Why are most Binary Options Signals not successful?
Thursday, August 14th, 2014 by Michael Freeman
In reference to my last YouTube video answering the question Why most Binary Options Signals services FAIL? I decided to post this article for my blog subscribers and other readers who might be asking the same important question.
So why most signals services fail? The first reason, which is not what I am going to be discussing today is that many of the services are simply fake and/or have no clue on how to trade binary options and obviously cant meet the advertised performance. However, this is not the reason I want to go over today and instead I want to discuss the reason why the highly rated, profitable services are often unable to deliver subscribers with a profitable trading results. There is a core issue that many services fail to address on their offer pages and it might be in deliberately but in doesnt change the sad reality in which the end result is a losing performance!
The Reason why Most Binary Options Signals FAIL is because each broker offers different entry and expiry times so in many cases what happens is that the signals service or softwares sends/generates a signal, with the signal not matching any available expiry time on your trading platform. Many traders end up setting the expiry for 15,30 minutes later than the specified expiry on the signal. The problem is that even if youre off by a few minutes in setting the expiry according to the signal, you can lose a potentially winning trade. Binary options are traded on short-term expiry times and price can be extremely volatile, every pip counts and if a trader is unable to match the signals expiry with an expiry thats currently available on his/her live trading account, the signal is worthless.
Most of the signals services dont address this issue and many traders end up giving up because they cant seem to make sense of how to set the expiry according to the signal and based on all the feedback I am getting from traders, it seems like the issue is widespread and many signals services and software fail to find a solution to this significant matter.
I want you guys to take the Option Bot 2.0 as an example, as its one of the few software developed with this factor in mind. They found a solution to this problem by introducing a software that allows traders to maximize their ability to accurately trade each signal that is generated by the software by allowing traders to enter trades on multiple broker platforms simultaneously while automatically identifying the broker with the matching expiry for each signal the software generates. By the way, I am a great fan Gary Davis fan (the software developer), supporter and active trader on the Option Bot 2.0 and if you plan to trade / or currently trading with the Option Bot 2.0 I want you to checkout the YouTube video on my recommended trading hours, setting and currency pairs when trading on the Option Bot 2.0. (Optionbot Best Setting, hours and Assets ) Its one of the most popular software in the market today and maintained its reputation over the years due to its ability to retain their traders by delivering profitable results. The idea of trading a profitable signal on multiple platforms is very appealing as it allows traders to leverage the profits from each signal delivered by the Option Bot 2.0 while the signals expiry matches 2+ broker platforms.
If you shop around for a reliable software or signals services, your search might yield no results since almost none of the software or services in the binary options market today, managed to connect traders with the right brokers or take the necessary steps in order to create a software that can match each signal with the right expiry offered by their clients brokers.
I also operate my own signals group and send signals to a group of subscribers, I make sure to address this issue in my own way by sending signals with expiry times that are available on all broker platforms listed on my signals group and I also help traders understand the time zone differences in case theres any confusion. Another issue is with support, if traders have no clue how to trade the signal and the service doesnt offer proper support, the trader is bound to fail. The goal is to make sure that a trader is able to enter the trade %100 in accordance to the signal. The Option Bot 2.0 managed to automate this process while in my case, I dont offer a software to my subscribers but my signals are delivered on time via or SMS. If you are interested to participate in my signals group you can register on my Mikes Signals Group Page !
My conclusion is that obviously theres a way to solve this issue but most binary options signals simply dont care if the signal matches the traders entry/expiry times and in many cases this is the reason why most services, reliable or not, end up failing their subscribers!
I hope this article clarified this very important issue that bothers many traders. I receive many s from traders who report failed experiences and often with services that are known to achieve good results and receive high ratings, yet if they fail to connect their traders with the right brokers, chances are they might set their traders for failure.
Visit my list of Recommended Signals on the BinaryoptionsChannel
If you have any questions on binary options signals services, software or anything else relating to binary options you are welcome to comment below or me at tradingbinaryonline com
Is ITM Genesis Elite a SCAM or a Reliable Sofware?
Sunday, August 10th, 2014 by Michael Freeman
Is ITM Genesis Elite a scam?
