As a new trader I seem to be very curious about different trading strategies and one of them that really intrest me the most is the 508% gain. You did a live webinar on it.
My question is should a trade be actively seeking out trades such as this one. By watching mostly all of your videos you tend to be more of the “base hit” type of trader. By that I mean that you don’t actively seek big 200-300%+ gains but rather after the consistant 1:1.
In this webinar you state that these opportunities are available throughout the day. But it’s clear that this was a news trade…
But after saying all that I have simple question. How often do these big gain returns occur?
I ask this because if these trades occur quite often as stated, shouldn’t there be a little more energy geard towards learning this strategy?
Everyone wants big gains. and yes there are tons of them there to be had…but they are harder to find and harder to pull off consistently…I like easy consistent profitable trading…greed is your worst enemy…when the big ones come enjoy it…don’t worry about maximizing every profit that is a sure fire way to lose (you will be uspet when you lose, upset when you breakeven upset when you win as you could have made more etc… this is a defeatest attitude that results in your failure) - worry about trading well…profits are a byproduct of trading well not a by product of trying to maximize reward
Well for me personally its not a greed issue or trying to find trades like these every hour and minute. I just don’t see anything wrong with spotting trades like this to make decent gains.
Today was a great example…
Sold 4 contracts at 92.50
Bought those 4 contracts 24.50
And it was all based off of trading simple price action. Price was obviously going in my favor so the speculation made was correct. So for me on this particular trade I was looking at all the pairs that Nadex trades and then I was just examining price action to see if I could spot some good opportunities.
Price went in the direction that I thought it would and the gains were good. Now granted this was my demo account (I still have to practice getting in and out of trades), but I still had to look at price and make the decision.
Now for me its a little different because I looked at price first and then I looked at the binary options available to me. I look and see the distance at which price has to move and I also look at the speed / volatility at which price is moving and then make the choice based off of price action.
I don’t have a hard time finding them. I just have a hard time managing the take profit.
I’m all for 1:1 and consistency but I also don’t mind finding opportunities for big gains as well…
if you can find them great… I just really call people to focus on 1:1 as that is easier to hit on a consistent basis and consistency is really what trading for a living is all about. As you mentioned the profit is hard to manage when going for more as the profit on a binary can disappear in a second.
Not saying you are “greedy” but we are wrestle with greed in trading. anyoe who wold today made good money. Anyone who bought yesterday after the massive fall made good money. Markets all moved a solid deviation or more today. I’ve seen you mention being upset about getting out to soon on a trade on a different post that could have made more etc… that is the only reason i brought it up the previous comments. They all come from traders who trade for a living.
You should always look at the underlying price movement before looking at a binary great job that is a best practice.
if you can easily find momentum trades. And you have a hard tim emanaging profit then go for the easy profit 1:1 and grab it over and over again. Or test yourself and do 2 contracts 2 at 1:1 and 2 going for it (profit popper/trendcatcher method) profit popper eliminates risk locks in some money trend catcher allows you to go for bigger move (satisfies the fear and greed in all of us)
Trading is not about wins or losses making or losing money its about trading well for consistency.
Well after a few days of thinking about doing this for a living it dawned on me that consistency is better than large gains that you can barley hit.
I figured the best thing for me to right now is to hone in on the trades that are easier to attain rather than big shots…Not saying that im disregarding them all together but I’m going to just raise some capitol and have 2 funds…One for base hits and one for the large news trade gains.
I thank you for really helping me see how I need to focus more on long term strategies. Once I get enough capitol for it though I am going to have a fund for the big percentage gains for the news trades.
I was just taken from the 508% winner and I was under the impression that these type of trades were available everyday or at least a few days out of the week.
They are available everyday. It is just much easier to hit the 1:1 over and over again. You want consistency to be the majority of your trading you can always scale - ie say 3 or 4 out of 5 for consistency 1:1 then have 1 or 2 others for big moves.
