The deal ticket is where you can open, close and amend trades. It’s simple to use, but there are a lot of features that can help to empower your trading. Read on for a guide to the deal ticket in detail.
Placing a trade
To open the deal ticket, click the name of any market you’d like to trade.
- The first box to fill in will be the size of the trade, listed in your chosen currency for spread bets or number of contracts for CFDs.
- The margin requirement for your trade is listed at the bottom of the ticket.
- Live prices for the market are listed on the buy and sell buttons. You can click ‘buy’ to place a long trade, or ‘sell’ to place a short one.
- ‘Force open’ enables you to open a position that works against a position you currently have open. If you leave it unticked, those positions will cancel each other out.
Use ‘close conditions’ if you’d like your trade to close automatically when your market hits a specified level.
- Adding a stop will close your trade at a specified point that is less favourable than the current price.
- Adding a limit will do the opposite, locking in profits when the market hits a price more favourable than the current one.
- Adding a guaranteed stop puts an absolute limit on your risk, so that your stop will still trigger at the price you specified, even if the market gaps (basic stops will trigger the trade at the next best level). Because of this, guaranteed stops will incur a charge if triggered.
Order to open
The ‘order to open’ tab can be used if you want your position to open automatically when certain conditions are met. To set an order to open:
- View the current price of your market in the ‘current level’ boxes, and decide which direction you’d like to trade in.
- Set the size of your position.
- If you’d like to set an expiry date for your order, do so under ‘time in force’.
- Set any close conditions, just as you would on a normal order.
‘Advanced options’ are designed for experienced traders, to increase the chances of an order being filled in illiquid or volatile markets.
- ‘Accept partial fill’ means that we’ll fill as much of your order that we can at the price you requested, and cancel the rest.
- ‘Points through current’ means that we won’t reject your order if our price moves within the range you set as you click to deal.
- ‘Market order’ means that we’ll fill your order at the best price available, no matter how far that is from your requested price.