Oil is probably the most commonly traded commodity and it always had a special appeal to traders. It moves strongly, it is highly affected by geopolitical events and also by supply and demand so trade opportunities are almost always there. The only problems are to know when to trade and which direction to take. I said that Oil is affected by a lot of factors, but by using Binary Options we can profit if the price is going up or down as long as we can identify its direction soon enough.
First, read more about trading binary options commodities. In other words, price moves strongly in one direction, then moves in the opposite direction and when the initial direction is resumed, we enter the trade. To accomplish that, the strategy uses 2 custom indicators: Both indicators are available for download at the bottom of the page and the strategy was presented on forexstrategiesresources.
For a trade according to the strategy we will need both indicators to show the same color. The original author insists on a special condition which was pretty hard for me to understand at first: Those signals should not be traded.
I am not aware of any re-painting issues but that could be a problem. Also, I believe an additional trend filter is needed because the way the strategy is arranged at the moment, you will end up trading the retracement, not the trend resumption. The signals on my charts look good but I must admit I have seen better results. But even if the results are not outstanding, nothing beats a consistent strategy.
This strategy was originally developed for Oil futures and that type of trading allows the trader to manage his money better and go for a higher risk to reward ratio. Good Luck if you need it. Binary Options That Suck. Please be noted that all information provided by Binary Options that Suck are based on our experience and do not mean to offend or accuse any broker with illegal matters.
The words Suck, Scam, etc are based on the fact that these articles are written in a satirical and exaggerated form and therefore sometimes disconnected from reality. All information should be revised closely by readers and to be judged privately by each person.More...