Trading with Binary Signals
Regardless of what sort of binary trader you are – risk-averse or risk-taking – you might benefit from subscribing to binary signals. You can use binary signals as part of all sorts of binary strategies. Many traders find that trading with binary signals give their trading a considerable lift.
If you are ambitious, and plan to make a serious amount of money in binary trading, you need to achieve consistent success over time. It is not enough to get some good winners here and there. You need to trade a lot over a longer time-frame, and you need to pick a lot more winners than losers.
Achieving a high trading volume and a high success rate can be very challenging. One way to boost your performance in both categories can be to subscribe to binary signals. This way, you benefit from expert advice to help guide your trading.
How to start trading with binary signals
A binary signal is a recommended binary trade. It is generated by a highly sophisticated piece of computer software that has been designed to scan the markets for just this sort of opportunity.
Companies called signal providers will create such signals and offer to sell them to you in exchange for a monthly subscription fee. By signing up, you gain access to a certain amount of signals every trading day. By taking advantage of them, you are effectively trading on the same advice that the pros take advantage of.
The signal providers will send you signals on email or by SMS messaging. Once you get a signal, you simply go to your binary broker and complete the recommended trade. It really is that simple. Here are some helpful pointers that can help you make the most of binary signals:
- Choose your signal provider with care – some providers are better than others. Make sure your provider sends out a decent amount of signals per day (more than 4), and that they have a good, verifiable strike rate that is published on their website. You should expect a success rate of at least 70 %.
- Act on as many signals as possible – as mentioned above, the secret to lasting success in binary trading is to trade often and with a high win percentage. By acting on as many of the signals you receive as possible, you increase your chances of achieving this.
- Don’t pay over the odds – signals vary in cost. Mostly, you will be able to get high quality binary signals at a price of about $100 per month. If you are paying more than this, you better make sure you are getting some sort of service not available elsewhere.
Please note that many signal providers offer free trials. Take advantage of these to try out different providers until you find the one that’s right for you.
Binary signals and binary strategies
Just because you’re subscribing to a signal provider it doesn’t mean that you can stop considering strategy. You are still in charge. You still have to choose trades that fit with your style – high-risk or low-risk. You also need to stick to your money-management strategy. Signals are not perfect. You will still lose trades, probably around 30 % or your trades, in fact. This means that a smart money-management strategy is every bit as important when you are trading on signals as when you are not.
In fact, you can choose your signals on the basis of your strategy. For example, some signal providers might offer more high-risk signals than others. Some might specialize in low-risk trades. And then there are some that let you choose.
Also, if you have a preferred sort of option you like to invest in – touch options or boundary options, for example – you should seek out signal providers that offer signals that fit.
The same goes for assets. Not all signal providers offer signals pertaining to all sorts of asset. Make sure that your provider follows the assets you are interested in, and generate the relevant signals.