The second trade won with a little help. I joined a live trading group, and the host called out a breakout trade on the Eur/Usd, so I thought I would try a 30 minute expiry on it. I won by a lot of pips!! It is small, but there is a green arrow on my entry candle, a green checkmark on the expiring candle, and a thin green line for my strike price. This is my first week using MW on MT4. I have been using that group for about a week, and trading on my spot forex account. This was the first trade I took on MW from them. I think I will start using the group for my MW trading more often!!
Oct 02, 22:00:47 EUR/USD 1.36020 1.36160 Oct 02, 22:30:00 $4.00 70% $6.80
Nice mate!Longer expiry time, more accurate results. Do you trade on Nadex except MW?
I have a Nadex demo account right now. I have a real money account on MW. I am embarrassed to say that I had money on Nadex, but lost it in a week. I am back to demo until I feel more confident on Nadex, as there are so many different ways to trade. I am finding out my niche strategy for Nadex at the moment.
Here is a winning trade on Nadex today. I traded a spread on gbp/jpy. The spread range was 156.00-158.60. I sold it at 158.17. The option expired at 3pm, well into the money. I took the trade based on the %R dropping a nice angle, and price breaking across the pivot point. I felt that it would have the momentum to close below the pivot because the %R was dropping so easily. Sell 10/03/13 07:32:12 1 GBP/JPY 156.00-158.50 (3PM) @ 158.17 $-33.00 Fee Payment 10/03/13 07:32:12 1 GBP/JPY 156.00-158.50 (3PM) @ 158.17 $-0.90 Settlement Payout 10/03/13 15:00:18 1 SHORT GBP/JPY 156.00-158.50 (3PM) @ 158.17 $135.00 Fee Payment 10/03/13 15:00:18 Expiration Fee: 1 SHORT GBP/JPY 156.00-158.50 (3PM) @ 158.17 $-0.90
Starting my Friday off with a bang...I caught a quick hitter on EurUsd this morning. I was watching the downtrend. It retraced to the 23.6 fib. The fib level acted as resistance and price started to fall. I had confluence on the %R so I took a 6 min expiry contract on MW. Winner.. Enjoy the weekend everyone! Oct 04, 07:24:24 EUR/USD 1.35953 1.35893 Oct 04, 07:30:00 $5.00 80% $9.00
Today I have a win from trading a higher time and news. I have an 8 hour chart I used to enter this trade. It is on my spot forex account platform, and I cannot save the image, so I have a 4hr chart from MT4 to show the entry and exit candles. I wish MT4 had 8 hr charts. I was listening to news this morning about Yen strength, and found an established bear trend on USD/JPY that had broken down through psychological support at .9700. I entered the trade just before I left for work at 8AM, and it expired at 4:55 pm est. It was a nice set and forget trade. Oct 07, 07:52:14 USD/JPY 96.873 96.700 Oct 07, 16:55:00 $15.00 72% $25.80
I just can't leave the short expiry times alone. I snuck in a quick one here at a nice 89% profit. Thanks MW. I watched this one for a good 10 minutes straight to see if the candle would keep dropping as the %R crossed below the -50. It did, and I took the trade and won. Oct 08, 22:23:46 USD/CAD 1.03704 1.03701 Oct 08, 22:30:00 $10.00 89% $18.90
OUCH! I took one on the chin tonight. Minutes after I entered this trade I think a secret news announcement came out. Price shot up like a rocket, and I lost. But I took a 45 minute position on Aud/Usd, and that is dropping in my favor. I will post that result in the morning. For now, just the chart of the freak price action that ruined my 5 minute trade...
Oct 09, 22:02:17 USD/JPY 97.598 97.657 Oct 09, 22:10:00 $10.00 75% $17.50 (lost)
Great news! The AUD/USD trade I mentioned in the previous post won by a ton! It was about a 45 minute expiry option on MW. Price was dropping on all the timeframes...
