Technical Platform
The technical features of the trading platform enable traders to open positions easily, set limits and control the position terms, in order to easily manage risk.
Position: a trader’s action and view on a security/shares/futures etc.
Limit: a limit order sets restrictions on the maximum price to be paid or the minimum price to be received.
Position terms: set terms regarding a trader’s action and view on a security/shares/futures etc.
Technical Features
The 4 types of technical features of the platform are:
- Stop Loss/Take Profit Order
- 1-Click Mode
- Entry Order
- One-Cancels-the-Other Order
(1) Stop Loss/Take Profit Order
Stop Loss (SL): This is an automated feature that enables traders to set a limit on an order. The SL order will close the position automatically at a specific rate (that has been specified) to prevent
further loss.
Take Profit (TP) Order: This is an automated feature that enables traders to set a limit on an order. The TP order will close the position at a specific rate or amount (that has been specified) to capture a specific profit.
These features help traders to manage their risk even when they aren’t available, or when the price touches the target too quickly for traders to react.
For example:
If you buy USDCHF at 1.2220, you could set a SL order at 1.2200 in order to limit your maximum loss. But, if USD/CHF drops to 1.2200 instead of moving upwards, the system will automatically execute the SL order at 1.2200 and close your losing position, with a 20 pip loss.
A pip (point in percentage) is a small measure of change in a currency pair. It can be measured in terms of the quote or in terms of the underlying currency. It’s standardized and is the smallest amount by which a currency quote can change. That is usually $0.0001 for U.S.-dollar related currency pairs; it’s standardized size helps to protect investors from large losses.
(2) 1-Click Mode
1-Click Mode enables traders to monitor the market movements and make trades quickly. The 1-Click Trade mode allows traders to open a position without confirmation, in just one click.
(3) Entry Order
Traders can use the entry order when they wish to enter the market at a specified rate other than the current market price.
The entry order will automatically become an open position once the market reaches the price you have specified within the order.
Note: In the “Limit type” drop -down list you can place a SL/TP or OCO (One-Cancels-the-Other).
(4) One-Cancels-the-Other Order
A One-Cancels-the-Other Order (OCO) enables traders to quickly create two ‘linked’ entry orders; one above and one below the current market price. If one of the two orders execute, the other is automatically cancelled.
In summary
These 4 features allow traders to easily manage their risk, making the process as automated as possible. If traders aren’t quick enough or aren’t available when the market changes then they’re still able to manage risk, reducing losses to the minimum.
Stop Loss/Take Profit Order: helps traders manage their risk when they aren’t available, or when the price touches the target too quickly for traders to react.
1-Click Mode: allows traders to open a position without confirmation, in just one click.
Entry Order: enables traders to enter the market at a specified rate other than the current market price.
One-Cancels-the-Other Order: enables traders to quickly create two ‘linked’ entry orders.