There are many forms of binary options software on the market today. Not a single one claims to be a losing system and this one is no different. What is different is that it may actually be worth checking out, if you feel like spending the $67. They, at least, have a very high opinion of themselves because they claim the Bullet is “The only proven binary options software on the market and the only one that can be trusted”. As I have said before, I will be the judge of that. Again, unlike most of the rest of them, Binary Options Bullet does not appear to be an affiliate marketing scheme. They do recommend a broker, and suggest you deposit money even if you are only planning to demo trade, but joining their broker is not a requirement. The only thing required of your broker is for it to provide 15 minute, one hour and/or end of day binary options.
The Binary Options Bullet is a software based signal service provider. After purchase you download the package and attach it to your MT4 chart package. Then the system takes over and provides signals using the hourly and daily chart time frames. The system only trades three assets, the USD/JPY, EUR/JPY and gold which I think is a good sign because these three markets are intertwined. I think the 70-90% success rate is more believable because there is just no way any single automated system can perform that well across all assets. The system generates on average 1-3 trades per day depending on the asset and market conditions. You are responsible for choosing which trades to take but they make it easier for you with email alerts.
Active traders can choose between the hourly or the daily charts. Each chart will provide short term and long term signals. On the hourly chart a short term signal would be a 15 minute to one hour expiry while a long term signal would likely have an end of day expiry. For the daily chart short term signals are typically going to be end of day. It is possible to adjust the system as well. You can turn off or change the filters in order to pick up more signals but that will lower the success rates. One filter they use is time periods. Each asset is only traded during peak market hours but this filter can be adjusted along with others. In addition to the adjustments there is also a members area on the website for extra support and to receive free updates for life.
Pros Of The Binary Options Bullet
There are indeed some pros to this trading software. First, it is using hourly and daily signals. Just about every scammy binary options software, signal or other service provider is aimed at trading the most risky of all binary options, the 60 Second trade. This is, to me at least, a sign that maybe, just maybe, the software is on the up and up. Adding to that impression are the assets traded. This system only trades 3 very specific assets according to a set plan, not a basket of assets at whim as so many other ssp’s are prone to do. Using the software is also very easy. Set is easy, simply download and follow instructions for pasting code into your MT4 platform just like you would for any other add-on. The signals are generated automatically during preset hours and the signals are printed right on your screen.
Cons Of The Binary Options Bullet
Of course there are some negatives to consider as well. First, this is an automated system. I never recommend blindly following an automated system, I recommend learning to trade and building your own system. Second, there is no mention of what you have to do to ensure you make the 70-90% return. Just because each trade has a predetermined success probability doesn’t mean they all will win. If you only make some of their trades as the website suggests you are opening yourself up to possibility of catastrophic losses because there is no way to know if you are taking the good trades of the bad trades.
My Final Thoughts On The Binary Options Bullet
The Bullet is an interesting piece of software. I cannot recommend that you blindly take these signals but they may be a handy signal when used with other analysis. The cost is low, no more than you might pay to buy a custom indicator, and a drop in the bucket if it can actually help you make more profitable trades. My suggestion; use your own analysis and then confirm with signals provided by the Bullet, or vice versa. What I mean is, the Bullet could be used as part of a set of tools in the arsenal of a successful day trader.