Signals are a great method for copy trade binary options, provided you find a reliable source. Marketsgear.com is just such a place. The website is a dashboard for signal traders offering timely alerts useful for beginning and experienced traders alike. The platform supports over 60 assets, delivers more than 100 signals per month, carries a success rate over 80% and is completely free. I know at this point you are probably thinking scam but based on my research I think you can safely use this service.
MarketsGear is a stand alone that can be used across all of the major trading platforms so there is little fear of them working in tandem with a shady broker. In order to receive the signals you will have to open an account with one of their brokers, all of which are respected in the industry. It is in their interest to provide good trading tips and hook you up with good brokers otherwise no one would want to use them.
It is still possible to lose your ass by trading wildly but if you stick to some simple rules I think you will find the signals to be worth your time. The trick, and this is something that Marketsgear explains clearly on their website, is to use strict risk management and stick to one strategy – I’ll explain that in just a minute.
How To Trade MarketsGear Signals
The signals are delivered throughout the day when respective markets are open. This provides a potential window for trading that is 24hrs, depending on what assets you choose to follow. Signals are given for more than 60 assets with three basic strategies ranked by expiry; short term 15 minute, mid term 30 minute and longer term 1 hour. There will be signals for each asset in each time frame, you just have to wait for them to appear. The signals are also ranked by their probability. A five star trade is more likely to close in-the-money than a 4.5 star or 3.75 star signal. In order to get the best results it is advisable to choose an asset, but also a time frame and a risk tolerance. This means that you may only trade EUR/USD when it is a 30 minute signal and at least 4 stars.
Choosing a strategy as I described above is a great way to limit your risk and ensure you maximize your results but it is still possible to wipe yourself with risky behavior. This is why Marketsgear, and I fully support them in this, advises strict money management rules to go alongside your trading rules. They advise using only 5% of your account on any one trade, and to only have 15% (three trades) of your account open to risk at one time. I think this is a fantastic set of rules and ones that can be used even after you grow past the need for signals. I might suggest using a lower trade amount, like 3%, in order to get 5 trades instead of 3. Whatever it is you choose to do, choose to do it and stick to it otherwise you may find yourself busted simply because you lost it all on one lousy trade.
MarketsGear is not infallible, no trader or trading system is. The system is a good one though if used correctly. The signals are timely and when used with the right approach can be turned into profits. I usually recommend for new traders to learn trading on their own but today what I want to say is this. You should learn to trade on your own but you have to start somewhere. Following signals blindly is a sure way to failure, following signals with the intention of learning is something completely different. Use the strategies, follow the assets, practice the account management, stick to the risk management and copy trade your way to success. Like I always say, fake it till you make it!