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New order opening
Position opening is a purchasing or sale of the financial tool. In other words it is an opening of a position at which we buy something or we sell the financial tool. Position opening is performed at execution of the pending order, or at execution of the instant order.
To open a trading position, make the following:
After you will press "Sell" or «Buy», the special program on the trading server at the first possibility will open the position when the current rate will reach that value which was during the moment when you have pressed "Sell" or «Buy».
The position on purchasing opens in case your forecast shows that the rate will go upwards. Then you can open the position on purchasing to close the position when the rate will grow.
The same is in case of position opening on sale. If you consider that the rate will go downwards, open a position on sale and in the fullness of time close the position.
For an example position opening on sale is presented:
Here the currency pair of Euro-US dollar is chosen. The volume of the deal 0.01 means that 1 % from a lot
is used. Stop loss and Take profit are established. The deal type on immediate execution is established. If
you wish you can put the comment which will be displayed on a chart. This is not necessarily. After that
red "Sell" button is pressed.
There is also a probability of that your order will not be executed and you will receive "requote".
Requote is an answer of the broker program to the order which is sent by the client. In this message is reported about invalidity of the quotation on which the client wishes to open a position. This means that the rate has left from guessed price of realization of the order and does not come back to it.
Requotes often arise in volatile or low-liquidity markets, or when you receive a non-market quotations in the terminal.
To reduce probability of requote reception at Instant Execution, it is necessary to use «Enable maximum deviation from quoted price».
* Volatility is a measure that characterizes the tendency of market prices change over the time.
* Liquidity is an ability of assets to be sold quickly at close to market price.
It means that the broker program acquires the right to execute the order with the set deviation from the
set price at the moment of sending of the warrant to the broker program. It is possible to choose the given
deviation from the list, or to enter manually. At sending of the order with value of the maximum deviation,
the broker program is obliged to open the transaction in case of hit of the current quotation in the set
interval.
It is possible to establish the maximum deviation for more probable opening of the position in case of the big amplitude of rate fluctuation because it can be not opened in case the rate will go to this or that way without having reached level of your deal opening.
After "Sell" button has been pressed, at the chart window there is a following picture:
On a chart there was one green dashed line and two red. The green dashed line means level of a rate which
was at position opening. The red line above a green line is level of a stop loss. And the red line below a
green line is level of a take profit.
If the position on purchasing was opened then from above there would be a level of take profit, and from below stop loss.
When the rate will reach one of red lines, the transaction will be closed automatically. If the rate reaches to level of take profit, the transaction will be closed with profit, if the rate reaches to level of stop loss then the transaction will be closed with loss.
If you want to open the position on purchasing put level of take profit above a current rate, and level of stop loss below a current rate. After that press button "Buy". Other is the same as for the deal on sale.
The levels of stop loss and take profit are not necessarily. But this is not recommended to do it to beginning traders. Then the deal can come to the end with a heavy loss.
Now one more interesting moment. The variant of opening of the deal with immediate execution has been considered above. But there are so-called «Pending orders».
The penting orders there are 4 types: «Buy Limit», «Sell Limit», «Buy Stop», «Sell Stop».
The pending order is an instructions to the broker program to perform the transaction on
purchasing or sale in the future when the price will reach certain value. It is necessary for economy of
your time that you have not been adhered to the trading terminal pending when the rate will reach desirable
value.
Further follows the description of 4 types of the pending orders:
The pending orders are usual established with orders of stop loss and take profit. When the pending order executes, it is similar to the order with immediate execution.
It is possible to attach Stop Loss and Take Profit to the pending order. After operation of the pending order its Stop Loss and Take Profit are automatically attached to an open position.
The pending orders have the pluses and minuses. Pluses concerns that you save the time. It is possible to carry to minuses that immediate warrants can be established more precisely in the relation to a current situation in the market that raises chances of get profit.
Below is presented an example of the creation of pending order:
The main thing here is that the deal type is established in value «Pending order». Further in a framework
with an inscription «the Postponed warrant» gets out «Buy Limit» type, value of opening price of a position
is established.
Here date of the expiration of activity of the postponed deal can be specified. It should be established for that term as which you consider as the most significant for transaction opening according to the forecast.
Also the comment can be established. It will be displayed on a chart over level of opening of the position.
After you will press the button «place», you will see the following picture on a chart:
The current rate is specified by a thin white line. The green dashed line specifies level of opening of the
position when the rate will reach it. The top red line specifies level of take profit, and the bottom red
line specifies level of stop loss.
Pay attention that the pending order «Buy Limit» is established. It means that the current rate above level of opening of a trading position and is expected that it will fall to it and will go upwards. In this case at there is a chance to get profit.
Similarly for other pending orders with their features.
