Mike’s Signals Group was created by binary options strategist and online mentor, Michael Freeman. This article serves as a reference guide for beginners joining this Private facebook group. With 6000+ binary options trading members in this group plus 20,000+ YouTube subscribers of his Binary Options Channel, Michael Freeman educates and fosters members on binary options trading strategies.
The trading sessions in Mike’s Signals Group are from Monday – Friday 24 hours, 5 days a week. No matter where you are in the world, there is always a live session with this binary options trading Group. There are various tools to work with. We will explore those tools, terminologies used, general guidelines on the CALL and PUT signals, trade expirations, etc. Note: This is a general overall guideline to help new traders ease into this Michael Freeman Signals trading group. READ the Group Rules on the right side under Description before posting anything on the Facebook Wall. Disrupting a signal session will jeopardize your membership with this Group.
Preparing For a Trading session
There are few basic MUST HAVEs before you start trading with the group. For a true binary options trading beginner, we suggest opening a demo account to get a feel for it before trading with real money. There are several brokers that provide demo account. Check out the top Binary Options Brokers based on regions.
- Broker Account or Trading Tool
- Access to this group. Anyone registering for Mike’s Auto trader or Neo2 Software through BinaryOptionsEliteClub will qualify to join Michael Freeman Signals trading group. Contact [email protected] after the registration.
- Device Timezone set to GMT. Note: It is easier to sync all the device, broker account and trading tool timezone to GMT since the signals are provided in GMT timezone to accommodate all global traders.
- Money Management Strategy
Tools and Resources
- Charts – use either of the following:
- Global Market hours – Market24hclock.com.
- Time conversion – WorldTimeBuddy.com .
- Economic Calendar – Investing.com or ForexFactory.com.
- BinaryOptions Reading resources – Babypips, Elite Club Basic Trading
- Binary Options Strategies – by Michael Freeman Signals
- Elite Club Money Management Strategy
Frequently Used Terms and Acronyms
Following are the acronyms used in binary options trading. Familiarizing these will help to roll and keep up with the comments and discussions in Mike’s Signals group.
- ITM = In the Money = Win!
- OTM = Out of Money = Loss!
- Turbo = 1 or 2 min trade expiration.
- CALL Option = When the underlying asset price is expected to go higher, a trader buys a CALL option.
- PUT Option = Opposite to CALL option, Put Option is when the underlying asset price is anticipated to drop; a trader buys a PUT option.
- Expiration = All options have expiration timeline. In binaryoptions, the CALL or PUT option’s expiration range anywhere from 60 seconds to End of Day (EOD) for Short term trading. Long term trading can go as far as 6 months with some of the brokers. The majority of the traders, in general, do short term trading.
- SR = Strike Rate.
- EOD = End of Day Expiration. 23:30 or 24 GMT depending on broker’s availability.
Admins & Trading Hours
There are several admins aka experienced traders in Mike’s Signals Group. It is recommended that as a beginner, follow one admin’s entire session. Each admin provide anywhere from 5 to 15 signals on a given day. Following all or most of the signals from one admin will give a complete experience and consistent ITM performance. Each admin has their set hours that facilitates for you to pick anyone that works for your timezone. Besides admins, there are also lead traders in Michael Freeman Signals trading group providing similar signals. Make sure to check the group “Description” on the right side of the Facebook page. All the admins and lead traders names are listed and updated weekly based on their trading performance. How do you know when the session is starting? You will see a note from the admin posted on the wall giving heads up about starting. Below is an example:
- Snir – 12 to 18 GMT
- Afzal – 12 to 18 GMT
- Rene – 21 to 24 GMT
- John – 1 to 6 GMT
Mike’s Signals Group: Example Signal
EUR/USD CALL SR 1.11565 exp 21:00 GMT
Let us break down this signal and provide insight. This is a simple and straightforward signal.
- Asset – EUR/USD currency.
- CALL – the Price of EUR/USD is expected to go high
- SR 1.11565 – Entry trade Strike rate is 1.11565 or below.
- Exp 21:00 GMT – The trade expiration is 21 GMT.
When this signal is posted on the wall, refer the chart for EUR/USD Price first to see where the current price is trending. If the current price is above 565, wait for it be at 565 or below. Only when it reaches that target price, enter the trade in the broker account or trading tool. In case it does not reach that target price, wait for the admin to give further instructions. Sometimes the trend line shifts. Given the dynamic nature of trading, the admin will use his/her expertise to alter the target price. Make sure to keep watching the chart and the Facebook updates during trading session. With the PUT signal, it is the opposite. Since the asset Price is expected to drop, wait for the current Price to trend above the SR before you place the trade in the broker account.
When placing the trade in the broker account, use the expiration time called out in the signal. In case broker account does not have that particular expiration, choose the next closest expiration.
Michael Freeman Signals Group Members Speak
The intention of Michael Freeman Signals group or forum is to provide signals to earn profits. For some members, this is their full-time income. Keeping socializing and chit chats to the minimum help every trader focus on tasks at hand. With 6000+ members and active trading sessions, it is imperative to follow rules and not disrupt any live signals session. Hope you find this article helpful and handy as a reference guide to your daily trading sessions. If we are missing anything or would like to see more information on any particular section, let us know – [email protected]