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Order Types
Key Features |
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The FX Trading Station gives traders the ability to make 5 different types of orders: |
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| Net Stop Order |
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| FXCM LLC (US Entity) customers can use Net Stop Orders to help manage their risk, and to prevent one trade from wiping out an account. This order automatically closes every position you have in any one currency pair at the best available price once a certain price is reached. A Net Stop can only be set at a price less favorable than the current price. |
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| Example: You buy several positions of EUR/USD, totaling 100,000 units, with an average entry price of 1.47927. You want the positions to close automatically if the EUR/USD moves 100 pips against you. So, you set a Net Stop Order at 1.46927. This stop will apply to ALL open positions in the EUR/USD in your account. |
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| To Set a Net Stop Order: You can enter a Net Stop Order by selecting a currency pair in the "Summary" window, and clicking on the "Stop" button. |
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| Once a Net Stop has been set, you will see the Stop price in the Stop column in the "Summary" window. |
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| If the Close Sell price touches 1.46927, all of your open positions will be automatically closed, with the loss subtracted from your balance. |
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| Net Limit Order |
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| A Net Limit Order works much like a Net Stop order, but you set it to automatically close your trade when the more favorable price you selected is reached. Set a Net Limit Order as you would set a Net Stop Order; the Net Limit appears in the Limit column in the "Summary" window. |
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| Once the market reaches 1.49927, all positions will automatically close, and the profits will be added to your balance. |
