Placing a trade
Before placing a trade, there are various factors that need to be considered. These factors include Margin Available, Market Status and Margin Requirement. If the product’s market status is ‘Open’ then you will be able to place an opening or closing trade on this product. It is advisable to view the product’s Product Information screen to familiarize yourself with the parameters that will affect the margin requirement, your P&L and risk of the trade.
Once you open a deal ticket, input the stake/trade size. You will notice that the Trade Value and Margin Requirement figures are displayed. You will not be able to place a trade if the margin requirement exceeds your margin available.
To reduce your margin requirement and to help limit the liability of an open position from downside risk you can now enter a stop loss level. Based on the level of the stop loss, your margin requirement will change accordingly. To the left of the stop loss input field, the minimum stop distance and (if applicable) minimum guaranteed stop distance will be displayed. By hovering your mouse over the stop loss field, the tool tip will display the estimated distance and potential profit/loss incurred if triggered.
If you would like to place a limit profit onto your trade, enter a value into the Take Profit field. There is no minimum distance for the Take Profit. Hovering your mouse over the Take Profit field will also display an estimated distance and potential profit made if triggered.
When you are happy with the values that you have input you may click the Place Trade button. You will receive a trade confirmation once the trade has been placed. If not successful, you will receive a notification advising you why your trade was not successfully placed.
If your trade is accepted, your newly opened trade will be in the Open Positions and Orders window. When you select the ‘Open Positions’ tab, you can view the position details etc. If you have attached a stop to your trade, there will also be either a ‘G’ or ‘N’ displayed under ‘Linked Orders’. The ‘G’ indicates that the stop loss is Guaranteed, while the ‘N’ indicates that the stop loss is Non-Guaranteed.