Bitconnect Review – Bitcoin Ponzi Scheme! OFFICIAL SCAM URL: bitconnect. com. With the drastic rise in the value of Bitcoin, the scams surrounding this highly valuable cryptocurrency are also increasing in number. There is just no denying that and it can be seen with this latest example, the Bitconnect app . Sure, trading in cryptocurrencies like Bitcoin and Ethereum, among others, can be very profitable, if you know what you are doing or if you are using the right software. The Bitconnect trading app alleges that it can generate thousands and thousands of dollars per day with no risk of loss for you. There are very many different factors which contribute to our sound knowledge that this is a scam. There are various telltale signs that we recognize here, all of which point to one single fact, that Bitconnect software is a total rip off. There is still more to it though, because this Bitconnect system is also a Ponzi scheme , a highly illegal and fraudulent money thieving scheme that will leave you penniless. Make no mistake about it folks, the Bitconnect is dangerous, it’s malicious, and it’s coming for you.
We are here doing this Bitconnect scam review to give you fair warning about the very real threat posed to you by this pile of trash that has the nerve and audacity to call itself a legit trading solution. Who Is In Charge Of The Bitconnect Scam App? We actually do not have a single clue as to who is at the helm of this ridiculous Bitcoin trading scam. The whole presentation video features only a voice narrator who neglects to share his name with us or even make up a fake name. This is the first sign that something fishy is afoot here. We don’t even get to see his face. Next, there is also no official company name or listing given for this app, which is odd because somebody has to be in charge and somebody has to own it too. Moreover, the location of the headquarters of the Bitconnect system is not provided either, nor are any contact details given to us. In other words, the Bitconnect app is totally anonymous and without a real visible leader. This is of course a big problem for various different reasons which we will discuss shortly. The biggest problem here is obviously that there is no one you can blame once your money inevitably goes missing.
Using a guise of anonymity is a great way for the scumbags behind this ludicrous system to keep themselves from going to prison. They know that the Bitconnect system is totally fraudulent and illegal. They are just looking to cover their own butts. Bitconnect Trading Scam & The Problem Of Anonymity. As we mentioned before, being anonymous is a big problem for the Bitconnect app. Legitimate trading programs, whether for binary options or Bitcoin, needs to be fully licensed, registered, and strictly regulated. However, because this scamming trading system is 100% anonymous, with no clear person or company at the helm, it cannot possible have any kind of licensing. Providing signals, Bitcoin mining, and all forms of trading require various licenses. Since the Bitconnect app obviously does not have these licensed, it is either trading illegally, or more likely, it doesn’t ever make any trades at all. It’s just a Ponzi scheme meant to get you to fork over your hard earned cash. Another important issue related with the Bitconnect app being anonymous is that there is also no reliable broker involved. Reliable brokers are also licensed and regulated, which means that a really legit one will only allow itself to be associated with an equally trustworthy trading app. Since the Bitconnect system is clearly not legit in any way, you can bet your bottom dollar that the brokers involved are just as bad. Don’t trust these guys because the sole intention of this system is to rob you blind.
How Is The Bitconnect System Supposed To Work? This is yet another surefire way of telling that there is a scam afoot here. We have no idea how the Bitconnect works to generate money. There is no mention of any trading strategies or algorithms, no indicators, and nothing else. We are simply told that this system will turn our investment into a giant pile of cash. This is a classic scam tactic. They hope that some people will fall for this get rich quick scheme without even having to invent a fabricated explanation as to how it really works to put money in your pocket. Trust us when we say that you will never see a single penny in returns here. It’s a scam, it’s a Ponzi scheme, and it’s meant to empty your bank account. Bitconnect Scam Software – The Ponzi Scheme. There is not a single shadow of a doubt that the Bitconnect app is a Ponzi scheme.
In other words, it promises huge payoffs in return for minimal investment. However, the way a Ponzi scheme works is by taking money from you with the promise of an ROI, but then never really paying you anything at all. The crooks behind the scam simply take the majority of the money for themselves. You might get a few bucks in the beginning just to placate you and draw you into a sense of complacency, but this is just a trick to buy time. There are various investment packages with the Bitconnect app, each of which cost more and promise a higher ROI. There have been hundreds of complaints lodged against this absolute trash pile of a trading app and all of them claim the same thing. Nobody has ever gotten any kind of ROI and everybody has had their money stolen from them. This is what a Ponzi scheme is and how it does it. Don’t fall for these cheap tricks folks! Bitconnect Review – Conclusion. It is painfully obvious that this is just another Bitcoin scam, a huge Ponzi scheme meant to take you for everything you own. Stay away from the Bitconnect app because it will cost you dearly! BEST BO TRADER: Maximus Edge Autobot.
