![]() Click on the “Save template” button and choose a name.Enter the details of the order on the ‘New order’ screen.a buy-limit 20 pips below the current price, with a 100-pip s/l and t/p – then you can save this as a template for quick re-use in future: If there is a type of order which you place regularly – e.g. You would typically use this if you are expecting a move in either direction followed by a return towards the current price – e.g. In this case the Mini Terminal places a buy-limit and sell-limit, rather than a buy-stop and sell-stop. For example, there are many trading strategies based around trading the breakout, in either direction, of yesterday’s range. You would typically use this when you are expecting a major price movement, but you don’t know whether the move is going to be up or down. Once one of the pending orders is filled, the other is automatically cancelled. You specify two prices, or two values in pips, either side of the current price, and the Mini Terminal places a buy-stop and a sell-stop. You will find these by clicking on the button and selecting OCO (one-cancels-other) from the drop down ‘Order type’ menu. Using the MT4/5 cross-hairs to do this (use the button on MT4/5’s toolbar) will help to identify the exact price you are selecting. If the price you click on is above the current price then you can create a buystop or a sell-limit if the selected price is below the current price then you can create a buylimit or a sell-stop. If you hold down the Ctrl key while clicking on the chart, a small window will pop up letting you create a pending order at the selected price. You can also create pending orders from the chart. For example, if you choose a buy-limit and enter a value of 20 pips rather than a price, then the limit order is created 20 pips below the current price.ġ.2.1 Placing pending orders directly from the chart The entry price for pending orders can be defined either as a fixed price (e.g. You can choose the order type and entry price, stop-loss, take-profit etc. You can place pending orders (limits and stops) by clicking on the button. For example, if you are trading 0.25 lots, and you want a stop-loss which is equivalent to $100, then you can Ctrl+click on the S/L field and tell the calculator to work out the number of pips which is equivalent to a fixed cash risk of $100. You can open calculators for each of the order fields – the volume, s/l, t/p, and trailing stop – by holding down the Ctrl key while clicking on them. You can control the lot size on new orders, and set a stop-loss, take-profit, or trailing-stop using the fields above the buy and sell buttons. +0.10 if you are long 0.1 lots, or -0.10 if you are short 0.1 lots. The status indicator at the top of the Mini Terminal will show your current net position, e.g. MT4/5 will show its usual dotted horizontal lines on the chart for each order.
0 Comments
Leave a Reply. |