Once the Order window has been opened, traders can enter information into fields and select from drop-down lists to prepare the trade order.
You must specify the following:
- Symbol from the drop-down list at the top (this will automatically be set to the symbol on the active chart). A corresponding tick chart appears in the left pane that displays current prices.
- Volume in terms of lot size. 1.0 is equal to 1 lot, or 100,000 units. You can also select to trade in smaller volumes, such as 0.1 or 0.01.
- Stop Loss and Take Profit set a limit that you would like your trade to be closed at.
- Comment if desired. Traders can enter text in the Comment field that will be assigned to the order.
- Type either Market Execution (a market order) or Pending Order (a limit order; discussed more in the Pending Orders section) where the trader can specify the desired entry price.
After these fields have been specified:
- Click "Sell by Market" or "Buy by Market", depending on the desired trade direction, to place the trade.
- Click "Okay" to close the window.