Interesting conversation i had with a trader - we will call them trader X
We have all been trader X at some point… you might be trader X now - if you are think about what is typed below… it will save you a lot of cash
TRADER X average profit from a single binary contract
DARRELL IMPOSSIBLE TO ANSWER - RUN FROM ANYONE WHO TELLS YOU OTHERWISE - TO MANY VARIABLES THIS SIMPLE QUESTION REQUIRES ABOUT 200 FOLLOW UPS TO EVEN GET CLOSE TO ANSWERING IT - I CAN’T EVEN START TO ANSWER THIS LOL
TRADER X i’m grabbing otm binaries before a spike in a direction and selling out. i’m only grabbing a couple and averaging around 20-40 per spike.
DARRELL GAMBLING NO SYSTEM WONT WORK CONSISTENTLY FOR ANY LENGTH OF TIME
TRADER X i’m starting to see there is more to this though… there is a technical info on nadex charting i beleive is macd and the when the lines cross its going in the other direction so i buy/sell it tends to pause somewhere towards the top and i try to be quick. the first two times or so i lost 120 and 150 but am recouping the losses fairly quickly
DARRELL A LOT MORE TO IT - DON’T USE NADEX CHARGING - MACD WORKS IN SOME MARKET CONDITIONS AND DOES NOT WORK IN A LOT OF THE AS WELL
YOU WILL LOSE IT FASTER THAN YOU MAKE IT WITH THESE METHODS
TRADER X do you think spreads are better for beginners? or would you suggest binaries?
DARRELL DEPENDS ON THE TRADER, THEIR ACCOUNT SIZE, DO THEY HAVE EXPERIENCE TRADING ANYTHING ELSE, DO THEY HAVE PATIENCE, FROM WHAT I CAN TELL YOU DONT HAVE PATIENCE SO SPREADS ARE NOT FOR YOU
TRADERX i noticed the quickness of a binary. i got in two for 60 it jumped for a 80 dollar profit. a friend sent a pic of a model for a tattoo she wanted to get and before i could get a ticket open to grab the profit it droped and lost the 120. i think the big thing i’m missing is the strategies to find the expected movements and how to make them the most accurate.
DARRELL YES THEY CAN MOVE FAST - THEY CAN ALSO MOVE INCREDIBLY SLOW -
WE HAVE EXPECTED MOVEMENT INDICATORS THAT TELL HOW FAR TO EXPECT THE MARKET TO MOVE - - LOOK UNDER STUDY - TOOL KIT EXPECTED RANGE - THEY ARE INSANELY ACCURATE
TRADER X that’s exactly what i’m more or less missing. i can more or less predict spikes one way or the other with macd, but i have to bail a few bucks in, because i more or less am “gambling”
DARRELL YES YOUR GAMBLING NOT TRADING
TRADER X is there a chat which multiple members talk in, that i can lurk and learn? DARRELL YES THE NADEX TRADING PIT NIGHT AND DAY - YES THERE IS A FEE - BUT IT INCLUDES STOP PLUGIN ON SCANNER AND SYSTEMS FOR TRADING
TRADER X
ah, thats about the extra income i have at the moment per month. i will most likely learn and experiment till i find a method that makes enough to off set the cost to be able to hone this craft better. one last question, what are the ranges a person could make trading? like at a few hours a week a few hours a day and as a full time job? granted it all depends on how much risk they put in and how often they are right, but as rough reported estimates. just wondering how much time i can start to transfer to this at any point. DARRELL AGAIN YOUR QUESTIONS ABOUT EXPECTATIONS OF PROFIT WAS ANSWERED AT THE BEGINNING -
YOUR WILLING TO GAMBLE MONEY ON RANDOM TRADES - BUT NOT WILLING TO INVEST MONEY TO LEARN HOW TO MAKE TRADES WISELY - THIS IS NOT A PLAN THAT WILL TAKE YOU FAR AND IT WILL COST YOU A LOT MORE MONEY - YOU WILL MOST LIKELY NOT FIND A METHOD TO PAY THE COST YOU WILL LOSE MORE TRYING TO DO SO THAN JUST PAYING IT - THERE IS A $7.00 2 WEEK TRIAL I SUGGEST YOU USE THAT
THE WAY YOUR TRADING I WOULD EXPECT THE RANGE TO BE NEGATIVE IN THE COURSE OF MONTH OPEN TO MONTH END
YOUR GOING TO HAVE TO DECIDE ARE YOU GOING TO TRY TO GET LUCKY AND LOSE IT ALL OR ARE YOU GOING TO INVEST IN PROPER EDUCATION SO YOU CAN BE DOING THIS IN 12 MONTHS 4 YEARS ETC…
TRADER X i guess i learn better if there is real loss on the line. i guess i can crunch the numbers on potential profits vs the amount i put up and extrapolate from there. but thanks for all your help.
YOUR GOING TO CRUNCH NUMBER INCORRECTLY AND MAKE FALSE CONCLUSIONS
“LEARN BETTER IF THERE IS REAL LOSS ON THE LINE” INACCURATE - YOU WILL BE MORE EMOTIONAL MORE ERATIC - THAT IS LIKE SAYING A PILOT LEARNS BETTER IF THEY ARE IN A REAL PLANE WITH REAL PASSENGERS ON BOARD OR A DOCTOR LEARNS BETTER HOW TO DO SURGERY WHEN ITS A LIVE SURGEON - PEOPLE DIE/ACCOUNTS ARE OBLITERATED LESSONS WILL BE LEARNED - THE MAIN ONE BEING DON’T DO IT LIVE