worked rather well for me so far.

    I also opened an account with Banc de Binary around 6 months ago, if i have signals on my Mt4, i will also place a small trade.

    What i dislike about Binary as compared to Forex is that the profit potential, as i trade on longer timeframe, if it goes well for me, the risk:reward ratio is high, around 1:3. But for binaries it is capped.

    However, the disadvantage is also its advantage, depending on how we look at it. With the recent swiss francs saga, i noticed that even with a stop loss level in place, it is impossible for brokers to close at the stipulated level. Many accounts were blown. I supposed that would not have happened for Binary traders.

    I am glad to join this community. I also am here for business, which i will post in the relevant section once i am allowed to, trying not to contravene any rules.

    Cheers
    Hi Stensten, welcome on on board. (Kagi lang) Oops (sorry)that's our Singlish (Singapore Language).
    Hope you can share your experince here. I trade forex, too.
    Last edited by willyw; 01-20-2015 at 04:26 AM.

  6. #6
    Active Member stensten's Avatar
    Hi Willyw,

    Thanks! Nice to find someone in the same timezone..

    Currently staring at my mt4 terminals haha..

  7. #7
    Moderator Kolyo's Avatar
    Hello and Welcome to CommuniTraders man!

    You seem have a lot of experience in the markets and that’s great! You know pros and cons of binary options well too. The risk reward is fixed and this may be a disadvantage, but it also help much better controlling risk exposure, while in forex and commodity trading you never know what your real exposure is. Like for example the CHF explosion pretty sure destroy many traders there even big hedge funds betting against CHF account now enormous losses because of their poor money management. If you trade binaries it can not happen bcause your risk is always fixed. Have a nice time here, surely you can learn a lot from the stuff here
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  8. #8
    Legendry Member milos's Avatar
    Quote Originally Posted by Martin Kay View Post
    Lol actually if you think about, if you hold Swiss frank against Euro, you could've made some $$$.
    But in general, I see your point. When trading such short TF im guessing many position where initiated at the time of dramatic news, and many short terms traders could profit.

    in any case, good to have a veteran FX trader here. see you around!
    You're right Martin. I hold all my saving in Swiss franc almost 18 months.Yesterday I sold Swiss franc and bought euro. My interest rates was 18% on investment amount. I knew that it will be happened after three years fixed exchange rate EUR/USD 1:1.20 by SNB monetary policy.

  9. #9
    Legendry Member milos's Avatar
    Quote Originally Posted by stensten View Post
    Hello everyone!

    I have been trading forex for around 6 years, with various brokers. Started with stupid MT4 EAs which got me nowhere, and now ended up trading naked, simply waiting for pin-bars on H4 timeframe. This strategy has worked rather well for me so far.

    I also opened an account with Banc de Binary around 6 months ago, if i have signals on my Mt4, i will also place a small trade.

    What i dislike about Binary as compared to Forex is that the profit potential, as i trade on longer timeframe, if it goes well for me, the risk:reward ratio is high, around 1:3. But for binaries it is capped.

    However, the disadvantage is also its advantage, depending on how we look at it. With the recent swiss francs saga, i noticed that even with a stop loss level in place, it is impossible for brokers to close at the stipulated level. Many accounts were blown. I supposed that would not have happened for Binary traders.

    I am glad to join this community. I also am here for business, which i will post in the relevant section once i am allowed to, trying not to contravene any rules.

    Cheers
    Welcome to BOTS Stensten!

  10. #10
    Administrator Martin Kay's Avatar
    Quote Originally Posted by milos View Post
    You're right Martin. I hold all my saving in Swiss franc almost 18 months.Yesterday I sold Swiss franc and bought euro. My interest rates was 18% on investment amount. I knew that it will be happened after three years fixed exchange rate EUR/USD 1:1.20 by SNB monetary policy.
    Smart move! why didn't you speak before?

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