Placing a trade (Webtrader)
You can place a trade and close a position at any time, as long as the market for the instrument in question is open. Trading days and opening hours can be found by displaying instrument information (Outside opening hours, buy and sell buttons, and buy and sell menu items, are disabled).
The way you submit a trade depends on whether you are using the standard multi-step approach (Method 1) or One-click trading (Method 2). Note that One-click trading can only execute at-market trades.
Tip: Even if you have One-click trading enabled, you can still place an order using the standard multi-step approach.
The Pepperstone app and Webtrader are synchronised, so a trade initiated in the app will automatically appear in Webtrader, and vice versa.
Note: In this procedure, the word ‘click’ refers to either a click or a tap.
Method 1: Standard multi-step approach
You can begin placing a trade from a watchlist that includes the instrument you want to trade, or from a chart for that instrument.
1. From a watchlist that includes the instrument you want to trade:
a. If the watchlist is in list view:
i. Right-click (or press and hold) on the instrument.
ii. Select Buy Order or Sell Order from the menu that appears.
iii. Continue with step 3 below.
b. If the watchlist is in tiles view:
i. Click on the Sell or Buy tab for the instrument.
ii. Continue with step 3 below.
2. From a chart of the instrument you want to trade, either:
a. right-click (or press and hold) on the chart and select Buy or Sell from the menu that appears or
b. click on Buy or Sell near the top left corner of the chart.
! If One-click trading is enabled, tapping or clicking on Buy or Sell near the top left corner of the chart immediately executes the order (based on your default lot size and protection order parameters).
Tip: If you move the cursor up or down a chart, the price indicated by the position of the cursor at any time is highlighted on the price axis. If you right-click (or press and hold) on the chart and select Buy or Sell (step a above), the order you are about to place defaults to Limit and the price defaults to whatever was highlighted when you right-clicked (or pressed and held). However, you can override these defaults.
Tip: You can also choose to place a pending order by selecting its type (L for loss or S for stop) from the Limit/Stop dropdown menu—see right— and then clicking on the chart at the desired price. Depending on where you click, Webtrader automatically chooses the side (Buy or Sell).
For example, if you chose a limit order (L), the side becomes Sell if you clicked above the current price, or Buy if you clicked below the current price. If you chose a stop order (S), the side becomes Buy if you clicked above the current price, or Sell if you clicked below the current price.
3. The New Order window appears:
If you have chosen a buy order when you meant to choose a sell order, click or tap on Sell (or vice versa).
4. If you have chosen the wrong instrument, clear the Symbol field and search for the symbol of the correct instrument.
5. Select the order type: Market, Limit or Stop.
6. Enter the required value in the Lots field.
7. If you are making a Limit or Stop trade, enter the price at which you want to buy or sell the lots. (The field is labelled Limit Price or Stop Price depending on the type of order you are placing.)
As you enter a lot number and price, an estimate of the margin required is displayed:
8. If you are placing a stop loss or take profit trade:
a. Select Protection Orders.
b. Select Stop loss and/or Take Profit.
If you have preconfigured protection order parameters, the values shown default to the preconfigured pip values; otherwise system defaults are shown.
c. Instead of basing the trade on a preconfigured or system default, you can base it on price, a number of pips, the projected loss or profit, or the percentage of balance. To do so, click in the rightmost field (labelled Price in the example above) and choose an alternative basis.
d. In the field immediately after Stop Loss or Take Profit, enter a price, number of pips, projected loss or profit, or percentage of balance.
9. For Limit or Stop orders, the order lifetime defaults to GTC (good till cancel). To change the default, click or tap on GTD (good till date) and enter a date and time:
10. Click Send Order.
Method 2: One-click trading
You can begin placing a one-click trade from a watchlist that includes the instrument you want to trade, or from a chart for that instrument.
- From a watchlist that includes the instrument you want to trade, click on the instrument’s Bid price or Ask price (in list view) or SELL or BUY tab (in tiles view).
- From a chart of the instrument you want to trade, click on Buy or Sell near the top left corner of the chart.