How to Double Up and Reverse With One Click
Hello traders, welcome to the cTrader tutorial and the third module trading. In this lesson, we are going to learn how double up on a trade and how to reverse with one single click in the cTrader platform. So right now we are looking at the US dollar Japanese Yen and I’m going to go ahead and buy one lot of the this currency pair. Okay and as you can see, I have bought one lot. Here is the volume and then down 0.3 pips which doesn’t matter a lot because I’m going to show you how you are going to be doubling up and how you are going to be reversing. Now why do you want to be doubling up? Let’s assume that we took this…well we don’t have to assume because we actually took this long trade. And if you look closely right here we have a, well a trend line that’s being respected and when price breaks with this trend line, we want to add to our position and the way we are going to be added to our position is to doubling up okay or buying another lot of the US dollar Japanese yen.
Now take a look here at the precision tab on the well the actual position that we are on right now okay. We have one lot on the US dollar Japanese Yen at the 123.32 even price level. Now if we…Let’s assume that price already broke the structure and we want to double up. The way to double up is to click these, well these two arrows to the upside icon and like that, you have doubled up your position and you can see right here that we are now logged two lots on the US dollar Japanese yen. Well as you can see from what you have learnt so far, this platform is built for scalpers and for people that need fast executions and need to react very fast to market moves. Now let’s assume that we were actually logged 200k or two lots on the US dollar Japanese yen and we are still expecting a break above these levels. But price did not break these levels and now it’s going to actually reverse to the downside.
Since we are, well, in the money for about a pip, we don’t want our precision to close on the loss when price hits our star plus, okay. We want to immediately close our position and go short the US dollar Japanese yen. The manual way will be to close this position and then reopen a short position on the US dollar Japanese yen. But you can do that with one click on the cTrader platform by clicking this ‘U-turn’ icon right here on the position tab. If you click it, you can see that our long position has been terminated and now we are short two lots on the US dollar Japanese yen. And now we can move our star plus to the desired levels and our take profits to the desired levels just like that. As you can see, we can easily just reverse our position or double up our position from one click of the mouse. If you click on or if you hover on the precision line you can also see that you also can do it from the chart because you have the two icons, the one for reverse and the one for double up just to the left of the closing ‘X’ icon.