Tuesday, 28 October 2014

How To Trade Binary Options with Trading Predictor

This is an update as to how I am trading binary options with the Trading Predictor software.

I know that the good people over at Trading Predictor have released some new videos and an updated user manual, which they send out to all users, so if you are having success with that, then all good.

I am just showing you how I am now doing my day trading of binary options using the Trading Predictor software. It is working out pretty good for me and so it might give you some ideas. Please make sure that you read the Trading Predictor manual before attempting this strategy as you will then see where I am coming from.. They give it to you as part of the members welcome pack when you join.

The first thing I have done is to put all my charts on a virtual server and on the M5 time frame. I am using Amazon Web Services, EC2 now and it is the best VPS that I have used so far. http://aws.amazon.com/

You can get a free one as well,  but I find that free one really slow. Costs me about $15 a month for an extra windows computer so now I can free up my laptop and makes everything much much easier for me, as you will see.

You can click on all images to enlarge.

My charts on my VPS

This is what I have on my charts.

Chart set up with Trading Predictor on VPS

Now the most important part of this is that I have my Trading Predictor (TP) alert set up to send me an email alert when there is a Diamond Alert on the M5 chart.

The template for this is in the forum called Trading Predictor..

So, that is the first part on how to get your signals delivered to your inbox.

Setting up my MT4 charts on my own computer.

Now for every currency pair that I trade, I have it set up as a profile on my MT4 on my own machine.

Profile Binary Options Trading
Profile set up for each currency pair
Obviously there are a lot more  that didn't fit in on that screen shot.

And this is how the profile looks for each currency profile.

Charts for trading binary options
H1, M15, M5, M1 click to enlarge
So, I have four charts, the H1, M15, M5 and M1 charts and on each chart it is slightly different.

H1 Chart

H1 chart for trading binary options
H1 Chart
Trading Predictor
CHT Value Chart
Sonic FFCal News Indicator
P4L Clock
Ichi Monitor

M15 Chart

M15 chart binary options trading
M15 Chart

Trading Predictor
Damiani Voltameter
Average Daily Range Pro 

M5 Chart

M5 chart binary options trading
M5 Chart

Trading Predictor
Damiani Voltameter

M1 Chart

M1 chart binary options trade
M1 chart

Trading Predictor

Right, so I had actually received an email alert a little earlier as I was making this post. No need to even open the email alert as you can see immediately all the necessary info.

email alert for trading binary options
email alert looks like this
This comes into my inbox. So straight away I go onto my EURCAD profile on my MT4 that is on my machine and open it. I also actually have my remote desktop connection open to my VPS, so I also heard the alert, but the main thing is the email alert.This means that you can receive the signal directly to your phone if you have the text messaging set up on your phone or direct to your inbox.

So when I open my profile for my EURCAD I see this:

eurcad chart for binary options trading
The Strategy:

First thing I check for is to make sure one of the markets is open. I do this by taking a quick look at my P4L clock on my H1 chart.. Yes Europe is open.

Ideally I would like to see 4 Diamonds, but the minimum to see is 3x Diamonds all pointing in the same direction on the M15, the M5 and the M1. Yes we have that. If I don't have 3xDiamonds, no trade.

I make sure to open each chart, starting with the H1 and check if there is any high impact news coming out that could sabotage my trade. I do this by checking the Sonic FFCal News indicator.

No there is nothing.

 I dont like to put a trade on for at least 30 minutes before a high impact news and at least an hour after that news.  I usually just skip the signal  altogether if there is high impact news for that currency that day and wait for something else.Why not? I want to reduce risk as much as possible and there are always lots of good signal line ups during the course of the day.

On my M15 and M5 charts I like to see the grey wave going in the direction of the direction that I want to take the trade in, so in this case up. This is also recommended in the Trading Predictor manual.

Next I just take a look at any support and resistance lines on my FiboPiv and also on the Average Daily Range Pro calculator which shows the weekly highs and lows and middles. Ok so it is all happening around the Support 2. Looks like a place that it may pullback/bounce off.

Then, are the Diamonds below the orange boundary line on the Trading Predictor? Yes on the M1 and M5 and very close on the M15. That is good enough. Just remember that it must be so on the M1.

Ok, so now we are waiting for a Ruby to appear on the Diamond on the M1....waiting....

Now, this is an extra step, that I take, to confirm that I am going to take the trade if the ruby appears.

I look at the Damiani Voltameter on the M15 and M5 charts.

What that Damiani Voltameter does is a mathematical calculation to decide if there is enough volatility in the market. Very easy, the green line must be above the silver line. It will actually tell you, either trade or no trade.

I will only enter a trade if both the M15 and the M5 Damiani Voltameter both say Trade, that is the green line is above the silver line.

