I'm about to start and have newbie questions

Hi all,

I am new to all this. I have been doing some research and am looking at opening an account through option Robot with Stockpair.

I live in Australia.

I will not go into it real big. I plan to deposit $500 USD only and make $20 trades through Option Robot in the Classic Configuration.

thing is, I am still pretty scared of all this. I have been reading a lot of negative material on the net about BUYER BEWARE or other SCAM sites. I know the industry is rife with scam operators and I just don't want to be a victim.

So I have some questions:
1) Is Option robot safe?
2) Is Stockpair one of the good brokers?

My research so far seems to indicate yes.

Also, with Stockpair, are there tools which will actually teach me how to trade on my own by looking at the fundamentals without relying on Option Robot all the time.

The Broker told me that this is dangerous because the Option robot claims an 83% success rate. is this even accurate because it sounds too good to be true?

Comments

  • Blue Sky BinaryBlue Sky Binary Posts: 156 ✭✭
    edited April 26
    Hello, welcome to the forum.

    1) Option Robot is not safe at all.

    2) Stockpair has an average reputation and is better than many but there are better brokers now. Stockpair has a history of locking out clients who win too much based on feedback in our education community.

    If Stock Pair has told you to listen to Option Robot's investment advice, that is a major warning sign as it is not a 83% robot, its a 50% ITM robot, designed to gradually deplete your account.

    Working robots exist, we have manufactured quite a few with a happy clientele, but they are never created by affiliates or brokers themselves. Option Robot is created by a known affiliate marketer.

    Team Blue Sky Binary
    Blue Sky Binary - Research, Education & Technology. Signal Hive - The No.1 Binary Signals Marketplace.

    image

  • MouflonMouflon Posts: 15
    edited April 26
    OK that is great information. And thank you for the welcome.

    I was taking their claims with a pinch of salt, because 83% sounded just ridiculous and unrealistic to me. I really appreciate the information.

    So now, stockpair and option Robot are off the radar. 50% win ratio means a loss.

    So now I have to find another Broker and another Robot.

    I would prefer a Robot with learning tools too, graphs so that I can learn to trade.

    And an option robot with a 60% to 80% success rate if that is possible? It probably isn't as I take it that you really need to do the hard yards and learn to trade. Which is what I would like to do. So an option Robot that has a success rate which helps me stay afloat and not lose money is probably a more realistic expectation (hopefully).

    Can anyone recommend which traders are the best and which robot I should be using?
  • Blue Sky BinaryBlue Sky Binary Posts: 156 ✭✭
    Hello Mouflon,

    If you are looking for assisted trading, which means robots which act as indicators to find you profitable chart setups, then you can try our Dashboard http://www.blueskybinary.com/dashboard.html It is used by around 800 traders across the world at present.

    If you are looking for semi-automated robotic trading where a signal is fired and you decide if you wish to take it by 1 click, then you can try Signal Hive (www.signalhive.com), we have a range of profitable robots (albeit low volume ones) there such as Peak, Wave, Dive and others. They have over 1 year actual client-execution track records.

    We suggest either route depending on how much time you have committed to trading. Most of our students opt for the first option as ultimately, there is no substitute for learning how to trade.

    Kind regards,
    Team BSB
    Blue Sky Binary - Research, Education & Technology. Signal Hive - The No.1 Binary Signals Marketplace.

    image

  • MouflonMouflon Posts: 15
    thanks again for the information. both products look interesting. I will need to look into both.

    Can I ask what the "in the money" ratio is for Signal hive?

    From what I see, signal hive are not making outrageous claims of 83% win ratio.
  • Blue Sky BinaryBlue Sky Binary Posts: 156 ✭✭
    Hi Mouflon,

    We are the most data-driven and transparent company in Binary Options possibly by a mile (owing mainly to a range of scam in the industry driven by opinionated charlatans that can't really trade).

    Over our years of research both into algorithms and human traders (we have had over 100 audition inside Signal Hive), we see that a realistic human signal ITM ratio is 60-65% over time. There will be variance in that some traders may achieve 70-80% for a few weeks, but over time as sample size effects kick in, you will see no human can sustain over 60-65%, which itself is very good and well profitable.

