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  1. #1
    Active Member SunnySihota's Avatar

    Sunny's Diary - Done in 30 seconds !!!

    Hey Guys!!!

    Im Sunny, those of you in the Skype group will already know me but this is my first time posting here.
    Ok so a little bit about me. I got into Binary Options 1st Feb this year after watching a documentary on Channel 4 about some guy who says he was making at least £40k a month. The program showed his lavish lifestyle and fleet of cars (im a sucker for cars). I thought to my self "i can do that", and thats where my journey began.
    After watching this i started researching Binary Options. Luckily for me my Uni course and work thereafter was mostly internet/business based so i tend to be able to spot a scam a mile off and realized immediately that the top search results were just out to take your money. This lead me to the forums and out of the lot, i found CommuniTraders to be the most reliable.
    It just happened by chance that the Skype group had just started around the same time i got into BO and this is the reason why i went directly there......

    So.... Firstly i would like to start off by saying, those of you not in the Skype group you should join as i believe it cut my learning time in half. Also once you join dont be afraid to ask questions and show your charts, no matter how bad they might be. Theres always people there to help and you wont get mocked. Joining the group put me on the right path to learn what i need to learn in the correct order, without running around like a headless donkey (just read through it again and thats supposed to be chicken).

    My Trading Style
    I mainly trade 5mins and less but my sweetheart and long time lover is 30 seconds. She was there from the start and she'll be with me till the end Sometimes when i have bad days i dump her but she always keeps coming back.
    Those of you familiar with Ronnels style of trading basically trade anywhere at anytime will see some similarities in our trading style. He really helped me refine my skills and put me on the rocket to the mooooooon.

    I have demo traded like a mad man for 3 1/2 months refining techniques, some days i have hit nearly 200 demo trades all technical not random. This really helped as im a big believer in "you learn from your mistakes". I mainly concentrate on catching the peaks, bottoms and scalping. I think this is why i like 30 seconds because there are so may trading opportunities. There are some drawbacks to learning like this and i will discuss this later in my diary.
    Im a firm believer in the power of Price Action, SR and trendlines and indicators which show overbought and oversold. Master all these and your on the road to success (im still on that road by the way, waiting to see whats at the end)

    So i hope this is enough to keep you guys interested and i will try to post my past progress in some sort of linear fashion (as it has been 4 months since i started). I will describe what ive learnt, what i found useful, mistakes ive made and then it will be all about my current progress.

    Before i sign off for the time being id like to give a big thanks to Okane, Ronnel, Milos, Willy, Nimz and Lelyz for making me feel welcome and really progressing my learning further.
    Last edited by SunnySihota; 05-28-2016 at 11:21 AM.

  2. #2
    Active Member SunnySihota's Avatar
    Just to note the title of this diary may be a little misleading. Gone in 30 seconds may indicate that im not successful with this time frame and ill show you later that this not the case although its full of ups and downs. I did try and change this to done in 30 seconds but anticipated references to my sexual prowess which is not true (well most of the time).

    How i started

    I started trading with IQ option as the platform was beautiful and easy to use. This is where my 30 seconds obsession started as they are mainly a short term broker. I spent the first month reading through many forums and looking for, you guessed it "THE HOLY GRAIL".
    I tried various indicator combinations available on IQ based on what i had read online. The platform for me was a baby MT4 for maybe 1 1/2 months. Although i do not recommend this broker for live trading for various reasons my time spent there helped me in ways i was yet to discover. My work commitments allowed me to be in front of the charts all day and i literally spent 12 hours a day 6 days a week or more glued to the charts for the first couple of months (yes they have active charts over the weekend, but god knows where they get the data from). The benefit i got from this was probably the the most important thing ive learnt so far even tho i didnt realize i was learning it. PRICE ACTION.
    The charts on IQ move alot faster than anything you'll see on MT4 and this allowed me to get a "feeling" (very important word) for the way price moves. You actually see the chart move in waves, go up, go down, get stuck and shoot up or down after they really got stuck. This also gave me very early on, a feel for momentum (which ill talk more about later).

    Now for anyone starting, the best thing you can do to building you foundation is to really put the time into learning and if you can (here comes that word again) "feel" price action. Its like driving a sports car. Once you feel how it moves you know its limits how it should react at certain moments. What will price do when it reaches a support/resistance line or trendline, is price slowing down and getting ready for a reversal, what does the peak and bottom of a wave feel like, and many more. This is the pastry of your delicious cake that your making and everything else should be built around this.

