I made $2,000 in our Premium Trading Room | Binary Options

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Alright guys, so in this video I’m going to show you 8 quick trades for an easy $2000 from one of our great premium trading sessions this week. My name is David with Binary Masterclass and welcome back to the channel.

So as we queue up the video and get ready, you can see that I’m looking at a EUR-CAD trade and we’re going to watch this trade painfully unfulfilled but I’m looking at EUR-CAD and what am I seeing. I’m seeing a currency that has broken through a resistance area it has gone up significantly over a four-candle period entering its fifth candle. It was largely oversold for most of that period of time there’s a little bit of red candle beginning to form the candles are getting a little smaller, so I’m thinking we’re getting right for a turnaround here. So I’m just looking for the right spot to enter and as we roll the video we can see that it does dart up right there and I do take an entry on that move thinking that you know I wanted to snag a good position, but not at that point knowing how much more room it had left to run. And you can see again we got way way overextended well over two on the value chart when I took my second entry right there and it’s actually looking okay here at the moment.

Still not totally dissatisfied with that entry, but it does barely lose and at that tick, that tick is what led me to then enter a third entry kind of impulsively right there. It continues to push still well over two on the value chart which you rarely see a currency get extended for as long as it is, but it doesn’t matter. It’s continuing to run. At this point, I have exhausted almost my entire account banking on this currency, turning around. It’s still in the middle of a big run out. And we’re going to pause the video. Of course, you can see that it does not at this point, want to turn around. So at this point I am down to $300 left in my account. Very very painful to watch that trade unfold because number one I should not have been trading a breakout pair. This is something we teach regularly. It looks so tempting. It looks so ready for a turnaround. I didn’t take my own advice and I traded a currency that was currently in the middle of a breakout. Mistake number one. Mistake number two is that when I lost my second entry on that currency I needed to abandon the trade and move to something else, but I impulsively I Instinctively entered a third right there thinking that we were still on the edge of turning around. Of course, not remembering my own words of wisdom saying that these candles can continue to run for a number of minutes, even though we’re seven or eight minutes into a move does not mean it’s going to turn around anytime soon, and as you can see it did not.

So okay so I’ve just lost what was that a fifth entry on this currency. I’m down to my last three hundred dollars in my account and let’s see and you can see I place a three hundred dollar entry again on this currency. Honestly, kind of a Hail Mary move. At that point I had no indication, I had no idea what was happening, but as I watched this trade unfold I see that it moves down into the money nicely and I’m okay. At this point I’ve won an entry, I’ve almost doubled my account, and at that point I could see the red building and when a currency does begin to turn that has been moving for an extended period of time, once it does begin to retrace, it typically will trace retrace for a long period of time. So I placed that other that second $300 entry on it did come a little close but it won that so at this point I’m feeling like okay I’ve got a little life, I’ll pause the video here, a little life back in the tank I’ve taken my account from basically nothing up to almost $800 in just a couple of trades and I’m thinking okay so now I’ve got something to work with maybe we can put something together here so I wanted to make sure I took very, very disciplined entries at that point, really follow our strategy, really make sure I’m taking entries on currencies when they are at resistance points and hopefully are overbought or oversold.

Now you can see I’m watching EUR-GBP here, as we roll the video and EUR-GBP got itself to a very nice resistance. It was very oversold or overbought. It does, I do place a $250 entry and it does not respond like I wanted. So at this point, as we’re video, you could see that I went from putting pretty much all of my account into a trade. I scaled back and now I’m making sure that I have room for at least a first and a second entry because 85% of the time I will win in a first or a second entry. So at this point I’m thinking well I’ve got at least probably eight good trades, six to eight good trades before I may need to take a third. If I trade very disciplined, if I really utilize our strategy as effectively as I can, I’ve probably got a good eight to ten trades before I’m going to need to take a third entry. So I enter my account here which again gets my account down to a dangerously low level and EUR-GBP does decide to turn around here at that level and I do win a second entry. Very nice, you can see the win right there.

