The Trade Box arena disposes with the creative visualizations of the other arenas
to present the most professional and flexible trading environment for more experienced
traders. While it may be a little overwhelming for a novice trader, it is the arena
of choice for the pros.
Here you can open multiple trades, view price movement charts, keep track of all
the currencies’ live rates, trade more currency pairs and manage stop loss and take
profit orders after the positions are opened.
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Click on the Trade Box
icon to enter the arena. |
Upon entering the arena you’ll be presented with the following screen:
The top half of the screen is your operating area. This is where you set the parameters
for new positions. The bottom half of the screen displays all your open trades with
all their relevant statistics.
To open a new trade you must first click on one of the currency pairs in the Dealing
Rates box. By clicking on the chart icon near each pair you can view the chart of
its rate movements across various time periods.
Once you’ve selected the pair you wish to trade you must specify whether you wish
to buy the pair or sell it (whether your position is short or long). The bid and
ask rates for the currency pair are displayed accordingly on the Buy and Sell buttons.
You will then be able to set the rest of the parameters for your trade. Use the
arrows to set you Risk Level (leverage), the amount you wish to trade, and your
Stop Loss and Take Profit orders. Note that unlike the other arenas, here you can
set the Stop Loss and Take Profit after opening the trade even if you forgot to
specify them while setting up the position.
Let’s have a look at what a set up trade might look like before opening it:
As you can see, once you set the Stop Loss and Take Profit, you can also see them
displayed in rates on the right side of the box.
Click on “Open Trade” to open the trade you’ve set up.
Let’s see what the Trade Box arena looks like once you’ve opened a few trades:
As you can see, all the data concerning your trades is displayed across the Open
Positions box. As we mentioned earlier, you can change your Stop Loss and Take Profit
orders while the position is open. To do so, click on the
button near each order to edit it according to amount or rate.
Note: If you set your Stop/Loss limit below your initial investment, the extra margin
will be subtracted from your balance to cover potential loss.
You can close each trade by clicking the "Close" button in the rightmost field.
Beneath the “Open Positions” window you can find the totals of all your open trades.
The virtual balance indicates the balance you would have if you were to close
all your open trades at that given moment. The usable margin is your balance
after subtracting costs of the spreads of your open trades.
Now that we’ve become familiar with the various trading arenas let’s take a few
moments to get to know eToro’s additional features
