Binary option robots is a software that provides you automatic trades on your account, most of the robots allow you to control the risk you want to take, set your daily limit of trades and even choose the currencies you want to trade upon, if you just started to get to know with binary option this can be one of the great ways to earn from this enormous market
Basically, the robot is trading on your behalf, and it is 100% automatically, the only thing you need to set is to install the binary option robot on your computer and to connect it to your relevant broker, some of the brokers are offering an in-house robots which are already have all setting done while you install it.
List of verified robots
What to make sure before choosing a robot
Most of the binary option robots promise you with great success rates and enormous
amount of earning on top of your money account, that’s where you need to
be careful and to make sure to review robots’ performances, get into forums see some of the comments and ask questions,
There is no such thing as a perfect robot, if one of them had a success rate of 100% he could eventually swallow all the money in the world into your account J
The truth about binary option robots is that a only a few of them can bring you great profits, but, it depends on timing, robots also has periods when they actually lose money, it happenes also for the most profitable robots and it’s natural behavior, it needs to happen, the best way to use a robot is to use a small very small risk after you initiating the setup and then you should wait to see and experience a ‘bad’ period where the robot is losing money to your account, after a while, it will be perfect time to increase the risk because of the robot cycles, at any case, do not risk more than you can take and manage.
Most of traders will give up once they see some losing trades, but if the robot is reliable it should have also periods of gaining money from the market, this is why I call it semi automatically, you need to control the risk,
Robots are also good for traders who are already familiar with the binary option market, as an experience trader it will be easier for you to decide which robot is good for your account and risk.
The big advantage of binary option robots
The great advantage with auto trading is that the system is trading for you, with no limit of time and efforts, you don’t’ need to spend so much time to analyse the market and to wait for the right set-up, the auto trade software will do it for you and will take advantage of all triggers and market opportunities.
Auto trading software allows you to monitor it from anywhere that has an internet connection and to change your preferences accordingly.
How to choose the right robot
As mentioned, you should carefully choose the right robot, not all of them are profitable as they promised to be, a few of them are truly amazing with the performance they can bring the profits to your account.
So here are the step-by-step for how to choose the right auto trading software
- Reviews – each robot has a review, make sure the promised profits are not exaggerate
- Forums – read what other traders who already use the robot have to say
- Robot management – understand if you are able to adjust the risk and money management, also if you like to trade only a specific currency, make sure you are able to limit to your preferences.
- Demo- some of the robots allows you to use a demo account before using a real money, it also shows a proof for the robot reliability.
Keep in mind that due to the management abilities, the robot performance can diverse between traders who use them, the performances are also depend on timing, as an example let’s take one trader who join the robots after a sequential successfully trades, most likely to happen is that the statistic will aligned some non-profitable trades will occur, the experience of the trader will be bad and also his comments that might be follow via forums and other review sites, therefore, it is important that after you choose a robot or just want to test one, be patient to see a full cycle, which means you will have to reduce your risk into minimum possible before trusting the auto trading software
How much to invest as the initial deposit?
It’s true that with binary option robots there is no need to break your head about the next move of the market, the only effort you should take is to set the parameters you like and follow the auto trading software while it’s trade for you, despite that, you should treat any robot you decide to trade for you with enough suspicious until it will prove a positive and successful trading rates.
The best practice is to initiate with small deposit amount, taking the lower risk that you can, don’t worry about opportunities you might not leverage enough from the market, the market is always provides with great trading opportunities, follow the robots performances be ready also for losses and be patient to give the system enough time to prove a profitable portfolio.
In case you see good results from the robot, wait for a bad cycle and just then you may increase your deposit and risk
Have a successful trading day,