A market order is a normal order that is executed at the best price that is available when you click to buy or sell. As with many other functions in cTrader, there are multiple ways of opening, closing and modifying your market orders.
Click on the Positions tab to bring up a complete list of all orders and order options.
Info window: Click this icon to open the position info window.
Advanced protection: Click to set advanced stop loss settings, including trailing stops and automatic move-to-break-even.
Modify position: Click to make changes to your position. You can partially close volume and change stop loss and take profit settings.
Close position: Click on a rate to close the position on that line, or click Close All to close all open positions.
Search and filter: Use the search box and dropdown menu to filter the positions list.
Order tab columns
|ID||Unique order ID.|
|Created||Date and time position was created.|
|Last Modified||Date and time position was last modified.|
|Direction||Direction of order (Buy or Sell).|
|Entry Price||VWAP of all deals that have filled this position.|
|Swap||Swaps to be charged or earned once the position is closed or reversed.|
|Channel||Platform that was used to open the order. If the order was opened through phone-trading to your broker, this will show 'Phone Trading'.|
|Pips||Profit or loss in pips.|
|Gross EUR||Current profit or loss not including commissions and swaps.|
|Net EUR||Gross profit or loss including commissions and swaps|
|Label||This is an optional filed used by some trading robots in cAlgo. While cAlgo robots cannot be traded in cTrader, trades opened by a cAlgo robot will appear in your positiosn list in cTrader.|
When set to “Aggregated” all the Positions of the same Symbol and same direction (buy or sell) will be consolidated.
The displayed win/loss ratio of each consolidated group will include all the positions. You can whether close them all at once by clicking on “X” button next to the group or open the group and close each position separately.
By default, all the positions are sorted by the date of creation, to change this, simply click on the title of the column by which you would like them to be sorted.
Positions: A position is the top level of any trade. A position represents the entirety of a trade, summarising the net effect of all orders and deals.
Orders: Execution requests created for each position.
Deals: The results of your order requests. These can be filled deals, rejected deals, or deals that encountered an error.
When you click to Buy or Sell for a certain volume, a market order is created.
When any attempt to fill the order receives a response from the LP or broker, this is listed as a deal.
A position is a summary of the net effect of all executed deals.
A position can be made up of multiple orders (for example if you add volume to a position or close position volume, multiple orders are created) and an order can be made up of multiple deals (for example if the order is partially filled in stages).
There are two ways to create positions.
QuickTrade is the fastest way to enter a market order. You can buy or sell with just one or two clicks depending on your settings.
indicates that QuickTrade is disabled.
indicates that QuickTrade is in double-click mode
indicates that QuickTrade is in single click mode.
With QuickTrade disabled, the QuickTrade buttons will open the Create Order window where you can set your trading parameters. See the Create Order section below.
If you prefer not to use QuickTrade, Market Orders can be created by using the Create Order window. You can open the create order window by using the many create order buttons around the platform.
Note: Stop Loss cannot be set inside the spread. In case a Stop Loss is set inside the spread, the Stop Loss will not be considered.
You can modify your stop loss and take profit for any open position.
Open positions will be closed automatically when Stop Losses and Take Profits are hit.
You can also manually close your open positions at any time.
With QuickTrade, you can close an entire position using one or two clicks. You cannot partially close a position using QuickTrade.
Select One click or Double-click mode from the QuickTrade button at the top right of the platform.
If you prefer not to use QuickTrade, or you want to only partially close a position, you can use the Modify Order screen to close your positions.
Open the Modify Positions window by:
You can also choose to close groups of trades based on any combination of Symbol, Trade Direction, and Profitability.
In the example below, only Sell positions for EURUSD that are Losing will be closed.
QuickTrade Execution Settings let you define default Stop Loss, Take Profit and Market Range settings that are applied every time you open a market order using QuickTrade.
To adjust QuickTrade Execution Settings, use the icon at the top right of the platform.
Click advanced protection to apply advanced take profit and stop loss settings.
Trailing Stop Loss
The Trailing Stop is a Stop Loss that automatically updates every time the position moves in your favor. You can choose to enable Trailing Stop in the Order Window for both new Orders and existing Orders and Positions.
The Trailing Stop Loss is triggered as soon as your position is opened. As soon as the price moves a Pip in your favor, the Stop Loss will follow and reposition itself accordingly. This way, the Trailing Stop Loss will remain a fixed distance from the most preferable price. Trailing Stops never move away from the market price, only towards. Therefore, when the price starts moving against you the trailing stop will remain fixed until it is met and the position is closed.
If the market price falls close to the trailing stop loss and changes direction, moving again in favor of the trader then the trailing will resume once the set distance has been met, then the Stop Loss will continue following the market price by the number of Pips set.
Position: Buy EURUSD at 1.15000
Stop Loss: 10 pips i.e. 1.14900.
If the EUR/USD rate moves to 1.15300, the stop loss will move to 1.15200 (10 Pips behind the market price).
