Original subtitles

check out but this is just kind of quite a bog industry

are some other platforms and that are a lot more modern such

exit trades let's just say we wanted to exit this position

back to the trade and this is what your remaining trade

then happened and then this is showing that that two lots that

can download scripts that will kind of help you do a few more

right you can obviously just manually click there as well

standard that a lot of people use so yeah I just thought you

initially but we cancelled it right so that's why nothing

then if you go into account history here you can see those

much wraps up MT4 as always if you have any questions please

feel free to drop them in the comments below or hit us up in

know for for the sake of a tutorial this would be the

is you know MT4 is not the only trade execution platform there

would be two lots and then you click close right and that will

own you know pretty decent web platforms as well which you can

of the basic way in which you can manually out your trade so

and then boom you're out of the trade okay yeah so that pretty

easiest platform to to show how you can yeah enter modify and

execution point of view using MT4 there are plugins that you

we just closed where it was for a $6profit right so then we go

trade and that's pretty much kind of everything I want to

close out 20% of the volume of your trade so now you only have

the notes below the video another thing I'd add as well

when we look at that but that's just so you can understand kind

do this as we get later on into the management side of things

cover from a very basic market for a very basic trade

as C trader and and a lot of their own brokers have their

later date in the course but I will link those those below in

volume is on here yeah and that's how how you're in the

the volume this is where you would go in and you put in the

into into multiple trades you can have sort of more advanced

what you would do is you would click into here where it says

out a a partial amount of the volume so it's a 10 lot trade

you're in the trade what you can do is if you want to close

in the price or maybe you know you want like a five pip stop

drag that down let's see yeah now you've got a bang on five

pip stop loss in there and now you are in the trade okay now

you want to put your stop loss you can either do that and type

trades that we have executed so we had that Bylam order

pips away from the current price level now you have that

and let's just say we wanted to instantly get long at the ask

modify order and if you go to market execution right now

you can obviously if you want exactly five pips right you can

eight lots running so you obviously understand why we'll

advanced features especially with spitting out your trades

so you can see the the trade is running in $40 profit, but the

actually close the trade here so you can you can kick the X

can double click to open up the trade window again and then

to enter at market you can click buy or sell here or what

click copy that would put that in there which would be five

we'll do is an at market trade just to get in the position so

it done at about 4. 8 pips from where you've entered and then

active that will not change or your changing is where your

profit order right so if you are tagged in the trade and

live in the market and we are running a little bit of profit

profits the way you can do that once you're in the trade in

bigger and of course you can you know make it smaller as

fact what I'll show you is let's get into a trade and what

turn on one click trading which is here right so you can press

but we are actually net down because of the commission okay

amount of lots that you want to close out so 20% of 10 lots

passing techniques but again we'll talk about this at a much

do that right you're not changing the lot size of your

let's say you know for whatever reason we want to close 20% of

five pips stop loss okay shows you your risk there it's done

you out the trade and you can see for a $1, 200 profit and

you would move it up to your your break even level sorry

eventually move it to break even right if you're in a trade

if you want to do partial profits what you can do is you

you're only intended to risk $400 but if you make your stop

want to add in a tape profit you can just double click on

loss then you would put in that's 50 points then you would

bigger then what I would recommend you do is you

change it but just remember that when you do that and you

ideally not hit our stop loss right and then continue up in

the the order will be cancelled but I don't typically tend to

you can also do which is a little bit quicker is if you

orders so this is where you if you're buying price will be

you can either like I said go into trading right click and do

loss wider you're now risking 520 as you can see right with

that means you're going to have more dollar risk right so maybe

want to buy somewhere down here right and then we can put in

go in there and you would want to modify the order and

at the market but you only obviously need to put in your

the two pip stop loss so if you do want to make your stop loss

lot size for that larger stop loss okay so that's just

four pips and that's your risk with 10 lots over four pips

trades see down here it says your lot size that you have

commission to enter the trade cost $70 so we are net $20 down

right that's what's in the trade but remember you don't

orders they are it's just for your entry order where you need

here and this essentially is where you can quickly buy range

limit down here so what we would be hoping was going to

orders okay and yeah now if you want to do kind of partial

do that once you're in a trade but I recommend if you're

do a full pip stop loss and we'll leave the take profit

alt T or click this window here you'll get a little pop up up

loss see how it just calls it you'll take profit right TP

either a limit order or a stop order so generally with the

