This article contains all the steps that were recorded when placing a new trade, applying a stop loss and placing a limit order (target price).
Step 1: Log into your ETX Pro trading account.
Step 2: Find the product you wish to trade.
Step 3: Insert the amount (£) you wish to trade per pip.
Step 4: If you are selling the product click sell (red), if you are buying the product click buy (blue). This is a sell order example.
Step 5: Once clicked, your order shall be placed and the ‘open positions’ tab shall display your trade.
Step 6: Click on the ‘X’ to close the current ticket.
Step 7: To add a stop loss and limit order, first click on the plus sign as below.
Step 8: Now click on order.
Step 9: An order ticket shall open. To place a stop loss, click ‘Stop’.
Step 10: Then place in the level field which price you would like the trade to stop if it goes against you. Or you can input the number of pips.
Step 11: A stop loss should always be carefully calculated to prevent any needless loss of capital.
Step 12: Placing a stop loss calculated by the number of pips for a sell trade should be in a positive number (so above the sell price) and a stop loss for a buy trade should be in a negative number ie with a minus before the number of pips (so behind the buy price).
Step 13: To place a limit order (target price / profit taking), click on ‘Limit’.
Step 14: Enter the price you wish the order to be closed in profit.
Step 15: Make sure you price is correctly in the minus or positive in accordance to the type of trade you have placed (sell or buy).
Step 16: You are also able to place a limit order with a preferred number of pips if you do you want to place one with an exact price.
Step 17: When you have checked everything is correct, simply press Amend.
Step 18: That is it. Congratulations, you have placed your first trade.
Sinder Trading Academy places all their trades with ETX Capital’s ‘TRADER PRO’ trading platform for spread-betting. We also feel our money is safe with ETX Capital and we think their TRADER PRO is a great tool. If you haven’t already opened your ‘FREE’ ETX Capital Account and claimed your FREE Bonus Offer, then you can do so here and then choosing TRADER PRO.