Smart Trading FAQs
- How do I place a Guaranteed Stop Loss Order?
- How do I place a trailing stop loss order?
- How do I place an OCO order?
- How do I hedge my position?
- How can I adjust price tolerance (slippage)?
- Where can I find full market information details?
How do I place a Guaranteed Stop Loss Order?
To place a Guaranteed Stop Loss Order (GSLO), start by opening a deal ticket or select the "set" option in the stop section of positions. Once you have an open deal ticket:
- Click on the ‘Stop loss’ dropdown
- Select ‘Guaranteed stop loss order’
- Add multiple stops at different levels by clicking on the ‘Advanced ticket’ option
Please be advised that you can only place/amend GSLOs within market hours, and minimum distances apply. Minimum distance will be shown on the deal ticket.
How do I place a trailing stop loss order?
To place a trailing stop loss order, start by opening a deal ticket or select the "set" option in the stop section of your position. Once you have an open deal ticket:
- Click the ‘Stop’ drop-down selector
- Select ‘Trailing’ from the list of options
- You can add multiple trailing stops on one position by clicking on the ‘Advanced Ticket’ option and adding additional stops
A trailing stop is created by setting a stop order that 'trails' your position by a specific number of points. If your trade moves in your favour, the trailing stop moves with the market, executing only when the market moves against you by the set number of points.
How do I place an OCO order?
To place a One-Cancels-Other order (OCO), start by clicking on the ‘Add OCO’ link on the bottom right of the order ticket. This opens a second part to the trade ticket to allow you to place two orders at once. After that you can now add one order on the left side of the ticket (with associated stops and limits if required), and another order on the right side of the ticket. If one order is triggered, the other order is cancelled.
This can be useful if you think the price of an instrument will move sharply in one direction or the other and you can place a sell order and buy order to try to take advantage of the sharp price movement
How do I hedge my position?
In order to hedge your position, click on ‘Advanced Ticket’ and select ‘Hedging’. This will then display a note on the trade ticket that reads ‘Hedging is on’.
A ‘hedged’ position is when you go both long and short in the same market on a non-FIFO basis. FIFO stands for 'first in first out'. If you have multiple trades in the same market, placed on a FIFO basis, the first position to close is the first position placed in that market.
Non-FIFO allows you to open and close positions in the same market in any direction you wish. It doesn't prevent you from closing the first trade you placed, it simply gives you greater flexibility to open and close multiple positions in multiple directions.
You can also set up your platform to toggle hedging on or off. To choose this setting, visit the My Account section of the platform in the top right hand corner.
How can I adjust price tolerance (slippage)?
To adjust your price tolerance for a market, follow these steps:
- Select the dropdown next to your market in the Browse Markets tab, and hit 'Market 360'
- Click on 'Preferences' in the bottom left-hand corner
- Pick your preferred price tolerance from the menu. Selecting '0' will remove all slippage
If you select 0 and the market's price moves before your trade is confirmed, you'll need to submit a new trade request.
Where can I find full market information details?
Full market information is found on left hand side of the Market 360 view of a market. You can view all the available information here including margin requirements, spreads, stakes, market opening times and more.