Client Station FX Help
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Client Station FX Help Client Station FX Help Document Transcript

  • Client Station FX Help
  • Table Of Contents Logging On and Off.................................................................................................... 3 Installation and Setup ............................................................................................... 5 Computer Requirements .......................................................................................... 5 Hardware Requirements .......................................................................................................................... 5 Operating System Requirements............................................................................................................. 5 Trading System Setup Procedure - Simulation ............................................................. 6 Trading System Setup Procedure - Live Trading System Only ........................................ 6 Internet Connection Settings .................................................................................... 7 Firewall and Proxy Communications........................................................................................................ 7 Internet Connection Settings.................................................................................................................... 7 How to Tell if you can use Strong Encryption .......................................................................................... 8 Optimal Client Station Communications Setup ........................................................................................ 9 Raw Protocol Direct (TCP/IP port 1001) .................................................................................................. 9 Alternative Firewall Setup ........................................................................................................................ 9 HTTP Tunneling via HTTP Proxy............................................................................................................10 SOCKS Proxy .........................................................................................................................................11 Direct HTTP Tunneling ...........................................................................................................................11 To Change your Client Station Login Password .......................................................... 12 Downloading Module Upgrades................................................................................ 13 Customising Client Station...................................................................................... 13 Client Station Views ................................................................................................................................13 Adding, Renaming and Deleting Views...................................................................................................14 Adding Trading Modules to a View .........................................................................................................16 Removing Trading Modules from a View ................................................................................................16 Client Station Workspaces......................................................................................................................16 Other Setup Options ...............................................................................................................................17 Client Station Toolbars............................................................................................................................17 Troubleshooting .................................................................................................... 18 Connection Errors ...................................................................................................................................18 Key Errors...............................................................................................................................................20 General Application Errors......................................................................................................................21 Trading Errors Codes..............................................................................................................................23 Forex Trading ...........................................................................................................27 Forex Trading Modules ........................................................................................... 27 To Trade Spot Forex .............................................................................................. 29 To Place a Forex Trade Orders ................................................................................ 30 How to Trade Forex Options ................................................................................... 31 To Trade Forex Forward Outright............................................................................. 32 To Close or Reduce a Forex Position......................................................................... 33 Open Forex Positions ............................................................................................. 34 Forex Trading Conditions........................................................................................ 35 Forex Prices Module............................................................................................... 35 How to add Forex Crosses to the Price List............................................................................................36 How to Remove Forex Crosses from the Price List ................................................................................36 How to Change the Display ....................................................................................................................36 i
  • Table Of Contents How to Drag and Drop a Forex Cross to the Forex Trade Module..........................................................38 Account ....................................................................................................................39 Account Summary................................................................................................. 39 Client Summary ......................................................................................................................................39 Client Summary ......................................................................................................................................40 Account Summary ..................................................................................................................................41 Open Forex Positions .............................................................................................................................42 To Reset your Simulation Account..........................................................................................................42 Selecting Language ................................................................................................................................43 Activity Log .......................................................................................................... 43 Online Trade Recaps (Live Clients)........................................................................... 45 Trade Recaps for Live Clients Only ........................................................................................................45 Trading Conditions ................................................................................................ 45 Trading Conditions..................................................................................................................................45 Forex Trading Conditions........................................................................................................................45 Open Orders .............................................................................................................49 To Change an Order .............................................................................................. 49 To Cancel a Trade Order ........................................................................................ 50 Charts.......................................................................................................................51 Setting up the Time Scale ...................................................................................... 51 Chart Information Points ........................................................................................ 51 Lines and Guides................................................................................................... 52 Show Chart Cross-Hairs .........................................................................................................................52 Horizontal Lines and Guides...................................................................................................................53 Freehand Guides ....................................................................................................................................53 Parallel Guides .......................................................................................................................................54 Deleting Guides ......................................................................................................................................54 Studies (analysis tools) .......................................................................................... 55 Available Chart Studies...........................................................................................................................55 Moving Averages Convergence/Divergence (MACD) .............................................................................55 Moving Averages (Exponential) ..............................................................................................................56 Relative Strength Index (RSI) .................................................................................................................58 Momentum..............................................................................................................................................59 Price Oscillator........................................................................................................................................60 Rate of Change (ROC) ...........................................................................................................................61 Stochastic Slow ......................................................................................................................................62 Bollinger Bands.......................................................................................................................................63 Fibonacci Fan .........................................................................................................................................64 Fibonacci Bands .....................................................................................................................................64 Zooming in to a Chart Segment .............................................................................. 65 Share Trade Volume .............................................................................................. 65 Open Interest ....................................................................................................... 66 Logarithmic Price Scale .......................................................................................... 67 Glossary ...................................................................................................................69 Index........................................................................................................................77 ii
