This type of order usually aims at future opening positions when the market price reaches the level lower than the current market price. * Both Entry Stop / Entry Limit Orders are executed only when the market value of an Instrument (Currency) reaches the predefined financial level.
There are two possible ways to execute the trade:
Navigate using your 4-way navigation keys towards an Instrument (Currency) you would like to trade from the list available in the Dealing Rates screen. Access Options and select Place Order function
In the Rates screen navigate towards an Instrument (Currency) you would like to trade and simply press your phone middle selection key.
You will be automatically rerouted to the Order Type screen
DEALING RATES SCREEN
OPTIONS MENU
Once the Instrument is selected, you will be prompted to choose an Order Type and Trading Action combination from the Order Type screen:
- Market Order Buy
- Market Order Sell
- Entry Stop Order Buy
- Entry Stop Order Sell
- Entry Limit Order Buy
- Entry Limit Order Sell
Scroll to the field reflecting the preferred Order Type / Trading action combination
(in this case Entry Stop Order Sell)
Using the phone left selection key press Select function to confirm this action
ORDER TYPE SCREEN
Once confirmed you will be redirected to the Entry Stop Order screen
There are several displayed fields: Buy / Sell: specifies Instrument’s trading actions Account: list of accounts with which this order should be associated Base: account base currency Price: current price Lot: traders enter the number of lots / mini lots Your Rate: your new price must be lower than or equal to the current price
Using the 4-way navigation keys scroll to the Account field and enter by pressing the middle selection key
Navigate towards the trading account with which this order should be associated and check mark it by pressing the phone middle selection key
Using the 4-way navigation keys scroll down to the Lot field and set the number of lots / minilots.
Scroll to the very bottom field and enter the numbers you think fit best. In this case your Entry Stop price must be lower than or equal to 1.5338
Once required fields are filled in press OK function located in the left bottom corner of the screen
ENTRY STOP ORDER SCREEN
When confirmed the program will take you back to the Dealing Rates screen.
You may view this trade in the Orders screen of VT Mobile Trading System
