How to Make Money from Your Own Binary Options Indicator

How to Make Money from Your Own Binary Options Indicator

Submitted by adil on Tue, 02/25/2014 - 08:35

The binary trading market has been gradually evolving over the years and now it is considered as important and profitable as other financial markets. The regulatory agencies are on the verge of resolving all the issues regarding rules and regulations to control the market. These developments have enabled all stakeholders to position themselves concretely in the business and to take profits from binary options using their respective skills and products.

The Binary Options Indicators:

Developing and selling various binary options indicators is perhaps the best and easiest method to establish you firmly in the business. The purpose of these indicators is to generate market signals on MT4 (MetaTrader AppStore) that traders can later transfer to binary options market. Following lines explain how these indicators work and how people can use them to generate profits.

• Create a Trading Strategy:

Formulating a comprehensive and effective trading strategy is the first step towards profiting from binary options market. However, this is the most difficult part of the job and there are no shortcuts that could lead you to quick success. You have to work diligently and honestly while performing technical analysis of your previous trades. Similarly, it is important for you to understand your indicators and identify when profitable setups repeat themselves. If you can manage to do this part effectively, you can actually come up with innumerable strategies for trading binary options.

• Creating a Robot:

The “robot” is an important component of any binary option indicator. However, you need not to be a skillful MQL programmer to create one for you as you can hire any programmer to do this job for you. Usually everyone knows that MT4 is predominantly Forex software, still you should inform your programmer to optimize it for binary options market. This is necessary because it will make it easier for the software to communicate with specialized web based binary options platforms and yield better results for you.

• Host the Software on MT4 AppStore:

The MT4 Appstore more popularly known as the MetaTrader AppStore works on the principle of Apple and Google’s online stores from where people can buy various apps for tablets and smartphones and can also get them for free. The only difference is that the apps available at this Appstore are indicators and expert advisors especially built for both MT4 and MT5 platforms.

The registration process is quite lengthy as you have to get registered with the site first. Subsequently, you have to register the details of your software. Then you also have to provide a copy of the software so that the Appstore can review and approve it. After approval, you can upload full or demo copy of your product and can also offer money back guarantee for some days to attract more customers. The demo copy will let the user check the efficacy of your product without being able to use it on a live account. The actual copy will always work only on a single computer or a trading account. After uploading the copy on the AppStore, you need to promote it as well.

Promoting your Product:

Promoting any particular product is all about how effective and aggressive your marketing campaign is. The best way to promote your site is to advertise it on high traffic blogs, social media networks and online forums. Once you get first few clients and they are satisfied with the product, they will also start promoting it through positive reviews and your business will definitely be up and running.