  • Welcome to the Client Station Help LEGAL * Other companies and corporate names may be trademarks of other companies NOTICE and are used only for explanation and to the owners’ benefit, without intent to infringe. THIS HELP This Help covers both the simulation and trading versions of Client Station allowing trading of: Forex 1
  • Logging On and Off Logging On and Off LOGGING When you launch Client Station, the Login dialogue is displayed: ON Log in using the Login given and the Password you chose during registration. REMEMBER Select Remember Password to automatically enter your Login and PASSWORD Password whenever you start the Client Station. Access authorisation will then rely on your PC security. Note: Selecting Remember Password effectively disables password protection of your Client Station. CHANGING You can change your password by selecting Tools > Change Password in YOUR Client Station. PASSWORD WORK If for any reason you cannot connect to the trade server over the Internet, OFFLINE for example, because of Firewall / Proxy that does not allow access, click Work Offline to start Client Station with access to the connection settings only. Note: you do not need a login and Password to start Client Station in off-line mode. LOGGING You will be logged off automatically when you close the Client Station. You OFF can also log off by selecting File > Logout. 3
  • Installation and Setup Computer Requirements Hardware Requirements Hardware Requirements Client Station requires a PC with the following minimum and recommended specifications: Minimum Recommended CPU Intel* 486 or instructions set Pentium* 200 MHz or faster compatible FREE HARD DISK 5 Mbytes 7 Mbytes or more SPACE VIDEO 800x600, 256 colors 1024x740, True color (32 bit) colors MODEM/INTERNET 28 Kbps modem 56 Kbps or faster CONNECTION INTERNET Access to the Internet is required through an Internet Service CONNECTION Provider, either directly or from behind a firewall which allows HTTP traffic and TCP Traffic through Port 1001. Also refer to the Alternative Client Station configuration. MACINTOSH Client Station cannot be run on Apple Macintosh computers - for PC COMPATIBILITY emulation software is not supported. HAND-HELD Client Station cannot be run on handheld devices - Windows CE is not COMPATIBILITY supported Installation and Setup Operating System Requirements Client Station can be used on a PC with any of the following Windows* operating systems: • Windows 98/ME • Windows NT4.0 SP4 or later • Windows 2000 • Windows XP • Internet Explorer 4.01 or later must be installed but does not need to be the default browser. Installation and Setup 5
  • Client Station FX Help Trading System Setup Procedure - Simulation The simulation version of Client Station is ready to run as soon as you download it. The assigned Login and Password that you chose during registration will be sent to your email address. Use this Login and password to log into Client Station. Trading System Setup Procedure - Live Trading System Only Note: the simulation version of the Client Station cannot be used for live trading - the live trading version must be downloaded when you have opened an account and been registered as a client. The live trading version of the Client Station uses data encryption to allow secure communications with the trade server. During installation and setup of the live trading version, an encryption key must be generated in coordination with your account executive as follows: When you have opened a trading account: Download and install the Client Station. Log on using your Login and Password. Use your assigned Login and the Password you chose during registration. When you first log into the live Client Station, a dialogue will be displayed instructing you to generate a key. Click OK to acknowledge this dialogue. The Key management dialogue will open, allowing you to set up the security key for your trading system. Optionally, check the Use strong encryption checkbox to enable strong encryption if it is supported by your computer's operating system, see Use strong encryption. Click the Generate new key button to generate a security key. A dialogue will be displayed instructing you to contact your account executive to get your new key enabled. Click OK, Client Station will close automatically. If you are reinstalling Client Station or installing it on multiple computers, select Load Backup key instead, refer to Re-installing your security key. Contact your account executive to activate the new key. 6
  • Installation and Setup Restart and Log on to the Client Station again. BACKING UP YOUR SECURITY KEY We recommend that you make a backup copy of your security key in case you want to access your account from a different computer or re-install your operating system for example. See Backing up your security key Internet Connection Settings Installation and Setup Firewall and Proxy Communications FIREWALL AND PROXY SERVER SETTINGS Client Station communicates with the trade server via various TCP Ports and attempts to automatically detect the correct communications settings from your Internet Explorer setup and these settings can be manually adjusted on the Internet Connection Settings screen. If you are having problems using Client Station and you are situated behind a firewall or proxy server, check with your system administrator that the relevant ports are open as follows: PORT TCP/IP PORT 1001 This port is used for encrypted communications with the trade server and is used in the preferred operating mode as it allows faster data transfers between the server