Symbol: The instrument being traded.
Type: The order type. Options include:
- Market Execution (immediately executed at the current market price),
- Pending Orders (executed later when a specified price is reached).
Volume: The trade size (measured in lots).
- 1.00 lot = 100,000 units of the base currency.
Stop Loss: A price level where the position will automatically close to prevent further loss.
Take Profit: A price level where the position will automatically close once the profit target is reached.
Fill Policy: How the order should be filled:
- Immediate or Cancel → execute now or cancel,
- Fill or Kill, etc. (varies by broker).
Price display (1.16583 / 1.16593):
- Bid price: price at which you can sell.
- Ask price (1.16680): price at which you can buy.
- The small difference between the 2 values is the spread.
Buttons:
- Sell by Market → instantly sell at bid.
- Buy by Market → instantly buy at ask.
Pending Order
It looks similar to the Market Execution window but adds extra fields because an order is being scheduled for later execution instead of entering at the current price. i.e. once price hits a chosen level.
Type (Pending Order): Means the order will only trigger once the market reaches a specific price level.
Type (dropdown under Pending Order): Choose the type of pending order:
- Buy Limit → Buy at a lower price than the current market price (expecting price to rise afterwards).
- Sell Limit → Sell at a higher price than the current price (expecting price to drop afterwards).
- Buy Stop → Buy at a higher price than the current price (expecting price to continue rising).
- Sell Stop → Sell at a lower price than the current price (expecting price to continue falling).
- (Some brokers also offer Stop Limit orders, where a stop order converts to a limit order at a set level).
Price: The exact level at which the pending order should be triggered.
Stop Limit price (only used if Stop Limit order type is chosen): Secondary price level where a Stop order becomes a Limit order.
Expiration: How long the pending order remains valid:
- GTC (Good Till Cancelled) → stays until deleted it or it’s triggered.
- Day → valid until end of trading day.
- Specified → valid until a date/time is set (see Expiration date box).
Place button: Confirms and creates the pending order.