How to Use TradeLocker: A Beginner's Guide

In short: Log in, pick an instrument from the watchlist, read the chart, open the order panel, choose your size, set a stop-loss and take-profit, then buy or sell. Your open trades appear in the positions panel, where you can adjust or close them. Practise every step on a demo account first.

TradeLocker is designed to be quick to learn. This guide walks through the platform the way you will actually use it, from your first login to closing your first trade. Everything here works the same on a demo account, which is the best place to practise.

1. Log in to TradeLocker

When you open an account with a TradeLocker broker, you receive your login details by email. Open TradeLocker in your browser or in the desktop or mobile app and sign in with those details. If you have both a demo and a live account, check which one you are logged into before placing any trade. Having trouble? See our TradeLocker login guide.

2. Get to know the layout

The main screen has four areas you will use constantly:

• Watchlist: the instruments you can trade, with live bid and ask prices.
• Chart: TradingView charts for the selected instrument.
• Order panel: where you set size, order type, stop-loss and take-profit.
• Account panel: open positions, pending orders, balance, equity and margin.

3. Choose an instrument

Search the watchlist for the pair you want, for example EUR/USD or BTC/USD, and select it. The chart and order panel update to that instrument. Add the pairs you trade most to your favourites so they are always one click away.

4. Read the chart

Pick a timeframe at the top of the chart, from one minute to one week. Add indicators such as moving averages or RSI from the indicators menu, and use the drawing tools to mark support, resistance and trend lines. Keep your chart simple; a few tools you understand beat a screen full of signals.

5. Place your first order

1. Choose the order type. A market order fills at the current price. A limit order waits for a better price. A stop order enters when price breaks through a level.
2. Set your size. Enter the volume in lots. Start small: one micro lot is 1,000 units of the base currency.
3. Add a stop-loss. This is the price where you exit if the trade goes against you. Decide it before you enter.
4. Add a take-profit. This is the price where you take your profit automatically.
5. Buy or sell. Click buy if you expect the price to rise, or sell if you expect it to fall.

Not sure how big your position should be? Our guide to managing risk shows how to size trades from the amount you are prepared to lose, and how leverage works explains margin.

6. Manage open positions

Your trade now appears in the positions panel with its live profit or loss. From there you can:

• Move your stop-loss or take-profit.
• Close part of the position or all of it.
• See the margin the position is using.

Keep an eye on your free margin and margin level. If they fall too far, your broker may close positions automatically.

7. Review your history

Closed trades move to your history. Reviewing them each week, what worked, what did not and whether you followed your plan, is one of the fastest ways to improve. See common trading mistakes for what to look out for.

Tips for getting started

• Practise on a demo account until placing and managing orders feels automatic.
• Always set a stop-loss before you enter.
• Trade one or two pairs at first rather than the whole watchlist.
• Be careful around major news, when spreads can widen and prices move fast.

Ready to practise? Clarity FX accounts run on TradeLocker with ECN execution and a free demo. Open an account and your TradeLocker login arrives by email.

Frequently asked questions

Is TradeLocker easy to use for beginners?

Yes. Its layout keeps the chart, order panel and positions on one screen, and a demo account lets you learn without risk.

Can I use TradeLocker on my phone?

Yes. TradeLocker has iOS and Android apps that use the same login as the web version.

How do I set a stop-loss on TradeLocker?

Enter a stop-loss price in the order panel before you place the trade, or add or move it later from the positions panel.

Keep reading

• What is TradeLocker?
• TradeLocker vs MetaTrader 5
• How to start forex trading

Trading forex and crypto on leverage carries a high risk of loss and may not be suitable for all investors. This article is educational and not financial advice. Read our risk disclosure.