and the Client Station. If your site uses a firewall, this port must be opened for outgoing access to the trade server (the URL or AP Address parameter on the Internet Connection Setting screen should be configured with the DNS name of the trade server by default). If port 1001 cannot be opened (for example due to strict firewall policies), the Client Station can be set up to run in HTTP mode where all communications between the server and the Client Station use the HTTP protocol. This mode of operation is considerably slower than port 1001 communications. Refer to the Optimal Firewall Solution for the Connection Settings screen configuration for optimal Client Station operation. THE HTTP PORT (NORMALLY PORT 80) The standard HTTP protocol (port) is used for program downloads and for web page display in the Client Station. In addition to setting up your firewall and proxy server, you may also need to change the Internet connection settings used by the Client Station. Refer to the Alternative Firewall Solutions for these Connection Settings. Installation and Setup Internet Connection Settings ACCESS To access the Internet connection settings used by the Client Station, select Tools > Connection Settings: 7
  • Client Station FX Help Note: Client Station tries to determine the optimal connection settings based on your Internet Explorer configuration During installation. These settings should not change unless you are having communication problems, for example, because of an intermediate proxy and firewall. Changing these settings can cause operational problems with the Client Station. FIREWALL When using Client Station through a firewall, refer to: SETTING 1. Recommended mode of operation 2. Alternative modes of operation Click on the fields for a description Installation and Setup How to Tell if you can use Strong Encryption TO CHECK IF YOU SYSTEM SUPPORTS STRONG ENCRYPTION, OPEN INTERNET EXPLORER AND SELECT HELP > ABOUT INTERNET EXPLORER. IF THE CIPHER STRENGTH IS 128-BIT, YOU CAN ENABLE STRONG ENCRYPTION IN CLIENT STATION BEFORE YOU GENERATE YOUR SECURITY KEY. If the Cypher Strength is NOT 128 bit, and you want to use strong encryption, visit Microsoft and download and install the Internet Explorer High Encryption Pack. 8
  • Installation and Setup Installation and Setup Optimal Client Station Communications Setup The Connections Setting Screen settings listed below, configure the Client Station for the optimal communications (faster data transfers) between the trade server and the Client Station using TCP/IP port 1001. Note: if your site uses a firewall, Port TCP/IP port 1001 must be opened for outgoing access to the trade server before using this solution can be used (refer to your broker’s web pages for details about the specific URL or IP address of this server. Raw Protocol Direct (TCP/IP port 1001) Remote Server Settings The default setting when Client Station is installed should be correct and should not normally be changed. Trader Server Name If necessary, contact your account executive to get the correct URL for your Client Station. Use HTTP No Port 1001(must be open in Firewall) Proxy Server Settings Connect Via Proxy Server No SOCKS Protocol Version N/A Server Name N/A Port N/A Username N/A Password N/A Notes: Use this configuration if you have a Proxy/Firewall Client. No further proxy information should be required by Client Station. If your site uses a firewall, Port 1001 must be opened for the IP address or DNS name of the trade server. Advantages: This is the preferred operating mode as it allows faster data transfers between the server and the Client Station . Installation and Setup Alternative Firewall Setup The alternative Connections Setting Screen settings listed below, configure the Client Station for the communications between the trade server and the Client Station. If it is not possible to open the TCP/IP port 1001 due to strict firewall policies. 9
  • Client Station FX Help Note: Use of the optimal connections settings are recommended wherever possible as these setting allow faster, more efficient data transfers between the Client Station and the trade server. 1. HTTP Tunneling via HTTP Proxy. This has the advantage of not needing port 1001 to be opened but performance is lower than the raw protocol solution. 2. SOCKS Proxy 3. HTTP Tunneling Direct HTTP Tunneling via HTTP Proxy Remote Server Settings The default setting when Client Station is installed should be correct and should not normally be changed. If necessary, contact Trader Server Name your account executive to get the correct URL for your Client Station. Use HTTP Yes Port Not Applicable Proxy Server Settings Connect Via Proxy Server Yes SOCKS Protocol Version Not Applicable Server Name DNS or IP Address of HTTP Proxy Server Port Typically 80 or 8080 Username User ID for proxy authentication Password Password for proxy authentication Notes: If port 1001 cannot be opened (for example due to strict firewall policies), the Client Station can be set up to run in HTTP mode where all communications between the server and the Client Station use the HTTP Port. Advantages: Port 1001 does not need to be open on the firewall. Disadvantages: This mode of operation is considerably slower than the raw protocol solution. 10
  • Installation and Setup SOCKS Proxy Remote Server Settings The default setting when Client Station is installed should be correct and should not normally be changed. If necessary, contact Trader Server Name your account executive to get the correct URL for your Client Station. Use HTTP No Port 1001 (must be open in the Firewall) Proxy Server Settings Connect Via Proxy Server Yes SOCKS Protocol Version 4(a) or 5 Server Name DNS or IP Address of Socks Proxy Server Port Typically 1080 Username User ID for proxy authentication Password Password for proxy authentication (version 5 only) Notes: If your site uses a firewall, Port 1001 must be open for IP address or DNS name of the server. Advantages: This is a preferred operating mode as it allows faster data transfers between the server and the Client Station. Disadvantages: Requires a Proxy Server that supports the Socks Protocol. Direct HTTP Tunneling Remote Server Settings The default setting when Client Station is installed should be correct and should not normally be changed. Trader Server Name If necessary, contact your account executive to get the correct URL for your Client Station. Use HTTP YES 11
