Version 2.9
Contents 1. INTRODUCTION... 4 2. OVERVIEW... 6 3. GETTING STARTED... 7 3.1 INSTALLING PROFIT... 8 3.2 LOGGING IN TO PROFIT... 9 3.3 FUNDING YOUR PROFIT ACCOUNT... 10 3.4 VIEWING THE PROFIT WORKSPACE IN THE BEGINNER MODE... 12 3.5 VIEWING THE PROFIT WORKSPACE IN THE TRADER MODE... 13 3.5.1 Quotes Panel... 14 3.5.2 My Portfolio Panel... 17 3.5.3 Log Panel... 18 3.5.4 Charts Panel... 19 3.5.5 Sidebar Panel... 20 3.5.6 Navigation Bar... 24 3.6 CUSTOMIZING THE PROFIT WORKSPACE... 25 3.7 DEFINING YOUR PERSONAL TRADING LEVEL... 27 4. OPENING NEW POSITIONS AND PLACING NEW ORDERS... 29 4.1 VIEWING THE SYMBOLS PRICING... 30 4.2 OPENING A POSITION AT THE CURRENT MARKET PRICE OR PLACING A MARKET ORDER... 32 4.2.1 Opening a Position in the Confirm Mode... 33 4.2.2 Opening a Position in 1-Click Trade Mode... 35 4.3 PLACING AN ENTRY ORDER... 36 4.4 PROTECTING YOUR POSITIONS WITH SL/TP ORDERS... 38 4.5 PROTECTING YOUR ENTRY ORDER WITH OCO ORDER... 41 5. MANAGING EXISTING POSITIONS AND WORKING ORDERS... 42 5.1 MODIFYING OPEN POSITIONS... 43 5.2 MODIFYING ENTRY ORDERS... 46 5.3 CLOSING POSITIONS... 49 5.4 MANAGING YOUR POSITIONS AND WORKING ORDERS VIA THE MY PORTFOLIO PANEL... 51 5.4.1 Managing Your Open Positions... 52 Page 2
5.4.2 Managing the Exposure of Your Trades... 53 5.4.3 Managing Your Entry Orders... 54 5.4.4 Managing Your Closed Positions... 55 5.5 DISPLAYING YOUR PROFIT ACCOUNT SUMMERY REPORT... 56 5.6 DISPLAYING YOUR TRADING HISTORY REPORT... 57 6. USING THE CHART TOOLS...58 6.1 DISPLAYING A SYMBOL ON THE CHART... 59 6.2 ADJUSTING THE CHART DISPLAY USING THE CHART WORLD OPTION... 61 6.3 SETTING UP A CHART... 62 6.3.1 Selecting a Chart Type... 63 6.3.2 Selecting a Time Frame... 66 6.3.3 Selecting the Number of Records... 67 6.4 DISPLAYING ADDITIONAL INFORMATION ON THE CHART... 68 6.4.1 Displaying the Maximum and the Minimum Values... 69 6.4.2 Displaying the Percentage Price Scale... 70 6.4.3 Displaying the Grid Lines... 71 6.4.4 Displaying the Trading Volume... 72 6.4.5 Displaying the Data Information Box... 74 6.4.6 Displaying the Crosshair Tool... 75 6.4.7 Displaying the Chart History... 76 6.5 DRAWING ON THE CHART... 78 6.5.1 Adding Lines to a Chart... 79 6.5.2 Adding Geometric Shapes to a Chart... 81 6.5.3 Adding Text to a Chart... 82 6.5.4 Adding Up and Down Arrows to a Chart... 83 6.5.5 Adding the Standard Deviation Channel to a Chart... 84 6.5.6 Using the Fibonacci Drawing Tools... 85 6.5.7 Using the Andrews Pitchfork Drawing Tool... 87 6.5.8 Removing Drawings from the Chart... 88 6.6 CHANGING THE COLOR AND THE STYLE OF YOUR CHART ELEMENTS... 89 6.7 TRADING FROM A CHART... 91 6.8 MANAGING INDICATORS IN THE CHART... 93 6.9 MOVING AND RESIZING CHART ELEMENTS... 95 6.10 MANAGING CHART TEMPLATES... 96 6.11 SAVING YOUR CHART... 97 Page 3
1. Introduction PROfit is an easy to use online trading platform. This drag and drop platform is based on cutting-edge trading technology which was designed with the user in mind. PROfit provides a real time customizable graphical representation of the market movements and of your trades. PROfit offers you various trading tools, news feeds and support directly from the platform. Both, the beginners and the experienced traders can use this trading platform by easily adjusting its customizable features to their specific needs. The use of PROfit will maximize your trading success due to the following features and advantages: One-click trading execution. Instant trade execution. Direct platform support. Ability to trade forex, commodities and CFDs using advanced charting tools. Up-to-the-minute news streamed to the platform. Specific features for Beginners and Professional traders. Ultimate trading environment. Chapter 1: Introduction Copyright 2012 Trade Networks. All rights reserved. Page 4
About this Manual Whether you are a beginner or an expert, you can use this manual as a guideline for using PROfit. The following notes are used in this manual: Additional Options Note Describes additional operational instructions related to a particular feature. Indicates information that can be helpful in performing a particular procedure. This manual contains 3 main sections: Chapters 1-3 cover the basic information you need to know about PROfit before starting to trade; Chapter 4-5 cover the main trading tools that you can use to manage your trades; Chapter 6 covers more advanced trading tools which are the Chart tools. Starting from section 3.5, all platform images will apply to Trader workspace. For more information about differences between the Beginner and the Trader workspaces, see section 3.7 Defining Your Personal Trading Level. This manual provides information on the PROfit platform without getting into an explanation of how to trade forex. To get a general overview about forex trading principals, please refer to the Forex Academy at www.bforex.com/forex-academy/ Chapter 1: Introduction Copyright 2012 Trade Networks. All rights reserved. Page 5
2. Overview PROfit platform helps you easily manage your trades by providing you with advanced trading tools. The PROfit workspace is customizable and can be adjusted to your trading level. PROfit provides you with various ways to manage your trades. You can use PROfit tools to quickly open positions, place and modify orders. Once you become an experienced trader, you can also use advanced chart tools and different reports to better analyze the forex market and your personal trading strategy. Symbol is a tradable asset. Profit allows you to trade with two types of Symbols: Forex (FX) is a Currency Pair. For example, AUD/CAD is one FX symbol. CFD is a Contract for Difference. For example, APPLE is one CFD symbol. Chapter 2: Overview Copyright 2012 Trade Networks. All rights reserved. Page 6
3. Getting Started The current chapter provides information on basic steps you need to perform before actually starting to trade with PROfit: 1. Installing PROfit. 2. Logging in to PROfit. 3. Funding your PROfit account. 4. Getting familiar with the PROfit workspace. 5. Choosing your trading level. Chapter 3: Getting Started Copyright 2012 Trade Networks. All rights reserved. Page 7
3.1 Installing PROfit You can easily install the PROfit platform on your computer. To Install PROfit 1. Download the PROfit file to your computer's hard drive. 2. Run the file by double-clicking it, and then follow the on-screen instructions to complete the installation process. Aborting Installation You can click the Cancel button at any time to abort the installation process. 3. At the end of the installation process, select Launch and click Finish. Chapter 3: Getting Started Copyright 2012 Trade Networks. All rights reserved. Page 8
3.2 Logging in to PROfit Once the PROfit platform has been installed, you can use the launcher to access both your Live and Demo accounts. To log in to your PROfit account: 1. Double-click the PROfit desktop icon or select the PROfit link from the Windows Start menu; if a new version is available, PROfit prompts you to install new updates. Next, the PROfit Launcher Login window is displayed. Retrieving your Password In the Login window, click the Forgot Password. In the box displayed, enter your email address and click OK. The password is sent to your email. 2. Enter your username and password, and select your language. Changing your password 3. Click OK; the list of your PROfit accounts is displayed. In the Login window, click the Change Password. In the box displayed, type your old and new passwords and click OK. The new password is sent to your email. 4. Select the desired account and click Open Account; the selected account opens. Chapter 3: Getting Started Copyright 2012 Trade Networks. All rights reserved. Page 9
3.3 Funding Your PROfit Account You can fund your PROfit account from the launcher and directly from the PROfit platform. To Fund your Account from the Launcher 1. Log in to your PROfit account (See Section 3.2 Logging in to PROfit for more information). In the list displayed, select your Live account and click Deposit. You will be automatically redirected to the billing site. 2. In the billing site, follow the funding instructions that are provided. Chapter 3: Getting Started Copyright 2012 Trade Networks. All rights reserved. Page 10
To Fund your Account from the PROfit Platform 1. In the Quotes panel, click the Menu button and choose Deposit. Alternately, In the Account Status window, you can click Deposit. Method A Withdrawing your Funds To withdraw your funds, in a WebSite click Withdraw. Alternatively, you can click the More option in the Account Status window and then click Withdraw, as displayed: You will be automatically redirected to the billing site. 2. Follow the funding instructions that are provided. Method B Follow the withdrawal instructions that are provided. Chapter 3: Getting Started Copyright 2012 Trade Networks. All rights reserved. Page 11
3.4 Viewing the PROfit Workspace in the Beginner mode Once you have logged successfully in to the platform, the PROfit interface in the Beginner mode is displayed (For more information about the Beginner mode, see Section 3.7 Defining Your Personal Trading Level): Side Bar Quotes Panel My Portfolio Panel Navigation Bar When you open Profit for the first time, the Log panel is hidden from the Profit workspace. Click the Tutorial button, to display this panel. Tutorial Panel Chapter 3: Getting Started Copyright 2012 Trade Networks. All rights reserved. Page 12
3.5 Viewing the PROfit Workspace in the Trader mode In the Trader mode, the Charts panel is displayed instead of the Tutorial panel. Once you became familiar with the PROfit platform, you can change the layout of the workspace by choosing the Trader Mode form the main Menu (For more information, see section 3.7 Defining Your Personal Trading Level). The Workspace in the Trader mode is displayed: Side Bar Quotes Panel My Portfolio Panel Log Panel Navigation Bar Charts Panel Starting from section 3.5.1, by default, all platform images will apply to Trader workspace. Chapter 3: Getting Started Copyright 2012 Trade Networks. All rights reserved. Page 13
3.5.1 Quotes Panel You can use the Quotes panel to view forex Symbols available for trading, to open positions and to place different order types. The Quotes panel reflects streaming realtime prices which are updated automatically with the slightest market movement. The Quotes panel contains Quotes Layout Toolbar, Status bar, Quotes boxes area and Quotes list. Status Bar Quotes Boxes Area Quotes Layout Toolbar Quotes List Quotes Layout Toolbar The Layout toolbar is on the top right side of the Quotes Panel. Rebate Information box To join the Rebate Plan, please contact our customer service center by chat, phone or email. Layout Buttons The Menu options allow you to deposit to your PROfit account, define your Trading level and contact us. The Live/Demo icons indicate whether your current PROfit account is set to Demo or Live. The Layout buttons allow you to add symbols to the Quotes panel in order to view their contract information. See Section 4.1 Viewing the Symbols Pricing for more information. The Rebate Information box allows you to follow up the rebate you will get on a monthly basis once you join the Rebate plan. The rebate is calculated as a percentage of spreads in accordance with your trading volume. The Rebate Information box provides you with the following information: Current rebate - Shows your current rebate. Clicking this row will open a pop up window with additional information about your Rebate status. Volume for the next level - Shows the minimum volume which is required to reach the next rebate level. Chapter 3: Getting Started Copyright 2012 Trade Networks. All rights reserved. Page 14