Oct 09, 22:48:00 AUD/USD 0.94124 0.94046 Oct 09, 23:30:00 $10.00 70% $17.00
Did you ever have a moment in your life where you wondered what you were thinking a month ago. I mean, I just don't understand how I got so far off track from my original trading strategy. This morning a I nailed a perfect trade according to ALL of my original rules. Just to recap, they are... Step 1: Watch for the %R to enter the overbought or oversold area, which is above -20 or below -80. Step 2: Then I look for my SMA's to cross over. Step 3: Double check S/R levels to make sure the reversal has room to run. Step 4: Enter the trade and get paid! I am taking 30 minute expiry options, and trading off of the 5 minute chart. Sometimes I jump up to the 15 minute to check the bigger trend, and then drop down to the 1 minute chart for a good strike price. Here is my winner today...
Oct 11, 08:01:57 USD/JPY 98.330 98.244 Oct 11, 08:30:00 $10.00 78% $17.80
I placed a perfect "set it and forget it" trade today. Price action and the %R were on the rise on USD/CAD. I took the 16:55 expiry option around 8:00, and it worked out great... The green line is my strike price, and the black line is the expired at price. Oct 15, 08:06:55 USD/CAD 1.03569 1.03781 Oct 15, 16:55:00 $20.00 85% $37.00 ITM
I got in too early tonight and got burned. I was anticipating a drop in price, my sma's had crossed over, and I jumped, and lost... Oct 16, 21:44:11 EUR/USD 1.35360 1.35420 Oct 16, 22:00:00 $30.00 90% $57.00 (OTM)
I was looking for a trade I could set up and hold overnight, because the short term stuff is just not moving enough for me right now. I found a head and shoulders pattern on the gbp/usd daily chart. I will check it in the morning, and maybe put an 8 hour expiry on. I tried to attach a picture, but the attach file button says "uploading" but the pic never shows up. Never had that problem before?
I woke up to gbp/usd rising, so I didnt take a long term trade there. Not sure how high it will go. I did take a short trade on usd/jpy. Worked out great. I plan on studying pinbars this weekend. I really want to become a smarter trader by reading price action. Oct 18, 08:09:18 USD/JPY 97.736 97.728 Oct 18, 08:15:00 $10.00 72% $17.20
Tuesday was a wild day with the NFP news. I was a little under the weather this morning, and did not get any trades set up. I did,however grab this trade before bedtime. Just a quickie from the 5 min charts. Oct 22, 23:07:05 EUR/GBP 0.84870 0.84866 Oct 22, 23:15:00 $5.00 90% $9.50
I found a very nice bounce off of support for a long trade on GBP/USD. I took the option that expires at 5 pm EST. I just wanted to give the trade room to develop, and it went very well in my direction. Entry at red arrow, black line for strike price,and check mark for the closing winning candle.. Oct 23, 07:47:30 GBP/USD 1.61490 1.61658 Oct 23, 16:55:00 $9.00 70% $15.30
Tonight I was trying something new with my Nadex demo account. It's called "Premium Collection". It's a strategy that will only work on Nadex. Basically you buy an option that is winning and has under a half hour until expiry. This gbp/jpy had nice bearish pressure when I entered. The bulls started pushing price up in the final minutes, but it expired at 23:00 in my favor... Your position in the GBP/JPY >157.60 (11PM) contract was settled on Thu Oct 24 23:00:13 EDT 2013. The details of your settled position are shown below for your reference:
Today was my very first trade on Gold. My %R system lead me to a winning trade...with a breakdown across support, and a bounce off of -50 Oct 25, 07:14:13 GOLD 1339.16 1338.36 Oct 25, 07:20:00 $10.00 70% $17.00
I have been studying price action a lot lately. I am shifting over to trading without indicators, and using longer timeframes like the 4hr and daily charts. Today I traded a 16:55 expiry contract on MW. I found a pinbar on Eur/Usd. Pinbars often indicate that price will be moving in the opposite direction of the "pin", or long wick of the candle. My entry price is shown by the red horizontal line. The expiry price is shown by the black line. Oct 29, 08:10:42 EUR/USD 1.37585 1.37472 Oct 29, 17:55:00 $6.00 79% $10.74
I found another pin bar trade today. I opened an option on Nadex at 8am, expire time at 3 pm. It worked out great. Your position in the USD/CAD >1.0460 (3PM) contract was settled on Wed Oct 30 15:00:41 EDT 2013. The details of your settled position are shown below for your reference:
