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  1. #1
    Active Member victrader's Avatar

    victrader's Trading Diary !!!

    This is it. The first step in the process of becoming a successful binary options trader. I want this for two reasons: to escape wage-slavery, and to become master of my emotions/psychology. As a call-centre worker I have spent the last couple of weeks reading articles, diaries, and strategies on this incredible forum. I do this in between calls, and it gets me through the day. The IT system at work is set so that I am unable to login to BOTS, but I can read it. By the time I get home, after spending 9 hours glued to a computer screen though, I at least know that I am in no fit state to trade demo, let alone live. Today though I am off work and intend to do as much as I can here to move towards my goal.

    I am logged in now to the BOTS virtual trader, on the EURUSD, and also logged into MT4 Web. I spent many, many hours trying to install MT4 desktop on Linux but couldn't, so am hoping the Web version will do the job. I emailed myself from work with a simple beginner strategy by Okane, using two moving averages. I will start with that in order to learn price action, the movement of candles, and using multiple timeframes. First I need to learn how to draw SR lines on MT4 web charts, and also how to bring up multiple charts. I will also need to learn how to copy Communitrader charts and place them in here.

    BOTS has inspired me to commit to this. Articles by Okane, Bogdan,Martin, and others, the diaries of BossB and Ronnel, the willingness to share, and the community as a whole are things I am not only grateful for, but also know that they are my ticket to a better life if I use them properly. At some point in the future I intend to be able to give back to the community. When i can do that I know I will have achieved my goal.

    Okay, the minutes are ticking by. Time for some learning action
    Last edited by victrader; 12-08-2016 at 08:55 AM. Reason: Had Boss1 instead of BossB

  2. #2
    Legendry Member milos's Avatar
    Welcome to Communitraders trading community. Keep trading, share trades and post trading history.

    Happy trading!

    Good luck.

    Milos

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  4. #3
    Active Member victrader's Avatar
    Thanks, Milos. At the moment my trades aren't being shared as there is a glitch with the system, but I believe that's being sorted out.

    I have discovered a great strategy for everyone though, and so far it is 100% ITM. The signal is this - when I Call, everyone else must Put. When I Put everyone else must Call. I don't know how I do it but every time I trade the trend, it immediately moves in the opposite direction. There is a gold nugget in there somewhere!

    Anyway, I'm studying the Best MACD entry Strategy at the moment. Watching Okane's video at https://www.youtube.com/watch?v=Jzptcgg3Qf0 and reading the full strategy review at http://www.binaryoptionsthatsuck.com...gy-yes-we-can/

    The particular lesson for me here is 'patience' - I made these trades without waiting for the histogram to trigger its signal. Everything else signalled a trade entry, but of course if I am right they turn out to be small whipsaws.

    I know that I have no real idea of what I am doing. But from my comments here is anyone able to read between the lines and put my thinking in the right direction?

    Grateful for any feedback whatsoever.

  5. #4
    Legendry Member milos's Avatar
    Hey Vic welcome mate.

    Take your time.You can learn a lot of binary options trading.I spoke to many traders soon.You have to be careful in the last week of December and the first week of January. They're Xmas and New Years Holidays. Bad time for trading. I'll take pause. During this period there is hard to predict price movements. Unusually movements.

    Milos

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  7. #5
    Active Member victrader's Avatar
    I traded the EUR/GBP this morning at 08:00. I was looking at the close of Friday 16, and especially at the nice inverted hammer that sat there at the bottom of a downtrend. It was also resting on my support line. Coupled with that I read that the German IFO meeting was going to give a good forecast for German business and therefore good for the Euro. The meeting was at 08:00 UK time so I decided to buy at that time, feeling strongly that a 2 hour expiry time would give the good IFO forecast time to spread and for the Bulls to send it high.

    Unfortunately in my newbieness I thought there would be no trading/market movement until Monday morning. Found out I was wrong when my inverted hammer was a few candles back down the track. But it was going generally in my direction so I went for it.

    Well, what a great learning experience. Volatile ain't the word on the M15 and M1 charts. I was tempted to sell for a £3.00 profit on the minimum 24Option stake of £24.00 bur stuck to my plan to see the trade through to expiry time as a learning experience. Any feedback would be appreciated. I don't know whether I came out green because of my astute fundamental analysis, and candle-gaing, or just plain lucky.

