Night owl signals is a new binary options for live trading room signal service that runs from 8:30 PM to 10 PM Eastern standard time during the Asian session Mondays to Thursdays.
Today I will be providing a review and letting the readers of binary today understand the potential benefits and drawbacks of this new signal service.
Night Owl Signals Review
The night owl signals service is just getting its feet on the ground so there is not a lot of information but I will do my best to provide what we know so far. In order to gain access to the signals traders have to be inside the live trading room that takes place for an hour and a half every night. In this live trading room the trades are announced and the trades are then placed. The expert traders providing the signals use real-time fundamental and technical analysis to determine the trades.
We are also shown that the night owl signals can be accessed using a smart phone or tablet by downloading the trading room in the app store. This is a convenient tool that I do appreciate. One thing that bothers me for this service though is the price. In order to gain access to the live trading room cost is $87 biweekly so nearly hundred and $70 a month. For a service with no track record I find it very difficult to shell out this type of money.
At this point in time there is no record of trades because the night owl signals service has just been released. I will not be able to recommend this signal service to any binary today reader at this point in time because they do not have enough information or track record. If you something you would like to contribute to this review please leave some comments below and I will respond to every single one of them. Take you for coming to the website today and I hope that you find some information here that will help you in your binary options trading journey.
I recently spent a month with Night Owl Signals, and the following is my experience and evaluation of its services.
As previously mentioned in a post by John Kane, it is a live trading room that provides educational and signal services – with heavy emphasis on education. It is owned and operated by Chris, the host and trader of Night Owl Signals. Chris, who is based in Florida, is an experienced trader who started out in Forex then, about five years ago, moved over to binary options. When he first started his service, he conducted one session at night from 8:30 – 10:00 pm EST. Over time, demand was such that he added a day session as well so, in addition to the evening session, there’s now also one in the morning from 9:30 – 11:00 am EST. He runs these sessions Monday – Thursday, unless there’s a holiday and the markets are closed. The trading room is set up in such a way that Chris talks to everyone via a microphone, while anyone wishing to communicate with him can write it out in the text box that’s provided. The cost is $87 every two weeks per either day or night session which averages out to about $11 per 90 minute session. While you can attend both the day and night sessions, each will cost you $87 every two weeks per session. Renewal is automatic through Clickbank.
I signed up for the evening service on Monday, December 29, 2014 which, in hindsight, was probably a stupid thing to do since the markets tend to get wonky during the last two weeks of the year and can also take another week or two after the start of the new year to get back into a more or less normal pattern of movement. Plus the brokers were closed on the 31st and 1st so there were two non-trading days that first week. I knew this but joined anyway because I had heard good things about Night Owl and was eager to get started with the service. I started out with a $400.00 account balance and didn’t trade more than $20.00 at a time.
The service has an affiliate component to it and the person who sponsored me in had reported a rate of between 5 – 8 accurate trades per session, and assured me that I would more than make back my subscription fee investment, and then some, even though I was only trading in $20.00 increments.
In a nutshell, that didn’t happen. Not even close.
A 90 minute session in the trading room usually went something like this: Chris, who only trades AUD/USD, USD/JPY & ERU/USD, in five minute trades (it used to be one minute as well as five minute trades but he stopped calling signals for the one minute trades because he said the slower/newer people were having trouble keeping up with his trade instructions. This resulted in a source of frustration for me as I really liked, and had the most success with, the one minute trades), would see a potential trade coming and call a “yellow light” and (usually, but not always) tell us which pair he was looking at. A “yellow light” meant we should get our accounts refreshed and get set to place a trade. Unfortunately, for whatever reason, he would often forget to mention, until the last moment, which direction he was expecting the pair to move and sometimes, he would even forget to tell us which pair he was looking at. So, by the time he finally gave us all the information we needed to place our trade, which was at the same time he was placing his trade, we were scrambling to catch up. Also, more often than not, the conditions that would elevate the “yellow light” to a “green light” would dissolve and he would call off the trade at the last second – literally. This would happen time and time again during every trading session. I wouldn’t have minded this nearly as much if, when we finally did place the trade, it was successful. Unfortunately, to the detriment of my account balance, that was not usually the case.