CLICK HERE: READ OUR MAXIMUS EDGE AUTOBOT REVIEW. IMPORTANT : If you have any questions, issues or you experience any problems please email us and we will be glad to assist you. Our contact customer support email is: bin email protected If you register with this service from our website then you will always have our full free support in case you run into any issues or problems. Remember that you are not alone, with us you will always be safe! To date, we have settled close to 2,000 trading disputes and we will not stop until we put every last scam out of business! If you have been cheated out of money or scammed by any fraudulent trading service, we encourage you to reach out to our complaint center for free help. If you need help, we will provide it for you! Thank you very much for reading this detailed review. Subscribe to our blog in order to be fully protected and to be up to date with all binary options services out there. Additionally please share and follow us on Facebook, Twitter, Google+ and Pinterest . See you next time! Binary Options Scalping method. " Scalping " does not purely relate to Forex trading.
The act finds its reflection in binary marketing too. Thus, with binaries, you get a chance to involve scalping into your trading method and earn more. The good thing about using scalping is that it allows purchasing many options in a short period and, therefore, making more trades. In detail, scalping presupposes placing hundreds of trades during one day. Accordingly, you get an opportunity to make big sums of money. Concerning the use of scalping in Forex, its distinguishing feature is that the derived profits relate to the amount of pips. Due to it, the profits are typically too low. The balance may only be increased in case they are put together. In case you use the mentioned method in binary marketing, you have more chances for success. Indeed, even in case there are insufficient value decreases in the course of &ldquocall&rdquo option trading, you are entitled to get the predetermined profits. The critical thing you have to note is that the profitability increases only if a high-quality method is applied. Otherwise, you risk losing your funds. Still, there should not be anything complicated about the use of binary options.
It can be illustrated on the example of the simple techniques, which is described below. The analyzed method implies the use of the simplest indicators and shows maximal efficiency in currency marketing. Do not forget that this methodology may be employed only in frames of short term trading (in the course of 60-second trades). Binary Options Scalping - The Scheme of Charting Installation. The chart has to include three moving averages that are colored in different colors. Mainly, we recommend setting up one red exponential average, which runs on EMA 12 period, a blue exponential average with EMA 26 period, and a green simple average with SMA 55 period. The timeframe for such chart must have M1 formation. The sessions, in which trading is allowed, are of high importance too. Generally, trading in the US and London sessions is recommended. The currency pairs must have a low spread character. For instance, you may employ USDJPY, EURUSD. The provided picture illustrates the act of trading the USDJPY currency pair on the basis of a M1 chart. Binary Trading Advices.
The key sign, which indicates that you have to purchase a &ldquocall&rdquo option at the specific point is the cross made from below by 12 EMA average on the other averages involved. It is really one of the simplest trading maneuvers, which can considerable enhance your profitability. Still, prior to applying it on practice, test the 60 second binary method in the demo version. We recommend setting time expirations in the frames between five and ten. In this way, there is enough time for pricing movements. Concerning the purchase of a &ldquoput&rdquo option, the signal for taking this step comes from the 12 EMA average crossing both other averages from the above side. As soon as you notice this tendency, you have to wait until a candlestick closes, and perform a buying act then. Although the scheme of method functioning seems quite simple, we still recommend applying it on a demo account first. Moreover, it is always helpful monitoring price modifications on the newly opened platform just set up the analyzed indicators and observe how the value line progresses. On the analyzed chart you may view the examples of two successful trades that were placed on a USDJPY currency pair. Thus, you may see for yourself how profitable you may become in such a short time period. More related articles: Volume Based Binary Option Trading.
Using the Binary options Bollinger Bands. Using Bollinger & MACD. Turtle method Trading. Tricks of the trade Spread trading. TRADE WHILE YOU SLEEP! SMART AUTOMATED TRADING SOFTWARE. InvestManiacs is comprehensive source of information on binary options and forex market from the professional traders with more than 15 years of experience. Broker reviews, successful trading strategies, signals and opinions on binary option robot software. «Chimera» – binary options effective trading scheme. Binary options – an effective method for conducting trades called “Chimera” Binary options market specialists claim that binary options trading can be profitable even when 65% of the contracts you register have a positive outcome. But would this be satisfactory for you?
Because under such conditions the dynamics of capital growth would be stable, but quite slow… Today you can reach a whole new level of profitability with the help of binary trading, more specifically, with the trading system called “Chimera.” It will allow you to make a profit on approximately 90% of the binary contracts you register. This method is based on an algorithm that uses the most accurate indicators with specially configured parameters through which they generate trading signals of a very high level of reliability that indicate market reversals. This article will describe in detail the whole mechanism of the strategy’s use in practice and all its trading rules. Practical trading tactics for “Chimera” – how to trade. The trader should work with this technique in exactly the same way as with other indicator techniques. The trader works on the chart indicator template, which means you will also need to generate it on the asset chart. So, in order to trade, you will need a platform with the following functionality: • A built-in special indicator set which has the functionality to use these tools on the asset chart chosen for trading • Increased payouts for open contracts • The minimum financial trading conditions • A chart with variable functionality for time frames • A good selection of profitable underlying assets for options trading • The technology for high-speed trader contract concluding • Precise, reliable quotes. To use this trading tactic method, “Chimera,” as well as for profitable trading in general, we recommend using a high-performance trading platform. The platform from the Binomo broker, a professional brokerage company, is a high-tech modern terminal which is fully equipped to meet all the requirements listed above and is most correctly suited for the use of this method: • A set of system technical auto-indicators • A set of highly profitable assets from 80 “representatives” of different types of markets • Conclusion of open transactions in a record time period of 1.7 ms • Payouts on binary lots at up to 90%* • A chart with a multitude of variable individual parameters • Trading conditions: no less than $10 – the minimum amount of capital, and no less than $1 – the initial cost of a transaction. * in case of the successful deal.
