Looking for a reliable broker for forex trading and a great platform for Forex Trading? Check out this review of IVG Capital, the go-to choice for legitimate retail traders. Learn why IVG Capital is trusted by traders for forex and crypto trading, and discover the benefits of using Match-Trader. Whether you’re a beginner or an experienced trader, IVG Capital offers a range of tools and resources to help you succeed in the trading world. Don’t miss out on this opportunity to elevate your trading experience with IVG Capital!
At the heart of IVG Capital’s offering is the Match-Trader platform, a powerful tool that sets traders on a path to success. This blog explores the placing of market orders, pending orders, and basic risk management. info@ivgcapital.com
www.ivgcapital.com
The Match-Trader Platform
You may log in to the Match-Trader Platform through the IVG Capital website or use the URL www.platform.ivgcapital.com.
Existing trades or Open Positions are in view here and you may see all the details of the trade including the Symbol, the Open Time when the position was entered, the Volume (position size), the Side (direction of the trade: Buy or Sell), the Open Price, the Current Price, the Stop Loss, the Take Profit, Swaps, Commission, and the Profit or Loss on the trade.
Open a Market Order
Select the Symbol you wish to trade through the Watchlists or by Searching. If you require more space for your analysis, click the Expand button. Use Indicators and Graphic tools to analyse your chosen pair. (We will have more videos on Graphics, Indicators, and Technical Analysis.)
Click on New Order to set up your position and select Market. A
Market Order is one where you place a trade and enter the market instantly, at the current price. Choose a price level to place a Stop Loss. A Stop Loss protects your account in case price action does not go in the direction you wish. If your chosen price is higher than the current price, the platform will automatically assume you want to open a Sell trade (sometimes called Going Short.)
Once you have set your Stop Loss you should then adjust your Volume (position size) to correspond to the maximum risk percentage you might lose.
Now, set your Take Profit level. This is the price where the position will automatically close, providing you with a profit on your account. We will have other videos on Risk:Reward Ratios but let’s start with a Take Profit that is much further away from the current price than where we find the Stop Loss. Click the Sell button and the trade will be placed instantly.
To get a better view, let’s move out to a longer time frame and we can see the Entry price, Stop Loss, and Take Profit.
Create a Pending Order (Stop Order)
A Pending Order is one where we set up a possible entry in the future, triggered by price action reaching a desired level. Here we see a ranging market with defined levels of resistance and support, with the current price between the two levels.
Let’s say that we want to open a short position, a Sell trade, but only if price action reaches this level of resistance. So, we expect price action to fall and, if it continues to fall beyond this level of support, it will continue to the downside. Select Pending Order and enter the Price at which you want to enter the trade.
The platform will automatically select the type of pending order. If the price you entered is lower than the current price, you will be offered a Sell Stop, where you expect price action to continue lower, or a Buy Limit, where you expect price action to bounce off support and return to the upside.
Set your Stop Loss and the platform will activate the button for your desired trade. Again, adjust the Volume to correspond with your
desired risk for this trade. You may move the Stop Loss by dragging the level on the chart but keep in mind that you will be altering your percentage risk on the trade.
Again, set your Take Profit to be larger than your risk. With a Pending Order, you may move any line before the position is open.
Create a Pending Order (Limit Order)
Let’s now set up a Limit Order. Here we have found a line of resistance where we hope price action will reach and return to the downside.
Select New Order and Pending Order just as before and set the entry price at the line of resistance. As we want price action to reach the level, then open a Sell Order, we call this a Sell Limit Order. So, set the Stop Loss at a point above the Entry Point and Match-Trader will automatically know that the order is a Sell Limit.
You may move the Stop Loss on the chart by dragging. Now, adjust your Volume to correspond with the risk level you want on the trade. And, of course, the Take Profit. You may adjust any level on the chart by dragging but be aware of your risk management.
Modify Your Pending Orders
Below the chart, select Pending Orders and you will see the complete list. You may modify your Entry Price, Stop Loss and Take Profit here. You may also delete any Pending Order by clicking on the “X”.
That’s all for now. Come back soon for more videos and reviews on IVG Capital and Match-Trader.