The price was telling clearly what it wants to do, but sometimes youll be stopped out before it gets there, hard pill to swallow but no way to get around it.
Some ask stacks with takeouts or continuations on USDCNH today (10 sec). Generally those are best tradeable with options rather than spot FX since RR on spot is not too good unless the trade is held for a solid run.
Some ask stacks with takeouts or continuations on USDCNH today (10 sec). Generally those are best tradeable with options rather than spot FX since RR on spot is not too good unless the trade is held for a solid run. {image} {image} {image} {image} {image}
Ignored
I might got this wrong but I checked IQ the payoff is between 70% and 90%. Doesn't that mean that your RR with option/digital is always less than 1?
{quote} I might got this wrong but I checked IQ the payoff is between 70% and 90%. Doesn't that mean that your RR with option/digital is always less than 1?
Ignored
Technically yes that is true, that is why binary options are the hardest instrument to trade. You need to use some tricks to get that RR above 1 such as cutting loses quickly, which also means you need to understand well how the patterns behave to get best aprox RR out of trade.
In either case it doesnt matter for me at least anymore, since July 2nd binary options are banned for EU residents apparently for being "risky" product. Wierd arguments sometimes used by regulators, technically anything that is used without having a proper knowledge on it is a risky asset, wearing a knife in pocket is a risky asset but that doesnt means knives should be banned just because someone uses it that way. Ergh....
{quote} Technically yes that is true, that is why binary options are the hardest instrument to trade. You need to use some tricks to get that RR above 1 such as cutting loses quickly, which also means you need to understand well how the patterns behave to get best aprox RR out of trade. In either case it doesnt matter for me at least anymore, since July 2nd binary options are banned for EU residents apparently for being "risky" product. Wierd arguments sometimes used by regulators, technically anything that is used without having a proper knowledge...
Ignored
Yeah I can feel you. However most people don't realize that binary options can be more difficult cuz you need both direction and timing, and brokers only emphasizes that traders can only lose premium, which gives a false feeling of protection.
EURUSD B quality play, but went with a very tight 0.5 pip SL placed bellow tiny micro shelf. Worked well, sold 30% of gains the rest break even, overall 0.6 R gain.
{quote} Yeah I can feel you. However most people don't realize that binary options can be more difficult cuz you need both direction and timing, and brokers only emphasizes that traders can only lose premium, which gives a false feeling of protection.
Ignored
One basically finds out how good your price reading skills are only in binary options, as you said because there you need to be sharp on timing and direction and not just that but also the scale of volatility which is another factor. There is however a big difference between being good at price reading and being a good trader, one can be profitable with being not so good at price reading, but you cant be profitable by being bad trader (discipline, risk and trade management etc...) and the option markets do highlight that much more than spot or equities or futures.
Shorted another ask stack on USDCNH, so far 8 profitable scalps on it today. For sure an interesting asset, trades a lot different to most other currencies especially in last few months of escalation.
(binned per thread starter's request) Market bottom rotation trad
