Binary options software provider TRADOLOGIC has announced today it developed a new tool to strengthen the experience from binary trading. The tool called “Knock-in” is an innovative pre-trading tool which is used to automatically open binary options trade.
The best way for a forex veteran to understand this new tool is to think of it as a sort of time limited Entry Order for binary options. When an order is entered into the Trading Platform , it will not be executed unless the underlying asset reaches certain price level before the option expiration. This order type is a standard way for traders to control their positions while they are away from their trading stations.
Furthermore, “Knock-in” allows traders to use different strategies, such as to speculate that the trade will enter a certain price at the time they place the pending order.
A useful example from TRADOLOGIC : At 10:00 the EUR/USD is quoted at 1.0525. A trader can create knock-in order to invest $100 in Digital EUR/USD Call option with expiry at 20:00 if the price reaches 1.0550. If the price of EUR/USD hits 1.0550 before 20:00 the knock-in order will be triggered and the trade will be automatically executed. If EUR/USD price does not reach 1.0550 before 20:00 the knock-in will expire or it will be cancelled.
The provider says that Knock-in allows binary options traders to enjoy high levels of control and Risk Management . Together with the rest of TRADOLOGIC’s features, such as “Tournament”, “Trado 24/7” and “Auto-Trade”, “Knock-in” boosts customer engagement, facilitates the trading process and makes it more effective. “Knock-in” not only makes trading more efficient, but also maximizes the revenue of TRADOLOGIC’s binary options clients.
According to the firm's tracking reports, 15% of all trades were opened through the “Knock-in” option within the first week of its launch. TRADOLOGIC’s forecast says it is expecting a sustainable growth to at least 50 % in the next couple of months.
CEO Ilan Tzorya commented: “TRADOLOGIC is at the front of the industry’s innovation, by constantly introducing additional products and by delivering superior services”.
Tradologic Knock in Screenshot
