Dec 31, 2013

My Goodbye to Trading

Well this is one of the hardest posts I think I will ever write. Over the past 4 months, I quit my job and made the journey through surviving without a job. The goal was to see if it was sustainable to live off of binary options trading income and website income.

Dec 30, 2013

+$111 Today - USD/JPY, EUR/USD, and US 500 Futures

We are continuing to grind along today trading binary options. I am starting to change the way I trade a little bit by having 2 open positions at a time rather than just 1. It makes it easier to close losses when there is a chance to get more profit.

Dec 29, 2013

New Price Action Pattern

Starting off the Sunday trading session with a nice 2 position profit with a new price action pattern. I went short on the usd/jpy using 2 separate strikes (105.37 and 105.32). The pattern to look for is based on 10 minute candlesticks.

Dec 27, 2013

Busy Day, but Managed to Trade a Little Binaries Still

It was a short day for trading binary options as I was busy seeing a friend from out of state, but I did manage to get a couple small profits in before the close. My first short was on the U/J this morning and I closed it early for a profit.

Dec 26, 2013

Trading After Hours on AUD/USD, EUR/USD, USD/JPY - Net $121 Profit

Well we are back to the money making grind with binary options in the after hours market today. I set a fairly large position at 4:50PM est on the AUD/USD after it had nice gap fill downward off the 0.89000 pricing level. Upon that sell-off, I went ahead and sold that strike price short on the 7PM strike for 3 lots at 26/lot.

Dec 24, 2013

Getting Very Short the U/J - Net Day +$96

Well what a great day today as we are making money!! It's Christmas eve and trading closes at 1PM est so I was doing the morning session. After being up $20 I went down $120 trying to short the E/U at its bottom (don't do that).

Dec 23, 2013

$84 Profit Day - U/J Range Trading with Binary Options

Well we started the day with a stupid risk trade. The U/J had sold off its top and I though it was going to fill its entire gap up on the morning rally so I went short on it. The second I entered the price went against me so ended up closing it with a $58 loss net. This should have never been entered in the first place.

Dec 22, 2013

Live Scalp Trading - U/J and E/U

What is going on. It's Sunday night once again and I am looking at the forex market. My sentiment on the USD/JPY was down in the daily chart analysis and I was looking at a nice set of shorts on this currency pair going into the 8PM expiry. My choice of trading derivative is binary options and here is how I scalped my first bit of profit today:

Dec 21, 2013

Binary Options Trading Recap (Weekly): 20% Balance Return and Website Income Update

Well if you are paying attention to my weekly profit results, you can see that the balance is getting higher and higher while the % return is getting lower and lower. This is what you have to do in order to build trading capital safely but quickly. Right now it's about finding that perfect balance so that I can have daily profits without too much draw down and still make enough money to be able to pay my bills and grow the balance each month.

Dec 20, 2013

EUR/USD Surged 75 Pips this Friday Morning - Great Swing and a Great USD/CAD Put: $55 Net on Day

Good morning. We started the day with the Fed getting in the market and selling the USD. This took the EUR/USD and all majors with the USD to extreme levels with no news. I am talking about a 75 pip move up. This surge presented a couple good shorting opportunities.

Dec 19, 2013

Why is Trading so Hard Today - Hardest $87 I have Made in a Day

Well all the masters of forex trading that I know are struggling today, myself included. Ended up going up $17 over night and then dropped down about $180 from that as the E/U wouldn't give me a good read and neither did the USD/JPY.

Dec 18, 2013

Big FOMC Day

Well, I am now starting back at just about even from yesterday, which is a huge feet. Now today is the 18th of December, 2013 and we have some big FOMC meetings today as well as funds rate. Basically, there will be some moves in the forex market because these numbers have a 100% material effect on the value of currencies.

Dec 17, 2013

Overnight U/J Trading and Morning E/U and Some Crazy Risk

Well that kind of sucked but I made an extra $50 bucks over night. It was a 7AM expiry on a short U/J position. Had to keep waking up every 2 hours to check on it and the price stayed at the money the entire time. The entry was made after some major selling last night. It was a sign of weakness so I went short. It ended up going well in the money in the final hour and ended up a net of $50 profit to start the morning.

Dec 16, 2013

Perfect Price Action on E/U +$100 Profit

Good morning. I started off trading the E/U as some traders were predicting bottoms on it around the 10AM est hour. This turned to be a great leg in the continuation chart pattern I was looking for. Got long on it and then at its top I got short to make money on the hill downwards. Ended up with +$55 of profit with 2 great scalps on the same strike rate for this hour of trading.

Sunday Night Binary Trading Session - Working on Discipline

Tonight is a major focus on discipline. The goal is to never risk over a target amount that I have set for my own personal risk tolerance and obviously to make a profit. I started off with a loss of $50ish, but came back with a $35 profit and am now shooting for one more position before bed that would get me a net profit of around $50 on a short position with the GBP/USD.

Dec 14, 2013

Weekly Trading Income Update - 34% Return

It was a good week, but there is still a lot of room for improvement as my own trading style evolves within the binary options realm. Even though the initial balances were low each week, I was able to get returns on them that are good enough to live off of and it only involved a couple trades per day. A lot of time went into it because of market analysis time taken to make good trading signals for myself.

