New Trader Lone Island Misconceptions


#1

I came to the conclusion that 5 minute binaries offer no advantage at all. Even with the trend catcher, I can’t seem to win…EVER. I have reviewed the training a few times. I follow all the rules. Their nearly impossible to get filled on and you would need to be extremely fast. Also there is never a good enough risk to reward. I think this is a way for Nadex to rack up on fees. Just my opinion. Anybody else feel this way? Also is there something you would recommend? I would love to learn.


#2

I have a similar opinion. Although i have managed to win occasionally i can’t get to the point of being profitable. My win ratio is horrible despite following the rules. I have watched webinars and reviewed the course several times. I have practiced and read comments on the forum. Getting filled is not a problem it just might not be the price you want. You can just set your order well below the expected price for that strike at the time you pull the trigger. I think you have to wait for the absolute ideal setup to be successful. You can’t force trades and you probably should start off only taking fresh tc signals especially with exceeding volume and momentum. Hope this helps. You also should hang out in the nadex pit and ask Lori and others questions.


#3

For me, the 5 minute binaries are hit or miss. I don’t win enough to be profitable and I guess that will come with more practice. I do wish I was able to trade them well enough to be profitable because I see how these could be great. Not much movement is needed to grab a quick profit. Sometimes they do move really fast (too fast for me at least). On the ones I do get in on, I don’t usually have a hard time getting filled. When I open the ticket I just set the price a little higher for a buy or a little lower for a sell so as soon as I see the TC confirmation I click place order immediately and get filled. I have been practicing them, but realized even if I improved I would not be comfortable doing them live just yet seeing as I am starting with a smaller account size. So my focused has switched to the 20 minute binaries with TC. They move slower and even if it goes against me a bit, I’ve found there is enough time that it comes back to hit my take profit. So maybe give the 20 minutes a try if the 5 minutes are too fast.


#4

Brandon, I wonder if it would help you to finish taking the entire 5-min TC course. I see you have not completed it all yet. I have had a LOT of success with them and totally do not understand how you can follow the very same rules that I use to trade them (those that are in the course) with such different results. Have you ever posted your charts with questions in the pit? There may be something you are doing or not doing or seeing or not seeing that is hurting you.

Nedster…Sounds like you may need some tweaking and your rates should turn around. I would be happy to help with that if I can in any way.

Generally speaking, as with any system or market, the volatility of the market plays a part in the number of set-ups. Night-time will see less setups than the morning hours for example. On Wednesday when FOMC minutes were released, I netted around $800 in less than 30 minutes using just 3 contracts…yes, live. With the volatility being huge when they release FOMC minutes, I went way OTM and grabbed $50 profits over and over. Yes, I had some losses included in there also. It is about having an idea of what the market may do (watching for news) and acting on it…or being patient and waiting for the trades. If you try to force it, you may as well just hand the market makers your money just like any other system.


#5

I see what your saying, and I appreciate your response. I guess i just believe the 5 minute binaries are not serious way to make consistent money. I think Nadex should keep it clean and not try to stoop down the offshore binary option’s level. Its almost like a game of roulette. you can’t really make a wise choice trading the 5 minute expiry. And I’m sure you can make some fast cash but the question is can you do this consistently or will you just have to get lucky every once in a while to really making long term money. I think this was a stunt by Nadex so they can get more commission.


#6

Brandon, actually the exact opposite. A lot of Nadex traders are part time traders that have full time jobs. They cannot sit in front of the computer all day long and trade. So hourly expiration binaries provide only a very limited amount of trading opportunities for part time people or people just getting stated in trading. The 5 minute binaries solve this issue! Whether trading 5 min, 20 min, hourly, daily , or weekly binaries they all work the same, valued the same, and move the same. It is simply a matter of how much time you have to trade. Following the system requires following the system, which you cannot do if you have not watched the full step by step training course. The 5 minute binaries and 5 min binary trading system have been the most profitable binary training system we have ever had. I would suggest finishing the training course and checking it out again in demo.


#7

A serious way to make money is a very vague statement. Proper risk management with proper strike selection proper order submission and proper timing combined with a proper system are required. ie someone may mistakenly choose a $15.00 binary that is 5 ticks OTM with 3 minutes to go… umm yeah your going to lose most the time as i state it needs to be close as 2 ticks is not going to make you your $20 etc…

Nadex is not trading against you. They have no bias on either side. They are not messing with settlements withholding withdrawals. They let you exit before expiration. etc… so this comparison is baseless

Just because a 5 minute contract is offered does not mean its offshore like. A 20 minute contract, or a 2 hour or a daily contracted entered int he last 5 minutes is no different. (aka ETC/EPC strategies i teach). One could just as easily say since they offer daily options or intraday 2 hour the same thing. People thought the exchanges where crazy when they offered weeklies.

An exchanges job is to offer a anonymous and transparent pricing market free from bias of the outcome of a trade and offer products that traders desire to trade.

Your post are very conspiracy theorist if you don’t like em no one is making you trade em. But your conclusions have no basis in the reality and experience of the majority of traders here at apex that have completed the courses. Taken their time and learned how to master the speed of said contracts (which i emphasize in the course) and then went live on a low risk and are very INTERACTIVE in the room. Operating on a island after a few videos is a lonely place to be and a easy way to make false conclusions based on misunderstandings do to lack of experience. Don’t get me wrong we are here to help you.

We do have traders making consistent money doing this.

As you stated (and still have not completed the course on the submission part the most important) you do have to have speed and we made the scanner in such as way as to expedite that speed. If your waiting for the signal to find the contract and open it your to late you do have to think ahead. And there is plenty of time to do so with practice you just have to get the muscle memory down. But if you dont get involved in the room - main video in the course and get involved you should expect to have a rough time as there is a learning curve and that is why the room exist is to expedite it.