Point – a minimum price movement for a certain instrument. One point equals to a unit change of the last figure in the price. E.g., if the instrument rate is displayed with four decimal places, one point for the instrument makes 0.0001. Then the difference between the rate of 1.2345 and that of 1.2346 (0.0001) is 1 point, the difference between 65.33 and 62.22 (3.11) makes 311 points, that of between 1234.5 and 1234.1 (0.4) is 4 points.
Roll-over is an open position transfer to the next delivery (value) date. The rollover is carried out by two transactions, the first one closes the position on Tom value date, whereas the second deal opens the same position but with a Spot value date (Tom is the nearest trading date, Spot is the trading day after Tom). Closing is executed with the current rate. The opening rate is defined as the current rate adjusted for the given instrument rollover rate. Rollover rates reflect the difference in currency interest rates. The rates are specified in the information on instruments.
OCO orders (One Cancels Other) are two orders linked with each other so
that if either is executed the other is automatically cancelled. Please note
that the OCO pair is cancelled only in case of the successful execution of the
If the conditions of either of the orders have been met but the system has rejected the trade (e.g., because of the excess of the open position), this order is cancelled, its OCO pair unlinks it and becomes a single order.
The same takes place if either of the OCO orders is cancelled by the user or system due to its expiry, i.e. the OCO paired order unlinks it and becomes a single order without the OCO pair.
OCO group is a common name for the orders linked as OCO. All the linked orders have the same group number. E.g., if you link two orders, their group number will be A. The next pair you link will have the group number B, the next one C, etc. The OCO group number remains the same during the terminal session. However, it may change after you log out and then log in to your account once again, in case you have separated the OCO groups or either of the group orders has been cancelled or executed. It allows for short names of the groups which makes it easier to identify the linked orders.
If Done orders are the orders linked to the parent order so that its If Done orders are not considered by the trading system and cannot be performed until the parent order is executed. If Done orders are suspended until the parent order is executed. After it is executed, its If Done orders are activated, so they turn into the ordinary active orders.
Please note that the If Done orders become activated only if the parent order is executed. In case of its cancellation the If Done orders are cancelled as well.
In the advanced trading mode, if a parent order opens a new deal its If Done orders will be tied to it to close it provided that their parameters match those of the deal.
Stop order is an order for a deal at a less profitable rate than the market rate is at the order placement (i.e., at a lower rate to sell or a higher rate to buy). Stop orders are usually used to close positions as well as to defend oneself against possible losses at the adverse market movement. Note that at a rapid change in currency rates, when the price jumps for tens points or more at once, the Stop order can be executed at a less profitable price than that specified in the order settings. It happens sometimes at the opening on Sunday evening, at publications of important economic indicators, but it hardly ever takes place during normal trading hours.
Limit order is an order for a deal at a more profitable rate than the market rate is at the order placement (i.e., at a higher rate to sell, and a lower rate to buy). The Limit orders are usually used to open a position as well as for a profit taking at the specified level.
Order type "Auto" (auto detection) makes it possible for the trading system to automatically detect the order type (Stop or Limit) on the basis of the order parameters (trade direction, instrument, currency, and rate) and current market price. If you set the Auto type for the active order, the type is detected when the order is saved, and it immediately obtains the type of Stop or Limit. If the Auto type is set for the If Done order, the type is detected when the order is activated. Before this activation the If Done order type is Auto.
Trailing is an automatic adjustment of the order rate at the market movement so that the distance between the current rate and that of the order would not exceed the trailing distance. The order rate changes only if the current rate moves away from the order. It is unchanged if the market moves towards the order. The trailing is available for Stop orders only. For more information, and examples please see section Trailing FAQ.
Trailing order is a Stop order with the rate which can automatically change when the market moves (keep track of the market movement). The order rate changes so that the distance between it and the current rate would not exceed the specified value called a trailing distance. It means the order rate changes only if the market price moves away from the order rate. It remains unchanged if the market moves towards the order.