Binary options robot BinBot
BinBot is the automatic and semi-automatic trading development of the Utrader operator of binary options trading financial services. From the words of the developers, BinBot is a robot created with the latest technological developments in the market of binary options trading. Besides, the algorithm of this advisor, which guarantees more than 60% of profitable trades, is supplemented with changing potential losses into profits mechanism obtained by increasing the next trade volume for the amount of the previous trade loss.
So, what is the nerve center of the robot? The secret of profitability exceeding 60% is that it is guaranteed by the experience and expertise of other traders.
How does it work?
The Utrader Company constantly gathers client trade statistics, automatically highlighting profit leaders. Trades of such clients are the basis for generating trading signals for trading in BinBot. That is, thousands of successful traders execute binary options trades resulting in a steady income, and the Company has taken the path to make the experience and skills of professionals available for beginners. All trades executed by professional clients are summarized every second and compiled in packets to be delivered to the terminals of the traders who are connected to BinBot. At the same time, the terminal receiving data trading signals executes trades accordingly for its users. What is it then? BinBot is a common system of replicating other people's trades. However, in this automated trading system the methodology of risk diversification is used, since signals are received from traders trading completely different trading systems. These signals are mixed and re-distributed between the terminals. When the market is trending, signals from traders who trade with the trend earn money, when the market is flat, there is an opportunity to capitalize on the signals of those who trade in the price channels during quiet market. Thus, this system insures risks of trading losses of some traders by the gains or the others. What happens when a trade generates a loss? BinBot increases the following trade amount for the amount of incurred loss, so that it is fully covered by the amount of loss, in case of robot profitability of more than 60% it happens very fast.
The way of BinBot use
This automated trading software is available for both automatic and semi-automatic trading.
When trader chooses automated trading mode:
- Adviser gets full "carte blanche" for independent trading, at the same time the trade execution is carried based on the abovementioned algorithm, trader’s manual intervention is not even desirable since the user will intervene with the algorithm of the BinBot trading robot.
- trading signals are received by trader’s terminal and he decides whether to use them in trading or ignore. With this, the presence of traded assets quotes in the BinBot platform provides the opportunity to perform an additional analysis and decide whether the received signal is correct and relevant or should it be simply ignored. If the signal is thought to be correct, trader confirms the trade execution request or executes it by himself.
As mentioned above, robot signals execution profitability is not less than 60%. Such rate is not just made up, it is a result of testing trading signals of BinBot as well as evaluating traders executions, whose trades are taken as a basis for replicating them to the terminals of other market players. Reviews of BinBot are almost always positive. Since, with this trading advisor, traders’ profitability increases significantly, both in cases of automatic use by novice traders and in case of semi-automatic trading, where the signals of the robot are used only as tools of finding the most profitable trades.
Why BinBot is sometimes not trusted
Winning percentage is 60% and that is enough for profitable trading in such a way of automated trading. However, the mentioned profitability may be insufficient if BinBot is misused. Since you need to be aware that excessively small deposit is not suitable for use in the BinBot trading. Especially knowing that the loss to profit algorithm of this robot supposes that the amount of the trade following the losing trade will be increased to a size equal to the losses generated in the previous trade. Thus, the size of the trades in the case of a series of losses will increase diametrically - with arithmetic progression. That is, the deposit size of USD 200 will disappear after the 4th doubling. That is the source for BinBot bad reviews, which in its essence is quite stable robot, which is profitable if used properly. According to the use of the automated trading software statistics, almost all “blown” traders deposits ranged in size from 200 USD to 500 USD, which did not allow BinBot to properly use its ability to convert a losing trade into profit. Although such replicating system provided by Utrader for its customers is not offered by any other brokerage company.