Binary Option Robot
The term Binary Option Robot is both a generic term for an automated system (robot) that places trades on your behalf using binary options. It is also the actual name of a popular automated trading robot.
What is a Binary Option Robot
These trading systems are developed to receive a constant stream of trading signals from various algorithms and to filter out the highly probable trade ideas and automatically execute the trade for the individual investor. Many robots have been developed in recent years by computer programmers, and are sold online. The reason they are so readily available is due to their inconsistent nature. It had been long known that anyone with a working black box algorithm (holy grail) does not sell it. Most binary option robots and trading software you are seeing today have one inherent problem; which is, the inability to modify the robot.
How to use a Binary Option Robot
The proper way to utilize a robot in your trading strategy requires planning and analysis. There are multiple assets available for trading including individual stocks, commodities, market indexes and Forex pairs. Since most trade signals are generated from technical analysis, it is important to see which asset is getting a higher percentage of profitable trade ideas.
Many times when markets get volatile and the trend changes, the signals generated turn out to be losers. It is important to constantly monitor the performance of each asset you are auto trading to ensure minimal loses and maximum gains.
Another item to watch for is the duration of the trade that you set the binary option robot to use. The same trade signal of Buy a Call on the $EUR/USD can be correct on the weekly and monthly time frame, but wrong on the daily or 60 second option.
Scam Robots
With the growing popularity of binary options trading, many new scams have been introduced. There are broker scams, and robot scams. The broker scams are when the broker you are introduced to is only concerned about stealing your money. Most of these broker scams come from unlicensed and offshore operations. Always make sure that you are using a broker that is licensed and regulated in your country. The robot scams are basically made up of fake testimonials about fake people that made a million dollars overnight.
If you would like to use a robot for binary options trading, then the most advanced one available today is from BinaryOptionRobot .
It makes no false promises, and it give you the ability to control many features of the software. You can also select which broker to use and choose from a few licensed brokers. You can register here. and receive a Free month of VIP access.