Trades
Size
You can set the size of new trade in Lots input field.
SL/TP
If you want to set Stop Loss or Take Profit, you can do it in SL and TP input fields. Setting zero will disable Stop Loss or Take Profit. SL and TP can be set in 2 ways. You can choose one of them from the drop-down list:
- In pips – as distance from trade’s open price, for example 20 pips
- As price – as price level, for example 1.00270
Opened trades will be visible on the chart in form of horizontal lines:
- green line – open price
- red line – Stop Loss
- blue line – Take Profit
They will also be shown on the list of trades in Trades window in Market & Pending tab. This window can be opened and closed with Trades button in main window.
Placing Pending Orders
Size
You can set the size of new pending order in Lots input field.
Execution price
Execution price can be set in Pending tab in main window in 2 ways:
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In pips – as distance from current market price, for example 20 pips
-
As price – as price level, for example 1.00270
SL/TP
If you want to set Stop Loss or Take Profit, you can do it in SL and TP input fields. Setting zero will disable Stop Loss or Take Profit. SL and TP can be set in 2 ways. You can choose one of them from the drop-down list:
-
In pips – as distance from orders’s open price, for example 30 pips
-
As price – as price level, for example 1.21344
Type
You can place 4 types of pending orders using buttons in Pending tab:
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Buy Stop – Buy trade with execution price above current market price
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Buy Limit – Buy trade with execution price below current market price
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Sell Stop – Sell trade with execution price below current market price
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Sell Limit – Sell trade with execution price above current market price
GUI
You can also open trades and place pending orders visually by dragging lines on the chart. All you need to do is to enable GUI in main window. SL, TP and Distance input fields will become greyed out.
If you now use any of trading buttons in Market or Pending tab, the simulator will display horizontal lines on the chart. You can drag them to desired location and open a new trade or place a new pending order by choosing Accept.
If Stop Loss or Take Profit is not needed, you can disable it using check-boxes.
Risk-based Position Sizing
It is possible to adjust the size of new trades and pending orders dynamically based on the amount you want to risk in each trade. There are 2 options of setting the risk:
- Risk % – risk a percentage of your account’s balance
- Risk $ – risk an amount of money (in account’s currency)
The simulator will calculate the size of new trade so as not to lose more than selected amount when Stop Loss gets hit.
Stop Loss is important
Risk-based position sizing works only when Stop Loss is set (when it is not zero).
Edit Orders
You can edit a trade or a pending order by choosing Mod. in Trades window. This lets you change Stop Loss and Take Profit of selected trade or pending order. For pending order it is also possible to change its execution price.
Add/Remove SL or TP
You can also add or remove Stop Loss or Take Profit using + and X buttons in Trades window.
Choosing + will open a small window where you can choose one of 3 ways of setting a new Stop Loss or Take Profit:
- Pips from entry – by entering a distance from entry price
- Price – by entering a price, for example 1.45554
- Visual – by dragging a line on the chart
Closing Trades
Closing from Main Window
- Close All – closes all open trades
- Close Last – closes only the last open trade
Closing from Trades Window
- Close All – closes all open trades
- Close Winners – closes only profitable trades
- Close Losers – closes only unprofitable trades
- X button – closes selected trade from the list
- Close Part – closes only a part of selected trade, for example 50% or 0.20 lots
Closing Pending Orders
Closing from Main Window
- Close All – deletes all pending orders
- Close Last – deletes only the last pending order
Deleting from Trades Window
- Delete All – deletes all pending orders
- X button – deletes selected order from the list
Break-Even
Some traders like to move their initial Stop Loss to entry price (break-even price) once current price has moved in their favor.
You can set Stop Loss at break-even price immediately using buttons in B/E column.
You can also let the simulator do it automatically by using buttons in Auto B/E column. Auto B/E function has 2 parameters:
- When order is X pips in profit – activation level for break-even function
- Move SL to Y pips of profit – secure Y pips of profit (setting zero means placing SL at break-even price)
Trailing Stop
Trailing Stop function will move Stop Loss to follow current market price. When price moves in your favor, SL will be moved towards it to secure more and more profit. When price moves against you, SL will stay in place.
Trailing Stop has 2 parameters:
- Trail stop at X pips – distance from current market price that should be kept by Stop Loss
- when order is Y pips in profit – Trailing Stop will be active only when trade is at least Y pips in profit
One-Close-Other (OCO)
When you mark two or more pending orders as OCO (one-close-other), execution of any one of them will automatically delete others.
OCO can be applied only to pending orders.
You need to mark at least 2 orders. Otherwise, it won't have any effect.
S/L Settings
S/L Settings tab in main window lets speed up taking trades. If you use certain settings for many consecutive trades, you can preset them once and avoid entering them for every newly opened trade. You can choose to preset Notes, Trailing Stop and Auto Break/Even.
Everything you set up in this tab will be applied automatically to every new trade and pending order.
Templates
Creating templates
- 1. Click Templates button in main window to open Order Templates window.
- 2. Go to Create New Template tab.
- 3. Choose a name for the new template and set up all parameters you would like to use.
- 4. Click Save. Your new template will be added to the list in Apply Template tab.
Applying templates
- 1. Go to Apply Template tab.
- 2. Select a template from the list.
- 3. Click Apply. Settings from selected template will be applied to presets tab and other input fields in main window.
