Here is an example of some basic rules for a binary options strategy.
- The trend is your friend, only take trend following entries.
- In an uptrend only enter when prices are near support, in a downtrend only enter when prices are near resistance.
- When prices are near support/resistance wait for a confirming candlestick signal.
- When the candlestick signal appears wait for stochastic and/or MACD to confirm, a bullish crossover in an uptrend or a bearish crossover in a downtrend.
- When rules 1 through 4 are met, enter the trade, only use 3% of account on each trade.
- When choosing expiry use 2XCandle length. if you are using 1 minute candles then 2 minute expiry, if 1 hour candles then 2 hour expiry.
- If the trade fails examine why it did not work, make adjustment if necessary and move on to the next trade. If the trade works move on to the next trade.