Trend Catcher 20-minute binaries journal - comments please


#1

OK, so I kind of fell in love with 20-minute binaries yesterday, using a 6-tick Diagnostic Bar chart with Trend Catcher. I find them a lot less nerve-wracking than the 5m binaries, and I had some limited success on my first demo day with them.

For both selfish and altruistic reasons, I thought I’d share all my trades from yesterday, in the hopes that some of the local experts could comment on entries - good or bad - and just to sort of force me to track everything in detail for my own benefit.

Here are the rules, as I understand them:

Method 1 - Trend Catcher (TC) Flips

These 3 ALWAYS apply

  • Close of bar MUST match TC direction

  • Cyan/pending bar MUST close in same direction as TC

  • Cyan/Pending bar MUST take less than 3 minutes to form

ONE of these must ALSO be met

  • Volume exceeding expectation

  • Velocity Firing off (long or yellow bars in the velocity indicator)

  • Follows color of APEX pattern

Method 2 - In Between Flips

These 3 ALWAYS apply

  • Follow Trend Catcher direction

  • Bar before entry MUST close in same direction as TC

  • Bar before entry MUST take less than 3 minutes to form

ONE of these must ALSO be met

  • Volume exceeding expectation

  • Velocity firing off (long bars or yellow bars in the velocity indicator)

  • Sequential small timer bars

So… here are 9 screen captures with comments! :smile:

Comments, questions, suggestions? All are welcome!

Chart 1

Chart 2

Chart 3

Chart 4

Chart 5

Chart 6

Chart 7

Chart 8

Chart 9


#2

Bill

Great Job marking up the charts with such detail. That alone is worth gold because it will help anyone looking to help you figure out your thought process and offer guidance. Kudos man!

Without going into detail on each specific entry only because I haven’t reviewed each trade, in my humble opinion, what stands out immediately to me is that a lot of your entries lack that exceeding volume that is so important for momentum. It will work sometimes without it, but more often than not, without volume the price action will often reverse on you. The other thing I noticed is your notes show bar timer <12 minutes? Unless this has changed, TC on the 20 uses a bar timer of 3 minutes, as anything longer is also a sign of momentum slowing down.

You definitely have the concept and if you continue to demo you will see how the market moves and you will add in your own adjustments (style element of trading), but try using a bar timer <3 minutes and look for exceeding volume on your setup/entries (or velocity firing off with sequential small timer bars).

I hope this was helpful. You are doing a great job with them as it is, just tweak it a little and you will get there.

Peter.


#3

Thanks, Peter - very helpful!

Yeah, the volume (or lack thereof) stuck out to me, too.

I know the bar timer should be less than 3m for 5m binaries, so I extrapolated that to 12m for 20m binaries, since I didn’t recall seeing anything about that anywhere, but I will look out for 3m bars.

It’s just a bummer that volume has been so low the last couple of days, but it’s not like I can artificially pump it up, unless it’s just in my mind :smile:

Thanks for your input!

Bill


#4

OK, so I guess I should post the rules as I understand them, so I’ll just edit the original post.


#5

Yes, lack of volume can be a bummer. This is where having a couple of systems to work on the 20’s would be a good Idea. You can look into doing Iron Butterflies when volume is lacking and for times when volume is exceeding like crazy you can look at doing straddles.

A lot of different ways you can use the 20’s and TC is just one system. The thing about the 20’s that I love is that they are quick enough to satisfy my impatience and slow enough to help me realize mistakes and survive them. LOL!


#6

Peter, you’re reading my mind!! I was just reading through Creekcourse’s materials on iron butterflies and JUST now got to your post suggesting someone watch Darrell’s webinar on 20m binaries! You’re psychic!

You expressed my feelings exactly about the 20m binaries lol


#7

You know what they say…great minds think alike! LOL! :stuck_out_tongue_winking_eye:


#8

I would stick to 3 min limit even on 20 minute contracts


#9

When you have low volume collect premium focus on the ITM trades


#10

Reminder we have the 20 MInute Binary Hunter up in the Elite room now as well which is not as dependant on volume.


#11

Chart 1

Looks like a good trade just maybe a bit late to the entry why did you not enter much sooner close to 12:12?

Chart 2

Yes trade is accurate (5 yes okay). Remember a binary can only go to 0 or 100 it will go slower as it approaches 0 or 100. So an OTM ie around 30 or 35 will move faster than an ITM (so long as the market is moving) an ATM is at top speed and after about 65 it starts to slow down again.

Chart 3

Continuation trade fine - Where is your take profit?Looks like your going for to much and you turned a winner into a looser.

Should have taken profit on the short, then on the flip done a ITM and should have been profitable.

Chart 4

Not sure what you mean could not get any thing from an ATM contract Your only going to pick up 10 to 20 on a ITM contract. $20 to $25 is the max we go for and often profits average closer to $15.

Chart 5

Why are you entering 1 minute before expiration? Bar closed new 20 minute range forms low not broken?

Why did you not go short back around 14:10? that was the entry for the short this looks like chasing a trade.

Chart 6

Trade Looks fine

Chart 7

Dont push those OTM with that low volume :slight_smile:

Chart 8

Looks Good

Chart 9

Good trade


#12

Thanks a LOT, Darrell! I really appreciate your comments - exactly what I needed. Time for more practice. :slight_smile: