Binary Code Breaker is a brand new Forex trading strategy from Jason Alexander, published by Canonbury Publishing. I’ve got a copy in front of me and in this ‘first look’ I’ll give you a quick rundown of what’s involved
You may have come across Jason Alexander before – he’s worked with Canonbury for years and has an impressive armoury of Forex trading strategies (including Forex Hijacker and Ad Break Trader).
I like him because he’s straight talking and often goes beyond the call of duty to help members.
The service (or strategy I should say) is already off to a great start, with all the beta testers currently in profit and averaging nearly a 70% strike rate.
That’s seriously impressive considering you only actually need a 56% strike rate to make a profit using this strategy.
This is the only Forex trading strategy I’ve come across which genuinely lets you trade when you want to
What really sets Binary Code Breaker apart is that you can use it to trade at anytime (Monday to Friday).
You can literally trade it morning, noon or night, which I know will be an attractive prospect to a lot of readers.
Why is that?
Well, instead of trading volatile markets where there’s lots of movement (think spiky, ‘tear-your-hair-out’ charts) you’re looking for quiet, flat markets, where there’s little activity.
Pick the right currency pair and you can always find a quiet market – Jason shows you exactly how to go about this.
If you work funny hours or you find it tricky to get online at certain times of day, this is definitely worth looking at because it gives you a lot of freedom and flexibility.
It’s also easier on the blood pressure because crucially you trade off a Binary Betting platform (rather than Spread Betting).
Binary Betting is a faster and simpler way to trade Forex
Traditionally Jason’s strategies have focused on Spread Betting, but Binary Code Breaker uses Binary Betting – a newer and much easier way to trade Forex.
With Binary Betting you’re looking at a simple YES or NO outcome. You’re either saying:
1) You think that the market level will finish ABOVE the line at the end of your selected betting period.
2) You think that the market level will finish ON or BELOW the line at the end of your selected betting period.
If you get it right, you win the payout rate that your broker offers, which for arguments sake might be 82% (as Jason highlights). So if you place £20 on a trade and it wins, you get back £36.40.
If you get it wrong, you only lose your stake.
That means there are no runaway losses and you never have to worry about when to exit a trade.
How does the strategy work?
I can’t reveal the secret here obviously, but it’s one of those, “draw two parallel lines on a chart” type strategies (it really is very straightforward).
You’re only ever trading quiet markets so it’s a very relaxed process.
Here are some key facts:
- Recommended minimum stakes are £20 (with a £200 start bank)
- Trades only last 20 minutes
- You don’t need to monitor trades (unless you’re a masochist)
The actual process of spotting and placing a trade only takes a couple of minutes and because trades are short you know very quickly whether or not you’ve landed a profit.
Feedback so far has been very positive, both in terms of the profitability of the service and in terms of Jason’s support.
Binary Code Breaker: Pros and Cons
Hard to pick too many faults at this early stage but one thing to point out is that while you only need a 56% strike rate to make a profit on Binary Code Breaker, you really need to be hitting 70% to make a meaningful profit from this (unless you’ve got a very large starting bank).
I’d also highly recommend reading both the manual and watching the videos. I’m normally someone who ‘gets’ things by reading them, but in this case I understood the strategy best by watching the videos. It clicked and made sense in just a few minutes hearing him explain it to me with the visuals.
As I mentioned earlier this is the only trading strategy I’ve come across that let’s you trade whenever you want and I think that’s going to appeal to a lot of people.