We just reviewed the new OptioNavigator trading robot from EZTrader and here is what we found.
The OptioNavigator makes trading options extremely easy for traders with limited knowledge of the financial markets. As you can see in the picture below, the trading algorithm is constantly generating new trade alerts.
In order to access the system, traders must create an account and fund the account at EZTrader, Or they can join OptioNavigator, and then connect to EZTrader to open a trading account.
The nice part about the system is that it generates an incredible amount of trade alerts. The trade alerts are not just for Forex, they include commodities, market indexes and stocks.
The down side to the system is that, A. We do not know the basis for the trade alert. (What is the system scanning? What price action generates a signal?). B. There is no ability to auto trade the alerts.
Auto trading systems (like signal index) are both good & bad. The good part about them is that they place a trade for you as soon as an alert is triggered. The bad part is that if they generate too many bad signals then you wipe out your account and lose everything.
When using an algorithm signal generator like OptioNavigator, you need too #1 See the alert that was generated. #2 Check that the alert is still a smart trade idea. #3 Actually place the trade.
Since OptioNavigator is integrated with the EZ Trader trading account, the trader only needs to click the green or red button (as seen in the picture above) and the trade is placed. On the right side of the screen a trader can set the default dollar amount for each trade.
Trading robots in general always brag how their system has been back tested and results are 80% or 90% positive. We all know that this is total B.S.! An alert can be generated at 10:15 to buy a call on the $EURUSD when the Euro is trading at $1.3475, but if the trader only places the order 10 minutes later when the Euro is already up to $1.3480, the trader will lose.
The timing of a trade, especially with option trading, is a major determining factor of profit or loss.
EZTrader is a EU regulated broker, authorized by CySEC & MiFid. Read complete review of EZ Trader.
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