New Order Window

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The New Order window offers a number of options, allowing you to place different types of orders. 

The New Order window can be opened by clicking the New Order icon on the Main toolbar from the Trading menu New Order, or by double-clicking the traded instrument in the Dealing Rates window.

Let's start with a Market order from the New Order window.

Placing a Market Order

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.

 

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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:

Conditional Orders - Opens the Conditional Orders’ window. If you have no Conditional orders in that instrument, it will open the New conditional order tab. And if you have Conditional orders, the window will show the last Conditional orders scheme (Conditional orders tree) for the instrument;
Add Chart - Opens this traded instrument's Chart window;
Price Activity - Shows the last ticks of the selected instrument. The number of ticks can be set from the Application ribbon menu: Tools > Settings > Save Last N Quotes. The list can contain a maximum of 2000 ticks;
Position History/Last Orders - Opens the Position History window; by default, at the Last Orders tab, which contains the last 1000 orders in that instrument;

 

 

 

To place a Market order, first you need to choose the instrument. 

1. Go to the Instruments control group and select the instrument:

 

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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:

 

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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

 

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            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.

 

 

 Information Fields:

There are several fields in this dialog, which show detailed information about the trade you are about to place. Always check them before submitting your order.

Fee:

When you are trading CFDs on shares and ETFs, a commission is applied, which is calculated automatically, and is based on the trade quantity and value. It can be seen in the title bar of the New Order window. Commissions are calculated in the currency of the account.

Double-clicking on a field will show you what is your profit/loss for the position per every tick, calculated in the currency of the account:

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Price:

 

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Required Margin:

This item shows the margin required for the specified amount in the currency of the account. It is automatically recalculated when you change the trade quantity.

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Double-clicking on a field will show you what will be the Free Margin for Buy/Sell, considering the quantity of the order and the position of the traded instrument (if any):

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Trade Value

This is the value of the trade in the denomination currency for the selected instrument, calculated in the currency of the account:

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Double-clicking on a field will show the trade quantity, average price and P/L of the position:

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Sentiments:

By clicking on the indicator, you open a pop-up displaing all four types of sentiments:

 All Traders - shows the percentage of buyers vs the percentage of sellers among all traders who currently hold a position in that instrument.
 Top Traders - shows the percentage of buyers vs the percentage of sellers among our top traders i.e. traders who have realised a profit in that instrument.
 All Positions - shows the percentage of short positions volume vs the the percentage of long positions volume, currently held by all traders.
 Top Traders Positions - shows the percent of the short positions volume vs the the percent of the long positions volume, currently held by our top traders - i.e. traders who have realised profit in that instrument

By marking the relevant radio button, you can select which indicator will be visible in the New Order/Quotes panel/Price window

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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.

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At the bottom of the New Order window the ID, the amount, and the status are displayed at the time the order is sent.

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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.

 

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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.

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