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!
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.
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