MT4i 1- Click Trade terminal user guide
Contents
1. 100 then you can Ctrl click on the S L field and tell the calculator to work out the number of pips which is equivalent to a fixed cash risk of 100 2 2 Placing Pending orders You can place pending orders limits and stops by clicking on the button and choosing New order You can choose the order type and entry price stop loss take profit etc The entry price for pending orders can be defined either as a fixed price e g 1 23456 or as a number of pips For example if you choose a buy limit and enter a value of 20 pips rather than a price then the limit order is created 20 pips below the current price 2 2 1 OCO orders The new order form also lets you place one cancels other OCO orders There are two types of OCO order gt OCO breakout You specify two prices or two values in pips either side of the current price and the Trade Terminal places a buy stop and a sell stop Once one of the pending orders is filled the other is automatically cancelled You would typically use this when you are expecting a major price movement but you don t know whether the move is going to be up or down For example there are many trading strategies based around trading the break out in either direction of yesterday s range gt OCO reversion In this case the Trade Terminal places a buy limit and sell limit rather than a buy stop and sell stop You would typically use this if you are expecting a move in either d2. 4 1 Thresholds for automated closes At the top of each stage of an automated close you choose the threshold when this rule is applied You select the criterion such as the order s profit in pips or duration and the value for the threshold For example to carry out an action once an order has been open for an hour you choose order duration greater or equal to and enter the value 60 4 4 2 Actions for automated closes In each stage of an automated close you can carry out a number of actions such as closing part or all of the order or setting a stop loss or trailing stop or sending an alert by email You simply tick the box next to each action which you want to carry out and fill in the correspond ing setting such as the percentage of the order to close Please note that the percentage of an order to close is specified in relation to its original size not the current size following any previous partial closes For example if you have two stages and each of them is configured to close 50 of the order then the order will be com pletely closed when the second stage is reached In other words this does not close 50 of the order and then close 50 of the remainder leaving 25 of the original order open 4 4 3 Saving automated closes as templates Once you have defined an automated close you can save it as a template by clicking on the Save template button Asaved template can then be applied to an order in
3. future by choos ing Automated close from the Tools menu and selecting the template from the sub menu You can organise your list of saved automated close templates removing any which you no longer need by choosing Manage templates from the sub menu lronFX MT4 Advanced Trade Terminal x iron PX www lronFX com SOLID TRADING 4 5 OCA One Cancels All groups The Trade Terminal lets you create a one cancels all group of pending orders a group where all the remaining orders are automatically deleted when one of the orders is filled An OCO order is simply an OCA group where there are only two orders in the group Please note OCA groups are processed by the Trade Terminal software not by your broker They will cease operating if you close the Trade Terminal or MT4 You create an OCA group by choosing Create OCA group from the OCA menu This option is only available if you have at least two pending orders You simply choose a name for the group so that you can recognise it in future and tick the pending orders which you want to include in the group A single order can belong to multiple OCA groups and orders in a group can be for different symbols You can delete an OCA group by choosing Delete OCA group from the OCA menu Please note that this does not delete the pending orders it only stops the Trade Terminal from running the OCA rule on those orders 4 6 Order Summaries You can view su
4. 00 then the repeat period prevents the alarm being triggered over and over again every few seconds if free margin keeps bouncing between 999 and 1001 3 3 Email You can get an email notification when an alarm is triggered as well as having the standard alert pop up on screen In order to receive email you need to turn on MT4 s email settings which you can configure using the main Tools Options Email menu in MT4 lronFX MT4 Advanced Trade Terminal o x iron PX www lronFX com SOLID TRADING 3 4 Closing charts and orders You can configure two extra actions to take place when an alarm is triggered gt Close all orders When the alarm is triggered this option attempts to close all the open positions and delete all pending orders It would be typically used in relation to an alarm on free margin where you want to close out your positions in order to prevent a margin call gt Close all charts This option closes all charts in MT4 apart from the Trade Terminal s own chart The main purpose of this is to prevent automated systems EAs on other charts from placing any further trades 4 Order list The order list shows all the open positions and pending orders on your account and provides facilities for managing those orders It replicates the information from MT4 s own order list and includes some extra details such as trade duration and profitability in pips N B If the icon next to an order changes to t
