Forex Trader Pro is an advanced trading platform that provides traders with a wide range of tools and features to trade the Forex market. One of the key features of Forex Trader Pro is the ability to place orders. In this article, we will provide a step-by-step guide on how to make an order using Forex Trader Pro.
Step 1: Log in to Forex Trader Pro
The first step in making an order using Forex Trader Pro is to log in to your account. Once you have logged in, you will be presented with the main trading screen.
Step 2: Choose the currency pair you want to trade
The next step is to choose the currency pair you want to trade. Forex Trader Pro provides traders with a wide range of currency pairs, including major, minor, and exotic pairs. To choose a currency pair, simply click on the “Quotes” tab on the left-hand side of the screen and select the currency pair you want to trade.
Step 3: Select the order type
Once you have chosen the currency pair you want to trade, the next step is to select the order type. Forex Trader Pro provides traders with several order types, including market orders, limit orders, stop orders, and trailing stop orders.
Market orders: A market order is an order to buy or sell a currency pair at the current market price.
Limit orders: A limit order is an order to buy or sell a currency pair at a specified price. The order will only be executed if the market reaches the specified price.
Stop orders: A stop order is an order to buy or sell a currency pair when the market reaches a specified price. The order will be executed at the next available price after the market reaches the specified price.
Trailing stop orders: A trailing stop order is an order to buy or sell a currency pair when the market reaches a specified price. The order will be executed at the next available price after the market reaches the specified price, but the stop-loss level will move in the direction of the trade if the market moves in favor of the trade.
Step 4: Enter the order details
Once you have selected the order type, the next step is to enter the order details. The order details will vary depending on the order type you have selected.
Market orders: For a market order, you will need to enter the amount you want to trade. You can do this by either entering the amount in the “Amount” field or by using the “Quick Trade” feature.
Limit orders: For a limit order, you will need to enter the price at which you want to buy or sell the currency pair. You can do this by entering the price in the “Price” field.
Stop orders: For a stop order, you will need to enter the stop price at which you want to buy or sell the currency pair. You can do this by entering the price in the “Stop” field.
Trailing stop orders: For a trailing stop order, you will need to enter the stop price at which you want to buy or sell the currency pair, as well as the trailing stop distance. You can do this by entering the price in the “Stop” field and the distance in the “Trailing Stop Distance” field.
Step 5: Review and submit the order
Once you have entered the order details, the final step is to review and submit the order. Before submitting the order, make sure to double-check the order details to ensure that everything is correct. Once you are satisfied with the order, click on the “Submit” button to submit the order.
In conclusion, making an order using Forex Trader Pro is a straightforward process that involves selecting the currency pair you want to trade, choosing the order type, entering the order details, and reviewing and submitting the order. By following these simple steps, traders can easily place orders on the Forex market using Forex Trader Pro.
