FX
Trading Station "Stop/Limits"
on Open Positions
There are four different
ways to open the "Stop/Limit Order"
Box
Open
the "Stop/Limit Order Box"
1. In the forex trading system "Open Positions"
window, left-click on either the "stop"
or "limit" box of the highlighted ticket
the trader wishes to update.
2. Or, right click on
the appropriate stop or limit box from the highlighted
ticket and select the "Stop Order"
command from the pop-up menu
3. Click on the "Stop/Limit" button
at the top of the trading screen, which causes
the "Stop/Limit Order" box to appear.
4. Click on the "Action" heading located
on the top of the screen above the "Quote"
button. From there, select "Positions"
and then "Stop/Limit".
Stop/Limit
Order Box
There are three parameters a trader can set
prior to sending an order to the trading desk.
Ticket
Select the specific ticket number of the ticket
the stop or limit will be placed on. The "ticket"
option will automatically default to whichever
ticket is highlighted in the "Open Positions"
window. However, any ticket can be selected
by simply scrolling down the list of numbers
and clicking on the correct number.
Stop/Limit
This command will allow the trader to place
either a stop or limit order on the selected
ticket.
Rate
This command will allow the trader to select
the exchange rate at which the stop or limit
should be triggered. The rate automatically
defaults to 5 pips below the current sell rate
for stop orders, and 5 pips above the current
sell rate for limit orders. However, the trader
can click on the box to the right of the "Rate"
option and enter a specific rate for their stop/limit
order.
At any time during the stop/limit input process,
the trader can cancel the order by clicking
on the "Cancel" button. Click on the
"New" button after all the selections
have been made to place the stop/limit order.
Once the order is placed, the information will
be updated under the "stop" or "limit"
box in the "Open Positions" window.
Advanced
Click on the advanced button to place a trailing
stop.
Change
Price on Stop/Limit (open position)
To change the price for an existing stop/limit
order on an open position, the trader must enter
the new rate for the specific ticket number
in the "Stop Order" box. The trader
can bring up the "Stop Order" box
four different ways as explained in Stop/Limit
Market Orders section. The trader can then click
"Change" and the new rate should be
updated in the appropriate "Stop"
or "Limit" box in the "Open Positions"
window.
To delete an existing stop/limit order on an
open position, the trader must click on the
"delete" button in the "Stop
Order" box for the specific ticket number.
The trader can bring up the "Stop Order"
box four different ways as explained in the
Stop/Limit on Market Orders section. Once the
trader deletes the existing stop/limit order,
the applicable "Stop" or "Limit"
box in the "Open Positions" window
will be empty.
