💸Transactions and the logic of orders placement
How to realise order placements and use different order types
Last updated
How to realise order placements and use different order types
Last updated
For opening a transaction or place any type of order one uses the hotkeys.
Logic of orders for the Long position:
Stop-Loss is less then the opening price Long
Take-Profit is greater then the opening price Long
Logic of orders for the SHORT position:
Stop-Loss is greater then the opening price Short
Take-Profit is less then the opening price Short
A TP/SL order is placed additionally to an existing position. Therefore, if the position volume increases, then the volume of TP/SL orders also increases. If the current position is closed independently (without TP/SL) then applications are canceled.
Stop-order is triggered when the price reaches a certain level (above or below a specified point). One deals with a Stop-Market and Stop-Limit orders. The first ones are executed according to the market and the second ones as limit orders.
Stop-Market orders can be: -– buy-stop (order to buy) and sell-stop (order to sell).
Buy-Stop order is placed when it is assumed that the price located at a certain level will continue to rise. Buy-Stop is placed in the seller zone and a purchase occurs if the price arrives a given level.
Sell-Stop is placed when it is assumed that the price located at a certain level will continue to fall. Sell-stop is placed in the buyer zone and a sale occurs if the price drops to a specified level.
Stop-Limit orders can be: -– buy-limit (order to buy) and sell-limit (order to sell).
Buy-Limit order is placed when the price is expected to fall and then bounce off a support level and begin to rise. Buy-Limit is placed in the buyer zone, less then the current market price. A purchase occurs if the price drops to the specified level.
Sell-Limit is placed when the price is expected to rise and, having reached a certain level, begin to fall. Sell-Limit order is placed in the seller zone, greater then the current market price. A sale occurs if the price rises to a given level.
Buy-Stop, Sell-Stop, Buy-Limit and Sell-Limit – these are pending stop-orders that are not related to an open position.
