Introduction
Blue Sky Binary (BSB) was launched in 2014. According to its home page, “Blue Sky Binary Group is the world’s first 24-hour members-only options trading group that allows you to generate a few hundred to a few thousand dollars each day on your options account by following the trade recommendations of senior and experienced option traders.”
In fact, BSB is extremely unique in that all of the trade signals really do come from experienced professional traders, and these traders are genuine people who are not afraid to use their real names! There are currently five different expert traders who are providing signals on behalf of BSB, with a %ITM (in the money) often well above 70%. In addition to providing signals, these senior traders are available to help answer questions and provide a second opinion in regards to any non-signal based trade you may be interested in taking. In other words, BSB is not just about giving out signals, they provide education and training too, and an online community (currently via multiple Skype groups) ensuring a positive experience for all its members.
How Much Does It Cost?
BSB represents outstanding value for money, and they will not force you to open a new account with a recommended broker in order to join – a very big thumbs up for a signal service.
They offer a one week free trial period. Typically, a week is more than enough to test the accuracy of any options signal service. Once the trial period is over, those who decide to continue to receive signals will be billed at a rate of $49.99 per month. This amount is substantially less than what is charged by many signal suppliers. What’s more, anyone who pays for the first month and feels for any reasons that the service has disappointed them can request a refund for the first month’s subscription cost.
Visit the BSB website to complete the easy sign up process. Registration requires only basic information, however, you will need to have a PayPal account in order to participate. All registrants will instantly receive the free trial period after completing the quick subscription billing process via PayPal. Should the decision to be made not to keep receiving signals, simply cancel the automated billing request via PayPal before the seven days have passed and the monthly service billing will not occur. Should you have any additional questions about how this works, contact the customer support team.
How Are The Signals Sent Out?
All signals are delivered via Skype. Once registered, traders receive access to the special "trading rooms" which can be used to speak directly with at least one of the five market experts 24-hours per day. As part of the Blue Sky Binary Group, support includes assistance with personal trade ideas, as well as basic education in relation to options trading. Novice traders can receive unlimited 1-on-1 assistance - something which is generally not provided by signal providers. Signals can be a wonderful thing for first-time traders, but they should not replace the need for understanding the fundamentals of this form of trading.
Although some may prefer text messages or emails, BSB does tell traders the hours during which signals will be delivered. Trades can be executed during various market sessions including:
- European Session: (Starting at 7am GMT - Runs For 4 Hours)
- United States Session: (Starting at 5:30pm GMT - Runs For 3.5 Hours)
- Asian Session: Various Trades (Starting at 1am GMT - Runs For 4 Hours)
These sessions provide plenty of opportunities to enter into trades, regardless of location. As mentioned earlier, BSB does not force sign-up to specific options brokers as a way to join (but will tell you which to steer clear of). Instead, the focus is on delivering the best possible signals and nothing else, which is quite refreshing.
How Accurate Are The Signals?
Signals are derived using a variety of indicators such as Bollinger Bands, BBW %, RSI, and a custom 'Slope' indicator. New strategies are being developed and introduced on a consistent basis. Each senior trader boasts a different accuracy percentage, but traders can expect to profit from at least 60% of their signal-based trades, with up to an 80% accuracy rate under less volatile market conditions. In some cases, the accuracy rate can hit an amazing 90%.
Many of the signals that are produced are for use with 15 to 30 minute expiry times (with a five-minute entry window). Blue Sky Binary also provide a lot of turbo trades. These are derived via the use of MT4 charting tools which produce signals for 3 to 5 minute expiry times. The accuracy rate on these trades is very impressive, approximately 80%! When these rates are combined with the fact that up to 20 signals are released daily, it quickly becomes clear that the profit potential is massive.
Pros And Cons
The pros are many, with the most obvious being the fact that humans create these signals, the low monthly cost, high accuracy rate, and the fact that subscribers receive much more than just signals. While veteran traders will obviously love this system, it just may be novice traders that receive the most from it. Far too many first-time options traders register with a broker, submit a deposit, swiftly lose that money, and then never trade again. It doesn't have to be that way. Education and accurate signals can produce a much better outcome.
The only potential cons would be the fact that Skype must be used to receive the signals. Additional delivery methods may be added in the future, but for the time being, Skype is the sole option. Similarly, additional payment methods would be nice. Even so, the vast majority of people now use the PayPal service. Credit cards and bank accounts can be linked to PayPal, so it remains possible to use these payment methods to cover the cost of signals each month.
Conclusion
Blue Sky Binary is highly recommended by SmoothTrading.
What the Blue Sky Binary Group is offering to traders is a solid signal system that is able to account for changes in market sentiment due to the human element. When signal generation is the result of a combination of expert opinion and solid indicator strategies, traders can expect excellent results. Even better, BSB delivers unlimited signals for one low monthly cost. The offered free trial period is the ideal opportunity to test these options signals for yourself. Signals must only pay for themselves in order to offer some type of value. Traders can expect the profits generated from Blue Sky signals to greatly exceed their cost.
And what of the future? We are told are a members only dashboard will soon be available, and possibilities of auto-trading too. We will provide updates here as and when they happen. In the meantime, what are you waiting for? ……….