Automated Binary Trading Software
Automated Binary Trading
There are a lot of people that truly believe that automated binary trading is the best thing to happen since time began. There are also trading professionals that are convinced automated binary trading is a scam and will bring you nothing but a loss of money and disappointment.
I do see where automated binary trading techniques has some pitfalls, but I also believe that when you choose the right option robot to use in your trading efforts you will increase the number of lucrative trades you make, and you will be happier.
Automated Binary Trading Win Rates
In an attempt to establish if the items are the worst thing to happen or the best thing to happen, or something in-between those two, you have to look at what they can do, and what they claim to do, and make a decision based on your own preferences, and opinions.
I know that this sounds like I am saying that your guess is as good as mine , and that I am not providing an answer to the question of whether the action of automated binary trading is a the right way to make trades. A portion of what causes people to feel one way or the other about these trading robots is the personal opinion of what is a successful win rate.
If you look at the advertisements for these trading robots, you will see that the majority of them claim that the trades they suggest have a ninety five percent correct analysis of the indicators. The truth of the matter is the majority of these robots have an actual win rate of between sixty and eighty three percent. You might find that there are programs having a consistent win rate of seventy five percent or better.
I base my judgments on the consistent win rate ratio. A software trading system that was right ninety five percent of the time for a period of two or three months is not what most traders are after. I prefer a system that is on target at least seventy five percent of the trades.
You have to rely on the trading software and your own gut instincts and knowledge to determine what trades are without a doubt the best ones. The computerized analysis makes errors of judgment that are fueled by emotions less likely to occur.
Making Money with Automated Binary Trading Software
If you think that you can buy any of the automated software and immediately start to make money on trades you are likely to be very disappointed in your choice. Nothing replaces education, evaluation, and proper analysis of the available data. You can use the trading software to increase the number of good choices you make, but you cannot rely exclusively on the automated systems to make all of your decisions for you.
You need to watch what signals your software is providing, and what indicators the software is basing the recommendation on. It is highly recommended that you invest in software that allows you to try it on before you commit to it. You also want a robot that you can customize to watch the indicators that you feel are the most relevant to your trading needs.
The software will indicate the percentage of expectancy it has for any currency pair trade to be lucrative. If the expectancy of the robot is sixty percent or less for any currency pair, then you may break even on the trade if you are lucky. If the software you choose is accurate seventy five percent of the time and it says a pair has an eighty percent expectancy, then you need to be aware that the win rate will be around fifty six percent.
Broker Developed Automated Binary Trading Robots
You should be leery of the trading robots that were designed and are used by one particular broker. This type of software is destined to make money for the broker and not always do trades that are in the best interest of the trader.
I suggest software that is designed and developed by traders based on their experience. Then I further suggest that you use trading software that gives you several brokers to choose from and does not lock you into a trading agreement with just one broker. You will make more money and can be assured that the suggested currency pairs are more likely to be winners if you have more brokers to choose from.
Some of the software systems are automated and after you establish the perimeters for them to follow they can actually make the trade just like you would if you were at the computer. Some of the software systems are simply signal providers that analyze data and suggest trades for you.
The automated binary trading robots are the newest tools available to help traders determine which trades are best for them. I suggest that you research your options before you lock into a purchase of one of these software programs. I prefer programs that let you try the system before you buy the system.