This TREND Trader review will look at this re-launched app by Jonathan Miller. I've been told that they took to heart the TREND Trader review comments, and feedback people gave them, improved the TREND Trader software, and now released it again with great success.
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I must admit that when I first read a TREND Trader review a couple of months back, it looked like a lot of the other scams out there. This negative view was also shared by a number of well-known and respected Binary Options blogs back in August 2015.
However, I respect a developer that admits that they made mistakes, then improves their app based on TREND Trader review feedback, and comes back to the market with something better. So, in my book, they deserve a second look.
UPDATE: November 30, 2015 – So here's my trading results for today. Did 5 trades, 4 of them were winners, giving me an 80% win rate! Pretty cool. The AUD/USD would also have been a winner, but I entered the trade too late. Be sure to go for the trade as early as possible after the signal is posted, and don't be greedy by chasing after the trade if it has already shot up (or down) in the predicted direction. Then rather wait until it pulls back, and get a better entry point.
This is what the Trend Trader app interface looks like. Pay close attention to the signal strength and the countdown timer.
Many of the TREND Trader review comments mentioned how the marketing tactics were very hyped. This TREND Trader review has found this to still be true for the new version. Unfortunately this is almost par for the course when it comes to Binary Options marketing. They are making some rather bold claims in their advertising, calling the TREND Trader app the single most powerful trend trading Binary Options auto trading algorithm available, with an up to 93% accuracy. They're also saying that their TREND Trader app members are making lots of money with this and, claiming a potential profit of between $1,350 and $3,700 every day. A number of reputable blogs have also concluded in their TREND Trader review blog posts that the latest version is a big improvement.
My TREND Trader Review Results: 78% Win Rate!
For this TREND Trader review, I decided to try out the TREND Trader app for myself, and got 7 winning ITM trades with 2 losing trades, which would make it a 78% success rate. So that's not quite the 93% accuracy they are stating, but it is still really good! There are lots of things that I like about this app. I like the the fact that the TREND Trader gives you a signal strength indicator, as well as a timer that tells you for how long that signal is valid. Both of those things are very valuable information when it comes to trading Binary Options.
Personally I do not like full auto-trading all that much, but I know that a lot of people do. Therefore it's good to see that the option exists to do full auto-trading with the TRENDtrader app, but also maintain the ability to switch it to manual.
TREND Trader App Background
Jonathan Miller tells us in his video that the Trend Trader app was created out of his frustration in attempting to make money trading Binary Options. He tried out many strategies and systems, none of which really made him much money. He then gathered together a team of top programmers and Wall St analysts to help him create his Trend Trader software. With his TREND Trader software he was finally able to make consistent profits. According to Jonathan Miller, he now has 1,000 members all over the world that are making amazing profits with TRENDTrader app. We're told that the TREND Trader app performs as well as it does, because of how it is integrated with various financial databases, which contain historical information about different assets. The TREND Trader app goes to work by comparing the pattterns contained in those databases and looking for repetitive patterns.
The concept behind TREND Trader is that “history repeats itself”, and therefore once a pattern has been identified, it will repeat again in current charts. Because of the requirement to use historic information, we're told that the TREND Trader app mainly focuses on assets with long-term records with at least a 100 years of history, such as Oil, Gold and Silver. Jonathan Miller tells us that although it is free to join TREND Trader, they will charge $0.30 for each profitable trade that TRENDTrader makes. The $0.30 fee will automatically be deducted from your profits. As with almost all Binary Options systems, you get the software for free, but you still have to sign up with one of their brokers to sync up the signals. The minimum account size is normally $250, remember to only trade with money that you can afford to lose. Jonathan Miller claims that TREND Trader app will give you a success rate of up to 93%, and it comes with lifetime one-on-one support.
According to what Jonathan Miller says, there are around 400 to 600 repetitive patterns that occur every day. Of those, at least 6.5% match their criteria of 93% accuracy. This means that if the TREND Trader algorithm works as it should, the software will place around 26 profitable trades every day. If you do the math, it will tell you that if you invest $25 with a 85% return on each trade, you will get $552.50 per day. The TRENDtrader app video will tell you it's $650, but they multiplied out $25 instead of $21.25. Jonathan recommends that you withdraw 50% of your account balance each day, and then reinvest the rest back in TREND Trader app.
Are There Really Patterns That Repeat In Charts?
So are there really repeating pattern in the charts as the TREND Trader app suggests? This TREND Trader review has found that there really are repetitive patterns, and that it would be possible for software to exploit it. One of the main proponents of such repeat chart patterns can be found by looking at the Elliott Wave Theory. TREND Trader app video does not refer to this directly, but the whole concept behind Elliott Wave Theory is that there are patterns that repeat themselves over and over, take a look at what Investopedia.com tells us about Elliott Waves:
Ralph Nelson Elliott developed the Elliott Wave Theory in the late 1920s by discovering that stock markets, thought to behave in a somewhat chaotic manner, in fact traded in repetitive cycles.
Elliott discovered that these market cycles resulted from investors' reactions to outside influences, or predominant psychology of the masses at the time. He found that the upward and downward swings of the mass psychology always showed up in the same repetitive patterns, which were then divided further into patterns he termed “waves”.
Investopedia also tells us that chart movements are divided into trends and corrections, and they're correct. I'm a big fan of Elliott Wave Theory, and there is a lot about how they describe the movements of impulsive trends that makes it a lot easier to understand how markets will behave. Trending moves or impulsive moves are the easiest to spot and consists of 5 waves, with 3 trending portions and 2 corrective or sideways movements.
Even without Elliott Wave movements, sometimes whole charts can virtually repeat themselves, although at the base of all those movements, you will still find that Elliott Wave Theory provides a basis for why you find the repetitive patterns.
Here is a chart that caused an absolute storm among technical chart analysts about two years ago, and you will see that it shows a remarkable repetitive pattern over many months. When you look at shorter term movements, there are often patterns that match each other much closer. This forms the basis of predicting future market moves based on past patterns. This means that the basic premise of the Trend Trader app is indeed correct. If they implemented the pattern recognition system in the TRENDtrader app correctly, it would indeed provide impressive results.
Trend Trader Review Summary
- Annoying Browser Pop-Ups: No
- Fake Scarcity Counter: Partially, yes
- Paid Actor Testimonials: No (not 100% sure)
- Impossible Revenue Gains: No
- Comes Across As Authentic: Mostly
- Convincing Proof of Profits: Yes
- Possibility of Being a Scam: 10%
- Price: Free. Have to sign up with one of their brokers.
- Available In: All Countries
So is the Trend Trader app a scam or is it legit? At this point I'm bound to say that the marketing still appears very scammy, but to be fair, I've been seeing some good results. I'll continue my testing and update this post. In the meantime, if anyone else has had some recent experience with the TRENDtrader app, post your comments below!
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