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  1. #1
    Rookie Member sannyboy's Avatar

    Sans Trading Journal !!!

    Every Journey Starts With One Step

    First entry in what I hope is a long and successful journey.

    I am here after being made redundant, and prior to 4 months ago, I had no knowledge or any real interest in the financial markets. Too complicated and full of posh boys working 24/7 in Central London. At least that was my view from the outside.

    I had one conversation on my leaving day about spread betting on Forex... I had expected a card and some gift vouchers, but as it turned out, that conversation took me on a path I would never have found. And the result is this initial journal entry.

    I have not pursued spread betting, but my interest was piqued enough to see how else I could use the financial markets to my advantage, rather than just using them twice a year to find out how much less spending money I'd have for my holiday as the poiund continues to be an arse. So I stumbled upon binary options.

    Long story short, I used a demo account for about 3 weeks, and based all of my trading on using bollinger bands and RSI indication. This was after 1 conversation with a rep from IQ Option (who I have had no issue with, and that bloke has never called me since). The 4th week, I made a deposit, without taking any bonus and after getting email confirmation that my money was withdrawable at any time.

    I continued to use this strategy broadly for the next 2 weeks, keeping to my money management plan. However this 'strategy' was only slightly more affective than a coin toss in my opinion, so I went searching...

    I found www.binaryoptions.net, which led me to a YouTube video by @Okane, which led me here. About a week ago, I signed up, and I am pretty sure I haven't been to another website since!

    I'm sure this type of thing happens in other industries, or with other hobbies/sidelines/full time businesses, but I have never actually come across a place either on line or in the real world whose goal is to help people better themselves without asking for something up front. I know there will be income streams from the BOTS site, and that is absolutely right, but if a person wants to learn binary options, then they can, without hassle, and at their own pace.

    I can only say thank you.

    So, I have probably missed some of the smaller things I have discovered, but I have been live trading now for 3 weeks. Importantly, for me at least, my account has grown. More importantly my knowledge has increased.

    I am going to update this with shorter entries, but I wanted to be able to remind myself of where I started...

  2. #2
    Legendry Member Michael Hodges's Avatar
    That's a great post, thanks a lot for the props. Let us know if there is anything we can help you with and good trading!

  3. #3
    Active Member StumbleTraderDB's Avatar
    Bollinger Bands and RSI should be a good combination, used with understanding of Price Action including support/resistance and trend lines. Of course, if you've got a live account that is growing, maybe you can share what you're doing that is giving you this success! Hope you can actually withdraw a regular addition to your income from your broker.

  4. #4
    Rookie Member sannyboy's Avatar
    Quote Originally Posted by StumbleTraderDB View Post
    Bollinger Bands and RSI should be a good combination, used with understanding of Price Action including support/resistance and trend lines.
    Hey. That combination was pretty simple to identify points to enter a trade... place a call when pice when through the lower band, and a put when it went through the upper band and RSI was either above 75 or below 25 matching the direction of the trend. That was my 'strategy' as discussed on my one call with an account manager. I didn't know about S/R lines or trend lines etc. It worked to a degree, but I didn't really know why when I was ITM, and more importantly I didn't know why when I was OTM. I also hadn't heard of price action at that point...

    I am not using BB's at the moment. After reading some of the other strategies on here I am trying to implement a couple of those. More indicatores, S/R and trend lines to hopefully get better confirmations of trades. Time will tell!

  5. #5
    Rookie Member sannyboy's Avatar
    Thanks Michael. This forum and main site hold a lot of answers to questions I haven't asked yet, but I'll be sure to take you up on that in the future!

  6. #6
    Legendry Member Okane's Avatar
    Hey this is a nice intro!
    Good to have you here .

    Check out some other trading diaries to see how to best share your diary.
    You know like including a picture (I recommend lightshot for taking printscreens)
    Then save them as JPEG and upload with Timeframe, price and indicator included if you use any.
    You can also mark your entries on the chart.
    3 confirmations is good to write in addition to the picture, it will help you evolve for sure!


    **Seems like my post was invisible too! So I am re-posting.
    PS, thanks for letting us know you like our work!
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  7. #7
    Rookie Member sannyboy's Avatar
    Thanks Okane, unbelieveably helpful in the Skype group!

    Today I made my first trade with the strategy I will be using in the near term. It is Okanes 13-30 minute strategy - http://www.binaryoptionsthatsuck.com...nd-profitable/ using the newbie entry, not the M5 entry.

    Identified candles being above the EMA's (200 and 50). Purple line is EMA21. Marked higher oversold lows. Unfortunately due to the kids wanting a sandwich, I missed a better entry (thumbs up marker), but placed a call on the arrow at about 11.25 MT4 time as the stockastic was now miving up, but as can be seen on the red line, I got this at the top of the candle. Bloody kids... If I had have got in 5-10 minutes sooner, this would have been a really safe trade I think. Gave it slightly longer than suggested in the above post at 35 minutes, but it ended at the close of the candle with the cross. Could have taken a 15 min expiry I guess.

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    Finished ITM

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    Took patience to wait for the correct point to make the trade, and still managed to fudge it a bit. Sorry for the additional picture at the end, not sure how to remove it!
    Attached Thumbnails Attached Thumbnails Screenshot_1.jpg  

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