The Double Up option is a feature that enables traders to double their earnings on a binary options trade which looks as if it will end in the money. Boosting a profit sum to twice itâ€™s worth is unquestionably attractive and achieving this result is not as difficult as you might think. Letâ€™s take a look at how this works.
Actually, rather than the amount of the trade return being doubled, a single trade is in fact cloned, applying the very same trade specifics, with the entry price however, reflecting the current market price. This produces a close, but not identical trade (due to the modified market price). This will mean that there is now a chance for doubling your profits, however, bear in mind that there is also the risk that both positions may finish out of the money.
If doubling up is offered as an option, the double up button will usually be shown on the right hand side of your trade. Each platform is different though, so be sure to become familiar with the layout before trying to use this, or any other elective feature. If possible, use a demo platform before trading live. Many brokers do offer this option in some form.
The price to use Double Up will differ, it is always the exact amount of your chosen investment sum that you used for the initial trade that you would like to duplicate. As previously noted, if both trades conclude out of the money, both investment amounts are lost. If both positions conclude in the money, then you will be paid double profits. Choose carefully.
Many brokers enable Double Up for use in conjunction with any kind of asset class and any kind of underlying asset. It is not offered with all trade types, however. Very fast 30, 60, or 120 second trades would not leave sufficient time for implementation of this type of feature. Double Up is most compatible for use with the basic binary options trade.
Double Up is an effective strategy to gain extra profits during those times when market conditions are advantageous. If you have devoted time and effort to perform analysis, and have identified a strong asset price trend, there is good reason to reward yourself by securing a dual trade with the same trade parameters and targeting double earnings. Just confirm that the price movement continues to be favorable when applying this valuable feature and there shouldnâ€™t be any issues.