Binary signals are pieces of expert trading advice that help thousands of binary traders achieve their goals every day. They are generated by specialized software packages that have been designed with this specific purpose in mind.
Binary options signals software relies on certain algorithms in order to seek out patterns in the movements of financial markets. This enables the program to make extremely good predictions regarding the future price fluctuations of specific assets. This is exactly what you as a binary trader need in order to inform your decision making.
Many different forms of signals software exist. A lot of different providers have developed packages that aim to deliver the very best, most reliable signals. These companies now compete to provide you with expert help in the shape of signals. This competition means that the products keep getting better and the prices lower.
If you would like to know more about binary options signals software, you can read the rest of this article.
What is Binary Options signals software?
First of all, what is a binary signal? A binary signal is a recommended binary trade that has been generated by a software solution that scans the financial markets looking for trading opportunities. The signal consists of all the information you require in order to complete the trade.
So, how can a software solution find promising opportunities for making a winning binary options trade? Without going into a lot of technical details, we can simply state that computer systems are superior to human traders for a lot of reasons, among them the following:
- Superior processing power – reading the market is about number crunching. Clearly something a software package can do better than a human brain.
- Data retention – can you remember all the prices of all the assets on the New York stock exchange from one hour ago, one minute ago, ten seconds ago? Of course not, that’s impossible for a human being to do. Not so for a computer program.
- No bias – do you like Google? Do you think gold is a good investment? Unfortunately, preconceptions such as these can influence your ability to coldly and rationally make good calls in the market. Trading software has no feelings, and will not be swayed by bias – only the numbers that matter.
Clearly, then, binary options software offers a lot of important benefits. It is no exaggeration to say that nobody can expect to outperform a computer when it comes to binary trading. Even the very most successful, professional traders rely on software to analyse the markets. The only question is which signal providers has the best signal software.
How can I take advantage of Binary Options signals software?
If you decide to use signals to inform your trading, you basically have two options:
- Subscribe to a binary options signals provider
- Use a binary options robot
Both have their pros and cons, and what you prefer is really up to you as a trader. If you decide to go for option number 1, and sign up with a signals provider, the provider will send you several signals per trading day. It is then up to you to complete the recommended trades with your binary broker. Most signal providers charge a monthly fee for their services.
Here are some helpful pointers about how to choose a signal provider:
- Make sure you find a provider that has a proven track-record. Trustworthy companies within this market sector always publish a verifiable strike rate on their website. A good average win frequency is anything above 70 %. Avoid any company that boasts win percentages of 90 % or more – they are likely to be overselling their product.
- Look for free trials or money back guarantees. This is your chance to try out a signal provider’s service free of charge.
- Get a good deal. Some signal providers charge a lot more than others. The average monthly subscription fee is usually in the region of $97.
If you go with option number 2, and sign up with a robot, the robot will quite simply execute trades based on the signals its trading software generates. This means everything, the entire trading process, is left in the hands of the machines.
In today’s market there really is only one robot worth considering and that is BinaryOptionRobot. This robot offers a winning rate of 72 %, and has quickly become the dominant player within its market sector..