How to improve our odds!?

sportbilly

Junior member
37 0
BLAME MARKET for own faults – loosing is never market's fault – it is YOUR FAULT! ALWAYS! You and only you are responsible for your losses. You lack knowledge, you lack patience, you're not calm. Stop blaming others – your fate is in your hands.
 

BOP

Junior member
16 3
It's easy to make money when you are trading with small amounts and over short time periods. The problem comes when you try to start trading outside of your comfort zone with amounts of money that are 'more meaningful' to you (i.e. the equivalent amount to the monthly rent etc. Consistency is also an issue.

I read recently some info on some different betting strategies such as Martingale and d'Alembert which are often touted in binary options. Either here or in the free guide you can sign up for - http://www.binaryoptionsinvestor.net/binary-options-education/

The whole point of Binary Options odds is that they are devised to make it hard to win over the longer term. I wouldn't say that you couldn't have some good success by using these money management strategies over the short term, but ultimately there will be a day where you will end up giving all of your profits back.
 

sportbilly

Junior member
37 0
The whole point of Binary Options odds is that they are devised to make it hard to win over the longer term. I wouldn't say that you couldn't have some good success by using these money management strategies over the short term, but ultimately there will be a day where you will end up giving all of your profits back.
So what do you suggest for long term? Have you found any Money Managment?
 

gracieJJ

Newbie
5 0
I suggest that you get binaryholygrail because it is very good in winning you profits, not just winning you trades. It is a good strategy specially for those who are just starting out with BO
 

sportbilly

Junior member
37 0
I suggest that you get binaryholygrail because it is very good in winning you profits, not just winning you trades. It is a good strategy specially for those who are just starting out with BO
Have you been successfull with binaryholygrail!? And what have you meant with " is good in winning you profits, not just winning you trades". Does it apply for money managment? Martingale? Tell us more.
 

gracieJJ

Newbie
5 0
Yes, basically it's a martingale but with an extra touch. See, this strategy has won me 70-80% of my trades but in average binary traders, even this trade ratio does not guarantee a good profit because of how binary brokers work. But with the help of this this strategy it can give huge kickbacks. If you want more info, visit binaryholygrail com
 

sportbilly

Junior member
37 0
Yes, basically it's a martingale but with an extra touch. See, this strategy has won me 70-80% of my trades but in average binary traders, even this trade ratio does not guarantee a good profit because of how binary brokers work. But with the help of this this strategy it can give huge kickbacks. If you want more info, visit binaryholygrail com
gracieJJ there is quote from reffered webpage "Is $297 too much for your success and financial freedom?" which turn me off. Please save me from discussion how valuable it is because I dont believe it anything to so called gurus. Post trading results by justification of it and we will give you a respect. If you want us to pay something which online for free anyway we dont embrace that idea so please stop it.

The best advice is free advice because it comes from people who actualy earn the money by trading not preaching. I belive my odds are far better off by learning from my mistakes than others. For money required by preacher I can open account with broker and test my discipline in real action. And thats what I going to do. I will open small account with Tradefight (reffered by Sparkness in post 5) and test my skills directly.
 

sportbilly

Junior member
37 0
It's easy to make money when you are trading with small amounts and over short time periods. The problem comes when you try to start trading outside of your comfort zone with amounts of money that are 'more meaningful' to you (i.e. the equivalent amount to the monthly rent etc. Consistency is also an issue.
(y) You are right BOP. Humans are emotional and trading decisions biased when bets are getting higher. Trading si very introvert journey and mistakes often happen. If you cant find the couse for mistakes you will start trading out of comfort zone more often just because you will try to recoupe the losses.
 
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gracieJJ

Newbie
5 0
Well I wasnt insisting for anyone to buy the strategy. People who is looking for a strategy is free to check it out, if you're not up to it, then fine don't it's not my lost anyway for I will not gain anything even if you buy it. I was just SUGGESTING, it has a website and if you are not convinced then fine don't. it's as simple as that. cheers bro!


Plus, I don't believe that you should open an account without having the confidence that you can pull it off. Even a $100 account is too big if you are trading it wrong. If you really want to improve your odds, read read read and trade using DEMO accounts, it is much better that way because you can test what you find out while reading without having to worry about losing money
 

sportbilly

Junior member
37 0
@gracieJJ - thanks for explanation.

@sparkness - who won the ticket 4 London Tournament this month, you?

However, let me carry on with thread. How to improve our odds!?

I believe that that most of us fail to set right midnset. We should consider betting as an exercise in probability. Therefore, everyone needs to get familiar with the strengths and weaknesses of their personal betting approach: the market conditions that cause it to win, and the market conditions that cause losses. So when you lost some bets you should take it as statistical fluctuation caused by a period of adverse market conditions. You must trust yourself&betting method applied.
 

sportbilly

Junior member
37 0
There is arcticle on T2W landing page - Logic: The Antidote To Emotional Investing, which say:

http://www.trade2win.com/articles/1868-logic-antidote-emotional-investing

"Emotional neutrality is the key. Only invest for coldly rational reasons, and never because other people are buying in droves and making money right now. Heated emotions, euphoria, excitement and similar sentiments are the enemy of prudent and profitable investing. Make sure that you do not get carried away with the crowd. In fact, it is generally best to do the diametrical opposite. When the crowd is cheering, leering and buying, look to sell; when it is moaning, groaning, panicking and selling, it is generally time to make your move".

