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Hello my dear readers and fellow Community members,
Today I am going to discuss in this article in detail about the use of the Technical Analysis to trade Forex Binary Options. Before we proceed, we need to understand- what is Binary Option and how to trade it profitably?
Well, it is nothing but to predict the price of any instrument at a particular time will be above(CALL) or below(PUT) the strike price(PRICE OF OPENING THE TRADE). If one thinks that the price will be higher then he opens a CALL option and if he thinks that the price will be below the strike price then he opens a PUT option. To know more about the concept of Binary Trading one can go here.
The essence here is to predict it and earn the fruits. But the market is no slave. It does not do what we say. But we have to see the rhythm of the market and predict its direction. Of course, it is not a simple task. Many of those reading know it already that predicting markets is very difficult or next to impossible. But the idea here is not to be correct all the time but to be correct most of the times.
To help you…
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Apophis avatar
Apophis 6 Apr.

very interesting

Natali_Niyazova avatar

very well done Rakesh!

gargantua avatar
gargantua 21 Apr.

very good

anashape avatar
anashape 22 Apr.


Elenadesign avatar

Good article!!thanks!

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In a definition of Price Action trading (PA) strategy, it is an act of responding to ways and manner that price behaves or behaving during a period in time. With PA, you are going to trade what you see and not relying on any complex indicator that you did not even know how it’s been calculated. You act based on some laid down rules as regards price behavior.
Although, price action is best recommended for anyone who’s just beginning in financial market. I could recall my first encounter with FX market, I was so overwhelmed with a whole lot of different trading strategies. They all appear great in theory, but ugly in practice. Not until I’ve learn to settle down for price action strategy and the reward was huge.
No strategy is fail safe, price action inclusive. No strategy or system will single-handedly give you consistent result or profit. Every time we speak of consistency in Forex trading, little do we know that it cut across the way we interpret the market, the way we stick to a strategy over a period of time, the way we keep to a leverage size and the time we open and close the trading terminal every day.
Well, I wouldn’t want to bug you with too much talk. If you’ve been in the…
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JockPippin avatar
JockPippin 13 June

Sound words and a sound plan  .Something similar to my mindset and I have achieved what I set out to do in Forex .

WallStreet6 avatar

If we only knew to which signals we should listen to:)

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Poker is a very interesting game; that involves a lot of strategy and discipline. It teaches you how to calculate the odds of success and loss of a poker hand. When you believe the odds are in your favor, you bet some more and increase the stakes. A round of a poker game starts with a player getting two cards (your hand), every other player on the table also get two cards each. Over time five other cards are revealed on the table; the best combination of a player’s hand and the five cards on the table wins the pot (the reward money after the bet).
This is just a rudimentary description of how poker is played. It is a lot more complex, and has some many variations.
Is the game in any way related to trading the currency markets?
Can we learn a thing or two from the game of cards to make our trading better?
Can any card game strategy be profitable in the currency market?

This article will strive to answer all the above questions, and give a practical insight on how to approach the currency markets from a card player’s perspective.
To answer our first question, the basic similarity between a game of poker and trading the currency market is the uncertainty of the outcome. No p…
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fullmoon avatar
fullmoon 17 Dec.

It's all about the "edge" which exists in many card games - It's very hard to find such a sustainable statistical edge in trading. I traded options when there was an edge, it does not exist anymore.

P3tr4 avatar
P3tr4 17 Dec.

A sustainable statistical edge may be hard to find, that is why a trader has to be open-minded and ready to adapt.

CD1V1 avatar
CD1V1 17 Dec.

there are traders who are profitable in 10 months out of 12, with consistent profit. They have an edge, that is why.

CD1V1 avatar
CD1V1 24 Dec.

Congrats, i see you win first place in November article contest. good luck.

fr33m4n avatar
fr33m4n 25 Dec.

CD1V1 she has won many prizes from article contest, but this is the first time she takes first place. Congratulations P3tr4. You are making nigerians proud. )))

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High probability forex trades; trading the news.
The last weeks we have seen some major forex market volatility surroundingeconomic news. Economic data tends to be one of the most important catalysts for short-term movements in the forex market and there is always some piece of economic data out there that traders can use to trade with a high probabilty chance of a profitable outcome. In this article I’ll share my method for trading that Breaking News!
First, let’s define the scope of this article. This trade strategy is basedon the magic of the “what if” scenario when breaking news hits the market. What if the news is bullish … , or what if the news is bearish … . If both sides of the “what if” scenario predict a profitable opportunity if the news goes that way, the breaking news can be traded.
Basically we wait for the market to react on economic news and try to estimate if the market direction stays the same, or reverses. Cause we are ready to trade both ways (either long or short), no real in depth knowledge of that particular market is needed. It can help you, but it is not required. ... It can also work against you; news and rumors are sometimes influenced by the big players
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monk avatar
monk 12 Nov.

Check out my trader blog. All trades this month are Breaking News trades: Now live: GBP/CAD, trading the GBP Consumer price index, profit +60 pips at the moment.

monk avatar
monk 13 Nov.

Today I got hit by multiple SL spikes ( > 30 pips), it's never a sure thing :). Read my mistakes at my traderblog too. It's never to late to learn.

Likerty avatar
Likerty 20 Nov.

I traded once the knee-jerk reactions of the news releases... And still doo:) Only this time I have the whole technical picture in view and if Iclearly see what market movers are trying to do - I participate, if I have doubts of what is going on - better to stay out. Especcially tricky are fridays releases as friday in general - often postpones its developments for the next week..

monk avatar
monk 20 Nov.

You are correct Likerty, this trade setup can be very tricky and it seems to work best with some kind of broader view. Key is selecting the good trades and stay out of the ones where you have doubt. Less is more in this case :)

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The latest successful trade in this high probability, high risk strategy came from the GBP USD, which resumed the rally inside of the large Weekly range to provide another 100-Pip profit target. The pair had been languishing for sometime above the Support of the Weekly Chart’s Range, but finally began to head towards the Resistance after breaking out of a Pennant formed at that Support. The most outstanding feature of the trade was the appearance of several Consolidation patterns across the time frames that provided additional confirmation of the direction of the market. Once these patterns are correctly identified, they can assist traders to decipher the ´noise´ that appears on charts from time to time, allowing them to profit from the breakouts when the periods of market indecision have ended. To quickly review the main aspects of the strategy, it involves: Using the Weekly, Monthly and Daily Charts to provide market direction; Waiting for the Daily Signal to indicate the start of a trend; Using the 4H Chart and 30 Minute Charts for entry setups and signals, respectively; Aiming for a 100-Pip Target in the direction of the trend; Using Stops of 40 Pips on average for a 2,5 Ris…
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scramble avatar
scramble 14 Sep.

I also believe a lot in weekly study to recognize great trade opportunities. Personally I prefere trades for 40 to 90 pips and hardly hold a position for more than 1 day because i'm still unable to manage with my mind.. so my compliments to you in this!

DaddyPapi avatar
DaddyPapi 14 Sep.

thanks isnt easy, thats true..but I got the confidence to stay in these trades after testing the strategy in detail over a long period.

Likerty avatar
Likerty 17 Sep.

Yep - it went long certainly!:))

LinnuxFX avatar
LinnuxFX 19 Sep.

Nice trade, and your strategy seems to be profitable, good luck...

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