So, when you have all the necessary tools at your disposal, you can then start to re-configure the template space of the “Chimera” trading system. But you will first need to switch the quote chart to the 15-second time frame, and apply the complete set of the required indicators to this chart with the specified reconfigurations: • The Alligator indicator with the original standard shifts and the periodicity changed to �” – we set this first • The Alligator indicator with the original standard shifts and the periodicity changed to �” – we set this second • The RSI Indicator 50 with 50 set on the scale – we set this last. After that, a template markup of the following chart format will be formed in our workspace: Binary options – an effective method for “Chimera” – how to conclude transactions on it. Entering the market with a position UP is done after receiving a high-precision combined signal from the indicators – it will be displayed in the following template format: • The lines of the short-period Alligator auto-indicator will intersect upwards with the moving averages of the same medium-period auto-indicator • A breakthrough of scale level 50 will occur upwards at the curve of the RSI indicator: Entering the market with a position DOWN is done after receiving a high-precision combined signal from the indicators – it will be displayed in the following template format: • The lines of the short-period Alligator auto-indicator will intersect downwards with the moving averages of the same medium-period auto-indicator • A breakthrough of scale level 50 will occur downwards at the curve of the RSI indicator: To achieve the greatest possible effectiveness when trading on this method, you will need the help of trading signals from the indicator set for lots with expirations of 3-15 minutes. This extended range of operation is easily explained by the interval of our quote chart and the corresponding duration of the current forecast generated by the indicators. Therefore, with these configuration parameters, the “Chimera” trading system will be able to ensure effectiveness of trading at about 90%. The risk management system for this tactic is formed on the standard basic principles of money management. Therefore, in order to reduce potential losses to a minimal level, one options contract should be limited to the level of 5% of your capital. But with a relatively small amount of operating capital, the limits on the amount of the transaction should be even stricter, and it will need to be reduced to the lowest possible amount. “General Risk Warning: Binary options trading carry a high level of risk and can result in the loss of all your funds.” Binary options trading scheme called “Bengal” 06.07.2017 Binary options scalping trading pattern called the “Jeweler” 10.07.2017 Starling binary options trading pattern 20.07.2017 ”Spyglass” – Fast and effective binary options trading system 18.07.2017 High effective options trading pattern called «Guide» 22.07.2017 The best indicators for trading binary options: trading system Mountain 14.08.2017 The Violinist trading scheme using MACD indicator 29.07.2017 Binary Options: Scalping trading system called «Shaft» 18.07.2017 Binary options trading system called Neighbor 07.08.2017. Leave a Reply Cancel reply. Language: Best binary option brokers. Max on Finmax Truly reliable and trusty broker. Ive been working&hellip Genk on Finmax , .
&hellip on FinmaxFX finmaxf&hellip on Finmax . &hellip on FinmaxFX (Practice). &hellip Subscribe to our newsletter. This site was created for people interested in learning and trading binary options, and of course how not to fall for the bait of unscrupulous trading platforms. Here you can find a lot of useful information about brokers, strategies and the latest news from the world of binary options and many other interesting things. Here you will be given the opportunity to grasp the essence of the world of binary options, and finally start to earn on binary options trading (but it is only in the case if you have a desire to learn) About us & Disclaimer. Social networks. Safetradebinaryoptions. com does not respond for loss of money and possible risks connected with options trading. User must fully understand and accept all possible risks carried out by any operations, as well as partial or complete losses of the invested financial resources. All actions and, as a result, their consequences, as well as the way of using information, service and products provided by the site must be fully borned by the user’s responsibility. “General Risk Warning: Binary options trading carry a high level of risk and can result in the loss of all your funds.” Binary Options: Scam or Opportunity?
We’re recently getting more and more contracts for coding binary option strategies. Which gives us a slightly bad conscience , since those options are widely understood as a scheme to separate naive traders from their money. And their brokers make indeed no good impression at first look. Some are regulated in Cyprus under a fake address, others are not regulated at all. They spread fabricated stories about huge profits with robots or EAs. They are said to manipulate their price curves for preventing you from winning. And if you still do, some refuse to pay out , and eventually disappear without a trace (but with your money). That’s the stories you hear about binary options brokers. Are binary options nothing but scam? Or do they offer a hidden opportunity that even their brokers are often not aware of? Binary options, in their most common form, are very different to real options.
