How to use OptionBot

A few month ago I reviewed a product called Option Bot.   I’m a huge fan of the software, but I don’t feel that the creators did enough to explain how to use it properly.  I also find the support hit and miss, sometimes they get back to me very quickly, but sometimes they close my support tickets without replying, although someone there did explain that they don’t reply to questions about systems or strategies as they “encourage” the users to find their own settings, so I did just that.

In fact, one of the first things that I did was try to understand their method on the homepage video.  This is made slightly confusing since the video shows 3 pips being displayed as 0.030 and they have now changed this to just say “3 PIPS” a move that they say they did to avoid confusion.  I’m not quite convinced that they succeeded in avoiding confusion, but I do know that their software is actually very good, and I fully intend on emailing them this blog post once I’ve written it, as hopefully they will include this key ingredient in to their main strategy.

SO HERE GOES….

CLICK HERE TO DOWNLOAD OPTION BOT

If you want to know how to use option bot like me, then simply watch the video above, this is a video of me testing 3 binary bots that are all available at the moment, and you’ll see quite clearly that option bot is the only genuine one out there.

Firstly, when you launch the OptionBot software for the first time, you absolutely must open an account with a broker from within the software, and there is a very good reason for this, the software can pull the data feed from the platform you are trading at, but only if you are optionbots customer.  It’s a deal that the creators must have struck with the binary platforms, but I’ve traded on platforms that I’ve opened both in and out of the software and I found my success rate significantly higher on the platforms that I opened within the application.

My success rate was in the region of 72% on Banc De Binary who I already had an account with, but when I opened an account within the application with Trader XP I immediately noticed 2 things.

One was that I was getting way more signals than I’d been getting before, the whole column on the left of the screen had filled up in less than 30 minutes.

The other thing I noticed was that I was winning more trades, now about 80% of trades were successful.  I emailed support about this, and they explained that option bot has their own premium data feed, but that it connects to the platforms feeds to verify that the feed data matches.  This allows the triggers of M15, M5, M1, M30 and H1 to be accurate.  Without the second feed is can only analyze 6 of the 15 pairs at anyone time, so the signals aren’t as frequent.

I did ask support why they didn’t make this clear, and they simply said that they advise all customers to open accounts within the software, and that they didn’t want to bring up technical points about the software that don’t concern the customers…. hmmm… as I said before I love the software, but I’m not sure about their customer skills.

Anyway, now that I was armed with new option bot information, I started to do a bit of research about the behaviour of certain currencies, as I noticed that I was getting an increasingly frequent number of JPY, ZAR, RUB and TRY pairs being alerted to me.  These were also the currency pairs that I tended to lose on.

In my research I discovered that these are deemed volatile currencies,  ZAR, TRY and RUB because of their economies are struggling at the moment, and JPY because their economy is very strong over the rest of the world. Resulting in frequent movements in excess of 3pips throughout the trading day.

Further to this, I found that the more popular currencies people tend to successfully trade on are the more predictable ones, like the Euro, The British Pound, US Dollars, Swiss Franc etc.

So the first thing I did to improve my trading out comes on option bot was ditch the the 4 big movers, ZAR, TRY, RUB and JPY.

The second thing I did was take advantage of the charts that option bot have on their application, whilst they tell you what the chart is there for, they don’t tell you how to use it.

What I now do, and what I demonstrate in the how to use option bot video above, is when I get an advice I always check to see how that pair has performed in the proceeding hours.  If there is a downward or upward trend that is going in the same direction that option bot has advised, then I will place a trade in the opposite direction, just like option bot tell you to.

But, if the trend is in the opposite direction to what option bot is telling me, I will wait until it’s position reverses and only then will I place my trade.

If the chart seems to be quite flat, or neutral then I will not place a trade at all, I will ignore that currency advice.

This is almost everything you need to know to place more winning trades with option bot, but there is one final piece of information that you should have.

Trade with as little time left until the expiry as possible! As you’ll see in the video, I place trades when there is around 2 minutes left before I can no longer place a trade.  I very seldom lose a trade within this narrow window of opportunity, and I never purposely place a trade that has an expiry over 30 minutes away.

So to summarise the following market conditions on setting M15 and 3 pips on Option Bot are:-

  1. Ignore ZAR/RUB/JPY and TRY
  2. Check the chart
  3. The closer the expiry the better

Since doing this I am winning far more trades that  I was in the beginning.  Well over 90% of trades, and I sincerely hope the people at option bot take notice of my blog today and perhaps include this information on their site as they have a great product.

