How to Become Good Option Trader?

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Comments

  • pantherpanther Posts: 33

    hi shaun i am very intersted in trading would you help me to understand singnal and tending.. i am new i just apply ema5,ema8,ema15..

    This is really good stuff from shaun. I use ema too but am still learning.
  • ShaunRShaunR Posts: 56

    hi shaun i am very intersted in trading would you help me to understand singnal and tending.. i am new i just apply ema5,ema8,ema15..

    @hemantpremi - how may I help you? I understand that you are using EMA 5, 8 and 15 ... have you been through the strategy I have shared in this thread? Have you added the SuperWoodies CCI?

    Thanks
    Shaun
  • ShaunRShaunR Posts: 56
    edited February 11
    panther said:

    This is really good stuff from shaun. I use ema too but am still learning.

    @panther - thank you for your kind words. Please let me know if you have questions regarding this pull back strategy?

    Shaun
  • ShaunRShaunR Posts: 56
    Hi All

    Quick edit to the settings of the 3 EMAs as posted in the Candle Pull Back strategy I posted in this thread...

    Please note, in order to get the best results, the settings of the EMAs are 3,5 and 8 NOT 5, 8 and 15 as originally posted.

    @pavelK - thanks very much for picking this up.

    If anyone else has additional questions please ask.

    Thanks
    Shaun
  • paveljablonpaveljablon Posts: 102
    Great work Shaun!

    Stuff like this is good for this forum, keep it up :). Certain notorious affiliate marketers could learn a thing or two from this.

    Pavel
    Transparent Binary Options trader and former floor trader. Now giving signals to help people safely to make money at Signal Hive Please do not contact me to manage your account, I will never take anyone's money. You can see my live performance on Signal Hive and subscribe to me there.
  • The_KnickThe_Knick Posts: 15
    Just finished reading and I'm more than impressed! Very rarely I've read something so interesting and well explained about binary options in the entire internet. Way to go Shaun!
    Hi, I'm The Knick and I am a binary options trader. I like using a slow and steady, low volume approach to trading. I usually fire 1-2 signals at late night and some occasional Core trades during the day. You can see my entire trade history with real data and subscribe to my service on Signal Hive.
  • ShaunRShaunR Posts: 56
    @paveljablon and @The_Knick - thank you gents, appreciate your feedback.
  • The_KnickThe_Knick Posts: 15
    pavelK said:

    @ShaunR Hello!

    As a three months old trader struggling to be profitable, I extremely appreciate every piece of advice you have shared with everybody here.

    I do not know if there are any more lectures coming or not (it would be awesome), but I have two questions so far.

    1.
    I use Binary.com (demo). However, when the price expires ATM, Binary.com takes it as a loss and that sux. So, my question is what is the broker you use? I can see from the picture of your trading history that the payout is as about the same as with Binary.com, but I also see that your broker doesn't take expiration ATM as a loss, and its interface looks more appealing to me than that of Binary.com. I've already tried to find out what broker it is that you use, but unsuccessfully. So if you don't mind sharing that information, I'd love to check the broker out.

    2.
    My second question is about the trading strategy which you've introduced to us. Could you share some more info if it ain't secret?? :smiley: For example, I wonder if you use some more indicators than just the three EMA's. ADX with DMI for example, to tell you the strength of the moves or AO to spot divergences? Or do you have any conditions/any warning signals under which you do not enter a trade? Also, as the price of the asset moves, all of the three EMA's obviously move with it, so as I trade, it isn't that usual for the price to actually touch the middle 8 period EMA ,but when I look again at your trading history, you enter trades quite often, and therefore, I was wondering if you don't actually enter trades even before it touches the middle EMA (e.g. price between 5 period EMA and 8 period EMA= valid entry). Because then, as the price moves with the trend, the EMA's do so too, which causes the candle (previously invalid trade entry under the 8 period EMA) to actually be a valid trade because it now touches the moved-with-a-trend-middle EMA, but it's too late to enter a trade as the price has already moved.

    I hope I make some sense :smiley:. I just want to know as much as possible about this strategy, since I like this style of trading. I think that asking somebody who uses this strategy and already knows what works and what not, can save weeks if not months of testing.

