Miscalculations can happen to anyone. You analyze the chart, open the position, and realize, you should not have done it. There is good news for you. Olymp Trade provides the possibility of selling a trade order immediately, whether they’re currency pairs, cryptocurrency, or in this case, financial derivatives. With this method, you wouldn’t need to wait until it expires. It will result in blocking your profit or limiting the losses.
How to sell an order
There are two ways of selling your trade. You can hover the mouse over the offer on the chart so the window with the selling price will appear. Whenever it is acceptable, click on a button with the price. The second way is to press the “Sell now” button visible on the right side of the platform where your trades and orders are displayed.
When to sell a trade order
When you entered the trade and everything seems to go in the desired direction, then selling a financial derivative trade does not make much sense. However, if you realize at some point that the market is going in the opposite direction and you are facing losing the money, then you can use the possibility to sell a trade.
Be rational. Sometimes it is better to wait a bit before deciding on selling your order. Look at the example below. The trader opened up a position for 100 demo currency and at the displayed moment he can sell it for only 16.00. There are over 4 minutes left and maybe it is better to wait and see how the situation on the market will develop.
In some cases though, it is better to sell the trade even for a small amount. It is always better to lose less than more. So to minimize loss you can then sell.
Note, that the sell button will disappear when less than 1/6 of the expiration time is left. After that time the only thing you can do is sit and watch.
Remember, there is a free demo account where you can practice trading without the risk of losing real money. You can also check there how selling a financial derivative trade works. So go ahead and open it now.
We wish you always profitable trading!
👍 Pros and Cons 👎
- 🔹 Olymp Trade allows users to sell trades before expiration, potentially limiting losses.
- 🔹 The platform offers a global marketplace for trading derivatives and securities.
- 🔹 It provides a free demo account for practicing trading strategies and understanding the platform’s mechanics.
- 🔻 The sell button disappears when less than 1/6 of the expiration time is left, limiting options for decision-making.
- 🔻 Trading inherently carries risk, and selling a trade early can sometimes result in missed profit opportunities if the market conditions improve.
- 🔻 Market conditions can change rapidly, potentially impacting the outcomes of trades.
|Sell Order||An instruction to sell a trade before its expiration time.|
|Demo Account||A practice account provided by Olymp Trade that uses virtual currency for training purposes.|
🙋♀️ Q&A Section
- ❓ Can I sell my trade at any time on Olymp Trade?
- ✔️ You can sell your trade up until less than 1/6 of the expiration time is left, after which the sell option will disappear.
- ❓ What are the advantages of selling a trade early?
- ✔️ Selling a trade early can help limit potential losses if the market is not moving in your favor.
- ❓ What are the risks of selling a trade early?
- ✔️ Selling a trade early might result in missing out on potential profits if the market conditions improve after selling.
- ❓ Does Olymp Trade provide any training resources for beginners?
- ✔️ Yes, Olymp Trade offers a free demo account to practice trading and understand the platform’s functionalities.
- ❓ What factors should I consider before selling a trade?
- ✔️ You should consider the current market trends, your trade position, and the remaining expiration time before deciding to sell a trade.
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