They are a bet that the price of an asset will rise or fall within a given time frame. If you win the bet, the broker pays your stake multiplied with a win payout factor in the 75%..95% range. If you lose, you pay the stake minus a possible loss payout . You’re trading not against the market, but against the broker. The broker needs you to lose, otherwise he would not make any profit. Even if he really pays out your wins, and even if he does not manipulate the price curve, he can still control your profit with his payout factors. So it seems that even if you had a winning system, the broker would just reduce the payout for making sure that you lose in the long run. However this conclusion is a fallacy. It can in fact be of advantage for the broker to offer a payout that allows you to win, as long as most other traders still lose. A broker has not the freedom of arbitrarily reducing the payout. He’s competing with other brokers. But why would you want to trade binary options anyway, when you also can trade serious instruments instead? If you wanted a binary outcome, you can also achieve this by opening a Put or Call Spread with real options – and this with a serious broker, much higher payout factors (even more than 100%) and the possibility to sell the options prematurely. But aside from tax advantages in some countries, there is one single compelling reason that might make a binary options trading experiment worthwhile.
Profit and trading cost of a binary option are independent of the time frame. So you can trade on very short time frames, which would be difficult, if not impossible with real options or other financial instruments. You can find a discussion of this problem in the Scalping article. Binary scalping math. The required minimum win rate for binary trading can be calculated from the broker’s win and loss payout: W = required win rate for break even. With 85% win payout and no loss payout, you need a win rate of. 54% win rate seem to be manageable on short time frames. The transaction costs of a non-binary, conventional broker would require a much higher win rate, as in the following graph from the Scalping article: Required win rate in percent vs. trade duration (non binary) You had to win almost 80% of five-minutes trades – impossible for a trading system under normal conditions unless you enforce that win rate with some tricks, which however won’t help getting in the profit zone. So, smaller trading costs on low time frames are the obvious benefit of trading binary options. With all the side benefits of low time frames, such as more data for backtests, and shorter drawdown periods in live trading. But how can we take advantage of that? There are three problems to solve.
Three steps to potential binary profit. Find a method with a win r ate that is better than the W determined with the above payout formula. But be aware that prices on small time frames are strongly feed dependent. Normally you won’t know your binary broker’s price source (if he has any at all). For being on the safe side, test with different historical price data from different serious brokers (f. i. Oanda or FXCM) and stay some percent points above the minimum W . All those issues make trading binary options sort of “messy”. However it’s the messy methods that sometimes offer the best opportunities. Ed Thorp made his first millions not with ‘serious trading’, but with a Blackjack method and with a method to estimate the value of warrants, both also considered messy and hard to calculate at that time. A price curve is no random walk. At least not all of the time. Long time frames are often dominated by trend, short time frames by mean reversion.
When transaction costs do not matter, it’s not very hard to find a system with > 54% win rate on 5-minutes bars. Here’s a simple example that exploits the mean reversion tendency of short time frames (script for Zorro): In the C code above we defined an individual objective() function that optimizes the system for binary trading. It measures the system performance as the number of winning trades divided by the number of losing trades. Otherwise the optimizer would hunt for the most robust profit factor, which makes no sense for binary trading. The setup establishes a 5 minutes bar period, which is the time frame of our bets. We use 20 WFO cycles and let the optimizer use all CPU cores but one. This way the training run takes about 5-10 minutes for 5 years data. The BINARY flag activates binary trades, and we’re simulating a broker with 85% win payout and no loss payout. We have a mean reverting system that trades whenever the current price is closer than a threshold – here, 1% of recent volatility – to its previous High or Low. The time period for determining the High and Low is the only system parameter that we optimize.
You could improve the system in many ways, for instance by optimizing also the threshold, by modifying the objective() function so that it prefers systems with more trades, and by applying a filter that prevents trading in non mean-reverting market regimes. Since we bet on the price in 5 minutes, we’ve set the LifeTime of a trade to one bar. Here’s the equity curve from a 5 years walk forward test with EURUSD: The system has about 56% win rate and a notable, although not spectacular positive return. Which is not achieved by the crude mean reversion mechanism, but mostly by amplifying the small entry-exit price differences through binary trading, even though the payout is only 85%. You won’t get a similar result with conventional trades. The same system not trading binary options, but leveraged forex positions produces a very different equity curve (for testing, comment out the BINARY flag and the Payout settings in the code): With the same trades we have now only 40% win rate and an overall loss, since all the trade profit is eaten up by spread and commission. How do you let your script automatically enter a bet at the right moment? This is a technical issue unrelated to trading, but it comes up whenever you have a broker with a web based platform and no proper connection for automatizing. Here’s a code snippet for detecting the positions of Buy and Sell buttons on a website, and automated clicking them: Start the script, and wait until the broker’s website pops up in your browser. Then follow the instructions in Zorro’s message window. Manoever the mouse onto the “Buy” button and hit the right mouse key. Then do the same with the “Sell” button. The script will store the button positions and then use the keys function to send test clicks to both positions of the active window. For testing purposes I’ve imitated a typical binary broker’s trading platform. You now only need to glue together your trading script with the button clicking script, and adapt the latter to the website of your broker.
