24Option is one of the first Binary Options Brokers to arrive in 2010. 24Option is regulated and uses TechFinancials Trading Platform, which is considered one of the best trading platform available to date. 24Option has superior payout which’s up to 95%, this’s significantly higher than other Binary Options Brokers which offers payout varying between 71% […]
Talking about stockpair.com, we could consider it as the king of stock pairs trading in binary options. Besides regular assets like Forex Pairs, Commodities and Indexes, StockPair also includes the trading of relative strength between 2 stocks. Stockpair is very similar to Forex that we look at the relative strength of two assets and measure […]
TradeRush was found in 2011 but it already looks like a mature Binary Options broker. Traderush has their headquarters in Cyprus, I don’t think there’s a big problem since I’ve always been using broker from Cyprus, so far they’ve treated me nicely. SpotOption is their chosen platform with at least 85 different assets and a […]
Goptions start offering Binary Options trading since 2009. Goptions doesn’t really mark its name at the time they appeared, however recently they have been making a lot of efforts to push themselves to the top of the chain. The brokers provide trading services to client globally with their SpotOption Binary Options platform, offer decent payouts […]
Maybe you are wondering why a financial strategy has the name of a lovely wooden doll from a tale – Pinocchio. Is it named with a purpose or just a joke from the founder of the strategy? Of course, this is not a joke.
The Pinocchio strategy is named that way because its mechanism is just exactly the same as one from the lovely wooden doll which is obsessed with lying. So here come the next questions: can a strategy lie? And if it really lies, how could that benefit us? Well, the answers are: yes, it can lie and we know it is going to lie, making it profitable.
Everything starts with a Pinocchio bar, or we could call a Pin bar which has a tiny body with a long nose (or wick). This nose functions precisely the same way as the little Pinocchio’s nose as it goes longer when the price moves in one direction and then retraces. As the wick becomes longer, the price will turn into the opposite direction of the initial way. If the price is up then the strategy is to go short and it is to go long when the price is down. The entry point is also diverse as it totally depends on the traders’ style. Some prefer to wait till the bar retraces to its 50% Fibonacci level while others just enter right after the Pinbar closes.
Disadvantages of the Pinocchio Strategy
The sad thing is that Pinocchio Strategy is not designed for the newcomers. You have to know exactly what to do, which requires certain time experiencing the market otherwise this strategy would smash you immediately.
For example, you have to trade faster if after a minor rally during a down trend, there is a strongly resistant formation of a bearish pin as the wick is above the candle, which is indicated by an oscillator. However, if the Pin turns to be countertrend, it results in the fact that this trade is almost out of money.
Furthermore, this strategy requires a big stop loss before you could stop trading. For example, when the move is against you and tops over the highest point of the Pin bar, you must get out of the trade as fast as possible and if you set the point to cut your losses too high, it is likely that you will not make it and lose all the trade.
Advantages of the Pinocchio Strategy
First, Pinocchio Strategy is one of the most reliable strategies in the market, especially once you work in the trending markets. If the traders have certain level of knowledge and use the Pinocchio Strategy properly, this strategy would have unbelievable accuracy. This is because, the Pin bar is a perfect indicator which pictures a whole image of the market and helps us grasping the behaviors of other investors.
For instance, in case of a bearish Pinocchio bar, the price is pushed higher by the bulls, but then when the bears come back as the consequences of underlying weakness, they would drag it close the opening price or even lower. The opposite scenario would be applied to the case of a bullish Pin.
Second, it is no doubt that many of us have been stuck in a false breakout. This Pinocchio Strategy might help us avoid making the same mistake as it points out the false break of a trend line, a range or other support and resistance levels. So for example, there are one hour candles where the prices are strongly breaking far above resistance level in the first half an hour.
Don’t do anything quickly! It is important that you stay calm and wait for the next half an hour as the Pinocchio may appear at the end and the price would not come down in the next candles. Therefore, thanks to the Pinocchio bar, you could read the market real movement and avoid unnecessary false break.
Pinocchio is a prestige strategy and I would confidently recommend that if used properly, it could give you a 70% win rate, equivalently a 1:2 Risk:Reward ratio or even 1:3 in some cases. Nevertheless, you must control and are well prepared for all the factors surrounding this method, not just the Pinocchio bar. Therefore, use this strategy wisely, be aware of all factors and you will succeed!
Binary option trading is the most favorite way to earn easy, quick, and huge money. With the development of information technology and outspreading of internet, Binary Options trading becomes an integral part of business life. Profits earned by using a desktop application of binary options can bring to trader get surprise profit. Profit in 60 Seconds – the name captured the attention of trader – is desktop application can bring about high profits by trading only one minute in the Binary Options and Forex market. This sounds fabulous and unbelievable, but it is the truth. That’s what this application can bring to you. By using it, you will be amazed at how it trade only for one minute in the Binary Options market to bring income to you. Once again, detailed review about this product will convince you of the possibility of the application.
