Opening a Position
Last updated
Last updated
You have 20 FX symbols to choose from on the left side of your panel. Click on whichever one to open the chart.
With a symbol selected you can choose to open a trade with the execution panel in the top of the chart Click either BUY or SELL, donβt worry you can change it in the next step:
You must set a Take Profit (TP) and Stop Loss (SL) for every single position. The minimum number for TP and SL is 5 pips. Be careful with exotic pairs with wide spreads if you want a tight Stop Loss.
You cannot set your SL further than your pips available. In the above example with 50 pips available you can open 1 trade with a 50 pip SL, or 2 trades with 25 a pip SL, or 10 trades with a 5 pip SL. So long as you donβt go beyond 50. If you open one trade with a 25 pip SL, it will leave 25 pips available for you to open positions on other symbols.
Here is an example of if we were to open a trade with a 25 pip SL and a 100 pip TP, you will see your position is opened in milliseconds and youβll be able to see it in the Levels terminal
We are going from the assumption that you have 50 pips available.
If this trade hits TP, you will go up a Level if you set your target to 100 pips. If this trade loses, you will still have 25 pips (50-25) to open as many trades as you like. If you close your trade early with, say 25 pips profit, you will have 75 to trade with, you can take a 50 pips trade but with a shorter ratio of 2-1 instead of 4-1 like the one before, get those 100 pips and continue with the next level.