Before trading with your real money, it is often a good idea to familiarize yourself with the features and functions of an auto trader. This is very important as it gives you a clue on what to expect when you will be doing it with your real hard earned money. Some sites have demo versions whose features are identical to the ones on the actual version. The only difference is that real money is required to trade in the real version while the demo uses virtual money, often provided by the site. AutomatedBinary.com have a demo version available to everyone who visits their site. The only condition is that you have to open an account as you would when using the real version. Also, the brokers are virtual and opening broker account is not necessary. Basically, you get $50, 000 in virtual money when you open the demo version. You are supposed to use this money with as much care and frugality as you would your real money. This is pretty easy since the software will place all the trades for you. It is worth noting that you won’t be able to access the demo version once your account balance gets to zero. Nonetheless, we learnt long ago not to trust demo versions as far as trading systems go as they don’t give a clear picture of how these systems work and in most cases, players end up disappointed and broke when they realize that the software isn’t half as good as shown on the demo version. The best way to get to know your way around an auto trader is actually trying it out. You can do this by setting the lowest investment amount for each trade and keeping the number of trades to a minimum. Or better yet, ask about it from people who have been there, done that. In that case, we are always here for you.
How accurate is Automated Binary?
This is a question we get asked a lot, more so than about any other feature. And we perfectly understand it – knowing how efficient an auto trader is helps you align your financial goals properly. Automated Binary is 85% accurate in normal circumstances, which is perfectly within the acceptable accuracy range and way above what you will find in most auto traders. Granted, it is not the very best in the market but very close to it. Nonetheless, considering that the average broker payouts range between 70%-89%, the software will certainly earn you enough to make up for the losses. Of course, the accuracy will decrease or increase depending on events on the market calendar and/or unprecedented occurrences such as terrorist attacks or amalgamation of several powerful companies.
So, how does Automated Binary achieve a level of accuracy that most auto traders don’t? Well, it all boils down to the signal production methods as explained below.
Automated Binary is able to generate its signals from combining up to 6 technical indicators, in addition to the usual technical charts and graphs. These indicators are also used in other types of financial trading, in particular stock trading. As with any other function, traders get to choose what type of indicators to use. They also have the option of choosing which combination of indicators they would want the system to get signals from. Basically, the minimum number of indicators that can be selected is 1 while the maximum is at most 6. This choice mostly depends on the type of asset you’re trading in and the expiry periods involved. The following are the technical indicators used:
- Relative Strength Index (RSI)
- Williams Percentage Range Indicator
- Commodity Channel Index (CCI)
- Stochastic Oscillator
- MACD (Moving Average Convergence Divergence)
- Trend Indicator
Note that each indicator works in its own way and has its pros and cons, like everything else in the world. For instance, Williams Percentage Range and Stochastic Oscillator help determine overbought and oversold conditions; the Relative Strength Index measures the speed and momentum of an asset relative to its price movements. For best quality signals, combine several indicators or even better, choose all the 6. That way, the shortcomings of one of one will be compensated by the strength of another. Also, according to AutomatedBinary.com, no signal is sent until all the selected indicators show the same direction. For a CALL option to be bought, all the indicators have to produce CALL signals. Now you know where the 85% accuracy comes from.
Money Management methods
We mentioned earlier that Automated Binary gives you a chance to choose the trading method you want the software to follow when placing trades for you. These are also known as money market methods and are three in total as discussed below:
Developed by mathematician Leonardo Fibonacci centuries ago, Fibonacci is regarded as the most accurate money management method. Basically, the method uses a numerically sequence from which a ratio, known as Golden Ratio is derived. It is widely believed that some numbers, such as those in the Fibonacci sequence, repeat themselves after a certain period. Thus, if the correct figures are used, this method can be used to predict price reversals. As a matter of fact, stock and forex traders have been using Fibonacci for decades to impressive results. However, despite being hugely accurate, Fibonacci method carries a higher degree of risk compared to the Classic system and is unsuitable for newbie traders with limited experience.
This is the usual system of trading where the same amount is invested in every trade, no matter the outcome. There are no particular benefits of trading on the Classic system except the lower risk level. The returns are much lower than in all the other trading methods and so are the potential losses. As it is, you won’t get rich using the Classic as the returns are minimal. On the other hand, you won’t get broke either so it’s a win-win. This method is recommended for beginners and basically every trader who prefers slow but sure type of trading.
Also known as the Compound System, Martingale is hands down the riskiest (and most rewarding) money management system. Gamblers have been using it for decades. Wall Street too liked it. Basically, this system works on the concept that doubling your investment after every loss will make up for the loss(es) when you finally get a win. The compound system follows no mathematical formula and is all about playing around with luck. This is for the traders who like some adrenaline-fueled trading laced with the sweet possibility of getting some huge payouts that could move them to a higher social status. While trading on Martingale, large deposits are required as investments per trade keep doubling (while others get lost) frequently. Newbies are advised to avoid this system unless of course they have used it before or have some extra cash that you wouldn’t mind losing.
Unfortunately, Automated Binary doesn’t have a diverse asset index which limits the trading possibilities. As it is, the software only places trades on select currency pairs. This consists of the most widely used currencies in the world such as the USD and GBP. The following are the currency pairs that the software will help you trade:
The above currency pairs are the most powerful currencies in the world and their values often rise or fall when major events happen.
Different assets require different expiry times, which is often dependent on their volatility. Currency pairs are best traded on short expiries due to their high volatility. As such, all the expiries available are short term in nature. Basically, there are 30 seconds, 60 seconds, 90 seconds, 2 minutes and 5 minutes expiry times available at this time. As it stands, the software cannot place trades unless your browser is turned on, supposedly for security reasons. Hence the short expiries will not inconvenience you in any way as even before you reply to a Facebook message, a trade has already been placed, matured and closed.
From our experience with Automated Binary and what we know about scams, we can authoritatively say that the software is not even close to being a scam. Everything from the website to the social media pages is professionally done, a clear indication that the owners are serious about what they are doing. We also liked the calibre of brokers given as options – we confirmed that all of them have CySEC licenses and very positive reputations. Most of all, we didn’t see any negative comments about the software anywhere on the Internet. Well, there are a few here and there, but the general consensus across the board is that Automated Binary actually works. Is it an auto trader we would recommend? Hell yes.
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