Robot trading is one of the hottest new trends in binary options trading. It comes with a lot of benefits, but there are also some dangers involved. If you’re thinking of trading at IQ Options, you are probably curious about how to robot trade here, if that’s even possible. Let’s take a brief look at […]
24Option Robot Trading
Robot trading is one of the biggest trends going on right now in the world of binary options, and it is possible to use this automatic trading method with 24Option. However, because there is not a direct in-house trading robot available directly through this broker, you will need to use an outside service if this is something that you are interested in.Here is the Robot Software we Recommend
If you aren’t sure, a trading robot allows you to make trades automatically, even when you are not at your computer. The premise that most trading robots use is that you set aside an amount of money in your automatic trading account, select a risk level, perhaps customize the trade types or the signals that you are focused on, and then let it do its thing. If all goes how it’s supposed to, your trading robot will make trades for you as the criteria are met, and over time, a profit will be created.
When done right, a trading robot can streamline your trading and help you make money whether you are at your computer or not. This can help you to be a far more profitable trader, and it can help you to do so while saving you a lot of time, also.
Which Robot to Use?
The robot that is currently the most popularly used in binary options trading is called Binary Options Robot. It has a very strong track record, and is compatible with several different binary options brokers, including 24Option. This is the robot that we most highly recommend for use with this broker simply because it has been around long enough to prove itself to be effective.
Binary Options Robot has some other benefits. It is free to create an account, which makes it a very attractive product right off the bat. Other robots often have signup, purchase, or subscription fees associated with them. This does not mean that Binary Options Robot is free. You will pay for the service through changed spreads, but this cost is something that is basically unfelt and paid very gradually over the course of time. Most traders prefer this.
There are other robots that you may want to consider. When choosing which one to use, there are a number of things to take into account. You want to see what the earnings rate is for the robot, and over how long it has earned that rate. For example, if you see a robot has returned 150 percent, but has only been open for a month, this is certainly not as impressive as a robot that’s been open for three years, and has returned 50 percent. You will also want to see how the robot accesses a broker. Some robots give you direct access to the broker, such as with a proprietary, in-house robot. Others allow you to access several different brokers all from the same robot, acting as a third-party platform, executing trades for you.
Whichever route you mean to go, be sure that the robot is going to do what you expect it will do. Even a free robot service will cost you money if it is making poor trades for you. Losing money automatically is certainly not the purpose you have behind using a trading robot.
Setting Up an Account
If you choose to create an account with Binary Options Robot, the process is very simple. You will need to go to the Binary Options Robot site and create a new account. When you are asked to choose a broker, select 24Option from the list of brokers provided. Next, fund your account and select the risk levels that you want to take on. If you have never used a binary options trading robot, we recommend starting out at the lowest risk level possible. You can work your way up as you gain more experience with the software.
A lot of new traders wonder how much they should deposit in their robot trading account when they first start. At 24Option, the minimum that you will need to deposit to get started is $250 USD. You certainly can start out with the bare minimum, but this isn’t always the smartest choice. When you begin trading, one of the things you will find is that you are recommended to never trade more than 2 percent of your trading capital at a time. So, if you deposit just $250 into a robot account to use at 24Option, you shouldn’t risk more than $5 per trade. Their minimum investment is set too high for this to be realistic. You may succeed at this broker depositing just the minimum, but your chances of success go up if you deposit at least $500 to $1,000 with a trading robot account.
One of the hassles that we noticed right away with Binary Options Robot is that you cannot link it to a pre-existing account. For example, let’s say that you want to trade at 24Option, and go and create an account here. You make your first deposit, and you start trading. Now, after a few weeks, you decide that you want to simplify your life and use a trading robot. If you want to stick with 24Option, you would need to create a new account through Binary Options Robot and fund it separately. If your money is currently tied up in your account, then this process will take a while to get going.
Of course, there is a benefit to having two different counts: one for personal use and one for automated trading. Newer traders should not pursue this as it magnifies the risk that you will take on. An inexperienced trader will feel this much more than a seasoned one. Make sure you learn and educate yourself first.
Trading at 24Option is a great way to gain access to the binary options market, and using a trading robot is often an easy method to simplify your life, while still making a profit. If you decide to use 24Option as your main broker, then looking into using a trading robot with them may prove to be beneficial to you.