The Status Bar The Status bar is on the top left side of the Quotes panel. This bar provides you with general information on your PROfit account. The Quotes List The Quotes List displays live dealing rates of each symbol and the time of last modification to the exchange rates. This list also displays the lowest ask price and the highest bid price recorded since the start of the trading day. In addition, the percentage of change which was recorded since the last market close is also displayed in this list. Trading Central icons In the Quotes List each symbol appears as a separate row. Filtering Symbols To filter the display of your Quotes list by symbols, click the filter icon which is next to the Symbol title. In the pop up window displayed, choose the desired symbols. The Quotes list is automatically updated. Click to close the pop up window. You can use the Sell/Buy buttons to open positions. See section 4.2 Opening a Position at the Current Market Price or Placing a Market Order for more information. Clicking the Trading Central icon will automatically log you into the Mirror site. The Mirror site page will open in a new window, displaying analysis regarding the particular symbol the clicked icon is located next to. If you haven t registered into the Mirror site yet or if your registration date has been expired, clicking the Trading Central icon will open an Information window with the relevant instructions. Chapter 3: Getting Started Copyright 2012 Trade Networks. All rights reserved. Page 15
The Quotes Boxes Area Each Symbol box in the Quotes Boxes Aria displays live dealing rates of the current symbol In the Quotes Boxes Area, each symbol appears as a separate Quotes box. You can use the Sell/Buy buttons to open positions. See section 4.2 Opening a Position at the Current Market Price or Placing a Market Order for more information. The Low and Ask Prices The lowest ask price and the highest bid price recorded since the start of the trading day. The Bid Graph This graph displays the real-time bid price of a symbol and provides a snapshot of market movements over a particular period of time. The graph is updated every 0.5 seconds. Clicking the option will open the Symbol menu. You can use this menu to place positions and entry orders, as well as to view the quote details and close it. Clicking the option will expand the Quote box displaying additional information: Roll S: displays the interest paid or earned for holding a Sell position overnight. Roll B: displays the interest paid or earned for holding a Buy position overnight. Hovering the symbol s name will open the following floating rectangle: Chapter 3: Getting Started Copyright 2012 Trade Networks. All rights reserved. Page 16
3.5.2 My Portfolio Panel You can use the My Portfolio panel to view and modify all your open positions and working orders. The My Portfolio panel contains key information on all your trades including open and closed positions, your current exposure and entry orders, as well as your PROfit account summery. There are five tabs in the My Portfolio panel: Open Positions, Exposure, Entry orders, Closed Positions, and Account Statement. In the Open Positions tab you can view all your open positions, modify and close them. In the Exposure tab you can view your account exposure which is divided by symbols. In the Entry Orders tab you can view your orders that have not been executed yet and edit them. In the Closed Positions tab you can search and view the details of all your closed positions. In the Account Statement tab you can print and export your PROfit account summery report. For more information, see Section 5.4 Managing Your Positions and Working Orders via the My Portfolio Panel. Chapter 3: Getting Started Copyright 2012 Trade Networks. All rights reserved. Page 17
3.5.3 Log Panel You can use the Log panel to track your account history. The Log panel enables you to view all your transactions and to search all your positions and orders by date. For more information, see Section 5.6 Displaying Your Trading History Report. Chapter 3: Getting Started Copyright 2012 Trade Networks. All rights reserved. Page 18
3.5.4 Charts Panel In the Trader mode, the Charts panel is an integral part of the PROfit workspace (For more information about the Trader mode, see Section 3.7 Defining Your Personal Trading Level). The Charts panel displays the real-time bid prices of a selected symbol and provides a snapshot of market movements over a particular period of time. The graph is updated every 0.5 seconds. The Chart advanced tools allows you to modify the view of your symbol graphs, to add drawing objects and to perform simple to complex market analysis. Symbol Ribbon Upper Toolbar Chart World Side Toolbar Symbol Button X-axis displays the timeline Y-axis displays the Symbol rates Symbol Ribbon use this ribbon to define which symbol to display in the chart. Chart World use this option to view several charts at the same time. For more information, see Section 6.2 Adjusting the Chart Display Using the Chart World Option. Upper toolbar use this toolbar to set up your chart by defining its type. You can also use it to open trades and to display additional information on your chart. Side toolbar use this toolbar to add and modify drawing objects in your chart. Symbol button use this option to change the color and style of your symbol graph. Chapter 3: Getting Started Copyright 2012 Trade Networks. All rights reserved. Page 19
3.5.5 Sidebar Panel The Sidebar Panel contains an Account Status window, 4 sidebar buttons, Time Zone, Market Updates video and Live Streaming window. For more information, see pages 21-23. Account Status Sidebar buttons Time Zone Live Streaming Window Daily video Chapter 3: Getting Started Copyright 2012 Trade Networks. All rights reserved. Page 20
Account Status Window The Account Status window displays the latest information on your account: Account Equity: Displays the current value of your account. PROfit calculates this as your initial deposit plus the Profit and loss on open and closed trades (realized and unrealized P&L) plus Bonus plus Credit plus withdrawals plus rollover. Exposure: Displays the amount of real time capital exposure on your account based on your leverage and account equity. Available Line: Displays the amount of your total buying power existing in USD, based on your leverage and account equity. For example, with 0.5% margin, your available buying power is equal to 200x your current account balance. Margin: The amount of equity contributed by a customer as a percentage of the current market value of the securities held in a margin account. You can also use the Account Status window to deposit or to withdraw your funds. See Section 3.3 Funding Your PROfit Account for more information. Used Margin: Displays the amount of Account Equity currently being used to maintain all your open positions. Used Margin calculated as follows: Size of position * Rate to USD) / 100 For example: If you buy 1 lot (10,000) GBP/USD @ 1.9520, the Margin Calculation will be: (10,000 GBP * 1.9520)/100 = $195.20 Used Margin Usable Margin: Displays the amount of account equity not currently committed to maintain the open positions. Usable Margin is also known as the amount available to open new positions. Used Margin plus Usable Margin equals Equity. Open P&L (Open Profit / Loss): Displays the potential profit or loss you would make if your active positions were closed at the current market price. Balance: Account Equity plus Open P&L. Credit: Displays the available credit in your trading account which you are not allowed to withdraw. Bonus: Displays the total amount of bonuses you are allowed to withdraw. Chapter 3: Getting Started Copyright 2012 Trade Networks. All rights reserved. Page 21
Sidebar Buttons There are four sidebar buttons: Home, Chat, Event Calendar and Contact Us. Use the Use the Use the Home option to access the home page. Chat option to initiate Live Chat. Contact Us option to contact us by phone, mail or email. Use the Event Calendar option for a quick preview of economic events for specific dates including their evaluated importance. Clicking the Event Calendar button will open the Event Calendar window. Clicking any event row will display additional information on the event under the Details tab. Clicking the Chart tab will display the current symbol as a chart, and clicking the History tab will show related history events. Time Zone The Time Zone displays your local time, as well as London and New York times. You can highlight the desired Time Zone by clicking the related clock. The selected time zone will be displayed in a green frame. Chapter 3: Getting Started Copyright 2012 Trade Networks. All rights reserved. Page 22
Live Streaming Window The Live Streaming Window provides you with streaming market updates. To view the complete news story, simply click on the running headline and the News Details window appears. Use the Previous, Next and Close buttons to navigate the window. Daily Video You can watch a daily video report specifically added to provide you with forex tips. To watch up-to-the-minute news updates, you can simply click Play in the control panel. Use the Pause/Play, Full Screen, and Volume buttons to control the video screen. Chapter 3: Getting Started Copyright 2012 Trade Networks. All rights reserved. Page 23
3.5.6 Navigation Bar The Navigation bar is displayed below the Log panel and consists of 4 toggle buttons. You can use these buttons to show or hide the PROfit panels in the main display area. When the panel is visible the related customization button appears in green. When you hide the panel the customization button appears in gray. The layout of the navigation buttons is changed according to the Trading Level. See Section 3.6 Defining Your Personal Trading Level for more information on the trading levels. Beginner Level Trader Level The icon indicates the strength of your internet connection to PROfit. Three Green bars mean you have a full connectivity. Use the option to get more information on PROfit features. Clicking this option displays marks in the workspace, next to feature titles. Clicking one of these question marks will open a floating bubble containing brief explanation about the current PROfit feature. See an example below: Chapter 3: Getting Started Copyright 2012 Trade Networks. All rights reserved. Page 24
