Instead of learning how to read binary options charts , you may have considered paying a binary options signals provider to send you trade signals in the hopes of achieving big returns. Before you fork over your cash though there are a few things you should know. If a signal provider is really providing great signals they should know that people will stick with them after the free trial.

If there is talk of bots, robots or EAs, tread carefully. These are automated programs, and therefore lack any sort of discretion when it comes to the trades signals they provide. This can be a good thing, since it takes the emotion out of trading, but unfortunately most bots are created using back tested data and then optimised on that data. Marketed results are usually not based on a long-history of live trading.

While the marketer may promise that these bots adapt to all market conditions, this is generally not the case.

There are some good bots out there.

Some of the firms using these technologies reap millions. The robot you buy is more likely to have very little support behind it. Signal providers may advertise that they send out 3, 8, 15, 30, etcetera trades a day, but not all of these will end up being tradable.

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Try to find out how many actual trade signals are generated each day, and not just how many signals are set out. You can use statistics to make anything sound good because most people assume they know what the statistic represents. Or was that statistic based on optimised historical data?

If something is ambiguous, ask for clarification. Related to the statistics point above, there are very few signal providers who have a long track record to success.

In trading a history of success is important. Several months of good results or bad results in trading can still be attributed to randomness and not skill or lack of skill in the case of bad results.

Therefore, look for binary options signals providers that have been around the longest and have displayed skill by beating the markets consistently over the time they have been around. Be wary of signal providers that tell you how much you trade. For example some may tell you to trade 1 unit or 5 units on a given trade.

Reputable Binary Options Signals Providers

You should control how much you risk, it is your money. Good binary options signal providers needs to be able to get clearly communicated signals to you in a timely fashion. You must receive the signal, be able to read it and understand it, and then have enough time to place the trade.

This is why it is nice to have the free trial period to check all this out.

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As a trader you should treat trading like a business…your business. Signal providers come and go. Learning to trade for yourself is always the best option. Approach binary options signals providers with healthy skepticism. Reputable signal providers will be open, knowing they provide a good service. You must be logged in to post a comment. Free Binary Options Charts Live Binary Charts For Free.

Home Free MetaTrader Brokers Strategy Dont Trust Signals Forex Trading Vs Binary Trading Who Am I? Bots or Robots If there is talk of bots, robots or EAs, tread carefully. Lots of Signals, But No Trades Signal providers may advertise that they send out 3, 8, 15, 30, etcetera trades a day, but not all of these will end up being tradable. Warped Statistics You can use statistics to make anything sound good because most people assume they know what the statistic represents.

Lack Credibility and History Related to the statistics point above, there are very few signal providers who have a long track record to success.

Timing Issues Good binary options signal providers needs to be able to get clearly communicated signals to you in a timely fashion. Final Word Learning to trade for yourself is always the best option. Leave a Reply Click here to cancel reply. Binary Options Broker Of The Week. Read Review Open Account. Free Binary Options Charts.