Night Owl Signals is a personalized binary options signals service that commenced operations in 2014 and has now grown to include a membership of more than 100 traders. The service is based on personalized trading calls which are delivered live out of the trading room managed by the NightOwl Signals team. Signals are therefore not sent to the phones or emails of subscribers, which eliminates the delays that are sometimes experienced in receiving signals as a result of technology-based failures.
The principle of delivering signals using a trading room was adopted to introduce a personal touch to the service as well as to provide traders with the learning atmosphere that trading in a community brings. This is because traders tend to do better when trading as a community than if trading in an isolated fashion. That the membership of the site has continued to grow steadily is testament to the success of this principle.
Traders have issued alerts to trade currencies as binary options, with a short term expiration of 5 minutes. As such, alerts obtained from this service make it easy to trade these forex binary options using the trading platforms of brokers that offer the 5-minute short term expiration.
How Does the NightOwls Signals Service Work?
The trading room is open during the Asian and the US session. No trading is conducted during the London trading session. This distinctly divides the service into two: the Morning Owls service and the Night Owls. Trading for the Night Owls starts at 8.30pm and runs to 10.00 pm EST, Monday to Thursday. No trading is done on Friday night as a result of the market close by 4 pm EST.
After signing up and paying the subscription fee, traders are given access to the trading room via a Members Only login area. Once inside the trading room, the trader gets to see the screens of currency price movements from where trade analysis is conducted alerts are issued out vocally. This way, traders actually get to know all about what they are trading, and there is opportunity to ask questions along the way. This service is best used with headphones so that the audio coming from the trading room can be heard clearly without external interruption.
Traders can also gain access to the trading room via their smartphones and tablet devices. To this end, a smartphone app which connects to the service has been created and is downloadable from the respective stores.
Every trading session, traders can be sure of getting two to five trade calls, depending on how opportunities come up in the market. All trades are of the Up/Down variety only. The basis of the trade is usually explained to traders while the trades are being executed. Traders can implement the signals on any broker platforms of their choice.
How Much Does the Service Cost?
The Night Owl Signals service costs $87 for two weeks worth of signals, which comes to about $10 per session. Traders do not get a free trial and payments are billed automatically unless the trader cancels prior to the next billing cycle.
There are no specific claims on how profitable the signals delivered on Night Owl Signals are, but many online forums with traders who are active subscribers on this site have testified to the efficacy of the signals delivered here. Perhaps this can be counted as a huge plus to the service, as returns in the market are highly dynamic and cannot be quantified with a single figure all the time.
One thing that the Night Owl Signals service has going for it is the participation of subscribers in the entire process. A look at the interface will show traders commenting as the session progresses.
Pros and Cons
Traders work together as part of a community. This promotes group learning and eventually enables traders to be able to trade forex binary options a lot better than when they first joined the room. Think of this as a form of mentorship. This is a major advantage that this service has over the automated signals services.
The trade service is highly focused, which allows maximum concentration and energy to be directed at a few selected assets.
Due to its non-affiliation with brokers, the operators of the Night Own Signals trading room have no conflicts of interest.
The signals are very easy to follow and can be traded on a PC or a hand-held device such as tablet or smartphone.
Finally, payments are made with ClickBank which ensures that there is a 60-day money-back guarantee in place so that unsatisfied users can get a refund.
Traders are required to be online during the active trade periods. Anytime the trader is not logged on is lost and cannot be recovered.
Some traders may consider the 5-minute forex binary options as being too restrictive. This in itself is not a major disadvantage; however, there are some traders who prefer to have greater flexibility with trade types and expiry times.
Some have also considered the $87 fortnightly price tag as being too steep in an era where free automated binary options robots are gradually dominating the binary options signals market.
Finally, the lack of a trial period for the service means that traders do not get a chance to evaluate the service before buying. However, this can be mitigated by testing the service on demo and if not satisfactory, the 60-day money-back guarantee clause can be activated.
According to the moderators in the Night Owls Signals trading room, the aim of the entire service is to create a team of “old traders” and not “bold traders”. This underscores the emphasis of the NightOwls Signals services, which is to use less risky methods of trading that will keep subscribers in the market for a long time and to avoid risky strategies which ultimately lead to blown accounts. So the NightOwls Signals team say: be old in the market and not bold.