New binary trader jump start

I started binary trading a few months ago with some very good and bad days, I'm spending more time now researching and learning before I trade until I have a better consistent strategy. Any of you experienced folks that have advice on the best way to make 5-7 trades per day would be awesome. I have metatrader5 and tons of good links with info about various indicators, news, etc. but if I want to quickly each night plan a goal for the next day trades, what's the best way to locate about 10 possible trades (forex, stocks, etc.) and narrow down the best 5-7 binary options to make a put or call that night or the next day. I don't do 5 minute trades, I don't mind one hour trades, but I know if I go at least with an hour trade to 2 hours , 4 hours and 8 hour expiry's I have a better chance for wins. I know I can use the meta trader to compare multiple stocks or forex's against each other, but is there a good way to quickly find the top 20 or so binary trades to look at for the next day or the morning of? And then what would be your recommendations for the best indicators. news, etc. to make the best and quickest choices to cut the top 20 down to a top 10 trades for the day?

Any daily strategies anyone has they use along this path would be great to hear. Thanks for anyone's help! Mike Mac





Comments

  • BryanMacBryanMac Posts: 851 ✭✭✭
    The whole higher time frames produces better results really is just a Urban Legend. It about what you focus on learning and the strategy / plan you use. The thing with binary options and I tell everyone this is that when you take these longer term trades, you are locked in to the trade with no way out. SO if for example you invest in "we don't kill dolphins tuna" and overnight it comes out that they do kill dolphins you are just screwed. Basically news, technical or real world can really screw you over. Short term bin trades allow you to skirt around the news. If you are looking to do long term trades I would really advise looking into NADEX, IG Markets (for NON US traders), or Spot trading. As you have full control over these, ie you can exit out at any time.

    Bryan Mcafee
    Hit me up on skype at Brymcafee (McAllen TX)
    www.tradingaxis.com
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