Build Your Own Binary Options Robot
IQOptions has blown the world of binary options robots wide open. Their newest innovation, IQ Robots, is the latest development in automated binary options trading and the new industry standard. The feature allows live and demo account holders to choose from a vast library of user generated robots or create their own robot using the easy robot building tool. The best part is that you don’t even have to know how to write programming code, all you need to to do is use the handy robot building tool. If you want to trade using top rated robots from real traders, or want to automate your own strategy, this is definitely the tool for you.
What Is The IQ Options Robots Feature
IQ Options Robots feature is a binary options auto-trading feature that goes beyond what anybody else has offered to date. The feature allows members to build their own trading robots and then use them to trade the IQOption platform. Anyone with a well defined strategy using industry standard indicators can set up the platform to automate it, and then save it in a file where others can follow it. To date, there are over 29,000 robots already built and as an added attraction you can choose from among them if you don’t want to build your own. Let me be clear, this is not copy trading, you are not copying other traders. This is automated, algorithmic trading from a respected broker.
To use the feature will require an IQOption account, the great news is that you can test it using the demo account. Once you’re logged in click on the Robots tab to begin automating your experience. The first choice you have is to use an existing robot or build your own. If you choose to use an existing robot you will be able to browse the catalog and pick based on a number of criteria. These include the number of copiers, amount of profit in dollars and percent, maximum draw-down and author of the robot among others. Hint, take note of the authors of good robots and robots you like then track any new robots they write looking for the next gem.
If you choose to write your own robot you have two choices, use the Wizard or the Constructor. The Wizard is a step by step guide to creating robots which takes you though each step on at a time. The Constructor is for traders who are familiar with the system and want to write customized robots without the Wizard. In either case algorithms are set up using a flow chart and simple drag-and-drop feature. Along the way you will be able to choose from a list of the widely used indicators, adjust their settings to your strategy, set rules for entry and risk management. Indicators and analysis include candlestick/price action, RSI, stochastic, MACD, moving averages and Bollinger Bands ™, all with adjustable settings.
Risk management tools include 4 methods of controlling the amount of money you risk on each trade. Yes, there is a Martingale setting but I don’t recommend using it. The other 3 are Percent of Balance (recommended), Reinvest Profit (OK), Fixed Amount (OK). The Percent of Balance will use a set percent of your balance on each trade which is perfect for binary options. Reinvest profits gives a declining trade size because the profits on each trade are smaller than the trade amount, OK but not the best choice. Fixed Volume is also OK, but does not take advantage of adjusting trade size to your account so that risk/reward changes in sync with your balance.
IQOption Robots Feature; Can It Be A Scam?
There is a small possibility this is a scam, it is after all an auto-trading feature offered by a broker and therefore suspicious by association. That being said, IQOption has proven to be a trustworthy broker, they are CySEC regulated, so as long as you use caution it is probably not a scam. Bottom line, I think I might stay away from the already created robots just for safety and my personal choice. As for the ability to build my own robot, that is pretty appealing and definitely worth trying out. Don’t go and blow your whole wad trading this way, and don’t just turn it on and forget about it, but if you have any interest in creating and using an automated strategy this is the place to do it.
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