1-Minute Binary Options Trading Strategy: $100 to $13,628 | Can I Reach $100K?

Summary

In this video, the trader shares their journey of turning $100 into $12,000 through a trading challenge, aiming to reach $100,000 in 75 days. The focus is on using one-minute scalping strategies based on price action for trading, specifically in the Euro US Dollar market. The trader emphasizes patience, waiting for the right opportunities, and only taking trades when the market confirms a favorable direction. With a combination of breakout setups and reversal strategies, the trader successfully executes multiple profitable trades, ending the session with $1,600 in profit and a balance of $13,600.

Takeaways

• 😀 The goal of the challenge is to turn $100 into $100,000 in 75 days, and the trader has already made $12,000 in 40 days.
• 😀 The trader's strategy is based on one-minute scalping, using price action analysis to make trades on any market.
• 😀 The trader focuses on waiting for clear price structure formations before entering trades, avoiding risky trades in uncertain market conditions.
• 😀 When a strong reversal candle forms but no clear sell opportunity appears, the trader prefers waiting for a reversal to the upside instead of selling.
• 😀 The trader avoids taking trades when there is a battle between buyers and sellers, as this typically results in losing trades.
• 😀 The strategy involves waiting for breakouts, particularly looking for price to break past recent resistance or support levels to confirm trade opportunities.
• 😀 The trader prefers to take trades in the upside direction, even when price shows signs of downward movement, as they believe recovery is required.
• 😀 The second breakout strategy is employed after waiting for a retracement and then a second breakout confirmation to ensure the trade direction is strong.
• 😀 The trader uses support levels to place reversal trades when the price weakens, indicating a potential upward movement.
• 😀 Patience is key in this strategy; the trader waits for clear signals before making a trade, sometimes waiting for 20 minutes or more for the right opportunity.
• 😀 The trader made a total profit of $1,600 from three successful trades, ending the session with a balance of $13,600 after consistent, methodical trading.

Q & A

What is the main goal of the trading challenge mentioned in the video?

The main goal of the trading challenge is to turn $100 into $100,000 within 75 days. The trader is currently on day 40 of this challenge.

What type of trading strategies does the trader use?

The trader uses one-minute scalping strategies based on price action. These strategies can be applied across various markets.

Why does the trader prefer to wait for a proper price structure before placing trades?

The trader waits for a proper price structure to ensure a higher probability of success. This includes waiting for key breakouts or reversals, which provide clearer entry points for trades.

What is the significance of a 'breakout' in the trading strategy?

A breakout signifies a change of character in price action. When the price breaks through a significant level of resistance or support, it signals a potential shift in the market trend, which the trader uses to place trades.

How does the trader decide whether to go for a buy or sell trade?

The trader decides based on the overall price action and trend. If a strong downward move occurs and the market shows signs of reversal, the trader will only place buy trades. The trader avoids sell trades if there is a need for price recovery.

Why did the trader not place a trade despite having bearish confirmation at certain points?

The trader did not place a trade because they were in favor of the price going up due to prior steep downward moves, and they were waiting for a clearer reversal confirmation before making any trades.

What is the role of the support level in the trader’s strategy?

The support level acts as a key area for potential reversals. When the price shows weakness at a support level, the trader looks for a reversal pattern to place a buy trade.

What does the trader mean by 'change of character' and how does it affect their trading decisions?

A 'change of character' refers to a shift in the market’s behavior, typically marked by a breakout above resistance or below support. This indicates a new trend, and the trader uses this as a signal to place trades in the direction of the breakout.

How does the trader handle moments when the market is indecisive or shows no clear direction?

The trader refrains from entering trades during indecisive moments when the market is showing no clear direction. They prefer to wait for a definitive signal or pattern to emerge, such as a breakout or reversal, before acting.

What was the result of the three trades made by the trader during the session?

The trader placed three trades, all in the upside direction, based on reversal setups. These trades were successful, resulting in a total profit of around $1,600, bringing their account balance to $13,600.