Interview with Bitcoin Compass
Interview with Bitcoin Compass
CRYPTOCURRENCY NEWS

Signals Thursday #10 – Interview with BITCOIN COMPASS

Somewhere on the world might still be Thursday, so we still publish our Signals Thursday… And end this season for now with a very special interview guest.
Bitcoin Compass is one of our listed Discord Signal Groups. They came and they ruled – pretty fast, and far more important: they have proven many times that they are true experts in trading and have a deep knowledge when it comes to crypto projects. Recently, they contributed an article, “The Ripple Mafia“, which went viral. Keep Reading

The Characteristics of Major Currency Pairs

in TRADING CRYPTOCURRENCIES

When you are new to trading, you really want to learn as much as possible as quick as possible. As I am learning myself, I am always on the hunt for new knowledge and I found that some basic information regarding the characteristics of the major forex pairs might come in handy for trading with binary options. It is always good to know, who you are playing with – Binary options are not different.  Let’s take a look at them!

Major Forex Pairs

Upfront some basic knowledge for the prices:
1st currency of the pair leads.  This means the price of the pair shows how many of the second currency you need to buy 1 unit of the first.

Example USD/JPY: Price of the Japanese Yen (here QUOTE currency /MONEY) is 100.762 right now. This means you need 100.762 JPY to buy 1 US Dollar (here BASE currency / COMMODITY)

1. EUR/USD

EURO against the US Dollar is without a doubt the most popular pair. The two strongest currency pairs against each other promise to be volatile and to heavily react on most of the major news. The EU/USD is the most traded currency asset worldwide. Generally: If something happens that makes the Dollar stronger, this pair will decrease, as I need less US Dollar to buy an EURO.

Major playtime: London session
Affective news: News regarding FED, ECB, NFP, FOMC strong Eurozone news
Correlates negatively: USD/CHF
Correlates positively: GBP/USD

How to use this knowledge? If EUR/USD correlates USD/CHF negatively it is wise to watch both closely in conclusion. For example if the EUR/USD breaks its support level it could be that USD/CHF will break its resistance level soon, if it has not done this yet.

The break of psychological levels like 1.3000 has an impact with EUR/USD as it tends to (for example) rise further without much retracement, if such a thing happens.

2. USD/JPY

As many pairs with the Japanese Yen it can become quirky. However, it is still popular amongst traders as it reacts pretty good to many occuring news about the Japanese economy and reflects US news pretty much. If the japanese governement starts playing with the currency strength again, it usually pushes this pair lower. The breakouts on USD/JPY are often true ones. This means if its increasing it gets pushed and pushed and pushed more and versa vice. The UJ is like an all-or-nothing-pair: It can be calm and stay in consolidation mode for hours and looking like nothing is ever going to be happen again here, and on the the other hand if it gets into the jive it can dance with much endurance. So if your indicator fires that the UJ is overbought and will retrace, think twice if you blindly trust and trade it (which you should not do in general).

Major playtime: London session, Tokyo session, New York session

3. GBP/USD

The British pound is not only since Brexit an interesting pair to trade. The FOREX pair GBP against USD seems to follow similar logical patterns as EURO vs. USD, so if you succeed in trading with EURO/USD you may try your strategies with GBP/USD as well. The GBP/USD is often referred as “The Cable” and love to spike up down. It is known for being pretty volatile and for big movements, which seems to change a bit since Brexit referendum.

Major playtime: London session
Affective news: News regarding FED, ECB, NFP, FOMC strong Eurozone news
Characteristics to use: Good to trade against the trend, as the spikes often revert to mean after a few corrections. Known for having false breakouts and wild movements. It is wise to observe this pair for a long time before to start trading it.

Major playtime: London and New York session

4. AUD/USD

All pairs containing the Australian Dollars are reflecting to the price of oil and even more from gold, as these commodities are important to Australia. Therefore it become an important pair for traders. Oil sucking countries like USA or China are important indicators how this pair might move, so watch the economical news closeley for this pair. The AUD/USD is often played by major banks, so watch out if mAnips come to the party.

Major playtime: Sidney, London and New York

5. USD/CHF

Switzerland, the last bastion within Europe that is an economic power and not in the EU (ok soon accompanied by the brits). However the USD against CHF seems to be good for newstraders as European economic news, like announcements of the ECB reflect to this pair with a delay, which can be used for short time frame trades. As the Swiss Franc is a safe haven asset, you will have it raising if major news occure that implement insecurity for the future – you will need more USDollar to buy 1 Franc, so the USD/CHF (often referred as “Swissy”) will rise.

