Channel Ranger software with its bouncing basketball trading channel strategy is brand new, and everyone’s asking me about it. This Channel Ranger review will help you decide if this is simply a Channel Ranger scam, or not.
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Devin Miles is the guy with the bouncing basketball trading analogy in the video on the channelranger.com website. He tells us that the Channel Ranger software works by placing calls and puts when the market “bounces” off trading ranges. Let’s play ball!
Channel Ranger Review Summary
- Annoying Browser Pop-Ups: No
- Fake Scarcity Counter: No
- Paid Actor Testimonials: Yes (at least partially)
- Impossible Revenue Gains: No
- Comes Across As Authentic: Maybe
- Convincing Proof of Profits: No (none provided)
- Possibility of Being a Scam: 30%
- Price: Free. Have to sign up with one of their brokers.
- Available In: All Countries
Channel Ranger Scam Background
I’m referring to it as the Channel Ranger scam at this point, because Devin Miles tells us that the main reason he created the software was purely for altruistic reasons. I can tell you with certainty that there are no selfless reasons behind giving you the Channel Ranger software for free – they get referral fees from the Binary Options brokers just like all the other software systems.
The BinaryOptionsWatchdog.com site is calling it the Channel Ranger Scam, and you’re welcome to go read their review, I have great respect for the site. They identified Davin Miles as a Fiverr.com actor, but I honestly couldn’t find him on Fiverr and I also could not find his face on Google image search.
Devin Miles claims his team has been working on pattern recognition software for years, and that they previously applied their knowledge to product market research in order to predict the popularity of the product. This is possible, but Binary Options and product research are two very different things. They say that they reconfigured the Channel Ranger software to isolate trading channels, but at this point I’m still not convinced.
How Does The Channel Ranger Software Work?
We’re told by Devin Miles that the software identifies price channels in the market. Therefore it does not trade during volatile markets, but only during quieter times when the market moves more predictably between the price channels. With trading prices bouncing in-between the price channels and the bounds established, they’re claiming that they can reach up to 82% accuracy on picking the correct trades. An 82% winning rate is actually pretty do-able.
They reckon that their Channel Ranger software can identify anywhere between 80 to 200 price range bounces like this per day, while monitoring 10 currency pairs. Now I’m a trader, and have been one for over 8 years, and that number of price channel bounces sounds just a little too high, I would have to check more closely. Maybe I’m wrong.
So when you do the math, and you take the 200 bounces, at $20 per bounce when you’re starting with a small account and you multiply it out with an 82% win rate, you end up with quite a bit of cash at the end of the day – of course only if it all works out fine.
At this point you might be wondering if price channels like this actually exist “out in the wild” on real trading charts, and the fact is that they do exist. As a matter of fact, I simply grabbed the first chart I laid my hands on while writing this review, and spotted this price channel on the EUR/CHF:
So it’s clear to see that price channels like this really do exist. The trick is still to write software that is capable of identifying these channels, and then also trading these price channels successfully.
Channel Ranger Review Conclusion
Is this a scam, or is this the best thing since sliced bread? Well, sliced bread sets the bar pretty high in my opinion. The whole selfless thing of giving the software away for the greater good crap is a bit much for me, so I don’t like that. On the other hand, the strategy that they’re claiming the Channel Ranger is capable of identifying, is pretty compelling, and would certainly make for a very profitable auto-trading robot if done correctly.
Unfortunately this Channel Ranger review is not going to end with a very conclusive conclusion. You’ll have to make up your own mind on this one, good luck! 🙂