Though it is my personal opinion that the Nadex risk-to-reward structure is awful, the fact that my approach to trading the Numerical Price Prediction system can lead to an almost 100% daily success rate motivated me to open another Nadex demo account nonetheless, the reason being that with a tiny balance I can routinely make like $15 per trade instead of the rare $3 per position (at best) trading a small account via OANDA. Unfortunately, I found the performance of the Nadex platform to be no better than before, so I was about to immediately abandon the service once again when I thought, "Why not test the new beta platform written about by Adam McAden on March 10, 2020?" I don't like it as much, but it initially seems more responsive, so I will use this journal to help familiarize myself with its use, and evaluate whether I can trade with it profitably. If so, the rate at which I'll be able to grow my account (hopefully exponentially) should radically outstrip the 1.8% profit per day compounded over 220 days I was originally shooting for when I saw the the ET contributor a couple of years ago who was going to try to parlay a £100 balance into a £5000 account within a year. I will be limiting my trades to two-hour Forex binary option contracts, which means the only pairs that will be available to me are AUDUSD, EURPY, EURUSD, GBPUSD, and USDJPY. It is a $10,000 demo account, so the goal will be to increase this amount each day, without exception. What I'm curious to find out is by how much can this be done, on average? The old platform had a refresh button that would pull up new contracts each hour, but so far, I haven't been able to find it on this one and had to hit by browser refresh button instead. As a result, I purchased a GBPUSD call contract at a significantly higher level than I had hoped/intended.
I wasn't paying attention before, but based on the graphics I'm looking at right now, it would appear that the default time frame for the chart which pops up as soon as you purchase a contract is five minutes... And if I want to change the instruments I'm trading, for example, switch from purchasing twenty-minute Forex binary option contracts to five-minute Forex binary option contracts, I find that I need to click one of these menu options (i.e., BINARY OPTIONS) in the upper left-hand corner to go from one to the other... I suppose there is a video that explains all this, but if I watched it, I would have to keep referring to the platform anyway, and I would probably still forget most of what it covered once I got to the end (not to mention that it would probably all go by too fast). So, I would rather explore the platform on my own first, and then watch the video to learn about anything I missed. Once I purchase a contract I have to check down here at the bottom of the platform to make sure that it is in the list of open Positions and not in the list of pending Orders... If it is in the list of pending Orders and I want to make sure the trade is executed, I need to go in (click on the corresponding contract) and change the Bid/Offer price accordingly.
From what I saw today, the beta platform does not have the nasty habit of sometimes responding only 50% of the time that I encountered with the old platform. I manged to end the day ahead $127.75, so I hope to do at least that well again tomorrow. Now I will go have a look at the video to see what features are offered that I might have missed.
I cannot figure out how to refresh each currency pair’s listing of its two-hour binary option contracts at the top of each new hour (as I could do with the old platform) nor can I find this information written in any text or stated in the New Platform Walkthrough video. So, I’m going to try contacting the company to get an answer to this question. Other than that, pretty much all of the information in the video I figured out on my own, so it looks like this is going to be an extremely short forum thread. As for trying to make another $127.75 today, I was able to meet my goal by managing $198.75… So, maybe I’ll deposit $250 at the end of the month and begin trading via Nadex after all.
Though Nadex re-opens for trading at 3:00 PM or 4:00 PM Pacific Standard Time (I forget which) they don't offer the two-hour binary option contracts I trade personally until 5:00 PM PST.