3.6 Customizing the PROfit Workspace You can easily organize the view of your PROfit workspace to match your needs. The changes you make to the settings are automatically saved and displayed next time you log in to PROfit. To hide a particular panel from the workspace, click. Each panel has a default size and position on the display area. If a certain panel is closed, other panels are expanded. To show/hide PROfit panels in the workspace, use the Navigation bar. See Section 3.4.6 Navigation Bar for more information. To customize the Quotes panel you can use the Selected Symbol dialog box as well as the toggle show List/Box buttons. See Section 4.1 Viewing the Symbols Pricing for more information. To display a panel in a separate window, click. To resize panels, click and drag the splitters to the new desired position, as displayed: Chapter 3: Getting Started Copyright 2012 Trade Networks. All rights reserved. Page 25
To Customize the Charts Panel use the Chart World option. See Section 6.2 Adjusting the Chart Display Using the Chart World Option for more information. To change the orders of the columns in the grids, use the drag and drop option. To customize the width of the columns in the grids, place the cursor over the line between the two columns in the column heading area, as displayed: Click the line and drag it to the new desired position. Chapter 3: Getting Started Copyright 2012 Trade Networks. All rights reserved. Page 26
3.7 Defining Your Personal Trading Level The layout of the PROfit workspace changes according to the trading level you define. You can adjust the PROfit workspace to your trading level by switching between the Beginner and the Trader modes. See explanation on the next page. When you first start trading with PROfit, it is recommended that you set your trading level to Beginner. The Beginner workspace The Confirm mode is the only mode available in this level. See Section 4.2.1 Opening a Position in the Confirm Mode for more information. One of the forth buttons appearing in the Navigation bar is the Tutorial. One of the four panels appearing in the PROfit workspace is the Tutorial. The tutorial is activated automatically once you choose the Beginner level. The tutorial is the platform video tour where you are able to learn how to customize and operate the PROfit platform. Chapter 3: Getting Started Copyright 2012 Trade Networks. All rights reserved. Page 27
The Trader workspace Both, the Confirm mode and the 1-Click mode are available in this level. See section 4.2 Opening a Position at the Current Market Price or Placing a Market Order for more information. One of the four panels appearing in the PROfit workspace instead of the Tutorial is the Charts panel. One of the four panels appearing in the PROfit workspace instead of the Tutorial is the Charts. To select your trading level 1. Click the Menu button, choose Layout and then choose one of the two options provided, as displayed: The PROfit workspace is modified according to the trading level you chose. Chapter 3: Getting Started Copyright 2012 Trade Networks. All rights reserved. Page 28
4. Opening New Positions and Placing New Orders After you have specified your trading level, you can open positions at the current market price, as well as to enter the market when the price meets certain conditions you have specified. PROfit helps you to monitor your entering to the market by allowing you to place the following order types: Market order place this order when you want to enter into a position immediately, at the best available price at the time. The following example illustrates the placement of Buy Entry Limit order: suppose the EURUSD market price is 1.2600 and you believe that the price will begin to rise after first dropping to 1.2540. In this case, you set your Buy Entry Limit to 1.2540. When the market will reach this rate, the position will automatically open. Buy Entry limit place this order when you believe that the price will begin to rise after first dropping to a certain level. The order is executed when the ask price is equal to the Buy Entry order. Buy Entry Stop place this order when you believe that the price will continue to rise after it breaks above a certain level. The order is executed when the ask price is equal to the Buy stop order. Sell Entry limit place this order when you believe that the price will begin to fall after it reaches a certain level. The order is executed when the bid price is equal to the Sell Entry order. Sell Entry Stop place this order when you believe that the price will continue to fall after it breaks below a certain level. The order is executed when the bid price is equal to the Sell Stop order. Chapter 4: Opening New Positions and Placing New Orders Copyright 2012 Trade Networks. All rights reserved Page 29
4.1 Viewing the Symbols Pricing Before opening a position or placing an entry order, you must determine a good time to enter the market. In order to do this, you need to know the real-time dealing rates of the symbols. PROfit allows you to view streaming real-time bid and ask prices of all available symbols via the Quotes panel. When you open PROfit for the first time, the following symbols appear in the Quotes panel: EUR/USD, GBP/USD, USD/CHF, USD/JPY and USD/CAD. You can use the following Layout Toolbar options to add, modify and remove symbols from the Quotes panel: Use the and buttons to open a Select Symbols window, which allows you to define how the symbols are displayed; as Quote boxes, as rows in the Quotes List or both. For example, you can make the AUD/CHF symbol appear only as a Quote box while the AUD/JPY symbol will appear only as row in a Quotes List. Use the Toggle Show List button to show/hide the entire Quotes list from the panel. Use the Toggle Show Boxes button to show/hide all the Quote boxes from the panel. Chapter 4: Opening New Positions and Placing New Orders Copyright 2012 Trade Networks. All rights reserved Page 30
To display a symbol in the Quotes panel: 1. In the Quotes toolbar, click Forex or CFD; the Select Symbol window opens a Forex or CRF tab accordingly, containing all related symbols available for trading. For example, if you click Forex, the Select Symbols window appears when the FX tab is selected and the list of all available FX symbols is displayed. 2. In the Available Symbols list find the symbol you want to add by using the scroll bar. Alternatively, you can simply type the first letter of the symbol s name into the Search text box; the list of all symbols starting with the typed letter is displayed. Removing a Symbol 3. Double click the symbol you want to add to the Quotes panel or left click the symbol and then click Add; The selected Symbol is added to the right Selected Symbol list. By default, the Box View and the List View checkboxes are checked, so the symbol appears both as a row in the Quotes list and as a Quote box. To remove a symbol from the Quotes panel you can uncheck the Box/ List View checkboxes. Alternatively, you can select the desired symbol from the right Selected Symbol list and then click Remove. 4. Click Close or to exit the Select Symbols window. Chapter 4: Opening New Positions and Placing New Orders Copyright 2012 Trade Networks. All rights reserved Page 31
4.2 Opening a Position at the Current Market Price or Placing a Market Order PROfit enables you to open your positions at current market prices in two different modes: Confirm mode and 1-Click Trade mode. The 1-Click Trade mode is available only in the Trader level. In this level, to switch between modes, use the Mode button, located at the top-left corner of the Quotes panel. See section 3.6 Defining Your Personal Trading Level for more information. You can view all you entry orders that haven t been executed in My Portfolio panel, under the Entry Orders tab. You can also see the entry orders as blue trading lines in the Charts panel. Once the entry order is executed, it is moved to the Open positions tab. Chapter 4: Opening New Positions and Placing New Orders Copyright 2012 Trade Networks. All rights reserved Page 32
4.2.1 Opening a Position in the Confirm Mode The Confirm mode enables you to confirm each position you open before its final execution. In this mode you can use the Open Position window to place positions at the best available market price. The Open Position window allows you to define your trading amount, to change the direction of your position and to limit it, if desired. See how to display the Open Position window on next page. The name of the selected symbol is displayed. The Ask / Bid button which represents the current direction of your position appears highlighted. The direction of your position is displayed. The Type field is set to Market Order, allowing you to open a position at the current market price. Note: In Market Order, the Order Rate text box cannot be activated. By default, the Limit Type field is set to None. For more information on limiting your position, see Section 4.4 Protecting Your Positions with SL/TP Orders. Chapter 4: Opening New Positions and Placing New Orders Copyright 2012 Trade Networks. All rights reserved Page 33
There are several methods to display the Open Position window: Method B Method A In the symbol quote box, click. From the displayed menu choose the Sell or Buy option. The Open Position window opens. Method C In the symbol quote box, click the Sell or Buy button. The Open Position window opens. In the Quotes list, in the symbol row click the Sell or Buy button. The Open Position window opens. Method D In the Charts panel, under the desired symbol tab, click the New Trade button and then click somewhere in the chart. The Open Position window opens. For more information, see Section 6.7 Trading From a Chart. To open a position in Confirm Mode 1. Use one of the methods listed above to display the Open Position window. 2. In this window, in the Amount list, select or type the size of your trade. 3. Click OK to confirm; the position opens and the Information window appears confirming your action. 4. Click OK or to close the Information window. Chapter 4: Opening New Positions and Placing New Orders Copyright 2012 Trade Networks. All rights reserved Page 34
