Understanding financial markets is much easier with hands-on experience from the on-line demo account on our trading platform

While the analysis and consideration standing behind each transaction made on the financial market may be a complicated topic, making the first transaction on a demo account with a newly installed MetaTrader platform is an easy task. In fact, it is as easy as clicking twice with a left-mouse-button. How does it work?

Let us suppose that the trader wants to make a transaction on the EURUSD market. In order to do so, there are the following options available:

• To find the EURUSD market symbol in the Market Watch window on the top left side of the workplace of the platform.
• Choose the "New Order” from the icons menu at the top of the platform window.
• Or simply press the F9 button.

In any case a new window will be open – Order window. In this window it is possible to specify the details of a planned transaction, where the most important factors are:

• The market to be traded – option Symbol at the top – it is advised to always make sure whether the market shown there is the one chosen.
• Volume of the transaction – option Volume – it shows how many contracts are to be traded. Current Bid and Ask price, both in graphical and digital version.

Now, depending on your decision one may:

• Buy – if the expectation is that the market will rise, one will probably be interested in this option. By pressing Buy button it is possible to purchase a contract on the given market, in other words – to take a long position on the chosen market or close a short position if there has been any.
• Sell – if one expects the market to fall, the Sell option might be of interest. By pressing the Sell button the sell transaction of the financial instrument on the given market is initiated – resulting in a short position on the chosen market being taken, or a long position closed, if there has been any.
• Request – this option is available only for certain markets. After pressing the Request button, the trading platform sends the request for the confirmation of the current price. The standard transactional options (like Buy and Sell) will be available immediately once the response comes and the price is confirmed.
• Do nothing – just by closing the window with the „X” icon in the top right corner, or simply pressing Escape. It is important to note that if an order has already been placed, closing the Order window may not cancel it.

If a transaction has been made, as a response the next screen will typically show the confirmation of the transaction executed.

The new open position will be immediately shown in the Toolbox – horizontal window at the bottom of the screen. The most important values that are displayed in the information on the open position are:

• Symbol – the identification of the market where the position is open. Time – time when the position has been opened.
• Type – can be "buy” or "sell’, shows the direction of an open position.
• Volume – the size of the open position, in terms of the number of contracts.

Price – there are two columns – the first shows the price at which price the position has been opened, the other reflects the current market price for closing the position.

• S/L – Stop Loss level, aimed at protection of the position from incurring unpredictable losses.
• T/P – Take Profit level, aimed at protection of the planned profit. For more information on the topic of Stop Loss and Take Profit orders please refer to the Protecting the open position section ahead.
• Profit – the actual value of the open position. At least in the first moment after opening the position its result will be negative – this is as a result of spread inherent in the quoted Bid and Ask prices.