A Closer Look into Profit in 60 Seconds
Profit in 60 seconds is the software created by Keith Jones. It becomes more and more popular in Binary Options field. As its name, a trader using this application will get more money in the Binary Options market only in 60 seconds. This software show you figures to get in the market. Because of short – term investment form, it is very difficult to anticipate. So you must make deliberate decision at the beginning.
The exact ratio is still very high since this system is operational. With the widespread use, this software is not only helpful for the experience investors but also the amateurs to make a lot of money. The range of capabilities that the application has shown is one of the main reasons why it is extremely wide popular. The ability to scan and identify support trends related to a number of currency pairs in the best way are the best elements that make great quality of it. The time frame is the way that the business makes profits certainty. And all of this will be done without spending any time.
A wonderful thing of this software is absolutely no diffuse tutorials and eBooks which need to be installed and then followed by trader. Such tiresome job is just not necessary. If you are a user, everything you have to do is logging into the members area, find out the latest updates in the form of charts regarding to concretely currency pairs. All the related details were created automatically by the software. You just need to look at it and make your decision. It is very easy, facile and more than everything, extremely fast.
When it comes to consider between profit and loss, it’s easy for traders to be vague and don’t know what they should do. This program will put an end to this problem by helping to link the traders with their potential partner to make decisions together. Just by following this structure, a trader who does business in Binary Options market meets no hindrance on the way to gain huge profits, even if the market is not stable and risky.
Analyzing charts and providing involved details which are regard to the basic chart forms is one of famous strength of Profit in 60 seconds. In case, traders carelessly skip some points or some remark marks on the charts, this smart software will automatically track down this missed part and notify it to the traders.
Users of Profit in 60 seconds
Though this program sounds appealing, not all traders can utilize it. The software is used only by those who have a direct or indirect relationship with Binary Options, traders or non-traders. They just spend 60 seconds, in other word: 1 minute, to own a huge return.
Strengths and weaknesses of the software
- The software is designed in a way that is easy for users to use, even for the newbies. Thanks to this user-friendly design, it’s advantageous for traders to benefit from their quick-scheme investment.
- Normal software has with them guidelines or usage instructions for traders. This situation doesn’t happen to Profit in 60 seconds software. All the traders have to do is to sign in with their account and they can execute the investment process
- The software contains all the necessary phases, showing them the way to gain a huge profit in such a short time.
- No matter which form of the market is, you can easily earn returns thanks to this convenient, genius software.
- Not only does this software enable traders to have more money in just 60 seconds, yet it also bring in a returns that maybe higher than 70%
- With the help of this software, traders can feel free to stay at home while still keep in touch with their contacts and have a full control over their investments and trading process
- Amazingly, besides providing traders profitable chances, this software also has the ability to set future plans for traders in the method of guaranteeing the amount of profits can be earned in 60 seconds
- If traders are not so sure about this software, they can practice with the demo version of it before starting using it in reality.
Profit in 60 Seconds also has weakness. They are brought up by the fact that traders always take it for granted that they don’t have to monitor the program’s updates all the time since it’s easy to use and they can use it any time. Well, they are all wrong, monitoring and tracking the program is a very crucial phrase that must be considered seriously. Traders, for both the experienced and the amateur ones, must pay attention to every updates of this program if they don’t want to lose all of their money for just such a reason.
Despites its weakness, this software is still a worthy tool for traders, both experienced and new comers, to use. By using this program, they profitability they can have is very huge while they just need to spend a little of their time to earn it, say 60 seconds. Besides, it’s very easy to use and install, so that traders can give it to another one and they can start using straight away. With this program, the market can be a good place for traders to trade.
Being among the most heavily traded commodity, oil has long been very appealing to traders. The fact that oil often features strong movements and is highly influenced by global events as well as supply and demand tells us why there are almost always trade opportunities with this commodity. The only things that concern traders are when to trade and in which direction. Since oil is greatly volatile, I found that we can use binary options to make profits provided that we can make out the direction in its movement soon enough. And that is just what the strategy discussed today is all about.
How It Works
Before we start, I would like you to read more about trading binary options commodities. As for the strategy, it is, in my opinion, one of the simplest yet effective ones I have encountered in a while. It is essentially a trend following strategy that utilizes two indicators for the determination of trend and the retracement to be followed by trend resumption. In other words, we enter the trade when price has strong movement in one direction, then moves back in the opposite direction, and when the first direction is resumed. The two indicators used by this strategy are the TCCI, which is a Moving Average based indicator, and the “Oil Biz” indicator that puts an arrow at our point of entry. Both of them are available for download at the end of this article. I found this strategy on forexstrategiesresources.com, and its original author is Janus Trader. Below is the result you should get once you have successfully installed the indicators on your Meta Trader 4 terminal.
