Understanding Flex Trade on Olymp Trade for iOS

Hey guys! How does Flex Trade on Olymp Trade for iOS work? To be honest, I’m a bit confused about what exactly it does and how it's different from the usual trading we do with fixed expiry times. Is it really that useful?

Flex Trade: A Simplified Explanation

I totally get why you’re confused about the Flex Trade feature—when I first heard about it, I had a lot of similar questions! Let me try to break it down for you in simple terms, based on my experience using it on Olymp Trade for iOS.

In traditional trading, you set a fixed expiry time for your trades and have to wait for that time to end to see if you’ve made a profit or loss. Flex Trade, on the other hand, gives you the flexibility to close your trades whenever you want.

The Freedom to Close Trades Early

This means that while your trade is still open, you can monitor how the market is moving. If you’re happy with your current profit or loss, you can choose to close the trade early without waiting for the trade to expire. Flex Trade introduces the concept of floating profitability, which I’ll explain a bit more later.

Real-Time Market Monitoring with Flex Trade

With Flex Trade, once you place your trade, you can watch the market in real-time. If the market is moving in your favor and you’re seeing a nice profit, you have the option to close the trade and lock in those gains. On the other hand, if the market is going against you, you can close the trade early to minimize your losses before they grow worse. You’re in full control.

A Practical Example

For example, I placed a 10 trade on the Asia Composite Index. At first, it wasn’t looking good, and I was seeing a -7.00 USD loss. In a typical trade, I’d have to wait it out and hope the price recovers before the expiry time hits. But with Flex Trade, I had the option to cut my losses right there. I decided to wait a bit, and luckily, the market turned around. I ended up with a 62.00 profit and closed the trade before anything could change again.

Floating Profitability: A Clarity on the Feature

It sounds fancy, but floating profitability is quite straightforward. Instead of a fixed profit that you get only at the end of the trade, your potential profit or loss keeps changing as the market moves. If the price goes in your favor, your profit increases; if the price moves against you, your loss increases. You can decide when to close based on the real-time profit or loss, giving you a lot more flexibility than the regular fixed expiry method.

The Real Advantage: Acting When Opportunities Arise

For example, if the price hits a good level and you see that you’re making a decent profit, you don’t have to wait for the trade to expire anymore. You can close it right then and there and secure your profit. That’s the real advantage here—you’re not stuck waiting for the clock to run out.

Flex Trade: A Defensive Strategy

One of the biggest advantages of Flex Trade is the ability to cut your losses early. If you see the market moving in the wrong direction, you don’t have to wait and hope things will turn around. You can close the trade and minimize your loss immediately. This is super useful in volatile markets like Forex or cryptocurrency, where prices can change quickly.

For instance, if you’re seeing a loss, you don’t have to sit there feeling helpless. You can step in and close the trade to stop the bleeding before things get worse. It’s all about taking control of the situation.

The Right Tool for Watchful Traders

If you’re the kind of person who enjoys watching the market closely and reacting to what’s happening in the moment, you’ll probably love Flex Trade. It’s also super helpful if you want to minimize your risks by closing a bad trade early rather than waiting for things to get worse.

Final Thoughts

After using Flex Trade for a bit, I can say it’s a solid feature. It’s definitely worth trying if you’re looking for more flexibility and control in your trades. Instead of being at the mercy of expiry times, you can decide when the right time is to exit, whether to secure your profits or avoid a bigger loss.

If you’re using an iPhone, you can download the Olymp Trade Flex Trades app from the App Store and give it a try. It’s available only on iOS right now but is pretty easy to set up and start trading.

Hope this clears up your confusion! If you decide to give it a try, feel free to share your experience. I’d love to hear how it worked out for you.