Prepping For A Week Of Trading

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Prepping For A Week Of Trading

Preparing for trading takes many forms. This is a serious look at some steps you should take while getting ready for a week of binary options trading.

Get Ready To Trade Binary Options

There are many articles I could write under this title. They could range in topic from why you should trade binary to choosing the right broker, making your first deposit, verifying your account and many many more. The truth is, all of those things are right. They are important steps you must take in order to begin trading with confidence and success. That being said lets get down to the nitty gritty and assume you have already done these things and are now ready to actually trade. What are the steps you will take? How will you define your approach for the week and what are the catalysts you will target. To begin with you need to start fresh, it’s the beginning of the week so hopefully you have had a good weekend with lots of rest. If you had a really good (ie wild) weekend lets just hope you remembered to get to bed early enough on Sunday to be ready for the market on Monday. You have to think like a predator, getting ready, being ready, and then being patient while you wait for your prey, the trade, to walk before you. Then, when the time is right, you can pounce on it!

Learn to stalk profits by correctly preparing for binary options trading

The First Step In Preparing To Trade

The first step to any trade, and one I make each day, regardless of whether it is the start of the week or not, is to check the news. You never know what may have happened during the night when you were asleep. The world turns constantly, there is always a market open somewhere and/or some business, country or person who could have affected it. I look at news on two levels. First, I take the news in general. What are the general conditions. Is the world happy, sad, growing, slowing, expecting, disappointed or afraid. These things all play into how the market reacts and what it may do later. After that I will drill down into more specific news. I cover oil, gold, the US indices and some currencies so I look for news in all four categories. Oil and gold news can be easily gotten through a news service, usually free, that will gather and summarize relevant stories. News affecting US indices includes economic data, the FOMC, earnings and expectations. Also easy to get on any of a number of news websites including CNBC and Bloomberg. Currency news is a little trickier because you have to consider news from two sources, one for each currency, and then balance the two against each other.

The Second Step In Preparing To Trade

The second step to any trade I make, and the number two step in getting ready for a week of trading, is to check the technicals. I generally have a pretty good idea of what the charts show but it is always good to go back and make a fresh start, and anyway, things you learn when checking the news could influence your analysis. I always start with the long term charts of weekly prices. These show price action for one week with one bar, and show the long term fundamental trends, supports and resistances. I mark these when needed and make judgments about longer term price action relative to them. I then move down to shorter term charts of daily prices. These charts give me clearer indication of what to expect in the current week. Think of the long term chart like the tide, and the short term chart like the wave. Sometimes these charts line up and I make a trade based on them alone but usually stick to taking signals for day trades on the hourly charts or below. Finally, I move down to the hourly or half hourly charts to look for possible trades, using the tide and the wave to guide me.

The Final Step In Preparing To Trade

The final step in my preparation is to look at the week ahead and identify possible catalysts or sources or resistance. These could be political events, economic data, central bank meetings and earnings. You can easily find this data on economic calendars, earnings calendars and the Traders Almanac. There are usually hundreds of events each week, sometimes thousands, but you can usually narrow things down to a handful or so. I try to pick the ones most likely to produce market movement and then mark them on my charts. This way I will know when price action is approaching an important juncture and can use them as part of my technical analysis.

The Final, Final Step

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At this point preparation is complete. I have a grip on news, I have a fresh take on the technicals and have projected potential turning points onto my charts. The final final step is to assimilate all this together, with your strategy, and wait. Wait for the market to move, wait for events to happen, wait for signals and wait to make your trade. All this preparation is akin to a hunter stalking its prey. You get as ready as you can and then you wait, wait to pounce on some profits!

Prepping for the Week

February 15, 2020 9:08 pm

The approach that one takes to trading binary options can and will make a difference in the amount of profit that is generated. There is daily preparation, of course, but weekly preparation is also necessary. Hopefully you do take the time to enjoy your weekend, but also managed to set aside an hour or so to prepare for the week ahead. Not all trades can be planned in advance, but in many cases, entry opportunities are presented well before the markets open.

The first step will be to check the news to see which reports are already impacting investor sentiment. There will also be reports related to the coming week, including information related to upcoming economic and earnings reports. This type of information can definitely help with planning our your week. Be sure to look for news related to all four primary asset groups – stocks, commodities, indices, and currency pairs. Most successful traders would never dream of limiting themselves to only one or two types of assets.

