TRADING TIPS

Two Questions Today

Hubert Senters here. I got two questions for you. I know I’m going to butcher the first one name Cyprain. Let’s take a look at your question. Hi, good day. I like to know about binary option, how will I make it easier with binary option, that is the area I’m gathering small cash to see if I can make it to forex level. I really needed to master one particular strategy, can you be of help? Binary options I would trade them on the Nadex echange. Binary options is just you’re betting a higher or lower than whatever price they’re pricing in on your options so. Let’s say that you’re looking at Tesla. And Tesla is trading at $200. The binary options will this thing trade above or a close above $210 tomorrow at 3 o’clock. So it’s a yes or a no. It’s either you’re going to win or you’re going to lose which is a lot like trading. I would figure out which thing that you like to trade the most because there’s not binary options on everything so. The biggest hurdle that you’re going to have to overcome first is figuring out something that you enjoy trading And you get along with like trading personality and each different market has its own personality. Like binary options on Tesla are going to be totally different than binary options on Microsoft or on some other futures exchange so first figure that out. Figure out what you’re going to trade first on the binary option market. And then you got to figure out are you going to be day trade them or you’re going to be swing trade them. And then after that it just comes down to good old fashioned reps. Put in a lot of reps figuring out what you’re good at, what you’re suck at. Stop doing the thing that you suck at and do more of the stuff that you’re good at. Good luck. Hope that helps there C is what I’m going to pronounce your name is. J for John here. What are your rules for exiting trades? Stop loss and profit target please? Regards, John. So John it really depends on if I’m in a swing trade or a day trade.  And every single trade that I’m in I always have a pre-determined stop-loss as just like oh, shit, this is the most I want to lose on individual trade. And then targets are totally different because it depends on what my risk reward ratio is. So if I’m trading bonds like I may risk a 150 bucks trying to make a thousands. If I’m trading Gold I may risk $600 to make $2,000. If I’m in a intraday day trade on the Dow I’ll risk 20 points to see if I can make 40, 60or 80 points. So it all depends on the timeframe I’m trading. If I’m day trading or if I’m swing trading and each individual trade has its own inch individual rule set because it depends on the beta which is just a fancy way of saying how wide the range is everyday. Good luck. Hope it helps. I’m going to see you on the next video. Guys, I’m going to be doing a special webinar this Wednesday on ”The Mother of All Bubbles.” How you can profit from markets that are tanking and how to identify and this will help you identify tops and bottoms. And so that’s the webinar I’m going to be doing this Wednesday. I’ll HYPERLINK you to the registration form. I think the title of it is ”The Mother of All Bubbles” which will probably to experience once so hopefully you figure out to that stuff. Good luck. Hope it helps. See you on the next video. Hubert.

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