Efficacy of Critics on Auto Trading
by James Franklen
Mastering the mechanics behind binary options trading is not an easy task. You need to learn a number of various strategies, the components of those strategies, the very important oscillators, their theories and assumptions, the facts surrounding the market at a given time and the elements specific to given asset being traded. It may take an awful amount of practice to master them; however, once it is done you have to sit back and start earning.
To make money frequently you have to take help from technology. An auto trader is exactly the tool you need for making money frequently. Now to understand how an auto trader works, it is essential that you master various aspects that go in to making a trade as discussed above. Some people will tell you that auto trader can be used by even beginners to make more money, however, it’s just not advisable until and unless the person wanting to trade binary options has some level of proficiency in it. Only then will one be able to make more money and really appreciate the effort put in auto traders being offered by various brokers/ dealers.
In my view, give or take a few unscrupulous auto trading software which have bugs, most of the auto traders offered in the market are quite handsome tools. They serve the purpose well, and as it is with any software, they work best or better according to the operators own abilities, something similar to garbage-in garbage-out (GIGO). Therefore, to me the charade of criticism on them is not even a wee bit justified. One should not base and propagate his or her opinion on a given tool just using or observing it from one narrow aspect or testing one with most complains. Of course there may exist conceptual bugs in the platforms algorithms or in any other aspect; it is almost an inherent problem with software development, even Apple applications and Windows OS have them.
While reviewing an auto trading platform one should carefully observe various major areas related to interface, networking, object delivery, security, resource usage and underlying language/ IT platform. When reviewing interface and object delivery, areas such as ease of setting up rules, sound integration of various strategies and tactics, speed of execution, availability of ancillary tools, trade related prompts, etc. While reviewing networking and security aspects observe the platforms ability to handle data transmission, encryption, etc. The auto trader’s resource usage also matters a lot; whether system remains stable when running it with other application or not.
To ward off the criticism away from auto trading tools, the industry needs to respond even more fervently. Often the platforms lack a module which can address any queries or complains relating to auto trading on the spot. Gaps do remain in software even after dry testing and beta runs and only way to make them perfect is through user insight. One cannot underestimate the importance these tools possess in the entire industry. Their active and error free presence effectively translates in to more trusting traders.
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