- Brokers with 60 2nd Options
- Basic 60 Second Strategy
- sixty Second Trades Lead To Higher Trade Book
- Merchandise History Using one Minute Expiry
- Conclusions On This Strategy
- Where Do I trade?
On Monday, I broke from my normal routine of trading 15-minute expiries from the v-minute chart in favor of “threescore-second” binary options. For one, I just felt similar breaking things up a bit for my own enjoyment. And ii, I know that many traders are into this fast-paced alternative, as it’s at present offered by many offshore brokers. Therefore, introducing some 60-second trades into my blog can serve to lend some communication on how I would approach these.
Brokers with threescore Second Options
Normally, I do not trade 1-infinitesimal options first and foremost because the payout is relatively poor (70%). Also, it is more difficult to be as accurate with these trades as the 15-minute trades, due to the inherent level of noise on the 1-infinitesimal chart, in my stance.
In other words, when trading 60-second options from the 1-minute chart, you’re dealing with a very small amount of price data encapsulated in each candlestick, and one infinitesimal of price action is relatively inconsequential in the grand scheme of things. That said, I believe that it’s fully possible to brand audio trading decisions regarding what may happen to the cost movement in the next minute.
Basic 60 Second Strategy
My basic strategy toward 60-second options goes equally follows:
1. Find support and resistance levels in the market where short-term bounces can be had. Pivots points and Fibonacci retracement levels can be particularly useful, just as they are on other timeframes while trading longer-term instruments.
ii. Accept trade set up-ups on the first impact of the level. When y’all’re trading instruments that accept a high level of noise inherent in the eventual trade outcome (like “threescore-2d” options), I believe that taking a college volume of trades can actually play to your reward.
For those who are non familiar with the way I normally trade the 15-minute expiries from the 5-infinitesimal chart, I normally look for an initial reject of a price level I already have marked off ahead of time. If it does refuse the level, this helps to further validate the robustness of the price level and I volition wait to become in on the subsequent touch. Expectedly, this leads to a lower volume of trades taken in exchange for higher accurateness gear up-ups.
60 2nd Trades Lead To College Merchandise Volume
But since the inherent noise in each 60-second trade is and so large to begin with, I believe trading in higher volume tin actually work to ane’due south benefit in that information technology helps to fifty-fifty out the accuracy fluctuations that come up when trading such short-term instruments.
To provide a baseball analogy, a hitter who normally maintains a batting boilerplate of .300 (i.e., he makes it on base with a striking on three out of every ten at-bats) may go through a ten-game stretch where he only bats .100. On the other hand, in that same bridge, he might hit .450. Merely over the course of a 100+-game flavor, it’southward expected that with enough at-bats, his truthful skill level with regard to hitting volition be accurately revealed. It’s a “regression to the hateful” type of concept.
As such, if you’re trading 60-second options and only taking i-2 trades in a 4+-hour session (i.eastward., being super conservative), information technology’s likely that you’re going to exist waiting a very long time before your true skill level at this form of trading is revealed to your attention.
You may non fifty-fifty accept an effective strategic approach to 1-infinitesimal options, and it would be unfortunate if you went over a month of trading this instrument before you begin to realize that that’s the case in one case your turn a profit curve (or ITM percentage) starts to have its appropriate shape. That said, don’t overtrade by taking prepare-ups that aren’t actually there. That’southward far worse than even choosing to trade at all.
3. Don’t blindly trade all touches of back up and resistance. Continue to consider price action (e.g., candlestick types and formations), trend direction, momentum, and things of that nature that come up with personal exposure to how markets of your involvement acquit and furthering your trading teaching to continually become amend.
But without further ado, I will show you all of my sixty-second trades from Monday and I how I put all of the higher up into practice. To avoid confusion, I will briefly depict each trade according to the number assigned to it in the below screenshots.
Trade History Using ane Minute Expiry
#1: 1.32817 had been the high for the morning and formed an expanse of resistance. On the first re-touch on of 1.32817 I took a put pick on the i:54 candle. This trade won.
#two: Similar to the kickoff trade I took a put option on the re-touch of i.32817. This trade likewise won.