    As for robotics, its a different story, as there is no emotion involved, we typically see (across thousands of signals, so our data set is representative) that robots can outperform human traders by 10% ratio. Our best robots are delivering 70-75% ITM for a few years now, our higher variance ones, 55-65%.

    83% is an outrageous, scam claim. Remember, in order for something to becoming statistically relevant, you need atleast 180 observations. There are micro and macro cycles in the market. Our extensive backtesting in both BO and FX shows that strategies that may work for 3, even 6 months and in some instances, even a year, can fall apart when played out over a multi-year period.

    Team BSB
    Blue Sky Binary - Research, Education & Technology. Signal Hive - The No.1 Binary Signals Marketplace.

    image

  • MouflonMouflon Posts: 15
    OK understood. you mention the best robots achieving 70 to 75%. Even 70% is phenomenal. I would even be happy with 65%.

    Which robot are you referring to? I would be keen to becoming a customer of this robot.

    In addition, the Signal hive is attractive too. I notice that there are fees to using Signal Hive. My understanding is that it portrays human and robotic signals and that it is up to us whether we wish to trade by 1 click? And on top of it all, it comes with all the tools of the trade to learn.

    At the moment, I don't have a lot of time, and learning how to trade properly I presume will be a long term project for me over time. My main aim right now is to start trading with the assistance of a robot. I accept that 83% is outrageous. I did try their DEMO auto robot and it was achieving great results, but my understanding is that DEMO is rigged to make it look better than it really is.

    So in effect,

    1) what do you have in terms of an auto robot?
    2) how much would it cost to use it?
    3) and which brokers should I look at for opening an account if not Stockpair?

    Regards
  • MouflonMouflon Posts: 15
    edited April 26
    Also, has anyone heard of HighLow? Seems to be regulated in Australia which is a plus.

    Are they good? Are they better than Stockpair?
  • Blue Sky BinaryBlue Sky Binary Posts: 156 ✭✭
    Mouflon said:

    OK understood. you mention the best robots achieving 70 to 75%. Even 70% is phenomenal. I would even be happy with 65%.

    Which robot are you referring to? I would be keen to becoming a customer of this robot.

    In addition, the Signal hive is attractive too. I notice that there are fees to using Signal Hive. My understanding is that it portrays human and robotic signals and that it is up to us whether we wish to trade by 1 click? And on top of it all, it comes with all the tools of the trade to learn.

    At the moment, I don't have a lot of time, and learning how to trade properly I presume will be a long term project for me over time. My main aim right now is to start trading with the assistance of a robot. I accept that 83% is outrageous. I did try their DEMO auto robot and it was achieving great results, but my understanding is that DEMO is rigged to make it look better than it really is.

    So in effect,

    1) what do you have in terms of an auto robot?
    2) how much would it cost to use it?
    3) and which brokers should I look at for opening an account if not Stockpair?

    Regards

    Hello Mouflon,

    Signal Hive does not come with trading tools to learn how to trade, what you are referring to is the Dashboard. They are two separate products.

    In answer to your 3 questions:

    1) There is a range of robotic signals on Signal Hive. Please login and view their performance in Hybrid >> Analytics section. We have data since mid 2015 (so, around 2 years). You can pick the ones you like the most from a winrate and volume perspective.

    2) $49.99 per month (we have a 1 week free trial and you can hook it up on demo account first to test it out)

    3) The only broker at present that is integrated is Binary.com as they have a rich API that allows systems like ours to connect. The stockpair API is invalid and they actively close accounts of clients who win "too much".

    Team BSB
    Blue Sky Binary - Research, Education & Technology. Signal Hive - The No.1 Binary Signals Marketplace.

    image

  • MouflonMouflon Posts: 15

    Mouflon said:

    OK understood. you mention the best robots achieving 70 to 75%. Even 70% is phenomenal. I would even be happy with 65%.

    Which robot are you referring to? I would be keen to becoming a customer of this robot.