Right, so in this next image, the Ruby has appeared below the Diamond on the M1 chart. 

ruby has appeared binary option trade is taken
Ruby has appeared below the Diamond M1 chart

All criteria are met, so let's get a trade on.

EURCAD Call Trade Taken

So, EURCAD call trade taken on the 24Option platform. Got on for a 12 minute expiry time.Usually looking for a 10 - 15 minute expiry.

Gold Coin:

gold coin binary options trading
Gold Coin appears on M1 chart
Ok, in the above image, you can see that the Gold Coin has appeared a couple of minutes after the Ruby appeared on the Diamond, so you would be fine to also enter now, according to the Trading Predictor Gold Coin strategy.

However, I am more of a fan of the Ruby and generally only take trades once the Ruby has shown itself and especially when it appears on the Diamond as in this trade.


EURCAD winner binary options
Winner, winner, chicken dinner. 12 minutes later and we have come good.

What about longer trades and scalping?

Definitely, but I only take longer trades and scalping forex trades if I have all Diamonds showing in the same direction on all 4 of my charts. 

So, there must  be a Diamond on my H1, M15, M5 and M1 charts and then I will take my entry off the M1 if I see it.

If I miss it for some reason, then I will take it from the M5 once the Ruby shows up on that time frame. I have found about 35 minutes is good.

If I have to take it off the M15 then between 45 minutes to 1 hour and 15 minutes works out good.

For trades off the H1, then an expiry for the end of the day works out good.

For trades lasting longer than a day, then I use my Market Club strategy, which I will put up for you shortly.

For scalping, it is a little different and I will make a post about that specifically, but to summarize it briefly, it also involves making sure that your H1 and M15 EMAs are in the same direction as your Ichi Monitor Arrows (13 or more) and a risk to reward of 1:3, but as I say, I will go into detail in a separate post.

Final Thoughts and Pointers

If you stick to the strategy (discipline and patience) as outlined above, using the Trading Predictor software and set your charts up as I have and most importantly make sure that you are trading with a Money Management (MM) strategy like I suggest over here, then there really is no reason why you can't get the same results as me.

I know that some people that I speak to think that the Trading Predictor is a bit pricey at $9 for a two week trial and then $129 a month thereafter, but really, if you just stick with this one setup and strategy and master it you will be successful and that $129 might well be the best  investment you make for running your trading business.

The other indicators and templates are available for free download in my forums for members. If you are not yet a member, you can read here, how to become one.

Also, I only have my charts on my VPS on the M5 timeframe when I am going to be day trading. Otherwise, I leave it on either a M15 or H1 timeframe. I have profiles set up for those time frames as well, otherwise your inbox is going to be flooded with email alerts.

Of course you don't need a VPS,  it just makes my life easier. You can just set up everything on your machine.

Here is the link to the Trading Predictor site.

How to Set Up the email or Text Alert function in MT4 for Binary Options Trading

This is how I have set up my email alert function on my Virtual Private Server (VPS) MT4 to send me an email alert to my inbox when I get an alert on my Trading Predictor M5 chart that a Diamond has appeared. You can also set up a text alert directly to your phone.

Of course you don't have to have a VPS, but it just makes my life easier. As long as you have a computer that you can keep running all the time, then you can also use this method to get alerts delivered to your inbox or text alerts directly to your phone from your MT4 platform instead of watching the screen all the time.

The VPS that I am using is the EC2 from Amazon. http://aws.amazon.com/

If you have a VPS then download your MT4 to it or on your MT4 on your machine that you have on most of the time, these are the steps.

First you will need a free email from http://www.gmx.com/

gmx free email account for binary options trading

This is the only free email account that gives you the info for the SMTP server. (That I know of)

So, go ahead and sign up for a free email account so long and of course make a note of your email  address and password (obviously lol). I would suggest only using this account for the task of acting as your email server for MT4 and nothing else.

Right, so I assume that you have done that.

Next,  we need to input your new gmx.com email info into your MT4 so that it can act basically as your email server.

Go to your MT4 platform, either on your VPS or wherever your MT4 is that you want to install this function.

Select >>Tools from the top menu and then Options from the drop down menu..

tools options binary options

Once you have selected Options, a new box will open. Select the email tab.

email particulars
Very first thing is to make sure you put a check or tick in the Enable box.
Now fill in the particulars as shown. That is a screen shot of mine, so you will need to add in your own particulars. The only one that we will have in common is the SMTP server info.

SMTP server:         mail.gmx.com:587    (that is a colon :  between com and 587)
SMTP login  :         your new gmx.com email address that you just created
SMTP password:    your new gmx.com email address password that you just created
From:                     your new gmx.com email address that you just created, put it in again
To:                         the email address of the inbox you want the alert delivered to ( I have it sent to my gmail)

If you did not want the message sent to your own email inbox, but instead directly to your phone, then you need to insert your phones text messaging address in the To: field.

