The use of orders means that downside losses can be minimised and profits can be locked in if markets move the wrong way.
Regular stop orders are designed to help protect investments against adverse market moves. Stop orders can be placed along with positions on all instruments for disciplined trading and to limit the risk for excessive losses. This means that investors can leave their trading platform feeling that they have taken measures to limit losses should the market move against them in their absence.
Stop losses allow for life's eventualities - even the good ones, such as vacations and days off. If one doesn't have access to a computer or the internet or simply doesn't want to keep a vigilant eye on the markets all day, stop losses allow an extra level of relaxation in knowing that at least the downside of one's trades are somewhat protected.
Trailing Stops are the lesser-known, lesser-used option. They allow investors to set a pip distance, so if the current price should fall by that number of pips, the position will automatically be sold. If the current price should rise, however, the percentage level is then calculated from the new highest value. Trailing stops can therefore prove an excellent possibility for minimising loss or potentially locking in profits should the markets move against investment positions.
Both regular stop orders and trailing stops are available to Saxo Bank clients on all trading platforms. Depending on the asset class traded, a variety of stop instruments can be used to match the kind of risk limitations investor's seek.
Most traders cannot be available 100% of the time. A general stop allows them to sleep more soundly and can be an effective way to protect capital and limit risk. It is also a nice way to limit oneself from intraday price volatility.
Charts in SaxoTrader and SaxoWebTrader
Clients can benefit from the functionality and features of a professional charting subscription, delivered as standard module in SaxoTrader and SaxoWebTrader. Not only does the intuitive design offer great usability, but a range of recently introduced features, such as built in order management, will greatly improve your ability to manage orders and current positions.
Key features of the charts are:
Order Management in chart
Full drag and drop functionality when adding new and amending existing orders allows you to manage orders while never leaving the chart.
View multiple instruments
Analyse the relative strength of two instruments using the comparative chart mode – or simply view multiple instruments with separate price axes.
Easy to use annotation tools
Fast and accurate annotations tools allow you to quickly mark up support and resistance levels, Fibonacci retracement levels – and much more!
55 built-in technical indicators
The charting module offers a wide range of built-in Trend indicators, Moving Averages, Oscillators, Volume Studies - and more!
Customisation of indicators
Today's technical traders demand flexibility from their trading software, so all settings of the built-in technical indicators' are highly customisable.
Period and Range selector
Quickly switch between various period and range selections with just one click via the new period and range selector grid.
Technical AnalysisAs the online trading market continues to grow in size and knowledge, technical analysis is increasingly being used by traders and investors looking to add an extra element to their trading. The use of technical analysis can be a valuable tool in building a market strategy and maintaining trading discipline. Saxo Bank's online trading platforms have built-in, easy-to-use tools that allow traders to harness the benefits of technical analysis.
Accessible systematic trading
Advanced tools like the Saxo Bank technical analysis program, mean detailed methods of market study are at the fingertips of the modern online trader. Systematic trading is no longer reserved for institutions and professional money managers – now advanced technical research is within the reach of all investors.
The technical analysis tool allows:
- Pattern recognition and analysis: The advanced technical analysis tool offers classic pattern recognition in selected Forex crosses and indices.
- Technical insight: Review technical events associated with particular instruments.
- Stock screening: The Technical Stock Screener offers trading ideas based on technical analysis using selected or predefined screening criteria.
- Customisable charts: Enhanced flexibility allows traders to see the charts and patterns they want.
- Event alerts: Event Alerts notify individuals when a price or technical event occurs.
- Other features include: Daily market highlights, trading ideas and product performance outlook.
Move online trading to an advanced level
Saxo Bank's easy-to-use program helps traders anticipate price trends in Forex trading and the stock market by analysing price history and looking for patterns and relationships. When predefined criteria are met, users will be aware so they can benefit from all opportunities. It's a bit like having one's own dedicated FX analyst or stock manager on ‘market watch' to find trading opportunities.
There are many advantages to the innovative technical analysis tool available through Saxo Bank's online trading platforms. Firstly, it offers classic pattern recognition in selected Forex crosses and indices, meaning individuals are alerted when key indicators arise. A Technical Stock Screener offers trading ideas for online trading based on market data by using screening criteria that users either select or input – so investors can actually specify what they want to look for and the format in which the results are delivered.
Technical analysis education
Included in the SaxoTrader and SaxoWebTrader technical analysis program is an educational section that teaches the user about technical analysis, explaining how it offers the opportunity to view the market in a different context from the ‘non-systematic' trader. Everything from Bollinger bands to Gannt charts are defined clearly and in explicit detail, including the pros and cons of using each type of analysis.
As the popularity of technical analysis has grown, it is estimated that in some markets as many as 80% of trading decisions now have a technical rather than fundamental foundation. This statistic shows how in today's uncertain markets, the need for making fully informed trading decisions is more important than ever. The technical analysis tool, combined with the streaming news modules and company-specific information available through Saxo Bank platforms make a powerful combination of trading resources.
Benefits of a technical or "systematic" approach
The deployment of predefined rules by which trades are first placed and then managed is currently a growth area for private traders.
The benefits of such an approach to the market are numerous, with the four main ones being the eschewing of behavioural bias, an emphasis on discipline, the development of a quantitative process and rigorous risk control. A trading system can be relatively easy to both evaluate and risk manage before any capital is put at risk, because the performance characteristics can be observed in advance over a wide range of market conditions.
Systematic trading means discipline
The systematic trader observes and assimilates the various technical factors present in the market, making a judgement as to their significance and evolving a strategy to offer the best risk/reward trade for that scenario. However, creating a consistently profitable trading system is an immense challenge and should not be underestimated. Newcomers who think that taking a couple of their favourite technical indicators and wrapping them up with a stop-loss and profit target will be sufficient to achieve their goals, are likely to be disappointed in the long term.
