PriceMotion allows you
to make a trade (Open long/Buy or Short/Sell position).
In order to Open Long (or close Short) position you must simply
click on the BUY-button on the Simulation Toolbar.
There are possibilities to open different
kinds of orders:
Market Order (by default) - the
best available price at this moment.
Market Order - An order to buy or sell which is to
be filled at the price immediately available; the current
rates at which the market is dealing.
Example: If you are looking to place an order for
JPY when the dealing price is 104.00/05, a market order will
request to buy JPY at 104.00 or will request to sell JPY at
104.05.
Sell/Buy Limit Order.
Limit Order - An order that becomes a market order
when a particular price level is reached. A limit order is
placed above the current market value of that currency.
Example: If you have an open buy JPY position,
which you bought at 104.00 and you want to set a limit order
to protect your profit, you would set a limit order at a number,
which indicates that JPY has appreciated, such as 103.5. When
the market reaches 103.5, your position will automatically
be closed, resulting in a 50-pip gain.
Sell/Buy Stop Order (see the
picture below).
Stop Order - An order that becomes a market order when
a particular price level is reached and broken. A stop order
is placed below the current market value of that currency.
Example: If you have an open buy JPY position,
which you bought at 104.00 and you want to set a stop order
in case JPY's value starts to depreciate (to stop your loss).
Since the JPY's currency appreciates when the dealing rate
moves from 104.00 closer to parity with the USD (102 JPY/1USD),
a movement in the opposite direction would necessitate a stop
order. For instance, you could set a stop order rate to sell
JPY at 104.50, thus closing your position at a 50-pip loss.
OCO Order.
OCO Order - One Cancels Other. An order placed in order
to take advantage of price movement, which consists of both
a Stop and a Limit price. Once one level is reached one half
of the order will be executed (either Stop or Limit) and the
remaining order canceled (either Stop or Limit). This type
of order would close your position if the market moved to
either the stop rate or the limit rate, thereby, closing your
trade, and, at the same time, canceling the other entry order.
Example: If you have an
open buy JPY position, which you bought at 104.00 and you
want to set a limit and a stop order, you could place an OCO
order. If your OCO limit rate was 103.5 and OCO stop rate
was 104.50, once the market rate reaches 103.5, the original
JPY position would be closed and the stop rate would be canceled.
You can also cancel existing order(s)
and change
Quantity of contracts.
On the Intraday and Daily windows you change Bar/Candle/Line
colors (by default RED color - for long position(BUY), and
BLUE color - for short position(SELL)).
You can also choose the color of your
choice and boldness
of the pen in the Options dialog.
If you Open Short position
and want to close it, click the same BUY-button (Market order
setting). In order to Open Short (or close Long) position
you must simply click on the SELL-button on the Simulation
Toolbar.
If you Open Long position, and
want to close it, you must click on the same SELL-button (Market
order setting). If you close your position (Short or Long),
your balance on the Balance window will be updated. On the
Graph above trading activities (BUY order, then SELL order)
that took place before.
A lot of possibilities are available to change Sell/Buy orders.
Options can be set from the Option dialog box.
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