What's Up guys, I'm new to binary option trading. I've lost $60 in the past 2 weeks which is all of my deposits. I was up and then the charts changed last minute on a large bet sadly lol. Anyways I'm writing in regards to the signals/ robots. I'm clueless to what they do or how they really help. I want to invest in one if they actually help. I'm starting my own company at 22 years old and every dollar counts! If you have any feed back it would be greatly appreciated ! Thanks
First regarding your losses. Be glad, you only lost 60 and not 60,000 before realizing you need to stop and learn. Trust me, lots of people lose way more than they afford before they understand this.
Secondly, FORGET robots! ALL are designed to make you lose and win money for the brokers. Also, people just cannot program working robots, it's not doable. They are fake, they are scams, they have no evidence of success other than lies and fake testimonials and photoshopped numbers. Forget Robots!
Now, regarding signals. In my opinion (I have been trading since 2013 and run my own Skype group too) I am going to be honest: No one should ONLY follow signals. You need to also learn, it will increase your chances of success. Therefore, you need more than just signals, you need a good mentor.
You can read my answer here in this thread on how to find a good mentor that is verified:
Finding a good mentor
Also, do not use money you can't afford to lose. If it's too tight at the moment, try later when you have a better income.
One of my students made over 3K with just a 10€ deposit but of course, he also lost it because of a crazy money management. I know, you won't believe me so here is his post on Skype:
It's amazing! So at the end of the day, the message is, you need to control yourself. This guy learned how to trade yet messed it up because of poor money management. Even signals can't help you with that. If you look for quick cash you gonna get burned.
So take a step back. Try to understand the business, learn and learn more. Forums are good, you will find like-minded and helpful people but beware of promises of quick cash. Most of these signal services are not transparent and when you google them all you find is people getting ripped off. So get some education! Read some of our guides to get started.
By the way, what company you starting? What do you do?
My company Glassladder&co sells items for working women who want a stylish and productive office items. We are in our pre launch phase currently and are waiting to launch the company this summer since we are still fundraising to reach our goal for product cost. We have three key items we plan to launch with so far. Give the web site a look and let me know what you think my friend !
Seems you have specific niche. That could be a good thing.
Good luck with that!
If we may add some of our own experience to this discussion (since engineering Robots is 50% of what we do for years now).
We have a range of data and stats to prove that Robots do work over time, just that they need to be engineered by financial engineers and statisticians, not affiliate marketers turned traders. Whether its Dive or Sake Turbo, both robots that caused the Binary.com incident (not once but twice now where this broker had to switch off their API at key hours to avoid further losses on their balance sheet) in 2016 and 2017, or Peak, which continues to outperform the markets, Robots can trade as well as humans. All of these are in Signal Hive. There may be others outside of the Hive that work, feel free to send them to us for a rigorous 14 year-back and 3 month forward test; we are happy to share the results.
The problem in Binary Options is false and misleading knowledge and that most affiliate products used by bucketshop brokers are sold as working robots or working auto-traders, so this gives real robots a bad rep.
Please don't forget a fact; 80% of the FX non-retail market is simple to highly complex non-linear algorithms that speculate trade, program trade and arb-trade 24/7. These are of course robots created by the quant.desks at major investment banks like Goldman/JP, but they are still robots.
So Robots do work, you just need to look hard to find them.