A lot of people love looking at horoscopes. They base their daily action, achievements, and even characteristics on zodiac signs. Even traders can make used of these symbols to make their trading experience more fun and meaningful. Yes, it seems foolish to do so and the entire belief may seem like a scam but relying on these symbols can be part of a trading strategy or it can be your guide.
What is a zodiac? It literally means “animals” and what it typically represents. These are groups of animals that are drawn using starts at night. Every symbol is known to have a unique characteristic to those who are born under it. When the Earth revolves to its annual cycle, it also rotates through a zodiac belt thereby gains influences on every turn. You may not want to use it on your personal analysis, but it can be fun looking it from a trader’s point of view. Each sign has its very own characteristic like female, male, positive, negative, and passive, active.
This zodiac is symbolized with a Ram, which is dedicated to strength. It is the calendar year’s first sign. Aries are “I am” thinkers and are most likely born and made leaders. They can easily get angry since they are hot headed and can be impulsive but are typically right in their assumptions. With natural leadership skills, Aries are great candidates for becoming CEO’s, presidents and other top corporate positions. They are typically patient when getting things done before entering on trading rampages. If you are an Aries, you have to put in mind that other traders might be looking up to you when it comes to leadership.
It is symbolized by the Bull. With the name itself, traders who fall under this February are bullish even in bearish markets. Bulls can get the greatest bull trades there is. Taurus always have an idea “I possess” in their minds. This means that bulls show that they fully take care of their own possessions. Bullish traders love joining trading communities and are most likely attracted to social trading forums. They are actually dependable and strong. When a decision has been made, it is immediately carried out. Bulls are really smart when it comes to managing their cash and adhering to a trading system. If you are a Taurus, you need to keep your eye on money management rules and your personal trading system. Only trade with good signal and wait for your profits to roll.
This is symbolized by twins. When you fall under this zodiac sign then you are most likely a great binary options trader. Geminis are very introspective and is ruled on the idea of “I think.” Geminis are also very keen observers and are quite intuitive when it comes to trading. As a Gemini, you can be in harmony with the tide of the market flow. Nonetheless, Geminis may seem to be without any direction and can be lost in the trading world because they admire variety.
Traders who belong to this zodiac sign are great nurturers. Cancers typically put in mind the idea of “I nurture.” They spend most of their trading time allowing their trades to improve. If you are a cancer then you have the patience to wait for strong signal. Cancers are great traders because they are very instinctive, and their instincts are hardly wrong. However, they sometimes find it hard to understand the meaning of their intuition. Cancers are also over reactive which leads to losses. If you are a crab remind yourself that you should not react on all pieces of the news.
Leos are aggressive and fierce traders with specific purposes. Leos love winning and want to announce their victory to the world. They have the idea of “I shine” on their minds, and this is their drive towards success. Lions rarely rely on other people. If you are a Leo then you will most likely be found following signal providers or making use of an auto-bot. Lions are more or less the same to Rams, but the former can control his emotions. It is a fact that many of the most successful traders are Leos. If you are a Leo, see to it that you do not lose focus on your purpose and goals. Always keep your eye on your purpose.
In the world of trading, Virgos are innocent. Virgos are very at ease and successful trading commodities such as oil, copper, and god. When left alone, Virgos can be very successful traders but they can be tempted easily by advertisement that lures towards higher returns. Virgos have an overreaction to news, and they are also perfectionists. Virgos easily become frustrated especially when they love to perfect their trades. If you are under this zodiac sign, you have to strive hard to reach your goals.
Be careful if you will start to relly on this. This is more just for eductional purpose so you can see what is possible. I would still recommend that you go through our free school to get proper base of knowledge and be comfortable noeugh with trading binary options.
Another popular Binary Options trading strategy is the Mother Candle Strategy. It is a classic technique for trading, but it just has a brand new name. This strategy is popularly used by Forex traders but it can also be used by binary traders. What is it and how does it work?
The Mother Candle Strategy comes with an attack pattern as what candle chartists say because it has a twist in its inside bar. A simple candlestick analysis is what is relied upon by the strategy. It attempts to capture price breaks led by longer candle movements. It is proposed for multiple time frame usage but it is recommendable for intra-day short term trading.
