Robot for binary options (expert Advisor) is a program code that gives you the opportunity to trade in automatic mode. The robot is based on a combination of several indicators working on a strategy and system of risk management, limiting potential losses. Professionals (especially those with MT4) can optimize the code, the rest of the traders to increase profits can use the settings of the indicators of the program. As in the case with strategies, the advisers should be tested.
Rules of work with Expert Advisor
Robot saves time, but still requires human control. Advantage of advisors is that they are faster and more accurate than humans determine the new point to the entrance, but only work for a given algorithm. The best option just use MT4, sharpened by algorithmic trading. After the program is installed in the appropriate folder, it is ready for use. And the biggest advantage of MT4 is the ability to upload backtest to analyze deals.
The types of robots for binary options:
- fully automatic. According to signals of indicators determine the entry points in the market, can work without the intervention of the trader;
- semi-automatic. A trader himself sets (changes) the size of the bet, early stopping binary option or extends it in manual mode, set the parameters of the risk-management etc.
We highly recommend semi-automatic robots, since the work of programs is not perfect and needs human control. And yet expert Advisor is a very effective program.
How to choose an adviser:
- each Robot works only with a specific asset and on the same timeframe. Decide what strategy you want to use and choose a robot for binary options;
- no need to pay for money for application (Robot can cost an average of $ 200)! Even for Forex a reliable robot is an expert Advisor with quality backtester and bound to the monitor. Binary options accounts are rarely attached to monitor, so there is a big risk to waste money;
- test robot on a demo account, fix main parameters of the system and make sure that the robot on a real account is not different from the test.
Examples of professional robots for binary options
There are hundreds of examples of free programs, however, 90% of them bring to a loss. We will give some examples of profitable expert advisors for the binary options reviews about which are mostly positive. But be warned that the work settings are highly individual.
- Abi. This Robot has a dedicated website up and running since 2014 — 3 years in the binary options market is an achievement. Only works with some brokers that you can choose from a list after registration. Its advantages are: the availability of statistics of trading, a wide range of assets, there are recommendations on how to configure multilingual support. The mechanism of operation is based on trend indicators and oscillators: RSI, MACD, CCI, Bollinger bands and stochastic. Strategy — classic, martingale and Fibonacci.
- Binary Bot. Progressive tool provided by the company Binary.com. Is a service to create automatic systems. It works on the basis of the finished module, which should specify the basic parameters of the strategy (the option type, currency pair, rate, timeframe, indicators). No scripts should be written — the service itself will develop a robot for the given parameters, and the user will remain his only test. Working on a demo account, for a review of the results can be copied to the transaction in XML file.
- BinBot. Program for automatic and semi-automatic trade, provided by uTrader broker. The program is based on the principle of copying trades, signals arrive from different traders, and the program determines the state of the market, evaluates the effectiveness and appropriateness of the transaction, and then makes a decision on the entrance. In semi-automatic mode the trader can itself check the data of the EA and make a decision. The profitability of the adviser from 60% of profitable trades.
- ELLY Boot. Trading software that you can download on the website of the developer. Available in test mode, but then you need to issue the monthly subscription. Working with companies ExpertOption and Olymp Trade.
How to work with trading signals on the example of Grosl Trader platform
Not all platforms allow you to install expert advisors and the alternative is trading signals that can be provided by the broker and the developer of the platform. Every broker is interested in the fact that the client increases the volume of transactions and best of all this is motivated by profit. Because the broker is interested that people receive accurate signals.
- Reference: trading signals — it is the recommendation of the broker for the opening of transaction with a specific asset. Analysts of the broker themselves in manual or automatic mode, determine the best point to enter the market and give recommendations to the trader. The amount of the transaction defines the trader. Advantages: the trader does not need to understand the principles of operation of the indicators or to install robots.
Signals appear 3-10 times a day and not always accurate, but the total results from trade are still positive. A striking example — the platform Grosl Trader. It is not only convenient itself, but allows you to connect any broker from the drop-down list and provides the trader with signals when to open the position.
Effectiveness of binary options signals from January to March 2017 — 32% in three months!
And despite the losing April (-21%), the trader had the opportunity today to get 11% or 44% for the year. Signals are provided for free with a free trial period of 7 days.
Summary. Robot or automated trading EA is a trader’s assistant with which the trade is convenient and profitable. To work effectively you need to understand the operating principle of this EA, test it on a demo account and monitor the trade in semi-manual mode. There are no 100% profitable robots for binary options, but with a professional approach, the use of algorithmic trading can be really effective. If you have any questions or have suggestions for profitable programs, we propose to discuss in the comments. If someone has testing experience, we also invite you to share the experience with our readers.