The trading of binary options on an automatic basis has been the desire of many traders who are either too busy to trade or do not have the time to scan through charts and analytical tools before making trade decisions. However, due to the fact that all brokers use web-based platforms in this market, the concept of designing trading software for use in automated binary options trading has largely been a pipe-dream…that is, until now.
First, a company called OptionBot came up with a tool which was described as the first binary options robot. However, this tool did not really meet the criteria for software that was able to perform automated trading in the context of analyzing the market, selecting trade size/investment amount and then executing the trade.
But thanks to companies like Google and Firefox which created web browsers with add-on and extension capabilities, the story looks set to change as this technology can now be harnessed by binary options traders and their programmers alike to create true auto-piloted trading in binary options.
The Autopilot Solution
Google Chrome is the web browser of Google Inc. This software permits the creation of scripts which can create a functionality that allows the user to communicate with the web browser to achieve certain browser actions.
So if you are able to create a binary options trading extension, you can simply download the Google Chrome browser, load the extension, and then open the web-based binary options platform. As long as the platform is open, the extension can communicate with the browser to open and close trades according to the trader’s strategy configured into the Chrome extension.
The future of software development is always changing. The challenge with the current autopilot solution is that it requires the web browser to continuously be open for the extension to continue working. The next frontier for developers would therefore be to create a solution that would ensure that the extensions continue communication with the web-based platforms.
This problem existed in the forex market where forex robots could only execute trades as long as the downloadable platforms were open. The invention of the Virtual Private Server (VPS) solved this problem for good. By communicating with the server on which the trading platform was hosted, it is now possible for the robot to communicate with the trading platform at server level as opposed to the level of the trader’s desktop, PC or mobile phone.
So what would be the solution for the binary options traders? Perhaps the extensions can be built to connect to the web-based platforms at server level, i.e. at the server where the webpage bearing the binary options platform is hosted. Whatever the case, this would be for programmers to decide.
How Binary Options Traders Can Use This Technology
As a binary options trader, you may not be overly concerned with the technicalities of how to develop a Chrome extension, but you could surely use the services of a programmer that knows how to deliver this service. Perhaps you have a strategy that you want to convert into a true binary options autopilot. There are endless possibilities. You could use this to trade for yourself, or perhaps, sell the software licenses to fellow traders either on a one-off basis or on a subscription basis. You may decide to sell the signals as well.
Right now, the binary options autopilot market is one that is virgin and very hot, waiting for those who can capitalize on it to make a killing. If you truly want to make money from the binary options market, this is an avenue that can enable you monetize your trading skills.
Thanks to freelance sites, it is easy to get access to programmers with the skill to develop binary options autopilot software at an affordable price. This is a product whose time has come.