Should You Buy a Trading System?

Trading SystemsIf you’ve figured out that your binary options trading shouldn’t be random, you’re already far ahead of a lot of your fellow traders. Deciding that you’re going to find a trading method is a great step to take. The next thing you’ll likely discover is that there are literally hundreds of binary trading systems for sale on the web. These systems often promise things like “turn $5000 into $500,000 in just one year,” or “Make $10,000 every two weeks” if you’ll just buy their trading system. Should you be tempted by these offers? What about mentoring services?

Trading Systems That Work – If Used Responsibly

There are trading systems out there which work, applied properly and by the right person. Some of those systems are sold by other traders, so yes, you can sometimes become profitable by buying a trading system. These systems aren’t usually promoted with so much hyperbole behind them however; there’s nothing trustworthy about ads which promise tremendous gains in short time periods. No one can actually promise you those kinds of gains, since they depend a lot on you, and how you apply the system. Plus, historical performance of a system is not a guarantee of future performance; it certainly makes it likely a system will perform well in the future, but it’s not set in stone. So unrealistic offers should be ignored in favor of more reasonable ones. The same goes for mentoring programs.

Furthermore, there are a lot of great free trading systems out there. Lots of traders are generous, friendly people who like to share what they’ve discovered with others. Why would anyone in such a competitive market be so generous? That’s easy; most new traders will crash and burn for lack of discipline. So it’s not like the few people who are making it are in any danger of being overrun by new winners. So they may as well share with others and cooperate for success. It’s a much better attitude to have.

Trading Systems – Signals & Mirrored Trading

Some people don’t like the term “trading system,” because the word “system” seems too rigid to them. There’s nothing “wrong” with the term, but if you find it misleading, you should probably think of trading systems as trading “methods.” The word system sounds mechanical, whereas method is a bit looser and allows for adjustment and discretion. How much discretion you should use in your own trading is a topic for another article.

To Buy or Not To Buy A System Or Signal Service?

So should you buy a system? You should probably look at free systems first, and try them out for yourself and experiment before you go spending money; you may find what you need without paying for it. If you do buy a method, you need to acknowledge that it’s not going to bring you binary options success instantaneously and without effort on your part. Most systems need to be adjusted to fit the schedules and personalities of their users. They also need adjustment for changing market conditions. Don’t lose discipline if you find something you know works well and can work in a variety of systems. Traders often go on a quest for the holy grail of systems, not realizing that to trade binary options successfully with any system usually means focusing and adapting. No system is perfect, but you’ll get much further by concentrating on one which is pretty good than running around searching for the key to turning your tiny bankroll into a massive fortune overnight.

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3 Comments

  1. Hi and thanks for your useful info: I appreciate, that somewhere along the line you probably have an association with some of the content you discuss but hey, that’s the world we live in… Anyway, there’s a platform I’ve been using for 2 days now called binary matrix pro. they’re in association with banc de binary and to be honest, they’re a total joke. I’m new to trading and using BMP for my first 2 days, I’ve lost nearly $100. 1st 6 trades today were all losses so, I decided to use my own intuition to make trades and surprise surprise,my next 4 trades were all wins which just goes to show, I’m at least as good at guessing as BMP but possibly even better. the BMP option I was using was 60 second trades

  2. Just fyi.. great site..and very useful info..I just tried to open an account at 24Option..

    Sorry, but for regulatory reasons we cannot accept residents from your country..

    I live in florida…I want to use the BOTS.. I will purchase through your aff. link..how about Stockpair?

    1. Sorry Richard but 24option and stockpair no longer accept US traders. MarketsWorld, Goptions and BossCapital accept US traders. Good luck!

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