    Do not base how quickly your learning in days or months. Its all about your chart time, so someone who was able to get 4 hours chart time a day would have 4x less time to learn than i had in the early months. You can sit at a book all day long and read about how it should work but until you spend the time tinkering with it on the chart you wont get to grips with it.
    Last edited by SunnySihota; 05-28-2016 at 02:16 PM.

  3. #3
    Legendry Member Okane's Avatar
    Good to finally have you here!
    You are fun to have on Skype and very helpful when it comes to taking
    care of beginners and sharing stuff. So thank you as well.
    Also, a good start to your diary. I'm sure this will be another
    amazing diary that I must recommend to newbies.
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  4. #4
    Active Member SunnySihota's Avatar
    Thanks Okane id just like to pass my learning, which has been pretty fast paced, on to others. Im still pretty new so obviously i dont know everything, but be sure to chime in if i start talking rubbish (i have a tendency to do that when i get carried away) or if anyone can add to points in my learning experience.

    Learn what kind of trader you are

    I feel its pretty important to know from fairly early on what your trading style is and what you feel comfortable with. No style is wrong or right, whats important is whats right for you. Every human being is different and we all have different tolerances to boredom and stress. An example of this is Okane and Ronnel. They both have very opposite styles but would you say that either of them are bad traders? No.
    It would be great if we could all trade like a machine (Ronnel) or have great patience and accuracy (Okane). I trade 30 seconds - 5 minutes because of the way my brain works, i have to be constantly stimulated in order to keep my interest in something. There would be no point in trading ultra long term or like Okane waiting for price to reach an SR as i probably would have left Binary Options by now. I can trade higher time frames as it involves exactly the same analysis and techniques but its not for me. I do understand however, that trading is like growing up and what im doing now may not be what im doing next year. I could be at my teenage stage right now waiting to mature

    Trading very short term is a risky business and i wouldnt advise anyone to set their sights on that path based on my diary (although im convinced alot of you will at least dip your toe to check how warm it is ). Be truthful to yourself and understand you strengths and weaknesses and from there you'll know exactly who to ask to guide you further.
    Last edited by SunnySihota; 05-28-2016 at 06:19 PM.

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  6. #5
    Rookie Member
    I will be following this thread to learn your style Sunny. Thanks.

  7. #6
    Active Member SunnySihota's Avatar
    Hi Marsagent

    If your new there will be things you will learn from this and ill be glad to help. The way i will structure this diary is that i wont tell or show EXACTLY what im doing, i will give information and tips that will allow you to look in the right direction in order to make people actually think about what they are doing. This is how i was taught by Ronnel. He never said here you go now copy it, it was more "look at this, tell me what you see".

    Good to hear from you. Thanks for following.

  8. #7
    Active Member SunnySihota's Avatar
    Know your indicators, but dont get sucked in

    As mentioned before i spent a fair amount of time looking for the "HOLY GRAIL". I was new and i truly believed that a certain combination of indicators would make me big bucks. Now im not saying that a combined indicator strategy cant make money i just think its like using a signal provider. Instead of looking at price your focus is on waiting for you indicators to line up. What ive found is that if your looking for combined indicator signals 1 day or sometimes they will work fantastic and other times they will fail miserably. I do know of some strategies on this forum that have helped more experienced members on here out of sticky situations with their trading accounts but none of them use them now...
    I spent one weekend downloading over 250 indicators to test what they do. But i can honestly say i dont use any of them now. I think this is standard learning process and even tho im saying this many people will still do it. Its good to test indicators and really understand what they do but dont let them control your trading.
    I really progressed when i realized that my indicators should be used for confirmation rather than instigation of a trade. For me looking at price is number 1, SR horizontal or diagonal is number 2 and an indicator just says everything else lines up and im telling you its ok to trade.
    One point to note is which ever indicator you find useful really study it. By that i dont mean read loads about it, but look at what all the dips, curves and crosses mean and how they relate to the movement of price. Just to take RSI as an example are the best entries as it enters overbought zone, at the top of the peak, as leaves the overbought zone or is there a way to trade all 3? What does the angle of the line mean as it leaves overbought or oversold zone? Ive been using a certain indicator for 2 months now and only this week i learnt something new about it.

    My apologies to people who are totally indicator based, i dont mean offence but im just stating my feeling towards them.
    Last edited by SunnySihota; 05-29-2016 at 01:38 AM.

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  10. #8
    Legendry Member Okane's Avatar
    Quote Originally Posted by SunnySihota View Post
    Thanks Okane id just like to pass my learning, which has been pretty fast paced, on to others. Im still pretty new so obviously i dont know everything, but be sure to chime in if i start talking rubbish (i have a tendency to do that when i get carried away) or if anyone can add to points in my learning experience.