Dec 13, 2013

Got 10 Pips on First Forex Binary Option Trade Great Start

Whats up traders. This morning I have been working on a small position in the AUD/USD forex pair. As I write this it's about 10 pips in the money for a current net profit of close to $30. On overnight trading we came away with about $17 net after being down $100 at 1:30AM est

Dec 12, 2013

Great Signal on USD/JPY to Start off the Trading Day

Well got in a really nice call option trade on the forex pair: USD/JPY and closed the trade at 4AM this morning with a $42 profit with a total draw down of $50. The entry was made because my technical analysis showed a bullish trend forming and as you can see in the charts, it come up nicely over night and is sitting right around the highs it made in the night.

Dec 11, 2013

Big Range on EUR/USD Today and Binary Options with Futures

Well the EUR/USD has been continuing to grind upward after positive news last week. Today on the open it popped about 25 pips, but then gave it all back and then popped right back up to the top of that range. My first trade lost because of this as I had this underlying asset staying down going into the 11AM hour but you see that last surge caught me off guard.

Dec 10, 2013

Trading Binaries - Going for More Profit with More Capital

Highly efficient day today. Results: 3 Total Hours of trading and $131 net profit.

Well this is exciting. I have put another $800 of capital into the trading account and it's time to get to an average of over $100 per day. It's very important that I still trade with the safe mentality that I had before because it's easy for this money to go up in smoke when you get loose.

Dec 9, 2013

Managing Positions - Tough but Necessary

First trade of the day ended up being on the US Tech 100 futures binary option on the 2 PM expiry. I had to manage the trade because it went against me for most of the time. Once the position hit -$70 I opened a new buy trade on the same asset with the same expiry time.

Dec 8, 2013

Trading Sunday Night - Forex Pairs Disconnected

Well we are still seeing some disconnect between the USD/JPY currency pair compared to the other majors as they are all bidding up on the open tonight. My directional prediction is that the major forex pairs with USD as the denominator to go down so based on that I have a put option on the AUD/USD for an 11p.m. expiry. The goal is to exit the position as soon as it gets to a $20 profit or so and then look for the next trade.

What Creates Strong Levels of Support and Resistance in Forex Markets?

You can take any underlying asset and apply the following assumptions to determine strong levels of support and resistance. For new traders that want to use only price action or only technical analysis, it might be easy to think of analyzing things in a very black and white way. However, the professional technical trader knows that things are not black and white. This is especially true for levels of support and resistance in the forex markets.

Dec 7, 2013

Binary Options Weekly Recap - 71% Return on Capital

Well here we are at the end of the first week of December and I have a nice 70% return on total capital. I started with $300 and it's now at $513.50. I am injecting another $880 of capital into this trading account coming up this week and going for another 70% return on total balance. The key is making high-quality trades that are not rushed.

Dec 6, 2013

Trading on Non-Farm Payroll (People Confused)

Today was December Non-farm payroll and the markets were highly confused. We had forex pairs trying to figure out there direction on the day and no clear sign was sent until a couple hours after the news hit. If you look at the ranges, E/U broke down 45 pips, then filled up that gap, and then went up another 45 pips for its current mid-day price.

Dec 5, 2013

When the News is Traded with Uncertainty

What is going on binary option traders. This morning the unemployment claims are out and this is effecting currency pairs on the USD. Also, we have the ECB talking, which will mainly effect the EUR. So, the currency pair EUR/USD is in flux right now with news that is set against one another.

Dec 4, 2013

Playing the USD/JPY Forex Pair Like a Fiddle This Morning - ADP NFP

What is up. Well the ADP non-farm payroll (ADP NFP) hit today and it shot up the usd/jpy and dropped the eur/usd pretty good. I had a call signal on my beta account for a call on the usd/jpy just before the price went flying up. It's an end of day binary option trade so I will have to wait a few more hours to see how it ends up.

Dec 3, 2013

Starting the Trading Day Early

Well, since my 3 AM expiry went in the money, I decided to start today's binary options trading. The EUR/USD has begun plunging itself upward heavily so I have started to scale in some binary options trading to see if I can get some profit.

Dec 2, 2013

November Passive Income Report

What is going on. I am going to start doing my monthly income reports a little differently from now on. Instead of keeping track of all my active income, such as trading, this report is only going to show passive income activities like website recurring revenue and consulting fees earned from basically broadcasting my trading ideas, which I would do anyways to myself or on video so the money earned from it is considered passive.

Trading the US Tech 100 - Binary Options - Over 10% Return on Balance

Well we had a pretty interesting morning. Today's trading was all done at my fiance's house so I don't have any of my video making software stuff or the software to do the beta signal push trades so it was comprised of all Nadex trading, which I just started up again last night.

Dec 1, 2013

Starting Off Sunday Night Binary Option Trading Early

Well I was examining the opening 15 minutes of price action in the forex markets. Right now the only news is good news for the NZD so that is rising in value and effecting its currency pairs as such. My first position is in the martingale account with a $125 high/low put option with an hour expiry or 6 pm est.

S&P 500 Options Ideas - First Week of December 2013

What is going on options traders. Another week is upon us and we are looking at some different options strategies to profit on the SPX and broader U.S. markets. Looking out at a wide view, the price of this index has steadily been grinding up all week ever since it opened Monday below 1,800.