Trading forex binary signals still require monitoring the position just in case the market does something unexpected.
Trading Forex Binary Signals Examples
In this video, Gail Mercer, founder of TradersHelpDesk, shows you two signals. The first trade on the GBPUSD is a short and Gail sets a profit target at $15. The risk on the trade was $36 per contract. The profit target was filled resulting in a net profit of $49 per contract.
The second trade on the AUDUSD, also short, had a risk of $34 per contract. After the reversal bar to the downside formed, the next bar should have been bearish — but it wasn’t. Instead a bullish bar formed. Gail exited the position and minimized the loss to only $26.75 (instead of $34 per contract).
The AUDUSD also highlights the importance of monitoring your trades even with the binary signals because the market will do what the market wants to do. In this case, the price bar reversal to the downside indicated that the next bar would be a bearish bar and yet a bullish bar formed indicating that the next bar would be bullish, as well. Since Gail was short, she knew that was not advantageous to her position so she minimized the loss instead.
The forex binary signals are available as a monthly subscription for $99. Just remember that when trading forex binary signals you still need to monitor the entries and exits.