Binary Option Robots? A Review After Two Weeks

One of the hottest things that investors are looking at because of the high returns is the Binary Option Market. There are literally hundreds of these companies active today that allow the average person to trade in Binary Options. Binary options are trades made upon a single (hence binary) decision point – will the value of an asset increase or decrease over a defined time period. An individual chooses the asset, chooses the amount they would like to invest and then chooses the direction they feel the asset will move. Quite simple. However like any asset traded the more you know about fundamentals and events the better the opportunity to turn a profit.

This leads me to the discussion on auto trading systems. To be clear, I am not affiliated in any way with any of the systems reviewed.

Almost all of the systems make large claims about turning small accounts into hundreds of thousands of dollars – or millions as some claim – in a very short time frame. However, having tested several, not all are living up to their claims and in fact result in the erosion of your capital or do not work at all. All of the systems operate on the basis that they are ‘free’ but you need to sign up for a brokerage account through their system (in essence they are then being paid by the brokerage for a new account). It is important to note that the review and results are a reflection of my own experience.

I tested the following systems: 7 Day Millionaire; 70K Method; Christmas Profits; Kraken; and Binary Option Robot. In all cases I funded the accounts and followed the directions for auto trading. The Kraken, Christmas Profits, and 7 Day Millionaire are all based on the same platform. No matter what I did, or which browser I tested I could not get these three to make an automatic trade. I exchanged email with the support at the 7 Day Millionaire but was unsuccessful in making auto trades. Therefore these bots did not live up to the promise of auto trading.

All three of these web portals did offer signals. I decided to test the signals from the Kraken (on an Option.fm trading account) and made nineteen trades. Six of these trades resulted in wins (31.5%). Based on this result, I would not recommend using these bots for trading signals (we will cover trading signals in another article).

The 70K Method application (tied to a Mayfair account) did perform auto-trading functions. However the results were less than ideal. Eleven trades were placed over a two week period and there were ten lost trades and one win. This is far less than the 85-90% win ratio advertised in the marketing materials.

The Binary Option Robot is the most promising of the bots reviewed. It was set up with an account from No1Options. This software made forty four (44) trades over the period of the trial. Twenty one (21) of these trades were winners and one was a tie. It did make the trades by itself and appears to have logic around stop losses built into the software.

Therefore only the Binary Option Robot produced results – and those were less than what had been advertised. However I do like the stop-loss feature and this tool could be a good complement to an active trader and find some wins when you don’t have time to trade.

Stay tuned for the next article in this series as we explore trading signals software.

Understanding Binary Options Trading Signals

Binary options trading signals are indicators that are provided on the website of a binary options broker. The pointers are constructed by experts and professionals; however, in some cases they are generated by computer software.

Once the pointers have appeared on the broker’s website, they are sent to the traders as notifications. Here the traders are supposed to accept or reject them.

The signals are available in a number of assets such as currency pairs, stocks, indices, and commodities. As an investor you only need to identify the pointers that will be suitable for your trading style.

There are a number of benefits that come with the signals. One of the advantages is that the pointers offer an excellent solution if you want to diversify the scope of your trading.

In most cases, a lot of time and effort is required for you to be good at trading binaries; however, the binary options signals provide a shortcut to successful trading and as a result you easily master how to trade.

In addition to this, the signals help you to make fast decisions regarding your investment. To make your decision you only need to look at the trends of the investment and the experiences that you have with the value appreciation, and from this you will know whether you should continue trading or stop.

Trading is very volatile and has many risks; however, the trading signals aid in lowering the risks. The pointers do this by helping you to properly monitor the trade. By monitoring the trade you are able to tell the right time to trade thus you don’t invest blindly.

The trading signals also enable you to easily access reliable data related to the financial market. Access to the information allows you to easily understand how the market is working and as a result you lower your risks.

