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Main Areas of the WebTrader
These are the main areas of the Web Trader Platform:
- Market Watch – This area lists all the available trading instruments with all their rates
- Favorites – The Favorites window is where your customized and preferred instruments are displayed. Your Favorites are shown as Spot panes for quick trading
- Charts – Where your selected charts will be displayed and functional from
- Trades – This window displays all your current open positions and pending orders
- News – This window shows you Live Market News
- Mail – Shows MT4 internal Mail
- History – Gives you every closed trade you have placed and the ability to browse different date ranges
- Journal – Shows all the event records
The Main Tabs
The Main tabs are situated at the very top of the Web Trader screen.
Market Watch
The Market Watch window displays, all tradable instruments. From within the Market Watch you have the ability to select any tradable instrument.
The Market Watch Window displays the following criteria on each tradable instrument:
- Symbols Bid and ask
- Rates Last
- Update Time
Double-clicking on any tradable symbol will open up a new order like this:
My Favorites
The Favorites area displays your preferred trading instruments. To open the My Favorites window you must click on the favorites Logo found at the top of the platform.
Add Favorites
To add favorites to your Favorites window within the Web Trader Platform you must select the options icon next to the symbol you wish to add and click on ‘Add to my Watch list’.
When deciding to remove any of your favorites, simply click on the ‘X’ next to the favorite you wish to close.
Spot Panes
The Spot Panes provide you with a direct link to your selected trades which you wish to have quick access to. On a Spot Pane you are given the Buy or Sell option with the current rates. The spot pane also states the spread. From the pane you can choose your volume then, by clicking the Buy or Sell buttons, place your order. You will receive a notification saying your order was approved, this indicates your order was successfully placed.
Charts
This is where your selected charts will be displayed and functional from, your charts area is easily visible and is located in the top section of your screen.
Adding a Chart
To add a chart you must select the ‘Chart’ option which can be found within the options menu on the left hand side of each of the Symbols.
Using Charts
There are several features of the chart which you must be aware of. On each chart the instruments symbol is stated on the top of the window. In the example below it is GBPUSD.
A drop down menu in the top left corner of the chart area, allows the choices for time periods you can select; they range from M1 = 1 minute, to MN1 = 1 Month.
You can select from 3 different types of candlestick, bars or a line chart:
Chart Options
- Settings
- Time Frame
- Refresh
- Zoom in
- Zoom out
- Full screen
- Save
- Print
- Cursor
- Move
- Erase
- Drawing Color
- Drawing options
Within the Settings menu you will have access to all your General settings options, such as Chart type and Colors.
Indicators
Also within this menu you will find a list of Indicators, as shown below:
In order to add an Indicator to your chart, simply check the box of your desired Indicator. When removing your Indicator, simply uncheck the box.
In order to change the settings for your Indicator, click on the arrow on the left hand side of the listed Indicator.
Using your mouse, if you hover over any area of a chart it will tell you certain information regarding that trade for that specific time period.
The scroll bar along the bottom of your chart allows scrolling horizontally (left and right), moving the chart back and forwards in time.
Trades
The Trades tab shows the full order details of your open positions and pending orders, as well as allowing you to modify orders. It also indicates your balance, equity, margin, free margin, and margin level.
Opening a New Order
Opening a trade is pretty simple and can be done by various methods…
- Double-clicking any instrument in the Market Watch window
- Using the Spot Panes within the Favorites Section
Clicking or double clicking depending on where you are opening a new order will bring you to a screen like below. When placing an order must select the Symbol, set the Volume, you can optionally set a Stop Loss or Take Profit for the order, and then you must decide whether you want to create an Instant Execution or a Pending Order.
Instant Execution
Being an Instant Execution you must then choose whether to ‘Buy’ or ‘Sell’ by clicking the corresponding button, you also you have the option of using and specifying a Maximum Deviation on instant executed orders.
Once clicking on Buy or Sell, you will know if your order was successfully placed when a message appears stating the price, order number, symbol, and the time it was approved at. You can then click on Close Window and carry on trading.
Pending Orders
Being a Pending Order you do not have the ability to Buy or Sell or use the maximum deviation. Instead you must…
Then you must specify the ‘Price’ you wish the pending order to be executed at. You can also optionally set an ‘Expiration ‘, which is the date for the pending order to delete if it doesn’t reach its Price. When finished select the ‘Set Order’ button.
If the order is successfully placed, you will receive a message like so where it will state the price, order number, symbol, and the time it was approved at. You can then click on Close Window and carry on trading.
Modify/Close an Order
From within the Trades section you can modify/close any orders. In the case of updating an open order simply double-click on your chosen order and a window as shown below will appear.
The aspects you can choose to update are the Stop loss and Take Profit, their Levels, and it also allows you to copy the precise rate of that trade and current moment in time directly from the platform. Once making your desired changes you must then click ‘Update’. When successfully updated you should receive a confirmation screen.
To close an order all you must to do is click the Close at “current rate” button at the bottom-left corner of the window. If successfully closed, you will see a confirmation screen like this. You can then close this window and carry on trading.
Partially Close Order
The partial close option allows you to close part of your trade, leaving the remaining Volume open. In order to partially close your trade, the Volume must be changed within the Volume box. Once making your desired changes you must then click Partial close at “price” button. When successfully updated you should receive a confirmation screen.
Please note that during a partial close, you are not able to modify your Stop loss or take profit levels. You may however change these once you have completed the close, using the modify/close order option.
News
The News window shows you Live Market News.
The mail tab of the platform shows all MT4 internal Mail.
History
Your trade history gives you a comprehensive run down of all your closed orders, removed pending orders and deposits/withdrawals. You can access it by pressing ‘History’ which is located next to the ‘Trade’ tab.
Inside your trade history you can run a report on any period of time. All you must to do is enter the Start date and End date and then press ‘Get’.
Your results of your designated date range will appear. You can sort the results by any column with a single-click on the header of the column.
Underneath all your orders at the very bottom of the report you will notice the Profit, Deposit and Withdrawal for your specified period.
Journal
The Journal Window provides all event records from your platform, such as log in’s, trades placed and trades closed.
