Using Binary Option Trading Signals For An Unfair Advantage
A binary options signal is an electronic message that provides a trader with a trade recommendation based on proprietary, market-analyzing software. A number of options signal providers offer this service as a paid subscription service, while in some cases, it is offered as a free service.
Signals Services Deals Combined With Sign-Up
Many binary options signal providers offer a free trial membership, with the trader being required only to register with a broker. New traders who have not yet selected a broker are therefore in a good position to combine their broker selection with a free trial of a binary signals provider service.
New traders should carefully research signal providers to determine their success rate and their acceptance by more experienced traders. To entice new traders to utilize these services, signals providers may offer limited guarantees, subscription payment through Paypal, customer support, and other convenient and advantageous features designed to attract doubtful consumers.
Different Signals For Different Assets
Different binary options signals providers will often focus on different asset classes, and may provide a different number of signals per day. They also vary in the expiry time periods in which they specialize.
Ultimately, the success rate of a signal provider’s software will determine its popularity among traders. These success rates are published, and traders are therefore able to compare this information, along with subscription costs and other relevant factors. This “paper trail” of signal success will be invaluable to new traders as they make the decision of whether to use a binary options signal service, and in separately deciding on which service they prefer if they wish to use one.
Communication Is Key
Quick communication is critical for those who wish to utilize a signals service. The signals are sent promptly whenever the parameters followed by the proprietary software for each service line up just right, and the trade must be made promptly upon receipt of the signal.
As a result, users of these services will in some cases need to confirm their ability to receive “SMS” communications via email. Not all cell phone carriers provide an email “gateway” for SMS, and without one, traders will only be able to execute a trade based on a binary options signal if they are sitting at their computer at the time the signal is sent. Obviously, this raises a real obstacle to the use of these signals services.
Auto Traders Also Available
If you cannot overcome this limitation by switching your cell phone carrier, another method that will permit your use of a signals service involves securing the services of an auto trader. Just as it sounds, this is a trading service that is automated. Traders use auto traders in conjunction with their trading accounts to enable trades signaled by the binary options signal provider to be executed automatically.
You should be aware that when using an auto trader, you will not be able to tailor the amount of your investment for any particular trade. On the other hand, auto traders are practically a necessity for sixty-second trades, given how quickly after receiving the signal they must be executed.
Binary options signals are yet one more fascinating feature of the binary options world. A significant segment of the trader population utilizes them regularly, and newer traders may wish to investigate them as they prepare to initiate their binary options trading career.