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12
Jun

Introducing autotrading – Algobit trade alerts

Written by Mike Roberts. Posted in Gadgets

Autotrading refers to a trading strategy that focuses on placing buy and sell orders automatically with the help of a system like Algobit. Whenever certain conditions set by the trader are met, the system will place the buy or sell order. This type of software allows traders to execute orders in the market automatically and this type of trading is especially efficient with binary options mainly because of the simplicity of the system that allows only two possible outcomes. Mainly active traders use the Algobit strategy to exit and enter positions at high rates and require looking after multiple transactions at the same time. There are numerous autotrading systems available and they differ from each other on the criteria they use when generating signals.

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What is Algobit

 

Algobit is a signal system and trading platform provided by OptionBit. Traders are required to open an account at OptionBit before signing up for Algobit signals. This binary options brokers offers access to its autotrading program free of charge, so anyone is eligible to make use of the signals. However, trading requires depositing a minimum sum into your account. The minimum deposit of $200 is tradable, so users do not have to worry about losing their money. Nevertheless, trading with binary options will require a larger initial investment. The efficiency of the Algobit strategy has already been proven, but results may vary depending on the market conditions. Signals generally have more than sixty percent efficiency for short-term trades, but it can drop to fifty percent when the market becomes especially volatile.

 

 

The trading modes

 

Algobit offers four trading modes for the convenience of its users.

 

  1. Short-term trading: Algobit will offer signals to execute buy and sell orders with very short expiry periods starting with sixty seconds and up to five minutes. The system analyzes the market and sends signal when it matches with the parameters of a short-term trend.
  2. Long-term trading: Algobit analyzes the market based on long-term trends parameters and the expiry period of the trade starts with fifteen minutes and up to the end of the day.
  3. Signal trading: Traders choose to execute orders based solely on the signals sent by the system. The signal trading mode also allows users to trade against the trend. Algobit provides traders the opportunity to choose their preferred expiry time in this mode.
  4. Manual trading: traders can switch to the manual trading mode whenever they wish to trade without the assistance of the Algobit system. This mode makes a great difference for traders, because they are not forced to log out from the trading management system to trade manually, saving time and effort. In this mode, users are also allowed to make instant deposits.

 

The trading modes provided by Algobit offer traders the opportunity to trade more efficiently, not to mention that the manual mode, which transforms the autotrading system into a trading platform shortly, provides an important benefit.