In the coaching sessions this morning, we focused on trading the Nadex 5 minute binaries to learn how to go into higher time frame trades. Since we could not determine the direction on the GBPUSD, we opted for the USDJPY 5 minute binaries. We had 3 trades – 1 loser and 2 winners. This video covers only the 5 minute trades we took.
Trade Analysis is Critical
While some traders may think trading Nadex 5 minute binaries is different from trading other time frames, it really isn’t. I use exactly the same trade analysis method but just change the time frame. In this video, I provide a snapshot of what we do in the coaching sessions.
Since most traders have difficulty going into a higher timeframe, I opted to use the Nadex 5 minute binaries to show everyone how it is done. The trade analysis is the same regardless of the time frame that we use for entry.
You will need to think, analyze and react faster with the faster binaries but everything else is the same — which was the focus of today’s session. Although we did over an hour in the room, the video trading Nadex 5 minute binaries is only about 30 minutes.