As I was doing some trading earlier today, I noticed the weekly expirations and started thinking: are there any strategies that utilize the weekly’s that might be a little more “casual” and less stressful than intraday trading? What I mean by that is perhaps checking charts once a day looking for trading opportunities. But after researching this on the forums a bit, Apex seems to have quite a bit of disdain for weekly Nadex contracts. There have been a few posts of people asking about them and the response is usually something like “why would you want to when you can make money in an hour or even 15 minutes?”. Well, I can think of big reason:
I may be able to make money in as little as 15 minutes or whatever short amount of time, but I might have to spend hours at a time waiting for that chance, not being able to do much of anything else because I’m having to monitor multiple charts for the right opportunity (I can only trade in the evening so while there may be short bursts of activity, it’s usually pretty dead in my experience). It’s not so much that I mind waiting, it’s just the fact that I feel like I can’t do anything else or I’ll miss the trading opportunity. I feel like I have to be glued to the screen and it gets a little old sometimes. So, a strategy where you can just check in once a day or even just a couple times a day for opportunities would be great.
Now, the other thing that has been mentioned in these forum posts is that apparently, it’s a lot more difficult to forecast markets on a weekly basis because they’re more unpredictable the longer the time frame. I’m a little puzzled by this because this seems to be the exact opposite of what many trading experts out there claim. Many promote the idea that when you day trade, you’re more likely to fail than someone that trades the longer time frames. Many seem to favor the 4 hour chart, or the daily chart. Now, I know that Apex doesn’t use traditional time-based candlestick charts, but most out there do, and if these experts are to be believed, then there are many people that are quite successful that don’t “day” trade. Are these people lying? Granted, nearly all of these people trade traditional forex, so that makes me wonder, is it just binary options that are hard to trade on a weekly basis?
I would also like to say that I wish there were more resources for strictly night time traders (not necessarily a critique for Apex, but more the trading world in general). I know night time trading has been discussed on Apex here and there in various forum posts and webinars, but is there actually anybody that strictly trades at night that makes consistent money doing so? I work 12 hour days usually from 7 AM to 7 PM EST and I simply cannot trade during the day. So, I have to admit it’s a little disheartening to see all of these posts of people that are trading right and left during the day, reporting their winning trades. I’m happy for these people, I think it’s a wonderful inspiration to see the success that people are having, but in a way I feel that with my current situation that is unattainable for me.
I apologize if the tone of this post sounds negative or bitter; that’s not my intention and I’m not complaining about Apex. I’m mainly just writing to get my thoughts out and also to vent a little bit about the frustration I feel from time to time over trying to find success in trading.