4.2.2 Opening a Position in 1-Click Trade Mode To Turn On the 1-Click Trade Mode Click the Confirm Mode button, as displayed: When you want to monitor market movement and make trades quickly, you can use the 1- Click Trade mode. The 1-Click Trade mode allows you to open a position without confirmation, in one click. After you define your trading mode as the 1-Click trade mode the Quotes panel is modified as follows: In the Quotes List, a new Amount column appears. In the Quote boxes, a new button appears in the right corner of the Buy and Sell buttons. To open a position in 1-Click mode, follow one of the following methods: Method A Method B Method C In the Quotes List, in the selected symbol row, in the Amount drop down list, select or type the size of your trade and click Buy/Sell; the position opens. In the Symbol box, from the Amount drop down list select or type the size of your trade and click Buy/Sell; the position opens. In the Symbol box, from the Amount drop down list select or type the size of your trade and click. From the Quotes menu displayed, choose Buy/Sell; the position opens and the Information window appears confirming your action. Click OK to close this window. Method D In the Symbol box click. The Open Position window is displayed. See Section 4.2.1 Opening a Position in the Confirm Mode for more information on opening position using the Open Position window. Chapter 4: Opening New Positions and Placing New Orders Copyright 2012 Trade Networks. All rights reserved Page 35
4.3 Placing an Entry Order Sometimes, when you wish to enter the market at a specified rate other than the current market price you can place an entry order. You can use the Open Entry Order window to place an entry order. This order will automatically become an open position once the market price will reach the price you have specified in this window. The execution rate of your entry order which you enter into the Order Rate text box must be in the range indicated below the text box. The Type field is set to Entry Order allowing you to specified rate other than the current market price in the Order Rate.. Use the Good till Cancelled option to specify the expiration date of your entry order. Once the market reaches this value, the entry order will be canceled. You can view all your entry orders that haven t been executed yet in the My Portfolio panel, under the Entry Orders tab. You can also see entry orders as blue trading lines in the Charts panel. Once the entry order is executed, it is exported to the Open positions tab. Chapter 4: Opening New Positions and Placing New Orders Copyright 2012 Trade Networks. All rights reserved Page 36
There are several methods to display the Open Entry Order window: Method A First, display the Open Position window. For more information see Section 4.2.1 Opening a Position in the Confirm Mode. Next, in the Open Position window, in the Type drop down list, choose Entry Order; the Open Position window is expanded to the Open Entry Order window. Method B In the Quote box, click and from the menu displayed, choose the Entry Order option; the Open Entry Order window is displayed. Method C In the 1-Click mode In the Quote Box, click. The Open Position window is displayed. In the Open Position window, choose Entry Order from the Type drop down list; the Open Position window is expanded to the Open Entry Order window. To Place an Entry Order 1. Use one of the methods listed above to display the Open Entry Order window. 2. From the Amount list, select or type the size of your trade. Limiting your Order For more information on limiting your entry order with SL/TP/OCO orders see Section 4.4 Protecting Your Positions with SL/TP Orders as well as Section 4.5 Protecting Your Entry Order with OCO Order. 3. In the Order text box, type the execution rate of your entry order. 4. Specify the expiration date of your entry order by using the Good Till Value option. 5. Click OK; the entry order is placed and the Information window appears to confirm your action. 6. Click OK or to close the Information window. Chapter 4: Opening New Positions and Placing New Orders Copyright 2012 Trade Networks. All rights reserved Page 37
4.4 Protecting Your Positions with SL/TP Orders Placing SL/TP orders allows you to manage your risk on any open position. You can place the SL/TP for both a Market Order and Entry Order. Stop loss Order (SL) - You can use the Stop Loss order to limit your losses by making your positions automatically close if the price moves in a direction different to what you expected. You can place a stop loss order to close your trade at a specified amount or at a specified rate which is different from the current market price. Take Profit order (TP) - placing a Take Profit order ensures, that your position will be closed if your target price is reached. This helps you manage your risk even when you are not available, or when the price touches the target too quickly for you to react. Chapter 4: Opening New Positions and Placing New Orders Copyright 2012 Trade Networks. All rights reserved Page 38
To place a Stop Loss / Take Profit order to Market order To place a SL / TP order in a 1 Click Trade mode, in the Quote box click. The Open Position window is displayed. Follow the 2-8 steps from To place a Stop Loss/Take Profit order instructions. 1. Display the Open Position window. For more information, see Section 4.2.1 Opening a Position in the Confirm Mode. 2. From the Amount list, select or type the size of your trade. 3. From the Limit Type drop down list, choose SL/ TP; the Open Position window is expanded. 4. Check the Stop Loss and/or Take Profit checkbox; the rate range is displayed. When entering an Amount value, the modified At Rate value must fall inside the range indicated in the Range text box below. 5. Define your SL/TP rates by doing one of the following: In the At Rate text box enter your SL/ TP rate; the Amount value is automatically modified to fit the entered rate. Alternatively, in the Amount text box enter the approximate amount which will trigger the SL/ TP order; the At Rate value is automatically modified. 6. Specify the expiration date of your SL/TP, if desired. 7. Click OK; the SL/TP order is placed and the Information window appears. 8. Click OK or to close the Information window. Chapter 4: Opening New Positions and Placing New Orders Copyright 2012 Trade Networks. All rights reserved Page 39
To place a Stop Loss / Take Profit order to Entry Order 1. Display the Open Entry Order window. For more information, see Section 4.3 Placing an Entry Order. 2. In this window, from the Amount list select or type the size of your trade. 3. In the Order text box, type the execution rate of your entry order. 4. Specify the expiration date of your entry order, if desired. 5. From the Limit Type drop down list choose SL/ TP; the Open Entry Order window is expanded. 6. Check the Stop Loss and/or Take Profit check box; the rate range is displayed. 7. Define your SL/TP rates. For more information, see To place a Stop Loss / Take Profit order to Market order, step 5 in Section 4.4 Protecting Your Positions with SL/TP Orders. 8. Click OK; the SL/TP order is placed and the Information window appears. 9. Click OK or to close the Information window. Chapter 4: Opening New Positions and Placing New Orders Copyright 2012 Trade Networks. All rights reserved Page 40
4.5 Protecting Your Entry Order with OCO Order You can place either an OCO order or SL/TP orders for each entry order. You can use the OCO order to monitor your entry to the market by placing two entry orders simultaneously. If one part of the order is executed, then the other part is automatically canceled. To place an OCO order 1. Display the Open Entry Order window. For more information, see Section 4.3 Placing an Entry Order. 2. In this window, from the Amount list, select or type the size of your trade. 3. In the Order text box, type the execution rate of your entry order. 4. From the Limit Type drop down list choose OCO; the Open Entry Order window is expanded. 5. In the At Rate text box, enter the rate of your OCO order execution. The entered OCO rate must fall in the range displayed below. 6. Specify the expiration date of your OCO entry order, if desired. 7. Click OK; the OCO order is placed, and the Information window appears. 8. Click OK or to close the Information window. Chapter 4: Opening New Positions and Placing New Orders Copyright 2012 Trade Networks. All rights reserved Page 41
5. Managing Existing Positions and Working Orders After opening a position or placing an entry order, you can still react to dynamic market movements by changing the values of orders you have placed. You can use the My Portfolio panel to view, edit and close all your open positions at any time. You can also protect your trades by changing their amounts and modifying the rates of SL/TP orders you have placed. You can also use the My Portfolio panel to modify your entry orders. You can update their values such as amount, entry rate and OCO rate, until the entry orders are executed. All entry orders can be canceled as long as they have not reached the execution rate you defined. The Log panel is another effective tool you can use to manage your trades. This panel allows you to view, print and export your Trading History. This way, you can track all your activities and analyze your trading strategy. Another advanced tool which can help you manage your trades is the Chart panel. See Section 6 Using the Chart Tools for more information. Chapter 5: Managing Existing Positions and Working Orders. Copyright 2012 Trade Networks. All rights reserved. Page 42
5.1 Modifying Open Positions You can follow market movement by modifying positions you have already opened. To do this you can use the Position Details window that provides you with several ways to modify open positions. You can: Place new SL/TP orders. Change the values of the existing SL/TP orders. Update the expiration date and time of the placed SL/TP orders. Remove SL/TP orders. Close a position. See details about your open position. You can use this section to update the expiration date and time of the SL/TP orders you placed. You can use this button to close your position at the current rate. You can use this section to place new SL/TP orders, or to update and cancel existing ones. See how to display the Position Details window on the next page. Chapter 5: Managing Existing Positions and Working Orders. Copyright 2012 Trade Networks. All rights reserved. Page 43
There are several methods to display the Position Details window: Method A In the My Portfolio panel, Under the Open Positions tab, double click the position you want to modify; the Position Details window opens. Method B In the Log panel, double click the open position you want to modify; the Position Details window opens. Method C In the Charts panel, left click the white trading line which represents the open position you want to modify; the Position Details window opens. For more information, see Section 6.7 Trading From a Chart. Chapter 5: Managing Existing Positions and Working Orders. Copyright 2012 Trade Networks. All rights reserved. Page 44
