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  1. #1
    Rookie Member martindespres's Avatar

    Question 24 options end of week trade!!! !!!

    Hi Guys,


    Is there someone in the forum who can confirm me that you can close and end of week trade 3 minutes after you open it and 5 to 10 minutes before the end.
    I just want to confirm the information I received from 24 options is accurate.


    Thank you,

    Martin

  2. #2
    Legendry Member Okane's Avatar
    As far as I remember, you can only close
    end of day trades after a couple minutes up to 30 minutes left to expiry.
    30sec up to 5 min are not closeable
    but 5+ are closeable.

    Market is closed right now so I can't double check, bad timing but maybe
    someone else remembers? I don't take EOW usually so I don't remember.
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  3. #3
    Master Member SeasaltMcFish's Avatar
    I rarely use the close early feature and my experiences with the short time closures are not so good. Many times they don't work fast enough or not at all. On larger time frames, I guess this will be a less problem.

    Maybe I'm doing something wrong though.

    Normally, I see early closure as a losing way of trading, but I can imagine it can be a strategy on higher time frames.

  4. #4
    Moderator Kolyo's Avatar
    Not very familiar with 24Options early closure tool details but in most cases using it does not give you significant advantage, because the payoffs are worse as compared to normal closure.
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  5. #5
    Master Member SeasaltMcFish's Avatar
    One of the problems with early closure is that you possibly leave your system. A setup that was valid is a valid setup, so why leave it? You can't win them all. Originally binary options were 'fire and forget' trades. It's important to stick to your setups and not get fear in the way. Especially in short term trading its devastating to your faith in your system, because you could start slipping your trade conditions.

    Payout normally is far to low to make profit in the long run.

    It could be tempting to get at least some dollars in return when a trade runs bad, but think about the odds you get paid.

    Say you get $5 back on early closure of 10 $25 trades. You only have to make one miraculous recovery to cover 9 lost trades. (Theoretically you would lose 10 trades, saving 10x$5 = $50. However, if only one of these 10 trades would turn around and become a winner and you wouldn't use early closure, you would lose an additional 9x$5=$45, but the one suddenly won trade of 85% would bring you $46.25, more than what you would save)

    Hope my calculations are right, but you get the idea.

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