For lovers of automated binary options trading services, AutoBinary Signals is yet another service which they can try out. AutoBinary Signals is an automated binary options signals service which is operated by an individual trader known as Roger Pierce. According to Pierce this binary options trading software can function as a super-software, trumping any other software that is available in the market. The AutoBinary signals software has once been reputed to have made close to $273,000 garnered within a month of trading when the software was used by a hedge fund in a beta test. The story of the AutoBinary Signals software can be traced to Pierce’s journey of discovery from his early trading days after graduating from London School of Economics in 1982 and the market crash of 1987. In order to recover, Pierce had to work for a hedge fund, discovered their algorithmic trading techniques and worked with a programmer to use some of these techniques to bring the AutoBinary Signals software back to life.
Asset Types Traded
In order to successfully trade the binary options market, the AutoBinary Signals trade alert software has been programmed to be able to trade all asset classes that are featured in the binary options market. These assets include stocks, indices, currencies and commodities.
How AutoBinary Signals Software Works
The AutoBinary Signals automated trading software has been constructed with several indicators to increase the software’s trading precision. Specifically, the AutoBinary Signals software trades the Up/Down option and is able to predict price movement using its proprietary supply-demand price predictor as well as a custom-built technology known as the Auto Adaptive Profit Trade Technology. By combining these unique technologies with a system of five technical indicators, the software is able to detect trading opportunities using a two-step method of filtering signals. These filters are as follows:
- All the 5 technical indicators must align at the same time that the AutoBinary Signals’ strategy parameters have been met.
- The signal so produced must be in sync with the algorithms that have been designed from a backup strategy which Mr Pierce designed along with the software.
The AutoBinary Signals software is all about timing and this is emphasized by Mr Pierce in his speech when the software was launched for beta testing.
In order to receive the benefits of this service, traders are required to fill an opt-in form with their full details, after which they will be offered any of four subscription options.
How Much Does AutoBinary Signals Cost?
AutoBinary signals software is not free software, which is unlike many other products in this class. Traders must choose any of the four usage options listed below at the following rates:
- Main AutoBinary Signals software (full version) for a one-time fee of $97
- ABS Pro Signals Upgrade for $210 a month
- AutoBinary Signals Quad-Core PRO Strategies for a one-time fee of $125
- Pro Training for a one-time fee of $159
A 10-day trial for AutoBinary Signals service is also available for $4.95. Among paid automated binary options software, this free trial fee is probably the lowest in the industry. Payments can be made with PayPal and credit cards. After the free-trial, billing is automatically conducted unless cancelled by the user.
The Up/Down binary options trade contract is the only option traded by AutoBinary Signals. To utilize the signals after payment, traders must login to the members’ area of the website where the assets to be traded, the signal expected, expiry time and other parameters are all shown in tabular format. When a signal comes in, it is shown in this format:
This means that the chosen asset will rise with an 82% probability of trade success. This trading signal also comes with an audio alert, so as to provide the trader with audible early warning system of an impending trade opportunity. A countdown clock is also shown to indicate how much time is left on the validity of the signal. The trader can execute the signal on the chosen asset during the valid period. The trader is free to make a choice of the expiry time to use. On the asset list, a light bulb sign appears on signals on other assets which are still valid. The %age displayed beside the trade direction shows how assured the signal is: higher values indicate greater possibility of success. Success rates are seen to be lower when the percentage displayed is low. You can also click on the Details tab to get more information about the signal as well as the chart showing the chart movement and the reasons for the trade direction.
Signals are also colour-coded. Green is used to indicate signals which are still fresh, yellow is for signals which are winding down and not as valid as before, while grey is for expired signals. Usually, it is recommended to pass over signals with only 1 minute left on the countdown timer.
Auto Binary Signals can be used on the following binary options brokers:
- Redwood Options
- Banc de Binary
Pierce claims that the minimum risk, maximum returns model of the trading software have ensured that the profitability rate from the signals service is 80%. This has not been independently verified. It is left for you to test this yourself to see if this is the case.
Pros and Cons
A huge advantage of this service is that unlike other automated binary options services which make it compulsory to use the brokers that they work with as a prerequisite for using the service, Auto Binary Signals will allow you to use your existing brokers for the service. There is no towards usage of particular brokers.
Furthermore, Auto Binary Signals cater for short term, medium-term and long term expiry times for the Call/Put options. So it is possible to set expiry times as low as 1 minute or 2 minutes with the signals service, and as high as one hour as well.
There is also a 60-day money-back guarantee on this service, and daily proof of signals delivered by the service is shown and updated on a daily basis. This attests to a degree of transparency in the company’s services.
Traders have complained of continually being sent sales pitches urging them to upgrade their membership.
Upgrades are also required to enjoy the fully automated trading option. The signals are ordinarily semi-automated: the signals are given by the software and the implementation done by the trader.
The signals and the trading software have no integration, and traders have to open the two interfaces (signals service and trading platform). This makes it difficult to work with software on mobile platforms.