Placing your first trade

With ThinkTrader, you can trade a variety of currency pairs, indicies, energies and metals. Here we'll look at how you can place your first trade on the platform.

How to place your first trade

We’ve made placing your first trade on ThinkTrader as efficient as possible – simply select the instrument you’d like to trade by either clicking the SELL price (if you think the price will fall), or BUY price (if you think the price will rise).

Clicking either SELL or BUY will open the order ticket. Here you can select what order type you’d like the trade to be, the lot size of the trade, and the stop loss and take profit levels should you wish. Once you’re happy with your selections, click “Place market sell/buy order” and the trade will be placed.

Monitoring your trades

In the Positions panel you can track and monitor all of your open trades. Within this panel you’ll be able to see:

  • The instruments you’re currently trading
  • Whether your order is a buy or sell order
  • The lot size of your trade
  • Your floating profit and loss amount
  • The price at which you opened your position
  • The current price of the instrument
  • The amount of margin required to hold the position
  • Your stop loss price, if set
  • Your take profit price, if set
  • The unique ID for each open position
  • The last time your order was updated

How to close out your positions

There are two ways to close out positions in the positions panel – either click on the ‘x’ icon located next to the ‘Last update’ column, or right-click on the open position itself and select ‘Close position’.

You can also close a select portion of your position by entering the number of ‘Lots to Close’. Simply click on the ‘Close position’ button to close out your trade at the best available price.

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