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  1. #1
    Administrator Martin Kay's Avatar

    Hot Tip from the Geek - SP500, DAX, EUR/USD Weekly Expiry - 10/14-21/2013 !!!

    The new Top Five Tips of the week from Michael are here. Check them out and find which are the best binary trading ideas for this week. Test them on CommuniTraders!


    Originaly posted by Michael Hodges.


    U.S. Markets Surge On Debt Ceiling

    S&P 500
    Call/Put = Call
    Entry = Below 1690
    Expiry = One Week

    The S&P 500 surged nearly 3% last week along with the rest of the major U.S. indices. The relief caused by an apparent thawing of partisan politics and a move forward in the debt ceiling was the catalyst. The biggest risk to the markets now is a potential default of U.S. credit, with that off the table traders can look to the longer term trend and earnings. So far earnings season has been pretty good and should continue that way. So long as the debt ceiling gets raised and the U.S. can continue to function the markets should keep moving higher.

    At this time the S&P 500 is bouncing up off the long term trend line. Last week’s move took the index back up above long term support and the short term moving average, where it is now. On the daily charts MACD and stochastic are both firing a buy signal and the historical analysis suggests that support is growing along the trend line. Longer term indications are still mixed but there is no sign of reversal. I am trading a call on the S&P 500 with a target entry below 1690 and one week until expiry.



    DAX Moving Higher

    DAX
    Call/Put = Call
    Entry = Below 8700
    Expiry = One Week

    The DAX has been moving higher, supported by improving economic conditions in the EU, Asia and the U.S. The current U.S. political situation has put pressure on the index but the longer term trend is still up. The DAX is sitting on a short support and trading near record highs. The current bearishness is alleviating overbought conditions in the near term and providing a good entry point. This index will snap back along with the S&P once the debt ceiling issues are laid to rest. I am trading a call on the DAX with a target entry below 8700 and one until expiry.



    Euro Trading Near Top Of Range

    EUR/USD
    Call/Put = Put
    Entry = Above 1.3575
    Expiry = One Week

    The EUR/USD has been trading near the top of a long term range for nearly a month now. The debt ceiling problem put some pressure on the dollar but I think that is a short term problem. On the daily charts this pair is showing some significant divergences that I think will result in some serious downside, once the debt ceiling is averted, again. I am trading a put on this pair with one week until expiry and a target entry above 1.3575.


  2. #2
    Legendry Member Michael Hodges's Avatar
    I am tired of the shut down, tired of hearing about it, writing about it talking about it. . . those meatheads need to get it together and move forward. This crap is making the markets crazy, just look at yesterday's wild trading. Each time a bit of info came out the markets moved anywhere from 5 to 12 points in the opposite direction of where it had been before. Last night the futures were down about 1% because of the credit watch downgrade, now they are up a half percent...
    Ok, now I'm done. Back to watching the longer term trends, which are still up by the way....

  3. #3
    Legendry Member Michael Hodges's Avatar
    I was just checking the Geek account over at CT and noticed that I have 11 open trades currently.....11 are in the green! This may change at the drop of a hat but at least for now they are all winners. Part of my strategy is to have a lot of trades open, or to at least make a lot of trades, small trades, so that no one trade can kill my account. I know that over the long term I can win at least 55% of the time, more like 65% usually. By keeping the trades small I can trade more often which helps me remain profitable.
    Click image for larger version. 

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  4. #4
    Administrator Martin Kay's Avatar
    Quote Originally Posted by Michael Hodges View Post
    I was just checking the Geek account over at CT and noticed that I have 11 open trades currently.....11 are in the green! This may change at the drop of a hat but at least for now they are all winners. Part of my strategy is to have a lot of trades open, or to at least make a lot of trades, small trades, so that no one trade can kill my account. I know that over the long term I can win at least 55% of the time, more like 65% usually. By keeping the trades small I can trade more often which helps me remain profitable.
    Click image for larger version. 

Name:	ten open trades CT 10-15-2013.jpg 
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    Cheers friend, you've been doing great lately(: green = greens$$$! As one of our members here said before, and I quote- may you'll always be in the money

  5. #5
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Quote Originally Posted by Michael Hodges View Post
    I was just checking the Geek account over at CT and noticed that I have 11 open trades currently.....11 are in the green! This may change at the drop of a hat but at least for now they are all winners. Part of my strategy is to have a lot of trades open, or to at least make a lot of trades, small trades, so that no one trade can kill my account. I know that over the long term I can win at least 55% of the time, more like 65% usually. By keeping the trades small I can trade more often which helps me remain profitable.
    Click image for larger version. 

Name:	ten open trades CT 10-15-2013.jpg 
Views:	7 
Size:	22.8 KB 
ID:	963
    One of ur Gold positions turned red.
    But current price is very close to open price so it may turn back green soon.

  6. #6
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by M.J View Post
    One of ur Gold positions turned red.
    But current price is very close to open price so it may turn back green soon.
    So did my gold trade and my eur trade, but i'm still doing pretty good at the moment. Most of my trades at the moment are longer term as in one month expiry so most of them still have 2-3 weeks left until expiry.

  7. #7
    Veteran Member hchandra's Avatar
    Nice looking screen shot, greenish, I think there are good chance the "Turned red" will turn back in green.
    Market surely in yo yo mode, jumping up jumping down this week, hard to guess but most of the pair traded seems near Long term key level

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