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:
General order parameters:
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: "Fill or Kill" or "Immediate or Cancel". 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.
In the 'Fill Policy' additional order filling rules can be specified: "Fill or Kill" or "Immediate or Cancel". If this field is inactive, then the option is disabled on the server.
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.
A list of open positions:
A list of placed pending orders:
Trading account state:
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: financial instrument, type, volume, current profit/loss and more. 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 name of the currency or financial instrument.
The volume (in units) of a trader's position for the currency or financial instrument including leverage.
Instrument or currency exchange rates in the deposit currency.
The amount of deposit currency (excluding leverage) actually spent to buy/sell the currency or trading instrument.
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).
To switch between the information on short and long positions click on the diagram title.
The displayed account assets for the deposit currency take into account the free margin.
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: as one of the currencies in a pair, as a base currency, etc. For example, you may have oppositely directed positions on GBPUSD, USDJPY and GBPJY. 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.
Let's use the same three positions as an example:
We have bought and sold 100 000 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. Unlike the previous model, the funds are withdrawn/added right when deals are performed. For example, if you buy EURRUB, you receive EUR at once while the appropriate sum in RUB is withdrawn from the balance. During trading, the account balance may even become negative: when you use borrowed money while purchased assets are used as the collateral. 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: Limit, stop-and stop-limit. 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: its volume is increased or decreased. 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.
There are several ways to modify stop levels:
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:
Then Click "Modify...".
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:
Increase or decrease of position volume depends on the position accounting system adopted on the trading account.
For one financial instrument only one position can exist at any given time. Differently directed positions (buy and sell) are not allowed.
Thus, if you execute a trade operation to buy 1 lot of a financial symbol, and there is an open 1-lot sell position, the position is closed.
If you have a 1-lot buy position and execute a trade operation to buy one more lot of the same instrument, you will have one position of 2 lots. The open price is recalculated in this case — the weighted average open price is calculated: (Price of the 1st deal*Volume of the 1st deal + Price of the 2nd deal*Volume of the 2nd deal)/(Volume of the 1st deal + Volume of the 2nd deal).
The same is true for an opposite deal. If you have a 1-lot buy position and execute a trade operation to sell 0.5 lot of the same instrument, you will have one buy position of 0.5 lots.
Multiple open positions of the same symbol can simultaneously exist on the trading account, including oppositely directed ones (Buy and Sell).
The volume of an existing position cannot be increased.
To partially close a position, click "Close Position" in the context menu of the appropriate position. Next enter the value of the volume to close and click "Close...".
In trading it is important to evaluate the correctness of market entry and exit moments. This can be conveniently done through the graphical representation of executed deals on the symbol's price chart.
Choose an open position or a trade on the Trade or History tab, and select "Show on Chart" from the context menu:
Deals can also be visualized by dragging them from the Trade or History tabs to a chart using a mouse:
All executed deals can be automatically visualized on a chart. To do so, enable the "Show realtime history of deals on chart" option in the platform settings.
In order to profit from exchange rate differences, it is necessary to close the position. To close a position, a trade operation opposite to the first one is executed. For example, if the first trade operation was buying one lot of GOLD, one lot of the same security must be sold to close the position.
To close an entire position, double-click on it or use the command " Close Position" in its context menu on the "Trade" tab.
Upon clicking "Close..." the position is closed.
This operation allows closing two opposite positions of the same symbol. If the positions have different volumes, only one position will be left open. Its volume will be equal to the difference between the volumes of two closed positions, and the direction will correspond to the larger position.
In contrast to separate closure of two positions, the Close By operation saves the trader one spread:
This type of operation is only available in the hedging position accounting system.
Click twice on a position or select "Close Position" in its context menu on the Trade tab. In the Type field select "Close By":
Select an opposite position and click "Close".
During the Close By operation an order of the "close by" type is placed. Tickets of positions to close are specified in its comment.
A pair of opposite positions is closed in two "out by" deals.
The total profit/loss resulting from the close by operation is only specified in one deal.
A pending order is the trader's instruction to a brokerage company to buy or sell a security in future under pre-defined conditions. For example, if you want to sell EURUSD at 1.10800, but the price has not risen to that level yet, you do not have to wait. Place a pending order and the broker will perform it, even if the trading platform is closed at that point.
Stop Loss and Take Profit can also be specified in a pending order. They will be set for the position that opens based on the order.
Six types of pending orders are available in the platform.
A pending order can be placed in different ways:
After that, in the order placing window select "Pending order" in the "Type" field and the necessary symbol in the "Symbol" field:
Limit orders are placed in the expectation of price "rollback". The trader expects the price reaches a certain level, for example support or resistance, and then moves in the opposite direction.
These orders are executed at a price equal to the specified one or better than that. Accordingly, no slippage occurs during order execution. The downside of these orders is that their execution is not guaranteed, since the broker may reject an order if the price goes too far in the opposite direction.
Here is how we can place a Buy Limit order.
In this example, the price is at the level of 1.25350, and the trader places a limit order to buy at the price of 1.24620 expecting that the price will reach the support level of 1.24453 and will continue to move upwards.
