Binary trading is rapidly rising in popularity and number of users. Even though it is a relatively new concept, there are many traders who trade binary options. Some use it as an additional source of income, but some even take it as a full-time job.
Due to the increase in popularity and number of users of this method, there are plenty of helpful trading tools online. You can find helpful tutorials, e-books and videos, or attend video seminars. Also, there are various tools for automated trading, which are constantly being developed and perfected.
Why is automated trading useful?
Automated trading is a fairly new concept, but the developers are constantly on its novelties and improvements. Binary traders use it to perform the trades automatically, without spending their time in front of the computer at a trading platform. While you can hear different opinions about automated trading systems, there are inevitably certain benefits they provide.
First of all, they help eliminate emotions from trading, which is one of the essential elements for success. Emotional decisions are undesirable in binary trading, and it can cost you a lot of money. Sometimes, however, it is difficult not to fall under the influence of emotions or tiredness. This is when automated trading can take over and you can have some rest.
Another advantage is that you can let the automated system trade, and do something else. You can either spend time trading on another platform, or do something completely else. Many traders who have full-time jobs leave the binary robots trade on their behalf while they are at work. This saves a lot of time and allows you spend it on making more money or simply enjoying some other activity.
Binary signals are generated by complex algorithms. They are basically suggestions whether you should trade a certain option and how to trade it. If you subscribe to receiving these alerts, you can get them via email, SMS or other channel. They are trading suggestions for you, and you are the one who makes the decision and performs the trade.
Automated trading robots, like Millionaire Blueprint, use these trading signals to generate the trades. The software delivers the signals to binary robots, and they execute the trade according to these signals. This way, the trader does not decide whether to follow the signals or not, but the robot does it automatically.
Binary robots like, BOR for example (learn more about it at http://cybermentors.org.uk/binary-option-robot-review-real-deal/), are automated trading systems. They allow you to set the trading parameters, place the funds and let the system do the trading for you. Some robots do not allow traders to enter many trading parameters, so you can be limited in decisions you make before you let the robot trade. On the other hand, there are robots that allow you to set up time frames, maximum amount of loss, number of trades and many other parameters. You can even choose an option that the robot does not follow the signals, but trade the opposite of what they suggest. When you have a lot of parameters, you can personalize even the automated trade. This way, you will spare yourself the emotional decisions and save some time for other activities.