It is important for traders to create more than a single model applied to a single instrument. A portfolio of carefully chosen diversified models is likely to be more stable, resulting in controlled profit fluctuations and a smoother equity curve. And that means greater leverage opportunity and potential profits.
Fully customisable workspaces offer traders complete control over their online trading environment, putting them in control of their personalised workspace.
In the SaxoWebTrader platform, a variety of views allow for quick, convenient access to any number of screen layouts through the use of tabs along the top of the workspace. There are predefined views but users can easily create their own individual set-up.
Some example views include:
- A trading view, dedicated to frequently traded or preferred instruments, complete with trade modules, charts, analysis and news for those instruments.
- An account view, including the user's current positions and margin, account statement and more detailed account reports.
- A research view with market reports and updates from Saxo Bank and other top market analysts.
Saxo Bank's flexible SaxoTrader platform helps make the best use of available space.
Space-saving features include:
- Panels (both single and tabbed groups) can float outside of the platform — perfect if one uses multiple screens.
- Panels can be tabbed on top of one another.
- Panels can be docked together.
- Panels can be hidden when not in use.
Documents and Panels
Within SaxoTrader, trading modules and tools can be displayed in different formats. The format chosen depends on the module.
- Documents — a format best-suited for larger tools that contain a lot of information or text. Documents fill the whole screen and form the basis of a view.
- Panels — a more flexible format that allows modules to be located around the documents, moved around the workspace and even placed outside the workspace if one works with multiple screens.
Import custom Workspaces
In SaxoTrader we have set up several workspaces for different trading products. You can import these workspace layouts into SaxoTrader. See an overview here
The Instrument Explorer enables fast location of instruments from Saxo Bank's vast range of products.
The Instrument Explorer helps locate and organise all instruments tradable through the Saxo Bank online trading platforms, acting as a launching pad for all instruments. Once an instrument is selected, it can be charted or traded, while information specific to that instrument can also be viewed.
From the menus provided, a wide range of financial instruments can be explored, while double-clicking any individual instrument adds it to the Prices and Trade module on the platform. Just three tabs allow the user to choose from the entire list of available instruments, search by typing the instrument name, and to select previously defined favourite instruments.
The Favourites tab can be used to select instruments traded recently (available through the Recently Traded Instruments folder) or those previously defined as favourites.
Searching and Filtering
The Instrument Explorer contains a number of options to facilitate the quick location of instruments:
- Type just a few letters of the instrument or company name.
- Deselect products to show only the products of interest.
- List instruments by industry sector.
Instrument Explorer acts as a launch pad for trading, charting and analysis functions.
On the trading platform, after selecting one or multiple instruments:
- Right-click to open a trade module, price module or chart with the instrument(s).
- Drag instrument(s) to an existing chart or trade module.
Users can add commonly accessed instruments to their Favourites lists to recall them quickly. Recently traded instruments can also be quickly recalled from the Favourites list.
Financial calendar Saxo Bank provides clients with a customisable macroeconomic calendar for data events in the major global economies. Data is displayed in time-line sequence and clients can filter by data type, time period and country. The calendar includes, where possible, consensus estimates and the previous value for macroeconomic data. Discover the financial calendar
Keeping up-to-date with the latest Forex, Stock and commodities news is crucial for active investors. That’s why all of Saxo Bank’s trading platforms include free real-time market news from a variety of leading global and regional newswires. We offer basic and advanced FX and Equity news in English as well as broad market coverage in 11 other languages.
Personalizing your Saxo Bank news service is easy – you can set up custom profiles that filter by sector, asset, subject, region or country, so you’ll always see the news that matters most to you.
|Dow Jones Newswires|
Your Saxo Bank account gives you 24-hour access to breaking news and commentary from Dow Jones Newswires. Delivering a stream of headlines from the financial markets and commentary from experienced journalists, Dow Jones Newswires is a trusted news source for professional traders and investors worldwide.
|Market News International|
Market News International focuses on the most timely, insightful, relevant and practical financial market news, all in real-time. MNI’s FX Bullets and Commodity Bullets cover intraday trading in the world’s major currency and commodities markets, economic indicators and other market-moving news
News Agency Ritzau Finans is the leading financial news-wire in the Nordic region, providing the capital markets with financial news in real-time. Ritzau Finans offers Danish language coverage of the Danish and international markets.
Other platform features
The account menu can be used to view trades booked, financial statements, open positions and account overviews. Real-time open positions are available through this constantly updating account view in both the new account summary and an open positions module.
The Chat module is available to certain client segments and is used to communicate online with a Saxo Bank Account Executive through a sequence of short messages.
All messages sent and received through the Chat module are logged in the Chat Log (Account > Summary > Activity Log tab). Check the 'Chat' checkbox, define the time period for the chat history required, then click Show.
Integrating all trading products into a single trade module, the price board on the Saxo Bank platforms allows traders to monitor market prices for many instruments from a single price list, and trade directly on these live prices.
The advanced Stock Screener lets you easily filter through more than 11,000 companies from all over the world. Apply one or more of the 250+ advanced screening criteria and identify new trading opportunities. A truly professional tool that comes with in-depth Equity Research. Read more about the Stock Screener tool.
The Equity Research tool gives you a complete breakdown of company information, from general background to detailed financial analysis, on more than 11,000 companies. Easy access to a broad range of fundamental data including consensus analyst ratings and five years of historical and three years of forward looking financial information. Read more about Equity Research.