Harborx for Android: Beginner’s Guide
So you have just downloaded Harborx app for Android and joined the world’s most ambitious social trading community… Now what? This basic guide will answer basic questions a beginner may have.
Once you login to the app, you will find yourself on the Trending page, very similar to a news feed that can be seen in popular social media platforms. Here’s what you might see (all images are clickable):
1.FOLLOWING A RECOMMENDATION
- ‘Recommendations’ – Trading positions recommended by our Star Traders.
- ‘Invest $20’ – the free margin amount required to follow that trading recommendation.
- ‘Get +252% or $50’ – the approximate profit you can get from following that trading recommendation.
- ‘See all’ – see all trading recommendations available for the day.
- Favorite Pairs – Most Traded Instrument Pairs.
• Weekly Top Stars – Star Traders with most successful trades for the week.
– ‘Win Ratio 75%’ – trading ratio of the Star Trader.
– ‘Win Trades 92’ – the number of successful trades placed by the Star Trader.
Tap on a recommendation card if you wish to FOLLOW a Star Trader’s recommendation. Once done, you will see the details of the trade you have selected to follow:
- Get +41% or $16 – the approximate profit you can get from following this trading recommendation.
- ‘Win Ratio 74%’ – the successful trading ratio of the Star Trader
- ‘Trades Won 64’ – the number of successful trades placed by the Star Trader.
- Under ‘Trade Details’ you will find the entry price, target price, expected profit USD amount, traded volume and the Stop Loss rate for your recommendation.
- ‘Follow $40’ – the free margin amount necessary to follow this recommendation. Tap on it to submit!
Congratulations: You have just followed the recommendation!
- If you tap on ‘Position’ button, you will access your followed recommendations.
- 0.04 lots represent the volume amount used to follow the recommendation.
- @1.11825 – The opening price of the recommendation you wish to follow.
To manually open a trade, tap on the ‘buy’ or ‘sell’ rates for your desired instrument.
- ‘Market’– open your position at the current trading price.
- ‘Pending’ – open position at your desired price (the price you set cannot be less than 10 pips away from the current market price).
- Tap on the arrow symbols (left side) if you wish to adjust the Stop Loss and/or Take Profit for your trade.
- ‘Quantity Lot’ – the volume at which you want to open your trade (tap on the volume amount to change it).
- Tap the ‘+’ or ‘-’ symbols to increase/decrease your Take Profit and/or Stop Loss.
- Select ‘SELL’ to confirm your trade.
If you have selected to open a position at your desired price (Pending Order), you must enter:
- Your desired entry price
- The opening volume
- Expiry date and time
- Your desired Stop Loss and Take Profit
Tap ‘Sell’ to confirm your trade.
To check your open/pending positions and/or the recommendations you have followed, go back to your dashboard and select ‘Trades’. Tap on a position if you wish to close or modify it.
- ‘Close Trade’ – close your current position.
- ‘Modify’ – modify your position.
- ‘Chart’ – see the trading chart for your position.
- Tap on the ‘+’ or ‘-’ symbols to modify your Take Profit and/or Stop Loss.
- Tap on the arrow symbols to remove your Take Profit/ Stop Loss
Press ‘Submit’ to confirm your trade modifications.
Need more info about forex trading, Harborx Stars and what social trading is about? Don’t miss these links:
- Forex 101 – everything a beginner needs to know about trading in the world’s most liquid market.
- Harborx Stars – who they are and what you should know about them.
- Harborx FAQs – frequently asked questions. Can’t find the answer to your question? Feel free to ask us anything!
Risk warning: there is a high level of risk involved with trading forex, commodities, indices and other contract-for-differences. Past performance is not a reliable indicator of future results. You must be aware of the risks associated with trading directly or indirectly on margin. Please ensure that you fully understand the risks involved and do not invest with money you cannot afford to lose. Please seek independent advice if the risks involved seem unclear to you and refer to our full risk disclaimer.
February 1, 2018
January 17, 2018
January 10, 2018