To modify an open position 1. Display the Position Details window. For more information, see To open the Position Details window on the previous page. 2. Modify your open position by doing the following in the Position Details window: - Add new SL/TP orders or change the rates of the existing ones. For more information see To place a Stop Loss / Take Profit order to Market order, paragraph 5 in Section 4.4 Protecting Your Positions with SL/TP Orders. - In the Limits Expiration section, specify the expiration date and time of the SL/TP orders. - Remove your SL/TP orders by simply un-checking the related SL/TP check boxes. - Close your position by clicking the Close At Rate button; the Question window is displayed. 3. Click OK; the open position is modified, and the Information window appears, confirming your action. 4. Click OK or to close the Information window. Chapter 5: Managing Existing Positions and Working Orders. Copyright 2012 Trade Networks. All rights reserved. Page 45
5.2 Modifying Entry Orders You can follow the market movement also by modifying entry orders which haven t been executed yet. To do this, you can use the Entry Order Details window which provides you with several ways to modify entry orders. You can: Change the amount of your trade. Change entry order execution rate. Specify the entry order expiration date and time. Place, edit and remove SL/TP or OCO orders. Cancel an entry order. See details about your open position. You can use this section to change an entry order execution rate and amount. You can use this section to update the expiration date and time of the entry order you placed. You can use this button to close your position at the current rate. You can use this section to place new SL/TP or OCO orders, as well as to update and cancel them. See how to display the Entry Order Details window on the next page. Chapter 5: Managing Existing Positions and Working Orders. Copyright 2012 Trade Networks. All rights reserved. Page 46
There are two methods to display the Entry Order Details window: Method A In the My Portfolio panel, under the Entry Order tab, double click the order you want to modify; the Entry Order Details window opens. Method B In the Charts panel, left click the blue trading line which represents the entry order you want to modify; the Entry Order Details window opens. For more information, see Section 6.7 Trading From a Chart. Chapter 5: Managing Existing Positions and Working Orders. Copyright 2012 Trade Networks. All rights reserved. Page 47
To modify an entry order 1. Display the Entry Order Details window by following one of the methods listed on the previous page. 2. Modify your entry order by doing the following in the Entry Order Details window: - Adjust the size of your trade in the Amount list. - Enter a new execution rate into the Order Rate text field. - Under the Entry Expiration section, specify the expiration date and time of your entry order. - Add new SL/TP or OCO orders, or change the rates of the existing ones. - Remove your SL/TP or OCO orders by simply unchecking the related SL/TP check boxes. - Remove your entry order by clicking the Remove Order button; the Question window is displayed. 3. Click OK; the entry order is modified, and the Information window appears confirming your action. 4. Click OK or to close the Information window. Chapter 5: Managing Existing Positions and Working Orders. Copyright 2012 Trade Networks. All rights reserved. Page 48
5.3 Closing Positions PROfit provides you with several ways to close you positions. You can close positions one by one, or several positions at once. You can also close all your positions in one action. In addition, PROfit enables you more advanced options. You can specify the exact positions to be closed for a selected symbol: you can close Only Sell symbol positions, Only Buy symbol positions or All symbol positions. To close a single position 1. Display the Position Details window. For more information, see To open the Position Details window instructions on the previous page. 2. In the Position Details window, click the Close at rate button; the Question window is displayed. 3. Click OK; the selected position is closed and the Information window appears confirming your action. 4. Click OK or to close the Information window. To close several positions 1. In My Portfolio panel, under the Open Positions tab, select the checkboxes next to all the positions you want to close. 2. Click the Close Position button; the Question window is displayed. 3. Click OK; the selected position is closed and the Information window appears confirming your action. 4. Click OK or to close the Information window. Chapter 5: Managing Existing Positions and Working Orders. Copyright 2012 Trade Networks. All rights reserved. Page 49
To close all your open positions at once 1. In the My Portfolio panel, under the Open Positions tab, select the check box, as displayed: 2. Follow the 2-4 steps from the To close several positions instructions which are on the previous page. To close only selected Symbol Positions 1. In the My Portfolio panel, under the Exposure tab, click the desired symbol row; the Close Symbol Positions window is displayed... The amount that will be sold / bought by closing this position is indicated next to each option. Alternatively, open this window by left clicking the selected symbol and then clicking the Close Symbol Positions button. 2. Define which symbol positions to close by clicking the matching radio button. 3. Click OK; the Question window is displayed. 4. Click OK; the selected symbol positions are closed and the Information window appears confirming your action. 5. Click OK or to close the Information window. Chapter 5: Managing Existing Positions and Working Orders. Copyright 2012 Trade Networks. All rights reserved. Page 50
5.4 Managing Your Positions and Working Orders via the My Portfolio Panel The My Portfolio panel provides you with detailed information regarding all your existing and closed trades. This enables you to easily and effectively manage multiple positions and entry orders which haven t been executed yet. In addition, you can use the My Portfolio panel to access the Position Details and the Entry Orders Details windows which allow you to modify all your positions and orders. Chapter 5: Managing Existing Positions and Working Orders. Copyright 2012 Trade Networks. All rights reserved. Page 51
5.4.1 Managing Your Open Positions Clicking the Open Positions tab in the My Portfolio panel will display all your open positions, including executed entry orders. The Open Positions tab displays the rate of each symbol at the time the position was opened, the symbol s ID, the size of your trade, the direction of your trade (buy/sell), the current market rate the SL/TP rates. You can also view the open P&L which is calculated according to the updates of the exchange rates. To view more detailed information on your open positions, double click the symbol row or left click the symbol row and then click Details. The Position Details window appears. You can also use this window to modify your open positions and limit orders. For more information, see Section 5.1 Modifying Open Positions as well as Section 5.2 Modifying Entry Orders. In addition, you can view the Open positions details in a floating rectangle. Simply place your cursor on the symbol and the Information bubble will be displayed. Chapter 5: Managing Existing Positions and Working Orders. Copyright 2012 Trade Networks. All rights reserved. Page 52
5.4.2 Managing the Exposure of Your Trades PROfit calculates Net value as long positions minus short positions. Clicking the Exposure tab will display a grid with all your positions sorted by symbol. The Exposure tab displays the number of all positions currently open for a particular symbol, the total size of your trades for the same symbol (Net Value), the Open P&L, and the average rate of all open positions for this symbol. To close symbol positions, double click the position row; the Close Symbol Position window is displayed, allowing you to choose which symbol position to close. For more information, see To Close Symbol Positions in Section 5.3 Closing Positions. Chapter 5: Managing Existing Positions and Working Orders. Copyright 2012 Trade Networks. All rights reserved. Page 53
5.4.3 Managing Your Entry Orders Clicking the Entry Order tab will display a grid with all your entry orders that haven t been executed yet. The Entry Order tab displays the order s execution rate, its ID and the SL, TP and OCO rates. To view more detailed information on your entry orders, double click the symbol row or left click the selected symbol and then click Details. The Entry Order Details window appears. You can also use the Entry Order Details window to modify your entry and limit orders. See Section 5.2 Modifying Entry Orders for more information. Chapter 5: Managing Existing Positions and Working Orders. Copyright 2012 Trade Networks. All rights reserved. Page 54
5.4.4 Managing Your Closed Positions You can search your closed positions by their opening and closing dates. To view the details of all your closed positions 1. Click the Closed Positions tab; the list of all your closed positions is displayed in the grid. 2. Limit your search by selecting the position s Open Date or Close Date option from the provided dropdown list. 3. Specify the date and time range of the period for which you want to view the details. 4. Click Show; the selected symbols are displayed in the grid. To view more details about the position, both at its opening and closing times, click + in the symbol row. The + will be changed to and an additional row, with further information, will open as show below: In addition, you can view more detailed information on your closed positions via the Position Details window. To open a Position Details window, double click the selected symbol or left click the selected symbol and then click Details. The Position Details window appears. Chapter 5: Managing Existing Positions and Working Orders. Copyright 2012 Trade Networks. All rights reserved. Page 55
5.5 Displaying Your PROfit Account Summery Report A PROfit Account report allows you to generate your PROfit account statements. At any point, you can view print and export your account summery information in PDF or EXCEL format. The Account Summary Report includes: Account Status as well as account financial summary information. Closed and open position details. Entry order details. The account information will be presented based on the time range you specify. To display, print and export your PROfit Account Statement report 1. In the My Portfolio panel, click the Account Statements tab. To include today s activities in the report you need to specify tomorrow s date in the To list. 2. Define the time range for the report by clicking and selecting the desired dates from the From and To lists. Alternatively, you can simply type the dates in the From and To text fields. 3. Click Run Report; your PROfit account statement report is displayed. 4. Click Print, if desired. 5. If you want to export the report, select the desired format from the Export to dropdown list, and then click Export. Chapter 5: Managing Existing Positions and Working Orders. Copyright 2012 Trade Networks. All rights reserved. Page 56