you will need to accept the conditions for one click

that's pretty much how we use limit orders and I want to stop

you will sell at the bid okay and you'll be instantly in the

a new order or click the new order button up there or F9

to understand the difference between market limit and stop

trading okay if this pops up if you haven't done that before

would just click modify and then up here this is your take

stop loss stop loss you need to worry about what types of

lot size up here so let's say we want to get in at 10 lots

right to pull up your order window now if you just wanted

have any stop loss on at the moment so you quickly want to

trade so and again let's say you're in the trade and you

you're running the trade if it comes up to here that will take

price then we would click buy okay as you can see we're now

it's moving around right and that would break even your

something to bear in mind if you do make your stop loss

that in here as well what price level you want the stop to be

well and you know that will reduce your risk and you can

the trade and this is where you can modify the trade so you

button there that will delete the trade and then you'd

want to and then you want to basically start from scratch

could add in a tape profit let's say 1. 1610 and then you

empty for now and then you would click place order and

and put in your new lot size that you would need a smaller

pips so if it says two that's a spread of nought. 2 pips okay

remember and then you make your lots your your stop loss bigger

buy at 1598 so 1. 1598 now this you can put an expiry for when

then you can click new order there or you can press F9 to

that window will at once and then you can obviously drag and

the price at which we want to buy at so let's say we want to

calculator already so let's say that we want to use 10 lots now

stop loss is so if your lot size is staying the same

pair that we want to trade you can put in your lot size here

pending orders there's generally two types there's

account so this shows the spreads here so see here where

that is a $400 risk okay on Euro dollar so what you can do

so hopefully you should have done that in the position size

can put in your stop loss so let's give it 1. 1594 so we can

ask price spreads are very very tight on this raw spread demo

we're going to look at is pending orders so remember for

and then if you want to do a take profit as well but you can

go up to here and click a new order or you can just right

the technical analysis lessons is that we mainly use limit

higher than the level at which you want to buy at so for

see just open up the Euro dollar chart we now have a buy

market so yeah if you do want to stop loss obviously put

just in case the market moves against you pretty quickly but

I don't want to focus on that for now this is purely just

from here is you can drag and move your stop loss like that

has gone through so you can just click okay so here you can

whether you sign up for a demo account or a live account with

been on trading view right you've sized up the trade that

instance we'll put in our buy limit right because remember we

right click any chart you can go down to properties and you

entering a market probably try and put a stop loss in there

a little bit different to this you can obviously go in if you

points so if you see 40 just divide it by ten and that is

that we wanted to get long somewhere down here we've

already sized up on trading view what you can either do is

you want to get in and then you you have gone on your position

click the chart here and go down to two trading here and

your account size right etcetera and you know your lot

risking four pips remember it says 40, but that's essentially

loss it will show you what you're risking so you're

our favor so if you kind of hover your mouse over the stop

is where you'll you'll look into your account and then you

use that and then once you put in your entry order then you

and the ask price there and that that's pretty much it this

with the photo and strategy as you'll learn as we go through

account balance and history and if you go into that tab there

account down here if you haven't done so already so

calculator and you've put in there your your stop loss size

then that successfully tells you that you know your order

happen is price is going to come down tag us into the trade

and you can see that between the difference between the bid

size and now you are ready to enter the market so let's say

pull up this window so Euro dollar that's obviously the

into the market at the current price you'll buy at the ask or

can just drag and drop any pair into the window and it will

if you just click sell or buy that obviously just put you

they didn't actually have a native Mac app but they do now

if you want to see your prior trade so let's imagine you've

populate that pair of course you can flick through the time

frames up here right and you got your bid price you got your

pairs over here as well kind of you want to load those up you

have your your trades will be shown down here and your

about focusing on trade execution so you have your

and obviously they also have the phone apps as well so once

have something that looks like this now your charts might look

you've downloaded that you you can do is and you will have

basically a piece of very horrible looking software

really old school looking software almost like Windows

can start to play around and customize with the settings but

make sure you practice with the demo account to familiarize

actually have a native app for Mac Mac OS if you do if you

both your stop loss and your take profit it's just your

you don't need to worry about the different between you know

yourself with the different types of orders and

2007, but yeah that's essentially MT4 login with your

which is a very execution platform for Trading FX so you

what we're going to do is we're going to take a look at

