Here is a full review of the Night Owl Signals service which is a trading room-based system. Signals are not sent to the phones or emails of subscribers, but are called out live by the traders who operate the website. The unique selling proposition of this signal service is that traders get immediate access to the traded signals and become a part of a trading community that can support one another. The heading on the Night Owl binary signals’ website summarizes the whole experience. It says
‘Are you a night owl looking for a live trading room signals service? Real analysis. Real Trading. Every Night.’
5-Minute Forex binary trades
The trade alerts issued by the Night Owl Signals service dwells specifically on Forex binary options, with an expiry time of 5 minutes. As such, these options can be suitably traded on the Tech Financials white-label platforms, which are the binary platforms that introduced the 5-minute short term binary options contract for the first time in 2013.
In general trading 5 minutes is less risky than trading 1 or 2 minutes in binary options. When you’re trading 5 minutes you can refer to 1-minute charts, as well as, 5-minute charts giving you a greater insight into what’s happening with the price action and such minimizing your risks.
Trading during the Asian session from 8.30-10pm EST
The trades are taken specifically during the Asian trading session from Monday to Thursday. Each session lasts from 8.30pm to 10.00 pm EST. No trading is done on Friday night because the Forex market closes for the week by 4pm EST.
If you don’t live in Japan and can’t figure out what time is 8.30pm-10pm EST is in your location use this tool to find out. (Quick note: EST time is used winter and EDT in the summer)
For most areas in the Americas and Europe trading the Asian session falls in the evening or at night, hence the authors of the signals called it Night Owl, perfect solution for night people or insomniacs 🙂 but many claim that trading this session is easier and more predictable, especially the very short term trades. Although this may not necessarily be true because financial markets change constantly, trading the Asian session with Night Owl Signals certainly makes it seem easier.
Includes technical & fundamental market analysis
As previously mentioned the Night Owl signals service is effectively a live trading room, where analysis is conducted by a human trader (Chris) and there is live commentary. This way, traders who subscribe to the signals actually get to know all about what they are trading, and there is opportunity to ask questions along the way. Signals are based on both, technical (chart analysis with indicators) and fundamental analysis (news releases). This is very important in trading and it’s what really make these signals unique and stand out from other providers.
This live trading service is best used with headphones so that the audio coming from the trading room can be heard clearly without external interruption. View the video below to see how the member’s trading room works.
2 – 5 Quality signals per session
About two to five signals are generated every trading session. The trades are based on the Call/Put binary options contract, where the trader selects CALL if the analysis shows that the asset will end the trade at a price higher than when the trade was initiated, and PUT if the signal predicts that the asset will end the trade lower than when the trade commenced.
The direction of the trade, currency pair to be traded, the strike price/market price on trade entry are usually given out by the trade room moderator LIVE. There is no preference for broker, and any broker offering the Call/Put contract with a 5-minute expiry time can be used to trade this contract.
All signals are clearly called out
The Night Owl leading trader, Chris, will comment on the markets and and explain his trading strategy and charts being shown. He will also often discuss the price action of the traded assets and various news releases that influence the markets.
Chris calls out all his trades very clearly and you will see him place them with his broker, Boss Capital. As he trades 5-minutes expiry times there is also enough time to follow and copy his trades with your preferred broker without it being to stressful. We actually really like the way the head trader at Night Owl Signals performs in this area.
Night Owl trading room can be viewed on mobile
Subscribers can also join the trading room using their smartphones and tablet devices. There is a specifically designed app for this purpose that is compatible with Android, iPhone, iPad, and Blackberry. This app will give you access to the trading room.
However, we strongly recommend using the system on your desktop or a laptop computer. It’s just a much more enjoyable and comfortable viewing experience and easier to jump between browser windows. In most cases traders have two browser windows open, one with the live trading room session, and the other with your binary broker where you can place your copied trades.
Profitability of Night Owl Signals
There are no specific claims on how profitable the signals are over a longer period, but our tests and other traders who tried their system can testify to the efficiency of the signals delivered. Perhaps this can be counted as a huge plus to the service, as returns in the market are highly dynamic and cannot be quantified with a single figure all the time.
We tested the signals for a month and got the following results *
- Signals received: 72 signals
- Signals Won: 58
- Signals Lost: 8
- Neutral: 6
- Performance rate: 80.55%
* Please note that past results do not guarantee or indicate future results
Chat online with a professional binary broker
One thing that the Night Owl Signals service has going for it is the participation of subscribers in the entire process. A look at the interface will show traders commenting as the session progresses. This whole experience is very similar to Franco’s binary trading signals and both systems offer open 3-way (trader, other room members, you) communication using a live chat window. Below you can see a screenshot from the member’s area and the trading room with an open chat window.
What to consider before using Night Owl signals
The mode of delivery of the signals is such that traders must be glued to their computers during the trading period which lasts 1.5 hours each day. If the trader cannot do this (either because he is busy or perhaps doesn’t have access to the Internet), then such a trader will be unable to make the best of this service.
Some traders may also consider the focus of the signals service on 5-minute Forex binary options as being too restrictive. Many binary traders will prefer even shorter times, such as the 1 minute options (see Binary Options Trading Signals) or longer options such as 15m – 1h (look at Auto Binary Signals review). This system is a winning system based on the 5 minute options.
The pros of Night Owl Signals service
Traders get to trade as part of a community, which also affords a learning process and makes them part of an analytical approach to trading. This reduces errors and guesswork, while also providing learning and valuable mentorship.
The trade signals service is highly targeted. With so many assets to choose from, scattered over 4 different asset classes, the tendency to be a Jack of all trades and master of none is very high. By reducing the clutter and focusing on just one asset class and expiry time, it is easier for the trader to focus on what works.
The signals are easy to follow. Most traders will be able to follow the signals after watching how things go in the trading room for about two days. There is also a 100% money-back guarantee on this service.
The support team on Night Owl Signals is quite impressive. As it is a completely transperant service you can contact the professional trader online via a chat window during one of the trading sessions. You can also contact the company in the following ways:
- Use the online contact form on the Customer Service page of the website.
- Via email: firstname.lastname@example.org.
All email inquiries are usually responded to within 24 hours. However, most responses from the NightOwl team usually come within 8 hours.
The costs of signing up to Night Owl Signals
Traders are expected to sign up for the service with their full details, and payment for the service is done on the basis of a bi-weekly subscription. The service is available internationally, and after payment, subscribers are given access to the service via a Members Only login area. The signal service comes at a cost of $87, payable every two weeks.
Each session will cost you only $10.87, that’s $7.24 per hour for trading ‘side-by-side’ with a professional trader.
We think that’s a pretty sweet deal. There is no free trial or test trial period but you may cancel the service at any time. Payments and returns are made via third party vendor, Clickbank. You can pay using credit cards and PayPal. Subscription payments are charged automatically unless the trader cancels before the next billing cycle.
According to the moderators in the Night Owls Signals trading room, the aim of the entire service is for everyone participating to become “old traders” and not “bold traders”. This means that the emphasis of the signals services is to use as little risk as possible, so as to last in the market a long time in order to become successful in the markets, rather than being too bold and taking unnecessary risks leading to big losses.
To sum up, we feel that the Night Owl Signals are actually quite good value for money. Not only following the signals may be profitable but also looking at the live screen cast and listening to a professional binary trader can teach you many things about trading the markets. The biweekly subscription fee of $87 is actually quite low if you consider all the education that comes with the signals for free.
We hope you found this review useful. Remember to test the signals on a demo account first before trading with real money on a live account.