Opening a Position

Opening a position or entering the market is the initial buying or selling a certain volume of the symbol to be traded. Opening a position is performed both at execution of a market order, and at automated execution of a pending order.

Market Order

To open a position using a market order, it is necessary to execute the “New Order” command of the context menu of the window/tab “Orders” or of the window/tab “Symbols”, or the “New Order” toolbar command. The “Order” window will open to manage trade positions.

Metatrader Mobile open orders Opening Position

In this window, it is necessary:

  • in the “Symbol” field, select a symbol, on which the position will be opened;

  • in the “Lots” field, specify the volume (the amount of lots) of the trade;

  • in the “S/L” field, set the Stop Loss order level (optionally);

  • in the “T/P” field, set the Take Profit order level (optionally);

    Attention: Zero values of orders Stop Loss and Take Profit mean that orders have not been set at all.

  • in the “Comment” field, write a comment (optionally). The comment length may not exceed 25 characters. Your broker can add their own ifnormation to it up to 6 characters long, or just replace yours. After the position has been opened, the comment cannot be changed;

  • in the “Maximum deviation” field, enable/disable deviation and specify the value of the maximum price deviation in points. If broker give a new execution price (requotes), the deviation of this new price from the initially requested one is calculated. If this deviation is less or equal to the preset parameter, the order will be executed at the new price without any additional notification. Otherwise, the broker will return other prices, at which the order can be executed;

  • Attnetion: Price deviation parameter is used in only Instant Execution mode.

After all necessary data have been specified, it is necessary to press “Sell” or “Buy”. The order to open a short or a long position, respectively, will be sent to the broker.

Attention: If for the selected symbol orders are executed by request, it is necessary to press “Request” to start getting quotes. Quotes that income after the request will be active for only a few seconds. If no decision is made within this time, buttons “Sell” and “Buy” will be blocked again.

If levels of Stop Loss and/or Take Profit were too close to the current price during opening of a position, the message “Invalid S/L or T/P” will appear. It is necessary to move the levels from the current price and re-request to place the order. A trade position will be opened after the brokerage company has made a trade operation and placed Stop Loss and Take Profit. The status line of the opened position will appear in the window/tab “Orders”.

Pending Orders

To open a position using a pending order, it is necessary to place it as described in the “Placing a Pending Order” section. If the current prices cimply with the condition, the pending order will be executed automatically, i.e., a new position will be opened. In the window/tab “Orders”, the pending order status bar will be deleted and the status bar of the newly opened position will appear. If Stop Loss and/or Take Profit were attached to the pending order, they will be attached to the newly opened position automatically.

Opening Position