5. Order summaries 11 4 8 Settings and other features 11 4 8 1 Settings 11 4 8 2 Undocking the Trade Terminal from MT4 12 IronFX MT4 Advanced Trade Terminal x iron PX www lronFX com SOLID TRADING 1 Overview of the lronFX MT4 Advanced Trade Terminal 1 1 Opening the Trade Terminal You run the Trade Terminal by opening a chart for any symbol in MetaTrader 4 and then adding the Trade Terminal expert advisor EA to that chart either double click on the EA in the MT4 Navigator list or drag the EA onto the chart Please note you can only run one EA per chart in MT4 If an EA is already running on a chart then adding the Trade Terminal to that chart will replace the existing EA To run both the Trade Terminal and another EA simply open more than one chart 1 2 Components of the Trade Terminal The Trade Terminal consists of three parts gt Market watch gt Account summary gt Order list You can minimise i e contract the account summary and order list by clicking on the double arrows in their title bars This devotes the maximum amount of space to the market watch The Trade Terminal shows all activity on your account not just orders placed using the Trade Terminal itself For example if you are running an automated system or you place manual trades using MT4 s own built in features then this activity will be reflected in the Trade Terminal s account summary and order list 2 Market Watch The m
6. WORLD FINANCE WORLD FINANCE WORLD FINANCE r FOREIGN pala FOREIGN jz 202 FASTEST GROWING BEST TRADING FASTEST GROWING BEST FX BEST FX SERVICE S Oo L l D T R A 2 l D G FX PROVIDER 2012 PLATFORM FX BROKER NEWCOMER 2011 PROVIDER 2012 World Finance Awards World Finance Awards European CEO Awards World Finance Awards China Financial Awards ironFX MT4 Advanced TRADE TERMINAL x iron PX www lronFX com SOLID TRADING IronFX Financial Services Limited is authorised and regulated by CySEC Licence no 125 10 IronFX Australia Pty Ltd is authorized and regulated by ASIC 417482 TABLE OF CONTENTS 1 Overview of the lronFX MT4 Advanced Trade Terminal 3 1 1 Opening the Trade Terminal 3 1 2 Components of the Trade Terminal 3 2 Market watch 3 2 1 Placing buy sell orders 3 2 2 Placing pending orders 4 2 2 1 OCO orders 4 2 3 Order templates 4 2 4 Closing orders 5 2 5 Symbol information 5 2 6 Other features 5 3 Account summary 6 3 1 Alarm levels 6 3 2 Alarm repeats 6 3 3 Email 6 3 4 Closing charts and orders 7 4 Order list 7 4 1 Sorting the list and re ordering columns 7 4 2 Closing orders 8 4 3 Modifying orders 8 4 3 1 Selecting orders from the list 8 4 3 2 Partial closes s l t p and t s 9 4 4 Automated closes 9 4 4 1 Thresholds for automated closes 9 4 4 2 Actions for automated closes 10 4 4 3 Saving automated closes as templates 10 4 5 OCA One Cancels All groups 10 4 6
7. arket watch displays a trading widget or deal ticket for each symbol Each one of these behaves in a very similar way to the lronFX MT4 Advanced on chart Mini Terminal which is described in a separate manual The symbols in the Trade Terminal s market watch synchronise with MT4 s own market watch In other words to add or remove symbols from the Trade Terminal you add or remove them from the MT4 market watch The Trade Terminal will then synchronise its list within a few seconds Please note the speed and processor usage of the Trade Terminal depends on the number of symbols being displayed lronFX MT4 Advanced Trade Terminal x iron PX www lronFX com SOLID TRADING 2 1 Placing buy sell orders You can place a buy or sell order for each symbol in the market watch using the large green and red buttons The status indicator at the top of each widget shows your current net position for that symbol e g 0 10 if you are long 0 1 lots or 0 10 if you are short 0 1 lots You can quickly close all your open positions and pending orders for a symbol by clicking on status indicator You can control the lot size on new orders and set a stop loss take profit or trailing stop using the fields above the buy and sell buttons You can also open calculators for each of these fields by holding down the Ctrl key while clicking on them For example if you are trading 0 25 lots and you want a stop loss which is equivalent to