My quest to find if the ITM genesis Elite is legitimate, landed me on a YouTube video by a fairly believable individual by the name of Randy Churchill and in his video, ITM Genesis Elite Does The Software Work?. he mentioned how in the ITM Genesis Elite promotional videos, the promoter demonstrated live trades with a %100 a winning trading record. In fact, this promoter appeared to have posted lots of videos showcasing a flawless performance using the ITM Financial products such a the ITM Genesis Elite. Can anyone truly achieve such excellency with online trading?!
ITM Genesis Elite Live Trades Real or Fake?
I seriously question the authenticity of the trades and wonder if they were made using a live trading account or from a demo and as Randy stated Binary International (the broker synced with ITM Genesis Elite) provides traders with a free demo so anyone who is interested to promote the ITM Financial Products (ITM Genesis Elite, GCAD and so on..) can register a free demo account and selectively showcase the most accurate trades and spam YouTube with promotional videos.
It doesnt take a math genius to showcase %100 winning live trades risking $1000s of dollars on each trade, while youre trading on a demo account and since demo and a live accounts are identical, viewers cant really evaluate the true performance of the product and know if the trades are made with real money.
ITM Financial Products Simply CRAP?
Another point Randy made is in regards to the alleged track record of ITM Financial of releasing worthless products and advertising the same products with different names. The main products advertised by ITM Financial are the ITM Platinum Pro, ITM Platinum Nexus, The GCAD Indicator and the ITM Genesis Elite, apparently all pointing to BinaryInternational trading platform, requiring traders to register an account and in addition to pay a software fee of up to $4,997! This is just in the case youre planning to buy the ITM Platinum Nexus life-time membershipOn the product description, they epically quote: for serious traders only. It seems to me like theyre trying to catch a big fish in an ocean of traders who are looking for a decent software.
Randy sums it up in one word, CRAP and to add fuel to the fire, apparently Michael Hodges from Binaryoptions. net is also not such a big fan of the ITM Financial products, according to his article titled GCAD Indicator from ITM Financial Comes with a Catch he emphasized the deliberate and obvious false advertising associated with the way in which ITM Financial sells the GCAD Indicator as a trading system while in reality its just another Technical Analysis Indicator. originally developed to spot trends for the CAD/JPY currency pair. The GCAD indicator is an Oscillator which can be found on MetaTrader 4 and many other charting solutions. Whats left to say? I am inclined to agree with randys statement Its CRAP as well as with the point made by Michael Hodges in regards to the fine work of sugar-coating indicators into fancy looking products, however I am still interested to get some feedback and comments from traders who are using or previously used any of the above products so we can get a precise idea of what kind of performance one might expect.
Binary options trading requires a system that can take into account the brokers entry/expiry times. Traders often miss out on many ideal trading opportunities when the signal services are sending them signals with an expiry thats not available on their trading platform. It is frustrating to receive a strong signal and realize you cant safely trade it. This is an issue that caused many signals services to fail, the inability to generate signals that match their clients platforms expiry times.
The Alternative Solution
There is one software I found to be ideal in its compatibility with binary options, the Option Bot 2.0 by Gary Davis. The software takes into consideration the different brokers entry/expiry times and provides traders with a software interface that enables live trading on multiple broker accounts for the purpose of always matching each OB2 signal with the ideal expiry, with an option to execute the trades automatically on multiple trading platforms.
The software generates signals based on their home-made, trend following formula, customized to analyse short-term movements for all the currency pairs offered on the binary options platforms. The Option Bot 2.0 is the only binary options software fully synced with multiple accounts and enables traders to enter positions simultaneously and automatically via one software.
The Option Bot software maintained its reputation over the years and became one of the leading and most viral software in the market. On a side note, instead of having to come up with new names and new faces like ITM Financial and other signals providers operating under different names, Gary Davis released a newly improved version of the same software, keeping the same name and the same brand 1000s of traders have grown to trust. My YouTube subscribers from back in 2012 would testify that I was very skeptical and ignored all the positive ratings and endorsements given to Gary Davis across the web and eventually I was proven wrong and can now testify that I owe a lot of my success in binary options to Gary Davis.
In one of my recent videos on YouTube I went over my ideal setting, trading hours and assets for the Option Bot 2.0
I am still not confident in my assumption that ITM Genesis Elite is a scam, perhaps its just a nicely wrapped product with no real substance or maybe its based on real indicators but doesnt meet the advertised performance. In order to properly evaluate ITM Genesis Elite, GCAD Indicator or any ITM Financial / BinaryInternational products I would love to get your feedback, comments and detailed experiences.
Please share your experience or comments below this post