On Oct 7th, 2011, after I wiped my account with TradeRush and updated the broker review, I stated that “This is the end of the line between me and them, … from this point onwards, TR will no longer be mentioned again in future blog posts.” True to my word, I didn’t mention them until recently, I said I wouldn’t bother uploading the trades for TR since I was done with them…. or so I thought!
Just yesterday, their affiliate department contacted me and gave me a $100 free LIVE bonus to trade again “to see their improvements” on their platform. The bonus is redeemable for up to $500 max AFTER I reach a trade volume requirement of $2500, which is definitely do-able for someone of my caliber. Ive done it in the past . I’m guessing in their minds, they want to redeem themselves as a good broker and need me to change my view on them. I’ll consider this a contract job lol, need to get up to $2500 in trade vol. to get paid, if I finish the job I get paid, if not then nothing. Also gives them some exposure on the blog again, and helps me out with content to write about as well, so we’re both happy in that respect.
BUT, the main focus is the broker review. $500 (IF I can even get up that high) to me, means nothing in the long run, don’t think for 1 minute that I would give a “good bias’d review” just because I’m getting paid. I don’t provide bullshit to my readers. Everything on this blog is my complete and honest opinion based on my experience. If their platform has improved, then I’d be happy for them and be happy myself because then I could trade with them again since I like the idea of 60 second options.
So, to follow thru on my part of “complete information” I’ve compiled the missing trades between the last TR update till the time I wiped out + the trades from yesterday’s bonus till now and will post them below!
NOTE: I can only copy and paste from their site then changed columns to my own journal format as I did in the past, but I did it quickly this time, so if there are typos or something.. it’s because of that. ALSO, I can’t copy the arrow for call/put, these were manually typed by me, so don’t be surprised if something doesn’t make sense. Check the payout + the strike/expiry yourself if you see something wrong!
This marks the end of the last session, I don’t know what happened. Really don’t, I had a consecutive win streak, then lost it and wiped from moving to higher stakes :S. Below is the start of the $100 bonus that I got yesterday onwards.
I didn’t bother making a chart for yesterday’s trades, no point, it was choppy anyways since I couldn’t maintain my gains like I did today. I made a chart to show my strat (which is the same as it was during the summer). Using the 133 tick chart in combo with the 1min chart to see trend formation and how/when to trade it.
Previous trading endeavour from Aug 25th, 2011 to Oct 10th, 2011:
Win Ratio: 203/344 = 59.01%
$ Change: +$2.00
% Change: +2.00%
Trade Volume: $2,430.00
Current endeavour from Dec 20th (Bonus onwards):
Win Ratio: 23/34 = 67.65%
$ Change: +$20.50
When I finish this project, I’ll post the overall stats of ALL my TR trades + the current project’s ending stats.
I realized what I did wrong in the past as far as my strategy goes, their platform was still wack back in the day though, so I still don’t blame myself for that. I noticed from looking back, assuming I catch a good trend like I did this morning and yesterday, I have to walk away after I’m done trading that one trend. Here’s why it’s HARD to keep trading for long periods of time for 60 second options (assuming you can even profit in the first place).
- I was literally shaking after the trading session from all the excess adrenaline that started flowing as soon as I started trading. I don’t think it’s possible to stay calm making 14 trades within 11 minutes and win 11 of them.I don’t think it’s possible to stay focused the entire time if you trade 60 second options for more than an hour, imagine making 76 trades every hour (at my rate), that’s insane!
- You have to be able to spot trend reversal INSTANTLY, if you don’t and continue to trade the previous trend after it’s changed, you’ll lose like 5 trades before you realize the change and you’d just give back when you gained, which has happened to me yesterday and in the past. I thought this over while I was eating breakfast and as soon as I came back to the computer. I noticed the trend changed and figured I would’ve been fucked if I stayed another 2 minutes.
- Physiological functions and mentality aside, you have to be able to spot an actual trend to trade. If it’s consolidating, with red,green,red,green,red,green etc candles, up and down, you can’t trade properly. It’s impossible to time your 60 second expiry properly, that’s way too much effort by the way. You have to know how much time left is in the current candle, then see 60 seconds ahead to see if it’s possible to end ITM. Trend spotting is the key with 60 second options.