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  1. #1
    Active Member astravars's Avatar

    The journal of a future successful trader (hopefully) !!!

    Hello, guys!
    I've recently started my path to the trading world of binary options. Saw quite a few blogs and decided that it would be a great idea to have one of my own!
    That way I can share my experience with others and hopefully, get a feedback from more experienced comrads. Also it is a truly great way to keep with my ups and downs posting results of my daily trades.

    Today I've started testing the EMA3&EMA9 strategy which proven to be quite a good strategy according to other traders' feedback. The tricky part for me was to wait until the one ema crosses the other and open a trade exactly the same moment for a short period of time (2-5 minutes).

    Results are what follows:
    ITM/OTM deals: 9/6
    Profit: $6
    Assets I used: EURJPY, EURGBP, EURUSD.
    Option type: Short term

    The reason I finished with the total profit of only $6 is mainly because 1. wasn't patient enough, rushed into deals; 2. invested much more that I should have (greediness is my weak point, I have to admit)-_-
    In any case, I've learned my lesson. Need to stop for today in order not to loose every penny I've got left

    EURUSD isn't for me before I gain more experience, obviously. It is impossible for me to analyse the trend for the short period for that asset.

  2. #2
    Legendry Member Okane's Avatar
    Hey. It's a really good choice, opening your diary I mean.

    About using short EMA's, I don't personally recommend such short period EMA's.
    Surely, they could be good for very very short timeframes like M1 but I would ditch those and focus on the price action and drawing my own lines.
    Higher period EMA's however are much more stronger and accurate, like the 200 EMA which I prefer.
    The problem with your EMA's is that it is pretty much only displaying what just happened on your charts for a few minutes ago.
    If you instead focus on the candlesticks you will get much better entries!

    One example is this ( I made a video of Michael's strategy (AKA the Geek)) for our YouTube channel:
    The Geek Simple Moving Average Strategy

    It might be too advanced for you but you will get the idea of what I mean by focusing more on the price action.
    Feel free to watch the price action playlist on that same channel to boost your trading by like a 100 times
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  3. #3
    Active Member astravars's Avatar
    Hello, Okane! Thank you for your suggestion!
    I've checked out the video quite good exlplanation, although, I do have two questions:
    1. what if I am more of a turbo option trader? Frankly, I simply hate waiting for hours for the deal to expire, thus I'm choosing the short term. Can I use the same strategy for 5 minutes? It doesn't seem to be working for short trades
    2. What has always disturbed me a little in such educational videos is that it is easy to show possible trends on the past graph. Maybe you have something like online trading using the strategy? So can see that this analisys really works for when you have no idea what is going to happen to the market next minute.

    I'm only trying to learn and understand. Thank you for your help!

  4. #4
    Legendry Member Okane's Avatar
    1. Yes a strategy might now work on a lower timeframe but my point was: price action and it works on all timeframes but it is more accurate on higher timeframes for obvious reasons.

    2. Previous history is the only thing that makes you a trader and not a gambler. Previous history is the price action.
    Being able to follow the previous patterns.

    Do I have a video, yes you will see videos on the channel where I explain how I took a trade by analyzing past history.

    Also, something I do live on a daily basis in my Skype Group.



    I don't use a strategy myself, just price action but here is one example:
    https://youtu.be/7KAfXBhM7lk?list=PL...jLnOndJ6V9axoR

    Also, here is an example of how forecasting using PREVIOUS history actually PREDICTS future outcome!
    https://youtu.be/lPg-YZGEUag?list=PL...jLnOndJ6V9axoR

    First look at the forecast then open your charts and look how price reached exactly those mentioned targets!
    Last edited by Okane; 04-24-2017 at 05:41 PM.
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  5. #5
    Senior Member Ingmar's Avatar
    welcome to the community Astravars!

    I found keeping a journal quite beneficial as well and i love reading other peoples diaries perhaps even more. Looking forward to yours.

    I myself have switched from indicator based strategies to (semi) naked chart trading. Even though you can find a lot of information about that on the interwebs where people use it succesfully for long term positions, i found it works fine on 60s charts as well.

    my trades usually take a few minutes but when you start counting candles for expiries, it doesn't really matter anymore on which timeframe chart you are trading. Not taking important news or fundamental causes for market moves into consideration.(i hate market moves due to news so thats another reason i like to trade shorter timeframes.)

    Backtesting a indy based strategy can suck bigtimes, i agree. It's a lot harder when the candles are building up live in front of you. And sometimes indicators like Bollinger Bands, or fractals only lock into position after the candles have closed (or even repaint and move to another candle).