Major playtime: London and New York session

6. USD/CAD

The US Dollar against the Candian Dollar reflects also pretty much to everything oil related. Oil plays a major role in the  Canadian economy and their neighbours (the US) are junkies for the “black crack”, whilst Canada is their dealer. There are also heavy relations between the US stock market and the one by the Candians which reflect pretty well on this pair.

Major playtime: London and New York session

 

Smart Options Self Control Issues (incl. Cheatsheet)

in INVESTING IN CRYPTOCURRENCIES

+++Please note: This post is about Smart Options Self Control Rules. For an article about Smart Options Addiction, please click here.+++

If you have IMPULSE control issues with Smart Options or any form of risk instruments, than SEEK PROFESSIONAL HELP! Addictive behavior is a losing proposition no matter what you trade or use for some.  If you need help just with some rules and ideas to help you control your risk and emotions, well than this video is for you!

Hereby please find a ruleset to get yourself in shape to be ableto control yourself:

Please download it here:
High Res PNG
PDF for Print

How To Get Rid Of A Trading Addiction

in TRADING CRYPTOCURRENCIES

+++Please note: This post adresses addictive behaviour with Smart Options. If you just want to learn more about Smart Options Self Control, please click here+++

Glad you found this post, as you might have clicked on this title or may have searched for a phrase like “How to get rid of a binary options addiciton” and landed here. This means you recognized there is something suspicious with your behaviour. Let me get straight to the point: Many people, which are seasoned traders today, started out first with gambling. I mean you see all these shiny ads, and they scream “MONIEEESSSS” and you take a look how it works and there are just two buttons, up and down. A green and a red one, easy as traffic lights, right? Yes, this is binary options. Its obvious easiness seems to be a no-brainer. A 50/50 chance? What can go wrong here? Very much, unfortunately. I don’t want to get too deep into detail here, the NERD explains it very well in other posts here. Let’s talk about the effect loosing has on you. Loosing a trade, loosing your whole deposit, re-depositing, loosing again and again. Oh what a looser you are, or?

No. Don’t see yourself like this it will propell you even more down!

Getting into this downward spiral is just to easy and many of us experienced that already. When you know your credit card number suddenly off the top of your head, you know something is wrong. You don’t want to learn trading actually, because this takes too long, you just want the quick kick, to try your luck and win. Once loosing, you just want to get back what you have lost, trying it the way you initially lost it. Result: You will loose more. You see how stupid this is, but you do it further. You start doing it more than your actual “play money” allows, maybe you go even into debts and Smart Options become to a money sucking black hole for you. People around you, say you are crazy and you know they are right, but you still act the same way. You see you are doing something wrong, but still do it. This is an addicition pattern. Ask junkies, as casino gamblers, heck, you can even ask cigarette smokers.

Maybe you had a successful series of trades, pushed your account quickly very high (and lost it all again later on) – these are experiences that will strengthen the addictive power, because you want to get that feeling of success again – and that quickly.

You can perhaps imagine that I didn’t pull the above out of my ears – I’ve been there not too long ago, luckily the consequences have been ok with me, as my dayjob is lucrative and I always was able to generate some extra money here and there, but hey, if I now had all these lost money I’could say “Hello” to a Hawaiian girl, putting a floral garland around my neck for at least a month. But NO!, of course I preferred to be the financier of someone elses holiday working over at Stockpair. Why not? Ok, the financial consequences have been bearable to me, personal consequences with people in my life I love have been quite tougher. Finally I went with a gamblers advice center, which was nice but didn’t help alot.
Bottom line is: Been there, got over it, chapter closed.
And here is my personal blueprint how to get out of that bad tune:

1. Be true to yourself and others.

This is crucial, admit to have a problem right now. Admit that something has to change. Without this you will never ever get out of it, and eventually be broke in 6 months, so admit something bad has happend and you lost control. Also be honest to the people around you as this brings in accountability which is very much needed.

2. Exclude yourself from E-Wallets and cancel your credit cards

I know this might sound scary for american people – a live without credit cards?

Well, this is my personal blueprint, so I am sorry to dissapoint you not to have an easy way. You ran into an addiciton, this is not a day on the ponyfarm to get out of it. I excluded myself from SKRILL, NETELLER, cancelled my CREDIT CARDs and wrote an exclusion letter to all providers of instant bank transfers.  This is actually the most important step. Yes, it is annoying, but hell, we ran into something hard to cure – unpleasant steps must be taken. Consider this step as the main thing. Whenever the craving for “trading” a.k.a. gambling returns, your only available option must be a wire transfer. Why? Because you don’t get the immediate satisfaction. If your wish to trade is initiiated by addicition, you want it immediately. Not possible with bank transfer. When I stopped gambling I often had a craving for it. But knowing that it will take up to three days until the deposit shows up, made me refrain from it as no instant satisfaction was available.