Position opening is a purchasing or sale of the financial tool. In other words it is an opening of a position at which we buy something or we sell the financial tool. Position opening is performed at execution of the pending order, or at execution of the instant order.
To open a trading position, make the following:
- Press F9 in a trading terminal or press "New Order" button which locates above of the terminal menu. The
window of the new order will be opened.
So the window of opening of a position looks: 
But for the better view, further its right part will be shown only. 
- Stop Loss - is a level of automatic closing of the position in case the market will go not to that way which you have assumed. Set its value not to lose more than you planning at worst. - Take Profit - is level of automatic closing of a position with profit. Establish its value in time to close the position to get profit. - It is possible to establish the maximum deviation that position opening was more probable in case of the big amplitude of rate fluctuation as it can be and is not opened in case the rate will go to this or that way without having reached level of opening of your position. - Choose preferred type of operation Sell or Buy. It depends on your forecasts where the rate will go. |
After you will press "Sell" or «Buy», the special program on the trading server at the first possibility will open the position when the current rate will reach that value which was during the moment when you have pressed "Sell" or «Buy».
The position on purchasing opens in case your forecast shows that the rate will go upwards. Then you can open the position on purchasing to close the position when the rate will grow.
The same is in case of position opening on sale. If you consider that the rate will go downwards, open a position on sale and in the fullness of time close the position.
For an example position opening on sale is presented:
There is also a probability of that your order will not be executed and you will receive "requote".
Requote is an answer of the broker program to the order which is sent by the client. In this message is reported about invalidity of the quotation on which the client wishes to open a position. This means that the rate has left from guessed price of realization of the order and does not come back to it.
Requotes often arise in volatile or low-liquidity markets, or when you receive a non-market quotations in the terminal.
To reduce probability of requote reception at Instant Execution, it is necessary to use «Enable maximum deviation from quoted price».
* Volatility is a measure that characterizes the tendency of market prices change over the time.
* Liquidity is an ability of assets to be sold quickly at close to market price.
It is possible to establish the maximum deviation for more probable opening of the position in case of the big amplitude of rate fluctuation because it can be not opened in case the rate will go to this or that way without having reached level of your deal opening.
After "Sell" button has been pressed, at the chart window there is a following picture:
If the position on purchasing was opened then from above there would be a level of take profit, and from below stop loss.
When the rate will reach one of red lines, the transaction will be closed automatically. If the rate reaches to level of take profit, the transaction will be closed with profit, if the rate reaches to level of stop loss then the transaction will be closed with loss.
If you want to open the position on purchasing put level of take profit above a current rate, and level of stop loss below a current rate. After that press button "Buy". Other is the same as for the deal on sale.
The levels of stop loss and take profit are not necessarily. But this is not recommended to do it to beginning traders. Then the deal can come to the end with a heavy loss.
Now one more interesting moment. The variant of opening of the deal with immediate execution has been considered above. But there are so-called «Pending orders».
The penting orders there are 4 types: «Buy Limit», «Sell Limit», «Buy Stop», «Sell Stop».
Further follows the description of 4 types of the pending orders:
|
- Buy Limit is a position opening on purchasing at «Ask» price achievement the established value.
In this case current price is more than level of the established order. Buy Limit is established in case
the forecast shows that the price will fall to the established value, and then will start to grow.
- Buy Stop is a position opening on purchasing at «Ask» price achievement the established value. In this case current price is less than level of the established order. Buy Stop is established in case the forecast shows that the price rises to the established value and will continue to grow. - Sell Limit is a position opening on sale at «Bid» price achievement the established value. In this case current price is less than level of the established order. Sell Limit is established in case the forecast shows that the price will rise to the established value and will start to fall. - Sell Stop is a transaction opening on sale at «Bid» price achievement the established value. In this case current price is more than level of the established warrant. Sell Stop is established in case the forecast shows that the price will fall to the established value and will continue to fall. |
The pending orders are usual established with orders of stop loss and take profit. When the pending order executes, it is similar to the order with immediate execution.
It is possible to attach Stop Loss and Take Profit to the pending order. After operation of the pending order its Stop Loss and Take Profit are automatically attached to an open position.
The pending orders have the pluses and minuses. Pluses concerns that you save the time. It is possible to carry to minuses that immediate warrants can be established more precisely in the relation to a current situation in the market that raises chances of get profit.
Below is presented an example of the creation of pending order:
Here date of the expiration of activity of the postponed deal can be specified. It should be established for that term as which you consider as the most significant for transaction opening according to the forecast.
Also the comment can be established. It will be displayed on a chart over level of opening of the position.
After you will press the button «place», you will see the following picture on a chart:
Pay attention that the pending order «Buy Limit» is established. It means that the current rate above level of opening of a trading position and is expected that it will fall to it and will go upwards. In this case at there is a chance to get profit.
Similarly for other pending orders with their features.
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