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Thread: Hi all

  1. #1
    Rookie Member MT42BINARY's Avatar

    Hi all !!!

    Hi all my name is Frank D, I thought i would introduce my self here before posting to the commercial section, i have been trading bins for about 2 years now, so any questions are welcome, I trade OB/OS reversals, or pullbacks on trends, most of this came from trading intra day Forex scalps and seeing that Bins if you could get it right had a higher payout on a smaller investment than FX scalping. Im hoping to learn a lot as the transition from bins to FOREX for me has been pretty brutal I keep wanting to close trades and I can not. So any advice on how to switch from FX to a time based expiry would be welcome.

    TY you for your time and I would normally say more pips to you but bins does not care about pips so i guess i need a new punch line.

    Cheers Mates!

    Frank D.

  2. #2
    Master Member SeasaltMcFish's Avatar
    Hi Frank, welcome.

    Changing from Forex to BO is tricky, but possible.
    Take distance from your previous trading methods and take time to read through our school section to learn. You'll see it's possible.

    Happy trades!

  3. #3
    Legendry Member willyw's Avatar
    Hi Frank, welcome to BOTS. Changing from forex to BO is possible. I have been trading forex for 28 years and now I am trading BO and I am still trading forex now.
    You need to get the right expiry and made adjustment to the trading strategies that you use for forex trading.

  4. #4
    Moderator Kolyo's Avatar
    Welcome to CommuniTraders Frank!

    You will really find useful information here and a lot of friends I am absolutely sure

    Trading forex and binaries is a bit different and from your post I see you understand the difference very well The time factor (expiry time) in binary options doesn’t exist in regular spot trading. In my view it is advantage and not a disadvantage, because it gives you additional guidance to not close prematurely or emotionally your positions. Before switching to binaries I also had this serious problem when I was trading very short term and scalp I always closed my positions when they appeared on profit and didn’t wait for the optimal or better price for that exit. Now with binaries I don’t have this problem any more.

    To make the transition it will be very important to uncover the optimal expiration time for your strategy. If you are scalping try something between 5 and 15 minutes. Although trading 60 seconds is possible in some conditions. It is much more difficult, and easy for the brokers to play with your entry and expiry prices.
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  5. #5
    Administrator Martin Kay's Avatar
    welcome aboard(: I already see our guys here help you, see we'll so you around!
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  6. #6
    Veteran Member protrader's Avatar
    Extremely simple to switch from FX to BO, concentrate on timing and cycles and build your strategy around it.
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  7. #7
    Senior Member linda_fx's Avatar
    Switching from Forex to BOs might be tricky, but it's not that hard. I've traded Fx for a few years before I found about BOTS. Actually, I think that the other way around is harder.

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