The Trade Terminal is a feature-rich professional trade execution and analysis tool. It offers precision trading, automated scaling out from positions, templates for frequently used order entries, and analysis of open positions.
Its deal ticket has the following key features:
- Simple fields for setting stop-loss, take-profit and trailing stop in pips
- Pop-up calculators, e.g. for working out the lot size which corresponds to a cash risk given a particular s/l distance
- Open-position marker, providing access to options for quickly closing, reversing, or hedging the position in a symbol
- Pop-up dealing form for creating pending orders as well as market orders
- Ability to create templates for quick order entry
- Displays key symbol information (pip size, value per pip etc)
In other words, the Trade Terminal allows one-click entry for simple market orders, and two-click entry for potentially-complex pre-defined templates. These templates can also be saved and used in the Mini Terminal and Market Manager tools.
The Trade Terminal gives an overview of current account metrics such as equity and margin usage, with simple facilities for setting up alerts on these figures - e.g. a warning if margin usage exceeds 10%. (For specialised alarm management, including the ability to carry out automated actions, please see the Alarm Manager).
Position and order lists
The Trade Terminal also displays a list of all open positions and pending orders, with quick and simple facilities for carrying out actions such as the following:
- Close all positions
- Close all losing positions
- Close a specific position
- Do a partial close
- Change the s/l, t/p, or t/s on a position or pending order
The trader can select multiple orders from the list and then carry out actions on all of them at once. For example, the user can select all their losing positions, and then set a break-even take-profit on those positions using only two mouse clicks.
Rules for scaling out of positions
The Trade Terminal also lets the trader define rules for scaling out of positions, and these rules are then applied automatically without further manual involvement. An example of such rules is as follows:
- When a position reaches 20 pips profit, close half of it and move the s/l to break-even
- When a position reaches 30 pips profit, close another 25% and move the s/l to +10 pips
- Close the remainder of the position when its profit reaches 40 pips
Like order entry, these rules can be saved as templates, and quickly applied to new positions in future with a couple of mouse clicks
The Trade Terminal provides a number of options for analysing open positions. Positions can be grouped into categories, e.g. by symbol, or direction, or the combination of symbol and direction. The trader can see the total profit etc. for each category, and can carry out actions on all the positions which fall into a category, e.g. setting a 30-pip stop on all AUD/USD buy orders.
Click here to download the user guide: BlackPearlFX – Trade Terminal.pdf