Binary 500 12/05/2013 Posted on December 5, 2013 by swing4it Balance 771.80 7 trades 5 Wins Join the Fun http://binaryoptionmania.com Share this:TwitterFacebookLike this:Like Loading...
Busy with too many things and did not see your question until now as I finally had a chance to follow up on your progress. I notice that, as of the last update, the account balance here had slipped somewhat.
I have had a Nadex demo account the last couple of weeks so that I could better analyze the approach taken by Dutch and Butch. From long experience, I am not so keen on the high risk low return type of trade, though I understand the attraction. It usually leads to many small gains more than offset by a few large losses. My review of your experience seems to bear that out. Controlling losses has definitely been an issue for those in the room. I doubt that anyone is matching the performance of those fastest on the trigger at recognizing a trade going wrong. The portion of my paper account has certainly not been doing as well as Dutch’s reported performance. It looks much more like your account than his. The novice, of course, always has himself to blame rather than the master’s art.
With real money, I have been trading the European binaries on a one lot basis. Although these trade on half-hour strikes, by their nature they do not lend themselves to the “buy below/sell above” the expiring hourly strike strategy used in the room. One is rather forced into catching swing lows or highs, or identifying trending markets…the more usual activity of a day trader. In the longer term, I thing this will also be the most rewarding use of the binaries as well.
In the other part of my Nadex demo account, I have been using my usual strategy of identifying swing lows throughout the day and buying the nearest strike in the end of day series. This changes the risk reward profile quite dramatically, while reducing the number of trades in any one market. Potential profits are higher and the theoretical loss much lower. So far this has produced better results for me.
Again, thanks for taking the time to post your work.
I have to comment on today. We had 2 trades that moved real fast against us. In the future we need to have a little more of a cushion on the stops. Also could have started trading an 8 lot today but held off. Glad I did. NEXT TRADE as we say.
Thanks for sharing your work. It is a kindness for those of us from outside the US who are in the room without the advantage of seeing the NADEX platform perform.
My pleasure. How is the trades going with the Binaries you are working?