How to place a Matrix trade using the Ultimate Charting Software?

1) Right Click on chart and select Matrix.

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The Matrix window will open.

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When you right click on a specific chart and select the Matrix, the currency pair is automatically selected shown above in yellow.

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2) Select the way you want to run the Matrix.
     Pending - using this option will send your pending orders to your broker and Ultimate Charting Software does not need to be on and running at all times.
     Stealth - using this option will NOT send your pending orders to your broker. Your broker will only see the open positions when your pending orders are taken in by the market. Ultimate Charting Software will have to remain open and running at all times for this to work as this option runs like an auto trading system. (How to configure your computer to stay on and running at all times?)

3) Using the Number of Levels drop down, select how many pending orders you want to place on this currency.

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4) In the Lots Per Level field select your lot size for each pending order you want the Matrix to place.

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5) In the Distance Between Levels field specify the number of pips you want between each pending order that will be placed on the chart.

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6) Select the configuration you want to place your pending orders. 
     Above the Market - will place all pending orders above the current market price.
     Below the Market - will place all pending orders below the current market price.
     Both Sides - will place the pending orders below and the pending orders above the current market price.
     (NOTE: When using Both Sides, If your levels are set to 5, it will place 5 orders below and 5 orders above the current market price, totaling 10 pending orders.)

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7) Select how you want the Matrix to Activate on.
     Market - If you use this option it will open a position at the current market price along with the pending orders you specified.
     Alert - You can set the Matrix to trigger on an alert. It will open the position at the current market price and place your pending orders you specified once the alert has been triggered.
     (NOTE: If you are going to use the Alert option you must set the Alert first before you can setup the Matrix to trigger on the Alert.)

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8) Select the Order Side you want to use when your trade is placed Buy or Sell.

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9) Ensure the trading account you want to use is specified in Broker field.

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10) Close All Orders on Net Pips - this function will close all open positions and pending orders once the net pips you specified is reached with all the current open positions cumulatively.
      (NOTE: When using this function it will run like an auto trading system and Ultimate Charting Software will have to remain open and running at all times.)

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11) You can also use an alert to close the open positions and pending orders once the alert is triggered.
      (NOTE: You will have to set the Alert first before you can set the Alert to close all orders.)
      (NOTE: If you are using both options to Close Orders on Net Pips and Close Orders on Alert, whichever option occurs first, will close all orders.)

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11) If you want to use a stop, check the box that says Set Predefined Stop.

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If you know the rate at which you would like your stop placed you can enter in the rate value here.

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If you don't know the rate you wish to place your stop you can use a pip value.
In the yellow box (shown below) specify how many pips you would like your stop to be placed.

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12) Next, click the red Copy as button, shown in yellow below, to have the software calculate the rate from the pip value you specified.

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13) If you want to use a limit, check the box that says Set Predefined Limit.

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If you know the rate at which you would like your limit placed you can enter in the rate value here.

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If you don't know the rate you wish to place your limit you can use a pip value.
In the yellow box (shown below) specify how many pips you would like your limit to be placed.

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14) Next, click the green Copy as button, shown in yellow below, to have the software calculate the rate from the pip value you specified.

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(NOTE: When using stops and limits with the Matrix you need to ensure that the rate that you set these at has to be outside of your pending orders grid otherwise not all of your pending orders will be placed.)
(NOTE: If you are using Close all Orders on Net PipsClose on Alert, and using Stops and Limits you will then have 4 possible exit strategies. Whichever one the market triggers first, it will close the positions.)

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Your Matrix trade has been setup and you can now deploy it on the currency pair by pressing OK.


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