Sprint markets kill

[vvidiu]

Just curious, anyone uses IG sprint markets? I know its gambling, binary mkts but i was trying out a demo account w 1000GBP and played w a martingale strategy.

Basically 30, 65, 130, 300, 500 were the bets, so leaves 5 errors. Always bet same way, so if price moves up a lot, im waiting for the comeback, usually 2 or 5mins sprint.

I (unfortunately) try to time the market and look for pops (overbought, oversold) so RSI going nuts, big jumps in either FX or indices. For some time it worked well..
Lost a big one w real money tho, didnt work out w the EUR/USD.

Any ideas?

 

[tar]

First martingale wont work period , second forget about short term binaries it will kill you ...

 

[philrussell95]

First martingale wont work period , second forget about short term binaries it will kill you ...

Agreed that Martingale is a big NO. Totally disagree with you about short-term binaries. i'm consistently winning 75 - 80% using the 1 min charts and placing 2 or 5 min expiries.

It is al about getting the right set of indicators together and concentrating on a limited number of assets so that you get to learn how they tend to move.

It took me a year to get the indicators right and I only trade the EURUSD and FTSE.

But absolutely 100% you can make a good living out of short-term binaries.

 

[timsk]

. . .But absolutely 100% you can make a good living out of short-term binaries.

Hi philrussell,
Interesting debut post!

Can you expand on your comments and give further insight into how members might profit from binaries please? I accept that you may not be comfortable outlining your exact methodology, but the type of broker and product used, along with your general experience of the market (it's pros and cons), would be interesting. Your success rate is impressive, but my (limited) understanding of binaries is that because of their pay structure, for a trader to be profitable, they have to have a very high success rate. Is this correct?

I look forward to reading more posts from you!

Tim.

 

[Hedgefund]

Sprint Markets

Just curious, anyone uses IG sprint markets? I know its gambling, binary mkts but i was trying out a demo account w 1000GBP and played w a martingale strategy.

Basically 30, 65, 130, 300, 500 were the bets, so leaves 5 errors. Always bet same way, so if price moves up a lot, im waiting for the comeback, usually 2 or 5mins sprint.

I (unfortunately) try to time the market and look for pops (overbought, oversold) so RSI going nuts, big jumps in either FX or indices. For some time it worked well..
Lost a big one w real money tho, didnt work out w the EUR/USD.

Any ideas?

Using the martingale strategy will just eventually blow your account as with roulette because its just a matter of time before you have a long losing streak if you are just dealing with guesswork.

Along with trading other instruments I've traded these markets with substantial success. As with anything it really boils down to psychology (having the patience to wait for the correct entry and the discipline to stick to what you know works). I like trading these markets because it keeps my mind in tune on a micro level to ensure that I remain focussed in the way that I should be. I trade these markets successfully and have had a run of 11 wins in a row on the 5 minute sprints. It's definitely not gambling once you work it out.