Placing Your First Trade
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In the trading panel, enter your desired trade size in the "Position Size" field. Then, click either the Long (buy) or Short (sell) button to place your market order. Next, you can set a take-profit and stop-loss by dragging the corresponding icons onto the chart.
stop-loss is an order that automatically closes your position when the price reaches a specific level to prevent further losses.
take-profit is an order that closes a position when the price reaches a predetermined profit level. When a take-profit order is triggered, it will cancel any existing stop-loss order.
If you want to buy or sell an asset at a better price, you can use a limit order. If you want to enter a trade when a certain level is broken, you can use a stop order. This order will open a trade at market price when the asset reaches your specified price level. To do this, hold the Space bar, select the desired price on the chart, and left-click to place a limit order, or right-click to place a stop order. In the example, we have placed a limit order above the current price and a stop order below, for a sell position:
Under the "Position Size" field, you will find additional order settings. For example, in the TIF dropdown menu, you can choose how long orders remain active:
DAY – until the end of the trading session;
GTC (Good Till Cancel) – until you manually cancel it;
FOK (Fill or Kill) – the order will either be filled immediately or removed.
Activating the OCO (One Cancels Other) mode will automatically cancel the second order in the group once one of the linked orders is executed.
