ZuluTrade Blog

New Features

Stop and Limit Made Easy

Friday, October 30, 2015 11:13 PM GMT

What are the first words that come to mind when you think of ZuluTrade?Is it autotrading? Social Trading? Transparency? Innovation? If the answer is all of the above, then you are on the right track! One of our keywords is innovation and we always try to implement new cutting-edge features that will make your trading experience easier! Let's see how we put this into practice with the Stop and Limit settings.

Setting a Stop Loss (SL) and Limit/ Take Profit (TP) value is central in Forex trading, as these settings are used to minimize losses and secure profits. To set either of them on most trading platforms you need to indicate the market rate that once reached will close your trade. We had already changed that and simplified matters by allowing our users to set the SL or the TP in pips instead of choosing the critical rate but now we have taken simplicity a step further!

Now the ZuluTrade users have not just one or two, but three setting alternatives! They may namely indicate a target rate for the Stop or the Limit or indicate a value in pips or.. a monetary value! That's right, our users may now indicate the monetary amount they wish to lose or win before their trade is closed by Stop or Limit Hit, respectively:

To set a monetary amount for Stop Loss or Take Profit, users just need to log in to their account, go to the Position tab, where all open trades are listed and click on either the Stop or the Limit column. A new pop-up window will then appear where users may set the acceptable loss or desired profit respectively, in the base currency of their account:

Happy trading ZuluTraders!

In volatile, or fast moving market conditions, Stop and Limit orders become market orders to be filled at the prevailing price, which may be vastly different from the desired price. Due to this, there may be substantial losses. Stop-loss or Limit orders do not always guarantee a fill.

This blog content is written for educational purposes and does not contain any investment advice.

Depending on your region some of the features presented in this blog may not be available.

Comments are closed

Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. Because the risk factor is high in the foreign exchange market trading, only genuine "risk" funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the foreign exchange market. Forex Brokers and ZuluTrade are compensated for their services through the spread between the bid/ask prices or there may be a cost to initiate a trade through the bid/ask spread. Signing up is totally free, and there is NO contract and NO monthly fees, ever.

This blog is for informational purposes only. This blog is not intended for distribution channels and may not be reproduced or distributed without the permission of Zulu Trade ltd or any of its affiliated entities (“ZuluTrade”). All opinions, news, prices or other information contained in this blog are provided as general market commentary and this report does not contain and it is in not to be considered in any circumstance as market analysis, offer or solicitation to buy or sell any financial instruments, personalized or general recommendation for any investment decision or investment strategy by ZuluTrade, in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The information contained in this blog should not be construed as financial or investment advice on any subject matter. The financial instruments referred to herein may not be suitable for all investors and any investments on such financial instruments requires the assessment by each investor and its counsels of the investor’s investment characteristics, including the investment risks which the latter is willing to assume. This blog has been based on information which has been made public, obtained from sources believed to be reliable, but it has not been verified by ZuluTrade. No representation or warranty (expressed or implied) is made as to the accuracy, completeness, correctness, timeliness or fairness of the information or opinions herein, all of which are subject to change without notice. No responsibility of liability whatsoever of howsoever arising is accepted in relation to the contents hereof by ZuluTrade or any of its directors, officers, employees. Further, no representation is being made that any results will be achieved, and past performance is not indicative of future performance.