Free Binarymag Trading Signals

Binarymag website has one great feature which many binary options traders would enjoy – free trading signals. Usually when something free is discussed, we tend to think of low quality products or services. But in this case such expectations aren’t true.

Free signals system provided by Binarymag looks very professional and well thought out. There’re no useless tools or data – only those things traders need to know: signals, their reliability and other important details. The beauty of this service is that it can be used by novice as well as experienced traders.

How to Trade Using Binarymag Signals

Binarymag offers detailed instructions on how to use their signals to trade binary options. But website visitors will be able to understand how the software works by themselves after just several minutes of testing it. Along with signals generated by the software, there are signals generated by users. The latter are available round the clock from Monday to Friday while software generated signals will be provided from 9:00 AM to 8:00 PM (GMT+3).

Basically, using the platform is simple and intuitive. It isn’t connected to a certain broker, and you’ll need to open your binary options account in a separate window to enter trades when signals appear. But you don’t have to constantly stay on the Binarymag web page to receive updates. Even if the page is minimized the service keeps informing you of new signals. You’ll hear notification sounds when it’s time to consider opening a new trade or you need to get ready for one.

The number of assets investors can choose from is limited. There are just a bit over a dozen of currency pairs including EUR/USD, USD/CAD, USD/JPY and AUD/USD. These are the most popular currency pairs so we assume the service will satisfy needs of the majority of traders. But as Binarymag administration warns, signals do not guarantee profits, and users need to decide themselves if they should enter a trade or not.

Signals Software

At the top of the platform there are three tabs to view current signals, history of signals and statistical data. Traders would probably be most interested in current signals. First thing you’ll see in this section is the list of possible signals. They aren’t used to immediately open trades, but rather to warn of possible trading opportunities which can appear in specified time period.

These preliminary notifications aren’t always turn into actual signals when the specified time approaches. They simply become irrelevant and aren’t presented to traders. When you see new notifications in the Current Signals section that means you can enter a trade, but you’ll need to be quick. Users get 25 seconds to make decision and take necessary actions. After 25 seconds expire, the signals are marked “in process” meaning that investors shouldn’t use them anymore as the system is waiting for the results – losses or profits.

When suggested expiration is over, results are published and signals appear in the history section. There you can see characteristics of latest signals and their accuracy. Look at the last four columns of the table. Green color indicates that a signal was accurate while red means traders would have lost their money.

Statistics section shows overall trading signals accuracy. The data is available for all types of underlying assets with different expiration. To calculate statistical data, the software uses all previous signals starting from the very first day the platform was launched, which is more than two years ago. Or you can view statistics for the previous day. This data helps investors understand reliability of the signals and whether or not they should be followed.

We would like to pay your attention to “candles”. Look at the platform and you’ll notice that almost everywhere it offers four columns named 1st candle, 2nd candle, 3rd and 4th. Here’s what they mean. If a trade was unsuccessful, the platform automatically enters another trade with similar characteristics. Second trade results are shown in “2nd candle” column. If the trade fails to bring profit again, the same trade is executed one more time. This time results are shown in “3rd candle” column. If third attempt fails as well, there’s just one more chance to finally get profit. Four losing trades in a row is the limit.

Initially this platform didn’t offer multiple candles. This feature was added later to assist those who use Martingale strategy to trade binary options. This strategy suggests investors should double the size of a trade after every loss. But because Martingale is an extremely risky method, the software limits maximum number of consecutive losing trades to four. After that investors have to return to initial trade size and follow another signal.

Personal Settings

To change settings, users need to register and log into their account. There they will have access to multiple settings including selection of a desired strategy. Strategy 1 is used to generate trading signals for binary options with 5-60 minute expiration. Both strategies 2 and 5 generate signals for 60 second options, but are based on different algorithms. Users will also be able to filter signals according to their reliability level, underlying assets and expiration period, change alert and some other settings. All these features are offered at absolutely no cost.

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