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HOW TO CATCH A BREAK

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By: Adam Stone
May 28th 2014 5:35am GMT, London UK
 

As reported back on Monday, albeit during the holiday, the S&P was poised to make yet another big move upwards and we wanted binary options traders to take full advantage of it in order to record profits. The break above 1900 actually came on Friday but it was a last minute effort that sent the index above the critical resistance and hasn’t looked back since. The S&P closed up 0.6% yesterday after a long holiday weekend and showed no signs of waning as the index reached 1911.91 in what looked like uninhibited trading to the upside. Binary options traders who read our report from yesterday (click here to read the binary options analysis from Tuesday) knew well enough that the possibility of further increases was of a very high degree of potential.

However, according to our volume analysis, binary options traders seemed to be rather confused as to the proper course of action with no real resistance to base a trade on above the 1900 level. We explained that any trade for the end of day, above 1900, so long as opened early in the session and as close as possible to 1900, should come out a winner. That’s precisely what happened and is the type of trading we wish all of our customers to partake in to secure larger and more secure wins.

It’s not enough to plug away with intra day short term analysis. You need to lower your overall risk by making key trades at precisely timed moments to secure an overall portfolio of trades with lower risk and higher profits. To do this consistently is not a trivial task but it’s one that can be easily implemented in practice. Always look for the “gimmes” like this one on the S&P over the least 2 sessions. Had you taken these 2 trades, especially the break trade on Friday with larger trade sizes as is acceptable for breaks, then your account should have seen a serious influx of cash. By peppering in such trades regularly, with lower risk and higher probability of winning, then your account should stop hovering in the 50-60% win range and head higher.

To seek such trades, look for those assets exposed to breaks like the S&P was on Friday.

A good example is the EUR/USD which broke back lower yesterday. 1.3636 is the current local Fibonacci based resistance as part of the retracement from 1.3615 to 1.3670. The move now is expected lower towards 1.3610 and binary options traders need to get their hooks in on this one. A break below the support will allow low risk down options to be taken readily. With shorter term trades unneeded in this case, a longer term and more secure trade becomes available. Such situations are exactly what we mean by seeking the break, taking advantage, and turning a profit. Flipping these trades with direct forex action is also possible but more on that another day.

EURUSD with binary options 28-5-2014

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Adam Stone
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Adam Stone

As COO of GOptions, my first and foremost goal is to provide traders with the most up to date info from the markets. I have been trading the markets since 2004 and have been involved with stocks, binary options, and forex trading since then. I have had no formal market education and pride myself on a self taught approach to everything related to trading. I try to focus though on both the technical and fundamental aspects related to each trading day and bring forward the most important aspects of risk/reward in the market.
Adam Stone
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