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December 2, 2021

What is easyMarkets' dealCancellation and how does it work?

Risk free dealCancellation feature? What is it and how does it work?

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What’s the Best risk management tool?

Most long-time traders attribute their success to proper risk management.

This is the factor that separates true traders from gamblers who cannot keep making stable profits even if they win big.

Some important aspects of risk management include setting stop losses, sizing positions, profit: risk ratios, and taking into account other charges such as spreads and processing costs.

All of this affects a trader’s account balance and winning percentage.

Go to easyMarkets Official Website

A risk management function “dealCancellation”

easymarkets A risk management function called dealCancellation

When it comes to limiting losses from trading, you may be familiar with various stop losses such as equity stops, time stops, and technical stops.

When using stop-loss, you have already set the amount of funds in your account that are at risk during trading, the amount of time your assets will be locked in an open position, and the technical level that will determine the invalidation of your thoughts.

Putting these together, for example, if the amount of funds for an account exposed to a transaction is 1% and the invalidation point is 200 pips from the entry price, you can determine the size of the position for that particular transaction.

However, if you don’t have the time to do these calculations yourself, easyMarkets guarantees stop-loss that allows you to limit your losses without worrying about slippage.

This feature helps prevent negative balances at no additional cost during times of high market volatility or during black swan-like events.

Another useful risk management tool provided by easyMarkets is the dealCancellation feature, which allows you to cancel a transaction until the expiration date.

Trade with easyMarkets’ dealCancellation

These features are available for most securities unless otherwise specified and can be used by simply sliding the deal Cancellation on.

This means that you can further limit losses from potentially lossy transactions as long as dealCancellation is available within 60 minutes.

The cost of the dealCancellation feature can vary depending on the security, the size of the position, and market conditions, but the cost is already stated before it becomes effective.

If you cancel your order, your risked funds will be returned to your account and your fees will be deducted, but you may incur less loss than you would incur at a stop out.

Finally, the profit or loss calculation also incorporates possible spreads and other processing costs.

Keep in mind that if the market is highly volatile, spreads may widen, resulting in lower profits and higher losses.

However, if you use a broker such as easyMarkets that offers fixed spreads, you can trade with all costs taken into account from the beginning without worrying about additional costs.

These spreads can be easily referenced in easyMarkets’ FX spreads and pricing table, which includes the contract size for each product, the pip value, and the minimum margin required.

This information is useful not only for calculating the size of the position but also for checking the transparency of the broker, such as whether it costs anything else.

Open easyMarkets’ Account to try out the dealCancellation feature today.

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