Need help with TC 5 min


#1

Hello, I am new to trading, started couple of months ago. Did the course for 5 min Binary Trend Catcher course and watched some of the webinars. I started with demo first and then live trading. Deposited $500 at first, lost all of it. Deposited another $400 and now I am down to $100 in my account.
Unfortunately, I am making more bad trades than good ones and am loosing money. Don’t know if I am picking wrong trades or is something else. It seems that the trades I choose will flip on me or it will go too slow and lose at the end. I am posting 3 screenshots from this morning.

First trade. I entered the trade at the confirmation arrow. It flipped and it went in the other direction.
Second trade. Entered on the confirmation arrow. Bar timer was showing less then 3 min but it slowed down and I lost the trade. Third trade, same as the previous one. It slowed down and I lost the trade.

Any help will be appreciated!

Thanks!

TZ


#2

TZ, with the 5 min binaries they can move pretty fast at times and they can turn against you at times after you enter. When you were trading in demo, how were things going for you? Were you being profitable in demo before moving to live? Have you changed at all the way your are trading from demo to live? Also are you being aware of any news events coming out that may have an effect on the markets? Be sure to check out the News Calendar to be aware of any upcoming news. The 5 mins can move very fast, and the TC system is designed for very fast trades, very quick in and out scalps. You may want to take a look at the 5 Min Sharpshooter system as well, it is a little bit slower of a system and has a bit different dynamic to it and you may end up liking it much better. At what price are you normally entering the TC 5 min trades at? What amount are you risking and what profit amount are you going for normally?


#3

TZ, had trouble reading your charts so used my own. Looks like Trade 1 and 3 had Cyan Arrow over 3 minutes. No trade. Trade 2 had no exceeding Volume but velocity was up-Sign to be careful. I suggest you draw a line at 3 min on Bar Timer ands expand area. I have included a picture of my chart.


#4

Hi Mark, I am not following the news and this is something I will definitely do in the future. I looked at the Sharpshooter system but since I spent so much time learning TC I am nor ready to give up just yet. It is not easy at the begging to choose the system you want to trade. I will continue with TC for another week, demo first and then live and evaluate my results again. Hopefully I am learning from my mistakes. On TC I am trading OTM, for a buy I am looking to enter at around $25-30 and take profit at $55-60, make $20 on a trade. Sell, I will enter at $70-75 and take profit at $50-55, looking to make $20. Let me know if this is correct and how would you trade, this part is really confusing.

I appreciate your help !!!

TZ


#5

Hi Craig, Thank you for your advise. I see my mistakes now. Looks like I have to pay more attention to the Bar Timer. I am trading demo today and will post some of my trades later this afternoon. Thanks! TZ


#6

Hello, I did much better than yesterday. Now I am paying attention to the Bar Timer before I enter a trade. Still made some mistake, will continue demo today and tomorrow before switching to live trading.

Trade # 3 , Dont know why I lost this one, I might have entered with little time remaining. Trade # 4 was OK Trade # 9, in between the flips

Trade # 5 was ok. Trade # 6 and 7, it took too long for the bar to form, lost both of them

Trade # 8 was a good one.

Trade # 2. I lost this one because didnt see the time bar is more then 3 min.

Those are some of my trades. Please review and let me know what I did wrong. Really appreciate your help!!!

TZ


#7

Much better TZ. I learn best from my losses. It appears that your loss may have been if you had any delay in placing your entry. The movement was 3 pips from entry to close…Not dark zone. So, if you used a OTM Binary you would have probably lost. A ATM or ITM should have won. If I may suggest a few things to help you–put wider bars on your bar timer. Add 3, 2 and 1 minute lines to Bar Timer and expand your chart by click-drag to expand. Plus holding Ctrl C and click to move up/down. You will also note that I have Apex Trend Flip added to my chart as another means of Trend confirmation. Keep learning and growing. Craig


#8

My biggest suggestion is the reality that though the “action” of 5 minute binaries is “exciting”. You will find much better success out of the gate with spreads than binaries and need to learn to trade spreads as you can trade them day or night. Your only going for $20 or so profits. That means you only need like 20 ticks of profit thats not that hard to get on a spread. You can risk less, make more, and have better ratios. https://forum.apexinvesting.com/t/izone-sharpshooter-set-up-and-rules/4415


#9

You are missing some little things on each one. Bar timer is critical on every trade. It cannot be over 3 minutes, and really, if it is close…stay away…Wait for the next bus.
Don’t use out of the moneys for these, especially when the bars are taking a while to form. if there is just one bar in the middle of the whole five minute period not including the open and close bar in the previous 5 mins, I would not take it.
Craig made a lot of good comments.
I recommend to stay in demo until you are consistently making a profit and keep posting charts.
Last piece of advice from me on this one…Stop trading 5 mins and trade longer term bins if you feel the need to continue to trade binaries. Give your system more time to be right. :slight_smile:


#10

You are right. Scalping is too fast for me, at least at the beginning. I watched Darrell’s webinar for 5 Min Sharpshooter system and will test it tomorrow morning on demo. For 5 Min Sharpshooter system, can I use templates or only the charts in the Elite room? I tried to make my own chart but it looks different than Lori’s in the room. Can you help me with that?

Thanks! TZ


#11

Here is screenshot of Sharpshooter 5 min

Placed working order Buy for 117.71 for $50, it got picked up minute after and expired in the money. Is this how it is done or I just got lucky here?

Thanks! TZ


#12

Here is one more. Placed sell order for $50, it got picked up and expired in the money.

Thanks!


#13

Here is another trade. Entered sell order after the bar closed at 1.0901 for $50 and set profit of $40. Thanks! TZ


#14

For what it is worth, I don’t know. I don’t play ball in that field. I do know from experience that you Should Not be letting these 5 min binaries expire. Win some now and then but the odds are against you. Go for a $20-$25 profit and Get Out. TZ, as soon as you are in a trade you should be setting your Take Profit. I have been burnt way to many times,and I am positive others will agree.


#15

I lost this one. Placed sell order @ .6983, it got filled immediately and expired at 0.69834. I had profit set to $40

Thanks! TZ


#16

TZ maybe you missed my post on what I suggest you do. Binaries is not on the list. Ecspecially not 5 minute binaries.

They are easy to understand and much more advanced to trade.

Why are you not focusing on spreads?

My biggest suggestion is the reality that though the “action” of 5 minute binaries is “exciting”. You will find much better success out of the gate with spreads than binaries and need to learn to trade spreads as you can trade them day or night. Your only going for $20 or so profits. That means you only need like 20 ticks of profit thats not that hard to get on a spread. You can risk less, make more, and have better ratios. https://forum.apexinvesting.com/t/izone-sharpshooter-set-up-and-rules/4415


#17

Agree with Darrell, do spreads, bins can come later. with those, do the longer time frames first.