Question about Binary Hunter Entry

#1

Hey all,

Iā€™m a former Apex member who has decided to give trading another shot. :smile: Thereā€™s been a lot of changes since I was last on here, quite exciting! My question is in regards to the binary hunter entry rules. Iā€™m not sure if Iā€™ll explain what I mean correctly, but here goes:

Can I take a trade on a trend continuation if there is no retrace to the thick blue line? Say that everything else matches up; volume is exceeding, itā€™s above/below the gold line, the other thin line is the appropriate color, etc. If I get a bar thatā€™s in the direction of the trend with all of these criteria, as long as the next bar breaks the previous by half a tick and itā€™s not headed towards the end of the range, is that a valid trade? I hope that makes sense! I wish I had a chart to post but I donā€™tā€¦Iā€™ll work on that.

I know that the recommendation is to start with IZSS and spreads, but I have chosen to go with binary hunter (at least for now) for a few reasons:

  1. Iā€™m an impatient person. Try as I might to be more patient, it just aint gonna happen. I need action to feel like Iā€™m getting somewhere and so the 5ā€™s are the perfect choice for me, and believe it or not, I tend to do my best work under a little more pressure. In the past, I actually had moderate success with Trend Catcher, but I just got burned out and needed a break. Binary Hunter charts seem to be semi time based (correct me if iā€™m wrong), and that couple with the simplicity of the rules for BH just clicks for me.

  2. For the past couple years, I have invested considerable time and energy to learn binaries and now that Iā€™m revisiting them I feel like that has paid off. Things are really starting to click.

  3. I find spreads to be quite confusing and even with the scanner, Iā€™m just having a very hard time wrapping my head around them, moreso than I ever had with binaries.

  4. I prefer BH to the binary sharpshooter. It just seems more clear cut to me.

For those reading this, you might be thinking ā€œwho caresā€, but I just wanted to illustrate that the decision to not go with IZSS was not just a whim.

Sorry for the long post; thanks for the help!

#2

noobie58,

I would say no. only because if the price goes behind that blue line it may be a sign of trend reversal. wait until it gets back on the correct side. 5mins will kill you in a short time and if youā€™re on the wrong side. boom youā€™re out. probabilities of winning the trade is better if youā€™re on the correct side of that blue line. Donā€™t trade just to trade. wait for the set-upā€™s and give yourself a better chance. you have 48 chances to trade every hour. wait for the set-up.

#3

Thanks for answering my question gregster007šŸ˜Š Youā€™re right, waiting for the correct set up is key, and I am guilty of forcing trades from time to time. Lack of patience is my downfall unfortunatelyā€¦