However, I can’t take all the credit for this strategy because I did actually get the idea off of the option bot homepage in the section pictured  above.

But it wouldn’t have killed the guys at option bot to have simply made it a little clearer to people using the software that it doesn’t hurt to check the variables manually.

My closing thought on the software, is that it’s got all the basics for a great bit of kit, but I’d like to be able to choose which currency pairs I want to advice from, and in the future I’d like to be able to customise individual pairs to get even more great results.

If anyone else has another strategies they want to share on my site, please feel free to use the comments box below.  I’d love to hear how other optionbotters are doing.

 

You can leave a response, or trackback from your own site.

51 Responses to “How to use OptionBot”

  1. Mike says:

    this OptionBot is awesome, I trieded it some times and its kill! Merry Christmassizle!

  2. George says:

    I’d like to be able to choose which currency pairs I want advice from, and in the future I’d like to be able to customize individual pairs to get even more great results.

  3. Steve says:

    Hi
    Read what you have said but it seems you are missing a trick to increase your hit rate further.

    If the bot says a call and the protocol is go in opposite direction but the chart trend is against the bots call, surely you should go with the bot ? I have not tried if but the logic should work ?

  4. Julian says:

    I’m sorry to report, OptionBot is NOT working at all. I let it run for two days and I did not get ANY signals. Deactivated firewalls and virus scanners, no effect.

    I tried the knowledge base, not help there. Raised a ticket with support, no answer so far.

    Ideas anyone?

  5. Sandy says:

    Great video Gary. Very helpful. I am on a trial basis right now but plan to purchase it.

  6. Sonia says:

    Hello

    Thank you for this blog. I bought Options Bot about a month ago because I was convinced it was a very good tool, but the maker of the software does a lousy job of explaining how to truly harness success from using it. You did an excellent job explaining how important it is to open the accounts within the software and using the charts to your advantage…none of which the maker of the software bothered to do on his website. I often notice the list of brokers in the drop down menu keep changing? I just opened up the software, and there are only 5 brokers listed when only a few days ago there were at least 10.

    I was about to go to Clickbank and request a refund until they sent me a link to read your blog. Their customer service leaves very little to be desired. The video on your blog however won’t play?

    I will definitely try your strategy and make a more informed decision then, but thank you for your great insight. You’ve re-installed my confidence in the software and the maker.

    To our success and more winning trades!

    Sonia

  7. Mandy says:

    Thanks for this information. I might give optionbot one more try. The days prior to the launch i couldnt sleep at night i was so excited and couldnt wait to download it and then when i did and tried it quite a lot, there was seldom any winning trades and wiped my account balance out in a matter of days. Will open a demo this time and try your strategies…

  8. Gary Davies says:

    Julian,

    Your problem isn’t a common one, but you’re not the only person that has this problem. Something on your computer or possibly even your internet provider is blocking your feed, and we do not have a way of diagnosing faults like this remotely.

    I assume that the stock ticker on your version is showing zeros too?

    One thing you can try is go http://www.optionbot.net/download and re-download the installer. Once downloaded double click the installer and then click RUN – When you do this you will have 2 options Repair (which is highlighted by default) or Remove. Make sure Repair is selected and then click FINISH.

    This will update your software to the latest version, if the problem still persists then please email me at info@optionbot.net or contact the support staff through the tickets and we’ll try to find the cause and work on a solution for the next update, which will hopefully be in January.

    To anyone reading this comment, the above “repair” process fixes 90% of problems, so please try this before contacting our support desk.

    Lastly, thank you to Gary @ Freebinaryoptionsystem for putting up this post, I’ve had many happy customers contact me about this, they are quite impressed as am I.

    Gary Davies
    [Option Bot]

  9. Shadow says:

    Thank you for your insight. I also believe OptionBot is an amazing tool but will now test your insight because I need a way to minimize the loss percentage. I discovered that I win in blocks and loose in blocks as if the signals are all correct and then all of them are too late or too early. However thank you for your effort and in sharing this. This way everybody wins and your sight will be one of them. Bless you and your warning regarding the Robot that does not work will spare a few people a lot of money.

  10. Angus says:

    Loving optionbot… Using this new strategy, I have refined my method even more. Just won 9 trades for a profit of £1600!!!!!!!

  11. Neil says:

    Thanks for the video. I was confused about portions of Option Bot especially not knowing how long to make the trade for. Since the3 pips in 15 minutes was being used. Should I make the trade in 15 min. increments?