#3: A 3rd put options at 1.32817. This trade lost, as price went above my level and formed a new daily high.
#4: Price formed a newer low at 1.32715, retraced up to i.32761, earlier coming dorsum down. I took a call pick on the re-touch of i.32715 and this trade won.
#five: Basically the aforementioned trade as the previous i. Toll was holding pretty well at 1.32715 so I took a subsequent phone call selection and won this trade.
On the ii:26 candle, price made its motility back up to the i.32761 resistance level. On a normal movement, I would take a put choice at that place, but momentum was stiff on the 2:26 candle (virtually six pips) so I avoided the trade.
#6: Several put options almost prepare up on the 1.32761 level, but none materialized at the level. So my next trade was nevertheless another call option down nearly where I had taken call options during my previous two trades. Nevertheless, since 1.32715 had been slightly breached before, I decided to instead take a call selection at 1.32710 instead. I felt this was a safer move every bit just one-half-a-pip tin can exist crucial in determining whether a 60-second merchandise is won or lost. This trade won.
#7: Put selection support at the 1.32761 resistance level. This merchandise won.
#8: Phone call pick downward at ane.32710 (where #6 was taken). This trade won. All the same, the minute after this trade expired in-the-money, the market broke below 1.32710 and formed a newer low at i.32655.
#9: This trade was a put option at 1.32710, using the concept that erstwhile support can turn into new resistance. Nevertheless, this trade did not win as price continued to climb dorsum into its previous trading range.
#10: I decided to have a put pick at the impact of 1.32817, which was the level at which I took my showtime trades of the day. This trade might seem a bit puzzling at kickoff given a new high for the twenty-four hours had been established and that momentum was upward. But by simply watching the candle it seemed that price was apt to fall a bit. It was also heading into an area of recent resistance and so once it hit 1.32817, I took the put option and the trade worked out.
#11: Another put choice at i.32817. This trade won.
#12: For this trade, the loftier of day initially made on the 2:13 candle came into play – 1.32839. I had intended to take a put option at this level on the iii:22 candle, but price went through information technology rapidly and closed. And so for maybe x-15 seconds, my price feed was delayed and past the time it the connection was recovered it was over a pip higher up my intended entry. And then I’thousand glad I missed that trade, as information technology’south one that would have lost.
I did end up using the 1.32839 level on a phone call selection, though, given that previous resistance can turn into new back up. This merchandise won.
#13: i.32892 was now currently the high for the day and had formed a contempo resistance level. I took a put option on the touch of the level. This merchandise won.
#14: Similar to #12, I used 1.32839 as back up once once more, and it produced a winning trade.
#fifteen: Again, I used the electric current daily high of 1.32892 equally a resistance level off which to accept a put option. Merely price disrepair through and this trade lost.
#16: Some other fifteen minutes passed past before I was able to take another trade set-up. This time, I used one.32892 as a support level (sometime resistance turning into new support) to take a telephone call option. This merchandise was probably my favorite gear up-up of the 24-hour interval and was aided past the fact that the trend was up. Information technology turned out to be a winner.
#17: For put options at this point, I had an eye toward 1.32983 (the new high for the mean solar day), but price consolidated twice at the 1.32971 level forming a line of resistance. And then I decided to take a put option at the touch of ane.32971 on the iv:28 candle. This merchandise turned out to be a prissy four-pip winner.
#xviii: My final trade of the day was a phone call option back down at 1.32839, where I took the same set-ups for #12 and #14. This was another adept four-pip winner.
After that I was waiting for price to come upwards and see if ane.32892 would human activity as resistance, merely information technology never touched. Too, I was feeling a bit fatigued by this betoken and decided to call it quits for the day.
Conclusions On This Strategy
Overall, I did pretty well for my starting time day trading 60-second options, going 14/18 ITM. But, in general, I have religion in my strategy to predict hereafter market direction with a reasonable level of accuracy, and my ability to apply it to any market or timeframe. I also enjoyed toying around with the ane-minute options, every bit information technology was a new feel, and I would definitely consider adding more lx-2nd pick days into my regimen in the futurity.
Where Practice I trade?
Fast withdrawals and decent payout %s keep me happy there.
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