How to Handle Losses -Binary Options. DYM Challenge! (50-56)

00:00

Hey guys, David Bronson with Binary Masterclass here with you today with video number six in our doubling our money challenge today. We’re bringing you trades 50 through 56 and the big question for today’s video is did we lose money? Did we lose a trade? It’s no secret that you can and you will lose trades in trading any kind of stocks or options in binary Options, it’s no different. You will lose some trades. The question is how do you manage that? And we have a strategy that helps you make money even when you lose trades. So let’s get right into the series today and again if you like this video, please like the video and subscribe to our channel if you have questions on trading with us live in the trading room which we do Monday through Friday every morning and we make money most every day. Today was actually a particularly great day for us trading, but we make money most every day in the trading room. We would love to have you join us. Click on the link in the description below or send us a note, ask us a question. We’d love to interact with you, answer your questions about trading binary options. And without further ado, let’s get into today’s session.

01:10

Alright, guys, let’s get into the session. We have trades 50 through 56 today. Starting account balance of $4,838 on the way, just showing the process of what it looks like to double an account size. We take our first trade on EUR-CAD, which is a put at a 1% entry size. It was at a very nice resistance level that we normally like. We always take our first entries at these particular spots. It does push through to the next level, bounces off the next level. We do take our second entry. We didn’t get it quite at the top. But it is responding very nicely off of that level. Although it does come back to test our entry a little bit and we do win this second entry nicely for our first-entry win, in a profit of $107.

Guys we use our own custom indicators that we have assembled and fine-tuned and really help us make good calls on our entries which helps us to be very very profitable those indicators are available to you when you join Binary Masterclass and trade with us in the trading room. Our second trade is another put on EUR-CAD and that one just loses at the last second and we take another second entry on EUR-CAD. Man that was a close one and this is kind of an example of the split-second timing of some of these trades how half a second can really make the difference between winning or losing a trade. That one does go up to the next level of resistance. It bounces off into the money for us. Comes up to our money and at the last second again loses.

So I think we got tired of EUR-CAD and we end up taking our third entry on GBP-CAD which does come nicely off of a resistance and moves well into the money and in the first 30 seconds this looks like a really nice winning trade, although you can see that GBP-CAD is trading very erratically and does move up beyond our entry point. It comes down to briefly get us in the money, but then we do lose our third entry on this trade, which doesn’t happen very often. We win 95% of our first through third entries. So an occasional third entry loss does put us down $136 on the day.

So we do take a first entry on GBP-CAD. We take it at our second-level entry size because we have a recovery strategy that we are employing. We do lose that particular entry on GBP-CAD and we take a second entry over on GBP-USD. We liked how it was setting up a little bit better on the charts versus GBP-CAD and so we moved our second entry over to GBP-USD. It comes off of the resistance, it does dance around our money, and then does eventually come down work into the money down through the range and gives us a nice win and a profit of $269.

04:39

We take a trade on EUR-CAD put and we had a clerical error on this one and instead of inputting 1% we inputted $1 and so even though we had a nice clean first entry win on EUR-CAD, we only made 90 cents. So our next trade is a call on EUR-CAD, comes down, bounces off of a support. Does retest that support, but what’s it gonna do?

Ah it breaks down to the next level, so we take an early second at what we can see on our indicators is the next level of support. Our first entry does end up losing, but the currency does respond very very nicely to that stronger support area, and it does give us a nice second-entry win.

And now, we take a put on CHF-JPY. We got what I would call an extra credit fill meaning our fill area isn’t even at the price and we also take a second first entry put on EUR-CAD we put on EUR-CAD. We babysit our CHF-JPY trade and it comes down for a nice clean first-entry win. And back over to EUR-CAD and it also gives us a nice first-entry win. But because of that loss, that third entry loss we finished the day, $94 down or 1.9% off on this particular session.

Not a big deal, we recovered most of our loss and I’m confident we’ll have it back and more in the next session. It does happen, but we account for it and we generally always end up coming out ahead of the game anyway. So if you like what you saw, please like the video, subscribe to the channel, and we’ll see you in the trading room.