  • Client Station FX Help Port Not Applicable Proxy Server Settings Connect Via Proxy Server No SOCKS Protocol Version Not Applicable Server Name Not Applicable Port Not Applicable Username Not Applicable Password Not Applicable Notes: Advantages: Does not require Port 1001 to be opened in the firewall. Disadvantages: This mode of operation is considerably slower than the raw protocol solution. Installation and Setup To Change your Client Station Login Password Select Tools > Change Password from the Client Station menu. Type in your Old Password that you are currently logged in with. Enter your new Password. Confirm your new password in the Retype New Password field. Click OK to activate your new password. IF YOU LOSE YOUR PASSWORD Please contact your account executive. Installation and Setup 12
  • Installation and Setup Downloading Module Upgrades The Client Station checks if there are any updates available whenever you log on. If any of the Client Station components are missing or out of date, you will be asked if you want to update these components. 1. Select No to skip downloading the updates if you need to use Client Station urgently. Note that you should not skip updates for a long period of time. 2. Select Yes to download the updated components now. When the download is complete, the Client Station may have to be manually restarted. Note: In cases of major upgrades, you will not be allowed to continue without first upgrading. Customising Client Station Customising Client Station Client Station Views CLIENT The Client Station workspace is divided into a number of customisable Views to allow you to STATION organise your trading environment and information and to give you optimal use of your VIEWS available space. Views allow you quick access to a module layout and configuration using the tabs along the top of the Views. USE TABS To move around between different Views, use the tabs along the top of the workspace. You TO MOVE can also jump to a View by selecting it from the list of views in the View menu. BETWEEN VIEWS ADDING Add trading modules to a view from the Trading menu. When you exit Client Station, you will MODULES be asked if you want to save the changes. TO A VIEW CUSTOMISE Add, delete and rename views from the View menu. VIEWS 13
  • Client Station FX Help A TYPICAL VIEW SHOWING TRADE, CHART AND PRICES MODULES. Customising Client Station Adding, Renaming and Deleting Views CLIENT A number of default Views are set up in Client Station to get you started. You can STATION add, change or delete these Views to suit your own requirements. For example, VIEWS you may want a view set up for trading specific instruments such as DollarYen, where the Trade, charts and analysis modules are set up specifically for DollarYen. You will also typically want a view dedicated to a summary of your account. INSERT A 1. Right-click on the tab you want to insert a view before and select Insert NEW VIEW View from the right-click menu. Alternatively, select Insert View from the View menu. 2. Enter a name for the view in the dialogue displayed. 14
  • Installation and Setup 3. Select the existing View in front of which the new View will be inserted from the drop-down list. 4. Click OK. ADD A NEW To add a new View after the last View: VIEW 1. Right-click on any tab and select Add View from the right-click menu. Alternatively, Select View > Add View. 2. Enter a name for the new View. RENAME To rename a View: CURRENT VIEW 1. Right-click on the tab of the view you want to rename and select Rename View from the right-click menu. Alternatively, Open the view and select View > Rename View. 2. Enter the new name for the view and press Enter. DELETE To delete a View, right-click on the tab of the view you want to delete and select CURRENT Delete View from the right-click menu. Alternatively: VIEW 1. Select View > Delete View from the Client Station menu. Alternatively, 2. Select the name of the View you want to delete from the drop-down list. 3. Click OK. ADD To add modules to a View, open the view by clicking on its tab then add the MODULES modules you want from the Trading menu. VIEW REMOVE To remove modules from a view, close modules by clicking their close icon . MODULES FROM A VIEW SAVING If you have made changes to the Views or modules in the Client Station, you will CHANGES be asked if you want to save the changes when you Exit. Select No to discard the TO VIEWS changes or Yes to save them. To save the changes to a new workspace file, Cancel the Exit dialogue: 1. Select File > Save As. 2. Enter a name or select an existing file. 15
  • Client Station FX Help Filenames must end with .wsp, for example, MyDefault.wsp. 3. Click Save. Customising Client Station Adding Trading Modules to a View To add modules to a View in the Client Station: 1. Clicking on the tab to open the View. 2. Add module to the view from the Trading menu. Modules are available in submenus for trading products: 1. Forex 2. 3. Any number of modules can be added to a View but the space available will limit the size and number of modules that can be used effectively. Removing Trading Modules from a View Close modules by clicking their close icon . To save the changes permanently, select File > Save from the Client Station menu. Customising Client Station Client Station Workspaces In addition to Views, Client Station allows you to save any number of workspaces containing Views, trading module setups and module settings. For example, if you have defined a number of Views customised to your trading preferences with modules such as the Charts, the Prices and Trade Modules set up with the trading instruments you are most interested in, you may want to save your layout in a customised file and keep the default setup of the Client Station for backup purposes. To save the current workspace layout as a new workspace: 1. Select File > Save As. 2. Enter a name or select an existing file. File names are saved with a .wsp extension. 3. Click Save. The Client Station will always open the last workspace that you saved. Whenever you exit the Client Station, you will be asked if you want to save any changes you have made to the Views of modules. Installation and Setup 16
