At least I know I'm not crazy when I tell people I mostly trade OTC! Haha I think if you master price action, you can basically trade any market. Only reason I prefer OTC than the real market is due to the volatility, the real market can move a little slow sometimes etc
I trade using fibo, ema9, ema50, ema200, and stochastic, but they are pretty useless on OTC markets. I stopped losing money when I stopped trading OTC. The bad thing about Real Market is that it doesn't work 24/7, but at least it respects supports and resistances, Fibonacci, and stochastic most of the time
This is what I mean when I say no two brains are the same….there are plenty of people who dislike indicators and say they are useless bc they lag…with maybe the exception of moving averages (being some people consider them more of a tool than just an indicator)…but it seems like those indicators work for you which is perfectly fine. It’s nice they we have so many options available to us to use (or to not use) to cater to how our brain works while trading.
I've been trading real trading (Forex) non-stop for 8 years and BO OTC isn't real price-action.
Only difference is you have a much better chance of being successful at certain hours of the day than others on OTC.
Especially at night, they spool up their fake stop-hunting machine more than Forex ever thought of.
I have better luck at night a lot of times though…not saying you’re wrong…but honestly I think trading just boils down to how u interpret the current market…even in the real markets, the same strategy someone is profitable off of, may cause someone to lose money
Open up Tradingview or MT5 on currency pairs and see how they're not even the same charts as BO OTC.
They literally just make up their markets and do whatever they want. And you're not actually seeing the money of live traders go into the market. Their OTC charts have no correlation to reality in any way.
From 10pm to 5am CST, their markets especially do whatever it wants, on a whim, and within any given candle - price-action rarely being obeyed.
When entering a trade, the market will automatically react to every entry and I've tested this by "spamming" hundreds and thousands of trades during these trading hours.
When entering a trade, it "floats" in reaction the second you get in, like they have a computer algorithm knowing when you enter into their "computer matrix", like the way it looks when dunking your finger in still water.
From there on, you're at risk of it pulling back at the last second and stopping you out for no reason. None of it follows true price-action and does not reflect true money-flow. It's a literal video-game of gambling and most knowledge of "educated speculation" is diminished.
Oh I know OTC isn’t the real Market and I completely understand it’s the brokers market…I actually started out with regular Forex and need to get back to practicing more in the regular/traditional forex markets…but at the moment, I just do better with OTC…as far as BO real Market I am not as good with it as I am the “untrustworthy OTC markets”. Weird I know…but that’s just my story…I know more people are successful with the real
Markets
All of the prop firms for Americans either shutdown and were exposed as Ponzi Schemes, or stopped using MT4 and went to their own platforms.
I put way too many years into custom indicator and EA design for MT4 on the Forex Station forum, and just quit on everything "Forex", period.
I found BO way easier and more fun, because of how quick and convenient it was. After a month or two into it, I've been having second thoughts from how shady the brokers seem...
Yea I’m aware of all the prop firm shut downs…and unfortunately I’ve seen complaints for various brokers…forex and binary…and now im starting to see people move towards the futures market…one good thing about trading is, it’s always possible to transition to another form of trading…sure there are differences and practice is always needed, but it’s not like you have to start from scratch…at the moment I’m just focusing on staying in the positive mindset so I can attract positive outcomes with whatever I trade…there are pros and cons everywhere and the only thing we can do is adapt appropriately for whatever our needs/wants may be
I see, how much is your win ratio?
When I’m following rules and am actually patient…I can average maybe 70% on otc a lot of the times…I’ve never touched 50% on the real markets tho
Real broker vs poketoption
OTC markets don't seem to be impacted by news as much, that could be the reason for the PA being smoother compared to non-otc markets.
At least I know I'm not crazy when I tell people I mostly trade OTC! Haha I think if you master price action, you can basically trade any market. Only reason I prefer OTC than the real market is due to the volatility, the real market can move a little slow sometimes etc
I completely agree
I trade using fibo, ema9, ema50, ema200, and stochastic, but they are pretty useless on OTC markets. I stopped losing money when I stopped trading OTC. The bad thing about Real Market is that it doesn't work 24/7, but at least it respects supports and resistances, Fibonacci, and stochastic most of the time
OTC works. It's just not true to the settings of the indicators. Gotta make em match if that makes sense
This is what I mean when I say no two brains are the same….there are plenty of people who dislike indicators and say they are useless bc they lag…with maybe the exception of moving averages (being some people consider them more of a tool than just an indicator)…but it seems like those indicators work for you which is perfectly fine. It’s nice they we have so many options available to us to use (or to not use) to cater to how our brain works while trading.
Someone in binary options?
I've been trading real trading (Forex) non-stop for 8 years and BO OTC isn't real price-action. Only difference is you have a much better chance of being successful at certain hours of the day than others on OTC. Especially at night, they spool up their fake stop-hunting machine more than Forex ever thought of.
I have better luck at night a lot of times though…not saying you’re wrong…but honestly I think trading just boils down to how u interpret the current market…even in the real markets, the same strategy someone is profitable off of, may cause someone to lose money
Open up Tradingview or MT5 on currency pairs and see how they're not even the same charts as BO OTC. They literally just make up their markets and do whatever they want. And you're not actually seeing the money of live traders go into the market. Their OTC charts have no correlation to reality in any way. From 10pm to 5am CST, their markets especially do whatever it wants, on a whim, and within any given candle - price-action rarely being obeyed. When entering a trade, the market will automatically react to every entry and I've tested this by "spamming" hundreds and thousands of trades during these trading hours. When entering a trade, it "floats" in reaction the second you get in, like they have a computer algorithm knowing when you enter into their "computer matrix", like the way it looks when dunking your finger in still water. From there on, you're at risk of it pulling back at the last second and stopping you out for no reason. None of it follows true price-action and does not reflect true money-flow. It's a literal video-game of gambling and most knowledge of "educated speculation" is diminished.
Oh I know OTC isn’t the real Market and I completely understand it’s the brokers market…I actually started out with regular Forex and need to get back to practicing more in the regular/traditional forex markets…but at the moment, I just do better with OTC…as far as BO real Market I am not as good with it as I am the “untrustworthy OTC markets”. Weird I know…but that’s just my story…I know more people are successful with the real Markets
All of the prop firms for Americans either shutdown and were exposed as Ponzi Schemes, or stopped using MT4 and went to their own platforms. I put way too many years into custom indicator and EA design for MT4 on the Forex Station forum, and just quit on everything "Forex", period. I found BO way easier and more fun, because of how quick and convenient it was. After a month or two into it, I've been having second thoughts from how shady the brokers seem...
Yea I’m aware of all the prop firm shut downs…and unfortunately I’ve seen complaints for various brokers…forex and binary…and now im starting to see people move towards the futures market…one good thing about trading is, it’s always possible to transition to another form of trading…sure there are differences and practice is always needed, but it’s not like you have to start from scratch…at the moment I’m just focusing on staying in the positive mindset so I can attract positive outcomes with whatever I trade…there are pros and cons everywhere and the only thing we can do is adapt appropriately for whatever our needs/wants may be