    Learn what kind of trader you are

    I feel its pretty important to know from fairly early on what your trading style is and what you feel comfortable with. No style is wrong or right, whats important is whats right for you. Every human being is different and we all have different tolerances to boredom and stress. An example of this is Okane and Ronnel. They both have very opposite styles but would you say that either of them are bad traders? No.
    It would be great if we could all trade like a machine (Ronnel) or have great patience and accuracy (Okane). I trade 30 seconds - 5 minutes because of the way my brain works, i have to be constantly stimulated in order to keep my interest in something. There would be no point in trading ultra long term or like Okane waiting for price to reach an SR as i probably would have left Binary Options by now. I can trade higher time frames as it involves exactly the same analysis and techniques but its not for me. I do understand however, that trading is like growing up and what im doing now may not be what im doing next year. I could be at my teenage stage right now waiting to mature

    Trading very short term is a risky business and i wouldnt advise anyone to set their sights on that path based on my diary (although im convinced alot of you will at least dip your toe to check how warm it is ). Be truthful to yourself and understand you strengths and weaknesses and from there you'll know exactly who to ask to guide you further.
    You are right. That's exactly why we are not a signal service.
    When we teach people to trade, they will develop their own experience and habits and
    trade the way it suits them. Once you understand price action, you follow what works -
    your psychology and money management.
    I have also noticed a relationship between the size of the account and the number of trades.
    For example, for me a couple of trades can make above the amount most people deposit, but it is also
    a personality thing. I'm mostly calm and as you said in a nice way; "have great patience".
    But the trading psychology is most definitely the deciding factor.
    In the end, what's important is that it works in the long run.
    If you find yourself making money off of whatever approach you have, even a year or two from now,
    then you are most probably doing the right thing!

    Ronnel on the other hand is a great multitasker.
    He can find details in several charts at the same time and he is
    not afraid of pulling the trigger. But what I like about him is that
    he still possess the strength to not trade if the market is bad.
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  12. #9
    Legendry Member Okane's Avatar
    By the way:
    I love the fact that we have this diversity of trading personalities/styles in the group and
    also here in the forum. Because then everyone can find a favorite style that suits them best
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  14. #10
    Veteran Member Ronnel's Avatar
    I'm very happy that you have started your trading diary for several reasons. To see your development, your input and what I'm really looking forward is to see you pass your skills to other traders. I'm sure that you know that I do love teaching too but I don't have the patience, tolerance and kindness as you, plus I'm very choosy and a snob picking up students/apprentice. I saw your potential and I know you are making lots of ITMs even before. I saw that you are a fast learner and can follow orders and instructions on a snap. You think fast, dynamic and very aggressive which I like very much. Plus you know how to keep secrets and you don't break under pressure. The techniques that I passed to you are purely corporate trading techniques that are normally kept hidden (unless they are good friends or pay you several Ks), please use them wisely and please only pass them to worthy students.

    I know and I expect you to become a pro (please don't fail me) and I know that you will have students and will also be sharing techniques and tips to other traders and since you are more approachable, have more tolerance and more friendly than me, please don't give the newbies a hard time like what I did to you. Please do assist them when you can but please never spoon feed them or they'll never become good traders. The EAs that you are working on are super, please don't ditch them out easily ok.

    You are one of the best students I had but my last advice to you is to never let your high ITMs go over your head because too much pride is the mother of all fck-ups. There will be times that your trading will hit a wall and you will get OTMs, remember to go back to basic and re-strengthen your trading foundation again. Don't go looking for another stupid holy grail strategy because you know that it's BS. Strip down your chart and go naked, concentrate on PRICE, "feel the movement", do some paper trades again and when you are back in pace then trade like a robot again. Trade small, trade accurately and trade fast. Don't worry about money if you get some OTMs because it's part of the game, use your hedging skills to make losses to wins. Speed, volume and accuracy is no.1 but only enter if you see good trading opportunities. Take only high and medium probability trades and ditch the low ones (not worth your time..). Last is multitask, I know you are good doing this


    I'll say it again... Don't worry losing some money. There are times we have to "donate", lol! As I have told you that I have donated too, haha! Once you gained more experience and live trading skills things should be okay

    Always have an open eye for good traders like Okane, Milos and Willy because all of us have secret techniques hidden up our sleeves. Study their charts when you have the opportunity because we never know when they will accidentally show those secret lines. That's what I did and it really became a habit, haha!

    Wishing you good trade Sunny!

    PS: Could you kindly share some of your trading records here (demo or live, doesn't matter). Cheers!
    Last edited by Ronnel; 05-29-2016 at 06:55 PM.
    Duct Tape can't fix OTM

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