It is the opposite for Sell Limit orders. They are placed in anticipation that the price will rise to a certain level and will go down.
Stop orders imply expected breakthrough of certain levels. The trader expects the price to reach a certain level, break it through and move on in the same direction. The trader assumes that the market has reversed, having reached the support or resistance level.
When such an order triggers, a request to execute a corresponding market order is sent to a broker. The order is executed at the price equal to the specified one or worse than that. In other words, if the market price goes opposite, the order will be filled with a slippage. However, unlike limit orders, the execution of stop orders is guaranteed.
In this example, the price is at the level of 1.28190, and the trader places a stop order to sell at the price of 1.27600 assuming that the market has reversed at the level of 1.28260 and will move downwards.
It is the opposite for Buy Stop orders. They are placed assuming that the market has reversed, and the price will rise.
This is a combination of a stop and a limit order. If the price reaches the stop price, a limit order is placed. This type of orders is used when a trader wants to set a stop order and limit the slippage.
In the example below, a stop-limit order is placed with the expectation that the price will reach the resistance level 1, will roll back from it, and then will rise to the resistance level 2.
Pending orders can be placed from the chart using the Trading submenu of the chart context menu:
Place the mouse cursor on the necessary price level on the chart and execute the appropriate context menu command.
Depending on the cursor position, available order types are displayed in the menu. If the menu is activated above the current price, a user can place Sell Limit and Buy Stop orders. If the menu is activated below the current price, Buy Limit and Sell Stop orders can be placed.
Available distance between the selected and current price for the symbol is additionally checked ("Stops level").
Once the command execution, the Order window appears allowing the user to adjust its parameters more precisely.
If the One Click Trading option is enabled in the platform settings, orders are placed at a specified price instantly without displaying the trading dialog.
Sometimes you may need to modify a pending order: set a new activation price, change stop levels or its expiration time.
To modify a pending order, click " Modify or delete" in its context menu on the "Trade" tab.
If parameters are set incorrectly, the "Modify" button becomes inactive.
Modification of pending orders on a chart is only available if the "Show trade levels" option is enabled in the platform settings.
Once a level is set, the order modification appears allowing users to adjust the level more precisely. If "One Click Trading" option is enabled in the platform settings, orders are placed at a specified price instantly without displaying the trading dialog.
Changing pending orders on the chart can be disabled by enabling "Disable dragging of trade levels" option in the platform settings.
You can change or remove your pending orders, as well as set a trailing stop using pending order's context menu on the chart:
A pending order can be deleted from its modification window by pressing the "Delete" button. Pending orders can also be deleted automatically at the time specified in the "Expiration" field. A deleted pending order is marked as "Canceled" on the History tab of the Toolbox window.
The pending order can also be removed directly from the chart using the context menu.
The platform provides full access to the trading history of an account, as well as various tools for analyzing it. Open the "History" tab of the Toolbox window.
A list of trades on the trading account:
Deal execution result relative to the initial deposit:
The current account balance is displayed at the end of the line.
Switching between history representation modes.
Filtering history by financial instruments and volume switching between lots and units.
If the account trading history is too large, or you need to access data for a certain time interval, select the desired period here.
A report can be saved as a file and shared with other traders or analyzed using external software. In addition to the list of operations and results on the account, the trade report includes various statistics.
You can also choose to display all trades on charts and analyze the efficiency of entries and exits.
The trading history can be presented in various forms:
The alerts are used to notify of market events. Having created alerts, you may leave the monitor, and the trading platform will automatically notify of the specified event.
Alerts are configured on the "Alerts" tab. An alert can be created via the context menu or by pressing Insert.
The data of this financial instrument are used to check the alert conditions. If the alert condition is "Time", the symbol does not matter.
The condition under which the alert triggers:
An action executed when the event triggers:
Alert lifetime. An alert can be automatically deleted at the specified time. The local computer time should be indicated here.
The value of the price, volume or time to trigger an alert.
Depending on the selected action type, specify here:
Time between alert repetitions.
Maximum number of alert repetitions.
Enable or disable the selected alert. When disabled, an alert is not deleted, but becomes inactive.
The "Test" button allows to test the selected alert. To apply the changes, click "OK".
To send event alerts as emails, configure the mailbox parameters in the platform settings.
If Email is selected for the alert action, a click on the button opens a window where you can create the email:
In the "To" field, add the name of the mailbox to which the email will be sent. Next enter the email subject. Below is the field for entering the message text. You can insert various macros into the text using "Macros" command of the context menu:
Once you have created the email click "Apply".
An alert can be quickly created right on a chart. Click " Alert" in the chart context menu:
An alert is created for the symbol of the chart. If the menu is opened above the current price the alert is created with condition "Bid > selected price", below the current price — "Bid < selected price". Alerts created from the chart are automatically set to expire. The expiration time depends on the chart timeframe:
Alerts are displayed as red arrows on the right side of the chart of the corresponding instrument:
The price level of an alert can be modified directly on the chart. Just drag the alert arrow using a mouse.
The alert modification feature on the chart is unavailable if the option "Disable dragging of trade levels" is enabled in the platform settings.