The number of trades we normally averaged per day was about two, meaning some days we only had one trade and other days we’d have three. We did have one day where four trades were made, two winners and two losers. That was the highest number of trades I ever experienced during a 90 minute session while I was with Night Owl and it only happened the one night. On more than one occasion, when we had only three trades for the night, two of them would inevitably be losers. Pretty abysmal results in my book.
In all fairness, I can’t be mad at Chris for all the losses as it was quite clear he wanted nothing but the best for the people in his trading room. Though, paradoxically, it is my personal opinion that it was Chris’ overwhelming, uncompromising desire to guide us to the absolutely, positively best possible trade that is the main reason we did so poorly.
Let me clarify. Chris would not call a trade out to us unless all conditions were absolutely, totally, completely perfect. As a result, he passed up many possible trades that, more than likely, would have worked just fine but were never given the chance. This was never more apparent than one Thursday night when we had made only two trades during our 90 minute session, and both had tanked. Chris was so upset that he remained in the trading room for another 90 minutes doing more teaching. During that time, he was also placing trades on his own but not calling the signals out to those of us who had decided to remain. He would only reference his trades in a vague way by saying something like, “I’m liking what the Yen is doing.” A few seconds or minutes later, he would tell us that he had placed a trade on the Yen, but for us, by then, it was too late to get in on the same trade. This continued for a full 90 minutes and at the end of that time, Chris had placed 27 trades, and of those 27 trades, one was a tie and two were losers. This guy had won 24 trades during that time and hadn’t called out a single signal to us at all. He justified this by telling us that all of those trades were higher risk than he liked to subject his students to and so he only mentioned them, more or less, in passing, without giving us any usable trade placement information. And, to address any doubters out there, I KNOW he won those 24 trades because when he finished trading for the night, he scrolled through a live screen shot of all his trades for the last three hours.
That same night, I emailed him and asked him if he would start trading THAT way for us but, again, he said the trades he had made were okay for him to do, but were too high risk for some of the less advanced people in the trading room and he wanted to be considerate of them. This left me feeling frustrated and helpless, like a penniless, starving person with my nose pressed up against the window of an all-you-can-eat restaurant. Needless to say, between my lack of wins and my frustration over his method for calling signals (or rather, not calling signals) my dissatisfaction over this service was ramped up another notch.
Chris’ rate for calling out visually perfect, but ultimately less than accurate, trades was such that, after about two weeks of a steady stream of more losses than wins, my sponsor sent out an email to everyone who had signed up under him recommending that we stop trading live and just trade on demo accounts until Chris’ accuracy rate improved. My sponsor didn’t know that I had already started trading on a demo a week before his recommendation, which was also a week after I had started with his service.
By the end of that first week of demo trading (my second week with the service), I was ready to bail. My two week subscription would be up in a couple of days and I wasn’t planning on renewing it. But, when it came time for my first automatic renewal for a second two weeks with Night Owl, I decided to allow it to go through because Chris had announced that he’d been working on a new indicator he had programmed himself that would provide a higher degree of accuracy. So, I decided to stick around a while longer and see how well it worked. He brought it online at the start of the last week I was with him, and while it did help to afford a somewhat higher degree of accuracy, we still only averaged 1-3 trades per 90 minute session and some were still losers. Add to that the fact that Chris would not let us download and use the indicator so we could trade with it on our own outside of the trading room, and I hit my maximum frustration limit. Chris’ justification for keeping us locked away from his indicator was that, one, he was still tweaking its programming and, two, he didn’t want people to download it and then leave the trading room. He said he wanted to build up the trading room to around 500 people and he couldn’t do that if people took his indicator and left to go trade on their own.
When he told me that, I knew it was time for me to leave. Not only was he picking and choosing which signals to call and skipping signals that could have been winners, when he should have been calling all potentially viable signals and letting us decide for ourselves if we wanted to act on them or not, I wasn’t even clearing enough to cover the cost of his subscription. And it just killed me to know that he had it within his capability to trade in such a way that would help not just me me but everyone make huge profits. But he refused to do so because he wanted to cater strictly to the lesser experienced people.
