There are numerous trading tools in Binary Options to help traders for a successful trade. Many traders look for the available tools in their platform in order to help them in difficult trading situations and can improve their long term profitability. The most important trading tools are provided by the trading platform including close early, rollover, double-up and etc.
Many traders look for indicators in the trading platform to improve their trading strategies. As it was mentioned indicators can improve trading strategies and also trading profitability. Some of the most popular and reliable indicators are such as Oscillators, Moving Averages and Bollinger bands.
The Close early option is one of the tools that offered by many Binary Option trading platforms. This tool allows the options to be expired before the predetermined expiry time and it will be useful for traders who are afraid that their position turns negative. So it will prevent the horrible feeling of a negative position before the option expires.
Rollover is another useful tool in Binary options that gives you the opportunity to control your trades. It allows you to postpone the expiry time and let it to be extended. This is when you think your prediction on the option is correct but it will be expired soon and you need a little more time that your trade come in to money. On the other hand, this tool allows a flexibility in the timing of the trade.
Double-up is a simple tool in the trading platform to increase your initial investment by a few clicks of your mouse. By this tool you are able to replicate your investment before the expiry time and when you will be in-the-money you double your profits. Also, there is the possibility of doubling your losses for the incorrect prediction which is out-of-the-money. It will result in losing both the original investment and the replicated investment amount too.
It is a feature available to all traders which enable them to hedge a trade. So traders are able to hedge their positions to decrease the risk of loss. In hedged positions (both long and short on the same underlying asset), one position will be closed in-the-money and the other out-of-the money which allows you to recover the losses on the original position. Traders can use this technique to keep their investment and take advantages of profitable opportunities.