Great news for all the seasoned, experienced traders out there as leading broker and social trading network provider eToro has just announced the launching of yet another cool tool, under the name One Click Trading.
Using the One Click Trading mode will enable the experienced traders to trade faster by immediately opening trades, without the need for further confirmation, according to a list of pre-determined trade parameters (i.e. Amount, Leverage, Stop Loss and Take Profit).
Exactly because One Click Trading speeds up the process of opening a trade incredibly, it may prove very useful as a tool during times of high market volatility when the timely and speedy placing of a trade is very crucial.
If you already have an eToro account, read below to find out how you can utilize and apply this new capability:
How to Turn On the One Click Trading Mode
Access the new “Trading” settings screen, to be able to switch on the One Click Trading mode, by pressing yes as the answer to the relevant question:
Alternatively, you can also enable the One Click Trading mode, by accessing your watchlist and using the cogwheel drop down menu:
How to add markets to the One Click Trading feature
For One Click Trading to work, you need first to select the markets you want to enable it for and configure your preferred trade parameters for those markets.
You can add markets and/or instruments in the trading settings using the search option or by pressing the add market tool (as shown below):
Whenever you open a trade in a market that is not already on your One Click Trading list, you can still add the specific instrument to the One Click Trading mode, by ticking the relevant box below each trade screen:
Setting the Trade Parameters
Once you have added a specific market/instrument to your One Click Trading list, you then need to set your preferred trade parameters: i.e. the Amount, Leverage, Stop Loss and Take Profit.
The Stop Loss and Take Profit can be set to either “Default,” which currently is the platform default of 50%, or to “Max,” which will set the maximum allowable value for each (currently 50% for the Stop Loss and 1000% for the Take Profit). You can always review or edit all or some of the trade parameters specified for each market.
After you finish selecting your preferred markets and you have specified the relevant trade parameters, and once the One Click Trading mode is enabled, than all the BUY/SELL buttons of the markets you have selected to trade in this mode will appear in grey color, enabling you to know at a glance that they will open a trade immediately when clicked. Also note that closing a trade on an instrument that is included in your One Click Trading-enabled list, will also be executed immediately, without the need for a further confirmation.
One click trading could prove extremely useful and popular as a feature in the hands of the investment community. However, it should be stressed that its use should be made with extreme caution and due discretion, as opening and closing a trade is rendered super fast and automated, without the need for an extra confirmation. When you decide to enable this trading mode bear in mind that you can close a trade once open, but you cannot cancel it completely.
The eToro team is very excited about this new feature and hopes that it will prove very useful for its members, while it also encourages their own feedback about the experience of using One Click Trading.