Program "Algobit": reviews. "Algobit": negative reviews

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

"Algobit", reviews of which vary among different traders, acts as an assistant in trading and at the same time is an innovative analytical tool. He is looking for highly volatile assets in the market at any given time. It signals the emergence of a trend that is just beginning to form.

According to the advertising of the product, Algobit helps even beginners to make money on binary options. Just by following the signals, you can safely accumulate profits day after day.

Creators about their creation

According to the developers, the main advantage of the program is that it is the first to provide the user with profit signals that indicate the beginning of a trend within the current market situation.

"Algobit", reviews of which in most cases are positive due to the active work of the project partners, is considered to be a revolutionary product in the trade and financial sectors. The program is the winner of two awards: “Best Product in 2012 by FinancialInnovationAwards (F I A)" and "Best Innovative Technology in 2012". According to the creators of the innovation, the program is able to determine the future direction of the trend with up to 99% probability.

It's quite common to say that creators over-praise their product, while the actual probability of an accurate prediction remains in the range of 80 to 85%. It is not worth believing too much in the numbers from advertising, especially in trading on the foreign exchange market. Moreover, the reviews of professional traders about the Algobit program often leave much to be desired.

Myth or reality

If you believe all the information about the program, then with its help you can not even consider the situation on the market yourself. It's enough just to follow the ad. Professional market participants, by virtue of their experience, warn beginners that no automated program will provide stable profits. Although it is able to find long-term and short-term trends, its effectiveness leaves much to be desired.

Professional traders focus on the fact that the use of the Algobit system, reviews of which the creator company and partners provided the best, will not allow you to earn money without applying your own skills and without analyzing the situation. Dry following any adviser is the first step towards draining your own deposit.

Signal sensitivity - time to beware

Quite often you can meet negative reviews about the Algobit program. The emphasis in them is on such an advisor's quality assensitivity. The specifics of the functioning of this part of the software is kept secret by the creators. Experienced traders have long figured out this trick. The bottom line is that the more sensitive the system reacts to market changes, the more often it gives false signals. The abundance of weak signals in the market and trading on them do not always end well for the trader. Experience suggests that signals from any Expert Advisor should be carefully filtered, taking into account only the strongest ones in trading, including those confirmed by other patterns and program indicators.

All the subtleties of trading with the program

For successful trading in the market, you need to be able to clearly identify the following points:

• Market entry point.
• Optimal position size.
• The most favorable time to close a deal.

The optimal position size is calculated using fairly precise formulas and has a clear relationship with the size of the deposit. Defining market entry and exit points is exactly what causes problems for most newcomers to trading.

As advertised, OptionBit has developed a completely free program that helps solve two of the most difficult questions in trading. The Algobit program, which reviews on the Internet are presented in the best light, works on the basis of algorithms that show the moments of the emergence of trends. The fact that the collateral does not require a purchase is doubtful, and, as you know, it is not profitable for brokers when all their clients trade in plus. Moreover, there are interesting statistics, according towhich only 2-3% of traders make a profit. The rest are losing. The inconsistency with the common truth of the foreign exchange market makes you wonder.

There is no magic EA

Experienced market participants, who trade well with you, are well aware that there is no single successful strategy or perfectly working Expert Advisor. Algobit, attracting the attention of beginners, the reviews of traders about which as a result of its testing are often sharply negative, is not able to replace manual trading. Although the creators talk about 99% efficiency of the tool, in reality it does not give even 65%.

After conducting preliminary testing, one of the traders recorded the efficiency of the signals from the program at 52%, which is not even enough to simply not lower your deposit. Any trading on the market, including binary options, is hard and painstaking work, which must be taken very seriously.

"Algobit", according to traders, may be a great addition to a proven trading strategy, but it is not capable of acting as the only tool for analyzing the situation. Market capriciousness cannot be correctly assessed by the program.

Simple signal is not the key to success

The Algobit program, negative reviews of which are much less common than positive ones, is very easy to use, which attracts many beginners in trading. On the left side of the terminal, you cansee certain underlying assets in combination with the current market price and signal strength. Opening a transaction is carried out by pressing the "Start" button. On the right side of the terminal, there are statistics on transactions with the size of the trader's earnings, inclusive.

All that is required of a trader is to carefully monitor the strength of the signal, and as soon as it reaches the maximum level, that is, when all the bars (yellow, green and red) are filled, you can safely buy an option on a certain type of asset.

We remind you that OptionBit's Algobit service with a negative connotation is more often left by beginners. They are indignant about the drain of the deposit and because of the incorrect operation of the program. The loss of money occurs because the software is used outside of the strategy. Using it as an auxiliary tool can help achieve good results.

Negative feedback about the program

As with most Expert Advisors, the available reviews of "Algobit" quite often recommend not to use it in trading. People write about the loss of deposits and the completely incorrect operation of the system, thereby repelling newcomers to the market from using the program.

The thing is that the automated system is based on certain indicators, which, as you know, are prone to giving false signals. Experienced market participants know how to filter them, but beginners blindly follow them, which leads to a gradual reduction in the deposit. An advertisement that promises everyone who uses the program to earn a million in the near future is blatantly lying. But the use of the instrument as part of some profitable strategy will improve trading results.

Clear exaggeration

Studying the reviews about the program on the Internet, you can meet the statement of traders that with its help it is possible to get a multiple increase in the deposit within an average of two weeks. Someone talks about growth by 230%, somewhere they voice the figure of 350%. There are even smart people who talk about a 720% increase in capital stock as a result of using the system.

Experienced market participants are well aware that this is nothing more than a clear exaggeration, but beginners blindly believe the promises. In fact, the system is able to make a profit, albeit a small one. In combination with other analysis tools, you can safely count on a solid 40%, if not millions, which is a very worthy trading result.

Rules for using Algobit systems

The program "Algobit", reviews of which are both positive and negative, can provide worthy assistance to a novice trader. Negative reviews are just a product of improper use of the program. It must be remembered that the software cannot predict changes related to the news, which makes its use on the eve of the release of significant economic data on the calendar ineffective.

Use the tool better to identify long-term trends. Strong sensitivity inherent in the product leads to the formationan abundance of false signals in the medium and short term. Do not rush to blindly believe everything that is written on the Internet. You can truly appreciate the offer from a binary options broker if you only test and analyze it yourself.