Price action is the entire basis of this binary options strategy. It makes use of candlestick analysis for signaling and predicting trending asset entries. This is typically made for ten to sixty minute charts but it can be used for any time frame even though even though a ten minute and sixty minute is not recommendable. This is because of a higher market noise level as well as higher false signal chances. The entire system depends on a price/candle pattern that is popular on another name. The pattern comes to like when the prices trend and create a longer candle and then creates another small candle with a body that is inside of the other candle. This first candle created is known as the “mother” while the other one is called the “child.” Other chartists have other names for this based on the smaller candle’s in the shape, size, location, harami and attack pattern. The signal is provided during the mother candle’s body’s 1st close. With this, trades have to be taken to the close’s direction. On the first close out of the mother candles’ body, the signal is then given, and this is when trades have to be taken in the close’s direction. To filter false signals and probable bad trades, a twenty bar moving average as well as support and resistance is recommendable.
WHY IS THIS STRATEGY BAD?
Novice traders can’t exactly appreciate this strategy. It sucks mainly because it is an advance signal that may take years for you to master. When you take a signal off from its candlestick pattern, this signal can have a higher chance of failing especially when other factors are not considered. Resistance and support, market sentiment, and trend can greatly impact on the strategy. The strategy’s authors indicate that you have to use moving averages and resistance and support in order for bad trades to be filtered. The sad part is that the authors did not emphasize about how to use these moving averages. It is a sound strategy and one that can be quite difficult to analyze.
WHY IS THIS STRATEGY GOOD?
It does not completely suck because it is widely used, and many traders consider it useful. Chartists of Old School HLC price calls this pattern as inside bar. Candlestick enthusiasts call it Harami. This signal often leads price reversal and may happen at the primary movement’s bottom or top of a secondary correction of short, long, or near term of importance. This means that it can happen at any probable reversal point. This is why it is very powerful. You can identify a probably harami and a reversal can just be at the corner.
Yes, it is an ideal strategy but it comes with a downside. Novice traders need not use it. There is basically nothing new about it and traders have long been trading using this technique. It has a very basic price action signal or candle stick. If you want to implement this, it can take years for you to perfect. You will have to use trend lines and resistance and support or Fibonacci. You may also have to use moving averages. This signal can be ideally used but it works best when you add an analysis tool to your current strategy.
When you trade binary options, a full understanding on specific days is essential. Yes, you might think that all the days are the same, but there are days that are not so good and not so bad. Anyone who has a life knows that this is true. In binary options, what is considered as a great trading day is when you get that signal. It does not matter what your trading style is because there is not a day that is precise for trading unless you have a great strategy that can generate signals every single day. However, these may be plausible assumptions, but there is that day when traders can best enter the market.
You might have learned over time that one day is as different as another and one trader is also as different as the other. Now, when we talks about commodities market, forex, bonds, and equity stocks, Mondays can be the best day to trade because this is the entry and exit day of retail traders as a whole. These traders go home during Fridays and do their routines including monitoring trading accounts and deciding which stocks they have to sell because of misses in earnings. Thereby, Monday can be considered a volatile trading day, and it can be a day that can be against long term trends. Moreover, Monday is a good day for binary options trading just when the market opens its doors.
OTHER DAYS FOR TRADING
Tuesday – Just like Monday this can also be an equally volatile day for trading. This is the day when last minute orders are files. This means that many carryovers are done on Tuesday. Additionally, when there was a severe trading on Monday, then there can be a snap on this day. Most of the time, Tuesday is a great day for binary trading unless there are some unfortunate economic events. Such events can be reasons for you not to trade and move away from the market.
Wednesday – This is typically “the calm day.” There is already a mellowing down of market shaking from Monday and/or Tuesday. At this point, trading is at calm pace. This is a good day for binary traders to go into long term positions. Just like other days, Wednesday is also affected by events and news. However, what is unique about it is that most big announcements that can ignite huge asset price movements such as housing data and ADP growth are done on this day.
Thursday – This can be your favorite trading day. If you are an eager trader or you are trying to confine movements ignited by economic dealings, then you have a huge chance to enter the market. This is actually the day when big-time money managers as well as investors buy and sell. If you want to enter trades which follow on long term trends with short term expiries, then this is the day for you.
