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Fishing Strip Binary Trading Strategy

Discussion in 'Advanced Options Strategies' started by Lily, Sep 22, 2015.

  1. Lily

    Lily Forum Member

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    What Is Fishing Strip Binary Trading Strategy?

    The goal of this strategy is to identify turning point i.e. where the trend is likely to change. The strategy is suitable for 15-minute and higher time frames.

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    Fishing strip binary trading strategy may be used for all currency pairs, commodities, indices, stocks and futures. Bollinger Bands technical indicator is used in this strategy.

    High/Above/Call/Up Position

    A preliminary signal is received when the first candlestick closes below the fishing strip, and the following candlestick closes within the strip.

    2.png

    The trade should be entered at the start of the third candlestick.

    Low/Below/Put/Down Position

    A preliminary signal is received when the first candlestick closes above the fishing strip, and the following candlestick closes within the strip.

    3.png

    The trade should be entered at the start of the third candlestick.

    Practical Demonstration

    Let's take a look on the practical example of this binary trading strategy. First of all, you need to insert bollinger bands indicator on the chart which may be done by clicking Insert > Indicators >Trend > Bollinger Bands as demonstrated in the following graphic.

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    Now open the properties of bollinger bands and select 20 in period, 0 in shift and 2 in deviations box. Apply to should be close and the style may be black. Now click ok and here you go.

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    In the following USDJPY four-hour chat you can see the fishing strip binary trading strategy in full action as first candlestick closed below the fishing strip, and the following candlestick closed within the strip.

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    So we will entered a High/Above/Call/Up position as the third candle closed above the second candle as demonstrated in the following chart.

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    This is how fishing strip strategy may be used to maximize profits in binary options trading.
     
  2. Sean126R

    Sean126R Guest

    What expiry should be set for 15 min time frame?
     
  3. Lily

    Lily Forum Member

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    it depends what time frame you are using i.e. higher expiry time for higher timeframe
     

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