How to manage your trades
Orders and positions may be placed in a few different ways:
From the ‘Watchlist’ Widget
To buy or sell a currency, choose it in the Watchlist widget and click the “Trade” button. When you click on this, the “New Order” form will load so you can enter the specifics of your deal.
From the ‘Chart’ widget
A) To place an order, use the Buy and Sell buttons (red and green) in the upper left corner of the Chart widget. In the resulting order form, you may specify the trade side, the order type, the quantity, and the price.
b) To place a buy or sell order, click the right mouse button in the chart field to bring up the trade selection tool. Afterward, a place to put in orders will pop up. Trading from the chart is an ideal alternative to physically going to the market to place limit orders.
From the Dashboard Widget
To submit an order, click the appropriate Buy or Sell option. When time is of the essence, this widget comes in handy.
A “New Order” window will appear when you place an order using any of the ways above.
Choose the appropriate options for your order in the drop-down menus under “New order.”
- For further information on the various orders, please refer to the article “Order Types.”
- Trading Currency Amount Order Direction (Buy or Sell)
- Safety instructions for preventing losses and maximizing gains are known as Stop Loss and Take Profit
- This order’s execution will use a certain margin amount, as shown in the margin effect.
- You may estimate when your order will be executed, and the Margin Impact will show you how much margin you need to open the order you chose, plus the Unrealized P/L (determined by the gap between the bid and ask prices).
- After making changes to your order, double-verify your chosen parameters and the resulting margin impact. To submit your order, click the “Send Order” button.
How to modify or cancel Orders
Swap out, alter, and update the specifics of your purchase.
Select this option to cancel the current order.
Positions
How to modify or close Positions
All information regarding your open positions, including fill price, size, unrealized P/L, etc., are shown in the Positions Widget.
If you double-click a position, the Modify Position window will appear; if you right-click, a menu will appear from which you may choose from the following options:
Adjust holdings by inserting protective Stop Loss and Take Profit orders
Complete or partial liquidation of a position
Taking two opposing positions on the same instrument and netting them out is called a “close-by position.”
Partially close a Position
The regular trading mode must first be enabled to avoid an unintentional complete closure of a position while attempting a partial closure.
Click Close Position in the resulting pop-up menu after right-clicking the location where you want to finish:
Enter the amount you want to close in the “Amount to Close’ section of the ‘Close Position” window (as shown in the screenshot below). Then, when you’re ready to confirm a partial position closure, click “Close position.”
Net out Opposite Positions / Close By Position
Using the “Close By Position” option, you may net out two opposing open positions (“Bought” and “Sold”) in the same instrument into a single position.
Right-clicking on a position will allow you to shut it with its opposite. The option to “Close by Position” will appear in the menu if more closing positions exist. A “Close by Position” popup will appear if you click it.
You may apply the inverse position to the original position by selecting the corresponding option from the list of positions provided for the action, as seen in the image. Finally, confirm the positional net by clicking the “Close by” button.
When the transaction is finalized, the minor position will be closed, and the more prominent position will be decreased by the amount the minor position was shrunk.
Trade activity log (Messages widget)
All recent order activity (placed, canceled, rejected, amended, or completed), margin calls, position liquidation alerts, and other system messages are recorded in the Messages widget.
The Messages widget will keep its data for a while. However, it may be deleted during routine maintenance when the web server is reset or restarted.
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