This morning I showed my open positions using the Nadex Binary Options Spreads, which I entered between 5:30 and 6:30 am EDT. One was on the EURUSD at a strike price of 1.3540 (I believe it would close greater than this price) for a total risk of $34. The second one was on the S&P 500. I sold the ceiling at 1940 for a total risk of $11 per contract.
Nadex Binary Options Spreads on EURUSD and S&P 500
I exited the EURUSD binary option at $97. This resulted in a profit of $63 per contract. Since the binary options do not have margins, the cost of entering the trade was $34 per contract and .90 cents for commission (up to 10 contracts then it is capped at $9.00 in each direction).
On the S&P 500 I opted to go ahead and take the ten points it was offering to give me. The profit was $100 per contract (plus round trip commission of $1.80 or $18 if trading over ten contracts). The risk was $11 per contract. Again, since Nadex does not require margins because your maximum risk is immediately deducted, it was $11 plus commission for each contract to enter this trade.
I was out of the office most of the morning. If I had been in the office, I would have entered multiple trades simply based on these two setups. That is how I use Nadex Binary Options and Spreads to make money!