How to Place Your First Trade on AlgoraFX
A complete walkthrough of placing a buy or sell trade — choosing a market, setting your position, and managing it from open to close.
- 1Trades are available in Forex, Crypto, Gold, and Crude Oil sections.
- 2Each trade requires: market, direction (buy/sell), lot size, entry price, and stop loss.
- 3Your admin opens trades based on your submitted details — this is a managed trading model.
- 4You can view all open and closed trades from the Trades section of your dashboard.
Trading on AlgoraFX is straightforward. This guide walks you through the entire process from selecting a market to monitoring your position.
Step 1: Navigate to Your Market
From your dashboard sidebar, select the market you want to trade:
Forex — EUR/USD, GBP/USD, USD/JPY and more
Crypto — BTC/USD, ETH/USD and others
Gold — XAU/USD
Crude Oil — OIL/USD
Each market page shows a live TradingView chart so you can analyse price before deciding to trade.
Step 2: Analyse the Market
Use the embedded TradingView chart to:
Identify the current trend direction
Find key support and resistance levels
Look for a trade setup (candlestick pattern, breakout, pullback)
Determine your entry price, stop loss level, and take profit level
Only move forward once you have a clear plan with defined stop and target.
Step 3: Submit Your Trade Details
Fill in the trade form:
Symbol — e.g. EUR/USD
Type — Buy (you expect price to rise) or Sell (you expect price to fall)
Lot Size — How many lots to trade (start small — 0.01 micro lots)
Entry Price — The price you want to enter
Stop Loss — Your maximum loss price
Take Profit — Your target price
Double-check all figures before submitting. Your trade will be opened by the admin team.
Step 4: Monitor and Close
Once your trade is open, you can monitor it in the Trades section of your dashboard. Your current profit or loss is updated in real time based on the current market price.
To close a trade:
Your trade closes automatically when price hits your Stop Loss or Take Profit, OR
Contact support to request a manual close at current market price
All closed trades appear in your trade history with a full P&L summary.
Ready to Start Trading?
Apply what you've learned with a free AlgoraFX account.