The most advanced trading platforms that are available these days come with a range of trade features. These are optional to use, but they can prove to be very useful for traders. When used correctly, these additional features can help traders maximize their earnings and minimize their losses. If the trading platform you are currently using gives you access to these amazing features, it is essential to learn how they work and how you can use them to get the most out of binary options trading.
One of the most advanced features that are gaining popularity these days is Sell. Traders also refer to this feature as Buy Me Out. By using this feature, the trader can sell an open position to the broker. If the open position is In The Money, the trader can sell it and make a profit. However, if it is Out Of The Money, it can again be sold but for a lesser amount than the original investment.
Basically, the trader can minimise his losses by choosing to sell it back to the broker. There are not many brokers who offer to purchase these options. Some may purchase one of them or both. But the main thing that traders must know is when to make the selling decision.
Depending on the level of risk that is associated, the sold off process can take place any time as there is no fixed time for it. But it is better to make the decision when the position is still In The Money. It may be a wise decision to make even if the trader knows that the position will not end well. When a trader knows that there is a greater risk of losing the trade, then exiting is the best option because it helps recover at least some of the invested amount.
Another advanced feature that is useful for traders is Rollover. By making use of this feature, traders can extend a trade so it is pushed into the next expiry period. But, this feature must be used under a certain criteria only.
For example, the trader must be confident that the price of the asset will move in the direction that has been predicted over time. Traders also have to pay a cost to use this feature. Generally it is 30% of the amount that has been invested on the trade. When traders are paying an extra amount to extend the timeframe of a trade, it is crucial that they are sure about their decision.
If a trader has opened a position and there is likelihood of it turning into a winning trade, then the trader can use the Double Up feature to replicate the position. The Double Up feature can be used as a trade replication tool.
However, traders must keep in mind that although all the elements that were applied to the original trade will be the same the entry price will not be the one at which the original trade was started. It will be the current price. It is an amazing feature as it can amplify your earnings if the trade ends up being profitable.
The features that are mentioned above are elective and it is up to the trader to decide whether to use them or not. They must not be used at times when they are not going to provide any benefits. They must only be applied when there are chances of them to add some value to the trades. But, before you use any of these features, you must be familiar with the rules for using them.
The features work in the same way with all trading platforms, but the rules depend on the brokers so it is essential that you understand them and then use them to your advantage.