  • Installation and Setup Other Setup Options SETUP OPTIONS A number of setup options and preferences are available by selecting Tools > Options. Click on the fields for a description Customising Client Station Client Station Toolbars CLIENT The menus in Client Station can be customised to contain any combination of STATION trade modules to give easy access to the modules you most frequently use. TOOLBARS To customise a toolbar, select Toolbars from the Tools menu or click the arrow at the right of the toolbar. RELOCATING To relocate a toolbar, click on the TOOLBARS toolbar's handle (left-hand side) and drag it into position. 17
  • Client Station FX Help TO MANAGE Select the Toolbars tab: TOOLBARS The Toolbars screen allows you to: 1. Enable and disable toolbars by checking or unchecking any of the toolbars listed. 2. add New toolbars 3. Rename existing toolbars 4. Delete toolbars 5. Reset your toolbars to the factory default setting. TO ADD ITEMS Select Toolbars from the Tools TO A TOOLBAR menu and ensure the Commands tab is selected. 1. Select the menu to add the toolbar item from in the left-hand list. 2. Select the menu item to add to a toolbar from the Commands list. 3. Drag the item up to the toolbar in the position you want it. Troubleshooting Troubleshooting The following is a list of problems (and error codes) that have been encountered when installing and using the Client Station, and their possible solutions: Connection Errors ERROR MESSAGE POSSIBLE CAUSES/FIXES Could not Problems communicating with the trade servers due to firewall/proxy communicate to the problems. network server, error 3 - 407 proxy • Refer your network administrator to Firewall Info for Client Station authentication configuration alternatives. required • The Client Station connection settings are configured under Tools Error code 0, no > Connection Settings from the Client Station menu. bytes received timeout error code 0X80040002. 18
  • Installation and Setup Time out waiting for Problems communicating with the trade servers due to firewall/proxy Proxy reply, error problems. code 0x80040011 • The computer uses a proxy server for connection to the Internet that is not available or is not configured correctly. • Refer your network administrator to Firewall Info for Client Station configuration alternatives. Illegal Client ID: The Client ID is not recognised by the login server (you cannot be Error Code: authenticated by the trade server). 0x80040009 • Incorrect Login Entered, carefully check the Login. • Your simulation account has exceeded the 30-day trial period and has been automatically deactivated. Illegal Host Name The Client Station cannot connect to the trade server. 11001 • Incorrect host URL in Connection Settings, this is different for the Live and Simulation versions of the Client Station. • Your PC does not have a connection to the Internet - check the Internet connection, for example by opening your web browser and trying to connect to a web page. • The PC is connected to the Internet via a firewall/proxy which does not have the necessary port open. Refer your network administrator to Firewall Info for Client Station configuration alternatives. • The Internet Service Provider does not recognise the DNS name: 1. Select Tools > Connection Setting from the Client Station menu. 2. Delete the URL or Domain Name. 3. Enter the IP address of the Trade server name instead of the URL (the URL must first be deleted), for example 193.178.175.48 (live system) or 193.178.175.38 (simulation system). 4. Click OK to apply the new settings. Note: This should only be done as a last resort and the DNS name should be used where possible. Could not create The PC is using Windows 95 which is no longer a supported operating socket 10047 system. Please upgrade to Windows 98. Illegal password: The wrong password has been entered. Error Code 0x8004000b • Enter the password again exactly as noted in the email sent following registration. • If a password has been entered and remembered, delete the contents of the password box and then retype your password. 19
  • Client Station FX Help You are currently You are attempting to open Client Station (log into an account) twice. logged in from IP address x.x.x.x Close the first instance of the Client Station before opening another. Please close that connection before retrying to connect. : Error Code: 0x8004000b Key Errors ERROR MESSAGE POSSIBLE CAUSES/FIXES 0x8009005 - Could The Client Station cannot read the key correctly because: not decrypt session key, Key mismatch 1. Key not activated - contact your account executive to get your new key activated. 2. The key is not stored correctly on your PC. Use the following procedure to correct the problem: 3. Exit then restart the Client Station. 4. Select Tools > Key Management > Delete the current key from the Client Station menu. 5. Exit then restart the Client Station again. A dialog will be displayed during startup instructing you to ether re-import an existing key or generate a new key. Click OK. 6. Select Tools > Key Management > Generate new key from the Client Station menu. A dialog will be displayed instructing you to contact your account executive to get your new key enabled. Click OK, Client Station will close automatically. 