First of all i'm not new to trading or Nadex. I was just wondering if anyone had tried successfully using Bull Spreads or Binary Options when trading support and resistance levels/ pivot points.
Fortunately , I do have the benefit to watch my charts and patiently wait for the these levels to be reached 12 hours a day. I have been successful using Bull Spreads and i have tested these levels using Binary Options on Nadex successfully as well but just curious if anyone here has been successful or may have a better strategy than something so simple as the one im using. I don't use indicators and i only use the support and resistance levels using a pivot point calculator based on the previous day high,low, and close using GMT daily time frame.
I'm a bigger fan of Bull Spreads when trading after confirmation of support or resistance because of less risk and the profit can be just as good if using a good exit plan whether correct or not .
But i'm in no way in hell a fan of Nadex not allowing stop losses. because of just that i have to watch my charts all day long with my finger on the trigger to protect my trade from going under.
When i trade Bull Spreads i always trade at the money and not out of the money. i like to have full control of what im doing because hope and wishing doesnt work in trading. Same goes with binary options. I never buy deep in the money or out of the money . thats just stupid. if you know what you are doing then there is no need to.