How To Find The Perfect Binary Signal Provider
The best Binary Signal Providers
by Signe J. Petersen New
If you are looking for a binary signal provider, you should take care to choose one that is perfect for you.
There are many things to consider and many traps to avoid. A good binary signal provider can help you earn a lot of money; a bad binary signal provider can end up costing you severe losses.
By reading this blog post and heeding the advice Im offering, you will be well prepared to find the perfect binary signal provider for you the one who can guide you to great profits!
Choose A Binary Signal Provider With Good Strike Rate
Binary signals are recommended trades generated by specially designed computer software packages. Because computers are much better at processing and analysis than people, this type of signals will often be much more reliable than the ones you could generate by reading price charts yourself.
But just as no two technical analysts are identical, no two computer programs are exactly the same. There are all sorts of binary signal providers out there. To choose the best one for you, consider the following:
Out of all these considerations the most important is the first. There is obviously no point in paying for signals if they are not going to result in a lot of winning trades. If you trade with a binary broker that offers a fair return per trade, that is to say more than 70% per trade, then you will make a very healthy profit indeed if you win 7 out of every 10 trades.
- Accuracy: make sure that the signal provider gets at least 70% of its recommended trades right
- Track records: good signal providers will offer proof of their accomplishments on their website. If no such documentation is readily available, tread carefully
- Assets: signal providers only follow a certain amount of assets. Make sure the assets you prefer to trade in are covered
- Risk: some signal providers specialize in high-risk or low-risk signals. Make sure you get signals that fit with your risk-level strategyz
- Number of signals: it is impossible to make large, long-term profits in binary options trading without completing a high volume of trades. The more signals a provider delivers, the better
- Price: you should not pay more than $100 per month for signals unless you are offered something truly amazing
Your Binary Signal Provider Should Have A Great Reputation
As in all other business segments there are some signal providers who are not to be trusted. They might promise you more than they can deliver, or they might simply not operate as advertised in myriad ways.
Fortunately, nowadays the internet makes it very difficult to run successful scams. Our advice is to always Google a signal provider you are considering. What sort of a reputation does it seem to have?
You can discount a lot of negative feedback most of it can stem from disgruntled traders who did bad trades and need someone to blame. But if a provider comes in for a lot of online criticism it might well be a case of no smoke without fire.
Other warning signs include very high advertised win percentages, or a lack of contact details. Basically, it is extraordinarily unlikely that a signal provider will achieve strike rates of more than 85%. Any provider who promises you that kind of performance is probably too good to be true. As for a lack of customer service representatives you can talk to, this is a very worrying sign. Why would a company not want to talk to their customers? Not promising.