Date:Sat Apr 27 2024Tokyo:22:52Sydney:23:52New York:9:52London:14:52CET:15:52
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Stuck in Binary option
BinaryMark
Posts: 2 ✭
Posts: 2 ✭
Hi everyone,
I have traded Binary options from 2016-17, then pause until 2023, so I have 3 years experience. Unfortunately I always lose my deposit in less than 2 month. It seems that nothing work for me, I also read almost everything on site Babypips.com (they have great educational material for trading) - but no luck even with all the indicators, pinbars, SNR, candlestick patterns… I have also paid some course from some guy on YouTube (3 hours long), and join telegram group signals (they also have some educational videos about SNR) but nothing helped.
My question is - is there any solution to become profitable at BO? Is there strategy that can give me 80 - 90% win ratio? My win ratio is around 52%. I think my biggest problem is loosing 2 - 3 trades in a row, then I start panicking and just go martingale.
Thanks everyone for answers
I have traded Binary options from 2016-17, then pause until 2023, so I have 3 years experience. Unfortunately I always lose my deposit in less than 2 month. It seems that nothing work for me, I also read almost everything on site Babypips.com (they have great educational material for trading) - but no luck even with all the indicators, pinbars, SNR, candlestick patterns… I have also paid some course from some guy on YouTube (3 hours long), and join telegram group signals (they also have some educational videos about SNR) but nothing helped.
My question is - is there any solution to become profitable at BO? Is there strategy that can give me 80 - 90% win ratio? My win ratio is around 52%. I think my biggest problem is loosing 2 - 3 trades in a row, then I start panicking and just go martingale.
Thanks everyone for answers
Comments
Just dont pay guys on youtube and dont use signals. The best approach is the first one (babypips and gaining knowledge/practice)
52% can be actually profitable with the right money management
80 - 90% win ratio... let's be honest: do you think that someone will share on a forum such a strategy?
This is just my opinion, but I've been wrong before
Hey, thanks for answering
Now about the strategy, maybe you're right, maybe no one will post such a strategy but I probably will share on internet, or at least share it with my friends or family. The thing is I really don't have that patience to test some strategy weeks or even months before go on real account, that why I asked this question.
About the money management - not sure how can I be profitable with 52%? The way I see it there is only two "options" for money management. First one is classic - trade with 1% of balance, but in that case I will always end day by losing, because if you have min. return of 80% during 1min or 5min trade you will need at least 60% win rate to be in profit. The second one is martingale, the one that I use, but one day it will wipe out all my account. This may not happen today or tomorrow, but over month one day it will. You will got 6 or 7 loosing trades in a row and lost everything.
Lets assume you lose 4 trades in a row. According to the statistics, you will lose only 1 more trade out of the next 6. This allows you to increase your position size on the trades that you are supposed to win (according to the 52% win rate). This will offset the losses and possibly put you in the win column depending on the size.
There's a lot more to be taken into consideration, so be aware. Also, this is not financial advice