Binary options with Pocket options

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Market order
Ok I can see on the left I can basically enter the market at the current price and select higher or lower and a time frame.

Limit order
On the right, I think I am I setting it up to trigger the trade when price hits 4272.10 and forecasting the price will be higher/lower than 4272.10 4 hours after that? What does changing the payout percentage do?

(You can see the blue line on the chart showing when 4hrs expires.)
 
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