Add Stop/Limit Order to Position

Brief

This section describes all possible ways of adding a stop/limit order to a position.

Details

To add a stop/limit order to a position

1. Do one of the following:

• In the Open Positions window, click the Stop/Limit cell of the position for which the order is placed.
• On the toolbar, click Stop/Limit.
• In the Open Positions window, right-click the position to which the order is to be added, and then click Stop/Limit.
• On the Trading menu, point to Open Positions, and then click Stop/Limit.
• Press ALT + L.
  Note: Before you click the command or press the keyboard shortcut, make sure that the position is selected in the Open Positions window.
2. The Stop/Limit Order dialog box appears.
   
   
3. To choose the order type, select the Stop or Limit check box.
   To view a five minute chart for the order symbol, click Chart.*
   On the chart, you will see a line on the level of the order price. You can change the order price by dragging its line to the necessary level.
   You will also see the position line if the position price is currently visible on the chart; otherwise, you will see the position marker at the upper or lower border.
   
4. Specify the price for the stop/limit order if necessary. The price can be specified either directly, by selecting or typing the price in the appropriate box, or through a distance in pips from the market price.
   Note: You cannot specify the price for your stop/limit order through a distance in pips if it is not supported by the server. In this case the In pips check boxes are disabled.

• To specify the price directly, select or type the price in the appropriate Rate box.
• To specify the price through a distance, select the In pips check box, and then select or type the distance in pips in the appropriate Rate box.
  Note: When you specify the price through a distance:

• The price for a stop order is calculated from the current close price.
• The price for a limit order is calculated from the best of the prices: the position open price and the current close price.
5. To make your stop order a trailing stop, in the Trailing box, click the necessary step type. If you choose a fixed step trailing order, select or type the step in pips in the next box.
6. Click OK.

Once the order is created, you will see the price of your stop/limit order in the Stop/Limit column in the Open Positions window.

* If Marketscope is not installed on your computer, there is no Chart button in the dialog box, and the chart is unavailable.