Trading Forex​ on SaxoTraderGO​ - Video Script

FINDING AN INSTRUMENT

1. Let’s start by creating a new watchlist. To do this, navigate to the 'Watchlist' button located in the left hand panel of the SaxoTraderGO platform. Click on the dropdown list below the Watchlists button and click on New list.

2. Click on ADD INSTRUMENT and type the name of the currency pair you're looking for in the search field. For example, type “EURUSD”. Click on the instrument with the “green FX” icon and then click done.

3. Click on the green FX button next to EURUSD and click TRADE

PLACING A MARKET ORDER

​​ 4. The Trade Ticket window opens, which can easily be moved around your screen. With the trade ticket you can either trade at market prices or place an order at a specified price by changing the TYPE of the Order. You can also add a Take Profit and a Stop Loss order. The Price Tolerance sets the price movement you are ready to accept either as pips or % movement from the displayed price. You will be filled at the market price plus or minus your tolerance, or cancelled otherwise.  Price tolerance of 0 means you are only willing to accept the displayed price or your order should be cancelled. Clicking the Edit Price Tolerance, switching off price tolerance and clicking on APPLY, it means you will be filled at the price obtainable in the market.​

5. Enter the amount you would like to trade. For example 50,000 EURUSD.​

6. Next, Click enable in the trade window to trade EURUSD by clicking on the Buy button in order to buy EUR and sell USD or the Sell button in order to sell EUR and buy USD.

7. A Trade Confirmation appears in the upper right hand side of your screen if the order is executed. Click on OK​ to close the confirmation.​

TRACKING AN OPEN POSITION​​​

8. You can view the new position in the "Positions" section on the bottom of your screen. You can close your open positions or place related limit and stop loss orders directly from here.

9. To place a related Limit order or Stop order click on the ADD button and select your Stop and Limit prices.

10. You have 3 options to define your orders. You can either specify the amount of PIPS, the Percentage or the Price Level. Click on the respective column, in our example price level.Once you have completed the set-up, click on the PLACE ORDER button.

11. A window containing all relevant order information will appear. Review the displayed order information and click on “CONFIRM” to place the order.

12. In the upper right hand corner of your screen, a notification window will appear with confirmation that your order has been placed. Click on OK to close the notification window.

13. To view your open orders click on “Orders” in the bottom section of your screen. This section offers you the ability to EDIT or CANCEL the related orders you've placed . You can immediately close an Open Position by clicking on the Position section, and clicking on the price in the Close button. In case you are holding multiple positions in an instrument you should click on the “+ plus sign next to your position and then click on the CLOSE Price button in the respective row. A Close Position ticket will appear. Click to Enable the Button and confirm your trade with a second click.

14. To view the Chart module, click on “Charts” next to the overview in the upper right hand section of your screen. The EURUSD chart will appear. Icons on the chart will show your open positions as well as related orders for this particular instrument. You can hide or show these icons if you click on the “Settings” icon on the right side of the chart module and tick the boxes “Show orders” and “Show positions”.

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