First of all, I want to say hello to all the members as well as thanks Ono, PepePips… and other bros for your useful topics on this forum. Thanks to them, I and other people can gain more knowledge from basic to advanced about financial market, foreign exchange…
My topic’s title “trading tips IQ Option ” sounds so cool, but actually, I lost quite a lot. I just want to write this topic to share my trading method and then discuss with all of you to build a better and more efficient strategy. I have not been able to find a way to solve the limitations of this method, so if you have any ideal, feel free to comment below. This post is a bit long, be patient to read till the end.
[Binary Options] My trading tips in IQ Option
First, let’s talk about the method. It is not something strange but the legendary Martingale. I actually never supported before in binary options because I thought it’s too dangerous and easy to lose all the money. That’s why I didn’t use it for a long time. However, after about 1-year trading, I trade with my own system (will talk about it later) combined with catching the top and the bottom. Sometimes I win and sometimes I lose but never get a stable profit. I lost it all, continuously. Even when I lost all the money in my card, I still practiced on the demo account but it didn’t work. If I lost one, I must win 2 times to get the profit. I went crazy everytime I CALL, it goes down and every time I PUT, it goes a bit higher than mine. That’s when I think about trading with Martingale. With this method, you will choose only CALL or PUT continuously in the same direction in one cycle with 1 minute time. That’s means even when you lose for the first choice, you will still maintain the same direction for the next choices…and see if it wins or not. And the result is: from $50 to $500 within a week (in demo account).
As the effectiveness of this method, I started trading for real today and the results are not bad at all. I will say that it is not so hard to profit $10-$20 each day with this method.
Here are some photos:
Real account (start $ 200)
Demo account (start $ 50)
Now I will talk more about the Martingale as well as the instruments needed for this method.
- Basic knowledge of candles, trend, resistance lines, supports, Fibonacci…
- A good trade system, you can use the indicator, candle, trend line or bollinger band,… which suits you best.
- Patience (first order should be calculated carefully to have the high % of winning, don’t mess up)
- Don’t be greedy (Once you get enough for your target, stop and train more in Demo account)
- Have disciplined (Do not trade too much in one day, 1-2h every day is okay)
Method of trading:
Use your system to predict the trend of the chart. If the chart is rising, you should Call ($1). When the time is almost over and you feel sure to lose, then you should increase the money for the second order ($2.5 or more up to % of the profit) when the first order is closed, wait for a second to see if the chart goes down any more. If not, continue to CALL the second order (the time should be less than 60s). If you lose one more time, do the same to the third order ($5), or 4th ($12), 5th (25$),… until you win (if you go with the correct trend, it’s sure 100% to win at the third order). After winning, it is considered to finish the first cycle, be ready for the next cycle with the $1 start.
Do the opposite for the PUT order when the chart is predicted to decrease.
Advantages and disadvantages of this method:
Advantages: When you trade in the correct direction of the chart, you will definitely make a steady profit of almost 100%. Simple to use, no need for a high win rate, no headache, very effective in the sideway market.
Disadvantages: If you go against the trend (wrong direction), you will probably need a large amount of capital to be able to maintain your order until the chart “reverses its direction” as you want. In addition, if it does not go well that you have to bet up to the 7th-8th order, then it’s not easy to get it back because the transaction at that time may go up to $100.
How to escape the trend reversal (the most important thing)
This is a problem that I am worried about, need more help to solve it.
For example, I chose CALL, but after that, the chart dropped sharply and continued going down. I had lost for 3 Call order, what should I do now? Should I still go with CALL or reverse the order or stop? If I reverse, what should I do if the chart reverses too? There will be no problem if I can answer all that questions. If you have $1000 capital, then that wouldn’t be so worried, but the capital is $100… no kidding.
Your own trading system:
I trade on IQ Option with the system of 2 charts. A chart of 5s and a chart of 1M open at the same time. Both the charts use the Bollinger band (14.2).
First, you have to look at the Chart 1M to see which trend is it, whether it reversed or not.
Signs for the CALL:
- The previous 1m candle is weak (doji candles, long shadow candles ….)
- When a 1m candle crosses or touches the upper band, or close to the resistance zone.
- The 5s candle also crosses or touches the upper band, the red candles appears from the upper band and goes down.
Signs for PUT:
- The previous 1m candle weak (doji candles, long shadow candles ….)
- When a 1m candle passes or touches the lower band, or approaches the support area.
- The 5s candle also passes or touches the bottom Band, the red candle appears from the bottom Band and goes up.
P/S: Trend is your friend