To trade using the Order module, start the module by clicking Order on the toolbar. The module window appears in the right part of the screen by default. To start using the module, select the relevant instrument in the Instruments module and drag it into the Order module. Now you are all set to go.
To trade using the Order module, start the module by clicking Order on the toolbar. The module window appears in the right part of the screen by default. To start using the module, select the relevant instrument in the Instruments module and drag it into the Order module. Now you are all set to go.
Market – creates a sell or buy market order.
Limit — a limit order will be filled when the market price increases to the specified level. When selecting this type of order, be sure to specify the price in the Price field; when this price level is reached, the order will be filled.
Stop — a stop order will be filled when the market price decreases to the specified level. When selecting this type of order, be sure to specify the price in the Stop Price field; when the price drops to this level, the order will be filled.
For any order type, select the Duration of the current order from the following options: Day – good till the end of the trading day, or GTC – good till canceled, IOC immediate or cancel, FOK fill or kill.
To finish creating an order, click Sell or Buy. This will finish the process of order creation, and you will be able to see your order in the Current Order module.
You can also place Take Profit / Stop Loss orders from the lower panel of the section. After entering the quantity of assets you want to buy or sell, specify the type of your order: you can choose a specific price, the desired price change in absolute values or in pips. If you choose pips, please make sure you enter integers. market price.
The two TP and SL orders allow you to avoid the hassle of sitting in front of your screen and waiting for the outcome, as they will be executed automatically as soon as the price reaches order level. Moreover, TP and SL orders are linked together so when TP order is executed, SL order is automatically cancelled and vice versa.
Please bear in mind several tips when placing a TP and SL orders:
- both Limit and Market TP/SL orders are directly shown in square brackets in the Current Orders module
- imit TP/SL order have Pending status, while entry order has a Working status
- market TP/SL order have Working status as entry order is executed immediately at market price.