Trading the EURUSD binary options during Asia opening session can produce profitable trades. This allows traders with day jobs to actually trade in the evenings. The Nadex Binary Options have strikes every four pips on the EURUSD so that makes it an ideal currency for trading anytime the market is open.
Trading the EURUSD Binary Options During Asia
The setup was fairly easy (and a signal was issued on this trade). Price had moved down and then formed a reversal bar indicating that a retracement was likely. I chose an At the Money binary option, in anticipating that the market would move up at least one strike. Risk per contract was $51.50 excluding exchange fees. After price moved in my direction, I took profits because price was at the average true range stop on the 15 minute chart which is built-in to the TradersHelpDesk’s Trend Average True Range indicator.
The profit taken on a per contract basis, excluding exchange fees, was $35.25. The return on investment for the trade was 68%. With price being at an area of resistance, staying with the trade would have meant giving back profits so instead I exited and locked in profits.
Just another example of trading the EURUSD binary options during Asia to limit risk on entry.