3. Pause – Get away from everything Binary Option related

Once excluded delete all the passwords in your password manager, write the brokers to close your account, delete all the binary options pages from your bookmarks, just get out of the scene completely for while. If you want to look for this or that one time, remind you that you currently refrain from binary options sites. Tell yourself it is just for while, not for ever – but now we won’t get back on track.

4. Decide how to proceed

After a few months you will have to decide – a real life binary option:
Option A – Call: Do I want to learn trading from ground and built up knowledge?
Option B – Put: Stay away further from Smart Options.

Depending on what you have chosen, read further:

Option A:

OK, you are still fascinated with trading (not gambling hopefully) and you are interested in it? Then learn the basics with sites like Babypips. You find interest in things like Candlesticks, Pips, Dojis, Bollinger Bands and whatsoever? Then you can learn it – here with us at The Binary Nerd and additionally at the Blue Sky Binary Trading University, which we can vouch for. Open up a DEMO account at Binary.com – they have good features for gambler protection as well in place and DO NOT DEPOSIT. I REPEAT DO NOT DEPOSIT.

Option A is more hard, as you will be confronted with your old addicition. But you have to get on another way on the horse this time. You learn what is behind a trade and how to place a trade based on knowledge. Read the REWIRE YOUR BRAIN article by the NERD for this. You will stay demo for the next months, no false expectations.  Learn it, try it demo and then do it. Already in demo mode try to keep certain limitations like not to exceed a particular amount of trades per day.

Option B:

You mastered a good amount of time already, so why get back? You have proven to be able to live without it – and that pretty well, don’t you? Even it sounds paradox – addicition wise- but it really can be easier NOT doing something, then trying to do it. Stay sober, stay away from everything trading, your life will be fine without it as well, if not even better. Enjoy of not having the stress, enjoy spending 100% of your paycheck for your own needs, no hestitations, no lies, nothing. This is pretty well I guess – so enjoy!

IN CASE OF EMERGENCY / RELAPSE

It can be that you will have drawbacks, addictions are the diseases that are most difficult to cure, so there is hell of work in front of you (depending in which level of addiction you are). There are people doing suicide because they can’t get out an addictive circle, so you have to be carefully with yourself.

At first: Don’t be too hard to yourself, that increases the pressure, increased pressure comes up with stupid actions. Accept that it has happend and go on – repeat with STEP 1.

If you notice that you don’t have the power to get out of it alone, don’t be too proud to ask for help. It is a disease. Binary Option Brokers make use of mechanism in our brain, that can easily create an addicition, so don’t be too hard to yourself, be rational and take the steps that are needed. If my blueprint does not work for you, get some help elsewhere. There is no shame, it is normal. If you break your leg you need to see a doctor, if you get an binary options addiction, you see someone else to get some help. You don’t need to do that alone. When being open with your family regarding this issue , you can ask them openly for their help, maybe even control (like having your wife checking your bank account daily). This will help you out. Most likely they won’t be harsh to you, if you ask them for help.

For external help, please  check this website and take action!

Stay safe! Everything will be good in the end, and if it is not good, it is not yet the end.

You will make it as you control the body that your mind sits in.

Gambler vs Trader

in TRADING CRYPTOCURRENCIES

Trading is a serious thing, but that’s no reason for us to take things too serious at all. Let’s have a little fun here, while we wait for the next good setup to come! Once we pulled the trigger, pushed the button, hit the gopher or to put it simple have put or call chosen, we sit there and watch our trades. Let’s compare the difference between a gambler and a seasoned trader. What happens 60 centimeter in front of the monitor, while a trade is running? Have fun!

The story of trading has two faces. One can just try to be lucky and gamble or beat the game with knowledge.

Gamblers imagination of themselve after the first deposit at BdB:

How they actually looks after their first sessions:

OK – new funds deposited! Let’s martingale our way to success.

Gambler: This really looks like call to me!
Pro: Hmm, I’d take a look on the charts. To me this looks like Gopher BoP.

Gambler:

Pro:

And the price goes in the favorite direction for the Gambler, yieeehhhhaaa

Gambler:

Pro:

And the price goes back to where it was before:

Gambler:

Pro:

And it drops…

Gambler:

Pro:

Wow, price goes back up – what a luck for the Gambler!

