The following applies to most of the visual trading arenas. Some arenas have a different
trade set up process which will be described in detail in the guide to that specific
arena.
Most of our arenas have an operating area that looks something like this:
The operating area is where you set the parameters to open new trades. For example,
if you were to click "Open Trade" on the example above you would be buying EUR/USD
at the rate of 1.4749, for the amount of $50, with the leverage of x200.
In other words, it would mean that you bought 50 US Dollars worth of Euros, one
Euro costing 1.4749 US Dollars. The leverage means that while investing only $50,
you are actually trading for 200 times that amount, meaning $10,000. Choosing to
trade for 200 times the amount of you investment involves a high risk/reward level,
meaning that while standing to gain more from currency fluctuations, you also stand
to lose your initial investment more quickly. At this stage, it's important to emphasize
that while you profit is unlimited, your loss is limited to your initial investment
in the trade, in this case meaning $50.
By clicking on the "Advanced (Trade Limits)" box you can also specify instructions
to close the trade once it reaches a certain loss or profit. This way, you don't
have to constantly monitor your trades since you're assured that you won't lose
more than a certain amount and that if the trade reaches your desired level of profit,
it will be capitalized upon.
Once you've set all your trade parameters, click on "Open Trade" to execute the
trade. You will then get the following window, confirming all your trade parameters:
You must then click OK to open the trade or Cancel to reset your parameters.
Now that we know how to set up a basic trade, let's take a closer look at each Visual
trading arena.
