How to Buy and Sell the Currency Pairs

Now that our charts are set up, let’s learn HOW to open and close a position, or
buy and sell on the VT platform. After we learn HOW, we can look at WHEN to
enter/exit a trade using the technical indicators. **Please note that this
information is in the Visual Trading Manual that you should have already
read.

A. Simply move your cursor to the chart and right click. A menu will pop up
and at the top it will say buy with the current exchange rate to buy and
sell with the current exchange rate to sell. You should Buy if you think the
price line will go up on your chart or sell when you think the rate will drop
on the chart. Click on buy or sell and an ‘Open Positions’ window will pop
up that looks like this:

B. In the Amount per Acct: box you put in how many lots you will trade—1 lot

is 100,000 currency units.
Trading with 1 lot EUR/USD is $10 profit/loss per pip
Trading with 1 lot GBP/USD is $10 profit/loss per pip
Trading with 1 lot USD/JPY is $8 profit/loss per pip
Trading with 1 lot USD/CHF is $6 profit/loss per pip
Trading with 2 lots doubles the profit/loss possibility. Trading with .5 of a lot
halves the profit/loss possibility. With the CMS universal account you can
trade full or partial lots from this window. If you put in .1 of a lot your
profit/loss would be $1 in the EUR/USD etc…
C. The trade that you just made will now show up directly on the chart. If you
right click your open position on the chart you can choose to add a Stop
price and a Limit price, or you can hedge your position—which we will look
at later on.

Stop Order: Is a price you enter into an open position, where the trading
platform automatically closes your position when the Exchange rate touches
that level. If you are in a winning trade, you can move your stop up or down
to protect profits. If the exchange rate never hits that level, then the Order
doesn’t get filled.

**tip: If you are in a winning trade, you can move your stop to your entry
level, so that if your trade moves against you, the platform closes your
position without any losses.

**tip: You should be comfortable setting your stop Order at 15-20 pips. If
you can’t handle a 15-20 pip loss, then you are need to trade smaller
amounts. This will help you from over leveraging your trading account.

Limit Order: Is a price you enter into an open position for the trading
platform to automatically close your position at a profit. For example, you
might set your limit order at a 15 pip profit. If the exchange rate never hits
that level, then the Order doesn’t get filled.

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