Your phones Text messaging allows you to receive emails as text messages on your phone.

To find out what your phones text messaging address is, just send  a text message from your phone to your own personal email address. When you receive it, just look at the from info and that is the address you need.

This is how mine looks.

text address binary options
with text address
So, mine looks like this, +669891462142@mms.ais.co.th

( I changed the number as I don't want all and sundry phoning me, but that is what it looks like) Everything the same , except for the To field address.

Now I prefer the email option as I find the text messaging can be rather delayed, but which ever one you chose, send off a Test alert.

Then click on OK.

Hopefully you now received an alert in your inbox.

If you are having problems with the Text alert, then contact your service provider. (and not me)

Now assuming that all went well and you actually used the template that you downloaded from the forums, then you should be all good to go as I have it all set up.

If not, then you need to make sure that your Trading Predictor is set up to send email alerts.

Right click on a chart on your MT4 and Select >> Indicators List

Then Select >> TP7 from the box that appears and then Edit.

TP7 Binary Options trading
Then in the next box that opens, make sure that where it says Email Alert, that it is set to True.

Email Alert Set To True

Again if you are setting it up yourself then once you have done that save the chart as a Template and apply it to all your charts, then Save all those charts as a Profile.

Of course, this is how you set up email alerts for any indicators that you have, so long as they offer the email alert option.

Tuesday, 21 October 2014

Binary Options Chat and Forums

The Binary Options Trading Chat and Binary Options forums are working again.

Please let me know if you have any problems logging in.

Monday, 20 October 2014

Binary Options Trading Chat Room

Having a few server issues with the Binary Options Chat Room. I have the server guy working on it now.
Hope to have it up and running in the next few hours.
I will post here when it is up and running.

Friday, 20 June 2014

Binary Options Software That Actually Works - How I am setting up my charts for Binary Options trades.

Following up on my post about Binary Options Software that actually works, I would just like to give you an idea of how I am setting up my charts for binary options trades.

Firstly, I have installed the TradingPredictor indicators onto my 5 Minute chart and then added in all my usual advanced indicators onto the same chart, one by one and then saved the chart as a template with a unique name.

Then, I have installed this new template onto all my usual charts and saved it as a unique profile.

click to enlarge binary options charts with TP

This is an example with having just one screen, if you have two screens you can do it a little differently from this.

Then I just wait for a signal from TradingPredictor and take a look at the chart the signal was given on.
Doing it this way, I can still keep an eye out for my own strategy and the TradingPredictor strategy, so in effect I have two strategies running at the same time.

click to enlarge  EURCAD TP signal

So a EURCAD TradingPredictor  signal came in.

What I do is open the chart and have a look at it. What I can see is that it is in a downtrend, but looks like it might be hitting a big resistance area at the Support 2 level ,as given by the FiboPivot indicator and the Diamond has appeared below the orange line.

I prefer to trade in the direction of the trend if I have a choice, so basically on the continuation of a trend after a pullback, but in this case it looks like it might hit a resistance level and make a pullback.

Time to take a closer look.

What I have done is to make a profile for each individual currency pair that I trade.

click to enlarge for unique profile set-up

So as you can see it is 4 charts. 

Sunday, 15 June 2014

Binary Options Traders - A Free Stock and ETF Report

Yes, this is a Binary Options and Forex Trading website, so I guess the heading of this post; Binary Options Traders - A Free Stock and ETF Report might sound a little out of context to you, but just bear with me for a minute and all will be explained.

Over the last few months I have been receiving these Special Reports on various Stock Picks and Sector analysis from the good people over at INO.com. If you don't know who they are, well Adam Hewison, the co-founder of Market Club, well that is his company.

Now call me a skeptic if you like, but when I hear the words "Stock Tip"  or "Stock Pick" I immediately think Pump and Dump.

You know that old scam whereby they get loads of newsletters to talk up a stock, the Pump part, usually penny stocks to be honest, and then as the price goes up, the guys who bought thousands of shares for pennies are the ones cashing out by selling on the hype as the price climbs up, The Dump part,  and next minute the bottom falls out of the price, and there are a lot of people holding stock that they paid dollars for that is now worth pennies.

However, looking back at the results of their analysis and the actual plays they recommended, I am quite impressed.

I just received their latest report called "Bring Your Portfolio Into the 21st Century" and it covers their analysis of a whole sector, an ETF play and a Hot Stock pick. I know the Stock well and most probably so do you as you most probably use it on a daily basis without even thinking about it.

Anyways, I don't really want to say anymore, as it is a Free Report, so if you are interested you can read it yourself.

Thought that I would just share the info as they seem to be pretty much on the money and as I like making money as much as the next guy, I am going to do my due diligence and maybe have a small punt and see how it goes.

Here is the link for the free report

You have to put in your name and email and then you get instant access to the report.

binary options stock pick