Forex trade
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Simulated conditions may differ from real conditions, and traders should not necessarily expect the same results from live trading.
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3. Run the file (VisualTradingSetup.exe) and install the software.
VT Trader™ 2.0 Released!
VT Trader™ 2.0, CMS Forex’s new eye-catching trading platform is packed with significant enhancements in usability and performance. All-new docking, tabbing, and "Auto Hide” functions allow traders to optimize the layout of their trading environment.
Expanding upon its already generous arsenal of analytical tools, which includes Chart Pattern Recognition*, VT Trader™ introduces Trader’s Guardian to help traders analyze and assess their risk levels. In addition, traders will have direct access to the Dow Jones Newswire, providing instant actionable news and insightful Market Talk™. VT Trader™'s order processing technology has also been thoroughly updated and now includes a self-monitoring system to anticipate and prevent inefficiences, resulting in faster price feeds and quicker execution.
*Chart Pattern Recognition Technology is presented by CMS solely for informational and reference purposes.
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Directly on the Chart with VT Trader™!
The first platform of its kind to allow traders to place and monitor their trades directly on the chart, VT Trader™ has continued to be an industry leader in innovation. In addition to dozens of preprogrammed technical indicators and several layout settings, VT Trader™ offers virtually unlimited customization, allowing traders to program their own indicators, create indicator-based automated trading systems, and much more.
If you are not a live account holder, and would like to try our VT Trader™ software free of charge, you can receive a demo user name and password by signing up for a practice forex trading account.
Forex is an over-the-counter (OTC) or off-exchange market.
Open a Free Practice Account
Open a free practice account and experience the Forex market risk-free with exclusive access to VT Trader™ 2.0.
Simulated conditions may differ from real conditions, and traders should not necessarily expect the same results from live trading.
How to use Stops & Limits after July 31
Using entry orders for stop-loss and limits after July 31, 2009
CMS Forex will be adding three new order types, One Cancels the Other (OCO), If/Then, and If/Then OCO, to the newest version of our proprietary platform, VT Trader 2.0, to accommodate NFA Compliance Rule 2-43(b). Beginning July 31st, trades will need to be offset on a first-in-first-out (FIFO) basis, meaning that the oldest one will be closed first.
All orders types are essentially either a market order to be placed immediately OR a pending order to be placed under certain conditions. These pending orders are either individual “Entry” orders or a combination of these “Entry” orders managed under specified conditions. Therefore, the new order types are simply different ways of managing your market orders and/or entry orders. Here are some brief explanations of these order types and their usages.
One Cancels the Other (OCO) – Links 2 entry orders; when one order is removed or executed, the other one is canceled.
The OCO order type is two separate entry orders “linked” together that are submitted (and managed) as a single order. When either of the two orders is executed, the other order is canceled.
- For instance, Mr. Jameson has a 1.0 lot long position in the EUR/USD at 1.3250. He wants to take profit at 50 pips and protect losses also at 50 pips. He would then submit a typical OCO order with an entrylimit (sell) at 1.3300 and an entrystop (sell) at 1.3200. Notice the terms “limit-sell” and “stop-sell”. This should help you quickly identify the possible purpose of these entry orders. When either one of these entry orders are triggered, it will offset the existing long position and cancel the other entry order.
- In another case, Mrs. Samuels wants to employ a straddle strategy, waiting until the market breaks out of a channel, and then trading in the position of the breakout. The EUR/USD is ranging between 1.3300 and 1.3350. She places an OCO order with entrystop buy at 1.3370, and then an entrystop sell at 1.3280. This way, if the market for example breaks below the range and triggers a sell at 1.3280, the entrystop buy order would be cancelled.
On July 31st, all existing stop and limit orders attached to existing positions will be detached from those positions and become an OCO entry orders pair on VT Trader 2.0.
If/Then – Links 2 entry orders; When one entry order is executed, another one is then created.
The first order (“IF” order) is an entry order, while the second order (“THEN” order) is an entry order that will be placed only if the “IF” order is executed. The “IF” order is placed based on the current price, while the “THEN” order is based on the “IF” price level.
