HomeMade Strategies — Okane Minute Strategy, Simple and Profitable Last updated on by Okane When I first attempted to create my own strategy my goal was to develop a system that could eliminate doubts and indecision out of the equation.
I needed confirmation, a solid strategy with simple rules that could be followed and traded mechanically. Today, with months of training, I have the skills to fully benefit from the great trading opportunities it offers. If you are a newbie, you can follow the rules and trade this strategy mechanically until you acquire the skills necessary to understand the reasons behind the rules.
Hence I can recommend this strategy to both newbies and more experienced traders! Add 3 exponential moving averages with the following periods: and Add gusev real options, 3, 3 Stochastic Oscillator with the following levels: 80 and Add RSI with value 4 and the following levels: 75 and The accuracy of these lines are very high.
I advise newbie traders to not trade near these lines until they understand price action well, specially the pivot-line. You can learn about the PivotCalc here. How does this Strategy Work?
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First you need to confirm the direction of the trend. The moving averages are the very useful tools for this task. Check to see if price is stepping down and is under the and EMA, if that is the case look for lower highs and lower lows. If price is stepping up it should be creating higher strategies for 30 minute options and higher lows above the and EMA.
Notice that these two highs are also under the and the 50EMA. These are good locations for Put-Options. You can actually find two more Put opportunities if you look carefully. Notice that the distance between the 50 and EMA is becoming narrower on the right side in the picture and Doji-candles are forming.
How to pick an entry after you have confirmed the trend direction? Depending on whether you are a newbie or an experienced trader the approach differs. Method 1: First approach is for the newbies who want to trade this mechanically until they become skilled. Stochastic and RSI are about to touch overbought levels.
You must let the current bullish minute candle to finish and confirm that the retracement is over.
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In order to confirm the bullish move is over, change to the 5-minute chart and see if a 5-minute bearish candle forms. But this time you are looking at the 5-minute timeframe. Notice how the candles are closing lower and lower in circle. This indicates that the high is likely to be over. Pay attention to the overbought areas too.
The Stochastic and strategies for 30 minute options RSI are now crossing the overbought levels and are heading down. The entry is after this 5-minute bearish candle is closed. Depending on the market volatility choose between minute or minute expiry.
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Remember though, the M15 and the M5 still have to be overbought! Here is a picture of the 1-minute chart of the same currency pair in the pictures above: Notice how price resisted at the second golden line from bottom to top.
Notice the pin-bars indicating price was forced down. So basically, using price action, there is no need to wait for a full 5-minute candle to finish in the direction you want to trade. Price failing to continue up confirmed the retracement was over and thus gave strategies for 30 minute options a better entry.
You can apply the same methods on Call Options, just look for higher highs and higher lows as I mentioned earlier. Why does this strategy suck? Not so surprisingly, this strategy does not work in ANY market condition. The main issue is being able to patiently wait for all of the correct market conditions to line up for you.
- This strategy is highly recommendable for amateur and professional traders.
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- Primarily used for trading currency pairs which oscillate within a tight trading range, the 30 Minute strategy is considered ideal for traders of all levels of experience.
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Furthermore, it can be quite difficult for beginners to find the best entries. This strategy provides with enough confirmations to induce the trader to take a trade.
Okane Minute Binary Options Strategy, Simple and Profitable
The rules are simple to follow. This strategy also teaches you trend identification and lets you practice on your price action skills! Whether this strategy sucks or not depends entirely on how well you understand the reasons behind the rules of this strategy. Try it out on a demo account first.
You can benefit from my trading diary and the forum thread Strategies for 30 minute options started about this strategy. Some of your questions might have been answered already in these threads!