This is left as an exercise to the reader. And better use improved versions – the scripts here are kept simple for demonstration purposes. As long as the script trades, make sure that the browser window stays in the foreground, or else it can not click on the buttons. For the position size, either enter a fixed size for all positions, or let your script click into the size field and send key strokes to set individual sizes. Of course I don’t want to recommend a particular binary options broker. In the end, they’re all crooks – but some are crookier than others. Finding a suited broker is, also, left as an exercise to the reader. Binary broker comparison websites are often – surprise, surprise – installed and paid by binary brokers. US citizens are normally not allowed to trade binary options with brokers that are not regulated in the US. Some brokers will accept your deposit nevertheless, but use that as pretext to refuse payout. If you’re a citizen of Israel, you might not be accepted by many binary brokers since they’re not allowed to fraud compatriots. It’s often the “messy” and despised trade instruments that can still provide opportunities when they are correctly understood.
I’ve uploaded the two scripts to the 2016 repository. You’ll need Zorro 1.52 or above for running them. When you now make huge profits with binary options, don’t forget where the money comes from: Not from the broker, but from his less fortunate customers that maybe just haven’t read the right blog. Addendum: From all articles on this blog, this one attracted by far the most spam comments. From them it appears that a new lucrative business has established in the orbit of binary brokers: recovery fraud . As soon as you’ve lost your money, you’ll receive offers by “hackers” or “law firms” to recover it, for a fee of course. Where did they get your address from? Naturally from the very broker that bagged your money… 71 thoughts on &ldquoBinary Options: Scam or Opportunity?&rdquo Thank you for this article. Would you happen to know of any software out there, or a model, that cap produce a binary risk curve over time? Similar to the risk graphs created by traditional options software? I found one on Wolfram but I can’t change the security prices.
It would be very helpful for me to understand binary prices over time and volatility levels. I don’t know such a software for binary options, but you could probably calculate the graph with the standard Black-Scholes algorithm, just as for a normal European option. The question is only what you would do with this information, since you can normally not sell a binary option during its lifetime. I have an account at Nadex and you can buy and sell them (close out a position). So I would be helpful for me to mode out the possible prices over time. I bought your book recently and really liked it. Lots of great ideas for trading algos. I’m glad I understand some German. Here a question regarding your article: I’m a complete newbie to binaries, so please forgive my ignorance. You say that the trading cost does almost not depend on the the time frame. Obviously, when you put on a lot of trades in a short time, the expected profit is usually small, so it can easily get eaten up by commissions. As far as I understand, the payout of a binary is fixed, so it is always the same whether your trades last 1sec or 1000secs, which makes it in some sense time-independent. However, (and this is where I’m a bit green still), binaries have a fixed expiry date, so our profits are in some sense bound to the time to expiry and get smaller the closer our trade entry get to it. On the other hand, the closer we get to expiry, our probability of reaching a certain target price increases as the path divergence from spot to expiry gets smaller. So, in my naive understanding, the algo you presented above should only work optimal for a given time in the day that is n periods away from expiry.
I’m probably wrong but I would like to hear your opinion of why this is not the case. PS, I think it should be fairly easy to model binary options with Monte Carlo rather than Black Scholes, as it is easy to put all sorts of constraints in it. I’ve done this with Barrier Options, it’s slower but quite effective. Do you intend on translating your book, or I’ll have to buy the e-book and them Google translate it? =) @ Jeremy, Tom: I had not heard of Nadex before, but they indeed allow to exit an option before it expires. This article was only about the usual options with a fixed duration and costs independent of duration, but exiting options opens new interesting possibilities. A risk graph makes then a lot of sense. Maybe that could be the topic of another article. – @ Gonzatti: Yes, I’ll translate it when I find the time. Informative and entertaining as ever. Many thanks. Jeremy, Tom – thanks re Nadex. Interesting. hi, very interesting article, me too have an account at Nadex. and they have a very good and and informative site with huge amount of info.
could u check their platform and how we can use this platform with Zorro app. with best regards. From what I see, Nadex seems not to provide a direct connection. So you would need a script like above under “Step 2” or some similar solution for controlling their trade platform. Thank You for this informative contribution. The expiration time of the option may no doubt also be an interesting parameter to look at, although it is very broker specific what it can be set at. I have been trying to exploit this additional parameter, since in zorro there is the possibility of adjusting the ExitTime from the BarPeriod to some other value (I inserted after “LossPayout = 0” simply ExitTime = 15 for instance). Surprisingly, if I do so with the above script the test result is always the same which can certainly not be correct. Why does this fail? Because your ExitTime is overridden by the LifeTime setting. You can use either ExitTime or LifeTime for the duration of a trade, but the recommended method is LifeTime. – You can find those issues by looking in the logfile.
