Wednesday, January 13, 2010

How To Trade Using HY Webtrader

Before you start, make sure :

-You are logged in to your webtrader in INTERNET EXPLORER. (other browsers may have problems)

-You have my signal blog open

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example

Tips now :
SELL EURUSD @ 1.4500 - 1.4530

TP @ 1.4450

SL @ 1.4600
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Step 1

Make sure you are at the main page of your webtrader, we first have to set the 3 values on the top right.
1.I Want to Trade - EURUSD
(This selects the currency pair you want to trade)

2.Trade Size - 2000
(This means you will be trading $20. trade size 5000 = $50, 10000 = $100 etc)

3.Amount to Risk - $20
(This sets the leverage, always make it the same as the amount u are putting in to set a 1 : 100 leverage, for example if your trade size is 5000, set amt to risk at $50)

*Always trade 30-40% of your free margin and not more, this is my recommendation.
* Trading on a different leverage may increase chances of losing faster.


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Step 2

Check if the trade is valid to perform, by looking at the Red(sell) or Green(buy) boxes. Since this is a SELL tip, we look at the red box, and make sure that the rate is in the range my tip specified.
In this case it is !


Step 3

So the tip is valid, now time to Sell. Click on the sell button, and then another confirm sell button will appear, click that one before the freeze timer runs out. Once this is done u will receive a confirmation that u have sold. Press ok.


Step 4

You have done the first half of the trade, what is left is to set the TP and SL (Take Profit and Stop Loss) To do this click on Open Positions.

Once inside, you will see your trade that you have just made. In open positions u can monitor the current profit/loss rate of your trade. And also to set the TP and SL. To set them, first select on your trade by clicking on the little circle next to it, then click Change Stop Loss or Change Take Profit. U will be brought to a page to enter the new TP or SL rate. Manually enter it according to my tips and press confirm. A confirmation will appear, just click ok.


Step 5 : Thats it, your trade is done. Be sure to check your trade and my blog for the current status of the trade every 4-5hrs.


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