  12. Simon says:

    Ha ha ha ha, ur vids is hilarious! I luv how uv slamd the other too bniary robots for being toally uselss LOLOLOLOLOL!

  13. Silas says:

    This is far the best video & info i ever seen on the internet about binary option i really think this going to help me out for the best THANK YOU!!

  14. ron says:

    I have been using their trial version and i been frustrated by option bot poor customer service and their failure to answer any questions about how to use their product. I was about ready to move on until i received your video and your instructions on how to use the product. thanks for your efforts, option bot owes you big time. when i sign up i want to make sure you receive the commission is this your affiliate link
    http://www.optionbot.net/buynow/ if not forward me the correct link.
    P.S
    in your video were you using M15 or M30 expiry times. does this work on M30 time frames and what pip range should be used 3 pips 5 pips etc. again thanks for the info.

  15. Kingsley says:

    I saw how Binary Wealth Bot poped up during the video. Can u please make a video about the binary wealth bot? just to show us how it works

  16. LK says:

    Hi Gary, nice video. I have had Option Bot since October but didn’t know how to use it. Your video help greatly. However, almost all the signal I am getting were involving JPY which is not recommended by you to trade. Any idea how to fix this? One thing to add, I received the Option Bot free of charge earlier on, could it be they programmed it such that it only gave JYP pairs for the free version?

  17. Brian Fisher says:

    Hi, Fellow and Mistress Boters..

    I’ve been using “the Bot” for a few weeks, with very mixed results, trying to trade every USD/JPY I could catch… Mornings seem to work well, but afternoons have been very poor…So I’ve traded badly overall. I am very thankful for the insight in this blog and will check it out as it makes great sense… Saying that…You have advised us not to trade with certain currencies. Every trade I am given involves JPY. As this is one to avoid is there something wrong with my sofware ? Secondly and quite frustrating a good signal is given just too late to trade and so I have to wait another 15 mins or 30 mins before I can trade with the signal and then it is often too late… SO any assistance re my comments would be gratefully received and now back to the drawing boarding hoping to become more consistently successful… Thanks Guys and Gals..

  18. don says:

    I too am trying the optionbot. Unfortunately, the only signals that I get has to do with JPY. I haven’t gotten signals so far for non JPY pairs. Could someone help me please?
    Also, I would like to point out that if you are using JPY pairs, EUR/JPY is the best, but only on Mondays and sometimes Wednesdays.

  19. Ash says:

    Hi Gary,
    Excellent video. Clears up a lot of things for me. What would be the best time to trade? I am from the UK.

  20. Vinh says:

    Thank you Gray for taking time to give insight and making the video. This is very useful for by personal experience with Option Bot, you are more than completely right. The additional info how to use Option Bot Chart is very useful and had help me to improve my winning ratio more than 5% (I am now at about 75% winning trades).
    Also want to share my own tips for anybody still struggling with the results for different reasons.

    Here they are:

    Tip #1: Trade at opening & closing time of the market (more volatility+ more chance to win);
    Tip #2: Use pattern 3 patterns to confirm enter time:
    * Pattern 1:” Head and shoulder” (mini mountain, big mountain then lower mini mountain for trading PUT and vice versa for trading CALL) before entering;
    * Pattern 2: 1-2-3 up to trade CALL and 1-2-3 down to trade PUT;
    * Pattern 3: Right before enter, wait for a “pull back” of the chart to maximize your chance to win;
    Tip #3: Wait until the end of the 15 min.(on M5 Chart) cycle before entering the trade as Gary just suggested (as close as possible to the expiring time)and use another chart to double check with the time frame chart of M15 to make sure the trend is still strong on your favor.
    Tip #4: Last but not least, DO NOT TRY TO CATCH UP THE ¨PREVIOUS LOST!!! When you start to lose 3 trades in a row, leave your trade station to refresh and recompose your mind (drink fresh good water to re-oxigenize your brain)to escape the hypnotic effect of the losing trend.

    That’s it. Hope that helps.

    Good luck to all.

  21. Vinh says:

    Sorry,just forget to ask you for your and other peoples comments about my post. Thanks. Vinh

  22. admin says:

    Wow what a great response. With regards to people’s issues with JPY pairs only showing perhaps following Mr Davies repair advice in his comment post would help. I do know that there was a feed fix a few weeks ago and it’s not automatic, you need to redownload the software.