Friday – yes, Friday is also another great day to trade as this day is the perfect indicator for long or short term trends. This is obviously the end of the trading week which means that if you need some catching up to do with your trades then now is the time. Fund managers, professional traders, and some investors don’t actually trade a lot on Fridays because they have already observed another trader’s activities and have already heard the news. Therefore, when you decide to trade on Friday, make sure you know what has happened from Monday to Thursday because they can greatly affect your risky Friday trades. Economic events that move the market are often the vehicles of trades on Fridays.
It seems like all days are ideal days for trading. SO when exactly is the best day to trade? As mentioned before, the best day to trade is when there is a great signal. This means that you will not have a good trading day if you do not have a good binary options trading strategy with you. You also need to learn how to keep up with charts and always be patient. When you wait for the right signal then you can trade with success.
Getting away from the busy office scenario can be very tempting. What is even more enticing is making a living of your own. Own great way to make this into a reality is trading. However, it’s not as easy as it seems. If you want to enter into the world of trading and make it as your major mode of income or if you are already a trader at home, you have to consider it as a business. In the same way, you need to make yourself your personal boss and assure that you do everything in your capacity to achieve your trading goals. Some vital things that you need to do include research, making a good trading plan, and getting trade set ups. After this, you have to follow your own trading plan. Yes, the steps sound quite easy but it’s actually not. Reality is you will have to go through trials before you can taste success. Here are some possible trials that you will most likely face and overcome.
1. Yourself – Sometimes you can become your worst enemy. Just like any profession, trading curtails discipline. You have to get up every morning and check on assets. You have to keep yourself updated. When you are still new at your trading business you will most likely struggle at the first few months until you develop a routine. Your routine may include getting out of your bed and into your computer. This means that you need to establish strict personal rules and efficiently mix your daily needs with your trading needs
2. Interruptions, Distractions, and Temptations – when you are drawn to trading, you will surely consider watching the market fun. Reality is that no matter how much you watch the market you will have a high chance of being distracted and tempted to do other things. There are more distractions when you trade at home, alone with all other gadgets surrounding your. This is why you need to have a specific day every day wherein you are distraction free. You may check your emails and do some surfing before you start trading. You can create a habit of trading for an hour to three hours. You can then take a break and do your chores or to the gym. When you get back you can check the charts. Sometimes it’s ideal to force yourself to work for at least four to five hours a day.
3. Risks – know our risks. Risks are huge trials. When are trading in your own home using your own money, no one will stop you from making bad decisions. The moment you enter the trade you have to realize that you are in a warzone were all sorts of financial risks are present. A single decision can crumble your financial future. You have to understand that if you are trading for yourself there are no stoppers. You can develop your own risk controls.
4. Seclusion – Yes, working alone can be boring and it can make you feel isolated. The good news is you can always leave your office at home and be sociable for at least an hour or two a day. Working at home doesn’t have to be boring right?
THE PLUS SIDES
The plus sides are obviously the reasons why you love to trade. So here are the perks.
1. Freedom – You have no boss and no one nags you about what to do. Now that’s freedom. However, you have to remember that no matter how free you are you can drift to point of no return. With freedom you depend on your own skills and disciplines towards making money.
2. Money – of course, trading gives you lots of money if you do it well. But, never put in mind that trading can make you rich because this attitude can pull you down.
3. Time – This goes hand in hand with time. You do not have to sit at home in front of your computer the whole day. You have all the time to go out and do other things you want.
How many and which assets must you watch and/or trade? Most seasoned traders would conclude that basically day trading at least three to five offers a great variety of opportunities. However, when you trade more than this number will surely make you look crazy. One number is not the same as other trader’s numbers. You may choose to watch for more assets to grab more opportunities, or you can watch for lesser assets. In an industry where there are hundreds of opportunities surrounding you, you have to sift out most of these assets and look for some to watch and then trade. Here are some easy ways that for you to watch trades efficiently.
1. Only trade one asset – if in one day the USD EUR is moving too much, say for example 110 pips an average in a day, you will typically day trade it. This can offer good trading opportunities. When you find that a stock is volatile and has promising volume, you can trade it alone for some weeks. You can also trade futures. You can also only trade S and P 500 E-mini. By doing so you will only need lesser research and homework thereby developing a mood for that asset. The drawback with this is that its trading conditions are not ideal all the time when you trade a single asset. This means that you will have to know the perfect time of cutting back on your trades and not trade yet while periods are still tough.
