The robot trading software is something that you download to your computer or another device once registered with a broker. A download is not always required; sometimes you can start using them online via a website. Investment using this method is known as automated or auto trading and is used by “auto traders” that want to free up their time and increase their success rate. Most popular automated signal trading app is Binary Options Robot.
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Like any computer, the capacity to research, consume and analyse data is much higher than the human mind so the machine can process all the data much quicker than any human being without emotion or instinct. By using this process, more information is gathered at a much quicker pace allowing for more effective, profitable trades using an array of automated trading systems. The capacity to trade becomes much more and the number of successful trades increases.
After the signal is generated, the binary robot is using a special program that places the trade according to settings provided by the user. Trader than only has to wait for the result. There are robots who place trades even when the trader is offline, but we recommend using only software that requires users to be online, as such approach promises better money management, and helps avoid unexpected losses.
Some traders, however, prefer to keep control over their trades rather than giving everything over to the robot, and this is where trading signals can be a viable alternative. Trading signals are services that provide advice and information on which trades to make. You still need to make the trades yourself, so you remain in control but the advice on what trades to place is given to you. It’s great for people who might not be good at reading the markets, depending on if the service you use is good, of course.
There are some “scam robots” where the purpose is to con the investor out of their money, and they don’t work. There are tell-tale signs that you should watch out for as to whether a service is legit or not. These include no contact details for customer support, consistently bad reviews, a short operating time and only a few assets available.
Some unfortunate investors aren’t always able to spot online scams and can lose a lot of money when they should have been making it. Before they notice there is anything wrong they could already have made many trades. There are things to look out for to try and prevent this from happening, but we highly recommend using our advice and recommendations to ensure that you register with a trusted and reputable binary robot software service.
In the past, to make trades in any market, you have to carefully conduct some thorough analysis. This analysis should include fundamental analysis – which involves checking market news and events around the world, to see how they will affect the prices of financial assets.
Beyond that, you have to look at a set of charts, indicators and oscillators, searching for price patterns that may suggest the future directions of prices of market instruments. This is known as technical analysis. After then, you can now make your trades.
However, things are not always as easy as they sound. Before you can be equipped enough to conduct the above analysis, you must have undergone a considerably thorough learning process. This will require you committing some length of time to work. That was in the past. Today, with automated trading software you can sit back and watch algorithms do the job for you.
Automated software come in different names – Bots, Trading robots, Trading EA, Algorithmic trading, amongst others.
There are many – in fact, undiscovered, benefits of trading binary options Nigeria with auto-traders.
While real binary trading Nigeria requires many years of experience and good control over your strategy, auto trading lets you avoid those rules and let robots trade for you. That doesn’t mean you don’t need to educate yourself about strategies, technical or fundamental analysis, because once you will be ready to continue trading without the need of a trading robot.
When you trade manually, usually you have to focus on one certain asset and track its portfolio in order to successfully predict its trend. But, when you are trading with Binary Options Robot, you can leave this analysis to your trading strategies that are doing this job for you. Trading strategies are based on computer algorithms that generate trading binary signals. While some traders trade only with few assets because they are certain they are most balanced, Binary Options Robot manages to trade with more than 50 different assets. Traders can decide if they want to trade with all or just certain assets from the list.
Trading is a psychological game – and the state of your psychology can make or mar your trading.
Since you are trading with the Robot, your rationality or emotional state is not so important. We all know that humans are all but rational, especially when it comes to decisions that are connected with your emotions. Automated trading lets you feel free and fearless because your automated robot will trade strictly by following strategies and it will not be accommodated by feelings because it has no feelings.
Automated trading removes a lot of stressful moments that are integrated into a manual trading process. While manual trading involves riding through trends that are in the fields of the volatile environment, automated trading has a totally different approach where traders are segregated from such trends. Traders that use binary robots just need to make a decision which broker they are going to trade and make first deposit investment. Automated robots have successful risk management and they follow patience as this brings most of the wins.
Save valuable time. Binary trading robots have a far higher capacity for information than the human brain. Execute more successful trades. Using the trading system to gather much more data makes the trade more reliable.
Binary option auto trading is a special type of trading that recently became extremely popular among people interested in financial trading. Auto trading is providing an experience different than any other form of financial trading. Thanks to binary robots, traders can start placing their trades almost immediately after they finish the registration process.
Robot software and auto trading algorithms combine a signal service with automated trading. So the software will attempt to identify profitable trades, and will then place the trades automatically. This automated element takes signal services a step forward, and actually place the trades as well – rather than leaving that to the trader. These systems will have differing levels of risk management – from stop losses, to daily fixed spend limits. The automated element however, does increase the financial risk for traders overall.
There is also a growing trend for brokers to provide their traders with the ability to configure their own ‘bots’ or automated trading systems. These tend to simplify the process, letting traders “drag and drop” technical indicators into their system. The best bespoke robot features also allow traders to run their robot in a demo account, in order to trial it risk-free.
Brokers are keen to promote robots, because they create higher trade volume, and therefore reduce risk for the broker. They can be a great tool for traders too – but as ever in binary options – any promises of profits are an immediate ‘red flag’. Robots, like binary options trading Nigeria themselves, need to be fully understood before use, and they are not a route to guaranteed profits.
Some notable binary trading brokers that accept Nigerians include IQ Option Nigeria, Olymp Trade Nigeria, Deriv.com Nigeria, Binary.com Nigeria, amongst others.
Sometimes, trading robots will have swings, just like any other trading method. Likewise, the settings by which the robot is operated, might become less (or more) effective over time. So they will need to be constantly monitored for performance.
Automated trading, without doubt, increases risk – and binary options are already a high-risk investment vehicle. But an automated bot running unchecked could rattle through a large number of losing trades, particularly where a news event impacts the market. An event that might make a human trader step back from the markets, is not going to stop an automated robot.
This extra risk can be managed to some extent. Many robots will have daily loss limits, and overall limits. They can also be set to stop if a certain level of profit is reached. Traders need to be aware of all the pitfalls however and treat bots with all the care they deserve.