There you can see how long the trades last and which profit they make. great article, in my experience the binary options is good, but requires an method and some education, i have some profits, I apply martin gala system 🙂 Kisses. Seems that LifeTime param. is not actually documented in zorro manual page at least I couldn’t find it. Would like to know the difference between ExitTime vs LifeTime. GoMarkets has binary options on their MT4 platform, trading from your normal account. I think there are a few other’s out there too. Yes. Some brokers provide binary options through the FX LITE MT4 plugin. You can then trade directly with Zorro through the MT4 bridge and need no button click function. Only the time frame of the bet must be set up – as far as I know – in the order comment field. What about position sizing?
Probably via lot size, but I found no detailed documentation. I’ll inquire with the developer of the FX LITE tool. Ok, according to the developer this is the MQL4 command to bet on a rising price with FX LITE: and the corresponding Zorro code: “Size” is the position size in units of the broker’s minimum size, like 1$. “BO Exp:” sets the duration in seconds. If you want to change the position size on the broker’s web interface, it’s just as with clicking the buttons: let the script click into the size field and then send key strokes for setting the size. Great & interesting example Johann – thanks for sharing. How does Zorro evaluate the binary option success? From the code, the ‘set(BINARY)’ is used to automagically evaluate the success of the prediction. In my own simulations of the same algorithm (EURUSD, last 5 years, 5min periods), the win rate is about 60% if the mean of the next period is used to determine success – but 52% if the close of the next period is used (more noisy) Also, some binary options brokers (like IG Index) quote a threshold price which is their prediction of where the market price will be in 5 mins. Our algorithm needs to determine whether the market price is likely to be higherlower than the broker’s own estimate on expiry (not the market price when the bet is placed). This is hard. The close is used by Zorro. The mean would be wrong since it’s no real price. However 5-minutes data is highly feed dependent, and you will likely get different results with different brokers. Zorro uses FXCM price data by default, but it’s better when you backtest with price data from the very broker you trade with.
It’s interesting how many variants of price bets are offered by binary brokers meanwhile. Using a predicted threshold would effectively prevent an algorithmic system since you can not backtest it. Here is a complete list with all scam brokers. Maybe you can add it to your article: howwetrade. combinary-options-scams I get this message: Error in ‘line 27: ‘SET_ORDERTEXT’ undeclared identifier. “Undeclared identifier” means that your software does not understand what you’re typing. Either your version is too old or you did not type it right. This blog is not really a good place for programming support, but the user forum is. There you can also get the newest version. I completely agree that binary options are easier to trade. Thanks for the interesting article. I found binary. com has an API trading interface.
Maybe we can expect Zorro will have ability to trade binaries ? A rare pearl in the sea of binary option articles! I also like a lot the general approach to trading you and the community of Zorro have. Kudos to you! I’m quite new to Zorro, so I think my question will have a simple answer. I tried to change the line: and got a suspiciously higher winning percentage. As I think this is not because of a real improvement of the method performance, what is the reason for that? Is there a way to place a (binary) trade – talking about training and testing mode – before all other trades expires? Thank you and congrats again! Thanks for the quick reply. I played around further with the script, and noticed an important fact to be taken into account in Zorro when simulating binary options strategies. When selecting a LifeTime much higher than 1 bar, and allowing placing positions when other positions are already open, you will notice that something odd is going on. You may get incredible (but unfortunately wrong…) results, that being due to the fact that by default Zorro closes a trade when another trade on the opposite direction is placed, assigning it a win or a loss depending on the situation at the moment (thus without taking into account the expiry time fixed by LifeTime).
I think this is a “bug”, in the sense that Zorro should not behave like that when the the BINARY flag is set. I ‘solved’ the problem setting Hedge to 2, which allows to enter and open long and short positions simultaneously. Maybe this setting of Hedge to 2 should be executed automatically by the program when the BINARY flag is set, in order to avoid wrong simulation outcomes. I posted this info into the Zorro forum as well… Yes. When more than one trade can be open, Hedge must be set to prevent closing a position by opening opposite ones. Otherwise you could prematurely exit from your bet and book the profit! – This is not automatic, so the consequence of any setting must be carefully considered for emulating binary trading. I have some real experience with autotrading binary options. I built an interface for Newstrading. I used Forex News Gun and rent a server in New York, which put me in the position of executing a trade within 1ms once fundamental indicators are published. It’s an unbeatable system if you take your time to study how the market reacts to the data.
I had 80+% winning rate and with the optimal risk (Kelly Formula!) I should be a millionaire by now! However, once brokers realize what’s going on, they block you out with error messages. I would highly recommend to learn how to apply fundamental analysis and how to trade manually instead of spending any energy on binary options because of my own experience. I spent like 2000€ for server rent, deposits I never got back (beware – 24option takes 80 units every month from you account if you don’t trade several month. StockPair does this as well), Winautomation Pro, and a custom coded method (was one of the customers JCL spoke about – it is possible to beat 57% winning ratio but it’s really hard with technical analysis only! I don’t think it’s possible to beat break even really significantly, so forget about getting rich quick). However, I managed to build a somewhat stable autotrading interface with Winautomation. If you are interested, I’m willing to share my code, but it will need adaptions for your broker. Nice article, I will play with this code the next time I’m bored. I’m sdh309795gaas in the Zorro forum. Would anyone be interested in working together on some of this stuff? I’ve written an nodeJS API for iqoption, along with a backtester that allows the algorithm to be dropped right into the API without any modification, but I’m still trying to figure out the price prediction part.
