Binary Options Currency Pairs

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How can I get signals on when to trade currency pairs on binary option?

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I will write you a simple and logical respond about using Trading Signals from any signal providers, and then you decide, will you use it and spend time on it or not… here you go:

Online signals usually provide: brokers, companies or private traders. Let’s call it – Signal Provider.

And remember, there are hundreds or thousands of such Signal Providers..

I was following different companies signals, it was several years ago when I started Forex. I compared signals of 5-6 Signal Providers, and it was like – believe/don’t believe/ don’t know…

Signal Provider #1 – Says that need to BUY .

SD Binary Options Trading Strategy – Profit on Major Currency Pairs

Full Review of the SD Trading Strategy for Binary Options Trading

The strategy I am going to talk about today was designed to use on all major pairs. “The Majors” are the most commonly traded Binary Options currency pairs and include EUR/USD, GBP/USD, AUD/USD, USD/JPY and others, but I would say these are the most important. Because they are so frequently traded, the Majors are very active and volatile, offering many opportunities during a trading day and trends are developing more frequent than on other, more exotic pairs. The strategy was developed by a guy named Zeno and it’s available on forexstrategiesresources.com. I must warn you, it’s a pretty complex strategy so put your thinking caps on.

How to use the SD Strategy?

First of all, I don’t know what “SD” stands for (Super Duper maybe?) but I don’t think it’s too important anyway. After all, what matters is how much money it makes or if it makes. Ok, enough chit-chat, let’s get to business. The strategy uses more than one indicator but the most important seems to be the HAMA indicator. Next, we have a color changing Moving Average, a default MACD with Histogram and some special candles called SD Candles. Unfortunately, I couldn’t get the special candles to work properly on my charts so I just replaced them with Heikin Ashi candles which I find better anyway. The idea behind the strategy is to squeeze in as many confirmations of a trend as possible and then capitalize on them. After you installed all the indicators in your Meta Trader 4 platform (in your experts/indicators folder), your chart will look similar to the one below:

The settings for all custom indicators are default; I did not make any adjustments because the creator of the strategy doesn’t mention any special parameters. The same applies to the MACD: use 12, 26, 9, the usual, out of the box settings. In order for us to open a trade we need all indicators to agree so for a Put, we need HAMA to be Red and below the Moving Average, MACD to be below zero and Heikin Ashi candles to be bearish. The strategy also has a filter for ranging periods and the original author warns us not to take trades even if all the conditions are met but HAMA is not below the Moving Average (this is for a Put) because that might signal a range bound market. Here’s a summary of the conditions that must be fulfilled for a trade to be taken.

Put Entry:

  1. HAMA must be Red
  2. HAMA must be below the Moving Average
  3. Moving Average must be Red
  4. Heikin Ashi candles must be bearish
  5. MACD is below zero

Call Entry:

  1. HAMA must be Blue
  2. HAMA must be above the Moving Average
  3. Moving Average must be Blue
  4. Heikin Ashi candles must be bullish
  5. MACD is above zero

Chart Time Frame: 5 minutes

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Expiry time: there is no recommended expiry time for this strategy since it wasn’t developed for Binary Options, but I would use one hour. Of course, your testing will determine the right one. You are going to test it before trading real money with it, right?

Why does the SD Trading System Suck?

First of all, just like any trend following strategy, it is prone to false signals during a ranging market… but nobody claims that this strategy is the Holy Grail of Binary Options. Of course bad trades are going to happen, but given the multitude of confirmations needed before entering a trade, the winners will probably outweigh the losers. Some traders, especially the ones that are new to the business may consider this strategy too complicated because it uses so many indicators. But let me tell you this: if you can match colors, you can trade this strategy; it’s really not hard at all. Make all your indicators Blue for bullish and Red for bearish. Buy a Put when all are Red, buy a Call when all are Blue… not that hard.

Why doesn’t the SD Trading System Suck?