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Okay now as we’re watching AUD-CAD it gets itself down to a nice support level as we’re watching. It is nicely oversold, it touches that support. I take an entry, a $300 entry on that support. It does move beyond the support and so I’m wondering, deciding whether or not I need to take a second entry. I get it loaded up, but lo and behold, it doesn’t end up responding. I win that first entry. And this is where, guys, it starts to really turn around for me. And I took a first on EUR-CHF, which did not look like it was gonna be going very well. So I went over immediately and took a second on GBP-AUD. And I think that is the last time that I put all of my account into a trade. That is a second entry that ends up winning and gets me up to $1,600 at that point.

So now we’re watching GBP-AUD as it’s moving itself up to a resistance. I do take a great trade, perfect trade, right at the top of that resistance. It wasn’t oversold at that point anymore, but it had been for a number of candles. It didn’t respond, well, actually it did. I actually won that first entry. I put a second entry on it, a little larger than I probably should have, but I did win my first. It does end up responding. Guys, I win a first and a second entry here, bringing my account almost double back up to about $3,000.

Now we move over to AUD-CAD and it gets itself super extended. It does hit a resistance that’s not visible on this screen. It’s visible on my larger screen. It was very, very oversold and it does respond nicely at that level. And here’s where I start to win just a number of consecutive first entries. The market begins to smooth out. We’re watching. You can see CAD-CHF dropping down. I’m waiting patiently and actually, it freezes right there. And when these do freeze and I do see that it looks like it’s starting to respond. I actually took a trade on that frozen position thinking that when it unfroze I’d be in the money. Now I don’t know if my calculations were off or not but I was not in the money when it unfroze, but thankfully in the last seconds of the trade it comes up and I win that first entry.

I would come over and I take a first-entry call on GBP-AUD at a really nice support level. It respawns beautifully like it should. It does come down and maybe try to retest, but we do end up winning that first as well. And now where are we going with this? We move over to EUR-GBP, getting itself very, very extended again. And it comes up to a previous support and resistance area. I do take a first on it there. Honestly, probably not the best trade, but am I going to get away with this one? And I do get away with it. That resistance wasn’t the best. It was very oversold, but was not the best first entry up to almost $4,000 again, which is very nice.

So I’m watching CAD-CHF and I’m watching it come up to this resistance, trying to be patient, prying away. I took that entry a little early. I got a bad feel to be honest with you. I really didn’t like my position on this one. It does get itself up to finally that resistance area where I do take a second. It does respond at that entry. It comes back down. I actually win my first entry there. My second entry is nicely in the money. Guys, this is gonna take me back over $5,000. Remember, I started with $300 in my account just like nine trades ago.

So after this entry, I’m going to go over to, where are we heading now? AUD-JPY as it moves down, waiting for the support, boom, I take an entry at that support. Very very nice entry, responds beautifully. Moves itself up through the range. I am 5-6 pips in the money here, on this one. Very very nice first-entry win on AUD-JPY.

And now we move over to CAD-CHF. I believe is where we’re headed here or are we gonna Yeah, we’re heading to CAD-CHF. I Do take an entry, the charts are a little bit messed up. You can’t see it. Well, but I do take a first entry on CAD-CHF. It doesn’t respond at the level I was hoping. There we go. And what are we going to do? I’m actually watching EUR-CHF now get itself very extended. I tried to take an entry at that resistance. I take my second entry over on EUR-CHF. It was very, very extended and actually wicked through the resistance area. I was intending on taking it at it, no matter it comes down nicely through. I win my second entry there.

Head over to USD-JPY, which is moving itself up to a nice resistance area, a previous area that you could see there on those candles. It had just gotten itself in an oversold position. I did take a little bit more of an entry on this one than my others had been going.

Alright, pausing the video. At this point, my account is back up to $6,339. Guys, I started the day at $6,453. So now I am only about $120 away from being back in the money. That was my 14th trade cycle since taking that loss. So in 14 trades, I was able to bring my account from $300 all the way back over $6,000 and actually being within maybe one trade of being in the money for the day.

