Binary markets and todays DOW scalp trade
Last night, I found that my trading platform had 5 min UP/DOWN markets.. these are binary markets and allow you to bet on the movement of the DOW in 5 minute timeframes.. for example, you can bet if the DOW will go up or down in the next 5 minutes. I thought I would have a play and boy, was that the worst mistake.. it is pure gambling and I got my fingers burnt, I lost the equivalent of 70 points.. very bad! Anyway, I’ll try not to play with it in future as it’s not good for the bottom line.
Anyway, back home and played a quick scalp last lasting less than a minute.. the market had fallen from a double top and hit 10760. I noticed stochastics had bottomed out and so I waited to see if it would turn up and cross.. it did and I entered long. I closed out at the spike at 10800 or nearabouts for +16. The market since has got as high at 10850 but everything is so volatile, it’s best not to trade it right now.
