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OVERVIEW OF FX STATION 2003 |
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The FX Station 2003 is a newly-upgraded
FX trading system using the latest advancements
in Internet technology. It is totally
Java-based and does not require any
program installation on the user end.
This new full-featured margin trading
system only requires an Internet browser
and a one time download of Java Plugins
from Sun Microsystems. It enables efficient,
fast and safe execution of FX deals,
where the latest dealing prices are
constantly published to every client
logged on.
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The FX Station 2003 was developed specifically to
provide dealing advantages such as price
transparency, fast execution of trades,
instant Profit and Loss Equity reporting,
instant Order and Position reporting,
and electronic Limit and Stop order
placement to the spot currency investor.
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TRADING INTERFACE |
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DEALING RATES WINDOW |
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The Dealing
Rates window displays the real-time
rates of the seven (7) currencies in
the system.
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Open New Positions : Market Order |
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To open a new position, click on
the currency rate (Sell or Buy) field
or right click on your mouse on the
currency rate (Sell or Buy) field and
choose Market Order from the pop-up
menu. The Amount input screen will appear.
Enter the desired amount (measured in lots)
and click on ok. Upon confirmation of
the Market Order, the new position will
be displayed at the open position window.
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Limit Order for New Position :
Entry Order |
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To place a limit order to open a new
position, right-click on your mouse
on the currency rate (Sell or Buy) field
and choose Entry Order.
Enter the desired amount in lots,
adjust the price, and click on ok.
NOTE: ENTRY ORDER PRICE MUST BE
30 PIPS AWAY FROM THE CURRENT MARKET
PRICE.
Upon confirmation of this process,
the Entry Order will be displayed
in the Trader's Order window.
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TRADER'S ORDERS WINDOW |
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This window displays the Trader's
desired Entry order waiting for
execution. It shows the currencies
to Buy or Sell with a time stamp
on the time placed. Upon execution
of Entry Order, the position will
be displayed at the Open Position
window.
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Change Price of Entry Order
To change the price of Entry Order,
right-click on the mouse and choose the
Change Price command from the
pop-up menu. Amend to the desired
price and click on ok.
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Remove Entry Order
Select the currency order record
and right-click on the mouse.
Choose the Remove Order command
from the pop-up menu. Selected
order will be removed.
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Placing Stop & Limit
Order for Entry Order
Stop & Limit order can be
placed before the Entry Order
is actually carried out. To place
Stop or Limit, right-click on
the mouse and choose Stop or Limit
command from the pop-up menu.
Key in the desired price and press
ok. Upon execution of Entry Order,
the entry position, stop or limit
order will be displayed in the
Open Positions window.
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OPEN POSITIONS WINDOW |
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The Open Positions window displays all
open positions and allows placing/removing
of Stop and Limit orders as well as
closing the position. It also displays
the realtime Net Profit and Loss, Commissions
and Premiums (Overnight Interest).
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Place Stop Order |
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Right-click on the mouse within the
position record and choose the Stop command
from the pop-up menu. The Stop dialog
box will appear:
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Place Limit Order |
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Right-click on the mouse within the
position record and choose the Limit command
from the pop-up menu. The Limit dialog
box will appear.
Enter the desired Limit price and click
on submit. The Limit price will appear
within the position record.
NOTE : PLACING STOP OR LIMIT ORDER
PRICE MUST BE 30 PIPS AWAY FROM CURRENT
MARKET PRICE.
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Close Position
Right-click on the mouse within the
position record and choose the Close Position
command from the pop-up menu. The selected
open position will be closed by the
price displayed on the Close Position
dialog box.
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Hedge Position
To hedge an open position on the current
market price, select the position record
and right-click on the mouse. Choose
Hedge position command from the pop-up
menu and the selected open position
record will be hedged on the current
market price.
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Close Hedge
Position
This function is only allowed for Traders
to close hedged positions or in Margin
Call 2 situation. Upon choosing the Close
Hedged Position command from the pop-up
menu, the hedged currency will automatically
close at the current market price in
pairs.
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Change Price
on Stops and Limits Order
Click on the rate (Stop or Limit) field
within the position record or right-click on the mouse within the position
record and choose Change Stop or Change
Limit command from the pop-up menu.
The Stop or Limit dialog box will appear.
Enter the desired Stop or Limit price
and click ok.
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Remove Stops
and Limits Order
Right-click within the position record
and choose the Remove Stop or Remove Limit
command from the pop-up menu. The Stop
or Limit order will be removed.
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CURRENCY REFERENCE RATES WINDOW |
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This displays
the currency rates information,
the high and low of the currencies
for the trading day, and premiums
(%) calculation on overnight open
positions for each currency.
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ACCOUNT INFORMATION WINDOW |
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The
Account Information window displays
values representing the status
of the Trader's account(s), margin
used, equity and usable margin.
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Reports
Right-click on the mouse within
the account record and choose the
Report command from the pop-up
menu. A new browser window will
appear. The trader can choose the desired
report in Daily, Weekly, Monthly,
Quarterly, Yearly, Since Open
and User Define in M/Y format.
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Trading Ratio
The Trading Ratio is used to allow the
Trader to predefine the default
amount of contracts (lots) to
be used when opening a position
on the particular account.
Click on the TR field within the
account record and the Trading
Ratio dialog box will appear.
Enter the desired amount measured
in lots and press ok.
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SUMMARY BY ACCOUNT WINDOW |
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This window displays
the number of opened positions
held by the Trader, Break-Even
Price, and realtime Net Profit
and Loss.
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TRADING HISTORY INTERFACE |
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(Click the picture
to see whole image of interface)
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The Trading History
Interface displays latest completed
deals (closed positions) in chronological
order. (Last 30 records are listed).