7. Contact your account executive to activate the new key. 8. Optionally, select Tools > Key Management > Save current key to a floppy to save a backup of your new key. Enter a Pin code when prompted (any code with a minimum of 4 characters) to protect the key on the floppy. This pin code must be entered before the key can be extracted from the floppy. 9. Restart the Client Station to enable the new key. Could not restore Could not import the encryption key from the Client Station on one PC key from floppy, to another because of different encryption levels used by the Client Error code: Stations. Use the following procedure to correct the problem: 08009004 1. On the PC where the key is copied from, select Tools > Key Management from the Client Station menu and note whether the Use strong encryption checkbox is checked or not. 2. On the PC where the key is copied to, select Tools > Key Management and ensure the Use strong encryption checkbox is the same as on the original PC. 3. Select Load key from floppy and enter the Pin code to access the key when prompted. A dialog will be displayed when the key has been successfully loaded from the floppy. Click OK to automatically restart Client Station and enable the 20
  • Installation and Setup key. Could not restore Could not load the encryption key into the Client Station. Use the key following procedure to correct the problem: 1. Format a floppy on the PC that is going to receive the key (the new instance of the Client Station). 2. Insert the disc in the PC where the key is to be copied from and select Tools > Key Management from the Client Station menu. Select Save current key to a floppy to save a backup of your new key and enter a Pin code when prompted (any code with a minimum of 4 characters) to protect the key on the floppy. This pin code must be entered before the key can be extracted from the floppy. 3. Insert the disc in the PC where the key is to be copied to and select Tools > Key Management and select Load key from floppy and enter the Pin code to access the key when prompted. When the key has successfully loaded A dialog will be displayed when the key has been successfully loaded from the floppy. Click OK to automatically restart Client Station and enable the key. If this does not work, on the PC receiving the key: 4. Reinstall the Client Station. 5. Select Tools > Key Management, select Load key from floppy and enter the Pin code to access the key when prompted. A dialog will be displayed when the key has been successfully loaded from the floppy. Click OK to automatically restart Client Station and enable the key. General Application Errors ERROR (MESSAGE) POSSIBLE CAUSES/FIXES A newer version of Attempting to install the Client Station from an old installation file that this application is was saved on your computer and is no longer valid. Download and on the server. install the Client Station again. Please re-download this installation. Connection Wrapper This can occur during upgrade of the Client Station. Some files have :: INIT OBJECT class not been registered. Download and install the Client Station again. not registered, client station failed to initialise connection object. Getting the upgrade The Client Station is not being upgraded correctly. This is possibly message repeatedly caused by an intermediate proxy server caching old upgrade files and when logging into sending them to the Client Station instead of newer upgrade files. 21
  • Client Station FX Help the Client Station • Download and reinstall the Client Station. • If the problem persists, refer the case to technical support for further investigation. CFD Module receives If CFD trading should be allowed in your account: no price updates • The account may not allow CFD trading. Contact your account executive to get CFD trading enabled. Forex Trade module If Forex trading should be allowed in your account, contact your not available in account executive to ensure that Forex trading is enabled. Trading > Forex menu Could not view The PC running the Client Station is running non-compatible regional ',000' in the amount settings. on the Forex Trading bar Change the regional settings of the PC to use your preferred digit separators and decimal symbols: 1. Open the Control Panel on your PC by selecting Start > Settings > Control Panel. 2. Select Regional Options. 3. Select the Numbers tab. 4. Select your preferred Decimal symbol and Digit grouping. Note: the Decimal symbol and Digit grouping must be different. For example, if the Decimal symbol is the point symbol ('.'), the Digit separator must not be the point symbol and is usually the comma symbol instead. 5. Select OK to apply the new settings and close the Regional Setting dialog. Operation return Client Station is not registered correctly in the PC's operating system - code = reinstall the Client Station. regdb_e_class not read (80040154) Summary module – Use the following procedure to rectify the problem: Sorry you aren't entitled to use this 1. Close the Client Summary in Client Station function 2. Close Client Station and select Yes when asked if you want to save changes. 3. Restart Client Station and log on. 4. Open the Client Summary (Account > Client Summary from the Client Station menu). Troubleshooting The following list of error codes can be encountered when trading using Client Station,: 22
