Key Information Learn to Trade

How to place a trade – Simple step-by-step guide.

Written by Manny Sinder

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.

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Step 2: Find the product you wish to trade.

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Step 3: Insert the amount (£) you wish to trade per pip.

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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.

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Step 5: Once clicked, your order shall be placed and the ‘open positions’ tab shall display your trade.

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Step 6: Click on the ‘X’ to close the current ticket.

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Step 7: To add a stop loss and limit order, first click on the plus sign as below.

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Step 8: Now click on order.

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Step 9: An order ticket shall open. To place a stop loss, click ‘Stop’.

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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.

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Step 11: A stop loss should always be carefully calculated to prevent any needless loss of capital.

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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).

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Step 13: To place a limit order (target price / profit taking), click on ‘Limit’.

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Step 14: Enter the price you wish the order to be closed in profit.

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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).

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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.

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Step 17: When you have checked everything is correct, simply press Amend.

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Step 18: That is it. Congratulations, you have placed your first trade.

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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.

About the author

Manny Sinder

Manny Sinder is a professional trader, entrepreneur and author. All articles written by the author are solely his opinion and do not intend to vindicate any named person or institutions mentioned.

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