This method gets about 55-57% accuracy when I tested it with the data from iq option. But when you factor in the changing profit rates and everything, there’s just not a whole lot of trades left. @TeeraLucksanapiruk Where you able to connect zorro with iq option through your API? If that is the case I am interested. how can I get the script or apply the auto robot to trade for me with a good broker like binary. com ? Please guys – I work at the sharp end of the financial industry - these can best be likened to a roulette wheel with a slower time to burn than through your chips. Unless there has been some new market news the price fluctuations cannot be predicted on a five minute interval. Some of the finest on Wall Street make only 75% profitable decisions. The have access to non-public research, 20 years experience, teams of analysts using supercomputers crunching millions of transactions, financial capital (billions) and brokers that work for them. Thankfully they only need to be right on very specific transactions. You don’t give money to Nigerian scammers, why let someone take your money on binary options. I had $5000US dollars deducted from my visa to Optionbot 3.0. But I have not heard back from the company or from my broker who had promised me that by investing I would make a very good profit. Unfortunately I only received 1 call from my broker who set up some sort of auto trade and was told specifically not to touch it, which of course I haven’t. The problem is that now I lost all my money and I cannot reach them either.
I am writing this post because one broker named John, from such called: Optionbot 3.0 called me on 25 June of 2016 and forced me to open an account on their website optionbot. net promissing me that Optionbot will make 100% PROFIT of my deposits. I transferred that day 10 000 Euro by Credit Card. The broker took over my account and started trading. After half an hour, the margin level was under threat and I received a call and broker started to ask for more money. I sent another 5 000 Euro from my Credit Card! On 30 June, he opened 11 wrong positions with a huge loss and I woke up with all my money lost. I instantly called my broker and this criminal which burned all my money said that he will refund all my positions and I will succed to withdrawal all my money. I waited for few hours and tryied to call John, and he never asked. Days passed away, I was trying and trying to call him, to write to his email, but without answers.
I want to catch this broker which robbed my money, and made hundred of trades on my behalf without my consent and to punish him for every EUR that he lost, to punish him piece with piece just to understand how hard is to make money. I still hope that I will find justice one day, but for you guys, PLEASE, DO NOT EVER REGISTER OR CHARGE THIS SHITNESS SITE: OPTIONBOT 3.0. Binary options are great financial product but there is a lot of greedy brokers and firms . They stealing money from innocent people through robots, auto-traders and signal services.. All these systems are usually created by unregulated binary options brokers.. On this site you can find many scam systems: binaryoptionsradar. com I wished I have read this article before I parted with my 250US dollars with BDB. Scammers really were able to convince me by calling me long distance from Cyprus. i think he’s trying to scam a lot of people, he made it very good and authentic. This is such a great post in which Binary Options scam is describe in a better way. I am seeking this type of blog from so many days but today i am glad to find this blog. I have been trading binary options with this script on livedemo accounts since Dec. on auto pilot with two brokers. It seems on some days it works really well and on other days it’s the opposite. The end result is, it’s struggling to break even.
Love to work with someone to improve this. Let me know if you guys are interested. It’s all good and well to say that you are succeeding as a trader when your account balance is rising and trades seem to be going well. But I’m wondering if anyone here has managed to withdraw any actual cash from binary trading accounts? Things were going really well for me and I believed I had found a quick path to success when I started trading and winning. But, when I needed to liquidize my funds, it was impossible. Has anyone been successful in getting money out? I have been contacted by a legal team who has informed me that the binary company I invested with will not ever give me my money unless I open a case against them, so I am thinking of doing this. Does anyone have any experience advise about this? Comments like this appear here every second day, and usually end up in the spam folder since they look like bait for advertising “legal teams” or “hackers” to “get money back” from a binary broker. So let me draw this comment out of the spam and answer it: If your binary broker refuses to pay out, the first problem is that you normally do not know their real address, not even their country.
So the chance to get your money back from a Cyprus mailbox is zero. But in the orbit of fraudulent brokers, a whole industry of “legal teams” or “hackers” have established that promise retrieving your money for a fee. You’re then not only losing your investment, you’re losing that fee as well. Sometimes the “legal team” or the “hacker” is the broker himself when they smell that their client has still some money left. At least that’s what I’ve heard about those services. What I so far never heard is that someone really retrieved money from a fraudulent binary broker. Hi JCL I was wondering if you or someone could explain me how to modify the objective() function so it prefers systems with more trades as you suggested. I have been searching a way to do this in the zorro manual but I haven´t found anything yet. The objective function is supposed to return a value that is a proxy for performance. The higher, the better.
