Trading the 5 min charts

124

Comments

  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    Hey BO do you have a live account with IQoption ? Being you are in the U.S. if they allowed you to open one that would be great...
  • bo_brownbo_brown Posts: 551 ✭✭
    edited April 2015
    After a distraction from my normal trading, I took a couple test trades to get ready for a full week of trading next week.
    One otm, one itm. Dust off the cobwebs, get my mind back in the game.

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  • bo_brownbo_brown Posts: 551 ✭✭
    It's Sunday night, and I'm feeling a little tired. I think I will take my one ITM and pack it in until the London session in the morning.

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  • mrsbearmrsbear Posts: 43
    Out of interest, Bo, why not go back over your screenshots and see if your losers would still have lost if you'd waited for the close of a reversal candle and for the Stoch to move out of overbought/oversold before entering the trade. When you're taking longer expiries as you are now, I think you can afford the luxury of waiting to make sure the price really is reversing.
  • bo_brownbo_brown Posts: 551 ✭✭
    Sharp observation! I was considering looking at that.
    When are you going to start a thread? How's your trading going so far?
  • bo_brownbo_brown Posts: 551 ✭✭
    Trendline break. Price and stoch dropped fast.

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  • bo_brownbo_brown Posts: 551 ✭✭
    I noticed a resistance line just below the upper bollinger band. I waited for the stochastic to drop below the green line. ITM

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  • mrsbearmrsbear Posts: 43
    bo_brown said:

    Sharp observation! I was considering looking at that.
    When are you going to start a thread? How's your trading going so far?

    Thanks Bo, kind of you to say so. Not confident enough to start my own thread yet but maybe in time. Am making definite progress and feel as though I'm starting to develop the attributes needed to become a proper trader (one of which is looking for reasons NOT to take a trade as opposed to jumping in at every half-baked opportunity). I'm still at the stage of making back my deficit as opposed to making money but I'll get there.
  • bo_brownbo_brown Posts: 551 ✭✭
    This trade I waited for the price to hit the 50 fib line and it was breaking through the trend line....but alas, the bulls marched on up...

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  • bo_brownbo_brown Posts: 551 ✭✭
    These two worked out much better...

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  • bo_brownbo_brown Posts: 551 ✭✭
    Price was rejected from this fib line earlier this morning, and it held price again. Bolinger Bands were leveled out. I really like to see that...

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  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    Nice what level are you on?
  • bo_brownbo_brown Posts: 551 ✭✭
    Welllllllllll.............

    I put my little MW bankroll into Nadex, and proceeded to lose it all down to .75
    I started over with MW this week. I will stay there until I can pull out 5 figures into my Oanda forex account. If I can stay out of my own way.
  • bo_brownbo_brown Posts: 551 ✭✭
    2 out of 3 this morning. You can't see it in the picture, but the OTM chart was winning until the very last minute. Price jumped around, burned my trade, then continued back in my favor when it was too late... no worries. Next!

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  • shajan901shajan901 Posts: 5
    HI Brown,
    this is shajan from india, are follow with 1 m or 5 m chart, and trade expire on 10 m or 15 m ? i expect ur valuble reply
  • bo_brownbo_brown Posts: 551 ✭✭
    shajan901 said:

    HI Brown,
    this is shajan from india, are follow with 1 m or 5 m chart, and trade expire on 10 m or 15 m ? i expect ur valuble reply


    5min charts. And I like about a 10 min expire time.
  • bo_brownbo_brown Posts: 551 ✭✭
    Tonight I found price dropping from the 50 fib line and stoch crossing down. ITM.

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  • bo_brownbo_brown Posts: 551 ✭✭
  • bo_brownbo_brown Posts: 551 ✭✭
    My entry candle was red, but I didnt wait for it to close, and entered the trade. It turned back to green. Expired 1 pipette OTM. The second picture shows how close I was to a winner. I had a good read on the chart, just entered one candle too soon. It happens.

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    shoulda-coulda-woulda

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  • bo_brownbo_brown Posts: 551 ✭✭
  • bo_brownbo_brown Posts: 551 ✭✭
  • shajan901shajan901 Posts: 5
    bo_brown,

    thanks for your valuable reply.. can u explain secured money management plan adopting in binary option trading.....
  • bo_brownbo_brown Posts: 551 ✭✭
    shajan901 said:

    bo_brown,

    thanks for your valuable reply.. can u explain secured money management plan adopting in binary option trading.....

    Only trade 5% or less of your balance in any one position.

  • shajan901shajan901 Posts: 5
    bo_brown,

    thanks for ur reply.. sir, what is difference between Forex trading and binary options trading.... which is the best ? as per ur experience... can u give more details about the above said topics.....
  • bo_brownbo_brown Posts: 551 ✭✭
    shajan901 said:

    bo_brown,

    thanks for ur reply.. sir, what is difference between Forex trading and binary options trading.... which is the best ? as per ur experience... can u give more details about the above said topics.....

    With Forex, you can lose your entire account balance if you do not monitor the trade, or set a stop loss. With Bin Opts, you are only risking the amount of the contract traded.
    It is up to you to find your personal preference.

  • bo_brownbo_brown Posts: 551 ✭✭
  • bo_brownbo_brown Posts: 551 ✭✭
  • shajan901shajan901 Posts: 5
    bo_brown,

    thnx for ur reply..... which is the best broker for binary trading in now days as per ur knowledge ?
  • bo_brownbo_brown Posts: 551 ✭✭
    shajan901 said:

    bo_brown,

    thnx for ur reply..... which is the best broker for binary trading in now days as per ur knowledge ?

    I would suggest opening a demo account with MarketsWorld. There is no time limit on how long you practice with their demo account.

  • bo_brownbo_brown Posts: 551 ✭✭
    This trade tonight, I was looking for a trend line breakdown, and then enter the trade thinking that price will drop at least to the yellow pivot line. And that is what happened.

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