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  1. #1
    Veteran Member randy1953's Avatar

    Randy's Trading Diary !!!

    Well first great to be here. I will preface this that I been trading around 45 days now with Binary Options.
    I just started trading today with Empire Option and thought it would be cool to trade with indicators so here's my story so far:
    First happy to be here. If I ever become a pain in the butt with my comments or questions just let me know. I'm here to learn to become a better trader. A nice discussion on the Nudist Colony thread where I posted my trades today.

    Today was hell. I was so excited to begin traded non-naked. I was trading Naked and never knew it. So over the weekend I downloaded the MT4 and also downloaded some Forex course with different indicators etc. I would had bet my last 10 bucks that I would have done better today with all these indicators and a MT4 window to look at. Well I was so wrong. Even though I tested these indicators and spent a good amount of time with them and making some rules that the 3 indicators I use all have to come in agreement at the same time to make a trade. Well I swear on paper it worked better than 80% of the time. So fast forward to today and nothing began working out. I waited to get all the same signals I had yesterday but the pair did not move as they did the day before. After loosing 3 trades it took all I had to close that darn MT4 window and begin trading like I was before naked just watching and watching the charts. Once I went back to my old ways successful trades began to emerge. I only trading for a little while as I felt all my energy was zapped. Ended up with 6 wins 3 losses. Belive me it would had been much worst if I was just using those indicators.
    Some have asked me how I trade 60 seconds with a 75% avg win rate on around 200 live trades. Well I don't really know and that's not good because I don't know what to study when I don't know what is working for me so any suggestions from experience traders here is most welcome. As far as I can tell which is not that much this is what happens when I make a trade.

    1. I watch and watch what I am looking for is a run up or a run down on the price. I only trade the USD/JPY don't ask me why I really could not tell you except it works for me. So lets say the pair is sitting at 124.290 and it goes up past .300 and comes down under .280 I just keep watching for a new number to come up like maybe a .305 or a .275 after around 5 or 10 mins I might see it creep up to .302 and then .305 so at .305 I take a put on that trade hoping to win on the bounce back the reverse is true for my call however when you look at my trade history at least 2/3 of my winners are all puts. So simply stated I wait for a high or a low make a trade in the opposite direction and hope a bounce back comes in 60 seconds. that's it.
    So I would love to know what I can study that will help this style of trading because it works well for me.

    Now I did think indicators and a Mt4 in a separate window would help but when I began making trades off the indicators they became losers. However I am not ready at this point to toss the indicators out because I got to thinking if I don't use them to make a trade with but use them to predict when a run up or down is going to happen then they could be pretty helpful to setting me up for the correct direction and the bounce back. The MACD divergence indicator seems to me a good one to use when it crosses over then at least if the cross over is going up I can be ready with a put trade and waiting to pull the trigger.

    Well that's it for today all suggestions feedback is most welcome thanks for listening
    Randy

    So far today trade I loss a few of the little guys like $10 and $20 but the big ones my $100 trades which are risk free I made count I lost 1 and won 3 of them so far giving me a net of $194 today. Not too bad but my win rate is way down it's only at 63.5%

  2. Thanks Okane thanked this post
  3. #2
    Legendry Member willyw's Avatar
    Hi Randy, so you finaly open a trading diary. Hope to see you share more of your trades here.

  4. #3
    Veteran Member Dan21's Avatar
    Starting a trading diary is a nice way to keep track not only of your trades but also of your toughts, mistakes and ideas. This way improving will be a lot more easier!

  5. #4
    Veteran Member randy1953's Avatar
    Well I will try to keep this useful for others as far as actual Trading goes but first I need to update what happened with Empire Options I will try to keep it short.
    I began loosing all my short term trades when I began trading with these guys. After doing a lot of real time research I have concluded that the SpotOption platform Empire uses is harmful to a trader. It lags much too much. To confirm this I went over to my other broker Bloombex Option and set up my MT4 watching the price not only was the price much closer in just a moment I could tell the platform was running much quicker than Empire and guess what I began winning my trades over there.
    Now I went to Empire to close my account and found out that I could not because I had to have 15 trades. But below that 15 trade condition under the TOS it states that these trades HAVE to be in the Normal binary Mode. Well being new to trading BO I thought my 60 second trades were this but wrong according to empire I could had made a million 60 second trades and would not meet their requirement. This imo is getting really close to a scam broker. All they would have had to do in the TOS was to put next to the normal binary mode that short term trades do not apply and I would had known this. So now I was force to make 15 of these trades to get my money back. I really never trade like this before so here's what happening.

    First thing I did was go and get a couple of strategies that our good friend had on a different forum. they may be here also but I found them elsewhere. One uses a SMA 50 as a trend indicator and the lowest low under go for a put and the reverse is true . The other uses Bollinger bands etc. However I waited and waited and just could not find the set up I needed. Ok what to do I went to a website investing.com where they give free signals and used them for 4 trades I won 5 and loss 3. It's a bit tricky getting the entry right with the expire time as Empire does not give a lot of 15 min trades most are 30 min or 1 hour.
    Not being very happy with these guys I bought a trial for $9.99 at a signal provider called Quataum Signals. I was told by another trader these guys are pretty accurate so we have that. I am suppose to receive 3-7 signals per day however I only got one signal today the problem was it hit my cell phone when I was sleeping by the time I got out of bed the option was close however it won by a mile.

    then lastly and what I am so far very happy with is a indicator that sells for $249 and somehow I was able to get it for free. It's called the !BOSS indicator. So far I have a 100% win rate with this one. It's pretty cool it gives you not only the signal but the % of the signal winning. I went with anything over 80% all winners by a good amount. It also keeps tracks of all the signals winners and losers.

