Binary Options
I am a U.S. Citizen. I have traded all sorts of products over the past 15 years. Now I am trading Binary options on FX there are only 2 legitmate places in the US to trade them. One is IG Markets and the other is NADEX , NADEX is actually a regulated exchange by the cftc and nfa. Both are good places to go. Now IG actually owns the licsense for cftc/nfa exchange regulation of the NADEX exchange. So they are both legit and do not manipulate prices. I love the Binaries. I used to scalp e minis and forex for a bunch of years, I trade full time by the way. I am totally onto Bianries now. While sure there are pros and cons but its a lot easier and less stress free. I hope they will catch on as they do in the UK. I know trade off the 30 min chart instead of the 1 and 5 min charts like I used to. I use pivot points for my trading and trade with the trend from level to level. Sometimes I hold the binary till it expires and sometimes I sell out. These binaries are not like EZ trader ones these at IG and Nadex TRADE LIKE a stock. You can buy or sell them whenever you want. I dont try and find ones that are at 90 and expiring at 100 and just buy them becuase they have a great shot of so called free money.
I tend to try and find where it migh move next toward a pivot or s/r line and generally buy at 50 or below and short at 50 or above. I actually do put in stop losses and not let it expire against me. Dependin on the atr I might take off a trade when I make 30 points or so or let it expire. Plus you do not have to worry about a errant spike or stop hunt that hits ur stop loss. These are great ways to make money and just not for newbies. You can make money with less stress. You dont have to be right by 50 pips to make 50 pips. You have to be right by 1 pip to make 50 or 60 pips. The flip side is you can be wrong by 1 pip and lose but thats where money management comes into play. I do not trade hourlies like eztrader. Nadex and IG have them every 2 hours or so and I generally use those for news events to fade moves. When you fade moves you can have extremely positve reward to risk. Sometimes you can buy at 10 or short at 90 giving you a 9-1 reward risk. Bainries also limit the risk and the worry. I use them for breakouts as well in different sessions. Just a matter of doing some research on how the trade and not treating them like gambling. One great point is the regulation coming down the pipe will not affect binaries , whether its a transaction tax or the new 10-1 margin rules. These are fully collateralized meaning we have no margin we fully pay for our position. It doesnt take a lot of money to make money, there are a lot of strikes and I heard thru the grapevine that soon IG markets will offer them for us clients in addition to what they already do with the currencies, they will offer indicies and commodities as well, NADEX already offers all of that. So If anyone would like to discuss binaries or trade them whether in the US or overseas please speak up , would love to have some one to chat with about them.
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