<Last updated 16.04.2020>
Hi! If you are interested in Forex please read carefully the below article that shows how trading is performed using a trading platform.
Opening of a position, or entering the market, is the first buying or selling of a certain amount of the security traded. A Position can be opened either by execution of a market order or by automatic triggering
of a pending order.
a) Market Order
New Order — open the “New Order” window where one can prepare and place a market or a pending order for the symbol selected.
> one can specify the Stop Loss and Take Profit levels on preparation.
By choosing the lot size and clicking BUY or SELL button you immediately send a market order from your account. This order is sent to the server of the Broker that offers you the brokerage service.
b) Pending Order -New Order — open the “New Order” window where one can prepare and place a market or a pending order for the symbol selected.
At the order preparation, one can specify the Stop Loss and Take Profit levels. Zero values of Stop Loss/Take Profit orders mean that the orders have not been placed at all.
c) Modifying of Open Positions -Modifying of the current position consists in setting of new levels of Stop Loss or Take Profit attached to it.
To modify a position, one has to execute the “Modify or Delete Order“. To change the Stop Loss or Take Profit values, one has to enter the new values in the corresponding fields.
d) Modifying of Pending Orders: One has to execute the pending order context menu command of “Modify or Delete Order” or double-click with the left mouse button on the pending order
status bar in the “Terminal — Trade” window.
e) Single Position Close: The Client Terminal allows closing positions partially. To do so, one has to specify the amount of lots less than that given for the opened position.
To work at financial markets more effectively, one can develop his/her own successful system of trading.
The development environment (MT4 programming) allows creating, debugging, and testing expert advisers. Experts are able not only alert about recommendation trading signals, but undertake the complete control over trading activities online.
(Auto Trading – MUST BE ENABLED)
MetaQuotes Language 4, MetaEditor and strategy testing tools are built in the terminal.
One can create the following using these means:
- Expert Advisors — mechanical trading systems that allow complete automation of analytical
and trading activities;
- Custom Indicators — independently written technical indicators intended for analysing of
- Scripts — programs to be executed only once, on request.
These are some of the basic trading operations. There are much more options and features.
The purpose of this article is to make you get familiar at least with the basics and the options possible through trading platforms.
Seek to learn all of them if you are interested by contacting us.
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