If the rate starts moving in the opposite direction and meets the stop loss, the position will close with a profit of 20 pips.
Click on the advanced protection icon to bring out the Advanced Protection window.
Advanced Take Profit You can add multiple Take Profit levels to your positions using Advanced Take Profit. You can select from one up to four Take Profit levels. To set it up select the amount of pips won that your Position will be closed at and the volume of your Position to be closed at each Take Profit Level.
The Remaining Volume information box shows how much Volume will remain for the Position after all the Take Profit Levels have been reached.
Please note that the Advanced Take Profit Levels close the Position with a Market Order and require cTrader to be running and connected to the server in order to be operational. You can still set a Server side Take Profit together with the Advanced Take Profit levels that does not require cTrader to be running. If you set a Server Side Take Profit the level is shown in the Server Take Profit information box.
Trade: Buy EURUSD at 1.35000 100k
Advanced Take Profit Settings:
Take Profit 1, 10 Pips 10k
Take Profit 2, 20 Pips 20k
Take Profit 3, 30 Pips 30k
These settings after applied will close 10k of the Position at 1.35100, 20k of the Position at 1.35200 and 30k of the Position at 1.35300 and leave the remaining 40k of the Position to be closed at a later time
Trade: Buy EURUSD at 1.35000 100k
Advanced Take Profit Settings:
Take Profit 1, 10 Pips 40k
Take Profit 2, 20 Pips 20k
Take Profit 3, 30 Pips 30k
Take Profit 4, 35 Pips 10k
These settings after applied will close 40k of the Position at 1.35100, 20k of the Position at 1.35200 and 30k of the Position at 1.35300, and 10k of the Position at 1.35350 closing all the volume of the Position.
The reverse button will reverse the direction of your position while maintaining your current volume.
For example, a position of Buy EURUSD 200k will become Sell USD 200k.
Note: When you reverse your position, your swaps will immediately be charged / collected, and new swaps will be applied for future carry-overs.
Note: When a position is reversed, you will need to reapply your stop loss and take profit.
Note: You will need to recross the opening spread whenever you reverse a position.
Double Position |
The Double Position button will simply double the volume for your position.
For example, a position of Sell EURUSD 200k will become Sell EURUSD 400k.
Note: Commissions will also be doubled.
Click to open a new window with detailed information on the position.
Details of information available in the Position Window
|Position ID||Unique position ID.|
|Status||Current status of the position.|
|Leverage||The leverage used to trade the position. Note: The maximum leverage allowed for the symbol may be lower than your account leverage. You can view maximum leverage settings for each symbol by clicking its [info_icon] icon.|
|Current Volume||Current position volume being traded. This may be different than your original volume request because you may be partially filled or you may have partially closed a position.|
|Current Direction||Current position direction (Buy or Sell).|
|Created Time||Exact time and date your position was created.|
|Last Modified||Exact time and date the position was last modified.|
|Entry Price||VWAP of all deals that were used to fill this order.|
|Current SL||The current Stop Loss rate for the position.|
|Current TP||The current Take Profit rate for the position.|
|Distance (pips)||Distance in pips of your Stop Loss or Take Profit from the current spot rate.|
|Unrealized Swaps||Swaps that will be charged or paid to you when the position is closed or reversed.|
|Unr. Commissions||Commissions that will be charged once the position is closed or reversed.|
|Net. Unr. P&L||Current profit or loss of the position, with swaps and commissions calculated.|
|Gross Unr. P&L||Current profit or loss of the position, calculated without swaps and commissions deducted / added.|
|Realized Swaps||Total swaps paid or earned for this position so far.|
|Real. Commissions||Total commissions paid on this position so far.|
|Net Real. Currency||Profit or loss secured so far (by reversing or partially closing a position), including calculations for swaps and commissions.|
|Gross Real. Currency||Profit or loss secured so far (by reversing or partially closing a position), not including calculations for swaps and commissions.|
|Label||This is a field used by some trading algorithms to identify trades or groups of trades. While trading robots cannot be run in cTrader, if you are using robots in cAlgo with the same account, any executed positions will appear in cTrader.|
At the bottom of the info window, you'll the find the position timeline, which shows you all events relating to the position in order of when they occured. You can see which orders were sent by the position, which deals were executed for the position, new status of the position as each order and deal is processed, charged swaps and commissions, and details for all stop and loss take profits that are hit or modified.
You can also click on events to open more details in a new window.
A Market Range setting can be applied when opening a market order.
The Market Range will allow you to set a maximum deviation from the requested price (the price you click on) at which your order can be filled.
For example, if I send a buy order at 1.3000, with a market range of 5 pips, I can't be filled at any price higher than 1.3005. If the quoted price is higher than 1.3005, the order will be cancelled.
If the full order volume is not filled withing the Range specified, the un-filled part will be cancelled.
To apply a Market Range order:
Use the QuickTrade Execution Settings at the top right of the platform (this will apply the same Market Range every time you use QuickTrade to enter a market order), or check the Market Range box when opening an order through the New Order Window.