I fundamently think the same!!! You have to bet against laic public!!! But that create another issue which might decrease your odds - you betting countertrend.
 
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highbury fx

Well-known member
338 114
How to improve our odds!?
In general we are pre programmed to do all of the wrong things, we take excessive risk when we should be conservative (e.g. allowing losses to run), we are conservative when we should take risk (e.g. taking profit rather than letting profits run). Most people fail at most things! But why!? Does stress and greed makes us prone to tunnel vision and less likely to focus on information we need.
The situation is made even worse because different gurus rapes us every day and practically all of the advice available is at best of no value because its context sensitive, advice that may be beneficial in one situation is detrimental in another, and at worst, much of the advice offered or sold is complete nonsense......so.....how to improve our odds!?
I think as humans we try and over complicate strategy to prove to ourselves just how clever we are. We rarely acknowledge the importance of common sense and trusting instinct. As far as trading is concerned the biggest problem I come across is over trading. It's not just about using too much gearing or moving your stops when they're about to be hit or snatching at a profit way too soon because 'no one goes broke booking a profit'. It's not even about trading product you don't understand as most peoples chances of winning are about the same as a coin toss regardless what you trade or what direction you choose. IMHO it is over trading that is the monkey on the back of most 'traders'. If you trade 10 times a day on a 2 point spread you need to book 400 points a month to stand still. Common sense will tell you (or it bloody well should) that that is a rather optimistic target over a long period of time. Its possible to make 400 points a month but that's not the point, you have to make 400 points EVERY month and you have to do it to stay flat.

I know its boring and not glam or what you may consider to be real trading (whatever that is) but there is a lot to be said for the basic common sense stuff of picking a good level for your entry, placing a limit a healthy distance away and a stop loss at a level that isn't going to wipe you out and then walking away from your platform until you get that email that tells you one of your closing orders has been filled.

Take the human need to be proven right out of the equation. Banish the part of your phycology that won't let you leave your stop where it is to be hit. Let it be hit, take the loss. So what, its not personal, you got it wrong and its ok to be wrong, at least you haven't paid 400 points of spread along the way.

It's so much harder to take a profit when the spread is always against you, this is not a 50/50 game as the broker has the spread in his favour. If you put your stop and limit 10 points from your entry on a 2 pip price, the price has to move 12 points your favour for your profit to be booked but only 8 points against you for your stop to be hit. Consider this, consider the obvious - the spread is your cost, reduce your number of deals and you reduce your costs significantly.
 

sportbilly

Junior member
37 0
I think as humans we try and over complicate strategy to prove to ourselves just how clever we are. We rarely acknowledge the importance of common sense and trusting instinct. As far as trading is concerned the biggest problem I come across is over trading. It's not just about using too much gearing or moving your stops when they're about to be hit or snatching at a profit way too soon because 'no one goes broke booking a profit'. It's not even about trading product you don't understand as most peoples chances of winning are about the same as a coin toss regardless what you trade or what direction you choose. IMHO it is over trading that is the monkey on the back of most 'traders'. If you trade 10 times a day on a 2 point spread you need to book 400 points a month to stand still. Common sense will tell you (or it bloody well should) that that is a rather optimistic target over a long period of time. Its possible to make 400 points a month but that's not the point, you have to make 400 points EVERY month and you have to do it to stay flat.

I know its boring and not glam or what you may consider to be real trading (whatever that is) but there is a lot to be said for the basic common sense stuff of picking a good level for your entry, placing a limit a healthy distance away and a stop loss at a level that isn't going to wipe you out and then walking away from your platform until you get that email that tells you one of your closing orders has been filled.

Take the human need to be proven right out of the equation. Banish the part of your phycology that won't let you leave your stop where it is to be hit. Let it be hit, take the loss. So what, its not personal, you got it wrong and its ok to be wrong, at least you haven't paid 400 points of spread along the way.

It's so much harder to take a profit when the spread is always against you, this is not a 50/50 game as the broker has the spread in his favour. If you put your stop and limit 10 points from your entry on a 2 pip price, the price has to move 12 points your favour for your profit to be booked but only 8 points against you for your stop to be hit. Consider this, consider the obvious - the spread is your cost, reduce your number of deals and you reduce your costs significantly.
Thats very good point - overtrading is a killer! When you achieve trading discipline and you aknowledge that market moves are impacted by market liquidity your odds increase substantionally.
 

sportbilly

Junior member
37 0
Most people go down the indicator road. I think indicators are waste of time. One week you adding one and then deleting it after a little bit testing. Than adding another one and so on........The fact is that indicators lag and they all will give you conflicting info. If you really want to confuse yourself throw up a bunch of indicators and then use multiple timeframes.
 

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