    Click image for larger version. 

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  8. #6
    Active Member victrader's Avatar
    I just spent an hour studying price action, and the movements, shapes and patterns of the candles. I drew a support line on the M1 and M15 charts and was amazed to see price respect that line twice. I demo-traded the upswing three times and went ITM on all of them. I could feel it wasn't 'luck' - the PA was clear about it's intended direction each time. I read a lot on BOTS at work today about candlesticks - posts by Okane, Michael, and Ronnel. Brilliant posts. As Okane said "... price action is almost an art form" - it is an art form, and I'm feeling well arty.

    I put a CCI there. But didn't use it. Not sure if it would have been useful in the scalping that I was doing. Anyway, any feedback would be great.

    Click image for larger version. 

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    Forgot to mention I bought a computer and monitor at the weekend. I gave up trying to put MT5 on Linux, so got me a Windows 10 refurbished PC for less than £100. Now got my MT5 charts on one monitor and my broker on the other. Heaven!
    Last edited by victrader; 12-21-2016 at 07:42 PM.

  9. #7
    Veteran Member Ronnel's Avatar
    Hi Vic!
    Very nice to know that you are studying PA. PA can take a long way.

    About not using CCI even when you have it when scalping is very normal and the reason for this is you are beginning to understand PA. The more you get better with PA the more you'll notice that your concentration will be focused on Price. Do you know that one of the best way in speed scalping very short TF is without using indies especially when scalping 30 seconds or less. Just imagine what you can do with the skill if you are scalping on a higher TF say M1 or M5 charts where things looks a lot slower. Yes this may sound crazy but I hope that you'll learn this technique too as you go along. You won't be needing indies for this and I can say that you'll be chasing to trade high impact news like a mad man even when you don't follow the news when you learn the skill I just gave you a glimpse of what advance PA can do for you so please keep on pushing

    Looks like you are very serious with your studies and even bought a Windows computer for MT5. Thats a good start!
    Please don't throw you old Linux PC because when you get better with PA that you can basically use any online chart because you won't be needing that many indies or none.

    Wishing you good trades!
    Duct Tape can't fix OTM

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  11. #8
    Active Member victrader's Avatar
    Quote Originally Posted by Ronnel View Post
    Hi Vic!
    Very nice to know that you are studying PA. PA can take a long way.

    About not using CCI even when you have it when scalping is very normal and the reason for this is you are beginning to understand PA. The more you get better with PA the more you'll notice that your concentration will be focused on Price. Do you know that one of the best way in speed scalping very short TF is without using indies especially when scalping 30 seconds or less. Just imagine what you can do with the skill if you are scalping on a higher TF say M1 or M5 charts where things looks a lot slower. Yes this may sound crazy but I hope that you'll learn this technique too as you go along. You won't be needing indies for this and I can say that you'll be chasing to trade high impact news like a mad man even when you don't follow the news when you learn the skill I just gave you a glimpse of what advance PA can do for you so please keep on pushing

    Looks like you are very serious with your studies and even bought a Windows computer for MT5. Thats a good start!
    Please don't throw you old Linux PC because when you get better with PA that you can basically use any online chart because you won't be needing that many indies or none.

    Wishing you good trades!
    Hi Ronnel. Really appreciate your help. No, mate, it doesn't sound crazy. I did some more on the M1 this evening, but you are absolutely right - higher TFs over the weekend.

    I won't be chucking my Linux computer out - love Linux. Love having two screens to trade with. I read some more at work today - I think it was Michael and Okane who said that the goal shouldn't be to make a certain amount of money - it should be to trade well. That for me says it all. That concept alone will keep my wrong-thinking at bay, and will make me a successful trader. That, and the help of you incredible people here on BOTS. Thanks again Ronnel.

    Here's a trade I did this evening. I'm a bit embarrassed to show it, but getting feedback is more important.

    Click image for larger version. 

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  12. #9
    Active Member victrader's Avatar
    I just realised my charts aren't enlarging when clicked on. What am I doing wrong?

  13. #10
    Legendry Member milos's Avatar
    Quote Originally Posted by victrader View Post
    I just realised my charts aren't enlarging when clicked on. What am I doing wrong?
    What do you mean? Full screen charts here or in MT4 charts?

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