5.6 Displaying Your Trading History Report The Log panel enables you to view, print and export your account history in PDF or EXCEL. You can use the account history to evaluate the effectiveness of your trading strategy for a specified period of time. The Account history is a detailed database containing information on all the trading operations you have performed. The report might include information on the following: Open and closed positions, entry orders, P&L etc. Account status, such as deposit, withdrawal, bonus, credit, transfer etc. The account history will be presented based on the time range, the action type and the performer you specify. To view the Account History To include today s activities in the report you need to specify tomorrow s date in the To list. 1. In the Log panel, specify the date and time range of the period for which you want to view your account history. 2. Filter the display of your grid by Actions or by Action Performers. To do this, click the filter icon which is next to the Action or Performed By titles, accordingly; the pop up window is displayed. 3. Choose the desired filter criteria in the provided filtering options and click Search; the selected symbols are displayed in the grid. 4. Click to close the pop up window. 5. Click Print, if desired. 6. If you want to export the report, select the desired format from the Export to dropdown list, and then click Export. Chapter 5: Managing Existing Positions and Working Orders. Copyright 2012 Trade Networks. All rights reserved. Page 57
6. Using the Chart Tools PROfit provides advanced chart tools allowing you to make simple to complicated market analysis. You can easily display all your desired symbols as chart lines in the Chart panel. This can help you to better analyze the market movements and to predict more accurately where the market will go. You can use various helpful tools to adapt the view of the chart to your needs. For instance, you can modify the chart s axes, display additional information on your chart, draw on your chart, change the type and the color of the chart objects, etc. The Chart tools allow you also to open positions, place different types of orders and manage them in the Chart panel. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 58
6.1 Displaying a Symbol on the Chart To view more than one symbol on your chart, you can use the Chart World option. For more information, see Section 6.2 Adjusting the Chart Display Using the Chart World Option. By default, you can view only one symbol on your chart. The Symbol ribbon which contains four tabs, allows you to easily switch between symbols displayed on your chart. You can display different Symbols under the tabs, as well as to display the same symbol under all four tabs, only with different settings. For example, if you want to use different tools for the EUR/USD market analysis, you can display the EUR/USD symbol under all four tabs. To define which Symbol will be displayed under each tab, follow one of the following methods: Method A 1. Click the tab under which you want the symbol to be displayed. 2. Click the Symbol button; a list with all available symbols appears. 2. Search the desired symbol by using the scrolling bar or by pressing the first letter of the symbol s name on your keyboard. 3. Click the desired symbol; the selected symbol is displayed under the current tab. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 59
Method B 1. In the Charts panel, click the tab under which you want the symbol to be displayed. 2. In the Quote box, from the Quotes menu, choose the Show as Chart option, as shown below: Alternatively, you can simply click the symbol title and drag it into the Charts panel. The selected symbol is displayed under the selected tab. Method C 1. In the Charts panel, click the tab under which you want the symbol to be displayed. See Section 6.11 Saving Your Chart for more information. 2. From the File menu choose Load; the Load dialog box appears. 3. Select the desired chart file from the list. 4. Click OK to confirm; the selected file opens under the clicked tab. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 60
6.2 Adjusting the Chart Display Using the Chart World Option The Chart World button is at the top left side of the Chart panel. You can use this option to view all of your charts in four separate windows. Generally, you can use the Chart World option to display unlimited amount of symbols as charts in separate windows at the same time. To switch between them, simply click the desired symbol chart tab at the taskbar. To display all four charts in new windows 1. In the Charts panel, click the Chart World button. Alternatively, in the Quotes panel, click the Menu and choose the Chart World option; the four charts are displayed in a full screen. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 61
6.3 Setting up a Chart You can set up the chart by modifying its line type as well as by adjusting the number of records and the timeframe. This way you can easily adapt the view of the chart to your current needs. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 62
6.3.1 Selecting a Chart Type You can change the view of your main symbol chart by choosing one of the following chart types: Line chart, Candlestick chart, OHLC Bar chart, HLC Bar chart, Mountains chart and Histogram chart. The chart colors can be changed. For more information, see To change the color and the style of a chart line in Section 6.6 Changing the Color and the Style of Your Chart Elements. Line chart When you open the Charts panel for the first time, the chart type which is applied to the symbol displayed is the Line chart. In this chart type, the close prices of the symbol are plotted as a continuous green line. Candlestick chart In this chart, the open, high, low and close prices of a symbol are plotted as candlesticks. The candlestick s body is drawn between the open and close prices, an upper shadow (High) and a lower shadow (Low). By default, the body is colored with green if the close price is higher than the open price and with red if the close price is lower than the open price. If the open and close prices are equal, the candlestick has no body and just a horizontal line is displayed. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 63
Bar chart (OHLC) In this chart, the open, High, Low and close prices of the symbol are plotted as bars. The High and Low prices are at the upper and lower boundaries of a bar. The open price is shown at the left side of the bar, and the close price at the right side. Bar chart (HLC) This chart type is almost identical to the OHLC bar chart, except that it doesn t show the open prices. Mountains chart In this chart, the close prices of the symbol are plotted as a continuous line. The area between the price line and the zero line of the chart is filled with a transparent color. Histogram chart In this chart, the close prices of a symbol are plotted as vertical columns. This chart type offers the same information as a line chart in a different visualization. In addition, if the open and close prices are equal, the body is colored with blue. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 64
There are two methods to change the Chart type: Method A 1. From the Chart Type menu, choose one of the provided chart types, as displayed: The new chart type applies only to the current tab. The chart type is modified. Method B 1. Click on the symbol button; the Symbol box appears. 2. Select a chart type from the Chart Type dropdown list and click OK; the chart type is modified. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 65
6.3.2 Selecting a Time Frame When you open PROfit for the first time, the main symbol displayed in the chart is measured in intervals of five minutes. You can change the amount of time shown in the chart by choosing one of the time frames within the range between a Tick-by-Tick and a Year. For example, the following graphs provide a snapshot of symbol movements over different periods of time. The number of records remains unchanged (50 records). Time frame: 5 min Time frame: 30 min To change a time frame 1. From the Period menu, choose the desired period of time, as displayed: The view of the selected chart is modified accordingly. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 66
6.3.3 Selecting the Number of Records When you open PROfit for the first time, the number of records displayed on the chart is 50. You can change the number of records to 100, 200 or 510. For example, the following graphs provide a snapshot of symbol movements with different number of records. The time frame remains unchanged (five minutes). 50 records 200 records To change the Number of Records 1. From the Number of Records menu, choose the desired number, as displayed: The view of the selected chart is modified accordingly. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 67
6.4 Displaying Additional Information on the Chart Profit allows you to display additional information regarding the symbol which is displayed on your chart. This can help you to better understand the symbol movements as well as to compare between different symbols. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 68
6.4.1 Displaying the Maximum and the Minimum Values The Maximum and the Minimum values represent the lowest and the highest bid prices that are currently displayed on your chart. You can view the Maximum and Minimum values at the top and at the bottom of your chart screen. The Maximum and Minimum values depend on the time frame, the number of records and the time range you define in the History area. For example, the following graphs provide a snapshot of the main symbol movements over different periods of time. The number of records remains unchanged (50 records). As you can see, despite that Max values in both figures are related to the same date (01.10.12) they are still not the same. That is because they were recorded at different time points: the first chart represents the exchange rate recorded at 13.00 while the second chart represents the rate at 20.00. Time frame: 30 minutes. The Max value: 1.2800 (01/10/12 13:00) The Min value: 1.2741 (01/11/12 01:00) Time frame: 15 minutes. The Max value: 1.2786 (01/10/12 20:00) The Min value: 1.2741 (01/11/12 01:15) To show/hide the Maximum and the Minimum values 1. From the following dropdown list, choose the Show Min/Max option, as displayed: The Maximum and Minimum values are shown / hidden from the chart. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 69
