NADEX Trial
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Given that the Cable pairs are both bearish, I'm satisfied enough with the amount of profit currently showing to pocket the available returns right here.
I can always come back to take a stab at more if and when I see a full-fledged reversal in any of the assets. In the meantime, I won't have to be sitting around for several hours wondering what might ultimately happen.
I can always come back to take a stab at more if and when I see a full-fledged reversal in any of the assets. In the meantime, I won't have to be sitting around for several hours wondering what might ultimately happen.
USDCHF rose in value during Thursday and Friday of last week, yet the interpretation of conditions suggested by the NPP forecast model still has the pair bearish overall, so I will be interested to see whether or not the put contract appearing below is in-the-money at expiry 21 hours from now.
Also, though GBPJPY is technically still bearish, structurally, it has much more room to climb than to fall, and if it continues on its horizontal trajectory, its bearish sentiment could reverse over the next 24 hours, so I've placed an aggressive (premature) order and purchased a call contract scheduled for expiry at 3:00 p.m. EST.
Also, though GBPJPY is technically still bearish, structurally, it has much more room to climb than to fall, and if it continues on its horizontal trajectory, its bearish sentiment could reverse over the next 24 hours, so I've placed an aggressive (premature) order and purchased a call contract scheduled for expiry at 3:00 p.m. EST.
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I would have to say the answer to the above question is "yes." I am hoping today's activity will see my demo account balance reach $27,000, which would equal an 8% return on the $25,000 balance from when I opened the account back in October of last year, which is not all that impressive, but I'd like to think I could have done much better had I been taking this little experiment seriously and not been trading so sporadically.
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An 8% return for five months translates to about a 16% annual return, which is respectable, but I do honestly feel I could do better if I really tried.
With the failure rate so high in trading fx, even being able to consistently make $1 a week from a $100,000 account makes you a master trader.
There is no longer any question about this in my mind, so at this point I am continuing this little exercise for a number of other reasons:
- It will help to inform me as to how much profit I can expect to generate per day if I ever go back to trading my Nadex live account—though I will probably opt never to do this. (Presently, anywhere between $30 to $350 daily does not look unrealistic.)
- I'm hoping this will help to keep my skills sharp, such as they are, until I resume trading a live Forex account in September.
- There is a very real chance I might be able to apply the exact same tactics and decision-making routines placing profitable Forex wagers at Betonline at the same success rate without having to risk the approximately $50 to $80 per contract required by NADEX in-the-money and at-the-money binary options, which makes it worth my while to continue refining and expanding the techniques I am currently using on the NADEX demo platform.
- This kind of exercise helps to keep me honest with myself in terms of evaluating whether my trade ideas really work by producing an objective record of my results as opposed to a general impression formed regarding how well I think I would have done had I actually executed hypothetical trades identified on this or that candlestick chart.
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