The double up strategy is a strategy which any binary options traders are using to maximize their profits. This strategy does not require any chart study or complex analysis and is very easy to understand and implement.
The double up strategy is actually a feature that most of the binary options brokers have included recently to offer a dynamic trading style to the users.
Using the Double Up strategy
The double up strategy is used when a trader is in a strong positing and the investment is looking very good to make profit. Using this strategy the traders can double up their initial invested amount while the parameters will stay the same as when the original investment was made.
Suppose you bought the options EUR vs USD at the price level of 1.38160 with your prediction being that the options will close at a higher price level that the current price level. Let us also assume that you bought the option at 1 PM and your expiry time is 2 PM. If the price level of the currency pair EUR vs USD reaches 1.38600 or something like that after half an hour it is very clear that you are almost certain to win this bet.
It would be a smart move in this situation to double up your investment using the double up strategy. When you apply this strategy the percentage payout and the expiry time will remain the same as it was when the original investment was made. Since your invested amount has been doubled up you will make a bigger profit in such a case.
Cons of double up strategy
There are some downsides of this strategy which you should be aware of. The most obvious one is that this strategy is useless if you losing or you are not in a very strong position. This is also important to understand that the double up strategy is basically a feature and all the binary options brokers do not offer this feature. In order to take advantage of this strategy you must have a binary options broker that supports this feature.
You cannot apply this strategy at the very last moment. As the expiry time comes close the option of double up gets disabled. If it was not so the binary options brokers would go bankrupt as the users will double their profit every time they win.
You should also know that your binary options broker charges a small amount for using this feature. This amount is small and you should not shy away from using this feature if you are in a really strong position. This strategy should not be used in a situation when you are not totally sure about the outcome.
If you double up and lose, you will lose double of your invested amount in addition to paying a small fee for using this feature. So use this feature smartly as this can help to make bigger profits on many occasions.