VT Trader User Guide

Open A Position

Opening a position can be done in one of two ways, both simple.

First we’ll explain the Dealing Rates method, and then we will walk you through your first trade directly off the chart.

Dealing Rates Window Trades

Simply left-click on the ASK price of a currency pair to go long or on the BID price to go short. Once you click on either a Bid or Ask price, a confitmation window will appear, where you fill in the size of the trade and other options. Right clicking on the Bid or Ask prices will bring up a menu where you can place more advanced entry orders.

Now, let's see how to trade directly on the Chart window!

On the Chart

Step 1

Right-click anywhere on the chart; a new window will pop up with several different options.

Opening A Position from the Chart

Step 2

Clicking Buy will initiate a buy order (long position) at the current market rate and clicking Sell will initiate a sell order (short position). Let’s click Buy.

Step 3

An Open Position window will pop up. Here you will be prompted to enter the number of lots you would like to trade (Amount per Account), as well as the Trader’s Range. Make sure your account is check marked on the left-hand side of the account number.

Trader’s Range: Allows you to specify the number of pip deviations from the market price that you are willing to accept in case the requested price is not currently available. If left at zero and the price requested is not available, the trader will get a re-quote and would have to confirm whether he or she wants to execute the order with the new price.

Opening A Position from the Chart 2

Step 4

With CMS Forex, you can open either a standard 100,000 currency unit lot ($250 margin under default 400:1 leverage) by entering a whole number, or a 10,000 currency unit mini-lot ($25 margin under default 400:1 leverage) by entering a decimal number, or a combination of the two. For now, let’s open a mini-lot by entering (0.1) in the Amount per Account field.

Click OK for the confirmation pop-up to appear.

Step 5

After entering your trade information and clicking OK, you are presented with a confirmation window which displays your trade size, trade direction and current rate. If anything looks wrong with your trade you can click cancel here, otherwise accept the confirmation by clicking OK once again, which executes your order.

Opening A Position from the Chart 5

Opening A Position from the Chart

A green label will appear on the chart along with a horizontal line at the price your order was entered indicating that it’s pending. It will then quickly turn red to indicate that the order is now active.

You should see the new order in the Open Positions window, where it will display detailed information about the position.

Opening A Position from the Chart 6

You will also notice that on the Account Information window, the number (25.00) is displayed under the UsdMrg category. This is the amount of margin that your one open position is currently holding. This amount has been taken out of your UsblMgr (Usable Margin), which should be lower now due to the margin and spread.

Opening A Position from the Chart 7

One Click Orders

With VT Trader 1.8.5 released recently, VT Trader has the capability to turn off the open position window and confirmation window (Steps 2 - 5). Learn more about One Click Orders.