In my opinion, a teacher should want to teach his students how to be self-sufficient and to gain the knowledge that allows them to go out and succeed on their own, not try to hold them hostage by refusing to give them the tools they need to succeed. But, had I been able to derive enough of a financial benefit to cover my subscription cost AND build my account balance, I would probably still be with him. Sadly, that didn’t happen. Personally, I could never figure out what was so hard for the newbies – of which I had been one when I first started there – about refreshing your account, selecting a currency pair, choosing a dollar amount and hitting the “call” or “put” button when told to but, apparently, some people did have a problem and he catered solely to them, to the detriment of others like myself who were willing to jump all the way into the pool rather than just getting our feet a little wet.
Four days before my subscription was set to renew for the second time, I submitted my request to Clickbank to not allow it to go through, but it renewed anyway. That wasn’t a big deal, though, because Night Owl (or Clickbank) has a 60 day, money back guarantee, so I submitted a request to Clickbank to be refunded for the last renewal, as well as for the first renewal, on the grounds that Night Owl didn’t perform entirely as advertised. I did, however, decide to let the first $87.00 payment stand because I did gain some benefit from the teaching that Chris provided.
So, would I recommend the Night Owl Signals service? The simple answer is yes and no.
If you are looking for someone to teach you how to trade binary options and what to look for when considering placing a trade then, yes, I would most assuredly recommend this service. During every 90 minute session, Chris kept up a steady patter of dialogue explaining what he was thinking about, looking at, and considering that concerned trade setups and jumping off points. He would explain what he liked or disliked about the way a certain currency pair was moving and how it could potentially affect the trade. The only time he was silent was right after placing a trade while he waited for the five minutes to count down, at which time he would take a short break and maybe get some water. In that respect, he was a good teacher. A single investment of $87.00 to study for two weeks under Chris’ tutelage would be well worth the investment. And two weeks should be about all it takes to learn what Chris has to teach. After that, anyone with any kind of affinity for binary options trading should be able to strike out on his own.
On the other hand, if you are looking for a live person to call signals out to you and tell you when and how to enter a trade with the hopes of building some kind of a financial nest egg then, no, I most definitely cannot recommend this service for that purpose. And it just kills me to say so because Chris is such a nice, friendly guy. He welcomes questions and is quick to respond with answers both in the trading room and through emails. But he caters to the least skilled trader and once you no longer fit into that category, you’re just spinning your wheels sticking with his service because he will not provide you with any real signals short of something totally, completely, thoroughly perfect which usually only happens two to three times at the most during any 90 minute trading session and is not always all that accurate. He just does not trade for his more advanced students in a way that can gain them any financial benefit and that’s a real shame because he so easily could. If he had called signals for his students instead of quietly making those 27 trades on his own during that one Thursday night in January, and he continued to trade that way from that time forward, I would still, happily, be with him, and there’s no doubt in my mind that I’d be much better off financially for it.
And I find it hard to believe that I was the only one who felt that way. Surely there had to be other people from that Thursday night who recognized the kind of trading Chris was capable of and how he could greatly benefit us all if he would just stop dumbing down his trade-calls and be willing to change his approach for calling signals. From my perspective, Chris is in business to provide a service (calling signals) and, even though his customer (me) was asking him to perform this service, he was refusing to do so except from within some very strict and narrow parameters. To me, that’s not the mark of a good business owner. A good business owner listens to, and tries to accommodate, his customer’s needs, and Chris completely ignored my request.
As it was, when all was said and done, and I finally left on January 23rd,, 2015, I was up $8.00 in one account and down $90.00 in another account, and that wasn’t counting the cost of the initial $87.00 subscription fee I decided to let stand.