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CHARTS & TECHNICAL TOOLS |
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GBP/USD
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Tick
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1 Min
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5 Min
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15
Min
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60
Min
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Daily
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EUR/USD
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Tick
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1 Min
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5 Min
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15
Min
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60
Min
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Daily
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USD/JPY
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Tick
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1 Min
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5 Min
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15
Min
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60
Min
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Daily
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USD/CHF
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Tick
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1 Min
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5 Min
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15
Min
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60
Min
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Daily
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GBP/JPY
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Tick
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1 Min
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5 Min
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15
Min
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60
Min
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Daily
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EUR/GBP
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Tick
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1 Min
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5 Min
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15
Min
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60
Min
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Daily
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EUR/JPY
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Tick
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1 Min
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5 Min
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15
Min
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60
Min
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Daily
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Available Charts:
1. Bar Chart
2. Candle Chart
3. Line Chart
4. Scatter Chart
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TRADING RULES FOR FOREIGN EXCHANGE TRANSACTIONS
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Currency
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EUR/USD
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GBP/USD
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USD/JPY
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USD/CHF
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AUD/USD
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NZD/USD
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USD/CAD
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(in
EUR)
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(in
GBP)
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(In
USD)
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(In
USD)
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(in
AUD)
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(in
NZD)
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(in
USD)
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Contract
Size
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100,000
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100,000
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100,000
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100,000
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100,000
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100,000
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100,000
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Minimum
Price Movement
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0.0001
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0.01
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0.0001
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0.0001
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0.0001
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0.0001
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0.0001
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Trading
Hours
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Sunday
7.00pm EST to Friday 3.00pm
EST (Summer Time) - 4.00pm
EST (Winter Time)
System close for trading
Friday 3.01 EST (Summer
Time) -
4.01pm EST (Winter Time)
to Sunday 6.59pm EST |
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(in USD) |
(in USD) |
(in USD) |
(in USD) |
(in USD) |
(in USD) |
(in USD) |
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Day
Trade Margin (7pm EST
to 3pm EST)
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1,000
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1,000
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1,000
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1,000
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1,000
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1,000
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1,000
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Night
Trade Margin (3pm
EST to 7am EST)
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2,000
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2,000
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2,000
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2,000
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2,000
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2,000
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2,000
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Calculation
of Profit & Loss
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For
GBP, EUR, AUD, NZD - (Selling
Price - Buying Price)
x Contract Size x Qty
For USD/JPY, USD/CHF,
USD/CAD
(Selling Price - Buying
Price) / Exit Price
x Contract Size x Qty
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Calculation
of Interest Premiums
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USD/JPY,
USD/CHF, USD/CAD
Contract size (100,000)
x open buy or sell interest
rate x no. of lots x
1 day ( x3 on Fridays)
-------------------------------------------------------
360 days
GBP/USD, EUR/USD,
AUD/USD, NZD/USD
Contract size (100,000)
x open buy or sell interest
rate x no. of lots x
1 day (x3 on Friday)
x open price
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360 days
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MARGIN CALLS |
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Margin Call 1
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Occurs when an account¡¯s
Equity < 70% of Used
Margin (based on Night Trade
margin requirements) at
Day Trade Closing or (3:00
pm EST). |
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MC (1) will be marked
on that particular account. |
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Opening of a new position
is prohibited including
processing of Entry Order,
Stop and Limit Orders. |
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Trader will receive Margin
Call Level 1 message stating
that additional deposit
is required to make Equity
> Used Margin or close
one or more open position
to reduce Used Margin to
the level of Equity >
Used Margin. |
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If no action is performed
by the Trader to make changes to the account's
Equity > Used Margin
within 24 hours, the System
will close all open positions
in this account at the Day
Closing Time (3.00pm EST) |
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If the Trader performs
the action required, Margin
Call level 1 marked is removed
from the account. |
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Margin Call 2
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Occurs when account's
Equity < 30% of Used
Margin (based on Day Trade
margin requirements) at
any given time. |
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System will automatically
hedge all open positions. |
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MC (2) will be marked
on the particular account. |
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Opening of new position
is prohibited including
processing of Entry Order,
Stop and Limit Orders. Only
Closing Hedge Position is
allowed. |
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Trader will receive Margin
Call Level 2 message stating
that additional deposit
is required to make Equity
> Used Margin or close
one or more hedged pair
positions to reduce Used
Margin to the level of Equity
> Used Margin. |
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If action is performed
by the Trader resulting
Equity >= Used Margin,
the Margin Call Level 2
mark is removed from the
account. |
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If no action is performed
by 3 pm EST by the Trader
to make Equity >= Used
Margin, all open hedged
positions will be closed
at the next trading day
closing time. |
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Short Margin
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Occurs at any time when
Balance < 100% of Used
Margin.. |
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Short Margin (SM) will
be marked on the particular
account. |
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Opening of new positions
is prohibited. |
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Trader will receive Short
Margin message stating that
additional deposit is required
to make Balance >= Used
Margin or close one or more
of the open positions to
reduce the Used Margin to
the level of Balance >=
Used Margin. |
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If action is performed
by the Trader before Day
Closing Time (3.00pm EST),
resulting Balance >=
Used Margin, the SM mark
is removed from the account. |
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If no action is performed
by the Trader before Day
Closing Time (3.00pm EST),
the system will close all
open positions. |
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If Short Margin had occurred
during night margin trading
hours (3.00pm to 7.00pm
EST), trader should immediately
close one or more open position
to reduce the Used Margin
to the level of Balance
>= Used Margin. If no
action is performed by the
trader, system will close
all open position at Day
Opening Time (7.00pm EST). |
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for more information. 