- For instance, Mr. Patel wants to place an entry order to sell the GBP/USD if it rallies to 1.6500. He also wants to make sure he has a stop of 100 pips in place in the event that this order is executed. Mr. Patel would simply place an If/Then order. The first component, the “If” part will be the entrylimit sell at 1.6500, while the second component, the “Then” part will be the entrystop buy at 1.6600.
If/Then OCO – Links 3 entry orders: When one entry order is executed, 2 linked (OCO) entry orders are then created.
The If/Then OCO order type is three separate entry orders “linked” together that are submitted (and managed) as a single order. The If/Then OCO order can be a combination of any three single entry order types (i.e. Entry Stop Buy, Entry Stop Sell, Entry Limit Buy, and Entry Limit Sell). When the first order (“IF” order) is executed, the OCO order (“THEN” order) becomes active as a live OCO order. The OCO order pair can be a combination of any stop and/or limit buy and/or sell entry orders.
- For instance, Ms. Lee wants to go long if the GBP/USD drops to 1.5000 and also wants to place a 100-pip stop and limit around this position if it is executed. She would submit an If/Then OCO order. The “If” component is the Entrylimit Buy at 1.5000 and the OCO will the combination of an Entrylimit Sell at 1.5100 and an Entrystop Sell at 1.4900.
On July 31st, all existing entry orders with stop/limit orders attached to them will become an If/Then OCO combination order on VT Trader 2.0.
Here is a tabulated reference to pre-fifo and post-fifo equivalents. You will find that “straddle” is a new strategy allowed by the OCO order.
| Pre FIFO Order Type | Post FIFO Equivalent | Explanation/Notes |
| Basic Market Orders | same | Multiple orders are shown separately instead of being averaged and aggregated. Hedging is no longer available. Also, when offsetting, the oldest position will be the first affected. Then the next oldest and so forth. A direct "close position" command can only be issued to the oldest position in a group of similar sized positions in the same instrument (ie. EUR/USD) |
| Conditional Orders (for existing positions) | ||
| Stop only | entry order | In a long position: EntryStop Sell below position; In a short position: EntryStop Buy above position |
| Limit only | entry order | In a long position: EntryLimit Sell above position; In a short position: EntryLimit Buy below position |
| Stop and Limit | OCO | In a long position: OCO connecting EntryStop Sell below position + EntryLimit Sell above position In a short position: OCO connecting EntryStop Buy above position + EntryLimit Buy below position OCO ensures that if a stop or limit is hit, the other will be cancelled. |
| Straddle (not previously offered) | OCO EntryStop Buy + EntryStop Sell | Place entry orders around a price range - a practice for a breakout trader entry in the direction of the breakout. |
| Entry Orders: | ||
| Entry Orders only | same | |
| Entry Order w/ stop only | If/Then | When "If" is either EntryStop Buy, or EntryLimit Buy: appropriate "Then" as a stop would be EntryStop Sell below the "If" price level |
| When "If" is either EntryStop Sell, or EntryLimit Sell: appropriate "Then" as a stop would be EntryStop Buy above the "If" price level | ||
| Entry Order w/ limit only | If/Then | When "If" is either EntryStop Buy, or EntryLimit Buy: appropriate "Then" as a limit would be EntryLimit Sell above the "If" price level |
| When "If" is either EntryStop Sell, or EntryLimit Sell: appropriate "Then" as a limit would be EntryLimit Buy below the "If" price level | ||
| Entry Order w/ stops AND limits | If/Then OCO | When "If" component is executed, the OCO are then placed (the "Then OCO" component). Set the OCO for this "If" order in a similar way to existing positions in the market. This is basically 3 orders linked and managed together. |
| Trailing Orders | Available as an option for any entry stop orders | EntryStop Buy/EntryStop Sell both have trailing options. Set at a certain distance from the current price, and the order will "trail" by that distance. |
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Disclaimer: Futures, forex, stock, and options trading is not appropriate for everyone. There is a substantial risk of loss associated with trading these markets. Losses can and will occur. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using the information on this website will generate profits or ensure freedom from losses. |
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Disclaimer: Futures, forex, stock, and options trading is not appropriate for everyone. There is a substantial risk of loss associated with trading these markets. Losses can and will occur. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using the information on this website will generate profits or ensure freedom from losses. |
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