A good strategy, attentiveness, deep knowledge – all of these things are crucial for a professional trader. However, being a pro at using the platform and knowing about all the features that can be applied is just as important. The tools you are using make a huge impact on the outcome of the deals and allow you for more control. See how well you know the platform with this checklist!
Let’s have a closer look at the features you might have missed.
1. Use balance…
<Use balance to keep position open> is a feature that allows you to keep the deal open even after it goes beyond the autoclose level. If your deal is out of money, but you believe that soon the price will reverse, you may enable this option. Funds from the balance will be used in order to maintain the deal if it goes in the opposite of the chosen direction, below the autoclose level. If the price reverses and goes in the chosen direction, the funds deducted from the balance will be returned (gradually, the same way they were deducted).
2. Trailing stop
This feature allows you to secure a certain amount of profit (incur a certain amount of loss), once the deal is in the money. After you set a Stop Loss level, it will follow the price of the asset if it goes in the chosen direction. It will not move, however, if the price goes against your prediction. This means that if you invested in, for instance, EUR\USD, predicting that the price will go up and set a Trailing Stop Loss of 50%, if the price of the asset rises, the Stop Loss level will move up accordingly in the desired direction. You may find a detailed explanation of this feature here.
3. Purchase at…
Open a deal at your own conditions with this feature that allows you to create a pending order. To do so, set the investment amount, the multiplier, the Stop Loss and Take Profit levels just like you would do with any deal. Then simply set the price of the asset at which you want your position to be opened. After that decide which position you are opening — Long or Short one and click the corresponding button (Buy or Sell).
You will see a confirmation that your order has been created. Once the price of the asset reaches the indicated level, it will trigger the order and the deal will be opened automatically.
4. Market analysis
Did you know that you do not need to leave the trade room to be on top of the latest market news? This is your chance to become a fundamental analysis guru — find information about the top assets, have a look at the Forex and Crypto calendars and learn the forecast on stocks. You do not need to have multiple tabs open anymore — all the necessary data is at your disposal and you can click on the chosen asset and open deals in seconds. This allows you to have everything you need in one place and conveniently combine fundamental analysis and indicators. Make the most out of the platform!Trade now
NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future.
In accordance with European Securities and Markets Authority’s (ESMA) requirements, binary and digital options trading is only available to clients categorized as professional clients.
GENERAL RISK WARNING
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
73% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.