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Quick Trade Guide for FX

FX Quick Trade Ticket ODE

  1. By default this will be your main account. If you have additional subaccounts in other currencies, you can choose specific subaccount where you want to book your trade.
  2. Instrument (EURUSD) - displays the instrument that you wish to trade. 
  3. FX Options product icon - allows you to launch and toggle between an FX Option Trade Ticket and an FX Spot Trade Ticket. If you want to trade FX Options, but do not see this icon, contact DNB Trade.
  4. Search icon - allows you to search for and select from our extensive range of instruments. Your selection will update the Trade Ticket to display the instrument that you wish to trade.
  5. Type - select the order type that you wish to use to enter a position:  Quick Trade orders for immediate execution, with or without a predefined Price Tolerance. Resting Limit, Market and Stop orders for longer durations i.e Day Order, Good Till Cancelled and etc. 
  6. Amount - the notional amount (of the base currency) that you wish to trade. When trading large amounts we now provide partial fills, meaning that if we can’t fill your entire order, we’ll fill you at the maximum amount available.
  7. SELL/BUY prices - click Buy or Sell to place a Limit Order with a pre-defined Price Tolerance. Adding Price Tolerance ensures that your order is only executed within a range that you are comfortable accepting (see Edit Price Tolerance). The minimum price (when selling) and maximum price (when buying) are displayed on the Trade Ticket below the Spot Price i.e. ‘Limit @ 1.1237/1.1241’.

FX Trade Ticket with Tolerance

  1. Edit Price Tolerance - price tolerance enables you to define the minimum price (when selling) or maximum price (when buying) that you are comfortable accepting (i.e. a Limit Order) when entering a position. Price tolerance can specified in pip (i.e. 0.1 pips) or percentage terms (i.e. 0.01%). The default is set to 0.01% of the Spot Price for all currency pairs, but is configurable on an individual currency pair level. E.g. If EURUSD is trading at 1.11660 / 1.11662 and you add Price Tolerance of 1.0 pips. The maximum price that you will pay to sell is 1.11650 (1.11660 – 0.00010), and the maximum price that you will pay to buy is 1.11672 (1.11662 + 0.00010).
  2. Remove Price Tolerance - allows you to remove the option of adding Price Tolerance. This changes the Quick Trade order from a Limit Order to a Market Order.
  3. Value date -for an FX Spot Trade Ticket, this will display the Spot Date (Value Date). From here you can select a Forward Date to trade to.
  4. Add Take Profit/ Stop loss - add a related Stop Loss and/or a Take Profit order to your order.
  5. Margin impact - this displays how much of your available margin will be used for the selected notional amount (of base currency) that you wish to trade.

FX Trade Ticket Price Tolerance with default value

  1. ON/OFF - enable (On) or Disable (Off) price tolerance
  2. PIPS - set your tolerance in pip terms, in increments of 0.1 pip (1/10th of a pip).
  3. PERCENT - set your tolerance in percentage terms, in increments of 0.01 percent (1/100th of 1 percent or 1 basis point).
  4. Price - shows you the bid/ask price, inclusive of the pre-defined tolerance.
  5. Order Type - clearly labels your order as Limit order.
  6. Duration - I.O.C means Immediate or Cancel. All Quick Trade orders have an I.O.C. duration.

Published on 2016 11 11