Trading options is not that difficult. It requires practice, like everything else, but this is why Olymp Trade offers you a demo account. Anyway, here you will find a short tutorial on how to open a trade. We will describe the 4-steps process to get it done.
Choose an asset
Set the duration of the trade
Let’s move to the right top corner. You will find there a window with time. Here you can set the duration of your trade.
Define the investment amount
Just below the time field, you will find a box where you can set the amount of money you wish to put in your trade.
Choose market direction
Further down there is an area with a green and red button. Now is the time to predict the market direction. If you think the prices will go up, you simply press the green button. If your assumptions are opposite, you press the red one.
The trade is now opened.
“Sell now” your digital option
If it happens, that your predictions weren’t right, you can still get out of the digital option. So if, for example, you were expecting the market to go up, but after a while, you notice it goes the opposite direction and you are pretty sure your trade will lose, now is the time to press the sell now button. It won’t be at the same price you made a buy, but it will surely prevent your account balance from losing full amount declared as a trade size. Bear in mind, however, that you cannot use this possibility if the remaining time is less than 1/6 of options expiration.
Practice makes perfect. Remember, you can sharpen your skills on a demo account. You can also learn from your past transactions. Study whether they won or lost. You get easy access to your past trades on the right side of the Olymp Trade platform.
Tell us about your doubts, trades and successes in the comment section below.
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