Today was an interesting event at the Pub…We greatly appreciate Darrell Martin for joining us to showcase his trading strategies and also very much appreciate everyone in attendance for the event. The plan for the day was live trading, but initially there was not much going on in the markets. We even had a few patrons start to get a little restless which we completely understand. As traders, we want action and we want it now!
Slow and Steady Wins the Race
Those who stuck around for the finish were able to see a nice little trade setup in the mini russell as it neared the 900 level. Darrell used a Binary Options strategy on Nadex and ended up buying the End of Day Binary based on a close over 901.00. He tried to enter around 15.00 but the market started to move without him so he ended up getting filled around 25.00 (remember that binaries trade from a price range of 0 – 100. One of the key lessons Darrell taught us today was that he ALWAYS wants to have a profit target set in binaries. He typically tries to enter long binaries around 20 and then exit at 43 and tries to enter short binaries around 70-80 and exit those around 57. One of the most important things to remember in trading is to always wait for the best opportunity and to not treat the markets like a casino where there is always money in play.
The trade ended up taking about 15-20 minutes to reach profit potential and Darrell was able to exit profitably at 43.00 for a nice gain to cap off the day. We hope you enjoy the video below and if there is ever anything we can do for you please let us know!
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