IQ Option Journal
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Now that I know how to get the charts at IQ Option to maintain a single format, I can load moving averages accordingly so I don't have to switch back and forth between their charts and my OANDA charts when applying the principles of Numerical Price Prediction, which has greatly facilitated the ease with which I can make successful trades. (This is because IQ Option lets me drop down to 5-second candlesticks, which allows for much greater precision than the 1-minute minimum provided by MetaTrader 4.)
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Reconciling what I see happening at the micro level via IQ Option 5-second charts with my higher time frame MetaTrader 4 setups has resulted in a "tightening" of the latter. It is my hope that this refined conceptualization will further enhance the results I am able to realize trading Forex using the platforms provided by OANDA.
Unless something changes, going forward I will be conceptualizing price action in terms of: (1) immediate, short-term moves; (2) intermediate intraday progress; and (3) the more general overall day-to-day flow.
Accordingly, it makes sense to be on the alert for reversals at the outer boundaries of the typical day range, as well as the upper and lower limits of the intermediate intraday price range. This is especially true when these two separate price ranges converge/overlap.
On the other hand, the more immediate short-term price range comes into play in terms of timing precise position entries and exits to maximize the probability of every trade resulting in some kind of profit.
Practically speaking, the day-to-day trend is of almost no consequence at all with respect to this decision-making process, but its role in terms of defining structure (constructing related deviation [day range] envelopes) is crucial.
Another important relationship is the slope of the more immediate short-term price range envelope and its distance from the underlying moving average that corresponds to the intraday price range envelope (which tends to act as a magnet to which price is, sooner or later, drawn back to).
Unless something changes, going forward I will be conceptualizing price action in terms of: (1) immediate, short-term moves; (2) intermediate intraday progress; and (3) the more general overall day-to-day flow.
Accordingly, it makes sense to be on the alert for reversals at the outer boundaries of the typical day range, as well as the upper and lower limits of the intermediate intraday price range. This is especially true when these two separate price ranges converge/overlap.
On the other hand, the more immediate short-term price range comes into play in terms of timing precise position entries and exits to maximize the probability of every trade resulting in some kind of profit.
Practically speaking, the day-to-day trend is of almost no consequence at all with respect to this decision-making process, but its role in terms of defining structure (constructing related deviation [day range] envelopes) is crucial.
Another important relationship is the slope of the more immediate short-term price range envelope and its distance from the underlying moving average that corresponds to the intraday price range envelope (which tends to act as a magnet to which price is, sooner or later, drawn back to).
Use the typical day range and intermediate intraday price range to guide where you set your stop losses and your take-profit targets. (For you, it's all about the math, or more specifically—statistical probability. Set aside Fibonacci ratios, harmonic patterns, pivot points, Elliot wave analysis and the like.)
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I'm seeing one enhancement reinforce another as the reverse application of going back to IQ Option and using my "tightened" MT4 chart setup to partially dictate binary option purchases promises to heighten the regularity with which I am able to make solid trade decisions in both arenas.
The (thin black) xx-, xx-, and xx-Period Simple Moving Averages are too lagging unless considering the longer-term trajectory, so they are better left to higher-timeframe charts, such as the x-, x-, and x-Period Simple Moving Averages on a five-minute chart.
The better choice for suggesting general price direction at the one-minute level is the orange-red XXXXXXXXXXX…
However, to track price direction even more closely, you should probably use the purplish duo—the dark-orchid XXXXXXXXXXXXXX and the XXXXXXXXXXXXXXXXX.
Note that the medium-blue XXXXXXXXXXXXX is the arbiter of bullish and bearish swings at the lowest actionable level (i.e., one-minute to fifteen-minute binary option contracts).
It is used in tandem with the chocolate envelope (when a pair is not sloping too steeply) to pinpoint entry levels (to the outside of the envelope); and with the thinner/faster black fluctuating envelope, which helps to make each short-term price wave extremely obvious (see below).
Purchase 5-minute binary option call contracts below the chocolate envelope (see the red circles) when the envelope is sloping upward, especially if the medium-blue trendline is sloping upward as well. Purchase 5-minute binary option put contracts above the chocolate envelope when it is sloping downward, especially if the medium-blue trendline is sloping downward as well.