Whilst that, Pro was on toilet and looks in the dressing room after his wife:

Then, all of a sudden, a tick in front of the finishing line, a hefty spike…

Gambler:

Gambler: OTM

Pro…

 

Trade Smart Options the Bruce Lee WAY!

in TRADING CRYPTOCURRENCIES

 Empty your mind; be formless, shapeless – like water. Now you put water into a cup, it becomes the cup, you put water into a bottle, it becomes the bottle, you put it in a teapot, it becomes the teapot. Now water can flow or it can crash. Be water, my friend.

This is my favorite quote of Bruce’s, because this is the true nature of Markets. The markets are FLUID and change their flow often depending on a myriad of factors. If the market conditions do not favor your style of trading then you wait until they do, or you learn to trade different styles to adapt with the current prevailing conditions. The best way to do this is to note your results with a journal, where you track the statistics of your trades and the feelings/thoughts behind them. Keep an ever present honest review of your trades and you will build a memory and learn to FEEL when conditions are correct for your fighting style. Newbies will often try to use a subjective/fixed point of view to trade off things that worked recently in the past for them. They will search for perfect indicators/systems/bots thinking after they find them, that they will always make them money! Problem is if markets are ever FLUID and you don’t change with them, you will simply drown in losses or have less then stellar results. I have seen even good traders/signal providers who have no connection to the price action or flow of the market do this. It was so bad at one point, that I had to stop watching them trade, it literally made me cringe. They would see their pattern or setup, then trade it with no respect to the flow of the market at that time, then the market FLOWS on by them, taking their money in tow. So go with the FLOW and “BE WATER, MY FRIEND!”


I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times.

This Bruce quote points to the art of mastery. Repeating a setup over and over and over again while learning when and when not to apply it is the art of mastery. This often is where patience and true discipline is learned, doing things that may seem counter intuitive at first, yet yield an over all positive result in your trading. In my REWIRING article I point this out. Along with this the use of a demo account or small funds to practice your learning of a method/setup is very key. Mistakes here are ok to make as your focus is the process to gain the patience/discipline needed to master the techniques you wish to apply. Remember trading is a skill and the best fighters practice often and long. Stay focused on one method/style to start until you feel you can do it in your sleep. Simply put “PRACTICE PRACTICE PRACTICE!”


The great mistake is to anticipate the outcome of the engagement; you ought not to be thinking of whether it ends in victory or defeat. Let nature take its course, and your tools will strike at the right moment.

Bruce is telling us to not allow our desires/fears to dictate your actions. In trading binary options with timing being so key, one must not allow their THOUGHTS to interfere with their SKILL/FEELINGS. Now this is ambiguous I know. What do you mean thoughts? How are they any different from my feelings? Ask yourself a simple question next time you trade, about your FOCUS and where it is located. Do you have a setup and are you focused on the chart/information of what the markets are telling you? Or are you instead thinking about making a winning trade or fearing a losing one? Many will do the later and TRY to win or stay out of setup out of FEAR, completely losing objective reasoning of the setup or market conditions they should be focused on instead. This leads to all kinds of errors that take them away from any logical application of the very skill they are trying to apply/learn. They chase, become reactionary/subjective and this is the road to hell for a trader. Stay focused on finding good trades and what is needed to make them, not your desires or fears which will have little or nothing to do with the charts before you. Stay focused on the TRADE not the outcome which you have no control over. We can only control the making of good trades.


Patience is not passive, on the contrary it is concentrated strength.

Watch Bruce fight in his old movies, here is teaches us the art of waiting. He always waited for his opponent to attack so he could strike and counter them with perfection. Trading Smart Options profitably is very much the same. We wait and wait and wait, sometimes it seems forever for the right moment to strike, putting defeat beyond us best we can. This takes great strength to stay focused on the market and setups we trade, not allowing our desires/thoughts to interfere and rush/chase trades that do not fit with our objective of profitable trading. The discipline of this is concentrated strength pure and simple. By following this principle in nature you will allow yourself to learn how to FEEL/FIND the best setups and best timing for them.


A fight is not won by one punch or kick. Either learn to endure or hire a bodyguard.

If you wish to learn to trade than you must allow yourself to lose and accept losing as part of the game of gaining knowledge. Start with a demo/practice account or very small funds. It takes time and skill to learn to trade profitably. As with any profession. You may in the start loose many times and feel beaten and abused by this process. Those who do not allow for this will simply not succeed. Far too many want the gain without the pain. The other option is to hire somebody to teach you as there are many services out there that offer this, yet in Smart Options Education and Smart Options Signals there are few who are honest or really have anything to offer outside of taking your money. In the future we will feature services we view as a benefit to binary options traders who seek help in learning to trade.

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