Review: Alan Masters BitMEX Signals
CRYPTO SIGNALS

[Signals Review] – Alan Masters BitMEX Signals

Due to their popularity on Tradingview, a review about the Crypto Signals by Alan Masters has been requested quite a few times, so we figured it is time to provide one about these guys. They are pretty long in business and always appeared legit to us, but – of course – we need a deep dive into their work before we can recommend them to our readers. For the group of Alan Masters, we started a small experiment: We decided to take the community opinion into consideration and added an additional hurdle: we audited the new prospect still ourselves, though they had to grant a free membership to one reader of our Telegram channel, which we randomly selected. This member will provide a “community review” added to ours a bit later and only if he vouches for the channel, we might consider it to  add them to the Bitmex Signals post and issue our seal. But now, back to the Alan Masters BitMEX channel and what we have observed there. Keep Reading

– Alan Masters BitMEX Signals"]

How to Reduce Losses in Smart Options

in TRADING CRYPTOCURRENCIES

I am going to give you some ideas in this article on how to reduce your drawdown weather or not you use your own trading or signal providers it does not matter. These guidelines will serve to help you to reduce losses and increase profits.

1) Never chase your losses “When you are not doing well most NooBs will try to fight their losses = chase them. They do this by doubling/tripling trade sizes and ultimately blowing their accounts after a bad run. This is the #1 enemy in trading and it does not matter if it is forex binary options stocks ect ect. Never chase your losses always stick to a money management plan. Learn to feel the same about a loss as you do a win and focus instead on making good trades instead of focusing on trying to win.”

2) Reduce trade sizes and number of trades “When in a rut/poor trading environment think to reduce your trade size and number of trades. Even the best traders can have bad periods for whatever reason. Why is not important and is subjective not objective. We remain objective at The Binary Nerd, because we want to focus on good trading and increasing profits/reducing losses. I cut my trade sizes down by half and even to 25% of my normal trading size when in a rut or what I think are bad trading conditions. I let the market decide this by my trading statistics and experience.”

3) Learn to feel the same about your losses as you do you wins “This is a hard one as this goes to our natural primate loss aversion psychology. Example you have a series of losing trades and your first thought and likely only though will be is how to win the money back or you lost so much you have feelings of your self worth being reduced and you then have a whole range of negative emotions associated with it. This is a dangerous spot because it will naturally cause one to become emotional and all logic goes out the window with their trading most often. Losses are a part of trading if you are doing poorly step back and get grounded. If you feel the same about your losses as you do your wins, you will lift the “EMOTIONAL CLOUD” that will likely cause you to make stupid trades or decisions that have nothing to do with trading but rather the emotions you feel because of the losses. Don’t feed your negative emotions as they will likely give you negative results.”

So repeat the 3 steps above logically and take some time to really review your own trading and see if any of the above applies to you, especially if you are new to trading binary options. We want you to minimize your losses as best possible and let you know trading is hard but rewarding if you do it correctly over time.

The Wild Tales of Indicator Jones

in TRADING CRYPTOCURRENCIES
Smart Options Indicators

Indicator Jones is out to swing his whip from indicator to indicator. Trading on his own did not work for him in the wild jungle of Smart Options – so he started to search for a solution in his financial adventures. Soon he came across YouTube videos and forums, where he scratched his funky leather hat – “Indicators seem to be the solution to my mess! This is the NEW HOLY GRAIL I have to find – a new mission! It will give me back all my lost ducates and water my drained treasure box.  They will guide me the way through this Smart Options jungle. The giant rolling stone ball behind me will soon make me flat like a pancake if I don’t find a solution to generate tons of winning trades!” Keep Reading

5 Golden Rules for Smart Options Trading

in INVESTING IN CRYPTOCURRENCIES

Okay this video became a bit explicit – it may not be appropriate for all audiences.
When it comes to trading binary options online, it is an easy way to get spanked for free real quickly. If you don’t have thing for that you should watch this video and follow the 5 GOLDEN RULES FOR BINARY OPTIONS TRADING. As it is super important not get trapped with one of these binary options fails, I will give you the rules also here in a nutshell:

1) ONLY USES MONEY YOU CAN AFFORD TO LOSE!
2) NEVER ALLOW A BROKER TO TRADE FOR YOU!
3) START TRADING WITH A DEMO ACCOUNT FIRST. FIRST PROVE VIABILITY!
4) IF A SYSTEM/BOT/SOFTWARE/TRADER requires you to deposit or use real money, don’t do it as it breaks rule #3
5) NEVER ACCEPT A BONUS THAT REQUIRES TURNOVER AND TRAPS YOUR MONEY FROM BEING WITHDRAWN.

When To Avoid Trading Smart Options

in TRADING CRYPTOCURRENCIES

You can’t control the markets, they do what they want to do. So it is crucial to observe, what they are telling us and to see when they are ready to be traded for Smart Options and when we better stay out. KEY ONE in trading is patience. We often tend to search for opportunities and sometimes we start to see those, while they aren’t really there. Estimating the market conditions can help us to define a market where it is better to stay out.
Watch this video with attention as this is where the most traders will fail. You can’t just sit there, see patterns or trading signals and put them without having the overall conditions in mind – this will blow your account over time. Always consider the price action environment and stay chill.

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

 

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