New Order Window
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The New Order window offers a number of options, allowing you to place different types of orders.
Let's start with a Market order from the New Order window.
The default execution mode in Delta Trading 6 is Click and Deal.
When you open the New Order window, by default, you are in the Market order tab.
Note: If you are in logical mode the title of the tabs (Market/Limit/Stop/OCO) are purple color;
Anywhere on the window, a right-click opens the navigation menu which allows you more options:
To place a Market order, first you need to choose the instrument.
1. Go to the Instruments control group and select the instrument:
Here you have access to all instruments added to your watchlists.
2. The next step is to enter in the quantity you wish to trade:
Here you should enter the number of lots you wish to trade. Deltastock's default lot size for currencies is 1,000 units.
Since currencies are traded in pairs, when you buy a given amount of the first currency in the currency pair (base currency), at the same time you sell the respective amount of the second currency in the currency pair (quoted currency). The Trade Value is calculated in currency of the account.
Example: When you buy 10 lots EUR/USD, you are buying 10,000 EUR, and respectively you are selling 12,959.90 USD at the exchange rate of EUR/USD = 1.29599.
When you are trading CFDs on shares or ETFs, a commission is applied, which is calculated automatically, and is based on the trade quantity. It can be seen below the Fee in the New Order window.
3. Specify the trading operation
Trading Operation Field
Use the two buttons in the Trade control group to specify the trading operation. As soon as you click on any of those two buttons, your order will be sent for execution.
Buy - Requests a Buy market order at the traded instrument's current Ask price.
Sell - Requests a Sell market order at the traded instrument's current Bid price.
Between the Ask and Bid prices you can track the current spread of the traded instrument.
4. Submit the Order
Click on the Sell or Buy buttons to place the order. A trade confirmation will appear, asking you to confirm your order. You may disable it by ticking the "Don't show this message again." check-box. The order will be executed in Click and deal mode. This is the default execution mode in Delta Trading 6.
At the bottom of the New Order window the ID, the amount, and the status are displayed at the time the order is sent.
When the order gets EXECUTED, the window will turn green and a confirmation will appear at the bottom, displaying the order ID, execution price and amount.
The order has been successfully EXECUTED.
If you deactivate/uncheck Click and Deal mode (Tools - Settings window - check-box Click and Deal), it is possible that you get a re-quote on the price when submitting the order. In this case you can choose to cancel the order or execute it at the new price. The time for this decision is 6 seconds, through the New Order Requote window. If you don't select Cancel or Execute within 6 seconds, the order will be cancelled.
Some instruments have a maximum allowable amount of their position. Example, there are from Cryptocurrencies. The alert window for this case is: