Each row in the "Order" window contains
information about a specific active entry order.
In the first column, there is a unique order ID
that enables the trader to easily track each entry
order.
Account
This is the account number. This is particularly
relevent for those that trade more than one account
via the same Login.
T (Type)
There are two types of entry orders:
Limit entry
Stop entry
If "LE" appears under the Type column,
the order is a limit entry. When placing a limit
entry order, the trader expects the exchange rate
to move to a pre-specified level and reverse direction.
The limit entry order will be executed if the
exchange rate touches the pre-specified level.
Limit entry orders are classified as entry orders
whereby the rate specified is either below the
current market rate if it is a buy order, or,
alternatively, above the market rate if it is
a sell order. Limit entry orders are often conducive
to strategies pertaining to range-bound markets,
whereby clients can place orders to buy at the
bottom of the range and sell at the top.
"SE" indicates a stop entry order. When
placing a stop entry order, the traders expects
that if the exchange rate breaks through its pre-specified
level, the exchange rate will continue to move
in the same direction. The stop entry order will
be executed if the exchange rate breaks through
the pre-specified level. Stop entry orders allow
the trader to buy at a price above the current
market rate, or, alternatively, sell at a price
below the current market price. Stop entry orders
are conducive to "breakout" strategies,
whereby the trader believes that if the specified
rate is reached, the trend's movement is confirmed
and thus will continue in that direction.
Status
If the status says "waiting" this indicates
that the order has not been filled. When the price
reaches your pre-determined entry point, the status
will change to "executed" and the order
will drop into the "open positions window."
Currency
This column simply represents the currency pair
that you would like to buy or sell if the exchange
rate reaches your pre-determined entry point.
Amt K
Amount K - the size of the position in increments
of 100,000 of the base currency.
Sell/Buy
If you wish to SELL the currency pair when the
BID (sell price) reaches a certain price, your
pre-determined entry price will be reflected in
the "sell" column.
If you wish to BUY the currency pair when the
ASK (buy price) reaches a certain price, your
pre-determined entry price will be reflected in
the "buy" column.
Stop and Limit
This reflects any stop-loss or limit-order that
was attached to the entry order. The Stop and
Limit orders that appear in the "Order"
window are non-active orders until the entry order
is executed.
The entry order will then disappear from the "Order
Window" and appear in the "Open Positions"window
with the stop and limit orders becoming active
Time
Each order bears a time stamp for when it was
placed
HIGHLIGHTING
In the forex trading system "Orders"
window, one of the rows will be highlighted. The
highlighted position will be the "default"
position when you enter orders to "remove
order" or "S/L OP".
To change the highlighted position, click on the
gray box on the far left of the row In the margin
call box, there will be a Y (yes) or N (no).
