bo_brown, can you share your rules for trading BO with Ichimoku? Thanks
Olvus, if you look at the screenshot from yesterday, you can see the cloud bottom to the left of price is flat, and is almost perfect with my entry red line. You can extend s/r lines out from the flat side of clouds, just make sure the other signs of ichimoku are working for you,too.
Next is Usd/Jpy. I lost the first trade, but entered the next candle and won. I only saved a screenshot of the winner. I jumped in one candle too soon. That happens too often. I need to fix that. I was breaking the trading rules of Trading Axis by trading into a big candle. I knew it was losing steam, but I should avoid candle spikes.
Congrats! Keep it up! I read your journal every day
Thanks so much for the kind words. I was watching a trade set up this morning on usd/cad, but about the time I wanted to enter, our puppy started acting up and distracted me. I missed the trade. It was getting close to news releases,too, so I went to work. No trades today.
Hi bo_brown. I lost my first deposit at 24open fault of my own - in one week I've make almost $650, but then I lost it all in one day due to gross violation of the principles of money management - risk no more than 5% of the deposit. Now I'm still just looking my way in binary options and train on a demo account. I went through more than 100 trading strategies and in my experience value chart straregy (your last screenshot) is the most accurate. This thread http://www.binaryoptionsdaily.com/forums/general-group2/trading-systems-forum9/mbfx-value-chart-remix-system-thread1604/ gave me a lot of knowledge. Wanted to give you one piece of advice (just do not think that I'm trying to teach you - just a friendly advice) - I think it's better to make trades when the candle reaches the line support - resistance + regression line + VC reached +8 -8 level. Look at screenshot what I mean: http://i.piccy.info/i9/6f41831ea43ee755c1c9d255c99b772a/1394260321/57821/711407/212cb98c3e83f0ecb37dadc856f99f.png Uff, i can't upload picture here. Sorry for my english. I wish you to reach your goal!
On the big spikes to help a little wait for it to break a prev high, if it does watch the PA on the 1min as it breaks it even check a ichi chart if you have a med or high prob trade on ichi and on TA chart its showing no sign of seeing the new high as resistance then stay out of TA trade.
Hope that makes sense, im doing an advanced TA / Ichi video this week ill shoot it over to you when done.
Next is Usd/Jpy. I lost the first trade, but entered the next candle and won. I only saved a screenshot of the winner. I jumped in one candle too soon. That happens too often. I need to fix that. I was breaking the trading rules of Trading Axis by trading into a big candle. I knew it was losing steam, but I should avoid candle spikes.
Bryan Mcafee Hit me up on skype at Brymcafee (McAllen TX) www.tradingaxis.com
I don't agree with your money management, using around 25% of your account balance on a single trade? Seems very high risk for a blow out if you catch one negative streak BOOM! Gone... 5% on a trade is very high and the amount of experience needed to trade such high amounts is extreme in both discipline and trading knowledge. Its about what you do in the long term in terms of consistency, you will always have up and down streaks all traders do. The professionals that grow their balances consistently over time are the ones that do this for a living not the pie in the sky all or nothing types, that is just GAMBLING fun to watch but in time 100% pointless... For me I am over 500% return which would be higher if it was not for focusing on my other accounts with larger funds and a few different money management formulas I have been working on, still 500% using 2-5% a trade even if not trading the account much still its growing nicely. My biggest difficulty is in the fact there is only one of me, if I could only clone myself then maybe I could give more of my time lol and trade more accounts... REMEMBER THIS "By being consistent overall your trading will not be exciting even down right boring, but slowly inch by inch your account grows like a SNOWBALL and in time you realize OMG the account is that big now! All from small little steps inch by inch, maybe 2 forward and 1 back maybe 2 back 3 forward maybe 3 forward 1 back, in the end slow and steady bigger and BIGGER AND BIGGER!!!" Results don't lie, you BLEW the last account and that will happen to most using such high leverage daily.. All you need is one BAD STREAK and all that work gone... This is why in my videos I talk about money management a great deal and rules and limits ect ect... I do this for a successfully for a living, not because I am a better trader then most or have magic ALGOs even if I do but rather because I see everything as probabilities/statistics approach the trading not as winning or losing but rather with an OBJECTIVE DISCIPLINED point of view... The market provides me with a LIVING and I can't afford to be RETARDED...
I agree with you lotz. I am just doing a personal challenge with myself, just to see if I can get to $1000. At that point, I will start using a lower percent per trade. I realize it will be tricky. And if I have to restart again at another $20 before summer, I will. Otherwise, if I get to the middle of summer, and havent reached my goal, I will just deposit $1000 and trade like a sane person. I do appreciate the feedback from you and Bryan.
Sorry olvus, I took a mental break. I had a string of rough trades, and got away from the basics. I am back now. I am trying to learn Nadex on a demo account and trade my spot forex account,too, so I am cramming a lot into what little spare time I have.
