Category Archives: Social Trading

geek feature

Another Year Trading With The Geek

Another year with the Geek, me Michael Hodges, has come and gone. It was a good year, 2014, and this year will be even better. I must say that I have grown over the past year as a trader and as a writer and hope that continues into the future. The beauty of social trading is that I know there is opportunity to do just that, grow, and that is what I plan to do this year. This article is a look back at the past year, what I’ve done, how my trading has evolved and just how I am doing. If you don’t know already I write a column with free signals for the Geek Account each week, posted on BinaryOptionsThatSuck.com, and share all trades in my account on Communitraders.


Social Trading Is More Than A Website


Social trading, more specifically binary options social trading, is more than just one website. Over the past year I have embraced that and have been exploring the bounds of what is available. On top of my work with BOTS (BinaryOptionsThatSuck.com) and BONET (BinaryOptions.net) I have been researching every new platform, service and forum I can find. My two favorites for binary are still at the aforementioned websites but there are others worth mentioning. BabyPips.com and DailyForex.com are my favorite fx forums and places to find me talking about strategy and analysis with those traders.

I tend to focus more of my time on the forum at BOTS where I produce my tips, make trades and talk analysis with a growing number of other traders. The thing I have come to understand is that this thing we call social trading is not limited to one website, but encompasses the community of websites that provide these services as well as the traders themselves. I have noticed, more than once, conversations in one forum spilling over into another because the community of traders encompasses both, and more. Communitraders is a good, great even, addition to the community because of the free demo platform they provide and cheers to them for doing it!

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All in all the social trading experience is enlightening and has helped me improve my trading. Talking with the other traders has helped me to better understand my own positions as well as see new angles. All while helping me to improve my trading. Maintaining the Geek Account has been one of the best learning experiences I have ever had in trading, and I had already been trading for close to 10 years when I started binary. It helped my trading but it also helped my money management and overcoming the spectres of fear and greed. I no longer worry about any one trade and now simply enjoy the lifestyle knowing my win rate is good and that I am making money.


The Geeks Stochastic Strategy

The stochastic indicator is one of my top indicators, if not the top indicator. I use it as the backbone of my trading strategy on every asset in every time frame. I like it because it is based on randomness and chaos, and because it works. The name stochastic is derived from the Greek stokos and is a reference to the chaos and randomness of life. The indicator assumes that you cannot predict the day to day movement of an asset because it is too random and based on factors with varying degrees of importance. What the indicator does is track the close of any given day relative to a set period and from derives and underlying direction.
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I like the assumption made by stochastic as it matches my own observations; you can never know what is going to happen tomorrow and how the market is going to react to it. What you can do is track the path of those day to day movements and derive the underlying path of the market and that is what stochastic does. It is often related to a man walking a dog. The dog will move side to side across the path of the man, and may pull the man from side to side as well, but the man will prevent the dog from moving too far in one direction or the other and over time will dictate the underlying direction in which the dog travels. I have begun to learn just how supple and responsive the indicator is, and not to discount the things it is telling me. It is a powerful tool for trend following techniques, and uncanny and identifying reversals before they happen.

Sounds complex and it is, I only understand the surface of the theories, but it is easy to use. Stochastic is an oscillator and as such provides dozens of types of signals, all of which can be incorporated into one macro stochastic strategy. Last year I began to summarize the ways in which I use this indicator with the Geeks Simple Stochastic Trend Following Strategy and have moved on to other articles and forum posts that go into further detail. I intend to continue with this in 2015, other articles will include how I use stochastic to measure divergence, to find resistance, to find support and other signal producing analysis. My suggestion, and the method in which I have begun to quantify my overall unifying Stochastic Method For Binary Options, is to start with the basic trend following strategy, master it and move on from there. You can keep get more info, talk to me and other traders about this strategy here The Geeks Simple Stochastic Strategy

Follow the leader to profits with binary options social trading.

Social Trading For Binary Options

What Is Social Trading?

What is binary options social trading? That is a good question. At first it was a fringe group of traders and websites trying to make sense of a complicated trading environment, now it is a structured community of traders with havens of fellowship like BinaryOptionsThatSuck.com, and Communitraders. At heart social trading is a community of traders that gather together via the internet. They do this in order to learn more about trading, to share ideas about analysis and the market, to gain support and most importantly to make money.

Binary Options Copy Trading
Broker
US Friendly
Copy Trading
Signal/BOT
CTOptions
YES Binary Replicator
AutoSignal
EmpireOption
YES
iFollow
Signals
BossCapital
YES
Not Available
Live Signals
Redwood Options
NO
iFollow
Live Signals
CTOptions 10 Risk Free Trades



The websites mentioned above represent the best that binary options social trading has to offer. Other sites have forums, other sites have some form of copy trading, articles about strategy and blogs by professionals but does any other website have the number of professional traders, the amount of trading knowledge, the volume of real live users actively posting on a daily basis and the best demo trading platform of any website on the internet? I don’t think so. The team at BOTS has been working hard over the past two years to build not only the best binary options website, but the best social trading platform.

More Than Simply Copy Trading

Social trading is more than just copying someone else trades. Social trading is the coming together of traders of all levels in a way that enriches the community. It allows the exchange of knowledge and ideas, the growth of the individual and in the end, profitable trading. That is what Communitraders is all about and that is why I use it.  It is an all in one source of trading education, current events, analysis, trading ideas and trading community with features that include a completely free demo account and the ability to link up with other traders.

Typical forex social trading is really just copy trading. There isn’t much social about it. There is no encouragement to interact, limited educational focus and trading that is pretty much cut and paste. All you do is pick traders off of a leaderboard based on only a few easly manipulated details. When you choose to follow a trader on Etoro or Zulutrade you are copying every trade that person makes regardless of their strategy and your wishes, until you cut them loose. Sure, they like for you to copy more than one trader for diversity but with this model you may as well be trading mutual funds, or baseball cards which would be even safer.

Communitraders Is Different

At Communitraders each trade is posted with a title, description and chart so everyone can see how and why the trade was made.  You choose to follow only the trades you want and no others. Yes, you can just copy trades if you want but the real focus is on education, and making profits. A saying I have always loved and that sums up the idea behind Communitraders is this; feed a man to fish he eats today, teach a man to fish he eats for a lifetime. Communitraders wants everyone to be able to make their own trading decisions so they can be profitable for a lifetime.

There are two ways to do this. You can follow more advanced traders and have their trades placed in your accounts or, if you are good enough, build a following of people who will copy you. Either way the opportunity to make money is there because you will either profit from trading or make money as others copy your trades or both.