Let’s start by talking a little bit about what a binary option robot is. A binary option robot is essentially just a software package that allows a trader to seek out potential binary option trades when the trader is doing other things.
The user enters certain data into the software and it uses the data to place trades that meet the programmed parameters. Think of the program as an extension of the user, except that it might actually be more effective at identifying strong trading signals.
How algorithm works
An algorithm is a set of step-by-step instructions that result in a precise set of operations. Algorithms are useful for analyzing and processing data and performing complicated calculations. Along with a bit of automated reasoning, they can process large amounts of data to reach effective conclusions.
Who is this type of software for?
That’s not to say the software can do it all alone. The user should have at least rudimentary understanding of how binary options work. Fortunately, this type of information is easy to find on various websites.
Investors that can get the most benefit from using a binary options robot include:
Even with limited knowledge of binary options trading, investors can use the software to fill in their knowledge gaps and to get better odds of success.
Many investors have other obligations that make it difficult for them to devote enough time to identify and conduct the most profitable trades. Binary options robots can help them make trades, even when they are busy with other things.
These traders make their living off trading and have developed patterns they like to follow. Binary options software can help them make more trades than they could do on their own.
How Mike’s Auto Trader performed
Mike Freeman, the developer of this binary option robot software, has a large following in the world of binary options trading, and it’s easy to see why. Mike seems to have a sixth sense when it comes to choosing winning binary options and Mike’s Auto Trader lives up to its claims and Mike’s reputation.
The software is free and easy to set up and use. This package is uniquely designed, not a clone of other binary robot software.
For this review, an account was created on GOptions and parameters were set to select $30 trades when signals indicated a profitable trade. Mike’s Auto Trader immediately started picking winning trades.
It’s important to mention that Mike’s Auto Trader is not 100% automatic. It would be more accurate to say it is signals analysis system. Mike has a reputation for picking winning signals, and has instilled some of that in his software. The program analyzes how you want trade, compares signals on an asset, and recommends trades. The software does not automatically place a trade, you also have the final choice.
Notes on the software
Mike’s Auto Trader says it is 100% automatic trading software, but it does not automatically place trades and always gives you the option to accept or decline recommended trades. It’s important to be aware that there are no fully stand-alone auto traders, all of them must be linked to a compatible brokerage site.
As an auto trader it is quite effective at identifying strong trading signals and recommending trades that are profitable more frequently than not. So while you must actually choose whether to accept the recommendation and actually place the trade, it does all the work for you in identifying and recommending trades.
Advantages of Mike’s Auto Trader
- The software was developed and is backed by a highly regarded name in the world of binary options trading
- The software is offered free to anyone who signs up with a compatible broker
- It is compatible with 7 major brokers, so you are sure to find one that you are happy to use.
- Chooses winning trades approximately 75% of the time, based on our experience.
- Return on investment of 60% or better.
- It is easy to download and set up. You can have it running quickly.
- It is a web-based application, so it doesn’t use any of your computer’s memory.
Disadvantages of Mike’s Auto Trader
- Not completely automatic, but to be fair, a 100% fully automated trading software doesn’t currently exist. In addition, many people don’t really want a bit of software automatically placing trades without having the opportunity to accept or decline the trade.
- It’s not very aggressive. It recommends a limited number of trades every day. Some traders would like to have more suggestions, even though the recommendations are usually winners.
- The software does not produce any signal charts of its own.
Mike’s Auto Trader isn’t for every investor, especially if you want more automation or want the software to place trades on your behalf. However, if you want software that offers trading suggestions and allows you to place the trade or not, it’s a good choice. The software doesn’t promise to make you rich overnight, but based on many reviews, Mike’s Auto Trader does tend to recommend consistent winners.
If you’re like most investors, making even a little bit of money on your trades is preferable to losing money. Mike’s Auto Trader can help you do this and is definitely worth to consider by just about any investor.
If you use the software, or are persuaded to give it a try, we would love to hear what you have to say, positive or negative. Leave a comment below.