Gold was good to me today. Here is a chart of a winning trade I took on Nadex. Price was falling, and I placed the trade around 7:20 am. The expire time was 1:30 pm. Your position in the Gold (Dec) >1337.0 (1:30PM) contract was settled on Thu Oct 31 13:30:02 EDT 2013. The details of your settled position are shown below for your reference:
I am experimenting with different strategies for my morning and evening trading sessions. I am going to trade the 5 min charts in the morning, and 4 hr charts in the evening, after work. I am testing a new system on the 5 min charts. Basically, it gives you an alert arrow. When the alert arrow appears on the chart (light blue), you have to watch for the trade to set up within the next 1 or 2 candles. Then, check the indicator at the bottom of the screen to see the yellow line separating from the red line. And lastly, check for support and resistance. I took 6 trades today. I won 4, 1 trade was a draw, and 1 trade lost. 3 of the trades were with the Aud/Usd, so to save time I numbered them all on one chart to show the way it works. Trades #1 and 2 were "call" trades and won. The #3 trade was a "put" and lost, and when I took it, I should have waited to see that the up trend was really over by watching for the candle to close. I jumped in early, and the up trend continued. I also goofed up because the system DID NOT give me a light blue "down" arrow indicating a "put" trade was on the way. Had I waited, you can see the alert arrow appeared very soon after trade #3 expired. If I would have placed a put option there, it would have been ITM easily. Overall, I really like the strategy so far. I will test it a few more days before using real money.
#1 Nov 01, 06:23:59 AUD/USD 0.94658 0.94661 Nov 01, 06:30:00 ¢10.00 79% ¢17.90 (itm)
#2 Nov 01, 06:26:25 AUD/USD 0.94660 0.94711 Nov 01, 07:00:00 ¢10.00 80% ¢18.00 (itm)
#3 Nov 01, 07:25:29 AUD/USD 0.94727 0.94767 Nov 01, 07:35:00 ¢10.00 81% ¢18.10 (otm)
Wow its so great to see you are doing well - one day you will quit your job and make money by trading. I can see it.
Thank you for the encouraging words!! Are you a full time trader?
Not by choice - had to give up my job recently and I am now standing at a crossroad so to speak - I will try for the next few month and if it does not work out I ll get back to another job.
Wow its so great to see you are doing well - one day you will quit your job and make money by trading. I can see it.
Thank you for the encouraging words!! Are you a full time trader?
Not by choice - had to give up my job recently and I am now standing at a crossroad so to speak - I will try for the next few month and if it does not work out I ll get back to another job.
I wish you the best on your journey to trading success. One thing I will say, it might not be easy to trade "under pressure". Take the time to work on your mindset everyday. Don't force trades that just aren't there. That can happen when you feel like you need to make "X" amount of trades or money per day.
I only had enough time to take two trades this morning. 1 itm, and 1 otm.
The otm was on gold. The very next candle after my expiry candle would have been a winner, go figure.... Nov 04, 08:12:27 GOLD 1319.12 1319.18 Nov 04, 08:30:00 ¢10.00 70% ¢17.00 OTM
And my winning trade was on GBP/USD. If I would have had more time to trade, you can see multiple winning indicator arrows posted in light blue for 20-30 minute expiry options. Nov 04, 08:10:21 GBP/USD 1.59698 1.59696 Nov 04, 08:30:00 ¢10.00 75% ¢17.50 itm
Tuesday trading results= 2 out of 3 winners. I am leaning toward the 6-10 min expiry times for my trades. The trade that I lost today would have been a winner had I chosen the shortest expiry time. Instead I took a 25 minute expiry. You can see in the chart that price moved easily into my favor for a few candles, but halfway through my 25 minutes, price moved against me and expired OTM. Nov 05, 06:36:16 USD/JPY 98.285 98.317 Nov 05, 07:00:00 $5.00 75% $8.75 OTM
Comments
I have been using that group for about a week, and trading on my spot forex account. This was the first trade I took on MW from them. I think I will start using the group for my MW trading more often!!
