Algobit, reviews of which differ among different traders, acts as an assistant in trading and at the same time is an innovative analytical tool. He is engaged in the search for highly volatile assets in the market at any given time. It signals the appearance of a trend that is just beginning to take shape.
If you believe the product’s advertising, Algobit helps even beginners make money on binary options. Just following the signals, you can safely accumulate profits from day to day.
Creators about their creation
According to the developers, the main advantage of the program is that it is the first to provide the user with profit signals that indicate the beginning of a trend within the current market situation.
Algobit, reviews of which in most cases are positive due to the active work of the project partners, is considered to be a revolutionary product in the commercial and financial sectors. The program has won two awards: “Best Product in 2012, Financial InnovationAwards (FI A)” and “Best Innovative Technology in 2012”. According to the creators of the innovation, the program is capable of determining the future trend direction with a probability of up to 99%.
It is widely believed that the creators over-praise their product, and the real probability of an accurate forecast remains in the range from 80 to 85%. Too much to believe in figures from advertising, especially in trading on the foreign exchange market, is not worth it. Moreover, the reviews of professional traders often leave much to be desired about the Algobit program.
Myth or reality
If you believe all the information about the program, then with its help you can not even consider the situation on the market yourself. Just follow the adverts. Professional market participants, by virtue of their experience, warn newcomers that not a single automated program will provide a stable profit. Although it is able to find long-term and short-term trends, its effectiveness leaves much to be desired.
Professional traders emphasize that the use of the Algobit system, reviews of which the creator and partners provided the best, will not allow you to earn money without using your own skills and without analyzing the situation. Dry adherence to any adviser is the first step towards draining your own deposit.
Signal sensitivity - time to beware
Quite often, reviews can be found negative about the Algobit program. The emphasis in them is on such a quality of the adviser as sensitivity. The specifics of the functioning of this part of the software are kept secret by the creators. Experienced traders have long figured out this trick. The bottom line is that the more sensitive the system responds to market changes, the more often it gives false signals. The abundance of weak signals in the market and trading on them do not always end well for the trader. Experience suggests that the signals from any adviser should be carefully filtered, taking into account only the strongest ones in the trade, including those confirmed by other patterns and program indicators.
All the subtleties of trading with the program
For successful trading on the market, you must be clearly able to determine the following points:
- Market entry point.
- The optimal position size.
- The most favorable moment to close the deal.
The optimal position size is calculated using fairly accurate formulas and has a clear relationship with the size of the deposit. Determining entry points to and exit from the market is exactly what causes the problems for most newcomers to trading.
In accordance with the advertisement, OptionBit broker has developed a completely free program that helps solve two of the most difficult issues in trading. The Algobit program, which is presented in the best light on the Internet, works on the basis of algorithms that show the moments of the emergence of trends. The doubt is already caused by the fact that collateral does not require a purchase, and, as you know, it is not profitable for brokers when all their clients trade in plus. Moreover, there are interesting statistics, according to which only 2–3% of trading participants make a profit. The rest are losing. Inconsistency with the common truth of the foreign exchange market makes one think.
There is no magic adviser
Experienced market participants who trade with you are well aware that there is no one single successful strategy or a perfectly working adviser. Attracting the attention of newcomers, “Algobit”, the feedback from traders about which as a result of its testing is often acutely negative, is not able to replace manual trading. Although the creators say 99% of the effectiveness of the tool, in reality it does not give out 65%.
After preliminary testing, one of the traders recorded the effectiveness of the signals from the program at 52%, which is not even enough just to keep your deposit. Any trade on the market, including binary options, is hard and painstaking work that needs to be taken very seriously.
“Algobit”, according to traders, may turn out to be a great addition to a proven trading strategy, but it is not capable of speaking in the format of the only tool for analyzing the situation. Market capriciousness cannot be correctly evaluated by the program.
Simplicity of the signal is not the key to success
The Algobit program, negative reviews about which are much less common than positive ones, is very easy to use, which attracts many newcomers to the trade. On the left side of the terminal, you can see certain underlying assets in combination with the current market price and signal strength. Opening a transaction is carried out by pressing the "Start" key. On the right side of the terminal there are statistics on transactions with the trader’s earnings inclusive.
All that is required of the trader is to carefully monitor the signal strength, and as soon as it reaches the maximum level, that is, when all the bars (yellow, green and red) are filled, you can safely buy an option for a certain type of asset.
We remind you that the feedback about the “Algobit” service from OptionBit with a negative connotation is more often left by beginners. They are indignant over the discharge of the deposit and because of the incorrect operation of the program. Loss of money occurs because software is used outside the strategy. Using it as an auxiliary tool can help to achieve good results.
Negative program reviews
As with most advisers, available reviews about Algobit quite often recommend not to use it in trading. People write about the loss of deposits and the completely incorrect operation of the system, thereby pushing market beginners away from using the program.
The thing is that the automated system is based on certain indicators, which, as you know, are prone to false signals. Experienced market participants are able to filter them, but beginners blindly follow them, which leads to a gradual reduction in deposit. An advertisement that promises everyone who uses the program to earn a million in the near future is blatantly lying. But the use of the tool as part of some profitable strategy will improve trading results.
Explicit exaggeration
By studying online reviews of the program, one can meet the statement of traders that with its help it is possible to obtain a repeated increase in deposit over an average of two weeks. Someone speaks of an increase of 230%, somewhere they voice the figure of 350%. There are even clever people who talk about an increase in basic capital as a result of using the system by 720%.
Experienced market participants are well aware that this is nothing more than a clear exaggeration, newcomers blindly believe promises. In fact, the system is able to give a profit, albeit a small one. In combination with other analysis tools, you can safely rely on good 40%, if not millions, which is a very worthy result of trading.
Terms of Use of Algobit Systems
The Algobit program, reviews of which are both positive and negative, can provide worthy help to a novice trader. Negative reviews are just a product of the program’s misuse. It must be remembered that software cannot predict changes associated with the news, which makes its use on the eve of the release of significant economic data in the calendar ineffective.
Using a tool is better for identifying long-term trends. The strong sensitivity inherent in the product leads to the formation of an abundance of false signals in the medium and short term. Do not rush to blindly believe everything that is written on the Internet. You can truly appreciate the offer from a binary options broker, if only you can independently test and analyze it.