Every trade is judged against a line on the chart:
- HIGH/LOW: the line is your entry price.
- TOUCH and SPREAD: the line is the upper one if you bought UP or ABOVE, or the lower one if you bought DOWN or BELOW.
| Trade type | Wins if… | Loses if… | Exactly on the line |
|---|---|---|---|
| HIGH/LOW | At expiry, the price is above your entry price (HIGH) or below it (LOW) | At expiry, the price is on the other side of your entry price | Loses |
| TOUCH | The price touches your line at any time before expiry | The price never touches your line. Touching the other line doesn't count | Wins: touching counts |
| SPREAD | At expiry, the price is beyond your line in the direction you chose: above the upper line (ABOVE) or below the lower line (BELOW) | At expiry, the price is anywhere else: between the lines, or beyond the other line | Loses: it has to finish beyond your line |
If the price is the same as your entry price
On a HIGH/LOW trade, if the price at expiry is exactly the same as your entry price, the trade loses and your trade amount isn't returned. This is sometimes called a tie or a draw. The rule is the same for every asset.
Example: you buy HIGH on USD/JPY at 153.250. At expiry the price is still 153.250. The price didn't finish higher, so the trade loses.
Some providers return your trade amount on a tie. Zentrader counts a tie as a loss, and pays up to 200% on HIGH/LOW. Ties are most likely on very short expiries when the market is barely moving.
When the result is decided
- HIGH/LOW and SPREAD: at expiry, using the price at the expiry time.
- TOUCH: the moment the price touches your line. If it never does, the trade loses at expiry.
- Closing early: if you close a trade before expiry, you receive the quote you accepted instead. See Can I close a trade early?
Your trade history shows the entry price and the closing price for every trade.
Related: Trade types compared: HIGH/LOW, TOUCH and SPREAD · How does HIGH/LOW work? · How does TOUCH work? · How does SPREAD work? · Can I close a trade early?