Orders and Positions. How to manage your trades

Orders

(For a quick and easy-to-understand video, check out our ‘How to place an Order' video tutorial on YouTube.)

How to place Orders

There are several ways to place an order:

  • From the 'Watchlist' Widget Click the 'Trade' button for the currency you wish to trade in the Watchlist widget. This will bring up the 'New Order' form where you can select the parameters of your trade.

  • From the 'Chart' widget

    a) In the top left corner of the Chart widget you can click the red Sell or green Buy buttons to place an order. An order form will pop up, where you can choose the side of a trade, order type, quantity and price.

    b) When clicking the right mouse button in the chart field, a trade selection tool will appear, giving you the choice to place a Buy or Sell order. Next, an order entry tool will appear. Trading from the chart is perfect for placing limit orders away from the market.

  • From the Dashboard Widget Click the red Sell or green Buy buttons to place an order. This widget is very convenient when quick entry into the market is top priority

When placing an order with any of the methods mentioned above, a 'New Order' window will pop up:

In the 'New order' window, select your desired order parameters: - Order Type (See 'Order Types' for detailed info about order types) - Amount of the currency you wish to trade - Side of the order (Buy/Sell) - Stop Loss/Take Profit protection orders - Margin impact reflects the estimated amount of margin that will be used when executing this order

Margin Impact reflects the amount of your personal margin required to open the selected order + Unrealized P/L (based on the bid-ask spread) at the estimated moment of order execution.

After editing your order, make sure to double check your selected order parameters and Margin Impact. Click 'Send Order' to place your order.

How to modify or cancel Orders

The Orders Widget reflects all details about your active orders and allows you to manage these orders. Right-click on an order to open the drop-down menu with the following options:

  • Replace - modify and change your order parameters

  • Cancel order - cancel the selected order

Positions

How to modify or close Positions

The Positions Widget reflects all details about your open positions, such as Fill price and size, Unrealized P/L, etc. Right click on a position to open the drop down menu with the following options:

  • Modify position - set Stop Loss and/or Take Profit protection orders

  • Close Position - close a position entirely

  • Close By Position - close a position partially by another position

When attempting to close a position partially, make sure that Regular trading mode is enabled