so you can download that here or whatever platform you're on

can download MT4 from their official website they do now

differences so hopefully all those orders make sense and

and when you need to use the other because nowadays brokers

as they all tend to have you know very slight and nuance

now only need to understand the different types of orders for

when you are entering the market because for your stop

specifically to whatever brokerage platform that you use

setting limits or stops or whatever when you're looking at

exits. Now if you have never really traded before you know

whatever broker you use you can punch that into here and you'll

loss so you don't need to you know remember if it's a buy

it says one or three that's micro pips that's not actually

difference and then likewise for your profit target the

just say stop loss so you don't need to worry kind of about the

intuitive for setting your trade orders so you pretty much

there for you and also you have to put the price but it will

we typically use to enter the market. We just use them for

don't have a Windows system as yeah for for a long long time

stop or a sell stop your broker will just put your stop loss in

of orders are confusing and you know when you need to use one

orders to enter our positions and sometimes you might use a

enter the market the majority of us will be using limit

entries that you kind of need to understand the difference so

sell back your long position to the market now one of the other

be filled at the price level you specified or worse so that

you can be stopped out sometimes for a slightly worse

need to buy back your short position from the market right

the current market price. Stop orders are not something that

loss the broker will pretty much just call it your stop

have made their platforms extremely simple and pretty

executing a trade using a execution platform called MT4

market order you know if you need to just quickly get in at

orders to enter positions but it is just unavoidable with

broker literally just calls it your take profit order you know

your stop loss order will be a sell stop because you need to

likewise if you are in a long position then you want price to

is something just you know bear in mind if you are using stop

stop losses and it's just the cost of doing business you know

but in case it doesn't and you know it keeps going up and it

don't worry of all of these you know slightly different types

price than you had intended. Now with the photon strategy to

keep going up but if it doesn't and it keeps going down then

differences between stop and limit orders is that you can

goes against you then your stop loss is essentially a buy stop

order or better so what that means is that sometimes you can

experience negative slippage on stop orders so you will either

the current market price so with these orders you are

for a sell limit you can get slipped so that you're selling

order because if price keeps going up against your short

you in but then the price will keep going in that same

buy at a specified price or worse above the current market

hoping that price will come up or down to your level and tag

position you will be stopped out with a buy stop because you

always be using a stop order for your stop loss so if you

direction now both limit and stop orders are used by traders

at an even higher price which is ideal now the other type of

are in a short position you obviously want price to go down

depend on your strategy of how you wish to enter the market

price or you sell at a specified price or worse below

to enter positions some traders will only use limit orders some

price well because you are buying this actually works in

however whether you are already in a long or in a short

will only use stop orders and some will use both it can

your favor right because you have now bought in at an even

price then there are a couple of options that you can use.

position no matter what your strategy is you will always

you hope that price will come up to your order tag you in and

lower than where the current market price is trading at. So

slips you a little bit so you actually get filled at a lower

lower price which is obviously a good thing right so the same

The first is a limit order which is where you buy or sell

have a buy limit and price comes down to your order but it

current bid price. Now if a trader wants to enter the

order is called a stop order and a stop order is where you

should be guaranteed by your broker to be filled and

execute trades in the market and the most basic order is

current market price. So if you set a buy limit order then you

are setting an order to buy the instrument at a price that is

experience slippage but it's in your favor so let's say you

current ask price and if you wants to instantly you know

then reverse back down in your favor now with limit orders you

going to come down to that level where you set your limit

where you place your order above the current market price

executed at the exact price that you specified in your

direction so a sell limit is obviously the exact opposite

market at a different price level to the current market

order it will then hopefully tag you into the trade and then

sell an instrument then you will get filled at the best

just whatever the current you know market price level is you

hopefully price will continue going up in the original

instantly buy an instrument you will get filled at the best

or bid price so it's when you're just looking to

you would set your limit with the intention that price is

at a specified price or better that is below or above the

instantly get into the market and you don't really care it's

just either want to sell or buy or obviously just exit your

called an app market order which essentially is just when

position at that current market price so if you just want to

a trader wants to buy or sell at the current best market ask

the community.

Now there are few different orders that you can use to