Date:Thu Nov 21 2024Tokyo:5:15Sydney:7:15New York:15:15London:20:15CET:21:15
BinaryOptions.net Forums› Signals/Robots/Autotraders etc
Best IQ Option Bot?
costmo
Posts: 2 ✭
Posts: 2 ✭
I've been using IQ Options for a while now, and I just got into testing their user-created bots. It seems like a genius idea from such a reputable platform. There's a problem with them though (or maybe with me): I can't seem to find any that produce more than 50% profitable deals in the long run. And I have tested dozens of them coming from the "most profitable" list.
Sure, there are ways of increasing profits with management strategies (all use martingale), but they're just not that good in the long run and with less money in the account. Those $1k draws scare the crap out of me. What's more, I'll create a bot with one of the strategies I successfully employ on my own as a robot, and I can't get the profitable trades above 50% using the "historical data" tests.
I have one bot that I set up on a practice account, and has successfully earned me $10k (fake money) using only $1 bets in a week, but I added up the wins, losses and ties, and it's only making about 49% + martingale. Why not just flip a coin?
Has anyone seen a bot that can get better than a 50% success rate and/or profits without using martingale?
Sure, there are ways of increasing profits with management strategies (all use martingale), but they're just not that good in the long run and with less money in the account. Those $1k draws scare the crap out of me. What's more, I'll create a bot with one of the strategies I successfully employ on my own as a robot, and I can't get the profitable trades above 50% using the "historical data" tests.
I have one bot that I set up on a practice account, and has successfully earned me $10k (fake money) using only $1 bets in a week, but I added up the wins, losses and ties, and it's only making about 49% + martingale. Why not just flip a coin?
Has anyone seen a bot that can get better than a 50% success rate and/or profits without using martingale?
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Comments
in forums trying to convince noobs how great their robot is. lol
Try building your own robot on the IQ platform, but I just had a conversation with my dedicated VIP account manager this week about their shitty robot platform. I have a Private Investment Company, we trade with FX and Equity options and as we are really into Binary options for a while now we wanted to automate some of our strategies that we know, work. As their robot platform is drag and drop, its sucks. I would prefer to code a strategy myself. I even tried to recreate a strategy we use for a long time which has a 70% ITM ratio, the IQ Bot platform showed significant losses, while I have real data to back up very very decent profits.
People just need to pull their heads out of their behinds and realize there is nothing in it for a broker (any broker ever) to provide you with an automated and working autotrader. If they would, then they might as well say: here take all our money no need to trade at all and then would have to close shop. Besides, I can tell you with 99% certainty you are not gonna be able to code a working autotrader. Good luck wasting your times on autotraders! Backtesting and demo is far different from reality. In Forex, an autotrader might have (just slightly) better outcome due to lack of expiry selection but on Binaries, forget it. I have known so many people going down that road only to give up.
I didn't say it was bad for them to provide robots, I said it is bad for them to provide winning/working robots.
That whole "we make money on volume" is not entirely true. The money is made through losses which means
the more you trade the more you are likely to lose and FASTER if you are not a trader.
But again, I didn't say it's bad to provide a robot, I said it's shooting yourself in the foot as a broker to provide
a WORKING one = meaning something that makes people money.
A brokers who make money on turnover like IQoption for example makes 7.5% on turnover. If your account turnover is €10K a month, they make €750 on you every month. Also a broker that only speculates on you just to lose your deposit, they take a huge risk, as they dont hedge or reduce their exposure by seeking liquidity from market makers. This is the main reason some no name brokers go out of business.
This is the model that all brokers should follow (if they wanna stay in business long term) :
I wasn't arguing whether the model was not good or bad so you are correct that
brokers who need to stay in business long term need to focus on the long term volume and to keep
the customers happy and pay out without hassle instead of trying to make you lose your first deposit. Like 24Option for example and that's
why I like them.
But again, the brokers make money on your losses and people should always remember that and therefore, never listen to account managers, don't use broker signals, don't use autotraders and do their own studies - good or bad broker. The "we make money on your volume" is just a better business model but in the end, their money comes from our pockets = from losses and that's just a way to sugarcoat it.
thank you