Social Trading And The Geek Account
My name is Michael Hodges, they call me the Geek. They call me this because I geek out on technical analysis, trading and the financial markets. I got this nickname from my pals over at BinaryOptionsThatSuck.com when I started to write my weekly column Tips From The Geek. This is a weekly article with my observations, insights and, of course, trading tips for the week. I call it the Geek Account. I have been maintaining the Geek Account for many years with a long track record of success.
I have to write my tips in a way that are useful and actionable for other traders. That is the whole point, providing actionable, useful tips that other traders can follow. The account is based on strict money management rules and a disciplined approach to trading based on fundamental and technical analysis. The approach I use for this account is that of a day to day, or week to week trader. There is no need to be glued to the computer all day, just to be in touch with the market and make sound trading decisions aimed at long term success. Listed below are the rules and operational standards for the Geek Account. These rules are evolving over time so be sure to keep up with changes here and on my blog.
Social Trading With The Geek
You can follow along with the Geek Account at Communitraders Social Trading platform.
- Regular trades will be made once each week on Monday morning. Additional trades may be entered during the week if a strong signal occurs.
- Analysis for the Geek Account is made over the weekend and early Monday morning, before the market opens.
- Each week five trades will be made. My main market is the S&P 500, I trade it every week. Other primary assets include Gold, Oil, USD/JPY, EUR/USD, DAX, Apple and JP Morgan.
- Trades are made based on the daily charts.
- Trades are made in line with trends, either primary or secondary.
- Expiration will be one week or one month for primary trend signals, end of week, 3 days or less for secondary trend signals.
- Fundamental analysis is the basis of account sentiment. Technical analysis is used to pinpoint entry and expiry.
- Stochastic is used to confirm trend, signal trend following entries and gauge trend strength.
- MACD is used to confirm trend, signal trend following entries and gauge trend strength.
- Support, Resistance, Trend lines and Fibonacci Retracements are used to target areas where signals are likely to occur.
- All trades are the same size, 2% of account value. This prevents the need to decide each time how much to trade and keeps the account safe in case of a losing streak.
- Never let recent wins or losses affect trading decisions. Always make five trades, always follow the analysis.
- Strong signals, those confirmed by multiple indicators/signals ie stoch/MACD/price action/trend line can use shorter expiry. Also, strong signals from individual indicators can also use one week expiry ie the strong stochastic trend following signal.
- Weak signals will use one month expiry.
Regardless the strategy you use I think you find social trading binary options to be a very fulfilling and rewarding experience. If you ever have any questions about me, my strategy or my trading never hesitate to find me in the forum at BinaryOptionsThatSuck.com