Archives for August 2013

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Grinding a Put Option on the EURUSD

We got off to a fast start this morning trading the EURUSD. We were watching the markets just before the US market opened up. We knew price action would be in a fairly tight range before this time. Price had come down to support level three area before consolidating throughout the morning. Price started to climb back up to support level two and we decided to take our put option on the EURUSD. Lucky for us this trade closed out just before a significant move to the North side. [Read more…]

Trading Binary Options in August

Today’s trade had breakout written all over it. We finally broke through to some new highs and that led us to a pullback trade. When trends are really working those are the best trades to take. You try to stick with the trend and wait for a nice pullback area. Don’t take the trade too quick, but in time a setup will occur. By catching this before the US Open meant price was pulling back perfectly for a call option at Traderush. Try to find an extended move on a pullback in this case. We had a couple of pips in pain, but never a doubt in the end. [Read more…]

Finding the Best Trade

We started looking at the charts this morning knowing we were back to where we were last week. There is one thing about trading that will always exist. No matter what day of the year you can have a boring session, boring week, or even a boring month. This means price action isn’t doing very much to set up nice trades. Although we’ve been seeking the best trades possible, it is sometimes hard to find the good ones. Today, price action came back to an area where we were trading all last week. The 1.3242 level is back in play once again and we will continue using it as a trading idea. Even though price can move very slowly and stay in the same range, it’s up to you to take advantage of the knowledge you have on these areas. This is why we have support and resistance levels, not to mention the purple lines throughout the charts. This will allow you to find a trade that should work. [Read more…]

Finding Trades in the Chop

We got off to a weird start this morning. We were watching a trade develop in choppy market conditions, when we finally took our put option just before the US markets opened. The interesting thing about this trade was that we entered on the wrong expiry. It turned out to be the expiry after the one we thought we were getting into. Of course in the end we got lucky and had a nice winner. Our prediction was correct, we just had to wait a bit longer. With so many things going on while recording, we must have fat fingered this option. Fortunately for us we got away with it today. We did enter this trade at GTOptions, which has been really good to us lately. [Read more…]

Non Farm Pay Roll Binary Trading

We had a really nice setup today on the binary options market. After watching the news event at 8:30, we knew we had to wait a little while before we entered our trade. Over the past year we’ve been talking about waiting for a good trade set up to occur after 30 to 45 minutes when a news release comes out. This allows us to remain patient and avoid any whipsaw action. Today we had the nonfarm payroll news event, which moved the EURUSD nearly 80 pips to the north side. There were definitely some happy news traders today riding this trade up for big winnings. Although it looked like the price would breakout to new highs it failed to commit to the north side anymore than the initial move. This is when we started looking for our call option at trade rush.

Price formed several nice [Read more…]