Tuesday, January 7, 2014

A Day Trading Binary Options

I thought I would post a chart of my trading from Sunday. The only strategy I really used was price action. I traded the GBP/USD mostly (also went 2/3 on EUR/USD trades but didn't keep the chart) 
From freestockcharts.com GBP/USD from 5-11pm Sunday, 5 min chart
I had a great day winning all four of the GPB/USD trades, making a total of 5/6 for the day. The first two trades were off the support line around 1.64000. Both ended easily in the money.

For the third trade, I noticed a relatively large candle headed toward the support line. Once price pasted the support line, I placed a put option because it seemed like a good breakout trade.

The last trade is a call option of a previous support line.