I am trading news with the strangle strategy. I wanted to get you guys advice. When news are coming out, what time should I place my trade, and at what time should my expiry be? I want to risk no more than $20-$30 each day. I also want the current price to be no more than 100 pips away from the underlying price. Also, what should I do if I can’t get in at a good enough price, and my potential risk ends up being over $20-$30? Should I just not trade for the day?
Hi, You may have already figured out an answer to your question by now, but if not, I wanted to share the following with you. It is an older article, but I think it will still help answer at least some of your questions. https://forum.apexinvesting.com/t/three-things-to-consider-when-trading-a-binary-strangle/5447
It is never a good idea to force a trade that doesn’t follow the rules of your system. That doesn’t mean you have to give up trading for the day, but look elsewhere for a trade that meets ALL the requirements of your trading plan. Be sure you are demo trading to mastery before you are risking real money. And have several tools in your tool kit so you have various ways to trade the market. Here are a couple more articles for your consideration. https://forum.apexinvesting.com/t/strangle-i-would-love-to-strangle-something/3034
https://forum.apexinvesting.com/t/this-isnt-mini-golf-play-with-more-than-one-club-when-trading-nadex-binaries/3031 Be sure you are investing the time to learn! I hope this helps!