Binary review worksheet23 comments
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No questions on my side, just congratulations on your first video for Binaryoptions. Your contributions will be to the benefit of all Newbies. Okane, could you do me a favour please. Would you have taken the trade, yes or no? I think no because the price was going down but I'm keen to hear your opinion. Hi,I know there is no such thing as a stupid question here, but where do do you find the sma I see moving average Even the simplest of strategies perplexes me Hey Okane, Thanks for the Strategy, Can this setup be made on freestockcharts.
Another question, based on this strategy, does the criteria often happen more than times a day - as an example-? Sun Apr 8 Tokyo: March edited March in Binary Options Strategy. This strategy is very newbie friendly because it only uses 2 simple but powerful indicators that are easy to understand! It is a good start for beginners who want a strategy to comprehend and evolve with.
Set your time frame to M We use SMA 50 for identification of the trend: Candlesticks should be above the SMA 50 for the trend to be considered an uptrend. Candlesticks should be below the SMA 50 for the trend to be considered a downtrend. Add Stochastic Oscillator, standard settings 5, 3, 3 and levels 80 and Price is oversold when Stochastic is near or at Price is overbought when Stochastic is near or at Look for locations where candlesticks come down and touch the SMA 50 and confirm that Stochastic is oversold at the same time on the M15 time frame.
Look for locations where candlesticks come up and touch the SMA 50 and confirm that Stochastic is overbought at the same time on the M15 time frame. Also let me know how it works for you! Don't forget to watch the video.
Thanks Okane for a nice simple strategy. I particularly like it because it's an easy one to set alerts for I use TOS so as not to miss a potential set-up. Yes, simplicity can be profitable! I see too many beginners overwhelming themselves with loads of indicators I dont think your video is working.
It keeps saying an error occurred. The embed option wasn't working - I had to click on "watch on YouTube" to view it. It's now been changed to a simple link so if you click on that it works. My first trade with this strategy and I thought I'd post a screenshot even though it was a well-deserved loser - I knew I shouldn't have taken it but this was my first alert for the strategy and I thought I'd risk it. However, it continued downwards for the 30 mins of my trade and lost. I'm quite pleased in a way because in future I'll stick to the rules - winning may have given me a false sense of security!
The white lines are where I entered the trade and where it closed. I don't know how well this strategy works with assets other than currency pairs. Maybe it'll work on other assets too but you have to test and find out. Today might have been difficult due to all the news coming out for USD. Have to take fundamentals into consideration too.
Just to clarify - you wouldn't have taken that trade even on one of your preferred currency pairs if the chart looked the same as the one above - correct?
I'm testing the strategy on a mixture of 30 currency pairs and assets because one could go for days without a trade on just the pairs you mention. Well, I only know that the strategy should work on currency pairs, because I have seen it work.
Wow, I advise against overwhelming yourself with too many pairs. I usually focus on one asset only because it helps me learning and recognizing its patterns and habits. Thanks very much for confirming what I thought. Perhaps the strategy isn't suitable for stocks but having set the alerts I can keep an eye on them without any trouble and obviously in future will only take trades that strictly adhere to your guidelines.
I'll keep on posting screenshots of any trades I take and am looking forward to any further beginner strategies you care to share with us. Thanks for your valuable education and that of all the other contributors to this site. And on another note, thanks to the ebook download provided by Cory Mitchell another contributor here , I am currently reading "Reminiscences of a Stock Operator" with as much excitement and enthusiasm as if it were a bestselling whodunnit!
Yes, keep me updated. New strategy coming up next week. Hi Okane have tryed your suggestions today i have gone thru and marked my currency pairs backtested does it matter if the wicks go thru the 50 sma but not the body because it seems like they are still winning trades for either 15 mins or 30 mins or is it better for the body to touch i also saw the wicks come down and touch the 50 sma and the next candle was also a winning trade. Hard to say, I would take every situation and analyze it depending on how "the big picture" is.
I suggest you learn drawing support and resistance lines as well. Currency pairs also have wave patterns, time patterns and their own characteristics. These are things that are more difficult to just mention in text. Combining your analysis with a simple strategy will give you more winning trades than simply following indicators.
Yes, at least three reasons should be confirmed before you enter a trade. Sometimes there is more but you have to learn how to find them.
There are patterns that one might neglect due to inexperience. So it all comes down to training and experience. Yes, keep me posted please. Okane can you check my chart out, does this look alright Hope the chart gets on Thank you so much Hey everyone who uses this strategy, I just explained how you can combine Moving Averages with price action analysis in my diary in the journal room.
Check it out because it will help you finding good entries! Sign In or Register to comment.