EQMarkets offers its traders a variety of support services, such as Expert Advisers, Indicators and Scripts for smoother and more effective trading.
You can make modifications to Expert Advisors making them more integrated and enabling them to analyze larger volume of information for a certain period of time, and thus making more correct price estimates.
Below you can see the window with EQMarkets MT4.0 Trader platform open. It shows how the EQMarkets platform works. It is made up of windows which are linked by default, but they can be managed and changed in many ways. You can arrange the windows on the screen in a user friendly way.
HOW ONLINE TRADING SYSTEM WORKS:
There is a difference between trading, using the online trading systems, and trading on the other online trading or market systems. It is well-known that while executing transactions on the online trading systems, you expose yourself to risks relating to the hardware and software failure. Additionally, there are factors that could affect the trading system performance, including (but not limited to): Internet connection, high size of the order, lack of liquidity, client heavy workload, geographical location, news items, disasters and/or other unforeseen circumstances.
Despite EQMarkets starting backup systems and contingency plans aiming to minimize the risk of a system failure, there are factors that EQMarkets cannot keep under its control, such as signal strength, signal reception, Internet connection, Internet routing, CPE configuration. It may happen that your order is not executed according to your instructions or is not executed at all due to some system failure. However, we will try to resolve your problem as soon as possible in order to keep on trading.
The Market Watch window, also known as the Quotes Window, functions as a floating palette. You can freely drag it anywhere on the screen, even over other windows. The Market Watch window can be reached using menu: View > Market Watch or with the key combination – Ctrl + M. The Market Watch window can also be opened and closed with the Market Watch button on the toolbar.
The Market Watch shows current prices of the trading currency pairs, as well as makes it possible to execute transactions with any currency pair in a quicker way. You can start trading by just double clicking the selected instrument, and then the Order Form will open. The Order Form can be also reached by right-clicking the chosen currency pair, after that just simply select New Order.
Hints and Tips
- In order to add or remove currency pairs from your list, you should right click the Market Watch window.
- Press F10 to reach a price pop-up window
Charts play a key role for the EQMarkets Trader.
In order to open a new chart you should:
- Right-click the Market Watch window, then choose the Chart Window option;
- Use Ctrl + W key combination;
- Click on the options File > New Chart;
- Or press the New Chart button on the toolbar.
Each chart can be set according to your own preferences. The structure of the charts can be managed in various ways. Select one out of three chart styles: Candlestick, Bar Chart or Line. You can easily apply one of our regular indicators or download one from our library and choose a Chart Theme.
The Navigator offers quick and easy access to various programs and sources. The Navigator can be reached through the option View > Navigator or by applying the Ctrl + N key combination. To switch the Navigator on and off press, the Navigator button on the toolbar.
The Navigator consists of folders, including:
- Accounts: The accounts folder comprises all your trading accounts (both demo and live). In order to add new account, just right click the folder and select “Open a New Account”. It is essential to understand from which account you are trading at the moment.
- Indicators: the Indicators folder shows all regular market indicators and library of Indicators that you can find on our forum. To activate indicator for the current chart, just double click Indicator option.
- Expert Advisors: the Advisor folder represents advice systems. You can add an Advisor to the current chart by double-clicking it.
- Scripts: Scripts are the programs designed for single time execution of a given transaction. Scripts are not functional enough in terms of the tick-wise price fluctuations, and have no access to Indicator, unlike Expert Advisors.
The Trade Terminal can be used for online trading and monitoring open positions in the real time mode. You can activate it via the options View > Terminal or by using Ctrl + T key combination. You can also press the Trade Terminal button on the toolbar. The Trade Terminal may be located anywhere on the screen. The Trade Terminal window can be dragged anywhere on the screen by clicking the window title bar and by holding down your left mouse button.
The Trade tab window shows active currency positions. Positions can be managed via the Context Menu. To execute Context Menu function, just right-click any position.
Context Menu active positions are as follows:
- New Order: opens the Order Form window.
- Close Order: opens the Close Order window.
- Modify or Delete Order: edits stop-loss and take-profit orders.
- Trailing Stop: you can choose a pre-defined Trailing Stop or press Custom to set up your own trailing stop.
- Profit: shows profit as points in currency or as deposit currency.
- Commissions: switches the Commissions field on and off in the Trade Terminal.
- Taxes: switches the Taxes field on and off in the Trade Terminal.
- Comments: switches the Comments field on and off in the Trade Terminal.
- Auto Arrange: allows to arrange trade columns according to your preferences (width, placement, etc.), when off.
- Grid: show/hide the grid to view certain columns.
The instructions for opening a position are as follows:
- Select menu Tools >New Order.
- Press the F9 button on the keyboard.
- Double click currency pair in the Market Watch window.
- Right click the Trade Terminal window and choose New Order.
You can open a position and place the order as soon as the Order Form window appears.
The order window asks users to select an instrument (Symbol), specify the number of lots (Volume), set up an optional Stop Loss (Stop Loss), set up an optional Take Profit (Take Profit), and select the order type (Instant Execution or Pending Order).
To execute the order, click the Sell or Buy button.
Firstly, it is better to set a stop loss. Most traders take Trailing Stop as if it were a stop loss. Keep in mind that a Trailing Stop is not activated until a trade goes beyond the amount of pips set for the Trailing Stop (+ 1). To put it simply, if you set a Trailing Stop at 15 pips, it will not transform into a stop loss until the market have gone at least 16 pips in the trader’s favor. If the market moves in other direction than the set position, stop loss will not provide protection for your position.
How Trailing Stop works?
Trailing Stops are aimed to lock in profits. Trailing Stops follow the increasing profit and adjust stop loss respectively. A Trailing Stop with the set 15 pips will be activated once a position will be with 16 pips in your favor. Starting from this level the Trailing Stop will adjust pip for pip as profit keep on increasing. In case a trader with Trailing Stop set at 15 pips has positive 20 pips, it means that at least 5 pips of his profit are protected. If the position goes up, the protected profit also increases.
As soon as Trailing Stop is activated, the client’s computer sends an updated stop loss to EQMarkets servers. However, in case the computer is switched off, the stop loss will stop trailing.
How to set a Trailing Stop?
- As soon as the order is placed, put the ticket number in the Trade Terminal window.
- Right-click the ticket number and press the Trailing Stop button.
- Select one from the several pre-set Trailing Stop levels. A check mark will appear near the set Trailing Stop.