    In addition, the Signal hive is attractive too. I notice that there are fees to using Signal Hive. My understanding is that it portrays human and robotic signals and that it is up to us whether we wish to trade by 1 click? And on top of it all, it comes with all the tools of the trade to learn.

    At the moment, I don't have a lot of time, and learning how to trade properly I presume will be a long term project for me over time. My main aim right now is to start trading with the assistance of a robot. I accept that 83% is outrageous. I did try their DEMO auto robot and it was achieving great results, but my understanding is that DEMO is rigged to make it look better than it really is.

    So in effect,

    1) what do you have in terms of an auto robot?
    2) how much would it cost to use it?
    3) and which brokers should I look at for opening an account if not Stockpair?

    Regards

    Hello Mouflon,

    Signal Hive does not come with trading tools to learn how to trade, what you are referring to is the Dashboard. They are two separate products.

    In answer to your 3 questions:

    1) There is a range of robotic signals on Signal Hive. Please login and view their performance in Hybrid >> Analytics section. We have data since mid 2015 (so, around 2 years). You can pick the ones you like the most from a winrate and volume perspective.

    2) $49.99 per month (we have a 1 week free trial and you can hook it up on demo account first to test it out)

    3) The only broker at present that is integrated is Binary.com as they have a rich API that allows systems like ours to connect. The stockpair API is invalid and they actively close accounts of clients who win "too much".

    Team BSB
    OK I logged in as Guest and whent to HYBRID>ANALYTICS.

    I found some interesting things there.

    Peak Robot claims an 81.3% and 85.7% success rate for their signals from 01Jan17 to 21April17.

    Maverick claims a success rate of 66.7% and 86.7% for their signals from 01Jan17 to 21 April17.

    Those 2 robots are claiming phenomenal results.

    The remainder or quite ordinary and most are 55% or even below 50%. Some claiming 60%.

    now is this accurate for Peak? If they claim 85% then how is that different to Option Robot? I'm not actually saying its false. I actually am hoping its not. In which case, sign me up. lol
  • OkaneOkane Posts: 942 admin
    OptionsRobot is another one of these whitelabel robots. There are websites now that offer robots to brokers and affiliates. These
    people can then rebrand the robot and create a new website and sell it to make money off of your deposits to brokers. So that robot
    won't make you any money. Neither will any of robots out there with fake results and fake testimonials and fake reviews.

    BSB above is different. You can see their statistics and their results and they also have real traders.
  • MouflonMouflon Posts: 15
    Okane said:

    OptionsRobot is another one of these whitelabel robots. There are websites now that offer robots to brokers and affiliates. These
    people can then rebrand the robot and create a new website and sell it to make money off of your deposits to brokers. So that robot
    won't make you any money. Neither will any of robots out there with fake results and fake testimonials and fake reviews.

    BSB above is different. You can see their statistics and their results and they also have real traders.

    I am actually seeing this. i am looking at their website and trying to make heads and tails from it.

    It's not easy to understand or work out. I wish they had a DEMO mode where I can actually start with pretend money and just test the software out and work out a strategy for myself and well to learn. But they don't.

    My understanding is that I have to sign up but I get 1 week free, which isn't enough to learn and strategize.

    I do like to be thorough with my research and decisions. Especially when it comes to Binary options.

    But, they do appear to be very transparent. They also appear to provide a dashboard at a cost to learn everything.

    But I think I will need to watch a lot of YouTubes and maybe even seek out guidance here.
  • OkaneOkane Posts: 942 admin
    Sure, never wrong to do research.
    Even if you wish to copy trades or get signals, I strongly recommend that you also learn as much as possible about trading in general.

    Just be careful with YouTube. You will find 99% of channels just promoting nonsense strategies to get you to sign up with brokers (IQOption specially right now...) and also the people who will first tell you one robot is a scam then offer their own robot they are affiliated with. The overall conclusion is that there is no "easy money" in this business. You must learn how to trade. I would recommend you look for price action.
  • MouflonMouflon Posts: 15
    Okane said:

    Sure, never wrong to do research.
    Even if you wish to copy trades or get signals, I strongly recommend that you also learn as much as possible about trading in general.

