Today was a losing day for binary signals. There were only 7 trades and 3 were winners and 4 were losers. The three that made money did expire in the money.
Losing Day for Binary Signals
There were two trades during he Asian session last night and they both expired in the money.
The London session only had 2 trades and they both lost money. (Today was a holiday in most of Europe and Canada. )
Then during the US session, there were only 3 trades and only 1 was a winner, expiring in the money, and the other two lost.
The winning percentage was 42.86% (only three of the seven trades were profitable). Based on trading 1 contract per signal, with $45 in risk and achieving a $45 profit, the gross profit was $135, the gross losses were $180, fees were $14, resulting in a negative net profit of $59.
This is the first losing day for binary signals since I began tracking them with the strategy but it will not be the last. Trading always involve losses and the drawdown for today was $59. Of course, since the drawdown is low, recovering from a losing day for binary signals is possible.
The results are based on the rules for trading the binary signals, which are:
- Always use a two-hour binary option that has a minimum of six 15-minute bars remaining (an hour and a half), although some of the signals will only have five bars, they are still measured in the results.
- When the signal is sent, choose the ATM binary and set a limit order of $45 for longs or $55 for shorts.
- On the EURUSD, USDJPY, AUDUSD, GBPUSD, and USDCHF, if price moves two strikes in your favor, then consider taking profits (strategy takes profit).
- On the EURGBP, GBPJPY, and EURJPY, if price moves one strike in your favor, then consider taking profits (strategy takes profit).
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.