Jump to content
  • 0

Lot size, Price Level, Expiry , Stop and Limit


CaiGengyang

Question

Hi, I am a newbie trying to place an order under "Order" tab
 
 
1) If I want to risk 0.5% of my 200,000 SGD account on this one trade, what do I enter under the " Size USD($) " column?   (My account is in SGD, while the size column in is USD)
 
2) What is the "price level" column about?
 
3) What is expiry "good till canceled" and "good till date" ?
 
3) If these are my buy entry and long exit rules respectively: 
 

" Buy entry: Place a stop order 10 ticks above the two-day high. This will help ensure

buying with the new trend and help to avoid false signals. Keep order until filled or as

long as the buy alert is still valid. 

Long exit: Place a stop equal to the 20-day EMA. Continue to update this stop daily to

form a trailing stop. "

 

What should I do to enter this information(both the stop order 10 ticks above the 2 day high and the trailing stop equal to the 20-day EMA) into the system and what do I fill in under "Stop" and "Limit"?

 

Thanks alot.

 

Link to comment

1 answer to this question

Recommended Posts

  • 0

Hi @CaiGengyang

3 hours ago, CaiGengyang said:
 
1) If I want to risk 0.5% of my 200,000 SGD account on this one trade, what do I enter under the " Size USD($) " column?   (My account is in SGD, while the size column in is USD)

0.5% of 200,000 is 1000 so your stop loss on the trade can't be more than $1000 SGD so the 'size' x stop loss in points must be adjusted to come in under $1000. The order ticket auto calculates this, the size of the stop loss should be fixed as per your trade plan so try different trade sizes so that the risk amount is less than 1000 SGD on the trade.

The Price Level is the price you want to enter the trade (Place a stop order 10 ticks above the two-day high), the platform knows what type of order it is by where you place the entry level.

The Expiry is when an unfilled order gets cancelled.

The Stop is the stop loss ( Place a stop equal to the 20-day EMA) you will need to read off the level and fill in on the order ticket and then adjust manually once the order gets filled. The Limit is the price level you want to take profit and close the trade (can be left blank).

Hope this helps.

 

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      18,581
    • Total Posts
      84,597
    • Total Members
      67,728
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    back2black
    Joined 26/05/22 10:01
  • Posts

    • Charting the Markets: 26 May European indices pause following the Fed's rate hike. EUR/USD, EUR/GBP and USD/JPY drop post FOMC minutes. And gold price weakens, while oil stalls and natural gas heads higher.     This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.
    • Under new powers, the UK government is investigating the recently acquired stake in BT by the private French telecoms business Altice. Last December Patrick Drahi’s Altice group raised its stake in BT from 12.1 to 18%. The UK government is asking if this move breaches the National Security and investment Act passed last year.              
    • The stock of Twitter was up as much as 15.8% all-sessions on the IG platform last night after Elon musk raised his personal funding of his $44 billion offer for the social media giant. But, as IGTV’s Jeremy Naylor also says, there was chaos in the boardroom after investors blocked Egon Durban from re-election.        
×
×
  • Create New...