SaxoTraderGO. Saxo Academy. Trading CFDs on Live Prices. academy.tradingfloor.com

Transcription

1 Saxo Academy SaxoTraderGO Trading CFDs on Live Prices Please note, these notes are transcripts of the videos on Saxo Academy and are designed to accompany the SaxoTraderGO video series.

2 Placing CFD Trade Orders In this tutorial we ll show you how to place a CFD Trade Order in the SaxoTraderGO Go platform. As an example I am interested in trading 5,000 Vodafone as a CFD as I think we are going to see some price movement in the company today. So, maybe I have been looking at the chart and have identified an area of interest at around 220. So I am going to place a limit order to buy 5,000 Vodafone if the market price falls to 220. If my entry order executes, I want to add a limit order to close the position to take profit at 230. I will also add a Stop Loss to limit my losses if the price does not rebound from 200 but continues down to 190.

3 If you have a Watchlist with your CFD, click the Bid, Ask or Last Traded button on the CFD to open its Trade Ticket. Alternatively, the Instrument Finder at the top of the platform makes it easy to find and select any instrument by just entering a few letters of the instrument s name or symbol. I will be trading the Vodafone as a CFD so I can just enter VOD. You ll notice that we have a few entries of Vodafone in the list. The first here is the stock with the yellow stock (or equities ) icon, and I want to trade it as a CFD which has the red CFD icon here. You ll also note that Vodafone is listed on a number of stock exchanges but I want the main listing on the London Stock Exchange which is the one here with an xlon extension. So be careful about selecting stocks on the exchange you want to trade. I will just select that from the list. The Vodafone CFD on London is selected in the Trade Ticket and the trade types available are available from the Trade Selector. In this example we are going to place a trade order so I leave the Trade Selector on the default Limit Order. So first, we will select the amount to trade. I am going to Buy 5,000 Vodafone CFDs so I select 5,000 here for the quantity. -I will enter the entry price of 220. The Duration sets how long the order is valid for. By default this is G.T.C. or Good Till Cancelled which means the order will never expire. In my example, if this strategy doesn t execute before the end of the day, I want to cancel it so I will select Day Order. (Please see next page)

4 You can also select other timescales but Day Orders and Good Til Cancelled are the most commonly used. -Now I am going to add the related Take Profit and Stop Loss orders I talked about by first clicking the Add Take Profit / Stop Loss link. -First I will select Limit to add a Take Profit Limit Order. -I want to place my order at a fixed price level so I will enter a Limit Price of 230. Note I can also select percentage to enter a price as a % change away from the entry price. -And I will select Stop to add a stop loss to protect my position. A number of stop order types are available, but I will take the default Stop. 4 (Please see next page)

5 I might just want to check the margin for this trade so I ll un-collapse the Margin section here. What this shows me is the change in my available margin if I buy this instrument and if I have sufficient margin to cover the trade, in which case the impact bar would be red. But this trade is well below my available margin so no problems there. -Let s go ahead and make our trade by clicking the Place Order button. -So now I have to confirm the orders are correct, I ll just double-check these.

6 -I will now click the OK that the order details are right to place the orders. The Trade Confirmation appears to confirm the orders. Note that I am seeing 3 orders because we placed the entry order, a take profit order and a stop loss order. I will just acknowledge that. And now I can see my new Vodafone order in the Open Orders list. As you can see I have a limit order to buy 5,000 at 220. I can also see my related limit order at 230 and stop order at 190 which are parked because they are not active in the market until after the Entry Order executes.

7 I can cancel the orders at any time before it is executed by selecting the order and clicking the Cancel order button. I can change the orders at any time before execution by double-clicking on it here. I can change the amount, price and duration for the entry and related orders. If I want to change anything else, such as the account or entry order type, I would have to cancel and replace the order. DISCLAIMER None of the information contained herein constitutes an offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument, to make any investment, or to participate in any particular trading strategy. This material is produced for marketing and/or informational purposes only and Saxo Bank A/S and its owners, subsidiaries and affiliates whether acting directly or through branch offices ( Saxo Bank ) make no representation or warranty, and assume no liability, for the accuracy or completeness of the information provided herein. In providing this material Saxo Bank has not taken into account any particular recipient s investment objectives, special investment goals, financial situation, and specific needs and demands and nothing herein is intended as a recommendation for any recipient to invest or divest in a particular manner and Saxo Bank assumes no liability for any recipient sustaining a loss from trading in accordance with a perceived recommendation. All investments entail a risk and may result in both profits and losses. In particular investments in leveraged products, such as but not limited to foreign exchange, derivatives and commodities can be very speculative and profits and losses may fluctuate both violently and rapidly. Speculative trading is not suitable for all investors and all recipients should carefully consider their financial situation and consult financial advisor(s) in order to understand the risks involved and ensure the suitability of their situation prior to making any investment, divestment or entering into any transaction. Any mentioning herein, if any, of any risk may not be, and should not be considered to be, neither a comprehensive disclosure or risks nor a comprehensive description such risks. Any expression of opinion may be personal to the author and may not reflect the opinion of Saxo Bank and all expressions of opinion are subject to change without notice (neither prior nor subsequent). This disclaimer is subject to Saxo Bank s Full Disclaimer available at: