UNDO LOSING TRADES WITH dealCancellation

In the fast-paced world of trading, the fear of losses and unpredictable market movements can intimidate many traders. It’s here that dealCancellation, an industry-leading tool, comes into play, serving as a safety net and providing traders an added sense of security.

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What is dealCancellation?

DealCancellation is an innovative feature introduced by easyMarkets, aimed at alleviating some of the uncertainties faced by traders. Essentially, it grants you the power to reverse a trading decision if you find the market moving against you.

Imagine being given a time machine that lets you go back and undo specific actions – that’s what dealCancellation offers but within a set timeframe. Whether you’ve given yourself a one, three, or six-hour window, if the markets turn unfavorable, you can cancel your order, mitigating potential losses.

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Benefits of Using dealCancellation

Trade Big Events With Confidence:

During significant market events, many brokers hike up margins or temporarily halt trading. But with dealCancellation, traders can confidently engage in trading big economic calendar events without apprehension.

Alleviate Trading Anxiety:

Making a trade, especially significant ones, can be daunting. DealCancellation, by allowing traders to reverse a losing trade for a minor fee, helps reduce the associated stress.

Capitalizing on Bigger Trades:

If you’ve always hesitated in making a larger trade due to the fear of potential losses, dealCancellation has got you covered. With its time-window feature, it becomes easier to make and reverse decisions based on market movements.

Leverage Market Volatility:

Volatility is a double-edged sword. While it can amplify losses, it also presents opportunities for gains. Rather than shying away from volatile conditions, traders can now harness these situations to their advantage, thanks to dealCancellation.

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Step-by-Step: How to Use dealCancellation

1. Activation: On opening a deal, click on the shield icon. This activates dealCancellation. Based on your risk appetite, choose the duration: 1, 3, or 6 hours.
2. Monitoring: To ascertain which trades have the dealCancellation feature activated, head to the ‘Open Trades Report’. Trades with the shield icon are protected by the feature.
3. Cancellation: Spotting a losing deal within the set timeframe? Simply hit ‘cancel’.

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A Dive into dealCancellation FAQs

• Exchange Rate Impact: It’s crucial to understand that due to exchange rate fluctuations, the risk amount, once reverted to the trading account’s base currency, might differ when the deal is cancelled or closed.
• Profits and dealCancellation: If a trade with active dealCancellation is profitable, it cannot be cancelled. However, closing the position to realize the profits remains an option.
• Implications of a Stop Loss: If a trade with dealCancellation activated hits its stop loss before the trader cancels it, the amount at risk for that trade will be returned to the trading account.
• Post-Cancellation Scenario: On cancelling a trade under the purview of dealCancellation, the loss amount (amount at risk) is credited back to the trader’s account.
• Modifying an Open Trade: It’s essential to note that dealCancellation can’t be added to an already open trade. It has to be set during the trade’s initial setup.

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easyMarkets: A Legacy of Innovation

Having laid its foundation stone in 2001, easyMarkets has consistently been at the forefront of bringing path-breaking products, tools, and services to its clientele. They’ve integrated the modern-day marvel of Bitcoin, enabling clients to deposit, trade, and withdraw in Bitcoin without relying on conventional exchanges or converting funds to FIAT currencies. This feature lets users both hold onto their Bitcoin and actively trade with it.

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In Conclusion

With features like dealCancellation, trading platforms like easyMarkets are reshaping how individuals perceive and engage in trading. Such tools not only provide a safety net but also empower traders to take bold steps, explore market volatility, and potentially reap significant rewards.

For those still on the fence, easyMarkets also offers a comprehensive demo account, allowing novices and professionals alike to familiarize themselves with the platform’s features without risking real capital.

As the Official Online Trading Partner of Real Madrid and with accolades and trust from numerous clients and regulatory bodies, easyMarkets continues to lead the way, reflecting the future of trading in today’s digital age.

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FAQs about dealCancellation

What is dealCancellation?

dealCancellation is a unique feature offered on the easyMarkets trading platform that allows traders to cancel a trade up to the specified expiration time (1, 3, or 6 hours) and recoup their invested amount. This provides an opportunity to mitigate losses especially when market conditions are unfavorable.

How do I enable dealCancellation for my trades?

When you’re about to open a deal, simply click on the dealCancellation shield icon. Then, choose the desired duration (1, 3, or 6 hours) for which you want the feature active. The feature will be applied to your trade, and you’ll be able to view its status under your Open Trades Report.

Can I cancel a trade that’s in profit with dealCancellation?

No. Trades that have active dealCancellation cannot be cancelled for profit. However, you can close the position and realize any profits you’ve made.

What happens if my trade reaches its stop loss before I decide to cancel?

If a trade covered by dealCancellation hits its stop loss, the feature ensures that the amount at risk for your trade is returned to your trading account, protecting you from the loss.

Is there a fee associated with using dealCancellation?

Yes, there is a fee based on the recent market volatility. This fee is calculated based on the product’s realized volatility and is clearly displayed when you’re enabling the feature on your trading ticket.

Which trading products allow me to use dealCancellation?

dealCancellation can be applied to various day trading products including currencies, gold, silver, and oil. However, it’s essential to check the trading ticket for the dealCancellation icon to ensure it’s applicable to the specific product you’re interested in.

How can I check the remaining time I have for dealCancellation on an open trade?

Trades with active dealCancellation will be listed under the “My Open Trades” tab, displaying the dealCancellation icon next to them. By clicking the close button on a trade, a pop-up window will show you the remaining time for dealCancellation.

Are there any notable terms or conditions associated with dealCancellation?

A few key points to remember:
The fee for dealCancellation is non-refundable.
dealCancellation can only be added when the trade is first set up and cannot be added to an already open trade.
Once dealCancellation expires or is exercised, it can’t be renewed or amended.
If a trade covered by dealCancellation is closed for any reason with a negative P&L, the loss is covered, and the trade will be closed at zero loss.