    So This is how I'm trading now first using Okane set up , the investing.com I don't use but I am using the economic calendar to make sure the market is not excited by any news events. With the !Boss I'm using it on a 15 min or 30 min chart. When I get a signal for example on a 30 min chart I then got to 15 min to see if it can be confirmed when both are giving the signal with the % to win near the same I quickly open up Okane's templates check there also. Honestly I have not had the set up he gives to make a trade but a couple of times it was close so then and only then I go for the trade.
    Just trading today using the above I'm not doing as well as I done in 60 second trading I won 5 and loss 2 giving me a 71%+ win rate.
    So now I have 7 trades and 8 more to go to be able to withdraw or close my account.
    However I may just keep this account. Trading this way I like more than 60 seconds. But I may just trade 60 seconds over to Bloombex and do my regular BO trades over here.
    Cheers

    Okay I see what happened they made a new updated Boss indicator and are now selling it for $249
    Honestly I doubt it's any better than the BOSS I downloaded for free.
    I have to say it's a great indicator so far as long as it is used when nothing major is going on.
    It works best on the EUR/USD on 15 min TF however I had a good winner on the GPD/USD 30 min and the USD/JPY.

    Here's a link if you want to give it a try
    http://fxprosystems.com/boss-indicator

    If anyone here has the new BOSS and would like to share it please do
    Sharing is Caring
    thanks
    Randy
    Last edited by randy1953; 07-31-2015 at 08:52 PM.

  6. #5
    Veteran Member Ronnel's Avatar
    I'll be watching my favorite winner!
    Keep it up Randy!

  7. #6
    Veteran Member randy1953's Avatar
    Quote Originally Posted by Ronnel View Post
    I'll be watching my favorite winner!
    Keep it up Randy!
    Hey your too kind same to you my friend
    Randy

  8. #7
    Solid Member Davidkitdave's Avatar
    This indicator look good! Keep it up randy.

  9. #8
    Veteran Member randy1953's Avatar
    Ok first I have a headache last night was not very good for me I was trading the Forex Income Boss and not doing too bad I was at least in profit. But I was tired so I go to bed around 1AM and a hour later get a message on my phone I knew what was I subscribed for a 1 week trial with quantum signals hey only 10$. So far I only got 2 signals 1 winner 1 loser that I did not trade because it came like 2:30 AM and I was not going to get out of bed.

    Where I live in the Pacific northwest has to be the very worst place for a trader unless your a vampire and can stay up all night. Ok back to trading I did wake up at 5am tired and maybe this will help others don't go straight to your computer when you just woke up and start trading as your in danger of blowing your account. I took a quick look at the FIB trading system and I saw what I though looked good so I throw in a $100 trade then I see I entered wrong! So I'm watching and the trade begins to go my way so sell and get out with like $101 lol. then I go back in on the same trade and this time trade $50 but what I was not looking at is the money tab on SpotOption so instead of 50 that tab says now $150 it just took my 50 and added it on. So shit now I'm watching $150 go out the window I wanted to sell it but it was too far away I would have got maybe $50 and yes the trade was a loser. So my friends I learned a costly lesson at least wash your face and walk around a bit before you jump into trading.
    Later in the day I found that the 1 signal that I did not trade lost by just a hair but in the world of Binary Options it really doesn't matter you win or lose and that's it.

    So I got all emotional about my mistake so I look at my account which is getting smaller. Well I started out small with Empire $500 after a week of trading and getting my Volume up so I can close it I had only $198 left. It's a funny thing I had to stop trading 60 seconds because their software is trash super slow. So I needed 15 reg BO trades to withdraw or close my account. Which folks be careful with Empire Options they won't let you close your account or touch your money unless you have done 15 reg BO trades 60 seconds doe not count!

    So here I am pissed at myself for doing dumb things. I said what the hell I was feeling upset and wanted Empire Options to just go away. So I look at the FIB and I have a good sell signal on all the TF I use 5min. 15min, 30min so I bet the bank really thinking I will lose and that's it with Empire well you guess I won the trade and been trading a little today and my account is near $500 again. I guess god wants me to still trade with Empire Options.

    So that's it for today a lesson learned the hard way
    However it was a productive day my stats for empire are below but they don't tell the whole story.
    Because of my costly mistakes my account was almost blown well it was down to $198 and now I have it close to $600 so I say it was a good comeback. I really felt like I was going to loose it all . I'm also getting better with the 60 second trading on empire . they are still as slow as crap however the FIB helps immensely. I run the 1 min chart and it's pretty darn accurate for direction and momentum . So I changed my strategy a bit. With FIB i know which way the price is heading so all I do is wait for it to hit on the high side if the market going down or low side if going up. I also allow 2 mins not 60 seconds to let the price settle a bit after I enter. The entry price is everything when you are doing 60 second trading. Until today I could not win many 60 second trades like I do at Bloombex Options but now it's changed for me I won 8 out of 11 today Still have that headache I think it wants to marry me!
    Last edited by randy1953; 08-04-2015 at 06:24 AM.

  10. #9
    Veteran Member randy1953's Avatar
    The comeback kid

  11. #10
    Solid Member Madhawa's Avatar
    Dear Randy....

    You are going in the same way that I went for the last 5, 6 months. But thanks to Okene and other PROs here helped a lot to become what I'm today.

    It seems like it is the process of an average trader's typical cycle. Hope that following video will explain everything for you!


    The presenter talking about forex trader but this is same with BO Traders too.

    Wish you a brighter future!
    Good Luck

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