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  1. #1
    Rookie Member

    Options Builder / Price Action + 8H Expiry required !!!

    Hi Guys,

    I've completely changed my approach to binary options by getting rid of any indicators (apart from 8EMA and 21EMA) inspired by Price Action approach. What's more, I choose only 8H or 1D time frame for technical analysis in order to dispose of 'noise' created by lower time frames and clearly see trading signals (doji etc.) (ref. Nail Fuller on youtube).

    I'd like to ask you to give me an idea which broker offers 8 hours expire in terms of 'option builder'. I thought you've got a complete leeway in terms of choosing your desired expire time (i.e. 4hrs, 8hrs, 13.5 hrs etc.) but it turns out that you're quite restricted (some brokers offer only expiry withing 2hrs, other between 4-5 hours).

    Since I've got your attention, I'd like to find out if anybody else's got the same trading plan as mine:

    (the times below are for GMT /London time zone so 22.00 stands for New York session close)

    1. bet at 6.00 - expiry at 14.00 (8H time frame for analysis) (BROKER - NOT YET FOUND)
    2. bet at 14.00 - expiry at 22.00 (8H time frame for analysis) (broker - Markets World)
    3. bet at 22.00 - expiry at 6.00 (8H time frame for analysis) (BROKER - NOT YET FOUND)
    4. bet at 22.00 - expiry at 22.00 the following day (1D time frame for analysis) (broker - Markets World).

    Basically, my plan is having a quick market overview a few minutes before 6.00, 14.00 and 22.00 with the intention of spotting clear signals and betting accordingly.

    Please let me know your thoughts and thank you in advance for any responses.
    Last edited by Lucas; 07-21-2013 at 11:26 PM. Reason: times clarification

  2. #2
    Solid Member boart's Avatar
    Have you looked at Betonmarkets yet? I have not been using them for more than a year but remember that their expiry is less restricted than most.

    Good Luck Man

    boart

  3. #3
    Solid Member
    As a new trader, I am using some indicators to make my analysis. I have been trying to understand price action strategy for so long. It seems really tough for me to do mathematics with price action. Well, now let me understand from your thread so that I can use price actions strategy as well.

  4. #4
    Solid Member boart's Avatar
    Hi Crimson

    You don't need to do the maths. Price Action is not a definite science IMHO. Some peeps use candlestick pattern recognition, others pin bars or inside bars. The moment you start using lagging indicators you are looking at price after it happened. Indicators helps to give you an overall view of a pair's trend over a specific period depending on the Time Frame you are looking at. Personally I would look at 3 things....Fundamentals (news releases), that gives you a good indication of volatility in the market, then Currency Strength, and lastly Support & Resistance over all the time frames. I look at how price reacts to the different S&R levels. No indicators at all, which to my mind is price action.

    KISS comes to mind...and more important than the charts...Money Management. The main thing is, different strokes for different folks....some people trade with indicators and it works for them others don't and their strategy works for them. If you are taking trades and they keep on going in the other direction, turn your monitor upside down! (joking), point is, if that works for you then that is what you do.

    It's all about patience and perseverance.

    Oops: hope im not hijacking Lucas's thread here... Get carried away sometimes lol

  5. #5
    Legendry Member Michael Hodges's Avatar
    I don't know if there is any one broker that offers what you are looking for. Anyoption is good for expiry and so is 24Option, 24option doesn't have an option builder feature but Anyoption does. Another broker I have just reviewed recently was TopOption. They have a full list of expiry and an option builder feature. I have a question for you though. What time zone are you in? are your times based on U.S eastern time?

  6. #6
    Rookie Member
    Help for Traders:

    http://4bb2c2khumm4ilbco8piud3j92.ho...et/?tid=BINARY OPTIONS (274.72)
    Last edited by Dario; 07-22-2013 at 03:36 PM.

  7. #7
    Moderator Kolyo's Avatar
    Hi Dario,

    This thread is not the place to post your signal promotional link. If you want to advertise your service it is allowed in CommuniTraders forum, but you should do it in the right place Forum > Suggest and Promote > Introducing Binary Options Businesses

  8. #8
    Specialist Member marvel's Avatar
    Quote Originally Posted by boart View Post
    Hi Crimson

    You don't need to do the maths. Price Action is not a definite science IMHO. Some peeps use candlestick pattern recognition, others pin bars or inside bars. The moment you start using lagging indicators you are looking at price after it happened. Indicators helps to give you an overall view of a pair's trend over a specific period depending on the Time Frame you are looking at. Personally I would look at 3 things....Fundamentals (news releases), that gives you a good indication of volatility in the market, then Currency Strength, and lastly Support & Resistance over all the time frames. I look at how price reacts to the different S&R levels. No indicators at all, which to my mind is price action.

    KISS comes to mind...and more important than the charts...Money Management. The main thing is, different strokes for different folks....some people trade with indicators and it works for them others don't and their strategy works for them. If you are taking trades and they keep on going in the other direction, turn your monitor upside down! (joking), point is, if that works for you then that is what you do.

    It's all about patience and perseverance.

    Oops: hope im not hijacking Lucas's thread here... Get carried away sometimes lol

    The Lucas strategy is something very interesting and needs to be tested thoroughly with patience. Indeed you are right BoArt that Price Action is not a complicated science with a lot of equations but a simple depending on your experience gained from many hours screen time to spot the best trading opportunities and to trade accordingly. And than the Money Management comes. It is the final building block of successful and low risk trading venture.

  9. #9
    Rookie Member
    You're awesome Guys and thanks a lot for your contribution.

    I'm moving into a new property at the moment and temporarily don't have access to the Internet. That should be fixed within a few days so I'll reply then.

  10. #10
    Senior Member raymond09's Avatar
    That is so Good of you. But for me, I don't use Price Action Strategy. My strategy is about analyzing Candlestick chart pattern. It gives me proper signal to do my trade. Support and Resistance point help me to place my order easily.

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