The next step will be to have a look at the technical charts. These may or not be provided by your binary options broker. The best method tends to be starting out with the weekly charts, and then dropping down to the daily charts. Consider noting information such as whether or not a trend is in place, as well as where the key lines of support and resistance are located. Once the day to trade arrives, you can them check out hourly and 30-minute charts to see how the asset price is actually moving. By taking a look at the charts, you’ll be provided with a good idea of how prices may move in the coming week.

The last step will be to note the days and times of prospective trades. This can be done by referring to an economic calendar and earnings calendar. The total list of upcoming data releases may seem overwhelming, but keep in mind that you do not need to concern yourself with all of this information. Instead, there is the option to narrow down the list, choosing the data that is most likely to impact investor sentiment in such a way that price direction forecasting becomes easier. With a bit of time and experience, it will become easy to know instantly which reports to focus on.

Once these three steps are complete, you can rest assured that you are as ready as you can be for the week ahead. You should have a good idea of what to expect with regard to data, and should also have a good idea of how prices have been moving. At this point, you simply need to wait for the market to move, at which entry points will become much more clear. While you may not be able to plan each and every trade in advance, taking the time to prepare for the coming week will definitely place you in a better position to profit from each binary options trade.

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For Doomsday Preppers, the End of the World Is Good for Business

By Micah Maidenberg

    Aug. 11, 2020

Shoppers are buying six-month food supplies wrapped in military-grade Mylar pouches, and kits filled with duct tape, food bars and an air-filtration mask.

Some companies that specialize in selling items to people planning for the worst — so-called doomsday preppers — say they have had a bump in sales this week, after tensions rose between the United States and North Korea. Online searches for prepping and survival gear have also jumped.

The increase in sales is a turnaround from recent months. Revenue fell after Mr. Trump’s election, according to three of the country’s larger retailers that specialize in selling emergency preparedness.

“The whole industry kind of took a little pause after the election of Trump,” said Brandon J. Garrett, director of marketing at The Ready Store, which sells a wide range of prep products online and via catalog. “I think everyone was kind of waiting to see what kind of leader he was going to be and where he would take the country.”

“This week, it kind of seemed that everything picked up,” he said.

Emergency gear has its own retail niche, with devotees attending conventions and manufacturers coming up with specialty products. Some in the industry trace its rise to the aftermath of the Hurricane Katrina disaster in New Orleans; others believe it was stoked by those who opposed President Barack Obama’s two terms.

Prepper companies sell a wide variety of wares, from 41-pound pails of pinto beans and freeze-dried roasted chicken to fire-starter devices and water filters. Like other retailers, the companies have set up online sites, complete with one-day sales and discount codes. There are also traditional retail emergency readiness stores around the country.

Emergency Essentials operates four retail stores in Utah. The stores, in or near strip malls in towns outside of Salt Lake City, look a little like Petco, but the aisles are filled with ready-to-eat meals and solar generators instead of bags of kibble and litter.

The company got its start almost 30 years ago selling to members of the Church of Jesus Christ of Latter-day Saints — the church stresses preparedness — but has expanded its business to serve a wider audience across the country, according to Kevan Allbee, a marketing manager for Emergency Essentials.

When Mr. Trump won, “sales started a downward decline,” Mr. Allbee said. “In short summary, what we understand is when the left is in power, the right panics.”

Shane Sullivan, the company’s president, said that sales at Emergency Essentials on Tuesday, after President Trump made comments to reporters about North Korea, were double their usual amount. And revenue on Wednesday and Thursday surpassed what came in Tuesday.

“Clearly, when something happens in the world like North Korea right now, it is on people’s minds,” Mr. Sullivan said. “It just causes them to rethink where they stand in the event of war, in the event of job loss, in the event of a natural disaster.”

Not every company in the prepper industry has seen an uptick. Joe Marshall, managing editor of Survival Life, a website that supports an online retail operation and the Banana Bay Tactical shop in Austin, Tex., said it was too soon to see an impact on sales.

“The truth is, there’s been some chatter,” he said, “but for most of our people, they’re already preparing.”

Google searches for “prepper” hit their highest level in a month on Tuesday, while searches for “survivalism” neared a high last reached in July, according to Google Trends, a site from the technology giant that shows what users have been researching.

Keith Bansemer, vice president for marketing at My Patriot Supply, which sells bulk food, water devices and seeds, said customers have started snapping up the company’s six-month food supplies. They wanted to do something to feel more secure, he explained.

By prepping, “you’re actually alleviating fear,” Mr. Bansemer said.

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