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AutoTrading the Markets

Autotrading is a service that allows anyone to trade binary options without the need to complete any analysis or remain in front of their computer for hours on end. Once an automated system is set up and certain selections have been made, the only thing left to do is to monitor the progress and outcome of the trades which are executed, collecting any profits have been earned. The words, “collecting any profits” are key in that sentence, as not all systems produce the same results.

There exists more than one type of auto-trader. Even so, most perform the same base function of entering into trade contracts on behalf of the trader. The decisions of which trade to select, as well as the specific parameters selected, are made by the system itself. Any decisions related to investment amounts are made by the trader. Additional selections may also be made by the trader, depending on the setup of the system. This provides some means of control over the overall level of risk.
Trading on Auto Pilot
These types of automated systems are very similar in nature to binary options signals, and are often provided by a signal service. It is to be expected that computer software of some type will be used to not only formulate the trades, but to execute them as well. Having said that, some type of human involvement should be included to ensure that market sentiment is taken into account prior to a trade being taken. Market sentiment is something that computers cannot process correctly, relying instead on the data of price movements.

Every autotrader is going to come at a price, and the prices can vary greatly among providers. The goal will be to have the profits generated exceed the cost of the service. There is no reason to pay for signals or automated trading systems if they cannot generate earnings that exceed their cost. Although most service providers will offer information about past results, it would be wise to ask for a free trial in order to see the service and actual results in action. Even a short trial period should tell you all that you need to know about how well a system actually performs.

Information to look for when selecting an auto-trader includes the overall win rate for all trades taken, the total monthly cost, whether the system is web-based or must be downloaded, and whether a specific broker must be chosen. It is not uncommon for a specific broker to need to be used along with these systems, but the better option would be to have the ability to select any broker you wish. Brokers are in business to earn money, so it stands to reason that they would not be willing to partner with a company that is going to decrease their earnings.

Should traders use these systems? When they deliver the results promised, they can certainly provide some nice profits. The key is to locate a service provider that does allow you to use your preferred broker, offers reasonable pricing, and provides accurate information about past results. Scams are not out of the question, so be sure to do your homework before selecting and paying for a binary options autotrading service.

Risk Disclaimer