    Really liking the tips other people are offering too, does anyone think that an open forum where option bot customers can share trade advice/tips would be a good addition to the option bot website? Would Mr Davies care to comment? God knows you don’t answer my support tickets :-)

  23. Brian Fisher says:

    Hi Guys and Gals,

    Thanks for all your emails, tips and comments.. As a side issue, have you had any difficulty withdrawing funds from your accounts… I must admit that I have found some very slow. From my experience, don’t accept any bonus from the traders as they use this to make withdrawal regulations very difficult to achieve… Perhaps I might be wrong, so your advice and experience would be most helpful..

  24. Anonymous says:

    Thanks for the video. I think you answer many questions people have when using option bot. I will come back after using your strategy and tell how I did.

  25. Michal says:

    I think an open forum would be a great idea.

  26. Lindsay says:

    Heeyyyyy

    Excellent vid

    I went up in profit in 2 days from uk £100 to over £400. Then i started to loose alot but still in profit.

    I started to loose many ZAR JPY trades i was making.

    What i would like to ask is which trading time do you think works best 15mins or 5 minute trades?

    Would really appreciate a response as im not sure if i was also being affected as all my trades are 15min trades as Stock Pair do not do 5min trades…

    Look forward in hearing from you.

    Thanks for making this video i think you have made things clearer for alot of people especially newbies like myself

    Lindsay

  27. KK Manasseh says:

    I must greatly express my gratitude for your video on hoe to usee Option Bot. I have been going on every signal without checking the charts or time of expiry. I just read your blog and watched your video and placed 4 trades and were blown away that all 4 were winners. Frist time ever. Thanks again for your insight and trading method. God Bless.

  28. Alan says:

    Thanks Gary for your tips on how to trade with Option Bot.
    I’m going to implement them as soon as I can.

    I thought the idea of a forum is excellent for everyone participating, and I hope the idea gets off the ground.

    Happy trading, everyone!

    Alan

  29. Shadow says:

    Gareth, seems Gary reads this post. Just advice. If you lower to 2 or even 1 pip you often get more signals from other pairs, those with the JPY problem. I tried 5 and 6 pips which didn’t really influence my winning trades. Surprised that you suggest trading as late as possible. Trading with 9 or 8 minutes didn’t give me better results than 20 minutes. I picked up that my results had a see/saw effect and suggesting looking at the trend might solve this problem. Easy Binary Income appears to be an earlier version of Binary Wealth because it also doesn’t fit the screen and you can’t figure out what to do with it. I second an OptionBot forum.

  30. L says:

    I am having trouble opening the Banc de Binary tab on the platform. Is anyone else having trouble with this? It says “There is no access from your region.” I believe the tab used to work before the update…if it’s any help I live i the US.
    Thanks for the help!

  31. david says:

    Julian says:

    December 11, 2012 at 4:25 pm

    I’m sorry to report, OptionBot is NOT working at all. I let it run for two days and I did not get ANY signals. Deactivated firewalls and virus scanners, no effect.

    I tried the knowledge base, not help there. Raised a ticket with support, no answer so far.

    Ideas anyone?

    I also have had the problem no numbers on the ticker but I can pull up the trading platforms. My problem is Windows vista 32 bit. They said recently in a e-mail they are fixing the problem. I did try on my dads 64 bit system with vista and it works great I was up in ten minutes. can’t wait for the email that says they repaired the problem. Hope it helps
    Dave

  32. Joyce says:

    Hi Gary,

    What a breath of fresh air you are!

    I’ve lost money twice on the option bot, was going to give it up
    as a bad job, as you say they are not good at explaining very well,

    so I’m going to give your suggestion a go and see if I’m more
    successful this time………

    and I think a forum would be a great idea…..

  33. Al says:

    Thanks for the info Gary,

    Do you ever use 60 second Binary Options?

  34. Adrian says:

    I live in Australia, what is the best time i could trade using the optionbot.I will appreciate every any advice pls

  35. lara says:

    Can someone tell me what the trading platforms in Option Bot are?

  36. Mats says:

    Thanks for a very informative video and info about the product, i have used it for a trial period with mixed results. Due the lack of support from the support team i was not going to continue with the software. Now i have changed my mind and i will give it a try. Thanks!

  37. eric says:

    Hi Gary thanks for the info im about to quit forex but your info is worth trying it again, however the pip setting in my option bot is still 0.030, how could i change it to the new version of 3PIPS?

  38. Jon Tancock says:

    Hi Gary

    This has proved very useful as I was convinced this software is good, but the trick lay in configuring / interpreting it correctly, which you have now highlighted, so thanks again. I too had problems with just JPY pairs showing, but the latest download combined with ensuring that at least one of your accounts is opened from within the platform to ensure the additional feed, has fixed it.

