Buy and Sell Order
1. On the charting window press right click your mouse. Choose buy/sell in the menu option that popped up, and Send Order window will be open.
2. Choose your currency pair in the Instrument box. Example: GBP/USD.
3. Enter the amount of Quantity you want. I suggest to use only 5-20% from your deposit money, it’s because you must have margin to hold some loss position.
Example: Your deposit money is $5.
Use only 10% = $0.5. Fill Quantity with $0.5 x 100 = 50.
4. In the Desk box, choose Virtual Trading if you want to practice your trading skill using virtual money , or choose Live Trading if you ready to trade using your real money.
I suggest to choose Virtual Trading for a beginner, practice your trading skill first to learn and know how to trade.
5. In the Buy/Sell box.
- Choose buy when do the transaction with up prediction.
- Choose sell when do the transaction with down prediction.
6. Price Type :
- Market : An order to immediate execution based on market price.
- Limit : An order to execute a transaction only at a specified price or better.
- Stop : An order that trades after a specified price level has been reached.
7. You can set the Exit Stop-Loss and Exit Target of your transaction.
- Exit Stop-Loss = Stop Loss (SL) = Losing point that set on the transaction.
- Exit Target = Target Profit (TP) = Profit target of transaction.
8. When your Send Order setting is complete, click OK.
9. Your position will be added in the Orders window, and in the Positions window when executed.
- You can set or edit the Exit Stop-Loss and Exit Target of your transaction by clicking on the number on Order/Position ID column, then click on Change button.
- You can stop/close the transaction manually, because of the loss or you have enough profit by clicking on the number on Order/Position ID column, then click on Close button.
How Much Max Quantity of Your Money
To know how much maximum quantity of your money, you can multiply it by 100, if you have $5 then multiply it by 100 and your maximum quantity is 500.
How To Count Your ProfitTo know how much profit that you can get each pip base on the quantity that you allocated, you must look the currency pair that you use. For EUR/USD and GBP/USD divide it by 10000, if your allocated quantity is 100 then divides it by 10000, and your profit for each pip is $0.01.
If you allocated 100 quantities and in each day you have 20 pips ($0.2) then in one month you will get total $4, that equal to 80% of your $5 money, larger than bank interest for money savings and deposits.