Let me ask you a question –
Would you like to make more money trading binary options? Would you like to trade options without being strapped to your computer all day? I mean, wouldn’t it be cool if you could tell a program what trades to make …and …they do it…
…while you sleep!
Of course you do. But let me tell you something.
I’m kidding …sort of. You can actually achieve some of this if you use binary option robots. But before I tell you where to find them, let’s take a second to learn more about the what’s, how’s and why’s.
Let’s start with what is a binary option robot. What do they do?
The gist is this – you either download or access the robot from the web, and program it to make trades on your behalf.
That’s right – bots will trade on your behalf using different strategies and techniques without you having to monitor the markets all day.
Bots usually come in two forms – free and premium – with different perks in each package. I’ll get to that in just a second. First, let’s chat about why you might use a robot.
Why Use a Robot?
Where do I start? There are lots of reasons why you might decide to use a bot. Here are a few off the cuff:
- You can avoid minor, but costly mistakes like clicking the wrong buttons or tabs. The only mistakes your bot makes is the ones you program it to make.
- Emotion free trading. Your bot is going to trade what you tell it to, not what it wants based on what money you’ve made or lost.
- Having to be present to monitor markets and make trades is an opportunity cost. Chances are there’s something better – something more valuable – you can do with your time. Bots allow you to do that.
- You can trade on multiple platforms without doing more work.
- You can pay attention to – and ultimately trade – more assets than you could by yourself.
The bottom line: if you want to make more trades, pay attention to more markets, and make more money – if you want to scale your operation – then you might consider investing in a bot.
What Are Your Binary Robot Options?
So what programs are out there? What do you get with each one? How should you choose?
Slow down, grasshopper – all in good time.
The first thing to know is you’ll have two options – a free or premium version. You’re only going to get the basic perks with a free version – you’ll have to upgrade to get the nice stuff.
Perks vary from bot to bot. But here are some of the perks you can expect to find:
- View your trading history. This is a great thing to review on a daily, weekly or monthly basis so you can fine-tune your strategy …and …your bot.
- Choose your own risk level. Your bot will only make the trades you want – risky or safe, or somewhere in-between. Some companies will even micro-manage this for you.
- Choose how much you want to invest. Never spend more than you’re comfortable spending.
- Selectable trade amounts. This will be set amounts you want to invest per trade.
- Trade on multiple (broker) platforms.
- Trade in multiple currencies.
- Receive signals by email or directly to your phone.
- Choose from different expiry options.
- Choose how many trades you want the bot to make.
- Choose from different betting systems like the Martingale, Fibonacci or Classic.
- Free upgrades.
And a ton more.
Okay, three more points – rather, warnings – to make before showing you where to find your very own robot.
1) Beware the “proof” on the seller’s website. They will highlight the big trades their programs make, but keep in mind the robot is only as good as you program it to be.
2) Some programs will run on the cloud, but others will require you to get your own hosting server – likely a VPS. These cost $50-$100 per month, on average, and do require some technical know-how. If you lack the experience to set one up, you should expect to pay another $25 to $100 per hour for someone who can.
3) Not every broker is on a platform compatible with 3rd party signals and robots. This isn’t the broker’s fault as much as it is the platform. So, if you plan to use a robot the best thing you can do is read our reviews to see who is compatible with the bot you plan to use.
Alright, here are some programs you might want to check out. Each of these link to a review of ours so you can get the inside scoop beforehand.
- Binary Auto Trader
- Binary Option Robot
Oh, and before you read those reviews…
Are Binary Option Bots Right For You?
Bots are a great way to automate your trading and scale your operation without having to trust other humans with your accounts, let alone your money.
But a couple things to keep in mind –
Beginners shouldn’t use them. If you’ve never traded before it makes more sense to get hands on experience first. If you don’t know how to trade profitably, how can you expect to program a robot to do it for you?
Next, don’t expect to make millions of dollars with these programs. You can, but let’s be real here – these aren’t magic pills or mystical ATM machines that fill your bank account while you sleep.
If anything, you can lose money with these programs if you’re not careful. They’ll make trades on your behalf, but a simple misclick or enter the wrong setting, and before you know it – whoosh – that’s the sound of your money flying out of your account and into someone else’s.
So, here’s my suggestion –
You should only invest in a robot if you’re an intermediate or advanced trader who is in the money at least 55% of the time, and preferably closer to 65-70% of the time.
If that sounds like you, give them a go.