Nadex Holy Grail!!
Posted 20 September 2019 - 12:20 AM
Sorry to tell you but there is no holy grail in trading but it seems that those words always get traders eyes open.
I would like to share with those of you who may not know or you are new to trading Nadex binaries.
I'm sure that like so many of us, once you heard about all the money you could make in trading binaries and how easy it was, then you decided to jump in and get rich in a week and quit your day job.
But you probably soon realize that it wasn't so easy.
Maybe you are or were like me and thought if you could only find that perfect indicator then everything would be great.
I have come to understand that the only indicator that works in trading Nadex binaries is price action.
I have learned that most of the time the price is reacting to support and resistance levels.
That's the way the markets move and that's the only way to win your trades on a consistence bases.
Not until I gave up on all the pretty indicators with their alerts and arrows that I begin to really understand trading and making money with Nadex.
I started doing research on trading and everything always came back to support and resistance levels.
It doesn't matter what time frame you trade 5 min. etc, the markets react to support and resistance levels.
Just wanted to give the steps I use to take a trade.
Not bragging are anything but for the most part I only lose a trade when I leave off my own rules due to being impatient or trying to guess the next move. Hope this help someone as this forum helped steer me in the right way.
Here's how I trade:
1. Draw support and resistance lines (use Nadex chart)
2. Price should have touch those levels at least twice.
3. Candle must end with a nice wick.
4. Place a trade on the strike price that is above or below your support or resistance level. (Don't trade the middle strike on Nadex) Unless on those rare
occasions the middle strike is above or below you levels.
5. I use VC just to get a feel of if the market is oversold or over brought.
I'll place a sell trade for $15.00 or more and a buy trade for $85.00 or less.
Yeah, it' not the 50/50 pay out of the middle strike but doing the proper analysis you are almost always assured to win your trade.
How many people can earn $15.00 in 5 minutes.
For the past 2 months I take 3 trades a day with 3 contracts each trade.
Planning on increasing to 6 contracts per trade next month.
Learn support and resistance and learn about what wicks on candlesticks means.
Hope it help, guys
- ameint and Chosen3000 like this
Posted 09 October 2019 - 02:32 AM
Thank you for this! Can you give some examples of what types on wicks to look for. You just said nice so I'm not quick sure what you mean. Thank you.
Look for a nice long wick. Usually I like when the wick is longer than the candle body and the wick broke the support or resistance.
Posted 09 November 2019 - 10:27 PM
Do you trade at or within any specific time zones?
Hi, No cause support and resistance are always legit in the market. I just avoid major news events because it can throw the market for a loop. But I trade any time I have the time. Either morning or late at night.
0 user(s) are reading this topic
0 members, 0 guests, 0 anonymous users