Turbo option or binary option. Binary options for less than a minute - is it still trading?
To put this statement in another form, the Turbo option or binary option Turbo Marksman indicator is actually a set of indicators and not a single indicator.
So when a trader wants to trade an asset, he has to attach the specific indicator to the specific chart. When the indicator has been loaded into the custom indicator folder of the MT4 client and attached to the chart, it is now primed to deliver signals that can be used to trade the asset on the binary options platform.
It does this by the means of an arrow; a red arrow which startup option as downwards for a bearish signal and a green arrow which points upwards for a bullish signal. Whenever a signal appears, a sound alert goes off to alert the trader on the appearance of the signal.
A pop-up box also comes up showing the direction of the signal, the asset to be traded and the time the signal appeared. Traders need to be very alert to this as whenever the MT platform is opened, the pop-up box and the sound alert appear.
A trader may be deceived in thinking that this is a new signal, therefore the time of the signal should be checked before any decision on entries is made. It is essential to point out that the signals generated by this indicator on a 1 hour chart are extremely short term in nature, hence timing of the trade entry on the binary options platform is crucial for the successful implementation of this strategy.
For this reason, it is essential to add a second indicator known to the mix.
This indicator indicates how long a candle has been open and how many more minutes it will remain open. Since the charts used are one hour charts, each candle represents the price action over an hour.
The longer the candle has been open, the lesser the reliability of the signal. The best signals are those which appear within the first 20 minutes of the candle open.
Next to the indicators, there are more than 12 different timeframes for the chart available. In other words, once the trader has lost a certain amount, the trade automatically closes.
This can be confirmed with the CandleTyme indicator. Expiries can be from 30 minutes to 2 hours.
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