Binary Options Robots
Have you ever wondered about how to automate or turn the process of earning in binary options into an easy technical procedure in which your computer does most of the work? If you have, you’ve probably heard about trading robots that are able to do all necessary technical actions for a trader.
From this article you will learn:
- What kind of trading applications exist.
- Is it worth buying them?
- How and when to use them.
Types of robots for binary options
Firstly, all programs can be classified as paid or unpaid versions. Both kinds function primarily on some already existing trading strategy – this is what they have in common. The difference is that more difficult scheme functions are used in paid products, and they can handle more market situations.
Unfortunately, the majority of trading robots on the market are a gold mine for info-businessmen. These people offer a wonderful program for $20-100 that will replace a magic machine for making money around the clock. You will need to
- Buy an offered product.
- Set it up once.
- Make money.
The experiment: right now try to find any website with a binary robot and look at how much it costs. The question: do you really think that paying such a ridiculously small amount you can make you millions?
The summary: the effectiveness of paid products in reality is close to zero, although they are able to analyze the market more precisely.
Also, all robots can be categorized by the mode in which they function; there are automatic and semi-automatic binary robots.
Automatic binary robots
Automatic binary robots independently analyze the graphs to find the right moments for entering and making trades. A trader should make a point setting and periodically monitor the process. The weak point of these robots is that they can’t assess the complexities of the market – they can’t track the news releases and make the necessary and timely corrections to their strategy.
The automatic robots are used very infrequently because they are not able to increase the deposit, despite this technology’s tempting possibilities. Also, it is almost impossible to find a suitable program that can be used without connecting to a broker who has created it.
The one way to organize trading on autopilot is to write your own program. It is hard and takes time, because besides the programming skills, it is very important to choose correctly and test a trading strategy as a base on which the robot will function.
This simple instruction will be a guide for users who decide to undertake this uneasy task.
- Read all of the rules of a chosen system and find out the following details: what is the average frequency of opening deals? what are the rules of money-management? what kind of strategy is it? does it have special or additional conditions? and etc. After such a review, you should fully understand the logistics of your earning tactics.
- Separately, write out the rules for the opening and closing of positions. Remember, working with binary options mostly suggests speed trading where there is no time for memories. Train with a timer and learn to find entry points in less than 25 seconds.
- Try this option – the «strategies tester» in the MetaTrader 4/5 terminal. Work on this simulator until the balance of profitable and unprofitable deals reaches a value of 3:1.
- Open a demo-account on the website of any binary options broker (you can look here). At this stage you have to learn how to add at least 20% to the amount of deposit. Continue this way at least for 2 months. If you are not interested in opening deals for nothing, spend your 10 dollars as an experiment and try to reach up 15 USD.
- If all of the above stages don’t cause you any difficulty, let’s assume you have passed the test and are ready for a large profit and a standard deposit.
- Place a tested strategy in the code and synchronize it with a chosen broker (there is one difficulty that will need to be overcome).
- An example of an automatic robot for binary options is here.
The best robots for binary options
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Semi-automatic robots for binary options
Semi-automatic robots (or counselors) are famous for their market analysis and prompt the trader regarding favorable signals for the buying/selling of an option. A user estimates a situation and makes a decision about entering in the position or ignoring a signal. That’s why robots have a disadvantage: without the command of a trader, a deal can’t be activated.
The semi-automatic programs are in high demand because they allow a trader to take full responsibility for his/her funds and at the same moment get notifications about potentially profitable deals. For example, a robot at OptionBit has been proven useful and was developed by a broker of the same name. After registration, it can be used absolutely for free for a week.
- There are paid and unpaid robots that don’t differ at all in their functional possibilities.
- A trading robot can trade in the automatic and semiautomatic modes.
- At the present moment, the best way to organize effective auto-trading is to create your own robot. It is a long, hard and difficult task for some people.
- A semiautomatic robot is a great instrument that can help a trader avoid missing a potentially profitable deal. The most important thing is the algorithm of its function, which should match the trading strategy that a trader follows.
In theory, the robots for binary options trading make trading easier and more profitable. In practice, everything is different because the technical imperfections of paid and unpaid products create a lot of questions. Therefore, today’s trader can’t trust his/her deposit to a robot.