I have an ITM from Sunday, and an ITM from the Asia session tonight.
Hi, glad to see you're back. I'm been trading with a demo account (Marketsworld) and have not yet decided to open a real account. I am testing different systems. My favorite system is very similar to yours, I took her on the same forum that BryanMac. The results for the last three trading days are not bad: 1:0 2:0 and 5:2
Hi, glad to see you're back. I'm been trading with a demo account (Marketsworld) and have not yet decided to open a real account. I am testing different systems. My favorite system is very similar to yours, I took her on the same forum that BryanMac. The results for the last three trading days are not bad: 1:0 2:0 and 5:2
Yup, this is BryanMac's system. You are doing well. Glad to hear about your progress.
The date was May 6, 1954. Roger Bannister had been the first person to run a mile in under 4 minutes. Up until that day, everybody on the planet thought it was impossible. People were running for years and years before that, and it was never done before. Now, experience the power of belief. How long did Roger's amazing record last? 46 days. Years went by, and no one could do it. One man says, "I did it", and now it has become possible. A month and a half later, somebody else stepped up and did it even faster!
My point is this...what is your level of expectation in binary options? There is a hot trader currently showing screenshots of trading $50 into $50,000 in only 3 DAYS.
That kind of mind blowing success is not easy to do. But, it proves that it is possible. I don't have enough hours around my day job to log the number of trades needed to do that in 3 days. BUT, it really made me think about how low my expectations were about my potential for success. Of course proper money management is important to sustain an income, so trade bold, but trade smart.
Here is a trade where I jumped in one candle too soon. I rarely martingale a second trade, but I was confident the price would go up after the third little green alert arrow appeared. (In this system, 2 alert arrows are usually a solid ITM on silver and gold )
I have been studying Nadex, again, and decided to switch over and use them. They have so many ways to trade. For now I will stick with their binaries. I have a trend trade that was only profitable by closing early. I'm on demo for another day or two.
I am trading on the 15min chart here. Price dropped below support, and the THV Trix indicator lines crossed down,and both were red.I wanted to see support break before I took a position. It worked out great. The expire time was for 11 am, but I closed at 9 am on the last red candle.
I don't know if I was tired, or what, but I neglected to confirm the trend on the 1 hour chart, and took entry on the 15 min chart...
Bad bad bad OTM... I printed off my trade rules so this does NOT happen again.... I don't know how I was so incoherent on this one! I entered at 7:30 am and trade expired at 3 pm EST.
My second trade lost. I was one candle early. I was thinking of jumping in on the next candle, but didn't want to get burned again. I should have went with my gut instinct and took the second trade... price shot up over the next few candles.
Back in the saddle today. 3 wins, 1 loss. Let's start with the OTM. I was one candle too early, but I sensed it would climb after this candle, so I reentered and won. Here is the screenshot of the losing trade...
Comments
The first one was close. I saved a screenshot of the loss, and another shot 2 candles later where I would have been ITM. So close, ugh...
I was watching a trade set up this morning on usd/cad, but about the time I wanted to enter, our puppy started acting up and distracted me. I missed the trade. It was getting close to news releases,too, so I went to work. No trades today.
Olvus, are you a fulltime or part time trader?
http://i.piccy.info/i9/6f41831ea43ee755c1c9d255c99b772a/1394260321/57821/711407/212cb98c3e83f0ecb37dadc856f99f.png
Uff, i can't upload picture here. Sorry for my english. I wish you to reach your goal!
Hope that makes sense, im doing an advanced TA / Ichi video this week ill shoot it over to you when done.
Hit me up on skype at Brymcafee (McAllen TX)
www.tradingaxis.com
I am back now. I am trying to learn Nadex on a demo account and trade my spot forex account,too, so I am cramming a lot into what little spare time I have.
I have an ITM from Sunday, and an ITM from the Asia session tonight.
Sunday
Monday
My point is this...what is your level of expectation in binary options? There is a hot trader currently showing screenshots of trading $50 into $50,000 in only 3 DAYS.
That kind of mind blowing success is not easy to do. But, it proves that it is possible. I don't have enough hours around my day job to log the number of trades needed to do that in 3 days. BUT, it really made me think about how low my expectations were about my potential for success.
Of course proper money management is important to sustain an income, so trade bold, but trade smart.
This was a trend trade with ichimoku.
I have a trend trade that was only profitable by closing early. I'm on demo for another day or two.
Bad bad bad OTM... I printed off my trade rules so this does NOT happen again....
I don't know how I was so incoherent on this one! I entered at 7:30 am and trade expired at 3 pm EST.
Trade #1 was ITM. Price didn't make it back to the resistance line, but the divergence on the VC indicator looked good for an entry.
Let's start with the OTM. I was one candle too early, but I sensed it would climb after this candle, so I reentered and won.
Here is the screenshot of the losing trade...