This system was developed for trading the Majors which are known to be trending more than exotics and to have less whipsaws or sharp reversals. But take this statement with a pinch of salt because whipsaws happen on all currency pairs and in fact, on all assets. What I like about it is the fact that it doesn’t rely on just one or two indicators and this will give more accurate signals, although those signals will come less often.

Wrapping it up – The Trend is My Friend?

A good strategy is not obtained by cramming on your charts all the indicators you can get and expecting to make money, but I believe the SD Trading System is carefully balanced to get the best results possible. From what I have seen so far, the strategy is pretty reliable as long as it is traded as it should: don’t trade early, before all conditions are met, try to use a little discretion in order to identify a ranging market and stick to Majors. Of course, good binary options risk management and discipline plays a big role in the success of this strategy, but that is valid for trading in general. Finally, thanks to Zeno for sharing this one with us and Good Luck if you need it.

The best currency pairs to trade

As most binary options traders know, binary options trading can use currencies as an underlying asset choice. The trading of currencies in the binary options market is a lot easier than trading directly on the Forex market. The opportunity to trade currency via the binary options market offers traders several benefits, such as:

  • Access to the largest financial market in the world
  • Sufficient liquidity
  • Trading of various currencies around the clock
  • Knowledge of exact income on in-the-money trades
  • Simple risk management

One very interesting concept is to melt forex with binary options trading – meaning that you can take advantage of both trading techniques and fully exploit the market potentials. One broker that does a very good job in this regard is IQOption. Their trading platform is superior to anybody elses. You can drop up to 9 charts of currency pairs on one screen and work with different indicators for each. It’s best to take a look for yourself. If binary options is interesting to you you have to check out this broker.

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RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

This raises the question then of what is the best currency pair to trade. This is not so easy to answer, because each currency pair has its own personality, and every trader also has his or her own personality.

Essentially, deciding upon the best currency pair to trade is simply a matter of finding your own personal advantage in the market. Moreover, it of course also depends on what time of day a trader prefers to trade . For example, those who wish to trade in Asian currency should choose Yen currency pairs, even though the GBP/USD is a more popular currency pair to trade .

Here are some additional currency pair trading tips.

EUR/USD

The EUR/USD currency pair has the highest order flow and thus the best liquidity in the entire forex market. You need not be afraid of possible slippage (with few exceptions), and your trades will always be executed immediately.

Also, trading of EUR/USD currency pairs will typically have a lower amount of volatility. Therefore, this currency pair is particularly suitable for beginners. Another advantage is the very low spread, especially if you are considered to be a scalping trader.

USD/JPY & USD/CHF

With USDJPY and USD/CHF currency pairs, traders may also have an advantage. These currency pairs have a very strong order flow, however, these currency pairs sometimes have too little “action.”

AUD/USD& USD/CAD

In the AUD/USD and USD/CAD currency pairs, the liquidity is a lot less. Therefore, their movements are sometimes very surprising and there are often unexpected reversals.

The AUD/USD and USD/CAD are often referred to as commodity currency pairs, as their prices correlate strongly with gold and oil. Australia is a large producer of gold and therefore the price of AUD/USD is typically influenced by the price of gold. Likewise, Canada is one of the largest oil producers worldwide, and therefore the price of the USDCAD often depends closely with the price of oil.

GRP/JPY

The GBPJPY is very volatile and therefore suitable only for more experienced binary options traders. This volatility is especially present when Japan publishes new economic data, causing drastic movements in the currency values.

GBP/USD

The GBP/USD is also a very solid currency pair for beginners to the binary options trading arena. Here you will find very good liquidity and very good movements. The GBP/USD is slightly more volatile than the EUR/USD, but not as volatile as trading the GBP/JPY currency pair.

Conclusion

It is suggested that beginners to the binary options trading market should initially focus first on the EUR/USD and the GBP/USD currency pairs. In order to ultimately find the best currency pair for yourself, it helps to test, test, test. In doing so, traders should initially put very small sums into these trades, and then document all trades in a trading journal. If you see that your strategy works in the relevant currency pair (you’d need about 100 trades so that the statistical significance is also relevant), then you can scale up and increase your investments.

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