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Thread: Expiry Time

  1. #1
    Solid Member luderalison's Avatar

    smile 3 Expiry Time !!!

    Friends,

    I have been looking at the charts for the past 3 years. Had several blows! Lost close to 70% of my account. Nowadays trading with a zero sum results, some days with little profits. The best I could achieve so far. But I am adamant not willing to quit BO despite getting warned and adviced by many of my friends and relatives! I have decided to dedicate my life studying this derivative instrument - profit or loss, I don't want to care!!

    From my three years of observing, I can see most expert traders either overlook or are deliberately unwilling to speak much about expiry time in BO.

    I have managed using several indicators from BOTS and others sources to easily predict the unseen next move of a currency pair even before it could happen. But "how long is it going to last"? That phrase is our expiry time!? Often for me it gets shattered by a retracement (Expiry happens during the retracement - therefore OTM). Sometimes a reveral happens - therefore OTM.

    I will attach the image of my setup with this post. Experts please comment on it. (The bright arrows you see are completely non repainting - but when a arrow happens and we change timeframe withing 2 candles sometimes arrows disappear. I don't know if such behavior comes under repainting or not).

    Please after looking at it contribute your valuable thoughts and ideas.

    And advice how to choose expiry. That is my biggest problem so far.

    Thanks and regards

    Luder


    https://charts.mql5.com/7/404/eurusd...stock-ad-3.png

  2. #2
    Legendry Member Okane's Avatar
    Hey buddy and sorry.

    Sorry because now I have to be a little serious with you...
    You have been studying charts for 3 years and you still use a
    messed up chart like that and what the heck are all those arrows?

    "sometimes arrows disappear" well what did you expect? It is an indicator.
    No, I refuse to believe you have studied charts for 3 years. More like you have
    been like a zombie following indicators and auto traders.
    Now you ask why you lose? I think it is obvious...

    And you say you don't know about how we set our expiry. Because that comes with experience and skills
    and unfortunately you lack those because, again, you waste your time on ****loads of indicators.

    Again, sorry for being harsh on you but if you have been going this way for 3 years it
    is about time to wake the hell up. You are not gonna win a damn thing with crazy setups like that.

    Want to make money trading? You need to become an expert, meaning you need to gain experience.
    You have to actually analyze the charts not take a trade because of some stupid arrows and then
    complain about it repainting. I am seriously starting to think this an early April Fools' day.

    If this wasn't a joke then please just start with our school and stop trading, your friends are so damn right.
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  3. #3
    Solid Member
    I have to agree with Okane. About those arrows disappearing, it is called repainting and the reason why it does that is to show the indicator has a high success rate where in fact it doesn't.

  4. Thanks Okane thanked this post
  5. #4
    Legendry Member Michael Hodges's Avatar
    Check out this thread, it also links to my article on how to choose expiry, IT should help you....

    http://forums.binaryoptionsthatsuck....4318#post44318

  6. #5
    Administrator Martin Kay's Avatar
    I've a bunch of articles from all our top writers itching to go online. I'll let you know as soon as they're public
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  7. Thanks Okane thanked this post
  8. #6
    Solid Member luderalison's Avatar
    Quote Originally Posted by Okane View Post
    Hey buddy and sorry.

    Sorry because now I have to be a little serious with you...
    You have been studying charts for 3 years and you still use a
    messed up chart like that and what the heck are all those arrows?

    "sometimes arrows disappear" well what did you expect? It is an indicator.
    No, I refuse to believe you have studied charts for 3 years. More like you have
    been like a zombie following indicators and auto traders.
    Now you ask why you lose? I think it is obvious...

    And you say you don't know about how we set our expiry. Because that comes with experience and skills
    and unfortunately you lack those because, again, you waste your time on ****loads of indicators.

    Again, sorry for being harsh on you but if you have been going this way for 3 years it
    is about time to wake the hell up. You are not gonna win a damn thing with crazy setups like that.

    Want to make money trading? You need to become an expert, meaning you need to gain experience.
    You have to actually analyze the charts not take a trade because of some stupid arrows and then
    complain about it repainting. I am seriously starting to think this an early April Fools' day.

    If this wasn't a joke then please just start with our school and stop trading, your friends are so damn right.
    Cool down Mr. Okane

    Have you watched the movie 'twelve angry men'? I am afraid you are one of them!!

    Now to the subject - Thank you so much for that eye opening comment about my chart setup. I know it is a bit cluttered but I am getting comfortable with that setup. My paper trading with that setup yields close to 75%. I have been forward testing it for the past 3 months. Based on the common belief among traders that 'use a setup or strategy you are comfortable with' I am asking is it okay if I continue with that, plus any additions and advices from you.

    And please don't get angry as I am using those arrows. Actually I don't depend on them fully. I use them only for a visual support. For example when a good stochastic bullish cross occurs from oversold territory and I get an arrow as well, it gives me more confidence to take that trade.