6.4.2 Displaying the Percentage Price Scale When you open PROfit for the first time, a linear price scale (Log) is displayed on the Y-axis. To compare the performance of several symbols, you can set their Y-axis to a Percentage Price Scale. On this scale, the 0% represents the first loaded close price. As you can see in the following figures, the symbol s view remains unchanged despite that the Y-axis scale has been modified. Y-axis displays the Linear price scale (Log) Y-axis displays the Percentage Price Scale ` To define the Y-axis type 1. From the following menu, choose one of the Y-axis types, as displayed: The Y-axis is modified accordingly. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 70
6.4.3 Displaying the Grid Lines When you open PROfit for the first time, the vertical and horizontal grid lines are displayed in the chart. The density of the lines depends on the number of records and the time frame that you define. The more the time frame is extended, the higher the density will be. For example: the following graphs illustrate how the density is adjusted to match different time frames. Time frame: one minute. Time frame: 30 minutes. To show/hide the grid 1. From the following menu, choose the Show Grid option, as displayed: The Grid is shown/hidden from the chart. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 71
6.4.4 Displaying the Trading Volume Volume is the total value of contracts traded during a specified time frame (e.g., hour, day, week, month, etc). You can view the volume as a chart line in the Volume panel which can be displayed below the symbol chart. You can use the Show Data option to view the Volume value in a separate data info box. See Section 6.4.5 Displaying the Data Information Box for more information. To Show/Hide the Volume Panel 1. From the following menu, choose the Vol option, as displayed: The Volume panel is shown/hidden from the chart. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 72
You can use the volume box to indicate in which panel the Volume will be inserted. The Volume can be shown in the main panel together with the main symbol, or in a new panel below the main symbol panel. In addition, the Volume box allows you to modify the view of your volume line in the panel by adjusting its color and type. You can also define the volume s parameter within this box. To modify the volume line Removing the Volume Panel You can remove the Volume panel from the chart by simply clicking the X button next to the Volume arrow, as displayed: 1. On the Charts panel, click the Volume arrow, as displayed: The Volume box opens: 2. Under the Params tab, adapt the parameters of the volume by clicking on a desired value and editing it. 3. From the Panel list, select a panel into which the volume will be inserted. 4. Under the Style tab, from the Type list select the volume s chart type and from a palette, select its color. 5. Click OK to confirm; the volume is modified Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 73
6.4.5 Displaying the Data Information Box A Data Information box is a flowing box which contains additional details regarding symbols and indicators that appear in the chart. When hovering the mouse over a data point on a chart, the relevant information will be displayed in the Data Information box. To show/hide a Data Information box 1. From the following menu, choose the Show Data Info option, as displayed: The data info box is shown/hidden from the chart. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 74
6.4.6 Displaying the Crosshair Tool You can use the Crosshair tool to gauge accuracy in viewing the current mouse position. The exact mouse position is indicated in labels appearing on the axis. To show/hide the Crosshair Cursor 1. From the following menu, choose the Show Crosshair option, as displayed: The Crosshair Cursor is shown/hidden from the chart. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 75
6.4.7 Displaying the Chart History PROfit provides you with varies tools to view your chart history: You can change the view of your charts by modifying the number of records. See Section 6.3.3 Selecting the Number of Records for more information. You can change the view of your charts by modifying the time frame. See Section 6.3.2 Selecting a Time Frame for more information. You can use the icons to zoom in and out of your chart. Alternatively, you can click the chart panel and use the scroll wheel of your mouse to zoom in and out of your chart. You can use the icon which is in the Side toolbar. To modify the time frame for your symbol chart, first click the icon. Next, click the chart, hold the mouse button down and drag the chart left or right. The time limit is modified accordingly. You can view a symbol history via the History Panel. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 76
Using the History Panel The History Panel allows you to define a period of time within which you can view the symbol s movement. To open the History panel and view your chart history 1. From the following menu choose the Show History option, as displayed: The History panel appears along the bottom of the chart screen, displaying the section that is currently visible in the main symbol chart. The range which is about to be displayed on the chart is colored in blue, while the rest of the range, is colored in steel blue. 2. Define the specific date range by clicking the arrow in the date box and choosing dates from the calendar displayed. 3. Define the specific time range by dragging the handles on the left and the right side of the highlighted section in the history panel. You can hide the History panel by clicking the Show History toggle button. The X axis is modified to display the Chart s history within the date range you defined. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 77
6.5 Drawing on the Chart PROfit provides you with various drawing tools which help you analyze symbol movement. You can draw on your chart using different types of lines, geometric shapes and other effective tools. You can also add notes to your chart in order to indicate important turning points in market movement. All drawing tools can be easily accessed via the chart s Sidebar. The menus in this sidebar contain simple to advanced options allowing matching the chart to your personal needs. You can use these options to modify the view of your drawing by changing their color and width, as well as location and size. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 78
6.5.1 Adding Lines to a Chart You can add three types of lines to your chart: the Trend Line, the Horizontal Line and the Line Channel. The Trend Line The Trend Line helps you to mark significant trends and developments on your chart. The Line Channel You can use the Line Channel to project price targets. A line channel essentially consists of two parallel trend lines that surround the trending time series. When drawing the line channel, you can make the price action be completely within the channel. You need three reference points to draw a line channel on the chart. The Horizontal Line You can use the Horizontal Lines to indicate the resistance and support levels. You need one reference point to draw a horizontal line on the chart. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 79
To add a Line 1. From the following menu, choose the desired line type. 2. Depending on the line type you want to draw, do one of the following: - - To draw a Trend Line, click on the chart at the first reference point of the line and hold the mouse button down. Next, move the mouse pointer to the second reference point of the line and release the mouse button. The line is displayed. To draw a Horizontal Line, click once on the chart at the price level where you want the line to appear. The line is displayed. - To draw a Line Chanel, click on the chart at the first reference point of the line and hold the mouse button down. Next, move the mouse pointer to the second reference point of the line and release the mouse button; the first line is displayed. Finally click on the chart to define the distance of the second line from the first trend line. The second line is displayed parallel to the first line. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 80
6.5.2 Adding Geometric Shapes to a Chart You can add a rectangle or a circle to mark significant areas on the chart. You need two reference points to draw a geometrical shape on the chart: Circle When drawing a Circle, the first point is positioned at the midpoint of the circle and with the second one you choose its size. Rectangle When drawing a rectangle, the first point is positioned at the top-left corner of the rectangle and the second one at the bottom-right corner. To add a geometric shape to a chart 1. From the following menu, choose the shape you want to add, as displayed: 2. Click on the chart at the first reference point of the shape and hold the mouse button down. 3. Move the mouse pointer to the second reference point of the shape and release the mouse; the shape appears on the chart. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 81
6.5.3 Adding Text to a Chart You can use the Add Text option to label your drawings on the chart, to add comments etc. You can also modify the style of your comments by defining their color, size and font. To add Text: Removing a Text You can remove the text from the chart by clicking Delete in the Add Text box. 1. Click the Add Text (the A icon), as displayed: Changing the Style of the Text You can change the style of the text by clicking it and changing its style definitions in the displayed Add Text box. 2. Click on the chart where you want to place the text; the Add Text box appears. 3. In the text box, enter the text and define its style and color. 4 Click OK to confirm; the text appears on the chart. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 82
6.5.4 Adding Up and Down Arrows to a Chart Adding up and down arrows to a chart can help you highlight rises and declines in market rates. By default, the up arrows appear in green while the down arrows appear in red. To add an arrow to a chart 1. From the Arrow menu, choose the Up or Down arrow option, as displayed: 2. Click on the chart where you want to place the arrow; the arrow is displayed. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 83
6.5.5 Adding the Standard Deviation Channel to a Chart You can use the Standard Deviation Channel to determine where a "balancing point" lies. The "balancing point" is the point towards which the prices tend to be drawn. The Standard Deviation Channel consists of three parallel lines. The middle line shows the linear regression trend between two reference points. The other two lines are drawn at the distance of one standard deviation away from the linear regression trend line. To add the Standard Deviation Channel 1. From the following menu, choose the Standard Deviation Channel option, as displayed: 2. Click on the chart at the first reference point of the Standard Deviation Channel and hold the mouse button down. 3. Move the mouse pointer to the second reference point of the Standard Deviation Channel and release the mouse button; the Standard Deviation Channel is displayed. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 84
