Forex Trading UM 3 - Dealing Rates Window


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	Forex Trading User Manual - 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 of Dealing Rates Window Styles: Original:



	and Advanced: Note: To switch to advanced style please check "New Dealing Rate Style" from the tool bar titled Window.



	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 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.



	Forex Trading - Top of Dealing Rates Window Page


	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

	Forex Trading - Top of Dealing Rates Window Page

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