Evolution of Binary Options Trading Software

binary options trading softwareOver the course of the last few years, we have seen a tremendous evolution in the development of binary products. From the initial classic High/Low binaries, today we have a range of other binary options such as 60 second options, One touch options, 0 – 100options and pair options.

At the same time, we have also seen development in the binary industry in the way in which binaries are traded. Recent developments of advanced trading tools such as AlgoBit, Binary Autotrader and SignalPush have helped to push binary options trading methodologies to nearly the same level as the more developed forex market. Let’s break down some of the newest and most popular trading software types for binaries.

AlgoBit Trading Management System

AlgoBit is a new innovative trading management system which helps traders to scan the markets for signs of volatility and alert traders of any potential profitable trends. A self contained system, AlgoBit utilizes TRADOLOGIC API for integration with the binary trading platform. With AlgoBit, trading direcetion is predetermined by the system. Of course, the system also allows traders to manually override the preset direction. In addition to helping traders automate the trading process, the system also help traders to update their trading account once a trade is same. Currently, only a few binary brokers like OptionBit have incorporated the AlgoBit management into their trading platform. It is likely that as time goes by, more and more brokers will also incorporate AlgoBit onto their trading platforms.

Binary AutoTrader

Another new development in the binary trading is the Binary AutoTrader. What the AutoTrader tries to do is to mirror the workings of Expert Advisors or EAs in the forex world. As the name implies, the AutoTrader help traders to automate their trading process. However, instead of relying on programming rules like EAs, the AutoTrader rely on the signals of a professional trader to provide the impetus for making a trade. In other words, the decision making process is more discretionary rather than robotic.

SignalPush

For traders who rely on multiple signal providers, the tool to have is an application called SignalPush. This application helps traders to consolidate all the trading signals received by a trader on a dashboard in less time than it takes to blink your eyes! In other words, it helps to reduce the trader’s response time in processing the signals received. However, what is truly remarkable about is the fact that it has a built-in automated trade copier. Upon receipt of the various signals, signals that are within the trader’s specified parameters are acted upon automatically by the trade copier and executed directly through the trader’s trading account. This reduces the time lag between receiving a trading signal and the execution of a trade based on the signal.

Conclusion

The main benefit of using the above mentioned systems is the time that a trader can save. In other words, the trader gets to improve his trading efficiency. As these systems rely on signals, it also meant that traders can now capitalize on the knowledge and experiences of more professional traders for just a small monthly subscription fee. Nevertheless, it should be remembered that no system is ever fool proof. Hence, traders should evaluate these systems personally and decide for themselves which systems would suit them best.

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