Thursday, May 27, 2010

how to trade on forex using www.btrader.com


HOW TO TRADE





How to Trade
The Trading Window provides you with live market prices updated as it changes. You can trade and place orders on your favorite currency pairs without fear of a mis-quote.

With the One-Click-Trading feature, you can open and close trades directly from this Trade window .





HOW TO TRADE  Trade Window Views
Trade Window Views
Trading is done in the Market Trading Panel which contains two display options.  

The Box View is built for simplicity (see top picture).

The List View provides you extra data regarding your trade and the current market conditions (see bottom picture).

                HOW TO TRADE  One Click Trading
One Click Trading
Use the One Click Trading method for instant trades, allowing you to open and close positions with one click. 
It is a great way to get in and out of positions quickly allowing for a fast and exciting trading experience.   

HOW TO TRADE  Select Currencies
Select Currencies
Select the currency pair you would like to trade. 

Above, the EUR/USD    Above, the USD/JPY

price is listed:                 price is listed:

Sell at: 1.43768              Sell at: 94.996

Buy at: 1.43788              Buy at: 95.016




HOW TO TRADE  Select Amount
Select Amount
Enter the amount you wish to trade in the field near the Currency Quotes. Then click on the Buy or Sell button. It’s very simple. The details of your trade will appear in your Open Positions display. 


HOW TO TRADE  Adding Currencies
Adding Currencies
Click on the “CCY” icon and add any of the available currency pairs into your Selected View. Select the currency from the left hand side of the Currency Window and use the right arrow to move it to your Selected Pairs window.

After it is in your Selected Pairs, you can change the position of any pair by toggling the up and down buttons.


HOW TO TRADE  Close Trade
Close Trade
Closing a trade is simple.  Simply view your Open Positions window on your trading platform, check the deal that you want to Close and press the Close Position button.  A confirmation Close window will open, allowing you to close your position easily by pressing the OK button .

You may also quickly close any open positions while using the One Click Trading method. This method will close a position immediately without a confirmation window.


HOW TO TRADE  Modify Open Trades
Modify Open Trades
Double click on the trade you want to modify from the Open Positions table. Add a stop loss, trailing stop or take profit price to your positions in a matter of seconds.  Read more in theRisk Management section below.


Risk Management
Risk Management
Btrader allows you to control risk in multiple ways. Learn more below.


Risk Management  Stop Loss
Stop Loss
Stop Loss is a protective measure to close your trade when the market moves against your position. You can set the Stop Loss at the price at which the trade should automatically close.

For example, if a trader bought EURUSD at 1.41020 and only wanted to risk 145 pips, a stop position would be set at 145 pips below the Open Rate price at 1.39570. 

(Example: 1.41020 - 0.0145 = 1.39570) 

You can also choose the set your Stop Loss price with a currency value, limiting your loss to a specific amount . 

There is also an option for setting the Stop Loss by PIP level, limiting your loss to a set PIP amount. This is the default setting for this option.


Risk Management  Trailing Stop
Trailing Stop
Trailing Stop is attached to the stop-loss feature. It allows you to automatically adjust the level of your stop loss so that the stop is always a pre-specified distance from the last best market price.



                                                                                                                                                                                                                                                                               
 Risk Management  Limit/Take Profit
Limit / Take Profit
Take Profit is an order to close a trade when the market moves in your favor for the purpose of securing gains.

For example, if a trade bought EURUSD at 1.41020 and wanted to secure his profit up to 120 pips, a take profit would be set at 120 pips above the current market price at 1.42220

(Example: 1.41020 + 0.0120 = 1.42220)

You can also choose the set your Limit price with a currency value, ensuring your gains reach a specific amount . 

There is also an option for setting the Limit by PIP level, ensuring a set PIP amount. This is the default setting for this option.



Orders
Orders
The Btrader Platform offers a number of Trade Orders to help you.  A Trade Order allows you to specify a trade to take place in the future. If the market price hits the price you specified in your order, your trade will open automatically.


rders  New Orders
New Order
You can place an order from the Orders Window.   

Click on Create Order to open the Dialogue Box in which you can specify the conditions of your Order.


Orders  Select Currency Pair
Select Currency Pair
Simply select the currency pair associated with the Order you wish to place

Orders  Select Type of Order
Select Type of Order
Entry Order - select this to trade when the market hits a price you specify .

Market Trade – select this to buy /sell the currency at the current market price

Orders  Select Amount
Select Amount
Select the Trade size you like by choosing from the drop down menu or by typing the amount you like.