The TCCI is the line on the chart, and it resembles a Moving Average with changing colors, whereas the arrows are generated by the “Oil Biz” indicator. According to the strategy, we have a trade when both indicators are showing the same color. The author claims that the indicators need to meet one special condition: “A trade is confirmed if the TCCI is green both sides of the candle with an up buy arrow or red both sides of the candle with the arrow…” This instruction is rather confusing to me, because I don’t know how the TCCI can be red or green “both sides of the candle”. After a while of studying the chart, I think this is what he is trying to say: sometimes the TCCI will change on the same candle the arrow shows up, thus making it look like half of the candle corresponds to the green zone of the TCCI and half to the red zone. You should not place any trade with those signals. Taking a careful look at the chart may make it simpler for you. Below is the summary of how we trade with this strategy:
- TCCI is Green
- A Green up arrow appears.
- TCCI is Red
- A Red Down arrow appears.
Time Frame: 30 minutes
Expiry time: Unknown at the moment but I would prefer a long one.
The main drawback of this system, in my opinion, is its use of two unfamiliar indicators, at least to me. I don’t feel comfortable using this strategy just because I have never heard about the TCCI or the “Oil Biz”. Moreover, I believe this strategy could be improved by using an additional trend filter, because using the strategy as it is now will lead you to trading retracement instead of the trend consumption.
The Good Points
The good thing about this system is that we can easily follow and back test it, especially when the indicators don’t re-paint. Although this strategy does not generate outstanding results, it is still appreciated for its consistency. I guess it’s fine to have losses provided that you will have more In the Money trades than Out of the Money. This strategy does not generate big profits quickly, but it’s still better than nothing at all.
The author designed this strategy for trading Oil futures, which enable the traders to manage their money better and opt for a higher risk to reward ratio. In other words, traders can lose, for instance, 2 trades but make up for the losses with just one win. Unfortunately, we do not have that kind of luxury in binary options trading unless we double our initial trade, which I absolutely won’t do and I wouldn’t recommend you to either. Although this is not the most accurate strategy I’ve known, it is great because it uses a good risk to reward ratio. Nevertheless, I will try it on a Binary Options demo account to see whether it is readily applicable to binary options trading.
Forex4Noobs is a website whose main aim is to provide new forex traders with relevant and useful information. However, many of the strategies offered can be adapted to binary options trading easily, and Nick B’s Price Action Strategy is one of them. This simple forex strategy utilizes candlestick charts, support and resistance. I think this strategy is great but still lacking in details and substance.
I just discovered Forex4Noobs recently – a site dedicated to teaching the fundamentals of forex trading to beginning traders. On this site, traders can access high quality content that shows them what forex is, how it works and how to trade it. Nick B. is one of the contributors on the site, and he created an easy to use strategy based on price action that is suitable for new traders, no matter whether they trade forex or binary options. He recently updated the strategy with some extra information regarding how to read support/resistance and some other helpful information. What is so strange about this strategy is that it comes with all types of useful information for new traders, but the author did not explain much how the strategy itself works.
What Is It?
It is a strategy originally designed for forex trading that is based on price action analysis. Nevertheless, it is fully applicable to binary options trading since it also works from the support or resistance lines. The author, Nick B, promised to keep the strategy simple, which I think he succeeded in. He chose to make it simpler by not using any indicators and keeping his charts clear instead so that users can easily make out the current price action. He also utilizes the support and resistance lines to mark entry points and takes signals based on Japanese Candlesticks. In the original article, Nick uses one hour charts, but later he confirms that we can use this strategy in any time frame, with any currency pair and during any trading session as long as the pair is free floating and liquid.
How It Works
It is very easy and straightforward to take signals. First, you just wait until the price action reaches a line of support or resistance. Once it does, keep waiting for a signal of reversal and then place the trade. For binary options traders, if prices are reversing from support, you should buy a High or Call position and vice versa: buy a Put or Low position when prices are reversing from the resistance line. Nick claims that the trades are normally good for 30 to 50 pips, so I think the best expiry for binary trades is from one hour to end of day.
The Good Points
Perhaps the best thing about this strategy is that is can be used by new traders. Moreover, it is also packed with several good features. For example, we can use it in any time frame, whether long or short terms trades, and use it to confirm trades in multiple time frames. Another good thing is that we can use it to trade any currency pair or traded asset. It is also quite reliable and capable of providing good signals since it utilizes more than just one indicator.
Ironically, the best thing about this strategy is also its main drawback: it is too simple! A newbie surely can draw some support and resistance lines and wait for a candlestick reversal signal, but he/she may end up with frustrating losses. The simplicity is also shown in the fact that it only uses one type of candle reversal. The strategy does not tell us where to draw the lines, or how to determine which ones are more important. Neither does it mention the underlying trend or conditions or the type of “price action” we are looking out for. Another point for improvement is that this strategy only targets reversal and does not mention anything about breakouts. The supporting information that was updated later only showed doji reversals and more specifically the hammer/shooting star type. A new trader may have to wait for a long while before a signal appears if he/she uses this strategy.
Overall, this is a good strategy that is suitable for new traders, but it still has room for improvement. Although the author succeeded in showing us the concepts, he should make the strategy more actionable and more capable of generating good outcomes. After all, what we are looking for are winning trades, not frustration. Nevertheless, an experienced trader could improve this strategy by applying it to a multiple time frame approach to technical analysis and trend determination, which would be more likely to produce good results.