South African traders have quickly realised the fantastic potential of trading binaries using trading software such as Binary Options Robot.
In fact, this is easily one of the best products of its kind currently available on the market.
Yet, simply opting to use a fantastic trading software is not a guarantee that South Africans will make profits. No matter how good the trading algorithm is, there is more to it.
The key is in Binary Options Robot preferences and how to set them properly.
In this guide, all interested South African traders can find relevant info on how to set Binary Options Robot preferences and embark on a profitable trading journey.
How to Start Trading with Binary Options Robot?
To start using this unique trading software, South Africans first need to register with Binary Options Robot. This is completely free, just like the Robot itself.
Added benefit is that there is no need to download this software either.
Traders just need to provide few basic info and then make the deposit with one of the brokers connected with Binary Options Robot. South Africans need to be aware that they do not deposit with Binary Options Robot.
They will instead be redirected to the binary broker platform where they will make the deposit and after that, they can return to the Robot dashboard.
Dashboard Preferences on Binary Options Robot
The first step toward profitable trading journey on Binary Options Robot is adjusting the dashboard preferences. Inexperienced traders might not be aware just how important that is, especially since preferences directly impact the number of generated binary signals.
We advise South African traders to first activate underlying assets. The list of underlying assets can be found in More Settings under Robot Settings Tab. Traders have more than 50 underlying assets available.
Traders have more than 50 underlying assets available.
The number of activated underlying assets directly influences the number of generated binary signals. It is important to know that keeping most, or all underlying assets active costs nothing.
Many newbie traders make a typical mistake of keeping only a few activated assets.
Sadly, this is not likely to bring in the enviable profits.
Daily Stop Loss and Max Daily Trades
Next step in setting Binary Options Robot preferences is to get familiar with Max Daily Trades and Daily Stop Loss.
With Max Daily Trades, traders can easily adjust the number of trades which should be done on daily basis. Once the set number is reached, the trading will stop.
This further helps in minimising the risk of monetary loss.
Another fantastic feature which has been designed with traders in mind is the Daily Stop Loss.
In adjusting this preference, South African traders get to enter specific funds which they want to be used in the daily trading process. Again, once that amount is reached, the trading will cease. This way traders are in control and they can manage their account and the trading process.
There is another preference which traders ought to adjust – Trading Amount Settings.
This allows South Africans to be specific when it comes to how much they want to invest in specific underlying assets.
With Binary Options Robot three categories are available – currency pairs, stocks and commodities. With this preference, traders can choose different trading amounts for different underlying assets.
The majority of brokers have a minimum investment set at $25.
Binary Options Robot VIP Features
In a manner of speaking, the crowning glory of Binary Options Robot is its VIP account.
This unique account is available to traders after they make the deposit with one or more connected binary brokers. However, there is no need to pay extra to use it.
Basically, South African traders get to use VIP account for free for a month. Once they make the deposit, South Africans simply need to contact the Robot customer support and request VIP account activation.
The great news is that the next deposit South Africans make will give them three more months of VIP account usage.
Adjusting the preferences in the VIP account is the final step. Binary Options Robot VIP account has three distinct features – Risk Level, Trading Strategies and Expiry Times.
It is completely up to traders how they wish to set the trading preferences. Most new traders opt to set the risk on low, which is completely understandable.
However, lowest risk also means fewer profits.
Yet, Binary Options Robot has four risk levels available and with time traders get to adjust that.
In Trading Strategies, South Africans will find five choices. They can activate as many strategies as they want, as each contributes to the overall trading results.
Finally, in Expiry Times, traders get to choose among short expiry times like 60 seconds or longer expiry times.
With short expiry times the risk is greater, but so are the profits.
Auto Trade Approval – Ultimate Trader Control
Since the very first time this trading software appeared on the market it stood apart from the rest. From the unique preferences it offers, to their free VIP account with its features.
But, there is another significant detail which makes Binary Options Robot so attractive to numerous South African traders who wish to use software rather than manual trading.
The level of control traders get with Binary Options Robot is unprecedented.
This binary trading software has a special trading benefit – Auto Trade Approval.
Binary Options Robot software uses advanced trading algorithms to scan the market and, according to that and set preferences, generates binary signals which stand the most chance of being successful. Yet, this software will not simply begin trading without additional traders’ impute.
In fact, this software will not trade unless traders are online. Nor will it carry out trades without explicit approval from traders.
How is that possible?
It is because the Auto Trade Approval is a specific way of accepting generated signals.
South Africans who decide to use Binary Options Robot to trade binaries will receive trading signals via pop-up window.
There, they will get info about the underlying asset, the investment value, the binary broker and call/put option. But, traders will also have to either accept or decline this suggested signal.
This means traders are running the show.
Yes, the Robot does most of the heavy lifting, leaving more free time for traders as there is no need to constantly monitor the market or ponder which broker to select, which trade option to use…
But, the last word belongs to the trades as does the control over the trading process.
In understanding how to set the Binary Options Robot preferences and combining that with the ultimate control over what happens, South Africans could be on the path to profitable binary options trading experience.