2. Screen Stocks every night – Screening stocks is a famous move when you are day trading. You can download a stock screener. There is lots of it online. By using it you can manage your list and then refine your criteria to a short list of three or five stocks. You may have a lot of stocks to observe and with this you may end up omitting good moves. When you screen, you can look for a higher volatility level and look for patterns on charts thus allowing you to trade breakouts which can quickly happen. Thus, if you are watching for more stocks than you can take, you will end up losing them.
3. Trade from your master list – when you have a master list you have to trust it and rely on it. Trading off your master list is a typical approach especially when you are trading binaries. During the day you can review the charts of say six or seven trading pairs and then you can select one or that moves well. It is ideal to day trade these selected pairs in the morning. At night, you can look at your swing trade chart and place your trades on pairs with promising setups. You do not need a lot of research to do this. It is manageable and at the same time produces numerous opportunities. Yes, it may consume your time Compiling your list but this is just at first. You can create an asset list that you prefer to trade based on their movements. Also create a list with assets that will agree with your strategies. The charts on the lists that you have created are the ones that you will only monitor.
There are no correct or incorrect answers here. you can always trade a single asset at all times. You can even choose to look for a few assets every day. However, it has to be manageable. When you realize that there are some trades that you missed which you ought to have taken, you are most likely focusing on too many assets and cannot trade all of them effectively. When you only trade a single asset and it is not moving in a good way, you can create a master list giving you lots of assets to trade. Make sure there is balance to achieve good trading opportunities but at the same time not overpowering yourself with numerous choices or alternatives.
It wouldn’t take a genius to realize that most people’s lives today revolve around quantity. You might often ask yourself how much you earn, how many e-mails you send and receive every day, and how much food you eat in a day or week. Numbers have become very vital elements in our and we have compromised quality leaving it behind amongst other not so important things. Moreover, with regards to acquiring more, most of us rely on trading which is an easier way to acquire more cash. The sad thing though is that trading does not give your rewards for trading as much as you can. It actually rewards you for acquiring quality and promising trades.
FOR THE LOVE OF QUANTITY
There are some common themes that you will most likely see in trading. These themes basically influence traders to over trade thereby letting their trading capitals to dwindle with trades that are of low quality. One of the themes is that of having an idea that if you make say for example, $100 on a single trade then you can make a thousand if you make ten trades. The other theme is that humans love finding reasons regardless of how illogical it is. For example, when your brain directs you to take a trade (probably out of boredom), it will begin giving you information to make sure that you will make that trade. This means that when there’s no reason for you trade, your brain creates such reasons.
MOVING TOWARDS QUALITY
The first theme mentioned above may be mathematically true. There are basically lots of opportunities every day. The amount of top quality opportunities you can find shall rest on the strategy that you will be using. However, you cannot stop great opportunities from arising. Whether these opportunities show up or not, what you have is only what you can trade. There will be some days without any trade at all while in other days there will be an abundances of trades. It takes discipline and patience to grab those promising opportunities the moment they surface. When you have patience then you can get quality results. If you try to over trade you will most likely lose trade and lose profits from possibly good trades.
The second theme mentioned above is quite difficult to beat. The initial step is to make sure that you have a comprehensive trading plan which tells you why and when you can get inside and outside of probable trades. If your brain is telling you something that is not in your plan, then do not bother taking the trade. This situation is hard to control but very slowly you can learn how to control your urges. You have to discipline yourself and stick to your plan even when your brain is already telling you to make the trade. When you are in a dilemma of sticking to your plan try to outwit your brain to stick to your plan.
PUTTING EVERYTHING TOGETHER
Amazing traders make trades once a price is very near specific levels or going through precise conditions. Once price conditions or levels are not there, good trader try to explore reasons to do away with these trades. As for bad traders, they look for reasons to take trades at whatever level no matter its importance or regardless of the specificity of the present condition.
There is a huge market outlook difference between a poor and a good trader. A good trader is an opportunity seeker who seeks towards only high possibility times. On the other hand, a poor trader tries creating opportunities everywhere and in the end losing his capital.
Trading is actually about quality. You have to focus your goals on the refinement of your strategy in order to generate a number of signals that are of high probability. Put in mind that there are days that do not have a lot of good opportunities. You also need to be well disciplined on keeping your capital for those probable good days.
Every money that you randomly waste through undisciplined and low probability trade is money that you can no longer use once there are good opportunities. Our world revolves by the pursuit of quantity. Never fall for this adventure and it is by then that you trading life can improve.