Sunday, March 22nd, 2015 by Michael Freeman
Greetings everyone!!! I am posting this article as we’re approaching Monday, markets will gradually open and our traders and signals group’s admins will soon begin their trading sessions. Before I continue I just want to mention that the tips are useful for everyone who is trading binary options and is not written exclusively for my Facebook group members.
Let’s start with one of the most important challenges that traders face when following signals, ‘TIMING’, and it plays a major role in most cases, especially since the signals we post are with a short-term expiry often ranging between 10-30 minutes. How do we tackle this issue in the best way and trade on time? It’s actually a lot more simple than you think. It appears that with some web browsers you can ‘auto refresh’ every 1-5 seconds, just change the browser setting (refer to the following article for more info: http://www.guidingtech.com/12491/auto-refresh-pages-chrome-firefox-opera/ ). In our Facebook group when a signal is posted on the wall you will receive a sound notification and with auto-refresh you’ll manage to catch each signal on time and avoid delays. Trading with the Facebook application on your mobile phone might not be ideal as you might receive the signals notifications with a slight delay.
If you already completed my binary options quizzes you should know by now, ‘how to’ follow a signal when it’s posted on our group’s wall but I’ll quickly go over an example again of a typical signal based on the posting standard in our group: EUR/USD Strike Rate: 1.5029 Call 15:00GMT . How would you approach this signal? First, it’s a BUY = CALL signal, therefore the price is expected to raise by 15:00GMT and above the strike rate. In some cases you want to enter a trade immediately if the price, per this example, is substantially below the Strike Rate: 1.5029. However, in some cases you want to wait for a better time to enter the trade, the price might still might shift up and down before the expiry. If it’s too late, skip the signal and don’t enter a trade above the strike rate per this example of a typical CALL signal. Entering a trade with a price level above 1.5029 would be risky per this example.
Often I see traders enter mutiple trades per one signal, now..if you are following one of the admins in the group, you are safe entering multiple trades, however I still don’t recommend making it into a habit as it will mess up your ITM statistics. If per each signal you generate a differnet # of trades, you won’t manage to keep track of your ITM results and it will not be in-line with the signals service results. You might get a higher ITM but you might get a lower ITM since you randomly enter multiple trades in some cases, in my view it’s an emotional response and you should refrain from doing it. The point is that when the adrenaline is pumping, we often jump and enter multiple trades, but I don’t recommend turning it into a habit for STATS sake 😉 .
So who should you follow? In Mike’s Group on Facebook, traders get cash rewards when they post 5+ winning trades on the group’s wall, therefore many traders are now motivated to post good signals on the wall. I found that it’s a great way to find new talents. However, we do have posting rules and if a trader generates too many losing trades we tell him/her to kindly take a break ;). Yes, we have new talents in the group and many of them are winning the cash bonuses for being “serial ITM’ers” and contributing to the group, but as a general recommendation, I would invest more when following signals posted by one of the admins. They are admins in the group for a reason and get paid to produce great results for the group. If you are following someone who’s relatively new in the group, you can still trade a small amount or demo trade it, but don’t invest the same amount you invest when you’re following one of the admins as a general suggestion. Looking for a free demo? You got it! Free Binary Options Demo.
So to summarize, again, you should trade the same amount each time you receive a signal, trade higher amounts when following the group’s admins, never trade more than %10 of your account balance, skip trades that you can’t follow with a good price rate relative to the strike rate, set your browser on auto refresh and close all other apps while trading to avoid glitches and platform slow-downs.
Most of all, stay positive, enjoy the rush and expect many ITM’s if you are part of our group. I wish you all a great week and hopefully the above tips can help you with my service or in general if you decide to trade binary options.
Cheers to a great week full of ITM’s!!!! Good luck to all traders and remember that if you have any questions before, during or after each session you can always contact me or one of our amazing admins.