8. cash effect on the balance if the s l or t p is hit The current profit for the order shown in the top right of the window can be switched between cash and pips by clicking on it You can close the order using the red button and you can change the s l t p or trailing stop by clicking on those options 4 4 Automated closes Automated closes let you define rules for exiting an open position These can consist of mul tiple parts e g scaling out of a position when profit thresholds are met and can include visual and email alerts Automated closes can also be saved as templates for quick re use in future Please note automated closed are processed by the Trade Terminal software not by your broker They will cease operating if you close the Trade Terminal or MT4 You create an automated close or run an existing one by choosing Automated close from the Tools menu for an order or multiple orders and then choosing Create to define a new automated close rule or Edit if there is already an active automated close on the order lronFX MT4 Advanced Trade Terminal o x iron PX www lronFX com SOLID TRADING Each automated close can consist of any number of stages for example close 50 of the order and set a break even stop when it reaches 20 pips of profit and close the remainder of the order when it reaches 30 pips You simply click on the Add a rule link to add a stage to the automated close 4
9. hen it indicates that the Trade Terminal is carrying out some kind of automated action on the order a trailing stop or an automated close or that the order is part of an OCA group You can check which actions are being carried out by clicking on the icon and choosing Tasks in progress 4 1 Sorting the list and re ordering columns You can sort the order list by any of its columns simply click on a header such as Ticket to sort in ascending order and then click again to re sort in descending order You can also re arrange the columns in the list by dragging the headers press and hold the left mouse button over a header and then drag the mouse pointer to the new location where you want to put the column lronFX MT4 Advanced Trade Terminal x iron PX www lronFX com SOLID TRADING 4 2 Closing orders You can close an open position or delete a pending order by clicking on the button next to it The Close option on the toolbar above the order list contains options for closing multiple orders close everything close all losers etc As described above you can close all the orders for a particular symbol by using its widget in the market watch It is also possible to close all the orders for a symbol by opening a sum mary of your orders by symbol and then using the icon for the symbol and choosing the Close option 4 3 Modifying orders You can carry out a number of actions on orders part
10. ial close change s l set a trailing stop etc These options are available in a number of places and appear as a pop up menu gt By clicking on the icon next to an individual order gt By choosing All orders under Tools on the menu bar above the order list The pop up menu will then carry out an action such as a partial close on every order gt By selecting some of the orders in the list see below and then choosing Selected orders from the Tools menu gt By clicking on the icon in a summary window see below 4 3 1 Selecting orders from the list You can select some of the orders in the order list and then carry out actions only on those specific orders The order list follows the standard behaviour for a Windows application gt Clicking on an entry selects that row and de selects any existing entries gt Using Shiftt click selects all the entries between the current selection and the item now being clicked on For example if there are 5 entries in the order list and you want to select items 2 through 4 then you click on item 2 and Shifttclick on item 4 gt Using Ctrl click toggles an entry i e selects it if it is currently de selected or de selects it if currently selected Therefore you can select all the entries in the list except by one by clicking on the first entry Shift clicking on the last entry and then Ctrl clicking on the order you want to leave out Once you have selected some en
11. icking on the button and choosing New chart lronFX MT4 Advanced Trade Terminal x iron PX www lronFX com SOLID TRADING 3 Account Summary The account summary shows key information about your account balance equity floating P L free margin number of open positions etc You can set an alarm on any entry by clicking on the bell icon next to it For example you can ask for an alarm when your free margin falls below 1 000 or when the number of positions is zero i e when all positions have been closed Alarms are displayed as popup alerts in MT4 and can also be sent to you by email When an alarm has been created the colour of the bell icon changes to yellow If an alarm is then subsequently triggered the colour changes to red 3 1 Alarm Levels You set an alarm by specifying a threshold e g 1000 and choosing whether the alarm should go off when the value exceeds the threshold or falls below it or is exactly equal to it or not equal to it For example if there are currently 2 open positions and you want to be notified if this changes in any way then you would enter the value 2 for the alarm and choose the option not equal to 3 2 Alarm Repeats Alarms can either be turned off once they are triggered or they can be set to repeat A repeat period tells the terminal to ignore the alarm for a certain number of minutes For example if you have asked for an alarm when free margin falls below 10
