Binary options is undoubtedly the simplest financial market to trade, whether you are a beginner or a professional trader. This is mainly because you only have to predict whether the price of the underlying asset will rise or fall in a specific time frame.
Although it may sound easy, keep it in mind that you have to accurately open trading positions by considering trade entry and exit times. Well, that’s when automated trading comes in handy.
Automated trading is a trend that is slowly catching up with binary options trading which has made the industry even more appealing to beginners. Simply put, automated trading involves using a software to generate trading signals and automatically trading the signals. Sounds easy, right?
Why automated trading is for you
More accurate- getting quality signals is one thing, but trading the signals is an entirely different thing. Success of signal trading is usually hinged on how precisely you trade the signals. Meaning that the trade entry and exit times have to be perfect. A second early or a second late can be the difference between an “in the money” outcome and “an out of the money” outcome. Automated trading, however, solves this problem by automatically opening trading positions at exact trading times.
Beginner friendly– Even though trading binary options is pretty simple, it is not a “lesser” financial markets and there are risks, albeit fixed. Beginners may be at a disadvantage due to poor charting and analysis skills. Using trading software gives beginners an edge and sort of levels the playground and if used optimally, can be a vital building block of a successful trading career.
Eliminates risks of emotional trading– Well, emotions are part of us and there is no way we can eliminate them from our lives. Have you ever made a substantial profit in a trading session only to get greedy and lose it all in minutes? Emotions can easily push you to making uninformed decisions which can negatively affect your trading career. For instance, it’s a common occurrence in binary options trading where traders invest heavily on a single trade after making a loss in an attempt to recoup the loss in a single trade . Revenge trading can have disastrous effect on your bankroll.
Whether you are a part time or full-time trader, auto trading can always come in handy. To that end, we have featured one of the best auto trader in the market today.