This page is my personal review of an automated binary options trading tool that I found called “BinaryAuto Trader”. The official website is www.binaryautotrader.com and the service they provide is an automatic trading tool that places trades on your behalf. I picked up a copy of the binary options auto trader myself and decided to put it to the test and do a real life review. More of a testimonial if you will. Let’s get to it:
Binary Auto Trader Quick Details / Overview
- The product: Automated, hands free binary trading tool
- What is it: A google chrome extension
- How Much Does It Cost?: $179 / month
- How Do I Get It?: Visit www.BinaryAutoTrader.com
- You will need an account at a binary broker compatible with the software. We recommend and are using 24option.com
My Experience Using the Binary Option Auto Trader
So I was really excited to find this product. I remained skeptical but was willing to give it a risk. The product looked good looking and they have a realistic win/loss rate that they publicly display. Here is how it works:
- Order the product from their website and check your email for a link to click. *You will need the google chrome browser. It’s free.
- Then you need to download the google chrome plugin – This is very simple and the click of the mouse
I was impressed with how easy it was to set up and start. No files to download and locate on my system to execute. Just push the button and the plugin displays in my chrome toolbar, at the top right. I opened up the plugin and logged into my account at 24 option. Once logged in to 24o, the plugin has 4 fields to confirm before it begins trading for you.
Before The Auto Trader Begins Making Trades There Are 5 Fields To Confirm
- First it shows whether or not you are logged into the broker. It also has an optional field that will keep you logged in automatically if you enter your login and password.
- Next, it confirms that you are logged into your BOAT (BinaryOptionsAutoTrader account) – if not you can click to log in
- Next it lets you define your trading amount. This is how much you are risking per trade. The minimum is $25. You also can select an option here that lets you take a trade again in case you get a broker error when trying to fill the trade (I left this option off, I did not want to try and re-take the trade if there was an error at first)
- Next it requires you to agree to the terms and conditions
- Click ‘start trading’ – Once all lights are green it will execute any trade signal it receives.
Day 1 starts with a with a $176 balance at 24option.com.
About an hour after starting the auto-trader software I still do not have a trade placed yet. I’ve logged in and out a few times to make sure I am connected.
My first trade signal comes about an hour and a half after starting the signal. I was notified by a small box that pops up at the bottom right hand corner of my screen. I haven’t been able to screen shot the signal alert that pops up because because it only lasts a few seconds before dropping back out of view. But as soon as I go back to the 24 option screen, I see that I’m in my first trade. It is a put on the GPB/USD. It has a 10 minute expiry and my strike price is 1.57568. I want this binary option to expire below this price!
Yes – a winner! I’m pleased of course. I’m up already. Three minutes later I see another trade signal. Let’s do this.
The next trade was a 30 minute expiry and was a loss. The automatic system is 1/1 and I’m down a few dollars due to the vig. An hour and a half later another trade was taken with a 10 minute expiry and it is also a loss. I’m down a little bit at 1/2 however I do like that my losses were by very narrow margins. I am talking a few pipets here or there. My win was healthily in the winning side. The losses were both very close, which gives me some positive info to report.
I’m down a little bit, no big deal.
Later that day, two long term binary option trades were taken. There were higher risk, higher reward trades that did not close for a few days. They actually took place from a Tuesday entry to a Friday closing. These offered the higher end payouts of around 300%. I did not expect these trades to be honest. I would not know the results until after my trip to Disney World that is planned for Thursday through Monday.
The system took two more short term trades for me the first day with one win and one loss.
My balance was sitting at $132 with two $25 trades still open with a $75 each payout if they win. If even 1 of them won I will be sitting around $155 or so.
Day 2 – Good Day – The next day was sweet as the system took three trades overall with 2 wins and 1 push. The push is returned even money. I’m happy so far with the system.
I left for Disney World – No Trading
I suppose technically I could have left the binary auto trader on while I was away and saw how things turned out but I want to see the trades taking place and I wanted to know the ins and outs of the binary automatic trading tool so I could do a real review for you.
I turned it off, had a blast at Disney and was back to work before you knew it. *Wow those character dinners are expensive, bring your trading account balances to Disney my friends!
I ended up losing both of the longshot 300% return trades.
My account is down to $132. I’m down $44 so far. That kind of sucks. Oh well, I’m in this until I bust my limited bankroll or I make $500.
Back To Work Testing The Binary Auto Trader
The first day back from Disney is an uneventful one. No trades were taken at all by the system this day. I’m not sure if I am connected correctly however I’m catching up on work and not paying attention to turning it on. It could have been on and just no signals triggered. I”m not certain.
Feb 6th – Back at the office and turned on the binaryautotrader today and made sure I was good and logged in. No action at all through lunch. I think the system maybe not be working?
Then at 1:45 or so I get a trade signal pop up on my screen. Yes – a winner. And by a healthy margin. I like to see that. Things are going pretty good. I am not making boat loads of cash yet but I’m a bit surprised.
Then, it starts going down hill. The next few days are a series of losses with a random win mixed in here or there. I’m going to go ahead and publish the review as it sits right now even though it is not portraying the BinaryAutoTrader in the most positive light. The truth is, you can see that the times I have been using the system have been reportedly some of their worst in performance so far. You can see the public results on their website (which I give them kudos for that) and decide for yourself. Just visit their site and you can see the full lists of results, wins and losses.
Where do I stand at the end of this review?
My account balance is sitting at
$56 $77, it just won another trade just after publishing this. I have enough for two three more trades if they both lose. Let’s hope we catch a good run and turn this around or I will have to conclude my review a recommendation to hold off on making the investment into the system unless you are prepared not only to pay the $179 / month fee but also willing to lose your trading account while the guys work to turn their results back around.
Update – Feb 18th my account is BUSTO
Even though I went broke using the system, there was something I liked about it. I like the system, it is simple and easy and it has potential.
I do not think it is a substitute for the highly skilled traders who do this for a living or those that want to trade profitably and will put in the man hours.
I do think that for the average trader who is looking to gamble a bit on the binaries and has the bankroll to take the risk it very well could turn into a profitable venture if the system runs good for a while. It seems that looking at their published record, my timing was about as bad as it gets as far as when I was running the auto-trader.
If you want to check it out, just visit their website here at www.binaryautotrader.com. I also encourage others experiences and thoughts on this product below, I would love your honest feedback.
Final Word: If you found this review helpful would you please share it on Facebook or Twitter? Thank you in advance!