By Darrell Martin
Enter the words “5-Minute Binaries” into any search engine on the internet and you will no doubt pull up more information than you can use! There are plenty of brokerages, systems and websites willing to help you learn the ins and outs of trading this fast-moving option.
If you put in “Winning on 5 Minute Binaries” you will get over 45 million results! So why do some traders have a hard time being successful when trading 5-Minute Binaries, while others seem to be able to win?
“I can’t seem to win…Ever.” As a relatively new trader said “I can’t seem to win…ever. They are nearly impossible to get filled on and you would need to be extremely fast. There is never a good enough risk to reward.”
“I can’t get to the point of being profitable.” Another trader, also new, added, “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. Getting filled is not a problem, but it might not be at the price you want. I think you have to wait for the absolute ideal setup to be successful. You can’t force trades.”
“5-Minute Binaries are hit or miss.” One more trader reasoned, “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.) I have realized that even if I improved I would not be comfortable doing them live because of my account size, so I have switched my focus to the 20-Minute binaries. They move slower.”
Have a system you know and follow the rules consistently. From these traders you can see some of the challenges being faced by traders as they try according to their different abilities to trade 5-Minute Binaries. It is definitely a fast-moving market. In order to trade it successfully, you have to have a system that you know and follow the rules every time consistently.
“8 wins, 0 losses!” Some traders have had success trading 5-Minute Binaries. The first one is just a short note from a trader who had won all of his trades so far that day. He wrote that he had won at least $20 on each of seven out of seven trades on 5-Minute Binaries. The last one, the eighth trade, had been moving really slow and time was running short so he had chose to exit at a profit of $18!
“$800 in less than 30 minutes” The next one is from a more seasoned trader who said, “I have had a lot of success with 5-Minute Binaries. Generally speaking, with any system or market, the volatility of the market plays a part in the number of setups. Nighttime will see less setups than the morning hours. On Wednesday when FOMC minutes were released, I netted around $800 in less than 30 minutes using just three contracts at a time. With volatility being huge when the FOMC minutes are released, I went way OTM (Out of The Money) and grabbed $50 profits over and over. Yes, I had some losses included in there, but it’s about having an idea of what the market may do (watching for news) and acting on it. Its about being patient and waiting for the trades. If you try to force it, you may as well just hand the market makers your money.”
“Loves trading 5-Minute Binaries” She goes on to say that she loves trading these 5-Minute Binaries! It is just playing, it can’t possibly be trading because trading is supposed to be boring! This is too cool… Ten trades = net $990.
It is possible to have success in the fast moving 5-Minute Binary market. You have to have an expectation of what the market will do, be patient and not force the trades. Pay attention to the news that could affect whatever markets you are trading. Wait for the right trades to happen. If the proper signals aren’t in place, don’t take the trade. Know your system and follow the rules. Until you know your system and your strategy, demo trade it. As with anything new, invest the necessary time to learn the ins and outs of how to trade 5-Minute Binaries.
If you would like to learn more about trading 5-Minute Binaries, go to apexinvesting.com, a service provided by Darrell Martin.