So you could just subtract a “penalty term” for not enough trades, like this: var PF = ((var)(NumWinLong+NumWinShort))(NumLossLong+NumLossShort) var Penalty = 1.(NumWinLong+NumWinShort+NumLossLong+NumLossShort) return PF – Penalty This is just a quick & dirty example, there might be better methods. Let’s have a discussion some time with regards to. binary options along with what we could do to. ensure that it is more effective for everyone. Thanks for the whole write up. Looking forward to getting more information on you manage everything regarding money management, legal issues and other things to get things fancy and manageable. Binary options is really not for all. It always bears a lot of risks. This kind of information will help the enthusiasts escaping the bad things. Regards. Thanks for a fascinating article. Regarding trading costs on short term binary systems…mission doesn’t factor in however can you comment if slippage affects the results of this system? I came up with an automated binary options system that trades 650 timesday and backtests in MultiCharts at a 76% win rate (39.5% payout) — which “on paper” is profitable. However slippage brings the real world results down to roughly 70%, making it a marginal loser. Is this the same with your system? In binary trading, slippage largely depends on the honesty of the broker.
Since they are usually market makers, it is no problem for them to generate artificial slippage for reducing the win rate. So it may be worth the effort to test the slippage and compare it with different brokers. In serious trading, slippage has a smaller effect on the win rate since asymmetric slippage is illegal under most regulations. Would this system benefit from applying your MMI as a filter? Not really, since it’s using mean reversion. MMI can detect trend regimes, but makes no difference between mean reversion and pure randomness. Hi jcl…ahhhh sorry I missed that part in the MMI article where you said just that. Sorry about that. Ok, just as a follow up though, let’s assume as you imply that there are 3 modes, trending, mean reverting and random. Obviously the mean reversion system is not going to perform well in a trending market or in a random market…however if your MMI eliminates trades during trending periods, would that not at least be partly helpful in filtering out some of the losing trades? If not, do you know of a method to differentiate a mean reverting mode? ADX is supposed to be effective, however I’ve never had much luck with it in actual system testing. Last question…is your book available in English?
Love your blog! Yes, there are other methods to detect the market regime, often used is the Hurst exponent. I have already on my to do list a series of experiments to find out which detection method works best under which circumstances. FrankyB….pretty sure the only legal way to trade binaries in the US is with Nadex. It’s an SEC regulated exchange though so totally safe unlike most other binary brokers. I’m pretty sure there you’re trading against other market participants rather than against any broker. Glad to find somebody who takes a realistic approach to binary options trading. I believe that profiable strategies can be automated, but they are not available in the public domain. Because when you have a profitable method, you trade it and make money, you don’t share it with everyone, especially not for free. Unfortunately there are hundreds of scam systems (see warnings at thebestbinaryoptionsbrokers. netcategorybinary-options-scam-2) that try to make people believe the contrary.
And I see a lot of people fall into these traps, they still believe that somebody will make them money for free. One more thing to mention is that most binary options platforms has an affiliate program so you cant really find a honest review. Most of the reviews are made to generate revenue and has interest. If you need some assistance in recovering you money lost in binary options there is this company here that will help you get your money back. Advertising link removed Almost died at the end of the article: “If you’re a citizen of Israel, you might not be accepted by many binary brokers since they’re not allowed to fraud compatriots. ” Cool overview. At the end of the day, Binary Options, FRO (Fast Return Options) all derive from various interpretations of the B&S formula and are indeed financial instruments. Sophistication is the basic element of fraud and if you look into HFT there’re a lot of questions and I remember a movie with Haim Bodek talking about weird weird stuff. jcl…does this system enter on the open of a bar or intra-bar if the price hits your pre-defined level? jcl…I’m wondering if I could get your opinion on something. Do you think it is possible, using data mining, that someone could discover reliable repeating patterns in a data series generated by a cryptographically secure pseudorandom number generator that is programmed to behave like a real market? Not talking about cracking it or finding the seed, just patterns that repeat leading to higher or lower prices over a specified timeframe. Or is this a hopeless endeavour? Examples would be: OR more significantly: If it is a random number generator, then it has per definitionem no reliable repeating patterns.
Otherwise it would be a bad programmed random number generator. I guess the reason I asked is that binary. com says about these indices: “These markets are simulated markets that use randomly generated numbers to reflect the way that a real market behaves” So I would think they must have some deterministic algorithm that makes the numbers a little less than random. For instance, volatility in these “fake” markets seems to exhibit mean reverting tendencies similar to the way it does in real markets. I wonder if that is by accident or design? There are many ways to simulate a market, the simplest is using real market data. So I don’t know for what purpose binary. com uses a random number generator, and in which way it is programmed. Since it is a binary broker, I would assume that it is programmed to maximize the user’s losses. This means the generated index depends on how many users bet on rising and how many on falling. Since this info is known only to the broker, you can not use it to your advantage. Hello everyone, I’m looking to get into trading in this way but would like to read jcl’s book first.
Could someone help me out with a link?
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