Again, based on Friday's outcomes working strictly from one-minute charts, if you use the simple configuration below to signal major reversals (main chart) and likely temporary spikes and momentary pullbacks (lower panel), chances are you will be profitable at the end of the day without having to bother with less significant price action.
Note to self... Here is a simple strategy for you to test next week based on Posts #303 through 311: Enter positions (purchase binary option contracts) whenever the upper or lower band of the "inner worm" makes contact with the corresponding band of the "outer snake" on the sides of the tubes away from the trajectory of the hourly and day-to-day trends. Of course, the trade should match the direction of the two trends (see the red circles below).
I wanted to see what the above strategy would look like on a one-minute chart, and having now done so (see below), I’m curious to see what will happen if I enter positions whenever the lower-panel oscillator nears or makes contact with the first level of the Price Anomaly Channel (opposite the direction of the trend) and then pocket gains whenever it makes contact with or surpasses the first level on the other side.
NOTE: The only Touch Brackets NADEX offers are for EURUSD, GBPUSD, USDCHF, and USDJPY. There is 5-pips worth of distance between the five-minute binary option strike prices on EURJPY, GBPJPY, and USDCAD. However, when it comes to the other pairs (AUDUSD, EURUSD, GBPUSD, and USDJPY) the is only a mere TWO-pips worth of difference!!! Plan to trade five-minute binary options via EURJPY, GBPJPY and USDCAD ONLY! If NADEX bull spreads, or call spreads, or whatever NADEX is calling them nowadays, are the same as they were in 2014, the only one it makes sense to trade is the one in the middle because the ones on the top and bottom have too wide a spread to cover in the time intervals offered to make them profitable under normal circumstances. You wouldn’t normally trade these before because potential losses given the distance to the floor and ceiling were more than you were willing to risk. But now that you have tactics you feel are successful 90% of the time, it might be worth it to look into trading the middle spread once again if the loss is capped under $50, so check it out next week.
At least initially, the touch brackets strike me as the most reasonable trade type NADEX has come up with thus far, so I will be watching to see what might have happened had I chosen to go long GBPUSD approximately 20 minutes after the start of this week's sessions. I have to take back some of what I claimed previously. While it's true that I only have to clear about 1 pip to start making money off a touch bracket and 2 pips to make money off a central 4-hour call spread (as NADEX is calling them now), but at least 5 pips before profit is possible with the upper or lower spread, now that I'm using a system that provides me with an extremely strong conviction as to whether a given currency pair is heading up or down, 5 pips is a challenge I would now be willing to take on, especially when I would only be risking about six bucks on the downside (though I do recall having seen spreads as high as 16 pips in the past). However, if I do begin trading call spreads, I will not trade anything LESS than four hours. I will also need to see how the spreads are timed, given that I seem to recall them being spaced out in such a manner as to minimize the amount of profit a trader could potentially realize during the New York session. If, in Pacific Standard Time, they are from: 3PM - 7PM 7PM - 11PM 11PM - 3AM 3AM - 7AM 7AM - 11AM 11AM - 2PM Then this is not ideal. For the London session, I'd want 10PM to 2AM. For the New York Session I'd want 5AM to 9AM. But again, now that I'm using a system that provides me with an extremely strong conviction as to whether a given currency pair will ultimately head up or down, and which clearly delineates the limits to how high or low rates are likely to fluctuate within a given time span, I might be able to "game the system" anyway via any spread of any duration that happens to fit the structure and price level existing at the start of whatever hour. Thanks to Numerical Price Prediction, this looks to be a completely different game than it was when I was trading NADEX back in 2014.
Sunday / December 29, 2019 / 6:25 p.m. PST This was my first trade based on the thoroughly systematized Numerical Price Prediction system. I purchase a $3 contract instead of just $1 because of my confidence that it would be in-the-money at the end of 30 minutes, and out of a desire to finally push my trade balance above $140.00, which I have failed to do for several days now (there were 48 seconds left at the time this image was captured). Had this trade be transacted via OANDA, it probably would have netted about 25ȼ at best. The $2.10 payout from Binary dot com is a big improvement over those “two bits” (an American quarter) and the earlier NADEX GBPUSD trade might be worth about $15 by now, but only $1.50 using a traditional Forex broker.
That right there encapsulates a good journal being a journey. Expi is on a journey, and is experiencing pains and troubles. He's working through it. In my mind, this is what a journal is meant to be like, not what certain others here think a journal SHOULD be like.
Man! I deleted the snapshots of the NADEX touch spreads from the beginning of the week thinking they were something else. Now three of them are already gone. (I needed to see how they were going to evolve as the week progressed.)