An addendum:
Shortly after writing, and before posting, the above evaluation, I learned that Chris had added a new service called Signal Push. Upon cursory investigation, I learned that this is a service where you sign up with a specific binary options broker, then download a piece of software that interfaces between your broker and Chris’ trading platform, though you can preset your own amounts to be traded. This allows any trades that Chris makes to be duplicated within your own broker’s platform so, in essence, Chris trades for you. It’s all automatic so you don’t need to be on hand to make any trades yourself if you don’t want to. The one downside is that it ain’t cheap starting at $399 per month (which allows you to make up to $500 trades), so if you can’t start out at a higher than minimum deposit amount with the broker (which is usually about $250), you probably won’t make enough in one month of trading to cover next month’s $399 service fee because you’ll only be able to make $10-$20 trades, assuming you’re following good money management practices and not trading more than 2%-5% of your account balance during any given trade.
In spite of the cost, I’m going to give it a go – when I can – because if I learned one thing during my time with Night Owl, it’s that once Chris gets out of his own way and stops trying to find that totally, absolutely golden, wonderful, completely spot-on, perfect trade, he is a darn good trader and I would be very happy to have him trade for me. And, while I don’t know all the specifics with the new Signal Push program yet, I will come back and post an evaluation about it as soon as I can.
I can confirm what Becky says!
Chris seems to be a nice guy who tries to help people and i really think that he has a lot of knowledge in terms of Forex.
But during my test period, 8 trades were made in the morning session with a result of 5:3, in terms of percentage this is 62,5% which is way too low when you are taking trades in binary options. Even if you follow strict money management. This only works when you have a big depot, then it is actually growing a little bit, but you have to think about the costs of around 100$ per 2 weeks as well.
A lot of promises are made during the session like “wait for the end of the week, it will look good then”. Well, at least there was no loss.
Chris opened a new facebook site at facebook.com/nightowlsignals where his results are posted. But he only posts the positive days! E.g. on monday we had 0:1 (1 trade and that was a fault), this is not shown on his facebook site. On thursday we had 3:2 (5 trades, 3 good, 2 bad) but the pic he uploaded showed a result of 3:1 (so 1 bad trade was snipped away, which is NOT the truth)
I understand that he wants to tune his results in terms of marketing, but this doesnt build trust for me!
He also has a service called 24/7 charts, where you pay around 80$ per month and you got access to his charts and indicators, but without his moderated trading room. This COULD be a better deal.
A new indicator is in the pipeline, but not yet released, who knows if it will be. As per 05. September 2015 there is only the “DTS” indicator shown which i didn’t trade so far by myself.
To sum it up:
In my opinion, you can forget about the moderated room in terms of trading Chris’ trades, because they are too few and even if he does them, a lot of them are negative! This turns me off big time. It’s hard to say if he is scam or not. Personally i don’t think so because he seems to have good knowledge about the markets. But he presents his results in a better light than they are and if you think you can just copy his trades and win big time, then you are on the wrong track!
This is what i have experienced, paying customer, copied his trades in the morning session Monday to Thursday, i didn’t miss a day during my membership!
I might give the 24/7 trading room another go and maybe i got more “luck” when trading the DTS and maybe the new indicator (if it will be released soon).
Hi Becky,
I don’t know if you’d be able to read this message, if not, any chance John that you could ‘send’ an email to Becky and forwarded my message?
Anyway, would like to ask Becky, how’s the Signal Push from Chris of Night Owl Signals? Did you have the chance give it a try? Was it successful this time?
Hi David,
Sorry to disappoint but, shortly after posting my above comments, I fell upon some hard financial times and was never able to try out Chris’ Signal Push program. I hear that he’s now doing something different that’s similar to Night Owl Signals but that has some kind of affiliation with NADEX. Beyond that, I don’t know any specifics. Good luck with your trading.
I love your reviews and your consistency of new and any updated info on new upcoming binary options products I tilt my hat to you sir thanks very much. I have came across some info on a copy trader service of a broker ctoptions and I wanted to get your inside thoughts on it as far as a system that they added Idk how long ago called binary replicator. It would be nice for you to do a review on this and also have you heard of Trade4.me and I would like your thoughts on this website as well thanks for your time, and keep up the Awesome Work Exposing these snake con artists #$&%%# of bi#%$% etc.
Thanks so much for the kind words, makes doing this worth while!