sorry this should look better…
Expires Instr Date Set up full 1 wing triggers upper lower stops stopped comments pips fees P/L 11pm E/J 5-Jan 4PM 1 2 20 80 2 traded 5-6PM dark 60 4 -64 11pm G/J 5-Jan 4PM 1 2 80 1 traded 5-6PM dark 80 2 -82 3am E/J 5-Jan 4PM 1 2 80 1 51 traded 5-6PM dark 60 2 -31
I still have alot to learn about this but so far The best I have done is 50% with 3 trades a day The eur/gbp seems to work the best depending on whether or not you can find good strikes. Have a great weekend everyone!
Good Evening,
Just finished up my IBF results for this week, it was not the biggest profits I have made but none the less we still turned a profit of $107 after fee’s trading 1 contract.
We did miss out on some USDCHF trades we usually take due the crash of that pair, but prosper from great pricing and super wide strikes with high IV following that event that seemed to linger for about a full day after.
This is now the fifth week of tracking the IBF’s and we still have not had a losing week, however I am a firm believer that theirs always a better way or at least ways to improve and what we have been discovering is the 3am - 6pm time frame while flat most of that period get too volatile right near the end of the trade so we have been toying with the 1pm - 11pm time frame which seems to be much better as that kinda eliminates that end of trade spike that often ruins the trades, with the exception of news events of course.
Off the data I pulled together this week on my results I did a quick study just see if the elimination of the 3am trade would increase our profitability at and I found that without those trades in there the win % went from 58% to 69% week end profit went from $107 to $158 after fee’s the amount of trades went from 24 to 16 so we saved on commission as it went from $74 - $52.
I did also want to mention that we had several loses over $30 this week which we don’t normally have we mostly stay about $29 or lower but we got some bad fills on our stops, I would expect that to change as we eliminate the 6pm - 3am time slot for trades as the market moves a little slower on the 1pm - 11pm in the later phase of the trade and with the stop trigger plugin being sensitive to how quickly the price crosses the stop price this should get us stopped out closer to $50 if it does not pan out that way our only option is to move the stops in a few ticks, we will report out finding on this matter next week.
Please see my results below:
24 total trades 14 Win 10 Loses 11 full 2 wing trades 14 one wing ITM trades 23 limit triggers set 7 trades entered at time of analysis (no limit trigger orders) Avg. pricing upper - $21.2 / Lower $80.8 Stops used on all trades 9 Stop outs in which 5 would have won without the stops. (we plan on the stop outs being reduced with elimination of the 3am exp as well) Overall the stops cost us $37 Exchange fee’s $74 Overall after fee P/L - $107 on 1 contract trades
We are working hard to make this even better but you cant beat 5 weeks of profit!
Have a great weekend!
Best,
-atrader2
Thanks for you efforts and diligence atrader2.
one issue i find with 3am expiry is that i cant check up on the trade and see how it behaves, improvise if needed, as most of
us go to sleep well before 3am
[quote=adnans]Thanks for you efforts and diligence atrader2.
one issue i find with 3am expiry is that i cant check up on the trade and see how it behaves, improvise if needed, as most of
us go to sleep well before 3am[/quote]
Adnans,
I hear you on that!
stayed tuned as we try some other time frames it may be easier for you to trade then.
Best, -atrader2
THANKS atrader2! This is great work ! I’ve applied your work to /TF on 20 minute and hourly expirations from 11:00 to 1:00 eastern. So far so good. I am new and would love to see what a good trader like you could do with it. I love the IBFs and your risk reward on them. Thanks Again John
atrader2 are still doing the BFs and long term strangles? If not to much trouble, I’m interested in your ongoing weekly results. Thank you.
Hi atrader2,
I’m intrigued by the iron butterflies…I think this may be something that fits my personality. I would love to start doing them, but my time is limited. I can only trade from 6:30 PM to 1 AM EST. Would this be something I could do and get one trade a day? I notice that you do ones that expire at 3 AM…does that mean you have to be up at that time? I was hoping that I could set them at night, then go to bed and see what my results are the next day. Any advice you could offer about these would be great!
Hi atrader2, Are you still testing your IBF strategy? I think a lot of us are really interested in your results!
Thanks
Noobie58, You can most definitely do IBF’s on short expiry period during the times you specified. Darrel even has a video in the forum on IBF’s on the 20 minute binaries but those are only offered during the day session. I have been testing Rich’s strategy on 2hr expiry times at night in Demo and there is an abundance of opportunities. I am attaching one example of a trade I did this week. Just watch Rich’s Webinar and apply his method to the 2 hr binaries or you could even do them hourly on EURUSD, GBPUSD, AUDUSD and USDJPY. Demo, Demo, Demo is my advice and set stops and stick with them as they will save your hide.
http://www.screencast.com/users/TimeLord914/folders/Default/media/39b51607-2c86-4bf3-9646-a4c23b50bb8d][img]http://content.screencast.com/users/TimeLord914/folders/Default/media/39b51607-2c86-4bf3-9646-a4c23b50bb8d/2015-02-15_0946.png[/img
Peter
Peter, thanks so much for the advice and the example! Thats very encouraging 
Ill have to check out the vid for the 20 minute binaries, didnt see that one. But I have watched the others several times and now I just need to give it a go. Hopefully ill be able to do a little trend catcher and mix in some IBF’S as well. I would be interested to know how you’re coming along with them in the future and if theres any tips or tricks you’ve learned along the way Thanks again!
Peter, a quick couple questions: I havent heard any mention of the exact chart setup you need for IBF’s in the videos…should I use time based charts or DB? If im using the DB, what should the bar size be? I know what to do with the expected range, just didnt catch the rest. Also, for your stops does the rule of setting them at the strike apply for IBF’s or is it something else? Thanks!
I’m not Peter, but I will give you my answer and how I do them. There is no exact chart setup. What works for you and what indicators do you want to look at? Me personally I use a very simple chart. Not much on it. Expected range (High to Low), Expected range (Close to Close), and deviation levels. That’s it. I use a 10 minute bar. I don’t see any reason to you DB’s for these.
As for stops again that is up to you. I have tried setting them a couple ticks inside where my strike is, example strike at 1.5200 stop at 1.5198, for a closer exit to $50 if there is a swing. But I have recently just started putting my stop at the strike price. This has the con of not getting out exactly at $50. But most times, and I do say most, I am out @ $50 ±3. So again this is up to you. Demo it. Try it. See what works for you. How much risk is good for you? What are you able to stomach? One size does not fit all in the trading world. You need to do some testing on your own and see what works for you.
atrader2 has laid out all the rules that he follows in his video’s. After that it’s adding your own personal 123’s.
Grim
Sorry for the late reply Noobie58, I have been in snow removal mode.
Grim pretty much described my chart setup. It’s a pretty simple chart. Also, I have been using the OHLC bars and not the candles, no reason other than I just prefer them to the candles.
I know you Grimnokk! I remember you answered some questions I had in the trading pit and Ive also been studying yours and creekcourses thread where you have posted your IBF trades. Thank you for the advice; I like hearing that you prefer simple charts…I want as simple as possible. But, like you said I just need to get in there and try for myself. And thanks again to you Peter for your help as well!
Question please, can someone please tell me where the video is that covers the IBF on the 20 minute binaries? Thanks All !
Both are listed under apex webinars then under traders helping traders. I don’t know if they cover 20 minute binaries… I hope that points you in the right direction! –Sherrie
