When can you use change deal tools?
- when the trade is not in a profitable zone you may recieve a part of the trade amount back and reduce potential losses
- when the trade is in a profitable zone, but you think that the asset market rate will soon go in the opposite direction, you may fix the profit.
You can extend the trade until the next expiration time, if the movement you are expecting has not begun yet. This operation will allow you not to get loss now, but to get profit later.
And finally, if you see a confident market movement in the direction you predict, you can double the profitable trade, thereby doubling your profit.
How change deal tools work
✔ Change deal tools are available for «Digital options» only
✔ time limits: for options with short expiration times, for example, hourly, change deal tools will be available 5 minutes after the opening of the option and 5 minutes before its expiration. Operations with long-term options (week, month, etc.) are available 1 hour before the option expires. For example, if 01.06 you invest in an option that expires on 08.06 at 20:00 UTC, the operations will be available from 06.06 at 19:00 UTC.
✔ you can use only one operation with a certain option (except for “Doubling”, which you can use as many times as you wish). That means that if you have opened 5 identical trades (the same asset and expiration time), you can use change deal tools for only one of them.
How to change the trade
In the section «Open deals» you’ll find the «Change» button :
The fixed profit amount depends on how far the asset rate moved in the chosen direction: the further it is from the target rate the more is the payout. The profit also depends on the time left before the option expires: the more time is left the less is the payout. You can see the exact payout before the trade is closed.
Stop loss is used if you incorrectly predicted the course’s movement, it has significantly moved in the opposite direction, and you do not expect a movement reversal. When you close an option in a loss-making zone, you get back to your account up to 80% of the amount of your transaction. The profit amount depends on how far the asset rate moved in the chosen direction: the further it is from the target rate the less is the payout. The profit also depends on the time left before the option expires: the more time is left the less is the payout. You can see the exact payout before the trade is closed.
How to close the deal
To close the deal press the «Change» button for the chosen option. In the opened window, select “Close” tab, pay attention to the amount that you will get back when the trade is canceled, click the “Execute” button. You can cancel the operation with the trade by clicking the «Cancel» button.
Extending the deal
Trade extension is used in a situation where the asset rate is in a loss-making zone, you do not expect the rate to reach the target level before the expiration of the option, but you are hoping that the movement predicted by you will happen later. When the transaction is extended, the expiration time is extended to the next available one (15 minutes later, if such period is available for this asset, or for 1 hour in other cases). The commission will be charged for trade extension, comission amount you will see before the extension of the trade.
How to extend the trade
To close the deal press the «Change» button for the chosen option. In the opened window, select “Extend” tab. Select one of the available expiration times from the drop-down list. Pay attention to the cost of your operation in the field “Commission”. Click the «Execute« button. You can cancel the operation by clicking the «Cancel» button.
Doubling the trade
Let’s consider the situation when you’ve predicted the movement of the course correctly, and the course confidently moves in chosen direction. In this case, you can double your trade and thereby double the profit! The commission is not charged for doubling the trade. After you do that, another deal is processed that is identical to the first one but for one exception: the target rate of the new deal will be different from the first deal as it will be equal to the market rate for the moment when you click the «Double» button.
How to double the trade
To double the deal press the «Change» button for the chosen option. Please pay attention to the «Current rate», which will be taken as the basis for the trade, that will be opened as a result of the doubling operation. Click the «Execute» button. You can cancel the operation by clicking the «Cancel» button.
Many of Migesco traders use trading strategy based on change deal tools!