    I said I have been watching charts for 3 years., well, I wish to eloborate that. I started sept 2013. Upto one year I only spent on looking for the infamous holy grail. Ocationally looked at an Mt4 chart. That is no experience at all. Then followed the broker signals for about 4 months. Lost the maximum of my account. It is roughly only less than a year I am focussing fully on MT 4 charts. As I see great potential in it. Sorry for that exaggerated info i said in my last post!

    Now to my nagging question. please give me some specific suggestions and a razor sharp method (if you have any) in fixing the expiry time. My actual trading in BO using Mt4 charts is very less, I admit. With your expert advice I believe I can really build my account.

    Regards

    Luder

  9. #7
    Legendry Member Okane's Avatar
    First of all, I am not angry, I am just being honest because that's what you need right now.

    Well, in that case I am Henry Fonda, juror No 8 who is trying to set
    everyone straight .


    You asked for my opinion and I gave you my opinion, your chart is a mess and one of
    the reasons for why it doesn't work live - don't take it personally.
    It is not okay to follow arrows and too many indicators.
    In fact, any more than 3 indicators is just too much, again that's my opinion. If someone does not agree,
    I don't care because it is working for me on my LIVE account and I earn money off of it.
    Paper trading results is one thing, live trading is another challenge on its own.
    So what I am saying is that; if your Christmas tree of a chart earns you money then you don't need
    my advice, you are good and you shouldn't care what I say. Then in that case, go for it, have fun enjoy your
    dollar dollar bills.


    Ok so first you spend a year on holy grails and Guru's
    then you spent time on following some broker who's interest
    is nothing more than you losing.
    And now you want me to say "ok go for it and follow some arrows for another year"

    Look, your problem is that you are trying to avoid the hard part = LEARNING.
    You want, arrows, signal services, brokers and Gurus to the work for you.
    Now you are asking me for expiry as if I have some secret code in my pocket.

    Again, I am not angry at you, it just blows my mind...

    Alright, here is how I pick my expiries:
    I ANALYZE the charts, no arrows, I use my years of experience which you lack and that
    I just can't hand over in one post in a forum and this is why I am saying you should start learning something useful.
    I draw support and resistance lines on various time frames, I analyze overbought and oversold levels,
    I use two indicators, Stochastic Oscillator and Moving averages.
    I analyze the trends. I watch out or study fundamentals.
    Overall, when I get the big picture it tells me where to enter my trade and via experience (hundreds of trades)
    I know that 10-15 minute expiry works for me and for THE ASSET that I trade and have been trading for the passed year.
    But even that sometimes isn't enough, from time to time I have to adjust and take a longer or shorter expiry. But this isn't all of it...
    There is more, like patterns that I have observed and learned. I know when my trade has a bigger chance of hitting success, the exact times that
    my expiries should work.

    Conclusion;
    Ditch the Christmas tree.
    Start from scratch, start learning, no more shortcuts.
    Please view this thread here http://forums.binaryoptionsthatsuck....Trading-Ronnel,
    it is Ronnel's diary. He started only weeks ago and he had a Christmas tree (only not as big as yours)
    and I told him to get rid of it. Now he is learning, he is doing much better
    even tough it's a demo. Step by step I am trying to help him. You can join too, start your own diary and
    stop with the madness
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  10. #8
    Solid Member luderalison's Avatar
    Honestly I see 'Henry Fonda' in you. In a world where people don't even care if a friend ate or not, you commit your time in educating fellow (wannabe!) traders like me. I have to appreciate you.

    Thanks for the expiry advice. I will grab them but as you said I need learning and experience to make use of them. I will start from scratch.

    Well., Mr. okane, I am looking at the thread you refered. I'm learning and seeing a lot information that i have often ignored. Great information to me.

    And I wish to use communitraders trading platform because my live trading results are just in the 'cat on the wall' situation! Can't really risk real money. The time I am comfortable to go live i'll go. Thanks again for your support. Keep up the good work. Looking forward for your next article in BOTS main site.


    Very late in Abu Dhabi now.

    A fresh start in the morning is my plan.

    Thanks and regards

    Luder

  11. #9
    Legendry Member Okane's Avatar
    Now that sounds like a plan!

    Yes, I wanted you to get some inspiration from that thread so you see
    learning is fun and you can start with such a simple chart like the one I
    suggested in Ronnel's diary thread. Later on you can/should build it up with your own experience, rules and
    maybe change some things to your own liking and favorite indicators without overdoing it of course .

    Precisely, don't touch your live account for now, you have already lost so much as you mentioned.
    That's why our demo platform is valuable.

    You're welcome, let me know if you have more questions.
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  12. #10
    Legendry Member milos's Avatar
    Hello Luder!
    Welcome to bots trading community.
    I've been reading you post it.I'd like to advice to you to use 2%-5% risk management at the beginning. It is included M15,M30 and H1 time frame expiry.You should watch M1 and M5 charts. Choose only one asset. EUR/USD for example. No need to use more assets.It can be only one-Highlander said. Did you see the movie?

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