Best time to trade binaries (Currencies/Foreign Currencies)?

#1

Hello,

I have been demo trading (I haven’t gone live yet) currency and foreign currency binaries using the Spike Striker system. I’ve got the hang of it and am able to get into a trade (far ITM as possible), enter stop loss, and trailing stop orders properly.

I ask this question since some of my entries do not get filled, and on top of that, a few of my filled orders’ stop loss do not get filled on time, and I can’t limit my losses therefore end up loosing up to $80 per contract (when I’m not watching my monitor), instead of the intended $15$ ~ $20. Sometimes they get filled several minutes after the market has moved against my favor (at -$50.00 per contract, for example). And last but not least, most of the trades are winners if I had been filled, which makes me bite my nails (literally).

Since my desktop is pretty powerful, three factors that came to mind were:

  1. Trade Volume / Liquidity
  2. My internet speed: 102.28 Mbps (I guess that’s okay)
  3. My speed (I’m going as fast as I can)

So I did some searching, and found out that the best time to trade Forex futures (which I believe the Apex charts are based upon) are between 8am - 12pm EST when the NY and London exchanges overlap, and 3am - 4am EST when London and Asian exchanges overlap. But I’m thinking this factor has to do more about the volatility, and has nothing to do whether my orders get filled in a timely matter or not.

And since Nadex is an American Exchange, and accepts only North American citizens (and Mexico) at this time, is it not true that the trade volume and liquidity should be relatively high during normal hours (when folks living in North America are awake)?

Could this be happening because I’m trading demo (not everyone is trading like they do in real life, like acting like sharks or just placing huge orders)? I’m trying to figure out if I am missing something here.

Any suggestions or comments will be greatly appreciated.

Thank you!

Morister

#2

Hello,

I feel like I’m talking to myself :), but I was just in the trading pit (for the first time ever) about 1 1/2 hours ago, and I guess I was the only one in front of my PC at the time and it was getting late as well (you can probably see my log saying “Hello?”), but I saw a log from a few minutes back (at the time) stating, "Decent volume for USD/JPY " and it just hit me…

I had three major pairs opened up on my charts, and immediately turned on the Expected Volume indicator (which I’ve never turned on, despite seeing them on the Spike Striker training videos). The USD/JPY volume spikes averaged between 2-4 times of the others (GBP/USD, EUR/USD). Then sooner or later, I get a 5 min volume spike on USD/JPY and “BAM”! A very smooth transaction. Not bad for being caught off guard.

(Sorry, I’ll be sure to get the Snagit software soon)

I’d like to thank the person who mentioned the fact about the volume on USD/JPY tonight. I didn’t get to talk to the person, but learned something. JUST LOOK AT THE VOLUME AND IMPROVISE. I may be generalizing things, or even stating the obvious that were covered in the videos, but I’m starting to feel better about all of this. There may be more conditions to consider for my upcoming trades such as (actual volume > expected volume) and vice versa in order to get that “text book” setup, so I’ll probably review the threshold percentage for the Expected Volume indicator.

Morister

#3

Yes you are correct on the times being usually the most volatile during the hours you mentioned. The Expected Volume Indicator is very helpful for trading as well as you mentioned. As far as you orders not filling or your stops not filling. Make sure to watch the Stop Plug In training Course Step by step[ to make sure you are getting out before the dark zone and to make sure you are using proper offset and Worst Limit. Without specific examples with screenshots or video it is hard fo us to advise on what may be causing those things to happen