The Penny Millionaire semi-automated software for binary options is potentially one of the best binary options trading software for the 2017 New Year. Time and time again I have come across automated trading systems that are complete scams and the only purpose they serve is to scam newbie investors out of their hard-earned money, which not only is absolutely pathetic but also reflects quite badly on this vast and rewarding industry that we know as binary options. Today though I am back with a strategy that I’ve been using with the Penny Millionaire software that has allowed me to generate a cumulative profit just over $3,070 within a 7 investment day period while using Penny Millionaire.
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Brief Penny Millionaire Oversight
Now for those of you who haven’t read our Penny Millionaire Review, I am going to provide you with a quick oversight in regards to the ins-and-outs of the Penny Millionaire software. The Penny Millionaire app, founded by Danny Forrester, is the first binary options trading software that offers compounded interest to existing segregated investment accounts at a whopping percentage of 6%.
The Penny Millionaire software is a semi-automated trading system that has an average reported success rate between 73 to 85%. It provides up to 20+ investment signals per day (although you should only place 3 to 7 investments per day to ensure you aren’t overtrading), and is positively reviewed by over 15 reputable websites and forums!
The software functions with a direct Reuter module that implements their complex Price Action Trading Strategy algorithm to ensure investors are getting the best high probability investment signals for market reversals at the best rate possible.
Penny Millionaire Investment Results
In the picture provided above is my most recent success with the Penny Millionaire software. As you can see, I had a total of 7 investments, where 6 of them landed in-the-money for today, giving me a cumulative profit of $964 with a success rate just over 85%. Today has been my best investment day with the Penny Millionaire software and I plan to continue sharing my results for all of you to benefit from and see.
Moving forward, in the image provided below you can see a chart in regards to my profit growth over my 7 day investment period with the Penny Millionaire software to date. As you can see I started with an account balance of $500 and after a 7 investment days I have experienced an account growth of almost 716%.
76% Success Strategy Set-up
The strategy that I use most of the time when I am using this system is comprised mostly of a technical analysis input with a little fundamental analysis as well. The fundamental aspect that I first take into consideration when I am planning to use the Penny Millionaire software would be to check to see if there are any market reports and press releases that could potentially hinder the accuracy of this trading software. If I see any press releases that I feel could directly or indirectly affect the currency pairs that I tend to invest with when using this software, I just void investing during those hours and wait for a more suitable investment period.
If you are unsure where you can see upcoming press releases just know you can check out all future press releases at the Forex Factory website. One truth that you need to bear in mind as well would be that the Penny Millionaire runs on a complex algorithm that integrates and functions in the price action of numerous currency pairs. Therefore, the software cannot take into account for checking for press releases that may affect the supported currency pairs. This is why it is always important to check and make note ahead of investing.
Remember, the main purpose of a Price Action Trading Strategy would be to help investors indicate, plot and take advantage of high probability reversal signals that may occur in the market. Historically and statistically speaking, Price Action Trading Strategy has a success rate no lower than 70% which is why it is so effective when investing binary options but you also have to make sure you are implementing the strategy and taking all other fundamental and technical analysis factors into account.
Now moving forward, the technical analysis approach that I implement and rely mostly upon when using the Penny Millionaire software serves more or less as a secondary confirmation. The first thing that you will need to do would be to make sure you have access to a charting solution such as MetaTrader4, MetaTrader5 or FreeStockCharts.com.
Once you have your charting solution up and running you want to make sure to select a few different currency pairs to watch and have it on a time frame of 15 minutes.
Next, you will want to make sure that you add the RSI indicator to your charting solution at a value of 9 (as seen in the image below), along with the Momentum indicator and set that indicator to a value of 10.
The last indicator that you can choose to add to your charting solution but is not mandatory would be the Donchian Channel indicator set at a period of 25 with an offset value of 1.
The main function of the RSI and Momentum indicator would be to help day-traders gauge and better understand the market momentum and volatility behind a targeted asset, while the Donchian Channel serves to help investors plot and indicate market highs and lows that help in the process of finding reversal points.
Strategy Application and Tips
Now, before we dig deeper into the application of this trading strategy there are a couple of tips that I have found quite useful to apply when investing with the Penny Millionaire trading system.
The first tip would be to make sure to only place investments that have a confidence factor of 91% or higher. The higher the confidence factor of your investment signal the stronger the investment strength is, so the higher the confidence factor is the more probability of your investment landing in-the-money. I tend to only place investments that have a confidence level of 91% or higher and that works in correlation to my strategy.
