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>>Narrator: Hello and welcome to UFXMarkets’ tutorial series. In this video we will show
you how to edit a trading position. Once you are logged into the trading platform
and have opened a position, you will be able to edit your stop loss and take profit points
in either of two ways. The first method is by clicking the “plus
sign” next to the instrument in which you currently have an open position. This will
bring down a menu that shows the details of your current trade.
From left to right, you will see: “Direction”, which is buy or sell,
the deal amount, stop loss and take profit;
the “Open rate”, which is the rate at which you opened your position,
and your “P&L”, or profits and losses. On the right hand side of this menu, you will
see 2 blue links, edit and close. Click the edit button and an additional menu
will drop down. In this window, you will be allowed to set
your stop loss and take profit points. The green circles, with a question mark provide
helpful information for setting these levels. In simple terms, your Stop Loss is the price
level at which you want your position closed if your position turns against you.
Your take profit is the price level you want your position to close once you make a certain
amount of profits. You can set Stop loss or take profit by either the Rate or the Amount.
When setting your stop loss, if you select Amount, then you are indicating the amount
of money that you are willing to risk. If you select rate, then you are choosing the
price level that you are willing to go to before the deal should be closed. The take
profit position is set in the same way. When placing your stop loss and take profit
levels, you will notice that if you are set to amount, the rate will appear on the right,
and if you are set to rate, the amount will appear on the right.
Once you have set your positions, click “save”, and you will see a confirmation window appear
on the left. The other way to edit your positions is by
clicking “Open positions” in the Navigation Bar.
Here, you will notice that there are more details about your position than you will
find in the other window including: Deal ID,
the time you opened your position, the date your position expires,
and the current market rate. You will also see edit and close links on
the far right and the same process as before will apply.
If you would like to learn more about the features available on our Trading Platform,
have a look at some of the other videos in our tutorial series.
From UFXMarkets, good luck and happy trading.