Re: BINARY OPTIONS TRADING STRATEGY & IDEAS

4052
Hello guys, im interested in Binary Options and having been blowing accounts for a while, perhaps someone can look at my strategy and see if they can help make it more efficient.

1. S&R used is drawn on higher time frame i.e if im trading 30min, then i will look for S&R on 3hr chart or more..I also use previous daily,Weekly and monthly levels for S&R. I also use indicator i found on this forum for S&R zones.
2. I look at indicators which are mostly based on RSI to give an arrow signal,,there are about 7 of the indicators and I only consider a signal if it has 4 or more arrows
3. I use lower time frame to check for confirmations, for 30min trade i use 2min chart. I look at the price action at the level, im specifically looking for M/W formations
4. I check for candlestick patterns as well on the 2min chart, specifically engulfing pattern and 3 consecutive candles of the same colour. So in an M/W formation, the first top/bottom has to have a candlestick pattern and the 2nd top has to have a candlestick pattern as well.
5. After confirming all the above conditions i will enter a 30min at the start of the new 30min candle.
NB: almost all the indicators repaint, that it is why it is necessary to use price action and candlestick patterns to filter out bad trades.
I did not code any of the indicators, just downloaded them here and there on the internet.
I would appreciate any feedback on how i can better this system, to be honest the most brutal part about it is the wait, somedays you will find only 1 or 2 good setups. Because of my lack of discipline I try to make exceptions here and there and that's when I start accumulating loses.
The system can also be used for 15min expiry using 2hr charts to check for S&R and using 1min to check for confirmations.

Re: BINARY OPTIONS TRADING STRATEGY & IDEAS

4053
[quote=ZagaEBaya post_id=1295502511 time=1675453645 user_id=4953330]
Hello guys, im interested in Binary Options and having been blowing accounts for a while, perhaps someone can look at my strategy and see if they can help make it more efficient.

1. S&R used is drawn on higher time frame i.e if im trading 30min, then i will look for S&R on 3hr chart or more..I also use previous daily,Weekly and monthly levels for S&R. I also use indicator i found on this forum for S&R zones.
2. I look at indicators which are mostly based on RSI to give an arrow signal,,there are about 7 of the indicators and I only consider a signal if it has 4 or more arrows
3. I use lower time frame to check for confirmations, for 30min trade i use 2min chart. I look at the price action at the level, im specifically looking for M/W formations
4. I check for candlestick patterns as well on the 2min chart, specifically engulfing pattern and 3 consecutive candles of the same colour. So in an M/W formation, the first top/bottom has to have a candlestick pattern and the 2nd top has to have a candlestick pattern as well.
5. After confirming all the above conditions i will enter a 30min at the start of the new 30min candle.

hello bro
these above rules are great analysis expect point 5. i don't know why you go back again higher time frame.. :think:
what is the expiry you took!! not clear.

you can use ema ribbon posted here and the rules.. viewtopic.php?f=578267&t=8474130
also use this idea viewtopic.php?p=1295501796#p1295501796
rsi ma hl setting post # 1538
"There is NO GOD higher than TRUTH" - Mahatma Gandhi

Re: BINARY OPTIONS TRADING STRATEGY & IDEAS

4054
sal wrote: Sat Feb 04, 2023 4:29 pm
HI Sal, the expiry i took is 30min at the start of new 30min candle. This is because the signal came in on M30 chart.
I suppose the signals can also be used in a scalping method especially at supply and demand zones using the same rules and looking at M5 chart with M1 chart for confirmations.
Been taking a look at your recommendations and they seem good for continuation/trend following trades, will test them on demo in the upcoming week. Thank you bro.


Re: BINARY OPTIONS TRADING STRATEGY & IDEAS

4058
ffsss wrote: Wed Feb 08, 2023 3:16 am What are those indicators?
AWO
rsi 2/ 7030
rsi arrow
slope pink indicator a new trend line which give long way can trade as per direction,
modified from seama four
Andrew's pitch fork -manually plotted
"There is NO GOD higher than TRUTH" - Mahatma Gandhi


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