Contents:Every trader uses his own trading tools to seek for profits, like use hunting guns to shoot down the prey. If you still don’t have your own “hunting” technique, then today we want to introduce to you a new developed day-trading system – The Golden Eyes Strategy.
What is a Golden Eye Trading Strategy?
The name Golden Eyes itself hinted that this system is invented for short-term traders who usually tend to hunt for opportunities from the smallest market waves. This system is composed of three indicators : a swing seeker, an ADX (Average Directional Movement Index) and a candlestick timer, and each of them has its own function. The swing seeker is the main indicator used to spot up or down swings – trading signals. The ADX will confirm whether those signals are worth trading or not. Finally, the candlestick timer is like an assistant tool which helps traders know the remaining time of candlesticks to be active with new market performance.
This short-term strategy works best on M15 chart. We have carefully tested the Golden Eyes with 50 orders and received a quite impressive result : about 80% win-rate! If you are a fan of Binary Options trading, this technique is worth trying.
How to trade with the Golden Eyes?
After adding the system into trading platform, you need to wait for new signals to be generated. This system has an automatically alert alarm which will sound when signals appear, so that you don’t need to constantly observe the charts.
Call signals: When an up arrow appears and the ADX line is above 25, a bullish signal is confirmed and you can enter the market with a call order.
Put signals: When a down arrow appears and the ADX line is above 25, a bearish signal is present. You simply open a put order.
If you like this strategy, you might also be interested in this Range Trading Strategy
There are some notes for the Golden Eyes as follows :
- You shouldn’t trade with this technique in the Asian trading session because the swings are very choppy. The best time to apply it is in the European session.
- The indicative arrows could repaint themselves, therefore you have to wait for them to be fully formed (the two candles next to them are closed) before making any trading decision.
- Order’s expiry time could be various. If the signal is in the direction of the trend, the finishing time should be 60 minutes. If you are counter-trending, the expiry time should only be 30 minutes.
The pros and cons of the Golden Eyes
First, it’s quite obvious to realize that this system is very easy-to-use. You don’t have to check dozens of complicating entering rules when opening positions like other systems. Secondly, the fact that it has a sound alarm helps you avoid missing trading opportunities. The most important thing you need to remember when applying this strategy is to wait for the arrows to be successfully formed before considering them valid.
The Golden Eyes – exactly as its name implies - is an effective tool which allows Binary Options traders to spot smallest trading signals like hunters spot and hunt the smallest prey. As Binary Options traders, we hope you enjoy this technique. However, please remember that there are no miracles which could make you win all the time. Besides having prior knowledge of technical analysis and practical trading experience, you also need to apply money managing and psychological controlling methods to minimize the trading risk.