In the previous article, we explained six different types of order placement methods. Click here to view the previous article. 

Therefore, in this article, we will demonstrate how to use these operations on the VC Plus trading platform.

 

Buy Limit

Principle: Anticipating the support level, positioning a long position at the support point, and profiting from the price difference after the rebound.

 

Following the example in the above image, if you believe that the price will bounce back consistently once it reaches the support level indicated by the blue line, you should use Buy Limit. Our target support level is 132.425.

Then, you only need 4 steps to place a Buy Limit order.

 

Step 1: Click on "B."

Step 2: Select "Limit."

Step 3: Enter the support level price. Our target support level is 132.425, but let's set it slightly higher at 132.45. You can place the order near the target support level based on your personal preference.

Step 4: Click on "Buy."

 

After completing the above steps, you have successfully placed a Buy Limit order. Now, you just need to wait for the market price to reach the order price, and the order will be executed automatically.

 

Buy Stop

Principle: Anticipating the resistance level, positioning a long position at the resistance point, and profiting from the upward trend.

 

Following the example in the above image, if you believe that the price will consistently rebound once it reaches the resistance level indicated by the blue line, you should use Buy Stop. Our target resistance level is 1.067.

You can also place a Buy Stop order with just 4 steps.

 

Step 1: Click on "B."

Step 2: Select "Stop."

Step 3: Enter the resistance level price. Here, we will enter 1.0675.

Step 4: Click on "Buy."

 

After completing the above steps, you have successfully placed a Buy Stop order. Now, you just need to wait for the market price to reach the order price, and the order will be executed automatically.

 

Sell Limit

Principle: Anticipating the resistance level, positioning a short position at the resistance point, and profiting from the price difference during the subsequent fall.

 

Following the example in the above image, if you believe that the price will fall back once it reaches the resistance level indicated by the blue line, you should use Sell Limit. Our target resistance level is 0.8770.

You can place a Sell Limit order with just 4 steps.

 

Step 1: Click on "S."

Step 2: Select "Limit."

Step 3: Enter the resistance level price. Here, we will enter 0.87675.

Step 4: Click on "Sell."

 

After completing the above steps, you have successfully placed a Sell Limit order. Now, you just need to wait for the market price to reach the order price, and the order will be executed automatically.

 

Sell Stop

Principle: Anticipating the support level, positioning a short position at the support point, and profiting from the downward trend.

 

Following the example in the above image, if you believe that the price will continue to decline once it reaches the support level indicated by the blue line, you should use Sell Stop. Our target support level is 1.067.

You can place a Sell Stop order with just 4 steps.

 

Step 1: Click on "S."

Step 2: Select "Stop."

Step 3: Enter the support level price. Here, we will enter 1.0675.

Step 4: Click on "Sell."

 

After completing the above steps, you have successfully placed a Sell Stop order. Now, you just need to wait for the market price to reach the order price, and the order will be executed automatically.

 

Buy Stop Limit

Principle: Anticipating a price wave, positioning at a support level during an upward trend, and taking advantage of the pullback to continue the upward movement.

 

Following the example in the chart, if you believe that when the stock price reaches the resistance level represented by the green line, it will fall back to the support level and then rebound upwards, you would use a Buy Stop Limit order. In this case, the resistance level is 0.87720, and the target support level is 0.87455.

Executing a Buy Stop Limit order would involve 5 steps:

 

Step 1: Click on "B" to indicate that you want to place a Buy order.

Step 2: Select "Limit" as the order type.

Step 3: Enter the resistance level price, in this case, 0.8766, in the "Price" field.

Step 4: Enter the target support level price, in this case, 0.87455, in the "Stop Limit" field.

Step 5: Select “Buy”

 

After completing these steps, you have successfully placed a Buy Stop Limit order. When the market price reaches the specified resistance level (Price), the system will place your long position order at the target support level (Stop Limit) and wait for execution. Then, you just need to wait for the price to retrace, and your order will be filled.

 

Sell Stop limit

Principle: Anticipating a price wave, positioning at a resistance level during a downward trend, and taking advantage of the bounce to continue the downward movement after the pullback.

 

Based on the example in the chart, if you believe that when the stock price reaches the support level represented by the line, it will rebound to the resistance level, and then fall back down when it touches the resistance level, you would use a Sell Stop Limit order. In this case, the support level is 1.3657, and the target resistance level is 1.3695.

To execute a Sell Stop Limit order, you would need to follow these 5 steps:

 

Step 1: Click on "S" to indicate that you want to place a Sell order.

Step 2: Select "Limit" as the order type.

Step 3: Enter the support level price, in this case, 1.3657, in the "Price" field.

Step 4: Enter the target resistance level price, in this case, 1.3695, in the "Stop Limit" field.

Step 5: Select “Sell”

 

After completing these steps, you have successfully placed a Sell Stop Limit order. When the market price reaches the specified support level (Price), the system will place your short position order at the target resistance level (Stop Limit) and wait for execution. Then, you just need to wait for the price to rise, and your order will be filled.

 

Please note that the specific steps and terminology may vary depending on the trading platform or broker you are using. It's important to familiarize yourself with the platform's interface and order entry process to ensure the accurate execution of your trades.

 

Once you have learned all the steps, it's time to practice the course yourself so that you can confidently place orders. Quickly register an account and use a Demo Account for practice!