    Thank you for sharing your knowledge with us!

    God bless, I'm out.

    Could you answer the second point of PavelK? I think it's very interesting and I've always wondered this about people that trade the MAs. Perhaps you got confused a few posts ago cause you thought he was telling that the price has to touch the furthest MA, but he actually meant the second one. You changed order of colours (switched blue and purple in the later screen) so that may be confusing to who reads :)
    Hi, I'm The Knick and I am a binary options trader. I like using a slow and steady, low volume approach to trading. I usually fire 1-2 signals at late night and some occasional Core trades during the day. You can see my entire trade history with real data and subscribe to my service on Signal Hive.
  • EntropyEntropy Posts: 2
    Very good ShaunR advice, it is interesting to read these things.
  • ShaunRShaunR Posts: 56
    edited February 20
    The_Knick said:



    Could you answer the second point of PavelK? I think it's very interesting and I've always wondered this about people that trade the MAs. Perhaps you got confused a few posts ago cause you thought he was telling that the price has to touch the furthest MA, but he actually meant the second one. You changed order of colours (switched blue and purple in the later screen) so that may be confusing to who reads :)

    Hello The_Knick

    Yes, my apologies for changing the colours of the moving averages - it was in error and not my intention.

    I have been back to pavelK and explained the situation.

    I posted this particular strategy as a way for beginners to learn self-discipline by waiting patiently for good entries. However, my live trading template has evolved quite radically since and today I use a very different approach, which is now a combination of trading with the trend plus taking reversal entries, under the correct conditions. The comments from pavelK, regarding the frequency of my trades, is a reflection of my latest template and not the original pull back approach.

    I know my response is not very useful for you, but there are far more effective ways to trade, once a beginner has developed the experience and self-control. From your ITM stats on the Hive, I know that you are light years beyond this too. :smile:

    Thanks
    Shaun
  • ShaunRShaunR Posts: 56
    Entropy said:

    Very good ShaunR advice, it is interesting to read these things.

    Thank you for your feedback Entropy
  • The_KnickThe_Knick Posts: 15
    ShaunR said:

    The_Knick said:



    Could you answer the second point of PavelK? I think it's very interesting and I've always wondered this about people that trade the MAs. Perhaps you got confused a few posts ago cause you thought he was telling that the price has to touch the furthest MA, but he actually meant the second one. You changed order of colours (switched blue and purple in the later screen) so that may be confusing to who reads :)

    Hello The_Knick

    Yes, my apologies for changing the colours of the moving averages - it was in error and not my intention.

    I have been back to pavelK and explained the situation.

    I posted this particular strategy as a way for beginners to learn self-discipline by waiting patiently for good entries. However, my live trading template has evolved quite radically since and today I use a very different approach, which is now a combination of trading with the trend plus taking reversal entries, under the correct conditions. The comments from pavelK, regarding the frequency of my trades, is a reflection of my latest template and not the original pull back approach.

    I know my response is not very useful for you, but there are far more effective ways to trade, once a beginner has developed the experience and self-control. From your ITM stats on the Hive, I know that you are light years beyond this too. :smile:

    Thanks
    Shaun
    No worries at all, I just thought it was an interesting topic since I don't trade MAs very much but a lot of people do and I always wondered what they did in that kind of situation :)
    Hi, I'm The Knick and I am a binary options trader. I like using a slow and steady, low volume approach to trading. I usually fire 1-2 signals at late night and some occasional Core trades during the day. You can see my entire trade history with real data and subscribe to my service on Signal Hive.
  • crowdedbraincrowdedbrain Posts: 13

    When we want to trade in options or stock trading then what will matter is, how you stay in touch with the financial markets. I just want to know what are the perfect options to shine in binary options trading?

    I think this or any other forum about binary options is an answer to your question...
    did you forget to take your meds?
  • BossBoss Posts: 4
    It's nice when people share their experience and knowledge, especially for free. Lots of useful info, and it's all written in an easy to understand way. Now I can start applying the knowledge.
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