6.5.6 Using the Fibonacci Drawing Tools You can use one of the four Fibonacci Trend Lines provided to forecast points of support or resistance. These helpful tools create support resistance lines at the Fibonacci levels of 23.6%, 38.2%, 50%, 61.8% and 100%, etc. Fibonacci Fan Using the Fibonacci Fan can help you to forecast support levels or a possible descending trend. Fibonacci Vertical Retracement This tool is extremely useful when the market experiences a significant amount of movement. You can use the Fibonacci Vertical Retracements to project a certain base period of time into the future. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 85
Fibonacci Retracement After a significant price movement up or down, you can use the Fibonacci Retracement to forecast where stops or losses may be placed. The new support and resistance levels might be at or near these lines. Fibonacci Arc You can use the Fibonacci Arc to measure the different retracement levels within a market. This tool allows you to create arcs at key Fibonacci levels between two price points on a chart. To add a Fibonacci Trend Line: 1. From the following menu, choose the desired Fibonacci drawing tool, as displayed: 2. Click on the chart at the first reference point of the Fibonacci line and hold the mouse button down. 3. Move the mouse pointer to the second reference point of the Fibonacci line and then release the mouse button; the Fibonacci line is displayed. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 86
6.5.7 Using the Andrews Pitchfork Drawing Tool Andrews Pitchfork consists of three parallel lines. You can use Andrews Pitchfork to draw a channel of support and resistance lines, along with a middle line. To draw Andrews Pitchfork: 1. From the following menu, choose the Andrews Pitchfork option, as displayed: 2. Click on the chart at the first reference point of the Andrews Pitchfork and hold the mouse button down. 3. Move the mouse pointer to the second reference point of the Andrews Pitchfork and release the mouse button; the Andrews Pitchfork is displayed. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 87
6.5.8 Removing Drawings from the Chart You can remove from your chart one drawing object at a time, or remove several drawing objects at once. To remove a single drawing object Cancelling the delete option You can cancel the delete option by clicking on any other drawing tool. 1. Left click the drawing object; the following pop up box appears: 2. Choose Delete; the object is removed from the chart. To remove several drawing objects 1. Click the Delete icon, as displayed: 2. Click the drawing objects one by one; the objects are removed from the chart. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 88
6.6 Changing the Color and the Style of Your Chart Elements You can modify the view of both the symbols and the drawing objects. To change the color and the style of a chart line 1. Click the Symbol button; The Symbol box appears: Depending on the chart type, different color and line settings are available. 2. Click the Line icon and select the line style from the list displayed. 3. Click the color icon; the color pallet is displayed: Choose the color you want; the pallet is hidden. 3. In the Symbol box, click OK to confirm; the color and the style of your chart line are modified. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 89
To choose the color before drawing an object 1. Click the Color icon, as displayed: The color pallet appears. 2. In the color pallet choose the color you want; the pallet is hidden. From now on, each object you draw will appear colored with the color you chose. To change the color and the line style of an existing drawing object 1. Left click the drawing object; the following box appears: 2. Choose Edit; the object s box appears: 3. Click the Color icon and select the color from the pallet. 4. Click the Line icon and select the line style from the list. 5. Click OK to confirm; the object is modified accordingly. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 90
6.7 Trading From a Chart PROfit allows you to place, edit and close positions and entry orders directly from charts. To open a Position 1. In the Charts toolbar, click the New Trade button. Click anywhere in the chart; the Open Position window is displayed. 2. Follow steps 2-4 from Section 4.2.1 Opening a Position in the Confirm Mode. To place an Entry Order 1. In the upper toolbar, click the New Trade button. 2. Click somewhere in the chart; the Open Position window is displayed. 3. In the Open Position window, choose Entry Order from the Type drop down list; the Open Position window is expanded to the Open Entry Order window. 4. Follow steps 2-6 from Section 4.3 Placing an Entry Order. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 91
By default, all your trades can be represented as lines in the related symbol chart; the open positions can be represented by white trading lines while the entry orders can be represented by blue trading lines. You can hide all your positions or/and entry orders by clicking Show/Hide Open Position and Show/Hide Entry Order toggle buttons, accordingly. Show/Hide positions and entry orders toggle buttons. Hovering over the trading line will display a pop up box containing information regarding the current position or entry order. + To Modify your Open Positions via the Chart 1. Double click on the open position s white trading line; the Position Details window is displayed. 2. Follow steps 1-4 from Section 5.1 Modifying Open Positions. To Modify your Entry Order via the Chart 1. Double click on the open position s white trading line; the Position Details window is displayed. 2. Follow steps 2-6 from Section 5.2 Modifying Entry Orders. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 92
6.8 Managing Indicators in the Chart Using Indicators can help you to forecast the market movements. Indicators visualize the available data in a different way so that you can interpret it more easily. PROfit provides you with approximately 150 indicator types which you can add to your chart. Indicators will appear either in the chart or in an indicator panel below the chart. One of the most widely used Indicators is the MACD. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 93
To Add an Indicator to a Chart Changing the Properties of an Inserted Indicator You can change the indicator s properties by clicking its name on the chart and changing its style and Parameters settings in the dialog displayed. 1. Click the Add Indicator icon, as displayed: The Add indicator dialog box opens: 2. In the Add Indicator dialog box, click on the indicator that you want to insert. You can search for an indicator by typing its name into the search field on top. Removing an Indicator from the Chart You can remove the indicator by clicking the X button next to the indicator s name, as displayed 3. Under the Params tab, adapt the parameters of an indicator by clicking on a related value and edit it. The selections available here depend on what the indicator is. 4. In the Style tab, adapt the colors and line styles of the indicator by choosing them from the dropdown lists and palettes provided. The selections available here depend on what the indicator is. 5. Choose into which panel the indicator will be inserted. Indicators can be shown in the main panel together with the main symbol, or in a new panel below the main panel. 6. Click OK to confirm; the selected indicator is added to the chart. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 94
6.9 Moving and Resizing Chart Elements You can use the Move pointer to move your drawing objects and the Resize pointer to resize them. To Move a Drawing Object 1 Move your mouse pointer to the edges of the drawing object; the mouse pointer turns into the Move Pointer. 2. Click the drawing object, hold down your left mouse button and drag the object to the position you want. 3. Release the mouse button; the object is relocated to a new position. To resize a drawing object 1. Click on the drawing object; blue squares appear on your drawing. 2. Place your mouse pointer over one of the blue squares in the drawing; the mouse pointer turns into the Resize Pointer. 3. Click the drawing object, hold down your left mouse button and drag the shape to the position you want. 4. Release the mouse button; the drawing object is resized. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 95
6.10 Managing Chart Templates You can create and save customized chart settings as a template for future use. A template stores the same information as a chart, but removes the main symbol and any object created with drawing tools (e.g. trend lines). To save a chart template 1. From the File menu choose the Save Template; the Save Template dialog box is displayed. 2. Select a filename from the list provided, or type a new filename into the Name text field. 3. Click OK to confirm; the template is saved under the current filename. Deleting the Chart Template You can remove a saved template both from the Save Template and from the Lode Template dialog boxes, by simply selecting the desired template and clicking Delete. To load a Chart Template 1. From the File menu choose the Load Template; the Load Template dialog box is displayed. 2. In the Load Template dialog box, select the desired template and click OK; the template is loaded. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 96
6.11 Saving Your Chart Generally, the chart settings that you defined before exiting the PROfit platform are saved as default settings and are loaded the next time you login to your PROfit account. If you still want to save your chart as a file, you can use the Save As and the Save options. To save a chart for the first time Loading a Saved Chart File For more information, see Section 6.1 Displaying a Symbol on the Chart, method 3: Use the Load Option. Deleting a Chart File You can remove a saved chart both from the Save As and from the Load dialog boxes, by simply selecting the desired chart and clicking Delete. Renaming a Saved Chart In the Save As dialog box, select the desired file and type its new name into the Name text box. Click OK. 1. From the File menu choose Save As; the Save As dialog box is displayed: 2. Select a filename from the list provided, or type a new filename into the Name text field. 3. Click OK to confirm; the chart is saved under the current name. Once you save the chart for the first time, you can overwrite it again and again by simply clicking the Save option from the File menu. Chapter 6: Using the Charts Tools Copyright 2012 Trade Networks. All rights reserved. Page 97