Binary Options Trading Log 7-10-15

Daily Binary Options Trading Log

Nothing really affecting my trades today news wise… As usual I started my day out by checking the days news on Investing.com’s Economic Calendar. Its possible the FOMC speaker may have some effect on the FTSE trade but since its after 11AM I am not that worried about it also because its a UK Index Future. Still it may effect trading volume prior to the event. I prefer to trade during low volume as price moves more predictably.

 

News 7-10-15

7-9AM DAX “Strudel Trade”

I waited until 0742 to enter to the candle had not fully confirmed Bullish but the volume was low and the pattern was in a reversal and looked as if we would continue to the upside.

DAX 1H Chart

DAX  1H-7-10-15 0705

I missed my preferred entry at >11557 I dipped my toe in with 5 contracts just at the candle opening

Your order was executed on: Fri Jul 10 07:42:36 EDT 2015. The details of your matched trade are shown below for your reference:

Trade Details:
Contract: Germany 30 (Sep) >11237 (9AM)
Expiration: Fri Jul 10 09:00:00 EDT 2015
Direction: BUY
Quantity: 5
Price: 73.75

 

As I watched the chart price action went sideways hovering over my strike… At 0822 a small bearish candle gave me a chance to add to my position with another 5 contracts with a decent price. But I entered too early at $86. I should have set a working order for $80.

DAX 5M Chart

DAX  5M-7-10-15 0806

Your order was executed on: Fri Jul 10 08:22:32 EDT 2015. The details of your matched trade are shown below for your reference:

Trade Details:
Contract: Germany 30 (Sep) >11237 (9AM)
Expiration: Fri Jul 10 09:00:00 EDT 2015
Direction: BUY
Quantity: 5
Price: 86.75

 

The sideways action continued with a slight move up..

DAX 5M Chart

DAX  5M 7-10-15-Final

 

Summary

$197.5 Gross – $18 Fees = $179.5 Net (-44.87  25% tax)

9-11AM FTSE “Brunch Trade”

 

When I looked at the hourly chart I noticed a downward move was forming. The indicators showed an over bought market.I watched the chart for my entry but I trade at work.  I got busy so I forgot to set a working order above the open of the 9am candle. Once the 9am candle closed Bearish I was more confident to move. I had missed my entry so I was patient and looked to enter on the >6619 strike. There was larger bearish candle and I entered on the slight reversal after.

FTSE 5M Chart

FTSE 5M-7-10-15 1010

 

Your order was executed on: Fri Jul 10 10:05:51 EDT 2015. The details of your matched trade are shown below for your reference:

Trade Details:
Contract: FTSE 100 (Sep) >6619 (11AM)
Expiration: Fri Jul 10 11:00:00 EDT 2015
Direction: SELL
Quantity: 4
Price: 25.50

 

I continued to watch this move downward play out noticing the sideways pitch I began to think it would be a good time to play an Iron Butterfly if I could get in the right price. as soon as I saw this bearish candle forming I set a working order. But I entered too early at $88.75. I should have set a working order for $80. I set a 40 contract buy order expecting a slight reversal since this downward move had been occurring for an 1:45 minutes and we were near the low of the day. I was filled in short order.

FTSE 5M Chart

FTSE 5M-7-10-15 1047

Your order was executed on: Fri Jul 10 10:45:03 EDT 2015. The details of your matched trade are shown below for your reference:

Trade Details:
Contract: FTSE 100 (Sep) >6589 (11AM)
Expiration: Fri Jul 10 11:00:00 EDT 2015
Direction: BUY
Quantity: 40
Price: 88.75

I made $102 Gross on the upper strike and $450 gross on the lower strike… minus $25.20 in fees.

FTSE 5M Chart

“Iron Butterfly”

FTSE 5M-7-10-15 1052

 

 

Summary

As I expected the market reversed but it came a little to close to my upper strike in last 5 min of the trade… all is well that ends well I guess. I really need to work on my entries by setting a defined working order more often. I usually buy at market due to impatience to get in a trade only to see the market come to a more favorable price shortly after.

 

Keywords: binary options trading log, FTSE, DAX

OK you have read this far now its your turn… Please give me a comment. Where do you think I can improve. Are there any sustains?

Dustin Donham

Dustin Donham

Webmaster / Trader / Marketing Guy at Forex Forge
Dustin is a humble student of the markets, traveler & all-around badass. When not trading he works with private clients to improve their online marketing efforts. Fo sho.

He enjoys outdoor activities, a perfect day for him would be a trek to remote waterfalls followed by a some whitewater paddling or a bike trail ride.
Dustin Donham

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