We’ve been asked to look at Profit in 60 Seconds, which is a signal service/Software that is supposed to give you signals to enter trades when alerted. if you’ve been around Binaryoptiontrading.com long enough, you know how we feel about 60 second binary trades. No matter which market you are in, predicting market conditions in that short period of time is one of the most difficult things to do. Sure, there are tons of gimmicks out there that will allow you to find good trades on a daily basis, but when it comes to a short term expiry, it’s best to really know what you’re doing before trading. We’ll go over what we think about this product and how it may help or not help you as a trader. The topics below cover most of the areas that need to be talked about before you purchase this signaling service.
What are Sixty Second Binary Options?
You first need to understand what 60 second binary options are. Most traders come into binary options thinking they can make a quick buck. However, it’s quite the opposite when you first get going. Although trading binaries is quite easy to do, you really need to be on top your toes when it comes to trading. A lot of people think they can just hit the go button and make $1000 off of a $200 account. The truth is, trading is quite difficult and very risky. It’s up to you and your emotional levels to become a good trader. If you can’t handle the risk or can’t afford to lose money then please hit the back button and exit this website immediately. We are not here to force you to do anything. We hope you only trade with money that won’t hurt you in the long run in the case of drastic losses.
Sixty Second binary options get you in a trade and out of a trade in exactly one minute. Traderush was the original founder of this particular type of trading. Although it is one of the coolest things on the platform, it’s also one of the most dangerous. You need to decide whether the asset will go up or down from the moment you hit TRADE. Without a true system, it’s nearly impossible to predict if the price will budge up or down. However, there are ways to watch the market and predict areas of support and resistance. Using profit in 60 seconds will help you dictate whether the price will go up or down. The question is, will you be ready to act quickly enough to enter a trade.
Profit in 60 seconds is the newest signal software available on the market. The marketing for this product is excellent and the website is very clean. This makes you believe that a lot of money has been put into it. A pretty significant bonus about their product is their month long trial. We will go over in more detail below, but you can see it here if you want to skip ahead. The software downloads to your desktop computer and provide signals on multiple assets throughout the day. Once the signal is provided, it’s up to you to enter the trade at your broker. The question is, are you quick enough to enter the trade as soon as the signal is given. They say you have about 1 min. to take the entry after the signal is produced. They also rate each signal to allow you to enter with a smaller risk amount or a higher risk amount depending on the probability. This will all be discretionary considering most Sixty second binary brokers offer five dollar minimums and $100 maximums.
How Many Trades on Average?
It’s been observed that the signaling software has given out over 50 signals in a day, but more commonly you will see around 20-30. With so many signals available each day it’s best to pick one or two assets to follow. This will allow you to stay focused and try to take the best signals possible. There’s no sense in wasting trades where you can’t get in on them.
What Assets Do They Trade?
Currently the product watches 22 currency pairs. Obviously here at binaryoptiontrading.com we like the EURUSD the best. When it comes down to signals however, having more is better. Remember to watch pairs that you’ve followed in the past. You do not want to be left in the dark watching pairs that you don’t know anything about. If you are questioning any particular signal on a particular currency pair it’s probably best not to take the trade.
What do you have to do to get a Trial?
A nice feature that they offer is a free 30 day trial. They mention the word FREE because you don’t have to pay for the software. However, there is a caveat. You will need to open a new broker account at either Traderush or Redwood Options to get the free trial software. Not only will this new account need to be created, you also have to make a deposit of $200. If you don’t make the deposit you will not have access to the software. You could purchase the product for $997. With the numbers they are talking about it in their performance reports, this is not that much. We currently have accounts at Redwood options and Traderush. We’ve requested a free demo account of their software to test it live. Once we have that information we will provide it for you both on video and on this website.
Something to consider when looking at a product is the performance reports. Over the past few weeks we’ve noticed some really good results. This is where you need to think about whether this is true or not. When they are taking 30 trades and having 26 winners, three losers and one tie, you need to think about whether they are true or not. How did they come up with these numbers?
If a signal service/software is something you are looking for than this may be the best on the market. Profit in 60 seconds provides a lot of things that most traders want. You need to be ready to take trades and willing to take risks. 60 Second binary options trading is probably the hardest type of trading out there. You can learn more about this on our website. If you have any questions you can always use our contact form.