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Dealing Rates Window
Make Market Orders
Make Entry Orders
The Dealing Rates Window displays live rates produced by the dealing desk. This window is used for trading. There are two types
Dealing Rates Window Styles.
Original:
Advanced:
The following information is available in the Dealing Rates window:
Cur 1 - (Currency 1 ) - contract currency
Cur 2 - (Currency 2 ) - second currency
Bid (Sell) - last updated value of bid price
Ask (Buy) - last updated value of ask price
Time - time of last update
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The following functionality is available in both Original and Advanced Dealing Rates window:
Market Order
To execute a trade at the current market price, click on a currency rate for the
currency/instrument you want to trade, under the column that corresponds to the trading
action you wish to take (Bid/Sell or Ask/Buy), or right-click anywhere within the
instrument record, and choose the Market Order command from the pop-up menu. The Amount
Input dialog box will appear:
Enter the desired amount, measured in lots, set the trader range in number of pips and click OK. A new order marked with the letter 'I' (Initiate) will appear in the Trader's Orders Window. The Dealer will now confirm the
operation, reject it, or remove it, depending on the current market rate.
Trader's Range:
If by the time when the system receives a trader's I or C order, the Dealing Price
is different from the original order price, the system will automatically
reject this order due to the discrepancy between prices, and notify the trader about the new price.
In order to avoid auto rejects by the system, the Trader may set
a Trader's Range (TR), - the amount of
deviation from the original order price, in pips, he will automatically accept.
With the "Trader's Range" set, if
by the time the system receives a trader's I or C order the Dealing
Price is different from the original order
price, but within the Trader's
Range from the original order price, the
system automatically open a position at the current Dealing Price.
If the Dealer confirms the
order, the 'I' record will disappear and the new position record will be added to the Open
Positions window. The account information will be updated.
If the Dealer rejects the order due to a price change, a new order marked with the letter 'R' (Reject) will appear
in the Trader's Orders Window instead of the 'I' order. This order will show a new market
price. The prompt shown below will appear notifying the Trader that the price has changed,
and will display a new price. The Trader will have several seconds to either accept this
new price, by clicking the "Accept New Price" button at the bottom of the
prompt, or to remove order, by clicking the "Remove Order" button.
If the trader does not accept a new price
within the "reaction time" the order will be removed by the system and the
following message will appear:
If the dealer removes the order the following message will appear at the screen.
Note: Hedging Positions
Depending on your agreement with the Dealing Desk, you may be allowed to open positions
opposing ones that already exist, i.e. hedging. If this is allowed, opening positions from
the Dealing Rates Window will not offset your existing open positions.
Therefore, open positions can be
"hedged" by placing new trades in the Dealing Rates Window in the direction
opposite to already-open positions. If "hedging" is allowed by your dealing
company's business rules, the only way to close an open position is to left click on the
" Close " field within the position record in the " Open positions "
window or to right click anywhere within the position record in the " Open positions
" window and choose the "Close Position" command from the pop-up menu; or
to set a Stop/Limit to the order. If filled, such order then will close the position. You
can also hedge an open position from the " Open Positions " window. [please
also see information in "Open Positions window" section]
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Entry Stop/Entry Limit Order
Entry Stop/Entry Limit Orders are aimed at
opening positions at off-market prices. These orders will execute if the market value of
an instrument reaches the entry stop/entry limit price. In general, Entry Limit orders aim
at opening positions at a price "better" than the current market price. The
Entry Stop orders aim at opening positions at a price "worse" than the current
market price. To initiate Entry Stop/Entry Limit Orders, right-click anywhere within the
instrument record and then choose the "Entry Stop Order" or "Entry Limit
Order" command from the pop-up menu. The Amount input dialog box will appear:
Enter the desired amount measured in lots,
adjust the price as shown in the box, and click OK. A new order marked with letter 'ES' or
'EL' (Entry Stop or Entry Limit) will appear in the Trader's Orders Window. The Dealer
will execute it when the market price reaches the price of the Entry Order.
Refresh Data - right click
within any record or on the header, choose "refresh"
Additional functionality available from Original-Style Dealing Rates Window:
Change Font - right click on any record in the window, choose "font", choose desired settings for the font.
Show and Hide Columns - right click on the header, choose "columns" and check boxes next to columns you want to appear in the window.
Sort Records - right click on the header, then choose "sorting", then choose "ascending", "descending", or "default," or simply left-click the column title. All records in that column will be sorted.
Additional functionality available from Advanced-Style Dealing Rates Window:
Set number of columns - choose "Set number of columns" from the pop-up menu, following dialog box will appear:
Enter the number of columns. Click Ok.
You can set any number of columns.
Change Style of Cells - choose "Change style of cells" from the pop-up menu, choose from the following options:
[Sell Cur 1 ][Buy Cur 1 ]
[Sell][Buy]
Untitled Sell & Buy
Header Left Align
Header Center Align
Header Right Align
Show Direction Arrow
Red upwards-pointing arrow – price moved up
Blue downwards-pointing arrow – price moved down
Black circle – price did not change
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