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Trade Forex, Futures and Options from One MT4 Account!
Download the easy-forex MT4: http://www.easy-forex.com/eu/mt4/
Adding Option Symbols to the Market Watch
- Log-in to your MT4 account and right click on the Market Watch screen then select “Symbols” from the menu.
- Go-to Symbol group ‘OPTIONS’, select ‘Show’ for the entire group or select the individual option contracts you want to trade.Options are available in the following assets: EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, and XAU/USD.
- After selecting option contracts, the symbols will appear in your Market Watch:
Hover your mouse over a symbol to see a full description of the option. The description informs you of the option’s strike rate, expiry time & date. Double click the symbol to open an Order ticket and trade.
Option Symbols
Call and Put options are available in FX majors and gold (XAU/USD). Each option contract is traded as a symbol from the Market Watch. One contract per symbol.
Symbol label consists of: Option Type-Asset-Duration-Strike
Where,
- Option Type = Call or Put
- Asset = Pair traded
- Duration = Trade’s expiry date
- Strike = Target rate
For example, the symbol C#USDJPYd+0 is a USD/JPY Call option with 1-day duration and ‘0′ strike level.
Trade Durations
You may choose a contract that expires daily (d) or weekly (w). The daily expires every trading day and weekly expires on the last trading day of the week (usually Friday) at 10am eastern standard time (EST).
Strike Levels
Each option has a choice of three strike levels. Strikes are identifiable as the last digits of the symbol in steps -2, +0, or +2.
For example, when trading a 1-day EUR/USD Call option (symbol name C#EURUSDd) there is a choice of three strike levels, each 100 pips apart. These are set at the time of the option contract’s release and if EUR/USD price was 1.10, the strike step +0 would be fixed at 1.10, step +2 at 1.11, and -2 at 1.09.
To view the exact strike rate, simply hover your mouse over the symbol or open an Order ticket. If you require more strike steps or expires please ask your Relationship Manager.
Example Order Ticket
From the order ticket set the option trade’s volume and order type then either Sell or Buy the option.
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