Trading from a chart enables you to place and edit orders directly on a chart
Charts trading is generally considered to be a flexible and instant way of trading the financial markets or your chosen instrument
The xStation trading platform allows you to set pending orders directly from the chart or in the order window.
Setting a pending order from the chart is followed by the opening of an order window with all the parameters set previously on chart.
The xStation trading platform has been designed to make trading easier for you, enabling you to set pending orders directly from the chart without the necessity of opening a new order window and setting all the parameters manually.
In order to start trading from the chart you should first press the button found in the top-left corner of the screen (highlighted in the example above by a white box). After doing so, move the mouse cursor on the chart so that you can select a level where the pending order will be opened.
Once you’ve chosen the price level of your pending order, you can select Stop Loss or Take Profit orders above or below your level.
Looking at the example, the 41.96 price level has been chosen to set a pending order. The Stop Loss level has been chosen at 45.50 and the Take Profit level has been chosen at 32.28. Because the Stop Loss was chosen above the level where the position will be opened, the system automatically determined that it would be a Sell Stop pending order.
After setting the pending order from the chart, a full order window with your chosen parameters will open. If you would like to make some modifications, these are possible in the newly opened window.
If you would like to set the pending order, then you should click on the “Sell Stop” button, because that is the transaction type that was set.
Learn more about the different types of pending orders here.