Oct 02, 22:00:47 EUR/USD 1.36020 1.36160 Oct 02, 22:30:00 $4.00 70% $6.80
I sold it at 158.17. The option expired at 3pm, well into the money. I took the trade based on the %R dropping a nice angle, and price breaking across the pivot point. I felt that it would have the momentum to close below the pivot because the %R was dropping so easily.
Sell 10/03/13 07:32:12 1 GBP/JPY 156.00-158.50 (3PM) @ 158.17 $-33.00
Fee Payment 10/03/13 07:32:12 1 GBP/JPY 156.00-158.50 (3PM) @ 158.17 $-0.90
Settlement Payout 10/03/13 15:00:18 1 SHORT GBP/JPY 156.00-158.50 (3PM) @ 158.17 $135.00
Fee Payment 10/03/13 15:00:18 Expiration Fee: 1 SHORT GBP/JPY 156.00-158.50 (3PM) @ 158.17 $-0.90
Enjoy the weekend everyone!
Oct 04, 07:24:24 EUR/USD 1.35953 1.35893 Oct 04, 07:30:00 $5.00 80% $9.00
Oct 07, 07:52:14 USD/JPY 96.873 96.700 Oct 07, 16:55:00 $15.00 72% $25.80
I watched this one for a good 10 minutes straight to see if the candle would keep dropping as the %R crossed below the -50. It did, and I took the trade and won.
Oct 08, 22:23:46 USD/CAD 1.03704 1.03701 Oct 08, 22:30:00 $10.00 89% $18.90
Oct 09, 22:02:17 USD/JPY 97.598 97.657 Oct 09, 22:10:00 $10.00 75% $17.50 (lost)
Oct 09, 22:48:00 AUD/USD 0.94124 0.94046 Oct 09, 23:30:00 $10.00 70% $17.00
This morning a I nailed a perfect trade according to ALL of my original rules. Just to recap, they are...
Step 1: Watch for the %R to enter the overbought or oversold area, which is above -20 or below -80.
Step 2: Then I look for my SMA's to cross over.
Step 3: Double check S/R levels to make sure the reversal has room to run.
Step 4: Enter the trade and get paid! I am taking 30 minute expiry options, and trading off of the 5 minute chart. Sometimes I jump up to the 15 minute to check the bigger trend, and then drop down to the 1 minute chart for a good strike price.
Here is my winner today...
Oct 11, 08:01:57 USD/JPY 98.330 98.244 Oct 11, 08:30:00 $10.00 78% $17.80
Have a great weekend!!!!
The green line is my strike price, and the black line is the expired at price.
Oct 15, 08:06:55 USD/CAD 1.03569 1.03781 Oct 15, 16:55:00 $20.00 85% $37.00 ITM
Oct 16, 21:44:11 EUR/USD 1.35360 1.35420 Oct 16, 22:00:00 $30.00 90% $57.00 (OTM)
I tried to attach a picture, but the attach file button says "uploading" but the pic never shows up. Never had that problem before?
Oct 18, 08:09:18 USD/JPY 97.736 97.728 Oct 18, 08:15:00 $10.00 72% $17.20
Oct 22, 23:07:05 EUR/GBP 0.84870 0.84866 Oct 22, 23:15:00 $5.00 90% $9.50
Oct 23, 07:47:30 GBP/USD 1.61490 1.61658 Oct 23, 16:55:00 $9.00 70% $15.30
This gbp/jpy had nice bearish pressure when I entered. The bulls started pushing price up in the final minutes, but it expired at 23:00 in my favor...
