The multi terminal version of the Visual Trading Console offers Single-click order execution, which is identical to the approach used in VTC single terminal version.
However, the multi terminal version offers an additional field in the quote boxes, which is used for single-click order entry – the “Magic” number entry.
This new feature enables the trader to group manually entered trades by magic numbers. Additionally, third party EAs can use this information to further manage these trades.
The instrument quote box in Visual Trading Console (multi-terminal) automatically handles REQUOTE and BUSY errors plus works with ECN, STP and dealing desk brokers both, 4 and 5 digit brokers.
Single Click Order Entry
The quote boxes enable instant trade setup (single-click) with predefined Take Profit and Stop Loss levels plus give the option to automatically apply the same money management and risk control rules for every trade. This is done by setting the Take Profit and Stop Loss values (which are entered in pips and are set relative to the actual order entry price) plus the desired fixed lot size (Instant Market Order (set vol)).
Alternatively, the traded lot size can be automatically calculated using the user defined risk percent factor (Instant Market Order (set risk)).
The “Magic” & “Trade Comment” fields are optional – they are used for setting the trade’s magic number and short comment.
To enter a trade with a fixed (user defined) lot size plus initial TP and/or SL values, the trader should fist set the quote box to the Instant Market Order (set vol) mode and once all values are set, order placement is done by clicking one of the price buttons on the BUY or SELL side of the quote box for the desired instrument.
Same basic principle applies when placing trades with risk based lot sizing, but instead of manually entering the lot size (via “Volume” field), the trader should fill in “Risk%” and “S/L” fields as these two factors are used for calculating the lot size of a trade.