Should You Use Mike’s Auto Trader?
This platform is more than trading software. It is also a community of traders that affords you a chance to interact with other traders while developing your trading edge. The software is free and you will also get the extensive knowledge of Michael Freeman, the firm’s founder. The platform uses semi-automatic binary options trading software to make life easy for its traders. This is through simplifying as well as automating the technical analysis modules plus the process of applying trading signals to brokers’ accounts.
Here’s how: signals are generated 24 hours every day for 5 days a week according to the auto trading scripts, and then users are free to choose the signals they wish to go with. Upon choosing a signal, the user will then select a trade amount that will allow him/her to control the risk he/she is willing to take on that signal. The minimum trade amount has been set at a low of $25.
To sign up with Mike’s Auto Trader is free. The only requirement is a broker registration and a minimum deposit of $250. However, the recommended deposit is at least $500 considering the best practice in money management is trading about 5% of your total balance. In the past, there was a requirement for every new member to make a donation to a charitable cause when signing up. Today, it’s not really a requirement though it’s highly encouraged.
After registration, the software itself has the option of automatically choosing the broker. Unlike other binary options platforms, this one allows you to sign up with a number of several different brokers that includes; One-Two Trade, Interactive Option, Lbinary, Titantrade, OptionRally, GTOptions, BigOption and AnyOption. The fact that Mike’s Auto Trader is a direct affiliate with many brokerage houses makes it easier for many traders to sign up.
You have to be a confident trader with a passion in trading and the willingness to dance with the markets. Should you choose to rely on your own strategies, it may take you a long time plus much effort to master the trading techniques. However, should you want to learn swiftly while still trading, you might want to check out the trading strategies presented on Mike’s blog. The blog offers a slew of interesting technical strategies for those traders who are looking to learn the art of trading binary options manually.
In my personal opinion this is very time consuming process overall. I would rather use fully automated trading software like binary option robot or binary hedge fund