How to Close a Pocket Option Trade
Hello all! Welcome to Katie Tutorials, where today I'll demonstrate a strategy you can use on any pocket option trade.
You have the option to close your trade before it expires, which allows you to reduce losses on a bad trade or take profit in a winning one before it turns against you.
Open Trade
To open a trade on pocket options, you need an existing trading account and approved payment method. Credit cards or e-wallets can be used for deposits; once completed, your account will automatically update with the funds added and you can choose an asset to trade from the available selection.
Pocket Option offers a wide range of assets to choose from, such as currency pairs, cryptocurrencies, commodities and stocks. You can even favorite certain assets for quick access. Furthermore, each asset comes with special analytics capabilities like charts and drawing tools that assist in making informed decisions.
This platform is user-friendly and offers a wealth of features for both beginner and experienced traders alike. You can try out their demo account to assess if it meets your needs before investing in full access. Furthermore, they provide various payment methods to accommodate international traders.
This is an excellent opportunity to hone your trading skills and gain experience without risking any real money. You can start with a small amount of virtual funds, working your way up towards larger sums over time.
Furthermore, you can utilize the free social trading feature to copy other traders and monitor their performance. This is an invaluable opportunity to learn about strategies that work for others and how you can adapt them to fit into your own trading style.
You can gain valuable insight into each trade by viewing details like how many people copied it, the number of deals completed, profit or loss figures and more. This data is useful for any level of trader to help maximize their chances of success.
If you're new to options trading, it is best to open a demo account before placing any real money bets. There are no hidden fees and the demo allows for practice of strategies and getting familiar with the site's features before opening a real one.
When starting out in trading, it's essential to remember that markets can be highly volatile and rapidly shift. You should keep an eye on your balance and be willing to take small losses when necessary. Patience is one of the key ingredients for becoming successful and one of the main reasons why options traders love them so much.
Close Trade
Pocket Option offers traders a hassle-free trading platform with no hidden fees and deposits that are free. Plus, its mobile trading capabilities enable you to stay informed on the market and your open positions from any location.
Newcomers to binary options trading may find the process a bit intimidating at first, but with practice and an effective strategy you'll soon become proficient at it. Starting out on a demo account and learning about the market basics can be an effective way to get started on your journey towards becoming an accomplished trader.
Once you've built up a solid base of knowledge, you can begin exploring more sophisticated strategies. However, remember that even experienced traders make mistakes from time to time; thus why it's so important to keep an eye on your trading accounts and monitor them closely.
Pocket Option's social trading feature is an invaluable opportunity to learn from others' trades and emulate what works best. Traders can track other users' trades with just a click, making this feature extremely valuable as it helps you become more profitable as you trade.
Another advantage of this platform is that it's ideal for new traders, as they can trade with virtual money and test different strategies before investing their own funds. A demo account is free and you have the flexibility to deposit as much or little money as desired.
Pocket Option offers a wide range of assets to trade, such as Forex, CFDs and high/low options. Furthermore, you can trade cryptocurrencies like Bitcoin and Litecoin. Additionally, you have the ability to trade foreign currencies and exchange them for other currencies.
In addition to these features, Pocket Option also offers tournaments where you can win prizes. This is an excellent opportunity to hone your skills and build a reputation as a competitive trader.
Signing up for a free account on Pocket Option is easy! All you need to do is enter your email address, Facebook or Google credentials and complete the registration process. Afterwards, you'll receive confirmation via email - simply click on the link in that email and activate your new trading account!
Expiry Time
When trading pocket options, you need to select an expiry time that meets your needs. After all, this is when you will learn whether your trade was successful or not.
Expiry times differ between brokers, so it's essential to determine which one suits your needs best. Furthermore, take into account the type of option you wish to invest in when making this decision.
High/low options are the simplest of all binary option types, as you set a specific time limit for your prediction and then compare it against actual market performance. If your guess is correct, you win; otherwise, you lose.
Longer expiry times have target prices that are further from the current market value than shorter ones, so it is essential to give the market enough time to reach your price before investing in this type of option. With experience comes knowledge about finding the right combination of expiry and target price.
Shorter expiry times often use target prices that are closer to the current market value, so it's essential to take both into account when making this decision. Furthermore, consider the volatility of your chosen asset and how this could influence its value.
When trading pocket options, the expiry time is essential as it determines how much money you receive for your investment. For instance, if the trade is successful and has an expiry time of 30 minutes, then you would receive 80% of your original stake as a payout.
If you invest in an expirytime of 60 minutes and your trade is unsuccessful, then you will only receive 60% of your original investment as a payout. This is because if the trade fails, you will lose all of your initial stake.
Additionally, some brokers provide a rollover or extend feature that gives you extra time until your trade expires. However, you will have to pay an additional premium for this privilege - up to 30% of your initial investment!
Stop Loss
When trading pocket options, it is essential to set a stop loss in place to safeguard your profits and avoid losses. If the price reaches this point, your trade is closed and all funds invested are lost - as it can never be guaranteed which way the market will go; having this safety net in place before making any investments helps ensure they don't go south unexpectedly.
One popular way to manage your risk is by placing a trailing stop-loss order. This straightforward yet effective technique helps close out a trade when the price reaches a predetermined level, helping you avoid losing money on trades that go in your favor.
An Average True Range (ATR) indicator can be used to gauge market volatility and decide where to set your trailing stop-loss. This is an ideal tool for day traders as it helps them reduce their risks.
Many trading platforms allow you to close a position early if you believe the underlying asset may move in an adverse direction. This feature, known as an "early out" or a "close now," may not be available on all options types, but having this option available can prove helpful when trading.
To determine when it's time for your trade to close, monitor the price of your underlying asset using either an online chart or app on your phone. This can be done easily through a mobile chart app.
Another tool you can utilize to stay on top of your trades is a demo account. This free account allows you to practice trading without risking real money, plus save your results and switch over to a live one when ready to trade with real funds.
Signing up for a pocket option account is simple. Just click "Register" and enter your email address to receive confirmation email. Activating your account by clicking on the link in that email is then possible; just remember to deposit at least $10 into either demo or real account first!