Middle Aged (35-54)
North American (General)
North American (US General American - GenAM)
Note: Transcripts are generated using speech recognition software and may contain errors.
when trading 62nd options from the one minute chart, you're dealing with a very small amount of price data encapsulated in each candlestick, and one minute of price action is relatively inconsequential in the grand scheme of things. That said, it's fully possible to make sound trading decisions regarding what may happen to the price movement in the next minute. My basic strategy towards 60 seconds options goes as follows one. Find support and resistance levels in the market with short term bounces, Pivot points and Fibonacci retracement levels can be particularly useful just as they are on other timeframes when trading longer term instruments to take trade setups on the first touch of the level. When your trading instruments that have a high level of noise inherent in the eventual trade outcome like 62nd options, taking a higher volume of trades can actually play to your advantage. For those who are not familiar with the way I normally trade, the 15 minute expiry is from the five minute chart. I normally look for an initial reject of a price level I have already marked off ahead of time. If it does reject the level, this helps to further validate the robustness of the price level, and I will look to get in on the subsequent touch. Expectedly, this leads to a lower volume of trades taken in exchange for higher accuracy setups. 62nd trades lead to higher trade volume. But since the inherent noise in each 62nd trade is so large to begin with, I believe trading in higher volume can actually work to one's benefit. In that it helps to even now the accuracy fluctuations that come when trading such short term instruments to provide a baseball analogy. A hitter who normally maintains a batting average of 300 that is, he makes it on base with a hit on. Three out of every 10 at bats may go through a 10 game stretch where he only bats 100. On the other hand, in that same span, he might hit for 50. But over the course of a 100 plus game season, it's expected that with enough at bats, his true skill level with regard to hitting will be accurately revealed its ah, regression to the mean type of concept. As such, if you're trading 62nd options and only taking one or two trades in a four plus our session that is being super conservative, it's likely that you're going to be waiting a very long time before your true skill level at this form of trading is revealed to your attention. You may not even have an effective strategic approach to one minute options, and it would be unfortunate if you went over a month of trading this instrument before you begin to realize that that's the case. Once your profit curve or I tm percentage starts to take its appropriate shape.