If you are new in trading, you need to familiarize yourself with the binary options signals and understand their different applications. The good side is that there are many resources that you can use to get all the information that you need. There are also many consultants that can help you understand better.

As an investor you need to understand that the quality of trading signals depends with the binary options broker; therefore, you need to do your research and identify the best broker who will give you high quality trading pointers.

Top 5 Trends and Technologies in Software Development

In this ever-changing world of software development it’s extremely important to keep up with current technologies, methodologies and trends. It can easily get out of hand though – simply there’s not enough time for anyone to learn all new stuff, work and live a normal life simultaneously. Selection is thus the key, being smartly selective about new things to learn so we won’t miss important stuff but also keep ‘junk’ or unimportant trends out.

I created this small and ever-incomplete list of things I feel we all should pay attention to and practice. Some items could be considered ‘old’ (read: more than a few months old) but still not grasped enough yet.

Without further ado I present thee the list:

1. Learn and use a modern scripting language

it can be Ruby, Python, Groovy or TheNextBigShot coming along, it doesn’t really matter. What matters is having a quick and easy tool for anything at hand so we won’t have to fire up our java IDE for a simple script. Also (most of) these languages encourage good pracices and methods, changing our attitude towards programming and program design. Embracing these “wow, look how elegant and simple that is!” solutions also become expectations with time (because we’ll get used to the ease and convenience), thus we will be striving for elegance and quality – helping impoving all of our further designs and codes.

2. Learn thogoughly and embrace the philosophy of a modern version control system

Be it Git or Mercurial, but start using them. Right now. Embrace the paradigm shift that gave birth to these tools. If not at work then try any of these on a personal project. These tools fit better to a natural cycle of development than our old tools svn or cvs. Being distributed does not mean they can’t be used as a central company repo solution. They both encourage the concept of cheap local branching, keeping you safe by being able to revert any time (as traditional VCSes) and also keeping the central main repo clean of nitty-gritty details. Be familiar with NoSQL solutions like MongoDB, CouchDB.

These beasts can be a real life-saver when traditional relational DBs reach their limits at scaling and performance. Both MongoDB and CouchDB are what’s called a ‘document-oriented database’ which means that instead of rigid schemas the structure of each row is taken into account – they don’t even have to have the same fields, etc. The concept of ‘row’ becomes the concept of ‘document’. JSON-like data structures, dynamic queries, efficient storage of binary data (like videos, images), mapreduce support account for their robust and easy use-cases.

3. Learn a functional language – or more than one.

It’s about the paradigm shift and philosophy again. The more things you see and use the more complete you repertoire will become. Object-oriented / imperative design is not the only one out there. Take a look at Erlang for starters, it’s easy to learn and with it you can dip your toe in the water, but for more serious stuff Haskell or OCaml is a must (I vote for Haskell though). I’d say learning a functional language is not an option anymore – it’s a must.

Some problems can be solved in an insanely easy manner with a functional approach and for example Haskell can easily implement any mathematic definition or problem you’d be having a problem describing in any imperative language. Also GHC (The Glasgow Haskell Compiler) is a state of the art optimizing compiler, one of the best compiler available now. Of course Haskell is not only for scientists, many good libraries are coming out written in haskell. Also see Real world Haskell for a nice intro. Erlang is well known for its fault tolerance, concurrency paradigms, hot-swappable code and exceptional networking support. Having such a tool at hand is always a bonus.

4. Study agile methods and concepts.

Agile management is not only for managers. There’s a need for the whole team to have a good understanding about their own development and management process. Agile helps to standardize management and daily programmer work, enforcing a small, controllable devel/release/testing cycle and also encouraging good communication all across the team (actually agile just can’t work without good communication!). Just look at the Agile manifesto. Some important derivatives and parts of agile methods:
– TDD – Test Driven Development
– Iteration-based development – deliver less but more frequently in well-defined short bursts
– BDD – Behavior Driven Development
– XP – Extreme Programming
– CI – Continuous Integration
– Scrum

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