Trading window allows you to set: Market order, Stop order, Limit order.
Step-by-step guide:
1. Select side - SELL or BUY.
2. Select order type - Market order, Stop order, Limit order.
3. Select volume – Volume.
4. Set Take Profit and/or Stop Loss.
You can choose:
- Absolute value (Price)
- Buy = (Price - Current Ask)/tick_size
- Sell = (Current Bid – Price)/tick_size
- Value in (Pips).
By default Pips = 10.
- Buy = Current Ask + Pips*tick_size
- Sell = Current Bid - Pips*tick_size
5. Set up risk amount on your trade – Risk USD и Risk % (Stop Loss).
Risk USD and Risk % are risk parameters in account currency according to Equity.
Risk USD and Risk % depend on Volume and Pips.
- Risk USD (absolute value in in account currency)
Risk USD = Volume*Pips*tick_size
- Risk % (relative value of risk to Equity in %)
Risk % = Risk USD/Equity
6. Expiration Time Availability (Buy Limit, Buy Stop, Sell Limit, Sell Stop):
Good Till Cancelled - Order will be valid immediately after setting until cancelled.
Day Order - Order will remain until the end of trading day, in which case it will be cancelled if not triggered.
End of Week - Order will be valid till the end of the week, which is Friday.
End of Month - Order will be valid till the last Business day of the month.
Select Date and Time - Personal Preference of chosen validity.
7. Edit deal TP/SL
Additional value is added when the deal will be closed according to the chosen price - Result in account currency. It will allow you to estimate your trading result.
Take Profit
- Buy = (Take Profit Price – Entry Price) * Volume / Converted to account currency
- Sell = (Entry Price - Take Profit Price) * Volume / Converted to account currency
Stop Loss
- Buy = (Stop Loss Price – Entry Price) * Volume / Converted to account currency
- Sell = (Entry Price – Stop Loss Price) * Volume / Converted to account currency
