Opening of a position, or entering the market, is the first buying or selling of a certain amount of the security traded. Position can be opened either by execution of a market order or by automatic triggering of a pending order.
To open a position using a market order, one has to execute the "Tools New Order" menu command, press the button of the "Standard" toolbar, press F9, or double-click on the symbol name in the "Market Watch" window. One can also execute the "New Order" context menu command of the windows of "Market Watch" and "Terminal Trade". At that, the "Order" window will open that is used for managing trade positions.
When opening a position, one has to:
Attention: Zero values of Stop Loss/Take Profit orders mean that the orders have not been placed at all.
After all necessary data have been specified, one has to press the "Sell" or "Buy" button. At that, the order for opening of a short or long position, respectively, will be sent to the broker.
Once the order is sent the window will display the result of its execution a successful trade operation or a reason why it has not been executed. If the "One click trading" option is enabled and the order has been successfully executed the trading window is closed right away without displaying the execution result.
Attention: If orders for a given symbol are executed at request, it is necessary to press the "Request" button to receive quotes first. Quotes offered after requesting will be active for just a few seconds. If no decision is made within these seconds, "Sell" and "Buy" buttons will be locked again.
If the Stop Loss or Take Profit level is too close to the current price at opening of a position, the message of "Invalid S/L or T/P" will appear. It is necessary to shift levels from the current price and re-request for placing of the order. A trade position will be opened after the brokerage company has made a trade and set Stop Loss and Take Profit. At that, the status bar of the opened position will appear in the "Terminal Trade" tab, and open price, Stop Loss and Take Profit levels will be shown in the chart (if the "Show trade levels" option is enabled).
To open a position with a pending order, one has to place it first as described in the "Placing of Pending Order" section. If the current prices meet its provisions, the pending order will be executed automatically, i.e., a new trade position will be opened. At that, the status bar of the pending order will be deleted in the "Terminal Trade" tab, and the newly opened position status bar will appear. If Stop Loss and Take Profit orders were attached to the pending order, they will be attached to the new position automatically.