Entry Orders

Entry orders can be used if you wish to enter a buy/sell order at a predetermined price. Once the price is reached, the VT Trader will execute the order at the price specified.

You can right-click on the chart at the point where you would like the Entry Order to execute; a dotted line will appear on the chart indicating the entry price. (You don’t have to be exact, as you will be able to edit the Entry price in the next step.)

If below the current market rate, you can either enter an EntryStopSell for going short (selling) once the price falls to the target level, or an EntryLimitBuy for going long (buying) once the price falls to the target level.

If above the current market rate, you can enter an EntryStopBuy for going long (buying) once the price jumps to the target level, or an EntryLimitSell for going short (selling) once the price jumps to the target level.

Let’s try one for ourselves.

Step 1

Select any point above the current market and right-click with the mouse button. Select EntryLimitSell. An EntryLimit window will appear

Step 2

Here you can edit the entry price, or leave it as is. Let’s leave it where it is and enter one mini-lot (0.1) in the Amount field.

Step 3

Next we can adjust the Duration that the Entry order will be active. You can choose between:

GTC: “Good ‘til Cancelled”. This means the order will always remain active unless you remove it yourself.

DAY: Day order. This means that the order will remain active for only the length of the day. If the day ends without the market touching the target price, the order will automatically be cancelled.

Let’s leave it as GTC.

Step 4

On the Entry Order window, you can easily bundle a Stop and Limit to your order. You can choose to uncheck this feature, and only the entry order will then be entered. Let’s enter both a stop and a limit the same way we did for our original market order earlier in the guide.

Step 5

Click OK to accept the Entry Order, and OK again to confirm.

Your new Entry Order will appear on the chart as a horizontal blue line running through the target price, and indicated by a dark-green banner.

The stop and limit for the Entry order will also be displayed, and can be adjusted the same way our previous market order stops and limits were.

You can adjust the Entry order’s target price by left-clicking and dragging its blue horizontal line wherever you wish. The Entry order’s properties can also be adjusted by right-clicking on the Entry order’s banner and selecting Change.

You can also remove the Entry order at anytime by right-clicking on the banner and selecting “Remove”.