TRADING CFDs on Indices on SaxoTraderGO
FINDING AN INSTRUMENT
- Let's begin by creating a new Watchlist.
- Click on the drowpdown menu and select + New List
- Click on ADD INSTRUMENT and type in the search field the name of the index you are looking for. For example, type "Germany" into the field to trade the entire index of the 30 largest companies in Germany. Click on the instrument with the "red/blue CFD I" icon and click on Done.
- Click on the red/blue CFD I button next to Germany 30 and click TRADE
PLACING A MARKET ORDER
- The Trade Ticket window opens and it allows you to either trade at market prices or place an order at a specified price.
- Enter the number of indices you would like to trade in the QUANTITTY field. Saxo Bank allows it's clients to trade on live green prices without any subscription during the indices trading hours.
- To trade on market prices you need to change the ORDER TYPE to "Trade". At the bottom of the trade ticket you can find relevant information about the Margin and the Nominal value of your trade. Click enable in the trade window and proceed to buying or selling the index by clicking on the Buy button or the Sell button. On the right upper corner of your screen the notification window will appear with the confirmation that your order(s) has been placed. Click on OK to close the notification window.
TRACKING AN OPEN POSITION
- You can view the new position in the "Positions" section on the bottom of your screen. You can close your open positions or place related limit and stop loss orders directly from here.
- To place a related Limit order or Stop order click on the button and select your Stop and Limit; prices.
- You have 2 options to define your orders. You can either specify the Percentage or the Price Level.
- Click on the respective column, in our example price level. Once you have completed the set up click on the PLACE ORDER button.
- A window containing all relevant order information will appear. Review the displayed order information and click on "CONFIRM" to place the order(s).
- On the right upper corner of your screen the notification window will appear with the confirmation that your order(s) has been placed. Click on OK to close the notification window.
- To view your open orders click on "Orders" on the bottom section of your screen.
- This section offers you the ability to EDIT or CANCEL the already placed related orders.
- You can immediately close an Open Position by clicking on the Position section, and clicking on the price in the Close button. In case you are holding multiple positions in an instrument you should click on the "+" plus sign next to your position and then click on the CLOSE Price button in the respective row. . A Close Position ticket will appear, click on Enable on the Green Button and confirm your trade with a second click.
- On the right upper corner of your screen the notification window will appear with the confirmation that your order(s) has been placed and here you will see also if it was executed. Click on OK to close the notification window.
- In order to see the Chart module, Click on the "Charts" next to the overview in the upper right section of your screen. Thanks to the module linking you should see the Germany 30 CFD Index's chart. Furthermore, icons showing your open positions as well as related orders for this particular instrument will appear on the chart. If you cannot see these icons, click on the "Settings" icon on the right side of the chart module and tick the boxes "Show orders" and "Show positions".
- If you need any further assistance please do not hesitate to contact your account manager.