Hi all, I was demoing TC last night and its coming together, but I still have questions. As far as ITM, ATM, and OTM, im still not sure when to look for what contract. Are there certain criteria that would make one suitable over another? I was finding that the price was moving so fast that an OTM turned into an ATM in a matter of seconds, so while you may have intended it to be OTM, you bought it closer to ATM. so why would you bother trying to do OTM at all? Or maybe im doing something wrong? Also, im wondering about the stop trigger. I dont see it utilized in any of the videos, but darrell says you may need one if the market flips.I have the plugin as far as I know but the stop trigger button is not showing up on my tickets in the scanner. Am I missing something? Thanks for the help!
Questions about contract selection and stop trigger for 5 min binary TC
The stop trigger function is not used unless you went ITM. If you chose an ITM strike, you might want to set a stop loss with the stop trigger. That is the only place you might use the stop trigger.
Regarding how to choose and OTM, ATM or ITM contract in a 5-minute binary, that is a matter of what you are comfortable risking. Some people use OTM, some ATM and some ITM. You should demo them and see what works for you and see which risk you are most comfortable with.
As far as choosing ITM/ATM/OTM strikes is there a certain movement you are going for on 5 minute binaries? I went through the TC course, but didn’t see much mention as to what you were looking for. Are you supposed to just hold them until close to expiration(decide before lockout if you want to stay in or not?) I see with the futures people are going for 5 ticks, is there something similar for using Nadex binaries? Just wondering if there is a way to stay consistent with entries/exits. And I just wanted to clarify, if you are taking the trades using binaries do you enter once the price hits the TC line? I am exploring TC, I had used APEX in the past, as this looks like it might fit my trading style scalping(with Nadex binaries if possible). Thanks.
Darrell talks about muscle memory in one of the postings. Is that to say a person should habitually act as soon as TC short or long alert is fired (and meets the rules) you quickly fill out order ticket (that is pinned on the sidelines) based on your risk profile i.e. ITM/ATM/OTM strikes & time to expiry. Then after placing said you immediately create working order that will exit with pre-defined profit?
A second query in the same post. In determining ITM/ATM/OTM strikes what’s best;- doing a comparison between spot price and strikes available or simply looking at the fluctuating prices and reading those up to mid 40s as OTM, mid 40s to mid 50s as ATM & the rest as ITM? When you may have only a minute or seconds to decide the latter would definitely suit.
ffpm03 , I would encourage you to watch the complete 5 Minute Binary Training course. We spell it out very clearly to never hold to expiration. That is made extremely clear in the videos, We never ever hold till expiration with 5 minute binaries. We enter a trade then right away put in a take profit order. Futures people going for 5 ticks is a complete different system, instrument, and training and has nothing at all to do with binaries. So please take the training course for all complete step by step info.
Bratex: Yes you should always have your ticket open and filled out ready to go so that you can pull the trigger as soon as you get your entry confirmation. As far as choosing OTM-ATM-ITM- that is a matter of personal choice as stated in the videos. We can teach you how to trade but can not tell you exactly which contract you should always trade. Each trader is comfortable with different contracts and risk tolerance etc. If you only have seconds to go though you may not want to OTM especially if the market is moving very slow
Ok mark, I must have missed that, trying to watch the videos and an active one year old must have distracted me! I’ll go back through the course again. I haven’t traded the 5 minute binaries on Nadex, only 2 hour ones, so I wasn’t sure if there was a certain amount of movement that you expect/shoot for. Thanks.
When placing your trade, should you get in exactly one tick above or below the cyan bar on the chart or wait for it to be one tick above or below on the indicative?
your chart should be using whole pips not 10th pips
entry is according to rules
we aren’t using the indicative to determine the entry we are using the underlying
“your chart should be using whole pips not 10th pips”
Thanks for the concern, but i’m 100% good on this one.
“entry is according to rules”
lol
“we aren’t using the indicative to determine the entry we are using the underlying”
Thank you.
if your using 10th pips your not following the rules - the rules are whole pips - not using “indicative pricing” but using actual underlying
Hi There:
I am a very new Essentials member. I have watched the Binary TC courses regarding 5 Min Binaries multiple times and just as the member who asked the question initially, I find myself in the same boat. I have my 4 charts configured and set up, I have TC configured and set up, I have the “rules” actually printed and sitting in front of the monitor I have my charts on and I have the “take profit” parameters printed out as well so I can look at both until they both become second nature.
BUT, deciding which contract is the most appropriate, is the piece I find the most frustrating and elusive. And I can’t wrap my head around how the only determining factor is simply which level of risk a person is comfortable with. There has got be more factors that go into the decision of which contract to pick. I mean they all carry risk, so what additional evaluation needs to occur to narrow down the selection of contract. There has to be some way to evaluate which contract at which price has the greatest chance of reaching those contract price levels with the charts and indicators and bars and trends etc… or is divulging that considered to be the holy grail?
I was wondering if at some point, a video could be put together that might illustrate how to do this. I don’t mean simply a “live” video recorded and shown, because the trade moves way to fast to be able to actually grasp and digest whats happening. But, if a few trades we recorded and presented as screen shots, at the various stages of the trade and contract selection, and then used in a series of stills illustrating each step and indicating what would go into picking a specific contract. I’m not sure I adequately explained that but it’s a rough idea.
Thanks for listening to me ramble!
The tips provided with live trades recorded explained executed as well as a variety of tips can be found in the post here: https://forum.apexinvesting.com/c/s10-systems-trend-catcher/5-minute-binaries
As explained in the training if you want to trade the 5 minute binaries you gotta reas tge pitch and choose what to swing at ir not. Its not abc… this strike all the time. Every 5 minutes is awesome and we have traders that love them. Make sure you have read the tips in the forum. Markets are not static the tips go beyond the rules about how to read the pitch when choosing the strike. At the same time as cool as they are you have to be on the tip of your toes. People straight up love them or hate them. If your undecided or on the hate category … then choose Spreads … they may not seem as exciting but its a lot easier the contract is exact and known and its is a lot easier to be consistent. You can do in spreads what i show on futures easily on tc with Chop filter and mvp for scalp and trend olus elevator trades slingshots profit poppers etc… nq and gc have super tight bid offer spreads.