The Double Up feature is one which allows traders to double their investment amount on a digital options trade that seems destined to finish in the money. Turning one profit into two is undeniably beneficial and achieving this outcome might be much easier than you think.
When using this feature within the Brokers Options platform, the trade is actually duplicated (instead of the amount being doubled) using the exact same trade parameters, but with the entry price being the current market price. This will create a similar, but not identical position (because of the updated market price). What this means is that there will be the chance for double profits, but both positions could finish out of the money as well.
When doubling up is an option, the double up button will be displayed to the right of each of your open positions within the Broker Options platform. In fact, any and all optional features that are available will be found in this location. Doubling only requires a few clicks, but keep in mind that the opportunity will only be displayed for a short period of time.
The cost to use Double Up will vary, always being the same as your chosen investment amount for the initial trade that you wish to replicate. Again, if both trades finish out of the money, you lose both investment amounts. However, if both positions finish in the money, you earn double profits. Choose wisely.
Broker Options allows for Double Up to be used along with any asset class and any underlying asset. It is not, however, available with every trade type. One example is 30, 60, or 120 second trades. These super-fast trades would not provide enough time for execution of such a feature. Double Up works best with the basic digital options trade.
Double Up is an excellent way to lock in extra profits whenever market conditions are in your favor. If you’ve taken the time to complete analysis, and perchance spotted a solid asset price trend, there is no reason not to reward yourself by securing a dual position using the same trade selections and aiming for double earnings. Just be sure that the price action is still in your favor when utilizing this feature and there should be no problems.