This is the ITFX Trader-MT4 program window. The windows are anchored to each other by default but you can manipulate them in a variety of ways. Most windows are easily positioned anywhere on the screen.
The Market Watch window, also referred to as the Quotes Window, is a floating palette. You can drag it anywhere on the screen (even over other windows). You can toggle through the Market Watch window item by using the menu items View > Market Watch or by pressing the Ctrl + M key combination. The Market Watch button on the toolbar also shows or hides the Market Watch window.
The Market Watch shows current prices of the traded currency pairs and also allows you to make quick transactions on any currency pair. To initiate a trade, double click the selected vehicle and the Order Form will open up. You can also access the Order Form by right-clicking your chosen currency pair and then choosing New Order.
The charts are the heart of the Invest Tech fx . To open a new chart you can:
- Right-click the Market Watch window, then choose the Chart Window option
- Using the Ctrl + W key combination
- Using the menu options File > New Chart
- Or clicking on the New Chart button on the toolbar.
Each chart is highly customizable. Charts can be manipulated to appear in many different ways. Choose from three chart styles; Candlestick, Bar Chart or Line . Easily apply one of our standard indicators or download one from our library. Choose your own custom Chart Theme.
The Navigator provides quick and convenient access to various program resources. The Navigator can be activated using the menu items View > Navigator or by pressing the Ctrl + N key combination. This Navigator button on the toolbar can also be used to switch the Navigator on and off.
The Navigator is organized visually in folders. These folders include:
- Account : The accounts folder will list all your accounts (both demo and live). To add a new account simply right-click the folder and choose Open a New Account. It is important to be aware of which account you are currently trading.
- Indicators : this will list the indicators that come standard with the Invest Tech fx MT4 Trader platform. If you double-click an indicator you will add it to the current chart.
- Expert Advisors : Your available CapFX/advice systems. Double-clicking an advisor will activate it for the current chart.
- Custom Indicators : Very similar to the Indicators folder, however this folder will hold all of your custom indicators as well as the library of indicators that we supply on our forum.
- Scripts : Scripts are programs destined for single execution of a given action. Unlike Expert Advisors, Scripts aren't fun tickwise and have no access to indicator functions.
The Trade Terminal allows you to make trades and control your open positions in real-time. You can activate it through the menu opens View > Terminal or by pressing the Ctrl + T key combination. You can also use the Trade Terminal button on your toolbar.
The Trade Terminal can be positioned anywhere on the screen. To move it, click the title bar and hold the left mouse button down to drag the window to where you want it.
Active currency positions are listed in the Trade tab window. Positions are managed through a context menu. To view the context menu's options right-click on any position.
Active Positions Context Menu
- New Order : will open order form window
- Close Order : will open the close order form window
- Modify or Delete Order : use this option to edit your stop-loss and take-profit orders
- Trailing Stop : you can select a predefined trailing stop or set up a custom one.
- Profit : Choose to show your profit as points, as term currency or as deposit currency
- Commissions : This toggles the Commissions fields on and off in your trade terminal
- Taxes : This toggles the Taxes field on and off in your trade terminal
- Comments : This toggles your Comments field on and off in your trade terminal
- Auto Arrange : When off, this allows you to rearrange your trade columns however you like (width, placement, etc.)
- Grid : show and hide the grid to separate the columns.
A position can be opened in several ways:
- From the menu options Tools > New Order
- By pressing the F9 key on your keyboard
- By double-clicking a currency pair in your Market Watch window.
- By right-clicking the Trade Terminal window and choosing New Order
The Order Form window appears and you can open a position or place an order.
The order window will ask you to select a security symbol (Symbol), specify the number of lots (Volume), set up an optional Stop Loss (Stop Loss), set up an optional Take Profit (Take Profit), and select your order type (Instant Execution or Pending Order).
You can then either click the Sell or Buy button to execute your order.
- Set a stop loss first
A common mistake among traders is to rely upon a trailing stop as if it were a stop loss. It is important to remember that a trailing stop is not triggered until a trade is positive the amount of pips the trailing stop was set for (+ 1). In other words, a trailing stop set for 15 pips does not become your stop loss until the market has gone at least 16 pips in your favor.
If the market were to immediately trend against your position you would have no protection in the form of a stop loss.
- How does a trailing stop work?
Trailing stops are designed to lock in profit levels. Trailing stops literally trail along your increasing profit and adjust your stop loss levels accordingly. A trailing stop set for 15 pips will trigger once a trader's position is positive at least 16 pips. From this level the trailing stop will adjust pip for pip as your profit level continues to increase. A trader whose trailing stop is set to 15 pips and who is positive 20 pips has protected at least 5 pips of profit. As this trader's position increases so will their protected profit level.
- Does my computer need to be on for the trailing stop to work?
Once a trailing stop is triggered a new stop loss is sent from your computer to Invest Tech fx MT4 servers. However, for your trailing stop to continue to send updated stop losses to our servers, your computer does need to be up and running. Essentially, if your trailing stop has been triggered you do have a stop loss safely in place. However, if your computer is shut down your stop loss will not continue to trail.