Your position in the GBP/JPY >157.60 (11PM) contract was settled on Thu Oct 24 23:00:13 EDT 2013. The details of your settled position are shown below for your reference:
Settlement Details:
Contract: GBP/JPY >157.60 (11PM)
Quantity: -2
Expiration Value: 157.558
Payout Amount: $200
Oct 25, 07:14:13 GOLD 1339.16 1338.36 Oct 25, 07:20:00 $10.00 70% $17.00
Today I traded a 16:55 expiry contract on MW. I found a pinbar on Eur/Usd. Pinbars often indicate that price will be moving in the opposite direction of the "pin", or long wick of the candle.
My entry price is shown by the red horizontal line. The expiry price is shown by the black line.
Oct 29, 08:10:42 EUR/USD 1.37585 1.37472 Oct 29, 17:55:00 $6.00 79% $10.74
Your position in the USD/CAD >1.0460 (3PM) contract was settled on Wed Oct 30 15:00:41 EDT 2013. The details of your settled position are shown below for your reference:
Settlement Details:
Contract: USD/CAD >1.0460 (3PM)
Quantity: 1
Expiration Value: 1.04776
Payout Amount: $100
Are you a full time trader?
Your position in the Gold (Dec) >1337.0 (1:30PM) contract was settled on Thu Oct 31 13:30:02 EDT 2013. The details of your settled position are shown below for your reference:
Settlement Details:
Contract: Gold (Dec) >1337.0 (1:30PM)
Quantity: -1
Expiration Value: 1323.540
Payout Amount: $100
Your positions and account balance have been updated accordingly.
I took 6 trades today. I won 4, 1 trade was a draw, and 1 trade lost.
3 of the trades were with the Aud/Usd, so to save time I numbered them all on one chart to show the way it works. Trades #1 and 2 were "call" trades and won. The #3 trade was a "put" and lost, and when I took it, I should have waited to see that the up trend was really over by watching for the candle to close. I jumped in early, and the up trend continued. I also goofed up because the system DID NOT give me a light blue "down" arrow indicating a "put" trade was on the way. Had I waited, you can see the alert arrow appeared very soon after trade #3 expired. If I would have placed a put option there, it would have been ITM easily.
Overall, I really like the strategy so far. I will test it a few more days before using real money.
#1 Nov 01, 06:23:59 AUD/USD 0.94658 0.94661 Nov 01, 06:30:00 ¢10.00 79% ¢17.90 (itm)
#2 Nov 01, 06:26:25 AUD/USD 0.94660 0.94711 Nov 01, 07:00:00 ¢10.00 80% ¢18.00 (itm)
#3 Nov 01, 07:25:29 AUD/USD 0.94727 0.94767 Nov 01, 07:35:00 ¢10.00 81% ¢18.10 (otm)
Take the time to work on your mindset everyday. Don't force trades that just aren't there. That can happen when you feel like you need to make "X" amount of trades or money per day.
The otm was on gold. The very next candle after my expiry candle would have been a winner, go figure....
Nov 04, 08:12:27 GOLD 1319.12 1319.18 Nov 04, 08:30:00 ¢10.00 70% ¢17.00 OTM
Nov 04, 08:10:21 GBP/USD 1.59698 1.59696 Nov 04, 08:30:00 ¢10.00 75% ¢17.50 itm
Nov 05, 06:36:16 USD/JPY 98.285 98.317 Nov 05, 07:00:00 $5.00 75% $8.75 OTM
Nov 05, 07:09:23 AUD/JPY 93.6000 93.5785 Nov 05, 07:15:00 $5.00 70% $8.50 ITM
Nov 05, 07:07:43 AUD/USD 0.95249 0.95216 Nov 05, 07:15:00 $10.00 75% $17.50 ITM