The better choice for suggesting general price direction at the one-minute level is the orange-red XXXXXXXXXXX…
However, to track price direction even more closely, you should probably use the purplish duo—the dark-orchid XXXXXXXXXXXXXX and the XXXXXXXXXXXXXXXXX.
Note that the medium-blue XXXXXXXXXXXXX is the arbiter of bullish and bearish swings at the lowest actionable level (i.e., one-minute to fifteen-minute binary option contracts).
It is used in tandem with the chocolate envelope (when a pair is not sloping too steeply) to pinpoint entry levels (to the outside of the envelope); and with the thinner/faster black fluctuating envelope, which helps to make each short-term price wave extremely obvious (see below).
Purchase 5-minute binary option call contracts below the chocolate envelope (see the red circles) when the envelope is sloping upward, especially if the medium-blue trendline is sloping upward as well. Purchase 5-minute binary option put contracts above the chocolate envelope when it is sloping downward, especially if the medium-blue trendline is sloping downward as well.
I discovered that the previous setup did not give me an accurate idea of what might happen in the future, so I kept the black and chocolate envelopes, but replaced the orange-red, medium-blue, and dark-orchid moving averages with the outer orchid envelope and the steel-blue & crimson inner envelopes pictured below.
Five-minute or fifteen-minute binary option contracts are purchased if price bounces off the upper or lower band of the thinner inner envelope based on my IQ Option five-second chart setup (see the red circles). If the rate does not reverse at this level, contracts are purchased instead when price bounces off a convergence of the outer orchid envelope and the bold inner envelope.
If trading using a traditional Forex broker, take profit targets are set at the center of the channel between the upper and lower bands of the inner envelopes.
Five-minute or fifteen-minute binary option contracts are purchased if price bounces off the upper or lower band of the thinner inner envelope based on my IQ Option five-second chart setup (see the red circles). If the rate does not reverse at this level, contracts are purchased instead when price bounces off a convergence of the outer orchid envelope and the bold inner envelope.
If trading using a traditional Forex broker, take profit targets are set at the center of the channel between the upper and lower bands of the inner envelopes.
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Supposedly I had arrived at a "final" configuration for my charts a couple of times since March, so I just now took a moment to think about why, given that fact, I nonetheless came to make additional changes since then.
Most recently, I think my problem was that I needed a methodology that would allow me to enter positions before retiring for the night that would not turn against me while I slept. And along those same lines, I needed to refrain from executing any trades that would not result in my (OANDA platform) take-profit targets being hit almost immediately (like within the hour), and that would work whether I was popping in and out of the trading platform, or focused on trading for an extended period of time.
Since the setup I started using this morning seems destined to meet all of these goals while still remaining true to the underlying principles of Numerical Price Prediction, perhaps May 2019 will be the last month in which I thought I had everything worked out, only to discover that yet more subtle adjustments had to be made for me to conclude that the system was indeed firing on all cylinders.
If I continue to realize significantly more gains than losses between now and the end of the month, I will begin live trading at the beginning of July, and progress from one dollar trades to multiples of the unit if the percentage of winning trades remains consistent.
Most recently, I think my problem was that I needed a methodology that would allow me to enter positions before retiring for the night that would not turn against me while I slept. And along those same lines, I needed to refrain from executing any trades that would not result in my (OANDA platform) take-profit targets being hit almost immediately (like within the hour), and that would work whether I was popping in and out of the trading platform, or focused on trading for an extended period of time.
Since the setup I started using this morning seems destined to meet all of these goals while still remaining true to the underlying principles of Numerical Price Prediction, perhaps May 2019 will be the last month in which I thought I had everything worked out, only to discover that yet more subtle adjustments had to be made for me to conclude that the system was indeed firing on all cylinders.
If I continue to realize significantly more gains than losses between now and the end of the month, I will begin live trading at the beginning of July, and progress from one dollar trades to multiples of the unit if the percentage of winning trades remains consistent.
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My problem with binary options has always been that, even though I would get the trend right, I would still come out on the losing end if I didn't time everything perfectly.
Not only does the approach I recently adopted trading via IQ Option seem to have finally alleviated this thorny problem, but I think I am beginning to see how it might even be providing me with insights that will enhance my trading via traditional Forex brokers as well.
Not only does the approach I recently adopted trading via IQ Option seem to have finally alleviated this thorny problem, but I think I am beginning to see how it might even be providing me with insights that will enhance my trading via traditional Forex brokers as well.