    There are a number of folk looking to get into a trading group, so if you are interested, please add me on Skype and I will add you to our independent group: jontancock

    Thanks again and good luck

    Jon Tancock

  39. Julian Halkon says:

    Hey David,

    all my systems are 64bit, so I can’t test your tip.

    I can get the platforms up, but I don’t get any signals and all the ticker numbers are zeroes.

  40. Shadow says:

    Lara, the trading platforms are just different brokers and you need at least one to place your trade with. As far as I know the 32 bit issue have been resolved and it should not be a problem anymore.

  41. Sharitage says:

    I don’t see anyone else claiming to have the problem I am having with Option Bot.
    When I try to log into my accounts (Trader XP / Traderush, etc) I cannot even find the log in button. Only about 2/3rds of the page shows when opened in Option Bot.

    How do I see the whole page?

  42. Brian Fisher says:

    hi Gary, Regarding Trading Platforms. I have three trading accounts, two are on the list which Option Bot include… thanks, but the best to deal with, based in London and a group very helpful guys is ONETWOTRADE. Thanks

  43. Chris Barton says:

    Lara: Currently there is: Trade Rush, 24 option, Option Bit, XP Markets, Options click, Stockpair, Cititrader, Trader XP, Any Option, Banc de Binary, and Binary Options Capital.

    This has changed a bit, with Anyoption being added recently.

    Gary: Just wondering about your use of the charts. I have been using the charts too, but using them in a slightly different way. Just wondering if I was off – When I look at the trend of a currency pair, and see it is going up, I look for a signal with Option Bot which goes in the other direction and then place a position going back towards the general trend. My thinking was that it is more likely to continue on the trend than buck it, so I look for opportunities to “go with the trend”.

    So if there has been a 3 pip change against the trend (down, for example), place a Call position.

    Is my thinking wrong?

    Cheers for the video,

    Chris

  44. richard jenner says:

    hi

    the only problem i have with these videos are the fact that you have made 6000 over 2 months yet suddenly you make 1500 in 30 minutes at that rate you should make 6000 a day ,, shows that this only works less than 10% of the time along with your other so called systems
    if this does not stay on i will post on an other forum

  45. admin says:

    @ Richard Jenner, I had problems with the software in the beginning and it took a balance of $1000 down to around $200 at one point. It’s taken me all this time to build my balance up to over $8k and fit in a full 9-5 job so I’m still quite happy with the results. I stake 10% when choosing trades, and at one stage this amounted to just $20 per trade, not the $699 I demonstrate on the video. But you’re quite right, the market conditions that I trade to aren’t there all the time, I’d say that I probably don’t even trade as much as 10% of the trades the software alerts me to, more like 5% in all honesty. You need some wits about you when trading.

    @ Sharitage have you tried adjusting your screen resolution? I have a laptop I trade on and the settings are 1366 x 768

  46. Eiseprod says:

    @Sharitage: To get to the login area of trade rush, use the tab key on your key board and to get to the start again, simply click any tabb like Deposit, then after that opens click on trading platform tab which should reset it to the beginning. Its a work around really

  47. James says:

    Hey Gary
    Yes like most of the other people i lost so much money due to inadequate advice and i thank you for taking the time to make this video and write this blog and i hope it makes you feel good to know that your helping your fellow users out. I in a way was glad to see Richards comment as i believe he wasn’t having a snipe at you, just pointing out the obvious and i’m glad you didn’t take the comment the wrong way as i don’t believe he meant it in a bad way,and now we know why because you work full time. What is your day job might i ask and would u look forward to a day when you can trade full time?
    I often considered a career as a trader and learning from the experts such as the guys who created this software, they must get their knowledge from somewhere, is there such a thing as learning to trade binary options full time? Can binary options be better than the current trading of commodity’s and Forex?
    From a curious user and friend
    James.

  48. ridha says:

    Hi Gary!
    Could we use option bot within 60 second option.It looks to me that trading is like gambling. we might win within an 15 minutes and lose everything within the other

  49. Gold says:

    Thank you so much for creating this video. While reading your blog I came to know that some users are not able to use that software. I know the solution anybody who not receive signal feeds may contact me at gold_opp@yahoo.com I will fix there issue remotely using team viewer.

    Thank you

  50. admin says:

    This is just the nature of trading, this is why I use option bot, so that way I can reduce the risk

  51. admin says:

    I’m a recruitment consultant by day! I just trade and blog in my spare time.

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