Orders Take-profit and Stop-loss. Mode “Trailing Stop distance”.
The user can add or modify position orders such as Take-profit and Stop-loss orders. These orders are linked to a market order (open position) and pending order. These orders can only exist while the base order exists.
Take-profit orders are set by a price higher than the BUY price of transaction and lower than the SELL price of the transaction.
Setting or modification of these position orders can be made within the dialog box of modification for pending order. This can be accessed in the “Edit” command from the “Orders” window.
To set or modify position orders with opened positions there is a dialog in the the “Position orders dialog” window. This dialog can be opened through the context menu from the “Open position” window.
This dialog allows the user to:
- set orders (one or both);
- change the prices of set orders;
- cancel set orders (one or both);
- set or cancel a mode “Trailing Stop distance” (T/S).
In this dialog window the user can see the following invariable fields:
- the currency pair name;
- the deal # – the server identification number of the deal over opened position;
- volume 1 – the volume in first currency;
- volume 2 – the volume in second currency;
- the open rate – the price when the position was opened;
- the current rate – the current price of the currency pair;
- open time – the time of the position opening.
There are additional fields for data entry. The user should mark the “Stop-loss” field and enter (or change) the price of this order. A similar path should be taken for “Take-profit” orders. The user should mark the “Trailing Stop distance” field and enter (or change) the distance.
Following data entry, press the “Ok” button and wait for the acknowledgement from the server. The dialog window will be closed after the acknowledgement from the server is received. The user can abort the transaction by pressing the “Cancel” button.
These orders can not be set too close to the price of market order (BID and ASK, accordingly). The minimum allowable range is determined by the server and is usually equal to the spread.
When the price of one currency pair reaches the level entered in the Take-profit or Stop-loss order, then the appropriate order will be executed and the position that was opened over the market order before, will be closed.
In the “Orders” window over each of the orders a note will appear (in “Type” column note “Stop loss” or “Take profit”).
The mode "Trailing-Stop Mode" (T/S) provides a fixed distance of order Stop-loss from the market quotations currency pair.
If the mode T/S specified and has already raised active, the movement in quotations upward price earnings Stop-loss orders shifted so that the distance remained constant, and when moving quotations in the price came down Stop-loss order is not changed. When this mode is set, it is not yet active. T/S becomes active only when the position profit becomes greater than or equal to the distance T/S - in this case, automatically created order Stop-loss and the price of the order further moves in accordance with the rules of T/S.
The mode T/S may be set in conjunction with conventional placed Stop-loss order - in this case, as soon as the T/S becomes active, previously set order Stop-loss automatically moves on the distance T/S from quotations.
The mode T/S can be set in several ways, through the parameter "Trailing Stop distance":
- in the dialogue of Make deal;
- in the dialogue of set or edit Waiting order.
The mode T/S (state and distance) is displayed in a special column "T/S distance" of tables:
- Open position;
- Orders;
- Orders history.
It should be noted that all the actions of the movement Stop-loss orders in the mode of T/S does not appear in the Orders history, except the first set order at the time of activation of T/S.
The mode T/S is implemented on the server, that is, operations associated with it will be executed when the client trade terminal is unactive. | 
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