This article is a guide on what binary options robots are and how they are used in the market to get trading results. But before we go ahead, there is need to do some self-examination here.
What are your trading results like? Are you oscillating between success and failure in your binary option trading? Would you prefer a more consistent approach to trading? Would you like to literally make money while you sleep? Binary options robots offer a way out for traders who want consistently profitable trading. If you are unsure of which trading strategies to use in your trading, you may want to consider using binary option robots.
A binary options robot is a software that has been programmed to analyze the market and perform automated trades based on certain preset strategies or principles. The binary options robots are designed with proprietary algorithms that are used in determining which trades to make. Binary options robots are rule-based and as such do not make some of the errors seen in trading that comes 100% from human input.
Binary option robots offer consistent high returns for binary option traders. They can often be integrated with the trading platform and all the trader has to do is set up and deploy them accordingly. The trader can then relax and monitor the performance of the robots while watching the profits rolling in.
Binary options robots use their in-built algorithms to search for trading opportunities and also execute the trades. Binary option robots have a huge advantage over human traders. In fact, most elite traders develop their own robots to trade according to a set of rules instead of applying manual discretion in selecting trades.
The most important advantage of using binary options robots is the discipline that they bring to the mix. A human trader may refuse to enter into a trade out of fear of sustaining a loss, even though the market situation conforms with the entry rules in his trading strategy. As a result of this fear, that trader could end up losing potential profits. Conversely, greed can make a human trader leave a position running longer than necessary. Binary option robots show neither greed nor fear and they adhere to the algorithm regardless of the market condition.
Furthermore, binary option robots execute the trades as soon as the signal is received. This is a key element in binary options trading, where trades are timed and one second can make all the difference between profit and loss. Many traders subscribe to a binary option signal service provider but the disadvantage tends to come from the latency that occurs between the time the signal is received and when the trading is executed. In trading, time is of the essence as market conditions change. Entry or exit at wrong times can lead to major losses. With binary option robots, such occurrences are avoided as the signal detection and the trade execution are done simultaneously.
Another advantage is that binary options robots allow you to diversify your trading by trading a variety of trading styles and strategies: risky or risk-averse, currencies or commodities. Diversification enables your trading to be both profitable and consistent. Some signals services can give a high win rate today but once several people start using this strategy, the strategy becomes outdated and the win rate collapses. By diversifying your strategy through the use of binary options robots, you would be able to get high returns on a consistent basis without the fear of one strategy becoming ineffective.
Binary options robots come with either free versions or paid versions. The free versions are usually a trial version with less features. As a trader, you should first test with this free version preferably with a demo account. If you are satisfied with the performance, you can now upgrade to the paid or VIP version. There has been an evolution in the use of free versions of binary options robots, as these are now provided for traders with limitless use, provided a commitment is made to use certain platforms to execute the trade signals.
There are many binary option robots that claim to help you make profits with an automated trading strategy. It is not possible for any individual trader to test them all. As a result, we have come up with a list of the top trading robots available. You can test these services with a demo account and make a decision on which one to use.
The unique selling proposition of OptionRobot is the ability to set trading preferences. It is an autotrading software that generates trading signals and also executes them in the trader’s account, which is linked with a compatible broker platform. The robot functions well with binary option platforms like Banc De Binary, Stock Pair, Tradorax, CherryTrade and GoOptions.
The robot is customizable to meet any trader’s risk acceptance criteria. Current users have claimed a win rate of between 60-80%. This is above the needed break even win rate for binary options trading which is usually 55%.
One reason for OptionRobot’s increasing popularity is that it does not require a previous knowledge of binary options trader. Even a total newbie can sign up and start using this trading robot to make instant profits.
In order to use Option Robot, all you have to do is open an account with a compatible broker and fund your account with a minimum deposit of $200. There is no download necessary. You simply go to the dashboard and select “ Start Auto trading”. Binary option traders can customize the settings of OptionRobot to select the asset for trading, amount for trading and expiry time. Traders can also select trading systems and indicators to suit their risk profile.
When using automated trading strategies, it is critical to continually monitor the win rates as certain market conditions can break the functionality of the robot and have an adverse effect on its success rate.
OptionRobot offers three binary options trading strategies (Classic, Fibonnacci and Martingale) and with the use of the best indicators like MACD, RSI, Stochastic Oscilliator and Coommodity Channel Index, it is able to generate trading signals that offer a high return on investment to its users. Traders are allowed the luxury of setting the trading strategy of the indicator from the three options provided.
OptionRobot is free of charge if you deposit funds with any of the several associated brokers on whose platforms the robot can be used. It is best to use only the minimum required capital to try out the service before going all in.
This binary option robot is linked to the CTOption platform, and therefore serves as a readily available means of executing trades on the CTOption platform in an automated fashion. In other words, a new trader on CTOption can simply open an account and activate the Binary Replicator on the trading account. This binary options robot comes in a free version and also a paid version known as the Binary Replicator Pro. Details of the robot’s performance are spelt out on our sister website on binaryoptionsrobots.co.
Algobit produces signals for binary options trades that can be executed on the OptionBit platform. Those who prefer to use the Tradologic style platforms of which OptionBit is a prime example, can get trades done on their behalf using the Algobit robot which is linked to this platform.
This trading robot promises a win rate of up to 90% depending on market conditions. Although you have to sign up for a free account in order to get any further information on them, analysis has shown that they provide a great service.
They have the lowest minimum trade amount among services offering automated binary options trading. Each trade can be entered with as low as 5%. It is no surprise that lots of traders have been able to double their investment in a short period of time by using Binadroid.
Binadroid combines three of the most successful trading methodologies (Technical analysis-Use of charts to study past price trends. Sentiment Analysis-An analysis of the views of expert traders and thought leaders on particular assets. Fundamental Analysis- An interpretation of statistical and economic results as well as news analysis.). The result is a robust trading system that has a high chance of generating profits.
This robot has an advantage over others because it can trade for you even when you are not logged in to your trading account. Historical win rates have been higher than 65%.
It is best to use binary options robots on platforms that allow traders to evaluate them using a demo account. Some of these robots come with a trial period. Even with reputable services, you still need to test as past performance is not necessarily a perfect indicator of future performance.
Binary option robots help traders who prefer a more hands free approach to trading to make profits. If you prefer consistent, rule-based trading, then subscribing for a trading robot service could help you make returns on your capital.