The second tip that I would recommend implementing when applying this strategy would be to choose an investment that has an investment deadline within 30 minutes of your current time. I have found that placing more long-term investments with this software to be quite profitable but in regards to applying this strategy while using the Penny Millionaire software it is best to choose investments that have an expiration deadline time of 30 minutes or less.
In the image provided below you can see the technical analysis set up that serves as our confirmation for this strategy while using this software.
The first verification indication in this technical analysis set up is when both our RSI and Momentum indicators have a probability of reversing directions. These reversal points can be plotted when there is a sharp spike in both the RSI and Momentum indicator. In order for a bearish reversal to be evident, you will need the RSI indicator to have a value over 75.00 but no higher than 95.00, whereas for the Momentum indicator you will need to make sure the value is over 100.250, the higher the value, the more likely a reversal will take place.
Now, in order for a bullish reversal to be plausible, you will need your RSI indicator to reside within value between 05.00 to 25.00 and for the Momentum indicator you will need to ensure that the value is below the 99.800 level.
If both your RSI and Momentum indicator line up in correlation to the recommended Penny Millionaire investment signal then you can go ahead and place your high probability investment as long as your signal matches the same candle type present for your asset.
So if you have a PUT signal, you will need to make sure that a bearish candle is present in accordance to your confirmation steps.
If you have a CALL signal you will need a bullish candle present, once all have been achieved then you can go ahead and place your investment.
Typically I recommend starting out with a passive money management approach, which requires you to place between 5 to 7% of your account balance per investment until you become more comfortable and get some investments under your belt. The more comfortable you become with the software along with the application of this strategy then I say it is safe to start investing with a more aggressive money management approach, which would equate to 10% of your trading account balance per investment.
One last tip that I can provide you with as well would be NOT to chase investments that land out-of-the-money. More often than not with semi-automated trading software that end up being scams they end up urging investors to double up their funds lost (similar to a Martingale Strategy) with the hopes that they can redeem the profits lost with the previous investment along with generating a small profit in the process. Not only is this one of the worst suggestions a trading system, software or service could recommend but it completely throws away all proper money management techniques that should be followed with strict discipline. Luckily for newbie investors though the Penny Millionaire does not recommend this unethical investing tactic and it does not generate Martingale prioritized signals so you know the signals received are strictly just generated with the specialized Price Action Trading Strategy algorithm meant for high probability reversals.
What Other Blogs Are Saying
Binary Options Watchdog: “Penny Millionaire is not your everyday run of the mill trading app. It is new and unique with awesome potential.”
Binary Options Spot: “…we managed to convert a $250 balance into $1,900…Overall the average in the money ratio for the period is 79%, and that’s also remarkable achievement.”
Binary Options Brainery: “Penny Millionaire is one of the few reliable trading systems available to binary option day-traders; no gimmicks, no bullshit, just straight up results for once!”
Binary Options Sheriff: “The principle of compound interest as explained by the best financial gurus of all time leave us in no doubt that you can make serious money with the Penny Millionaire software.”
Binary Options Sentinel: “…the trading performance and quality of the trading signal are top notch too. We strongly believe an inexperienced trader or even a complete newbie will be able to benefit for this trading signal software too.”
Prestige Binary Options: “I’m pleased to announce my final verdict, concluding without a shred of doubt Penny Millionaire autotrader is NOT a Scam, but a profiting trading machine everyone can enjoy.”
Binary Options Governor: “After going through all the info I am a little bit more convinced than when I heard the name first. Feedback and reports I have been getting have been good, the website and the trading platform look good as well.”
At first glance the Penny Millionaire software typically gets classified as another moronic binary options trading scam but for once we have come across a binary options trading system that doesn’t promise any ridiculous claims and actually delivers profitable and proven trading results.
When applying this strategy while using the Penny Millionaire App make sure to have the correct set up, follow the tips provided above and make sure not to chase any investments! When using this strategy in combination with placing investments with only a confidence factor of 91% or higher within the allotted time frame you can expect success rates ranging from 76 to 81% on a weekly cumulative basis, or at least those have been my results after my 7 day investment period with this software!
As always if you have any questions you can feel free to leave a comment below. Make sure to stay tuned for another informative Penny Millionaire strategy article to come along with many more educational articles to come!