This is true, your math is right, but assumes you allow the losing trades to go to expiry, and settle at 0. The best practice for Nadex is the same as non-binary trading: limit your losses. If the trade is going south on you and you apply a rule that you close it when it hits -$30 or -$40, then you lose $810-1,080 in your calculation. The profit on the 100 trades becomes $380-650. I almost always close my Nadex trades before expiry, win or lose, but that's just the way I trade it. Everyone has their own style.
I'm not defending the guy, just saying a 73% win rate is very good on any trading platform if you manage your risk.
Btw, from what I saw on the videos, Neal usually gets in for a $25-33 profit, so his average trade would have a slightly bigger return and smaller loss at expiry.
MY GOLDEN SIGNALS AND RICHARD NEAL ARE SCAMMERS
- Thread starter jeffie1
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- mygoldensignals.com
Sure, there are times when those $25 to $30 strikes can be had. If you looked at my trades you will see that as well. You'll see many trades exited with both profit and loss too. If you view enough of Neal's videos, you will see him trade puts many trades on at $13 - $15 potential profit.
I mostly trade OTM strikes where a 30% win rate is very profitable. However, I am embarrassed to say that I've been trading for 2 decades (4 years on Nadex) and allowed myself to be taken by this guy. Hopefully I can save traders, especially new ones, from being had.
ilikepeas
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73% is not very good when you are risking double, triple or most of the time 4x what you are trying to win.. and by the time you jump out of the trade by trying to minimize your loses you are already most likely 2x or 3x down, because if you are jumping out of the trade earlier than that then you are likely just guessing.. especially on those 5 minute binaries as they jump all over the place since the indicative is usually extremely close to the strike price
btw what do you mean by "Neal usually gets in for a $25-33 profit, so his average trade would have a slightly bigger return and smaller loss at expiry."
you do realize that 25-33 profit is 67-75 risk which is a 4 to 1 risk right? ive been trading for a little over 2 years now and have done ridiculous amounts of studying and practicing, and i dont think ive ever come across traders that are risking more than they are trying to profit, usually you are trying to go 1:2 risk/reward or at the very least 1:1.5, anyways not sure why anyone would defend him, its obvious he trades on a demo account
ilikepeas
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how come this thread died out? i think more people need to know about this scammer so more people dont lose their money, especially when this idiot is asking for hundreds of dollars, btw im not sure if you ever posted a review but it was never posted onto the review area, you should do it.
Hey Ilikepeas.
If I understand it correctly from the Admin for cases, it should be put out for a verdict next week.
Yea, this guy is still preying on new traders that don't know, what they don't know. He is now offering a ATM 5 min strategy for $500 and all of his strategies for $1300 from his (non-existent) "University".
Regarding the review, I thought I did that already. Not sure how to take new action to get it done. Any advise would be appreciated.
ilikepeas
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jeffie, click this link and click "add review" if you have done it already maybe they are just very slow to put it up there? i did it and it was up within a day
https://www.forexpeacearmy.com/forex-reviews/13892/mygoldensignals-binary-signals
btw, i watched one of his videos earlier and got a screenshot of him being in demo, its a typical video where he is claiming it is live but its clearly not live to anyone who has a lot of experience in nadex, if you are unsure how to tell a difference open up a nadex live and nadex demo account, theres a difference between them and this guy obviously made a mistake this time
http://imgur.com/a/CN5uY
https://www.forexpeacearmy.com/forex-reviews/13892/mygoldensignals-binary-signals
btw, i watched one of his videos earlier and got a screenshot of him being in demo, its a typical video where he is claiming it is live but its clearly not live to anyone who has a lot of experience in nadex, if you are unsure how to tell a difference open up a nadex live and nadex demo account, theres a difference between them and this guy obviously made a mistake this time
http://imgur.com/a/CN5uY
Hello: I submitted a 1 star review for this company but can't seem to find it. Did I not do the submission correctly?
FxMaster
Colonel
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- 12,252
You will get your proper answer here https://www.forexpeacearmy.com/community/threads/hey-dude-wheres-my-review.42719/
ilikepeas: Thanks for the heads-up on the review posting. My initial review was rejected because I was using a VPN. So I resubmitted it according to the requirements. It should appear in a few days. I received confirmation that the court case should be submitted for votes next week.
The slip-up he made proving he is trading on a demo account helps add to the evidence. Thanks!
Blessed4Trading
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Have you filed a claim through PayPal?
