Normally, a person who wants to make money by trading binary options will have to study and practice for a few months just like with any other profession. There is a lot to learn: You will need to know how to read financial graphs, how to conduct market research focusing on different assets, how to recognise and be aware of trends, how to conduct technical and fundamental analysis, and so on and so forth. You cannot become a professional trader overnight. For this reason, many traders start their journey by following services that provide binary options signals. Such services can be divided into manual binary options signals and fully automated systems which are also called robots.
Binary options signals: Software
Unfortunately, there are many scam signal services, offering a magical solution to make money with fully-automated bots. Check out my objective scam reviews blog to find out which services are scams. It is usually the case that software that work on 100% autopilot are scams. The only software I recommend would be semi-automated bots, which provide many signals out of which you need to choose the signals you want to trade, and robots, which provide a platform for trading on your own. These are two types of software that I can recommend:
- Semi-automated signal services: With a click of a button you can place trades and there’s no need to manually apply the signals into a broker’s account. The signals are usually generated automatically based on technical analysis scripts. The trader himself has to perform the fundamental analysis in order to decide which signals provided by the software will be profitable, which means you need to have trading knowledge or experience to use them successfully. Or, you lack the required skills, you can compare the available signals with signals generated by professional human traders and choose signals recommended by both software and person. An example of such robots would be Howard Kessler and Mobile Binary Code.
- Robots: Another type of software provides you with a platform to place a certain type of trades. Quantum Code and Centument , for example, both are robots which allow you with a convenient platform to place 1 minute, 2 minutes and 5 minute trades. Of course, you need to know what you’re doing in order to know which trades to place, or you can use such robots together with a manual signal service. Here’s an article comparing Quantum Code and Centument for your convenience.
Manual binary options signals
Manual signal services are the best option for most binary options traders. If you join a manual signal service, you will receive signals, usually via email, text messages, Facebook, Skype or a special platform, and need to apply them manually to your trading account at the broker. Manual trading is also a stepping stone for one to become a trader on his own right. So whether you are looking to become a professional trader or just want to enjoy trading – this would be our most recommended binary options signals category for you. Even if you can only trade for 1-2 hours a day, manual trading is a good option for you.