thePropTrade

TradeLocker: How to use On-Chart Trading

1 min watch

On-chart trading is a powerful feature that streamlines your trading experience by allowing you to execute trades directly from the chart. This article will walk you through how to use on-chart trading to set market and pending orders, including Stop Loss  and Take Profit  levels.
 

With this feature, you can seamlessly place orders right on the chart, enabling quick reactions to market movements and enhancing the excitement of real-time trading.

1. Choose an instrument

Select the instrument that you wish to trade and navigate to its chart.  Observe the chart to determine the right price for your trade. 

2. Initiate your Trade

Hover the cursor over the desired position on the chart where you want to enter a trade. A “+” button will appear next to the price axis at that point. Click on the “+” to access options for placing a pending order, Stop Loss, or Take Profit.

how to trade on the chart

3. Set the Stop Loss and Take Profit levels

Click the “+” to set your Stop Loss or Take Profit levels. The Take Profit level will be highlighted in green, indicating the target price for taking profits, while the Stop Loss level will appear in red, marking the price where you plan to limit your losses.
 

You can click and drag these levels on the chart to adjust them according to your trading strategy. As you make adjustments, the corresponding prices will update in real-time on the order panel.

set a pending order on the chart

 

4. Set Your Pending Order

After clicking the “+”, the pending order will appear on the chart. You can adjust its position by dragging it directly on the chart.

 

set a pending order on the chart

 

You can set your Stop Loss and Take Profit levels directly on the chart or edit your pending order. Click on the Pending Position to edit it directly in the order panel.

 

edit the pending order

 

5. Confirm Your Trade

Once you have set your pending order, Stop Loss and Take Profit prices, review the details on the order panel. Confirm your trade settings and execute your order on by clicking Buy or Sell on the order panel.

You can also select the SL or TP toggle on the order panel and adjust the levels by dragging on the chart.

 

set SL&TP on the chart

 

For further explanation see the video below. 

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