    But as Okane said, for naked charting, history usually repeats itself. Looking at history and drawing my trendlines 'in the past' has made me a better trader in the present and assures me of more future profit :-)

    I wish you the best of luck and who knows, you might end up trading with naked charts as well, i'm sure you are very welcome in our skypegang :-)

    fair trading!
    Last edited by Ingmar; 04-24-2017 at 05:43 PM. Reason: Okane moved in like lighting and posted before i even finished my reply.

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  7. #6
    Legendry Member willyw's Avatar
    Quote Originally Posted by Ingmar View Post
    welcome to the community Astravars!

    I found keeping a journal quite beneficial as well and i love reading other peoples diaries perhaps even more. Looking forward to yours.

    I myself have switched from indicator based strategies to (semi) naked chart trading. Even though you can find a lot of information about that on the interwebs where people use it succesfully for long term positions, i found it works fine on 60s charts as well.

    my trades usually take a few minutes but when you start counting candles for expiries, it doesn't really matter anymore on which timeframe chart you are trading. Not taking important news or fundamental causes for market moves into consideration.(i hate market moves due to news so thats another reason i like to trade shorter timeframes.)

    Backtesting a indy based strategy can suck bigtimes, i agree. It's a lot harder when the candles are building up live in front of you. And sometimes indicators like Bollinger Bands, or fractals only lock into position after the candles have closed (or even repaint and move to another candle).

    But as Okane said, for naked charting, history usually repeats itself. Looking at history and drawing my trendlines 'in the past' has made me a better trader in the present and assures me of more future profit :-)

    I wish you the best of luck and who knows, you might end up trading with naked charts as well, i'm sure you are very welcome in our skypegang :-)

    fair trading!

    Ingmar, very nice see you have level up to semi-naked charting. Very soon you can move up to naked charting. Keep it up.

  8. #7
    Senior Member Ingmar's Avatar
    Quote Originally Posted by willyw View Post
    Ingmar, very nice see you have level up to semi-naked charting. Very soon you can move up to naked charting. Keep it up.
    Thank you Willy! I sure hope so! I will keep doing my best :-)

  9. #8
    Active Member astravars's Avatar
    Thank you all for greetings and support!

    Okane, I admit, you were right! I have studied videos you've sent and applied the same logic to my today trades. It actually does work!
    By the way, great work you did. Thank you for sharing your knowledge with others.
    Now I wonder why create and invent a huge pile of different indicators if simple trend lines work that good!

    So, my progress for today:

    ITM/OTM deals: 3/1
    Profit: $156 (!)
    Assets I used as the same: EURJPY, EURGBP, EURUSD. Just love them. By the way, how do you detect which assets to trade? Any recommendations?
    Option type: Short term (1 deal), High/Low (3 deals)

    Yeah, I guess using long term options is safer. More predictable, but that was an agony for me sitting in front of the pc waiting for deals to finally close. In my favour, thankfully.

    Ingmar, maybe you could elaborate a little on how exactly are you using that method for short options? Don't think I'll manage to keep waiting anxiously every day...

  10. #9
    Senior Member Ingmar's Avatar
    Hi astravars,

    Of course. The method i use is similar to Okane's. I look at price action (how do candles behave RIGHT NOW and how did they behave on the same level in the PAST.

    Looking at this price action in the past i can draw lines on my charts which project themselves into the future. Horizontal lines and diagonal trendlines. If you see my diary you will notice i like trading trend channels, where i take trades near those trendlines.

    When i see the candles showing fatigue, eg. bears or bulls getting exhausted, indicating the selling or buying is almost over. Thats when i jump in, especially if Stoch confirms overbought/oversold :-)

    good luck and don't hesitate asking questions!

    fair trading!

  11. #10
    Legendry Member Okane's Avatar
    Glad you realized that!

    "Why invent indicators"
    Well, you must understand that most of these serious indicators were created by very smart and educated people, some even Rocket Scientists
    and they used them for various stocks and they were created based on huge and long market experience.

    Now, a newbie trader comes along and thinks that one indicator is gonna give him the same results as for a Rocket Scientist with
    10 years of market studies. You get the point!

    Indicators are not bad, traders don't know how to use them. I use Stochastic for example, it's good because I know how to use it and when
    not to use it.

    PS. regarding which assets: Trade whatever you like.
    Personally, I like assets with good and high volatility, assets with higher payouts and
    also correlated assets which is a type of price action technique we use.
    Last edited by Okane; 04-25-2017 at 03:46 PM.
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