cTrader: Left Side Panel
Hello traders, welcome to the first module of the cTrader tutorial, Introduction to cTrader. On this lesson we are going to learn about the left side panel on your cTrader platform. And the left side panel is this panel right here that I have enlarged for the purpose of this demonstration or this lesson. Now, the first thing we are going to look at is the account information. You can see that the account information only holds the amount of buying power you have left, the leverage, the account number and if it’s a demo or a live account. Then you have the list of all of the financial instruments that you can trade with this broker. And the cool thing about the cTrader platform is that these financial instruments are divided by sector. And not only by sectors, you can see that you can trade Metals, Energies, Forex, Indices. And when it comes to shares, the shares themselves are divided by sectors. For example, if you are looking at UK shares and you want to trade, for example, UK Banks, you can do so by looking at this group of shares right here. And if you click on it, you can see that you have one, two, three, four, five banks that you can trade on the UK with this broker.
Now, we are going to focus on Forex for this lesson. But everything that we are going to talk about on Forex is also applicable to the other financial instruments. Now, you can see that you have the list of all the currency pairs available to trade with this broker, and it’s a pretty simple list with only the bid and the ask of each currency pair. But if you hover your mouse over the currency pair, you are going to get all the details of it. For example, right now we are looking at the Euro versus the US dollar, on which the base currency is the Euro, the quote currency is the US dollar. We have a maximum leverage of 1 to 500. We have a lot size of 100 000 units of the base currency. We have the commissions, the minimum traded volume, the maximum traded volume or allowed traded volume, and swap longs, swap short, etc. And if we were in a position on the Euro, US dollar, it will tell you the profits or loss of that position.
Now, this is also very interesting but not as useful as a trader. Now, if you click on the currency pair this will appear. This is a little more trader friendly because this is a one click buy or sell. Now, for example, right here, you can see that we have the daily low on the Euro, US dollar, we have the daily high on the Euro, US dollar, we have the spread on the Euro, US dollar. And right here, if you click right here, you can go ahead and send a limit order to sell the Euro, US dollar at a higher price. And if you click here, you can send a buy order to buy the Euro, US dollar at a lower price than the actual price.
Now, right here is where you change the amount of lots that you want to trade, starting with one micro lot all the way up to 100 lots I think this is. And, of course, you can modify this manually if you want.
Now, let’s go to the Euro, US dollar. And let’s say that we want to trade one lot. Now, if you want to look for a specific symbol to trade, for example, let’s see if we can trade Tsla on the US shares. You type the ticker and you click Enter and you can see that there are no tickers on the Tesla stock. So we are going to go ahead and try to look for a currency pair. GBPUSD and we click Enter and right here we have the Great Britain pound as the US dollar. Okay. And if you’re looking for a stock indices, you can also look for it. For example, let’s say we want to look at the FTSE. And right here, this is the FTSE, which hasn’t opened yet.
Now, the other tab is for the watchlist and we are going to teach you how to create a watchlist on another lesson. And right here is where you look at the bots that are available on this platform. But basically, the left side panel will allow you to look at, or look for, the financial instruments to trade and then to look for their information.