12. irection followed by a return towards the current price e g a bounce off yesterday s high or low lronFX MT4 Advanced Trade Terminal x iron PX www lronFX com SOLID TRADING 2 3 Order Templates If there is a type of order which you place regularly e g a buy limit 20 pips below the current price with a 100 pip s l and t p then you can save this as a template for quick re use in future gt Click on the button and choose New order gt Enter the details of the order gt Click on the Save template button and choose a name You can then quickly execute that saved template in future in two different ways gt Click on the button and choose the saved template from the Templates sub menu Or gt Hold down the Ctrl key while clicking on the button gt Choose the saved template from the list 2 4 Closing Orders You can close all open and pending orders for a symbol in two ways gt By clicking on the position marker at the top of the symbol s widget the text which reads 0 10 0 50 etc gt By clicking on the button and choosing Close position 2 5 Symbol Information You can view information about the symbol by clicking on the button and choosing Symbol information This pops up a window showing the minimum price movement for the symbol the minimum and maximum trade sizes etc 2 6 Other Features You can quickly open a new chart for a symbol by cl
13. mbol or vice versa the software will create two open orders Please note that hedging is not permitted on US brokers a sell order will be rejected if you already have an open buy order However you can also choose to run the software in non hedging mode If you have an open buy order and you place a sell order then the sell closes the buy rather than creating a new order For example if you are long 0 3 lots and you sell 0 1 lots then you will be left with a buy order for 0 2 lots Alternatively if you are short 0 2 lots and you place a buy order for 0 3 lots then you will be left with a buy order for 0 1 lots 4 8 2 Undocking the Trade Terminal from MT4 You can undock the Trade Terminal from MT4 into its own free standing window by choos ing Undock terminal from the Settings menu If your computer has multiple monitors then you can obviously place the MT4 window on one monitor and the Trade Terminal window on another monitor You can continue trading and modifying orders etc while the Trade Terminal is undocked When you want to re dock the Terminal you simply click on the option on the Settings menu again lronFX MT4 Advanced Trade Terminal
14. mmaries of your open positions by symbol or direction or duration etc using the Summary menu on the toolbar above the order list This pops up a floating window containing aggregated information about the orders such as their combined profitability in cash and pips and their total volume The summary contains separate sets of columns for open positions and pending orders You can carry out actions on all the orders in a category by clicking on its icon This displays the tool menu described above lronFX MT4 Advanced Trade Terminal x iron PX www lronFX com SOLID TRADING 4 8 Settings and other features 4 8 1 Settings You can control the settings for the Trade Terminal and also all copies of the on chart Mini Terminal by choosing Confirmations and preferences from the Settings menu in the tool bar above the order list The options available may depend on your broker but you will typically see the following settings gt Confirm new orders Turns on or off confirmations when you place a quick order by click ing on the green and red buy and sell buttons in a trading widget gt Confirm close all Turns on or off confirmations when you close all the orders for a symbol by clicking on its status indicator gt Hedging mode By default the Trade Terminal is usually installed in hedging mode which is the standard behaviour for MT4 as a whole if you place a buy order and then place a sell order for the same sy
15. tries in the order list you can use the Selected orders option on the Tools menu This will be disabled greyed out if no orders are currently select ed lronFX MT4 Advanced Trade Terminal p08 x iron PX www lronFX com SOLID TRADING 4 3 2 Partial closes s l t p and t s You can do a partial close of an order or set modify its stop loss s l or its profit target t p or its trailing stop t s The values for stop losses and profit targets are specified in pips though the s l and t p can also be set to break even i e the order s entry price A partial close cannot always be processed exactly for example you cannot do an exact 50 partial close of an order for 0 03 lots because 0 015 lots is not a permitted size Partial closes always round down to the nearest lot size permitted by your broker For example if you ask to close 50 of an order for 0 03 lots then the software will close 0 01 lots leaving an order for 0 02 lots Please note trailing stops are processed by the Trade Terminal software not by your broker The trailing stop will cease operating if you close the Trade Terminal or MT4 4 3 3 Order details You can also open a pop up window for each order by clicking on its ticket number or by clicking on the icon and choosing Edit The pop up window shows how close the s l and t p are to being hit e g for long orders the distance from the current bid price to the s l and the
Download Pdf Manuals
Related Search