So start the video again. We’re actually going to start this next sequence and I lowered my first entry amount to $100. I didn’t want to risk a lot. I just wanted to get in the money on the day. I’m watching EUR-USD set up here and I got the worst fill. Guys, I was intending on getting that support and it darted upright as I took my entry and really, really just got not the place I was wanting. You can see as this trade is closing, had I got the entry I was intending, I would have won the trade and I would have been within a few dollars of being in the positive for the day. So I didn’t win that trade. I lost that first entry. So now we’re looking for a second.

I’m over here at EUR-CAD watching it try to find support at this area where I do take an entry on it. It does actually move down through that area. It’s just fighting at my money but continues to push down guys. So all right, I’ve lost a first, I’ve lost a second, I need a good spot for a third.

So I go over to EUR-USD which actually got itself in a really nice position. It was very oversold, it had a really good support and it just didn’t respond. And so now it’s at 2.5 on the value chart. I lose that third, I ended up taking a fourth entry on here, not a massive one, but enough to clear out this trading cycle it does end up responding I do win this cycle, and as… Just pausing the video he’s that fourth trading cycle took me exactly to where I was at the beginning of that cycle I didn’t manage my fourth entry properly and I although I didn’t lose money on that cycle I did not make anything so I’m back where I started at the beginning of that trading cycle. We’re going to play the video. And I’m still 120 or 20-ish dollars away from profitability. So now I am watching EUR-USD drop even farther. Do I want to trade there or where do I want to go?

I actually do take an entry on EUR-USD as it comes down and retests a support level. And it does have me in the money but comes back down and fights it my money and guys I lose that first entry again, getting back I do fight and scratch my claw, claw my way back to this break-even point.

So alright let’s move over to AUD-CHF. It’s moving up to this resistance it did already wick it I do take a second as it retests that resistance level. Thankfully my entry is right at the resistance because it does end up holding below that level and I do win that second entry. Pausing the video taking me within four dollars of profitability at this point. Guys I need at least one more trade because I’m not going to work all this way back and finish the day in the negative. So at this point I lower my first entry down to $50 which is less than a percent at that point. I am looking for my next trade which is probably gonna be AUD-JPY. I’m trying to get it up at this resistance. It does wick off of that resistance I don’t get the best entry to be honest with you. I got the bottom end of a wick I was trying to get the top end. It’s fighting around this area for a while I’m just in and out of the money and it does hold on in the, pause the video, to win that trade and put me at the end of the day at $6,491, 17 trading cycles it took me from the time I took that huge fifth entry loss within 17 trading cycles. I wasn’t at my high of the day, but I was back in the money for the day, which is where I wanted to be. I could count the day as a win, even though it was much more of a journey than I was hoping for.

Guys, here’s a couple of the big takeaways from this video. Number one, do not trade breakouts no matter how tempting they look. Those guys can keep running and running and running and you just don’t know when they’re going to turn around. We have breakout currencies that even run well beyond very strong 15-minute support or resistance levels. So guys, do not trade breakouts. Number two, if you do get caught up in a big loss, remember the strategy and the money management works.

Now, there was a little bit of luck on my side and you’re going to get that and you’re going to need that at times. But I did get fortunate on a couple of my entries fell on the right side of the line, but to the best of my ability, I executed as clean of entries according to our support and resistance strategy, overbought oversold, support and resistance. I did leverage those trades a little heavier, much heavier than I normally would, and I only gave myself room for a first and a second for a while and then after a while, I gave myself room for a third and then even a fourth, which at the end I ended up needing. So I scaled back my money management as my account began to grow because I knew that there was going to be a time here coming. I had voided a third entry for the first 12 or 13 trading cycles, but eventually, I was going to need something beyond a second. So as my account began to grow, I began to scale back my money management and give myself room to take a longer entry if needed.

So in the end guys, you’re going to take losses. It’s part of trading. It’s part of binary options trading. The question is, how do you manage after a loss? Number one, avoiding silly losses like I took. There’s no reason why I should have taken that loss. Had I even taken an entry on that trade, the most I should have taken was a second entry loss. But I took a big fifth-entry loss. And then it’s how do you respond after a loss? Getting yourself back in a good head space, following the strategy, following the money management, being disciplined. And guys, 95% of the time I win my trading cycles. And I did there. I won 17 trading cycles in a row after that loss and was able to recover all within the same trading day.