Binary

Well it went no where. BP didn’t manage to have a real run today. So once it climbed the barrier of 575 around 9:15 it stays a bit above it for the rest of the day. The share picked at 578.60 and I kept it till the last minute and closed the position at 577.7 for 2.7 points profit but after commissions (I used CFD) it is just 0.7. Not the best trade!

But at least it is not in the red…

Sorry for the off topic subject but it is amazing. From my window you can see airplanes coming to land in London City Airport. For those who don’t know this is the windiest area in all London.

Watching the wind throwing these poor airplanes in the air make you feel sick and lucky that you are not on board. I feel that a big acciaident surely will come. Don’t be on that fight!

Hi all,

City Index has a nice offer: On Wednesday the spread on binary betting will be only 2 points – compare to the normal 6-8 points. This can save you some money and by far it is the best offer in the market on binary.

Don’t forget to post in our forum what you are going to do

I try to do at least one bet per day. I am not looking for huge return but solid 20-30 points. First the timing is important. For this strategy I think it works well when the market is calm. So 15:20 is a good time for the Dow.

Then I use 20 minutes bet but my secret is to open a position even before the actual time. For example if I am going to bet on the time frame 15:20 to 15:40 I will place my bet on 15:19. So my maximum risk is only 52 points.

Then I try to analyze the market using MACD / RSI and EMA on 5 minutes chart. So I try to take an educated guess where the index will go in the next 20 minutes.

You have to remember that prices are not moving in straight lines. They going up and then down, up and down until they find direction. If it is a regular day then during the 20 minutes the index will go up and down several times give you 2-3 options to bank a profit. So even if it seems that you chose the wrong side you still have time that the index will come back to you. Most of the time I close the position after 2 minutes with profit. Sometimes I even play again and again on the same time frame.

This is a lesson I’ve learned. When you open a position you do it for a reason. Hopefully you did some research and you have few good reason that support the case to go long or short.

But they are your decisions based on your logic! and when you discuss it with a friend or someone else they have their logic and some time hidden agenda that can influence you in a wrong way. Keep it private. Set an exit point before you even open a trade. You may adjust it during time but again base on your logic and not someone else…

I’ve done this mistake many time before and it cost me money. Big money. No I am silence like a fish…