September Recap- A good month trading Binary Options
September worked well for the Geek.
Despite an unexpected downturn at the of the month September was a lucrative month for the Geek. I made 28 trades and closed the month with a record of 19 wins and 9 losses. My average return per trade was 70.5% and total returns, including my return on losing trades, were $3460. This means my total profit was $660, that is a 23.5% gain on my total investment of $2800 and I made it in only one month! For the most part my trades worked just like I planned but in a couple of instances I got lucky. Two of my trades were right on but closed barely in the green.
2 wins/2 losses
I traded the broad European market 4 times last month and was right half the time. I was able to ride the rally into the first half of the month but then my outlook outpaced the market for the second half. I’m in the red on these trades by a small amount but I know from experience that in the long term my profits will outpace my losses.
3 wins/1 loss
I also traded the IBEX 4 times last month. The Spanish index led the European markets in terms of volatility and hopes and provided several good entries. The short term pullback at the end of the month will likely provide a couple more.
2 wins/0 losses
China’s economy may be shrinking but it is helping my trading account to grow. I traded the Hong Kong index twice last month and made the right choice both times. The country is in a time of economic slowing but is still an industrial powerhouse. Hopes of easing and renewed stimulus helped to keep traders interested.
2 wins/ 0 losses
The Chinese markets were driven by data and tempered by hope, the downward trending market reached a short-term bottom that helped my eek a gain out of my two trades. The sideways bottoming action of the index almost prevented one trade from profiting but it closed in the green at expiration and that is all that matters.
2 wins / 0 losses
Business conditions down under came under scrutiny last month but failed to diminish speculation in the mining sector. I traded the ASX 2 times last month and profited both times. I will be looking to trade this market in the coming months because it seems to be buffered from the general global economy.
2 wins / 1 loss
This has been one of my most productive trades over the last two months. I traded the currency pair 3 times this month with good results 66% of the time. Last month’s rally in the euro vs the dollar was likely short covering but now leaves the pair unhindered by bearish sentiment.
3 wins / 1 loss
I traded the S&P 4 times in September and I was right 2 1/2 times. I say 2 1/2 because I was very lucky with one trade. My bullish play from 9/24 closed in the green but only by a very narrow margin. Last weeks selling took the market much lower than I expected, providing a much better entry (1435) than I expected. The lucky part is that because of my lower than expected entry I was able to get in below the expiration level near 1446 (which was lower than my original entry level of 1455).
1 win / 1 loss
The tech heavy Nasdaq was a tougher nut to crack and I only had a 50/50 ratio for this trade. Who can really know what drives the tech markets, there are so many factors and many are based on hard to predict variables like how consumers will respond to new products and conditions. I think I will be sticking to shorter term weekly expirations in this index from now on.
1 win / 1 loss
Apple is well loved by the markets and is likely going higher. The hard thing to pin down though is where it goes between now and then. I tried to ride the hype of the iPhone 5 this month and got dizzy trying to keep up with the stock. Apple crossed the $700 line in September and volatility entered the trade, quickly sending the stock back down below $700. I saw this at $500 and $600 and should have expected here as well.
1 win / 0 losses
I only traded gold once in September and that is probably a good thing. All the monetary shuffling and stimulus going on around the world has the price of this metal bouncing around like crazy.
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