Binary Points System in FTSE/Wall...24 points average per day?!?!

[alliantce]

I started "betting" on binaries about 3 weeks ago in a daily basis. Mainly started using binaries because it's easier to afford in case something goes wrong. I am also aware it's harder to gain advantage.

By betting on daily FTSE/Wall Street binaries ups/downs I've been averaging 12 win points per day for 10 days. So 24 points per day on both indices. Mostly with small amounts per point gambles. And it seems that the system/pattern I've recognised is almost fail safe. Depending on trade days, but tradtionally the pattern I am looking for only shows up 3-4 times a day. At least it's proven to be in the last 10 trading days.

My main question...Is a 12 win points average good enough to seriously start trading in binaries?

 

[N Rothschild]

And it seems that the system/pattern I've recognised is almost fail safe.

uh oh! :jester:

 

[alliantce]

Fail-Safe

uh oh! :jester:

"Fail-Safe" - in the sense that as a newbie I've won £200 in 10 days.

So that's exactly th reasons for my question. I am getting over excited about winning £200, start betting bigger and lose a lot of money. Which frankly I cannot afford to lose.

Is averaging 12 binary points for 10 days on the FTSE reasonable? Or is it just beginners luck?

 

[N Rothschild]

probably beginners luck no offense.. no system can be fail safe, for all you know you are about to go on a loosing streak equal to your winning streak (it happens!)

 

[alliantce]

probably beginners luck no offense.. no system can be fail safe, for all you know you are about to go on a loosing streak equal to your winning streak (it happens!)

That's exactly what I wanted to hear. A reality check from someone with experience. I will pocket the £200 for now, and keep betting £1 per point without pushing my luck any further!

 

[N Rothschild]

what is your system? someone else will have probably used and can give some feedback..

 

[minime69]

you need to back test your system.

 

[N Rothschild]

no you dont you need to keep forward testing it! back testing is pritty irrelevant IMO

 

[minime69]

back test and get the old results, then keep testing for at least 2 months before upping your size.

 

[alliantce]

what is your system? someone else will have probably used and can give some feedback..

It is not "my" system as such. I "inherited" it from my uncle. He was a pro-trader and gave me his old laptop. The laptop contains some custom trading software with custom formulas attached. One of the pointers seems to be very accurate. Odd looking, but correct. Just from curiosity I decided to check it and it seemed accurate enough. So began trading 3 weeks ago and it's semi-working. I don't have a clue about trading, about the software, or how the formula works on the charts. But on the FTSE I've been averaging 12 points. Just slightly less on Wall Street.

PS - I am using binaries because it allows me to "play" with less money!

 

[wallstreet1928]

your doing well mate keep it up if its working for you...........as long as you have stop loss and money management worked out keep going!!