Using The Option Builder – Custom Expiries
Struggling to execute trades based on lack of expiry times? This happens from time to time and may result in passing on the trading opportunity. Something that irritates and frustrates most of us, including me. Using the Day Trading Forex Live strategy to look for valid A + setups require a specific expiry time, allowing the lucrative Forex markets to do its magic and move in our favor. As explained in my previous article, “Trading Against Time – Not Price“, I made it clear that time is very important to Binary Option traders. Without having the ability to choose your desired expiry time is like drinking coffee without sugar, leaving a bitter taste in your mouth! Luckily there is a simple yet often overlooked way to still get what we want in the Binary markets…
The Option builder tool is provided on the SpotOption binary trading platform and goes under a number of different names, depending upon the branding applied by the broker.
This option builder tool allows traders to set the exact expiry time and risk level for each investment in addition to choosing the asset and amount of investment.
Always be in control of your trades…
Although some broker platforms might have different names for their option builder it is still the exact same thing. This is most likely the main reason why this feature is unknown to some traders.
How To Use The Options Builder
First of all you must be aware that you are not choosing in how many hours and minutes the trade will expiry but rather at what time it will expire. The time you set is based on the TopOption platform clock seen on your screen which indicates the time in GMT.
“UTC is Coordinated Universal Time, GMT is Greenwich Mean Time.
Great Britain/United Kingdom is one hour ahead of UTC during summer.”
– View the times zones
When clicking on the Option Builder tab you will see its not much different than executing normal trades except for the expiry time and custom risk ratio. The 2 expiry time drop down menus are marked from 00 to 23 and 00 to 55. Don’t get mixed up between 13:00 and 01:00. Always double check before entering your trade! Depending on the custom expiry time set it effects the in-the-money as well as out-the-money insurance payout.
Under the Profit section you will be allowed to choose a custom payout ratio. What you are offered strongly depend asset, expiry as well as market conditions. I personally always stick to the highest payout without any OTM insurance. I think if you are looking for a 60% | 20% ratio you are unsure of the trade and should rather reassess the setup.
Getting To The Point
I must add that on some occasions you might not be allowed to use your selected expiry due to an uneven risk exposure, indicated with a pop up message alerting you. Other than that you have 10 x more options to choose from, giving you the freedom to execute your Binary Options trades the way you want to!
If you have questions about joining the Day Trading Forex Live recommended Binary Options Broker or need more information about the FREE Skype room when joining TopOption please feel free to contact Allen Henn. He is a current member and the DTFL Binary Options host. He will answer any questions and give you an idea of what the service involves and support we provide.
If you have any questions about the FREE Binary Options education when you sign up with TopOption you can contact Allen Henn at email@example.com to set up a time for a conversation over the phone if you like or call his SA phone line at 0836564432 or Skype at Allen.Henn
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