Separating Real and False Forex Signals. The software provides 3 types of “separated” signals. First signal, is your main trading signal( Up/Down Arrows ) and the second signal, is assistance screen on the left side of the chart . Third and last signal, is entry and targets levels. All signals should be used at the same time:
- UP/DOWN arrows on your chart. Those are your main Call/Put Signals.
- On the left side of your chart you can see the assistance screen, with additional confirmation from chart’s trend, major trend and expected risk.
- Entry/Targets levels, are displayed on your chart in the form of red and green lines. Green lines are used for entry and targets with bullish market. Red lines are used for entry and targets with bearish market.
To start trading, you first need to check the last arrow on your chart, from arrow’s direction you will understand the expected buy/sell signal.
Step two, is to make sure that chart’s trend and major trend direction, all confirm your main signal. For example, if your main signal is UP Arrow or BUY/CALL.
Then you need to see an UP Trend From Chart’s Trend, as well as an UP TREND from major trend data.
If there is any conflict then the main signal should be considered an unconfirmed/ weak signal.
Additionally, and to confirm your entry signals, you can also check the RISK calculator. It’s always best if you only trade in low risk conditions. However, this is not a rule and not required to confirm the main signal.
In the above example, last signal was SELL/PUT arrow. Chart’s trend is down and Major trend is down. Plus Risk is low. That means all conditions suggest a valid signal.
Now the question is when exactly you should open a trade?
You have two options. First option is to wait until the system generates a new arrow. In this case you only need to follow the rules we just explained and open your trade.
Second option, if the last arrow was formed few candles ago and you don’t want to wait. You can use the entry/targets levels. Open a trade when price reach red/green level.
As we explained…red lines are for entry/targets when your confirmed signal is SELL/PUT. And green levels are used when your confirmed signal is BUY/CALL.
Those levels are also very effective with “one touch” orders, as expected targets. First line – green or red – should be your entry line, and next line would be your target or your touch level.
If you’re trading 24 hours options, then you can use the software with 1 hour time frame.
Binary Option Trading. We highly recommend that you don’t start using this system with too-short expiration options. Mainly anything less than 30 minutes contracts. The reason for that is because very short expiration options require experience and money management skills.
Start by medium term options, practice and then move on to shorter time frames.
If you want you can start by practicing on demo. If your broker doesn’t provide demo accounts you can still demo trade with any ordinary Forex broker like ThinkForex, AvaFX or GCI by opening a demo account and simply trade without stop loss, and manually close the trades at your desired expiration date or your binary options expiration time limits.
The software is originally designed and developed for trading binary options, but you can still use it for any type of trading. As an additional tool or as your main trading system.
The most important thing is to practice and test until you get results that you feel comfortable with.
The software wouldn’t perform with the same accuracy with all markets and it’s not the holy grail. Even with high winning rate, you should expect to see losing trades from time to time.
We recommend that you start by focusing on time frames between 1 minute and 15 minutes. And only use 1 hour for long term trading or daily trading.
I can’t see the exe file to install the software, there is only ex4 files?
The ex4 files are the correct files. Just copy/paste those files into matatrader4/experts/indicators folder . Then restart metatrader.
What time frame/currency pair is best to use?
You can use it with any market or currency pair. the best time frames to use is from 1M to 1H time frames. It depends on your broker and the type of contract you’re trading. Trade short time frames for short term trades, and longer time frames for long term trades.
The new NFA rules doesn’t allow limit orders or stop loss, does your software work with the new rules without a problem?
Those rules only affect normal Forex trading, they don’t affect binary options trading. So you can use the robot without problems with any broker.
I’m getting losing trades, What’s wrong?!
Losing trades are normal and part of the trading game. That’s why you should always trade with money management and never risk more that 5% of your trading capital per trade, for any reason.
Another important factor, is the time of trading. Binary options trading is all about choosing the best time to trade, not only knowing current market direction. Because you’re betting against time and direction.
For best results, make sure that you’re trading in normal market conditions and avoid trading the news if you’re trading short term.
Check market news calendar every day before you start trading.
I have $500 to trade with, is this good enough or do I need to start with big accounts like $5000 or $10000?
It depends on your broker and their minimum accepted balance. The software itself works with any account’s size.
In trading psychology, there are two kinds of trader’s mindset. One that fails to seal a deal and one the recovers from failures. There are traders who see failures just a small setback. And experience where they get to objectify what went wrong to avoid similar mistakes to happen again. A winning trader sees these setback a parts of the steps towards success.
The mindset of a losing trader does not work this way. Success only comes to those who really really want it. Losing traders tend to take responsibility for their actions. They tend to blame external factors for their mistakes and losses. In order for a losing trader to become a winner trader, one must take responsibility for his action.
Every successful trader has a dream to succeed. Their thoughts are followed by actions. Losing traders tend to leave their thoughts hanging. They may spend too much of their time talking or visualizing.
What is required is action. Traders who think too much tend to look for the perfect opportunity in a deal. What happens is that they also tend to switch or move from one method to another making it difficult for them to find the sign that they are looking for.
Traders who think too much, needs to know the effect before they make any decision. Trading is a combination of risk taking and use of a good methodology. This kind of trader looks and demands perfection every time. This compromises their ability to take risks and therefore their ability to trade.
The opposite of thinking traders are those new traders who lack patience and discipline. These type of traders get caught up in their emotions or ideas that they make decisions that they regret in the end. They rush without thinking of the trading plan or method. They are driven by success but they clearly lack discipline. They completely rely on their instincts. They may go on with a deal thinking that eventually everything will go all right if something goes wrong. Unlike thinking traders, undisciplined traders trade recklessly with their capital.
So if you think you are on the losing trader’s other side of the fence, how to get to the other side? What is the running in head of a successful trader?
Will power and discipline are two things that separate a successful trader from the rest. When the trader’s confidence is down and shaken, then there will be bigger to resolve or willpower to finish the job.
Successful traders are not afraid and overcome of fear when making chances. This does not necessarily mean that traders are reckless. One has to take calculated risks. There are also people who trade because they want to achieve their dreams. Successful traders sit down and depend on the plan that they made. A trading plan will make sure that you are following a trading method.
Another key to success is implementing your strict management rules and following them mechanically everyday. Traders must be disciplined, stay in control and not let either fear or greed rule them. They must cut losses short, maximise gains and most importantly of all; protect their capital.
A losing trader can change their trading mindset for the better. A healthy and a disciplined mindset can be the start of a losing trader’s journey to success and high profits.