IML Forex, also known as IM Mastery Academy, is a multi-level marketing company that offers a range of educational resources and tools for forex traders. One of the key features of their platform is the ability to trade in the foreign exchange market with the help of their proprietary software.
To close a trade in blue in IM Mastery Academy’s forex trading platform, you need to follow these steps:
Step 1: Open the Trade
Before you can close a trade, you need to have an open position in the market. To open a trade, you need to select the currency pair you want to trade and choose the direction you want to take (buy or sell). You can do this by selecting the “New Order” button on the platform’s trading screen.
Step 2: Monitor the Trade
Once you have an open position, you need to monitor the trade to determine when to close it. You can keep track of your trades through the platform’s trading screen, which displays real-time data on the currency pair you are trading.
Step 3: Decide When to Close
There are several factors to consider when deciding when to close a trade, including your trading strategy, risk tolerance, and market conditions. Some traders prefer to close their positions as soon as they make a profit, while others may hold onto their trades for longer periods of time.
Step 4: Close the Trade
To close a trade in blue, you need to select the “Close Order” button on the trading screen. This will bring up a confirmation window that will ask you to confirm that you want to close the trade.
Once you confirm, the platform will execute the trade and you will see the results of your trade in your account balance. If you made a profit, the funds will be added to your account balance. If you incurred a loss, the funds will be deducted from your account balance.
Closing a trade in blue is a simple process that can be done in just a few clicks. However, it is important to remember that forex trading is a complex and risky activity that requires careful planning and analysis. Before you start trading, it is recommended that you educate yourself on trading strategies, risk management, and market analysis techniques to increase your chances of success.
