Charts

OHLC chart

The currency rate chart shows how currency exchange rates change over a period of time ranging from seconds to months. The chart is updated in real time as OANDA sends out the latest currency rates.

The default chart is an OHLC (Open-High-Low-Close) Bar. It shows highs and lows for each period using a vertical bar, with a horizontal tick to the right showing the closing mid-price. It also provides a horizontal tick to the left, showing the opening mid-price for the period.

There are two drop-down menus to choose the currency pair and time frame granularity. At top left, there is a text displaying the choice of the actual chart.

Order dialog

Clicking on the Buy/Sell button, you issue Market Orders or Limit Orders for either buy or sell trades from the Buy/Sell dialog. A Market Order is the default type.

  • Market/Limit order Types of Orders.

  • Buy/Sell Choose between buy (long) and sell (short).

  • Market Choose the currency pair you wish to buy or sell from the pull-down menu.

  • Units The number of units of the currency pair you wish to buy or sell, expressed in terms of the base currency of the pair.

  • Quote The target rate in a limit order. The order will request a trade when the exchange rate for the selected currency crosses this target rate. Read- only for a market order, the most recent exchange rate.

  • Expire The amount of time before the limit order will expire. Available only for a limit order.

  • Price/PIPS Shows units in either the price, or in the number of pips from the current price.

  • Lower Bound The order will result in a trade only if the recent exchange rate is higher than or equal to this limit.

  • Upper Bound The order will result in a trade only if the recent exchange rate is lower than or equal to this limit.

  • Take Profit Setting a take profit it closes a position at a specified profit.

  • Stop Loss Setting a stop loss it closes a position at a specified loss.

  • Trailing Stop A stop loss that can be set at a defined pips away from a current market price.

Market orders are executed when they are submitted. They are executed at the current market price, unless it's outside of upper and lower bounds optionally set by the user.

Limit Orders are executed when the exchange rate reaches a specified threshold, before a specified expiry period.

When you are ready, click the Submit button.

The Trades (or Orders) and Activity views are updated and the aggregated effects from this new trade are reflected in the Positions and Exposure views.