Placing an Entry Stop/Entry Limit order

Entry Stop/Entry Limit Orders are aimed at opening a position when a certain price is reached. These orders will be executed if the market value of an instrument reaches a predefined level. Entry Limit orders aim at opening positions in the future, when the market price has moved DOWN for a Buy order/UP for a Sell order. Entry Stop orders aim at opening positions in the future, when the market price has moved UP for a Buy order/DOWN for a Sell order.

1.	Select an account in the Account Information window. Hold down the CTRL key to choose multiple accounts.

Note: If no account is selected, the topmost account in the Account Information window will be automatically selected.

2.	Right-click on the Sell/Bid or Buy/Ask rate of the desired instrument and then choose Entry Stop or Entry Limit from the pop-up menu. The dialog box will appear:

3.	Enter the amount in lots.

Note: The default pre-set amount is equal to the account DA setting.

4.	Enter the rate in the “Rate” field.

Note: The allowed price range is shown to the right of the “Rate” field.

Note: You can also adjust the "Distance in pips" box to set up your order. (Distance in pips = The difference in pips between the proposed entry order rate and the current market rate.)

5.	If you are creating this entry order as part of an OCO pair, select the "Create as OCO for order" box. You will then be able to select an existing entry order from a pull-down menu.

6.	To preset a stop/limit order on this entry order, check the "Set Predefined Stop/Limit" box. More about predefined stops/limits...

7.	Press OK. A new order marked ES or EL will be created and shown in the Orders window.

Note: This order will be executed when the market price matches the order price.

Since the market continues to fluctuate while you are placing an entry order, certain fields in the Entry Order creation dialog will update in real time:

•	If you set a specific entry rate and the market rate changes before the order is finalized, then ‘Distance in pips’ will update accordingly, while the selected entry rate will remain fixed.

•	If you modify the ‘Distance in pips’ field and the market rate changes before the order is finalized, then the entry rate will update accordingly, while the ‘Distance in pips’ will remain fixed.

•	If you do not modify any field and the market rate changes before the order is finalized, then the entry rate will update accordingly.