Robots for binary options: pros and cons
In issues of our magazine, we are constantly discussing, creating and exploring different trading robots for the market . Currency traders have already gotten used to the fact that trading independently with a honed and structured trading strategy makes no sense, and sometimes even prevents good performance. That is why skillful programmers trying the binary options market, apply the gained experience of automatic trading, and, judging by the results of the our contestsare doing it very successfully. However, binary options robots - is by no means the Grail, and their use has its own peculiarities.
Robots for binary options - program assistant in trading
So, if we're being read by market traders who don't know much about trading robots. binary optionsLet us explain in a few words what it is. In fact, Expert Advisors are a software application that completely replaces the trader in the trading process due to the algorithm of opening, maintenance and closing of transactions embedded in it. The use of robots in trading is very convenient in all respects: they save time while waiting for a long-term deal, the trader can freely go away without worrying that he will miss a successful market entry; they save the trader's nerves and get rid of the human factor in trading; in some cases, if the terminal allows, the strategy programmed in the EA can be easily tested on the history and refined, based on the conditions, etc.
There is also a variant of software assistants in binary options trading. They do not completely replace the trader's work from start to finish, but only help him to open a deal in time, analyzing the readings of the indicators embedded in the strategy, or vice versa, help to close in advance, if the type of binary option allows and the indicators of the strategy showed a reverse signal. One way or another, such semi-robots work as an attentive observer and suggest the best way to work out the signal, but do not make decisions for the player. This type of Expert Advisor is convenient when the strategy is not fully worked out or except for the technical analysis indicators uses fundamental factors. In this case, there is no way to do without the trader's participation, so fully automatic binary options robots he doesn't really need it.
Where to buy or download robot for binary options
How to try such an assistant in trading? The answer is obvious: either download it for free binary options robot on one of the specialized forums or in the community of traders, or purchase it on websites or in electronic stores.
ForTrader.org recommends that you start by finding and trying an Expert Advisor posted online for free. The fact is that the use of such software applications, one way or another, requires certain skills and knowledge, so it is better not to risk money to avoid buying a "cat in the bag".
The next tip, which you should pay attention to for all the same reasons: if you are not at all familiar with automated trading or have little experience with them yet, try it out on a demo account!
When buying binary options robotIn order to use myfxbook, you should pay attention to the trading statistics provided by the seller on the website or in the monitoring. How to use and properly read the monitoring on myfxbook is written in detail in one of the articles of this issue. Choose your future assistant wisely, evaluating not only its results, but also its trading style, possible trading opportunities, and the possibility of a new trading partner. drawdown and ease of use. Read reviews on the Internet in your future purchase, if possible, talk to someone who is already using this advisor. All this will give you confidence in future results and save you from unnecessary waste of time, nerves and money.
Minuses of trading robots for binary options
You can find quite a few articles on the internet about the downsides of trading binary options robots. Among them you can find the statement that a trader stops thinking and following the market, losing professional skills, and the idea of frequent losses of the robot in case of changes in the structure of market movements, and the deceptions that sometimes await the speculator when buying third-party authoring programs.
The experts of ForTrader.org magazine have been dealing and specializing in trading with Expert Advisors for so long that all these points seem even surprising to us. See for yourself. When trading even the most autonomous robot, the trader, whether he wants to or not, looks into the terminal 3-4 times a day at least, checking what is going on there. At the same time, he analyzes the trades opened by the Expert Advisor, especially if they give a negative result. Why? Because you always want to refine something, to improve the profit. Is it possible to lose a trading skill in such a situation? Hardly! Of course, an important condition for trading with a robot is a complete understanding of why and at what moment your assistant opens a deal, otherwise we do not recommend to put such an advisor on real money. A "black box" is not our option. Next, let's talk about losses on changing market trends. It should be understood that the program is a set of conditions and actions that fully reflects the essence of your strategy. A robot does not add or remove anything, because it does not know how to do it. If you are a good trader and trade clearly according to the TS, you will start losing money in manual trading. Yes, perhaps you will notice the failure faster if you buy binary options yourself, but this disadvantage is more than compensated by the pluses that the robot got in those moments when you, for example, slept, or were on vacation. And deception... If you clearly understand what you are doing, it will not be easy to deceive you. That's why we advise you to understand free Expert Advisors for BO, and then move on to commercial variants.
What's the bottom line? The bottom line is that we recommend that you use binary options robotsHaving gone through all the stages - from training to comprehensive testing or even programmer. Those authors who have little experience with Expert Advisors will find you a lot of excuses not to trade programs, because in the beginning it is really difficult. Try to overcome laziness, and your efforts will pay off a hundredfold.