The trading activity in the platform implies forming and sending market and pending orders to be executed by a broker, as well as managing current positions by modifying or closing them. In the platform, you can review your account trading history , configure alerts of market events and much more. Opening of a position or entering the market is the primary purchase or sale of a certain amount of a financial instrument.
In the trading platform, this can be done by placing a market order , as a result of which a deal is executed. A position can also be opened as a result of a triggered pending order. There are several ways to call a dialog window for order creation: To send a buy order click Buy, to send a sell order click Sell.
Once an order is sent, its execution results appear in the window — a successful trade operation or a reason why it has not been executed. If One Click Trading is enabled in the platform settings, upon successful order execution the trading window closes without notifying of execution results.
Let's look at trading features in different execution modes now. It depends on the instrument type and the broker. In this mode, the order is executed at the price offered to the broker. When sending an order to be executed, the platform automatically adds the current prices to the order.
If the broker accepts the prices, the order is executed. If during order processing the price changes by an amount greater than that specified in the "Deviation" field, the dealer server can refuse to accept the order and offer new execution prices. A corresponding message appears in the creation window in this case: If you agree with the new prices, click "Accept", and the order is then executed at the new prices.
If the new price is not good, click "Reject". New prices are valid for a few seconds only. If you do not make a decision during this time, message "Requote" appears in the window. Click "OK" to get back to the original order placing window. Deviation is the difference between the order execution type and the specified price to which a trader agrees. The larger the value, the less likely it is that you receive a new execution price requote in response to the order execution request.
If the deviation is equal to or less than this value, the order is executed at the new price without any notification. Otherwise, a broker returns new prices, at which the order can be executed. In this mode, the market order is executed at the price previously received from the broker. Prices for a certain market order are requested from the broker before the order is sent. Upon receiving the prices, order execution at the given price can be either confirmed or rejected.
Order parameters can only be modified before requesting the prices. Once the request is sent, a trader can only place an order with the pre-set parameters. To receive prices, click on "Request". After that "Buy" and "Sell" buttons appear in the window. Quotes offered after the request are valid for a few seconds. If you cannot decide during this time, buttons "Buy" and "Sell" again get hidden.
In this order execution mode, a broker makes a decision about the order execution price without any additional discussion with the trader. Sending of the order in such a mode means advance consent to its execution at this price.
In the 'Fill Policy' additional order filling rules can be specified: If this field is inactive, then the option is disabled on the server. When the "Sell by Market" or "Buy by Market" button is pressed, an order to execute a sell or buy deal at the broker's price is sent to a broker. A click on "Sell" or "Buy" creates an order to a broker to execute a Sell or Buy deal respectively. For more information about trading in the exchange execution mode read "Depth of Market".
An important aspect of trading in financial markets is the competent position management. The trading platform provides all the necessary tools for that. The list of currently open positions is displayed in the Trading tab of the Toolbox window. The account state line is highlighted with the red color, if the account is in the Margin Call or Stop Out state. The following position parameters are displayed here: Additionally, the current state of the trading account and the total financial result of all open positions is shown here.
The summary information about the state of assets of all open positions is available on the "Exposure" tab. The volume in units of a trader's position for the currency or financial instrument including leverage. The graphical display of the position in the deposit currency long positions are displayed with blue bars and short positions are displayed with red ones.
The platform adapts the display of assets depending on the risk management system applied to a trading account: The Assets section is helpful for those trading Forex or futures at an exchange showing their current status on the market. Same currencies can be found in a variety of different symbols: In this situation, it is very difficult to understand how much currency you have and how much you need.
Having more than three positions further complicates the task. In this case, the total account status can be easily seen in the Assets tab. We have bought and sold GPB simultaneously. You have 0 GBP, and the Assets tab does not display this currency. As of USD, we gave a currency in one case and received it in another. The Assets tab calculates the final outcome and adds it to the current balance since the deposit currency is USD as well.
JPY participated in two deals meaning that the tab displays its total value. Those using the exchange model can use the section to understand how their money is used. During trading, the account balance may even become negative: In this case, the Assets tab allows you to easily understand the trading account status.
Additionally, you can see the liquidation value here — amount of funds on the account and the price result of closing all current positions at the market price. Take Profit and Stop Loss are additional orders attached to a position or a pending order. In fact, they are instructions for a broker to close a position when the price reaches a certain level. Take Profit is set to lock in profits when the price moves in a favorable direction. Stop Loss is intended for limiting losses if the price moves in an unfavorable direction.
Of course, traders can monitor their positions on their own or using a trading robot. However, this approach has several disadvantages: Take Profit and Stop Loss help to solve these problems. These orders are associated with a trade position, they are stored and executed on the broker's server, and therefore do not depend on the performance of the trading platform.
Orders of this type can also be attached to pending orders: A position, which opens as a result of pending order triggering, inherits Take Profit or Stop Loss specified in the order. If the triggered pending order relates to a financial instrument, for which an open position exists, this position is modified: The Stop Loss and Take Profit specified in the order are used in this case.
If zero values are specified in the order, the appropriate levels of the position are removed. To modify the stop levels of a position, click " Modify or delete" in its context menu on the "Trade" tab. In the resulting window, the levels can be modified in two ways: Position modification can also be accessed from the position context menu on a char: Modification of Stop Loss and Take Profit on a chart is only available if the "Show trade levels" option is enabled in the platform settings.
To modify the level on a chart, left-click on it and drag the level up or down to the required value holding the mouse button Drag'n'Drop: Once a level is set, the position modification window appears allowing users to adjust the level more precisely. Modification of Stop Loss and Take profit on a chart is disabled if you enable the "Disable dragging of trade levels" option in the platform settings.
If an open position is available for the instrument of the chart, its stop levels can be set from the "Trade" submenu of the chart's context menu: The price for the stop order is set according to the current location of a cursor on the chart price scale.
Depending on the position open price and its direction, appropriate commands for placing Stop Loss or Take Profit appear in the menu. The command opens the order modification window , where the price can be adjusted manually. If One Click Trading is enabled in the platform settings, stop orders are placed at a specified price instantly without displaying the trading dialog.
Stop Loss is used for minimizing losses if the security price moves the wrong direction. Once a position becomes profitable, its Stop Loss can be manually moved to a break-even level.
Trailing Stop automates this process. This tool is especially useful during a strong unidirectional price movement or when it is impossible to monitor the market continuously for some reason. Trailing Stop is always associated with an open position or a pending order. It is executed in the trading platform rather than on the server like Stop Loss. To set a Trailing Stop, select "Trailing Stop" in the context menu of a position or an order in the "Trading" tab: Select the desired value of a distance between the Stop Loss level and the current price.
Use the " Set custom level" button to set Trailing Stop manually:More...