Hello all! Yes I am still alive and kinda kicking. I hope all of you are doing well and profiting in your trading career. I have not been in the chat room in a while but I wanted to say hello and let folks know I am still trading. I decided to not continue to trade with Marketsworld and started trading with Nadex. I have had a Nadex account a while but never seemed to find a way to be consistent. I finally am showing some consistency with them and wanted to share basically what I was doing. I feel safer with Nadex. There are many positives to trading with them and not an overseas broker since I am in the USA.
Basically Monday through Thursday I trade only the wall30 binary options on Nadex. I usually start looking for an entry around lunchtime EST. I look for extreme moves which I expect to reverse and buy the 415pm expires. I find that the equidistant lines tool on mt4 help provide good entries and locate extreme spots pretty well. I use the 5m chart on mt4. Open a demo with a forex broker that has the dow futures. Sometimes I do stack trades when the market moves against me if I feel very strongly that the market will close in the opposite direction by 415pm est. By stacking I mean i buy or sell the next expire price in the options ladder from where the first purchase. Try not to go too far doing that or you will martingale yourself out of an account. I do not like to trade this strategy on major news days.I only like to enter at or near $50 for the cost of the option which means you are purchasing an strike at or near the current market price. You can use price action to help with the entry. Buying at $50 has changed my trading with Nadex dramatically in good way. I use to buy cheap OTM hoping for some big move in my favor but that did not work well for me at all. Basically the $50 price is saying there is a 50% chance it will expire in the money. With your strategy and price action you try to tip the % over 50% into your favor.
On Fridays, when there is major news for USD or USD and CAD, I like to do a straddle on the USD/CAD pair. It been working out great since this pair like to move on the news(especially when major news comes out for US and Canadian economy at the same time. Like the last 2 Fridays at 830am EST and stays up or down long enough to expire ITM on a 10am binary expires. You are purchasing the otm options at least 2 steps away (above and below)from the atm price a little after 800am. when there is news coming out at 830am. You choose the 10am expires. on the USD/CAD since they do not offer the 900am expires.
Well this is what's been going on for me as far as trading. Hope this helps someone. Be blessed and peace out!