Orders  Entry Order Types
Entry Order Entry
Entry Order – An Entry order allows you to open a position when the currency hits or breaches a future price that you specify. To place an Entry Order ,simply follow the steps below:

1. Click on the Entry Order option.

2. Enter the Amount you wish to trade.

3. Enter the Rate you wish to trade.

4. Click OK.


Orders  Market Trade
Market Trade
Market Trade – a market trade allows you to buy/sell the currency at the current market price.

Market Trades can be accomplished from the Orders Window.

You can also open it from the Market Trading when the One Click Trading feature is not enabled.


Orders  Select Type of Order
Select Type of Order
Entry Order - select this to trade when the market hits a price you specify .

Market Trade – select this to buy /sell the currency at the current market price



Orders  Select Amount
Select Amount
Select the Trade size you like by choosing from the drop down menu or by typing the amount you like.

Orders  Entry Order Types
Entry Order Entry
Entry Order – An Entry order allows you to open a position when the currency hits or breaches a future price that you specify. To place an Entry Order ,simply follow the steps below:

1. Click on the Entry Order option.

2. Enter the Amount you wish to trade.

3. Enter the Rate you wish to trade.

4. Click OK.


Orders  Market Trade
Market Trade
Market Trade – a market trade allows you to buy/sell the currency at the current market price.

Market Trades can be accomplished from the Orders Window.

You can also open it from the Market Trading when the One Click Trading feature is not enabled.

Charts & Analysis
Charts & Analysis
The Btrader Platform supplies you with very valuable information right at the touch of your fingertips.  Choose from a  wide selection of charts to view and calculate past, present and future currency movements. Updates regarding global and economic announcements are published 24 hours a day.


Charts & Analysis  Chart for Currency
Chart for Currency
Simply click on a flag icon near the chosen currency pair in the Trade Window above to have its corresponding chart displayed.

Charts & Analysis  Selecting Type of Chart



Charts & Analysis  Updating News
Updating News
Global events and economic announcements are known to move the markets.  Stay on top of this important news from major media sources: updating you throughout the day with regularly scheduled and up to the second, “hot-off-the-press” news items.

Account Summary
Account Summary
The Account Summary Window provides you with quick overview of your overall current account status

Account Info
Account Info
The Report Window provides you with both an in-depth overview of your daily account activity and the overall status of your trading summary.  Create financial and trading reports in seconds.


Account Info  Activity Log
Activity Log
The Activity Log is a track record of every action preformed in your trading account.  This provides you with additional security and detailed step by step activity taken on your Btrader platform account. 



Account Info  Account Statement
Account Statement
The Account Statement window grants a valuable record of your current account's balance and positions, as well as a detailed account statement of your activity for a specific period of time. 

Each transaction has a corresponding transaction identification number, description, profit/loss and the resulting account balance.


Account Info  Cash Transactions
Cash Transactions
The Cash Transactions window shows you a history of your current account's Transactions , as well as a precise detail of your activity for a specific period of time.

Each transaction has a corresponding transaction identification number, description, Reference and Size.


Account Info  Trades
Trades
The Trades window shows you a detailed record of your trading activity. From all your buys and sells including your profits and losses.

The Trades window is the best tool to see your trading history.


Account Info  Rollovers
Rollovers
The Rollover Window shows all of your Rollover activity in your account.

Account Info  Reports
Reports
The Account Reports tab allows you to create reports detailing your account's activity.  You can use the drop-down menu to select the report type you want to use. 

The Accounts Report Tab allows you to select the parameters such as the date, type of transaction and category of the trade and more. Depending upon the report you choose, you can narrow down the result by selecting a variety of parameters.

Customize your report in seconds and even download it to Microsoft Excel or PDF format.

Simple Trade
Simple Trade Window
Simple Trade – Using Simple Trade allows you to open a Trade with ease and security when the currency hits a price that you want. To Simple-Trade follow the steps below:

1. Set the trading mode to One-Click  (for how to click here)

2. Choose the currency you wish to trade.

3. Enter the Trade size you wish to trade.

3. Enter the Risk you wish to take.

4. Enter the Win you wish to take. 

5. Click UP or Down.

Selecting Type of Chart
Many charts are available - each with its own features and additions. Choose from the highly popular candlestick chart, to the traditional line or bar graph and much more.

http://www.btrader.com/guide.php?p=11933&c=11926&parent=HOW%20TO%20TRADE&child=Modify%20Open%20Trades

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