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Beginner trader needs advice

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Hello, I'm Irfan from Bosnia,

I started with trading binary options 20 days ago.
I found this site very useful with lots of tips and beginner strategies,best I can find on internet, and now need help and advice.
I registered with $200 at anyoption.com, and after 100 trades for 20 days, I now have $150, and withdraw $50 earlier, so I'm on zero, but it could be good thing not to lose all money with my 100 trades based on luck, not knowledge.
Now, I want to move from deadly zone, to try other strategies, because I must bid with minimum of $25, and every lose trade is tragedy.
So please advise me what is the best way or strategy to keep trading, and not lose money in beginning?
Thanks in advance.

Comments

Ian Laird's picture

Hi Irfan,

In my opinion, the best way to trade BO for non-experience traders is using MACD indicator with default settings (12,26,9) on MetaTrader. The main idea is to buy Call when Signal line crosses MACD from bottow to up in oversold zone (MACD should be below 0). In the opposite, Put options are good when Signal line crosses MACD from up to bottom in overbought zone (MACD is higher than 0). I recommend to use an expiration 3-4 times longer than your timeframe, i.e. if you trade on H1 timeframe then your expiry should be 3-4 hours after option buying, if you trade on M15 - then your expiry - 45 minutes-1 hour etc. Generally the currency pair doesn't matter, but I recommend you to try all the pairs with USD and JPY.
Hope your results will improve using this approach.

Ian Laird
irfan's picture

Thanks Ian, for reply and helpful tip.
But, as I said, I'm new in BO, and need a little bit clarification:
So in this MACD strategy, I have attached link with screenshot of trading chart with macd:
http://i61.tinypic.com/1z3clkh.jpg
I need little bit detailed explanation, as I am beginner. In this example blue vertical blue lines are 10:40 as entering trade, and 11:00 as closing time, I used 5 minute timeframe.
So, orange signal line crossed blue from below and I'm waiting for first candle to close in 10:45, and then giving Call trade at 1.22542, and it was win, as trade closed in 11:00 at 1.22557. Am I getting it correctly, or there are some limitation in time frames?
It was not real trade, but history graph, and I just want to be sure I'm doing this right.

Thanks again for useful advice.

irfan
Ian Laird's picture

Hi again Irfan,

In my opinion, it is better to buy Call at 11:00 when blue line intersects orange line from bottom to up and set expiry on 11:20. I recommend to buy option only AFTER the intersection occurs.

Ian Laird
Craig Spearman's picture

Mate I am also new so I can’t give much advice but just to hard work!

Craig Spearman
riksa18's picture

Binary option trading is all about working hard, trading is easy but making money with trading is bit difficult and requires full time to become a successful trader. However it took sometime and patience to master the game.

riksa18
Vizory's picture

I recommend getting a demo account so that you won't lose your money. When you have a demo, you only lose virtual money.

Vizory
Prime's picture

Of course it's possible to give advice forever, but I personally recommend trying to think for yourself and independently make trading decisions.

Prime