Ever tried looking for a good binary options strategy? It’s not as easy as it sounds that’s for sure. If you don’t find yourself looking at a long list of outright scams you will be at least be presented with a long list. Which one do you choose? How do you know it’s a good one? Forums are a good place to find strategies but even there the task can be daunting. There are so many strategies, which one is the best? Which one even works? Finding out can be a night mare I know, it took me a while to find this one in my search for a decent one for this review. I had to search through a lot of scams, a lot of forums filled with SEO spam, and pick through lists of strategies with interesting names. This is what I have determined to be the best looking 10-15 minute strategy on the website BinaryOptionsEdge, a forum filled with a lot a crappy, hard to understand, overly complicated, why-waste-your-time strategies.
The Momentum Strategy
Believe it or not the Momentum Strategy, a simple, easy to understand, strategy was the best looking. There were others with exotic names like Two Candle Reversal Chidori and Holyfire’s Bread&Butter Strategy but those are all much to complicated and cumbersome to be of use. The Momentum Strategy simply uses the Momentum Indicator as given by MT4. It is also available in other platforms and can be used in any time frame, although higher time frames are recommended over lower ones. The works by moving above and below the 100 line, trades are taken when price action creates a cross above or below 100.
The author, one of the moderators of the site, suggest trading in line with the trend for best results. Trend can be determined by the Momentum Indicators as well. In order to weed out more false signals some other indications are required, support and resistance being two. These lines should be drawn on your chart, along with any relevant trend lines, in order to help weed out false signals. Also, the author suggests using candlesticks for you analysis. When prices are breaking above or below the previous candles, in line with prevailing trends, are particular good times for entry.
Entry : Call – When the MI is above 100 and rising enter calls on bearish price action.
Put – When the MI is below 100 and falling enter puts on bullish price action.
Why This Strategy Doesn’t Suck
This strategy doesn’t suck because it is based on a simple, easy to use, well-known indicator that is used by traders around the world. It has simple, easy to follow entry rules that are good for any newbie, and also a framework for more experienced traders to build a more profitable system.
Why This Strategy Sucks
This strategy sucks because it is real simple. If you just follow the basic rule, which is to trade calls based on candlestick action when momentum is above 100, you will probably do OK but I doubt you will have real success. There are just too many factors in play, and “candlestick action” is a very vague term. Don’t get me wrong, the indicator and the basic strategy are sound, there just isn’t much meat on the bone and that is sad.
My Last Thought On The Best Looking Strategy
My last thoughts on the best looking 15 minute strategy are sad ones. The strategy is OK, as I said, but nothing to get too excited about. The sad part is that there are a lot of strategies listed on the site but most require esoteric indicators, complicated entry rules, some kind of download and/or are just not well explained. I suggest if you want to use this you will need to add support/resistance and trend lines at least, and use candle sticks, otherwise momentum will buck you like a wild bronc bucks a dude!
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