A new tool from easyMarkets
Day trading the financial markets during the past few months had been extremely challenging and will likely continue to be so for the foreseeable future.
Fully aware that clients need improved risk management tools, easyMarkets, the global award-winning financial services provider, had recently announced an important upgrade for dealCancellation.
Established in 2001 and currently providing access to more than 200 markets (FX, stocks, indices, commodities, forwards, options, and others), it is the only company offering the option to undo losing trades with the dealCancellation tool.
Until recently, its maximum duration was one hour, but after more than 30,000 trades had dealCancellation activated, and due to popular demand easyMarkets had decided to extend it for 3 or 6 hours.
Broad risk coverage with the upgraded dealCancellation
The latest press release issued by easyMarkets makes dealCancellation one of the most innovative day trading tools, given that it can cover almost an entire trading session. Traders will be able to trade without fear, knowing that even if their trades will end up negatively, they will be able to undo the loss, in exchange for a small fee.
That's an important factor for the risk management strategy since the overall market exposure is reduced, which improves the potential risk/reward ratio. Learning to deal with losing trades is part of the trading process, but during extremely volatile periods, trading accuracy can drop significantly in the face of unexpected events.
Considering day traders are the most vulnerable to the market's unpredictability, dealCancellation provides a safety net in case a trade ends up in the negative territory.
With protection for up to 6 hours, managing open positions can be handled with no fear interfering and influencing the decision-making process.
easyMarkets officials proud of the latest upgrade
Even though dealCancellation had just been upgraded, it had already received much positive feedback from important easyMarkets officials.
Nikos Antoniades, easyMarkets CEO, said the company is "very proud of this upgraded version" and "they are sure it will offer great value to clients". Alex St. Louis, the Chief Information Officer, highlighted the importance of such a move "in the face of the current worldwide crisis" and mentioned that they've "enhanced the remote access infrastructure to ensure easyMarkets can operate at full capacity, maintaining its excellent standard of client services and daily operations".
Whether it is used for hedging , testing a new trading strategy, or for undoing trade mistakes, the upgraded version of dealCancellation is poised to become even more popular among easyMarkets clients.
Right now, it's available on both the easyMarkets proprietary platform and on the trading app (using a Day Trade Ticket). It could also be used in combination with Freeze Rate, another proprietary risk management tool developed by the company.
With coverage for up to 6 hours, dealCancellation had truly become a reliable day trading tool and should continue to provide insurance that easyMarkets client will have a backup in undoing any potential losing trades.
Dealing with the unprecedented market volatility should not be such a stressful task, once dealCancellation is activated and protection ensured.
This article was submitted by easyMarkets.
