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  1. #1
    Senior Member raymond09's Avatar

    Would I be profitable every morning? !!!

    I have been trading binary options for about 7 months and every month I pretty much break even. I win alot of trades but also lose a lot. It seems like the chance of any one trade being successful is 50/50 like flipping a coin. I think maybe I am doing too many trades each day. I want to ask experienced binary options traders this. In your experience would it be better to do one big trade per day versus like 8 smaller trades a day. Example doing one 200 dollar bet versus 8 $25 bets. Each day I seem to start off winning trades with a strategy and then as the day progresses I start losing trades using the same strategy. I think I have noticed that for me at least I win more trades in the morning and lose more at the end of the day.
    Would I be profitable if I only did one big trade every morning?

  2. #2
    Senior Member linda_fx's Avatar
    Hi, raymond09. If you are close to break even with many trades a day, you will become profitable for sure if you decrease the numbers of trades you take every day! Be more selective and trade only when you think your mind is in good condition and your view of the market is not disputable. If you have the stats that morning trades gives you more profits trade only morning hours. The risk you will chose will depend only on your account size and your risk taking ability. I don’t recommend you to increase the risk per a single trade 8 times. I think you could increase it only 2-3 fold and than check how it is going. Only when you are sure you have good profitable streak you could increase it a bit, but always check to not exceed 5% of your total capital allocated for trading!

  3. #3
    Senior Member dorrian's Avatar
    I also trade this way. Select a time zone when I am most comfortable to trade and execute trades only during these hours. When I switched to this type of trading my wining percentages greatly improved!

  4. #4
    Solid Member
    Yes it is very easy if you have some sense of how to trade forex currency pair because if you have 100$ in your account then you can easily earn every morning remember if you aiming for 10$ or 15$ every morning with 500$ account then it will definitely be too easy for that account, if you play on 2 lot then simply 5 pips get you 10$-15$ and i think you can manage 5 pips a every morning easily.

  5. #5
    Master Member Bogdan G's Avatar
    Quote Originally Posted by raymond09 View Post
    Would I be profitable if I only did one big trade every morning?
    And if you lose that one trade...? Wouldnt it be better to spread the risk and not bet high on just one trade?
    If you make money in the morning, take 2-3 trades and stop when you are in profit. Trading is not entertainment...for that we have movies, hobbies...

  6. #6
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Quote Originally Posted by raymond09 View Post
    I have been trading binary options for about 7 months and every month I pretty much break even. I win alot of trades but also lose a lot. It seems like the chance of any one trade being successful is 50/50 like flipping a coin. I think maybe I am doing too many trades each day. I want to ask experienced binary options traders this. In your experience would it be better to do one big trade per day versus like 8 smaller trades a day. Example doing one 200 dollar bet versus 8 $25 bets. Each day I seem to start off winning trades with a strategy and then as the day progresses I start losing trades using the same strategy. I think I have noticed that for me at least I win more trades in the morning and lose more at the end of the day.
    Would I be profitable if I only did one big trade every morning?
    Before answering ur question I would like to say GREAT HABIT!!!!. Usually traders read articles on "audit and analyze ur own performance" but forget it.
    Now that u have analyzed ur performance carefully, ur conclusion is actually wrong. It is not about "too many trades", it is about "over trading" or "over aggression". Now analyze ur trades in another style. See if u r trying to win "every pip" in the market or u r going only after "high success probability" trades. If ur current style is "win every pip" then change it to "high success probability" and if it is already "high success probability" then change it to "highest success probability".
    Enter when ur analysis is giving u a clear indication of market movement. It will increase ur winning percentage. You can try smaller amounts for trades where u think probability of failure is a little higher. For example u r averaging 8 trades a day and spending $25 on each trade. Change ur spending. Spend $160 on 4 high success probability trades and remaining on 4 low success probability. It is just an example. Ratio can be 5:3, 6:2, 3:5 and etc. It will give u an idea of if the trades, u consider as "high probability success", have more winning rate as compared to "low success probability" or not. If not then obviously u need to revise strategy. If yes then u can leave "low success probability" and continue trading on high success probability.

  7. #7
    Junior Member
    This is not certain in this new era of binary market. You must trade very careful every moment. Deposit a minimum deposit of one hundred dollar to make good profit otherwise it will be very difficult to you to handle binary market. In some days you may have see end of the day you can not make profit but most of time you can make profit if you are good at trading.

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