    Just be careful with YouTube. You will find 99% of channels just promoting nonsense strategies to get you to sign up with brokers (IQOption specially right now...) and also the people who will first tell you one robot is a scam then offer their own robot they are affiliated with. The overall conclusion is that there is no "easy money" in this business. You must learn how to trade. I would recommend you look for price action.

    Look for price action? What does this mean?

    Oh yeh, the internet is rife with operators trying to push a particular robot they are affiliated. then you go to so many sites which appear to have legitimate reviews but the reviews are anything but truthful or honest. I guess YouTube will be no different. probably get 100 bogus video for every good one that is our there.

    It really makes this industry difficult to follow and it gives it a bad name.

    So where does a newbie like me go for good, honest and reliable information?
  • OkaneOkane Posts: 942 admin
    edited April 26
    The forums are your best bet, BinaryOptions.net (here) and CommuniTraders are two good forums. Why?
    Because people can write here freely on their experiences and because we remove spammers and obvious scammers the soon as we notice them.

    Beware! There are fake forums out there too! There are forums specially made too fool traders. The soon as their recommended product backfires you find out that you no longer can post in that "forum".
    But here you get to meet other traders too see what they have to say.

    I meant if you look on YouTube, look for price action education not "get rich fast strategies".
    I do post such videos and live webinars myself, don't wish to promote myself here but you can find that in my trading journal here.
  • MouflonMouflon Posts: 15
    OK that is fantastic and I will be checking out your web journal.

    I will only watch your YouTubes, because sometimes it is hard finding genuine and truthful material.

    If the scammers are going to the lengths of opening their own forums, and then ban you once they clean your account out, beggars belief. These people ruin lives I am sure.

    I had my suspicions about option Robot and their claim of 83%. So I decided that I was going to deposit $250 or $500 and if I lose all that money, never deposit again. So they wouldn't have done that much damage to me, but it would still leave a sour taste in the mouth.

    You're right. There is no easy money to be made. It's never easy. Wish it was though.

    I'm going to look at your webinars.

    I think this forum is a good place to start as well. And I wonder if there are any traders here that live close to me, and if they would be willing to show me how this software works and help me with working out a strategy. Signal Hive doesn't seem conducive to experimenting and doing this which I don't like.

    But they are reputable and not a scam which is great.
  • The_Geek_MHThe_Geek_MH Posts: 444 mod
    Ok, looks like you got set on the right track by Okane. Best to avoid robots, best to trade for yourself. If you want someone to do it for you better get an investment advisor and let them get you into real stocks.
  • SkippySkippy Posts: 1
    Hi all,

    Just like Moulfoln I am new to the world of binary options trading and attempting to navigate the scam riddled industry out there.
    The more I read the easier it is getting to spot the obvious scams but it is very concerning how sophisticated the scam business is!

    I also live in Australia.

    I have found this forum (particularly this thread) to be the most useful information I have found so far.

    For me, I like the concept of the services that Blue Sky Binary offer with an emphasis on trader education.
    I don't intend to reach the heights of a professional trader but want to learn how to confindently identify successful trades, even if starting out with the assistance of signals.
    It also makes sense to me to pay a subscription for signals, robot or human, as is offered by Signal Hive. It would seem that you get what you pay for with the "Free" robots out there!

    As someone who intends to trade part time (I have a full time job) of an evening, I'm curious about using the Signal Hive semi-automated robot during work hours when I would generally not have access to the market. Auto trade robots make me nervous... Anybody have feedback on this service?

    Mouflon would you be happy to share your experience since your last post in terms of useful education and broker selection?




  • bsbZenbsbZen Posts: 84
    Hello everyone,

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    Kind Regards,

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    blueskybinary.com
  • BossBoss Posts: 28
    I could immediately tel it was a newbie's question. No experienced trader would ever entrust money to a robot. Unless you've coded it yourself and you are 100% sure in its work.
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