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Binary Options Robots and AutoTraders – The Best, Plain Scam or Just Sucks?
Binary Options Robots – A Rose By A Different Name, I Say Tomato You Say Ketchup
What are Binary Options robots and how do you use them? Are Binary Options robots something you should be using? Robots are another growing trend in the Binary Options community, find out what they are and what we think about them.
I had never heard the term until only a few days ago. I was intrigued. Aside from my first humorous visions of actual robots trading Binary Options I was not that surprised by what I found. Robots are nothing more than signal providers and auto-traders. A rose by a different name, almost. Robots are a little more advanced than a simple signal service and are a very unique form of trading. These newly evolving services combine a signal with an auto-traders. Automatic trading is nothing new to the investment world, just something new to Binary Options.
How these Robots and AutoTraders Work
In order to fully explore how robot trading works I started with a simple Google search for binary options robots. I chose the best looking result from the SERP and this is what I found. BinaryAutoTrader.com is an automated signal service provider and binary options robot. This website is a service for binary traders that places trades automatically into their accounts. It is not the same as copy trading. With copy trading trades execute into your account through a link. Any accounts linked to a copy trade account execute all the trades of the master account. A binary options robot is a program that literally takes over your computer, can you believe that!
It may sound crazy, but it’s true. A robot is a third party program that you download onto your computer. In order for it work you must log into the robot AND have your Binary Options account open as well. The robot program detects compatible trading platforms and takes control. Any signals generated by the service are picked up by your robot. The robot then enters trade information like asset, amount, direction and expiration. It then clicks the enter button and your trade is set.
I was concerned at first that my computer might be unusable all day if I were to use the robot but that is not the case. The robot runs quietly in the background, letting you use your machine as needed. Another bonus of a robot over a copy trader or other SSP is account compatibility. Most robots can be used with a variety of different platforms. Most Binary Auto Traders can be used with platforms like TF Tech Financials (24Option) and SpotOption.
Why Robots Might Not Suck
Robots don’t suck because they can take the hassle out of trading. The robots are a signal service at heart so if you choose a really good one it stands to reason that profits will soon follow. Anything that can legitimately enhance my trading and provide sustainable profits doesn’t suck in my opinion. The caveat here is that robot providers as a group are just as likely to have a losing streak as anyone else. Not to mention the chances of being scammed. If you do choose to use a robot be sure to do the proper research and find out which one is right for you.
Why Robots Suck
Robots definitely suck no matter why they might not suck. Are you kidding me? First, you have to know my opinion, and the general opinion of BinaryOptionsthatSuck.com, about signal service providers; we don’t like them, unless they finally prove different. I don’t want to be too harsh against the businesses and people involved, especially those who are really trying to do a good job but come on people, learn to trade for yourself. If you are using Binary Options you really need to do it yourself, they are not an investment. If you want someone to take your money and lead you to profits, invest in a real retirement plan.
Another reason trading Robots doubly suck because they take over your computer. It’s like downloading a virus on purpose! Why would you want to do that? Even though you can still use your computer while the robot is working you never know what kind of hokey pokey nonsense is going on.
One more thing. Binary Options auto trading robots cost money. You have to subscribe to the service and pay a fee. There are too many free sources of tips, strategies and signals not to mention social trading platforms like Communitraders to waste any money paying someone for it. Check out this “famous” AutoTrader for Binary Options review (link above) and see for yourself.
My Last Words On Binary Options Robots
To the creators and operators of robots my hat is off to you. You have created a really remarkable and amazing way to trade the binary options markets. To the potential users of a robot, don’t trust them too closely. They are nothing more than the same old thing with a new twist. You should never let someone trade for you like that. Do the work, put in the time and the rewards will follow. Seeking the easy path often leads to failure. If you need help with something visit the forums at BinaryOptionsThatSuck.com and Communitraders. You will find all the help you need from our team of professionals and the hundreds of other binary traders you will find there.
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Searching for Forex Binary Options? You Do It All Wrong.By Michael Hodges - Apr 01, 2014