  • Installation and Setup Trading Errors Codes ERROR MESSAGE REJECT ClmAccepted = 0 Trade accepted. The trade was rejected because the instrument type ClmIllegalInstrumentType = 1 cannot be traded from your account. The trade was rejected because the instrument is ClmIllegalInstrumentId = 2 unknown. The trade was rejected because you specified an ClmIllegalAmount = 3 illegal amount or quantity of the instrument. The trade was rejected because you specified an ClmIllegalStrike = 4 illegal strike price for the option. The trade was rejected because the price currency ClmAmountInPriceCurNoAllowed = amount must correspond to a whole amount of the 5 trade currency. The trade was rejected because you are not allowed to ClmInstrumentNotAllowed = 6 trade in this instrument. The trade was rejected because the account you are ClmIllegalAccount = 7 trading from is illegal. The trade was rejected because you specified an ClmIllegalDate = 8 illegal date. The trade was rejected because the market that the ClmMarketClosed = 9 instrument is traded on is closed. The trade was rejected because the dealer is currently ClmDealerIsBusy = 11 handling another request for this account. The trade was rejected because a dealer is not ClmDealerIsUnavailable = 12 currently available. ClmTradeMismatch = 13 A mismatch between request and the system status. The trade was rejected because there was no valid ClmNoValidQuote = 14 quote given to base your trade on. The trade system request type is unknown or not ClmIllegalRequest = 15 supported. ClmOrderNotFound = 16 The requested order ID could not be found. The dealer cannot currently give a quote for this ClmDealerCantQuote = 17 instruments. 23
  • Client Station FX Help ClmPriceOff = 18 The dealer cancelled the quote. The request could not be completed because to ClmAccountChanged = 19 switched to a different account. ClmDealerDisconnected = 20 The dealer has disconnected. The quote has was valid for a short period and has ClmQuoteHasTimedOut = 21 automatically timed out. ClmBusinessRuleViolation = 22 There was a violation of our internal business rules. You cancelled the price quote request before the ClmClientCancelsQRequest = 23 quote was given. You cancelled the price quote after the quote was ClmClientCancelsQuote = 24 given. ClmClientCancelsExecute = 25 Client cancels execute There was an internal server error and your request or ClmServerError = 26 trade could not be processed. You have insufficient funds on your account for this ClmInsufficentCash = 27 trade. The trade was rejected because you would exceed ClmWouldExceedMargin = 28 your minimum margin requirements, see Trading on Margin. The trade was rejected because your margin ClmMarginBorderLine = 29 requirements are on the border of being exceeded, see Trading on Margin. The trade was rejected because you attempted to short sell an instrument where short selling is not ClmNotOwned = 30 allowed. For these instruments, you must own (buy) the instrument before you can sell it. The trade was rejected because the guaranteed stop is ClmToCloseToMarket = 31 too close to the current market price for the instrument. ClmClientCancelsPlace = 32 You cancelled an order before completion. The trade was rejected because the trade size was ClmToSmallTrade = 33 below the Minimum trade size allowed for the instrument. The trade was rejected because the quote became ClmReQuoteRequired = 34 invalid. Request a requote. The order was rejected because the price is on wrong ClmOnWrongSideOfMarket = 35 side of market. That is, the current market price is: 24
  • Installation and Setup • below the order price for a limit buy order • above the order price for a limit sell order • above the order price for a stop buy order • below the order price for a stop sell order The trade was rejected because a trade on the ClmRepeatTradeOnAutoQuote = 36 automatically quoted price has already been placed. Only a single trade is allowed on a price quote. The order could not be cancelled because as it is being ClmTooLateToCancelOrder = 37 executed or dealt with by some other process. ClmBrokerOption = 38 Broker Option ClmDealerCantTrade = 39 The dealer rejected your trade. The order was rejected because price was too far from ClmToFarFromMarket = 40 the current market price. The trade was rejected because there are no units are ClmFundClosed = 41 currently available in the selected managed fund - the fund is closed. The trade was rejected because there are not enough ClmFundUnitsNotAvailable = 42 units currently available in the selected managed fund to meet request. The trade was rejected because short trading in the ClmShortTradeDisabled = 43 instrument is not allowed. The trade was rejected because trading in the selected ClmInstrSuspended = 44 instrument is currently suspended. ClmTradeNotCompleted = 45 The trade could not be completed. ClmAlreadyPendingCancelReplace The trade could not be canceled as a pending cancel = 46 request is already being processed. The trade was rejected because trading in the selected ClmOrderStale = 47 instrument is currently suspended. The order could not be changed because it is being ClmTooLateToChangeOrder = 48 executed or dealt with by some other process. The trade was rejected because the instrument is not ClmNotTradableAtPresent = 49 currently tradable. ClmDirectAccessNotAllowed = 50 The instrument is only available for trading off-line. 25
  • Forex Trading Forex Trading Forex Trading Modules MODULES FOR All Forex trading modules are accessed from the Trading > Forex menu in TRADING Client Station. Forex trading modules include: FOREX The Forex Trade module that allows you to trade Forex directly (spot trade) or by order. The Forex Prices module to display live Bid and Ask prices for any number of Forex crosses. Forex Chart Modules to help you make your Forex buy and sell decisions. A number of analysis are also available to help you make your Forex trading decisions. FOREX Select Trading > Forex > Forex Trade from the Client Station menu. TRADE MODULE Click on the fields for descriptions 27
  • Client Station FX Help TRADE The Forex trade module allows you to: TYPES • Spot trade Forex on a tradable price quote • Place market, limit and stop orders to trade Forex • Place forward outright orders to trade Forex at a forward date at a fixed price • Trade Forex options FOREX Select Trading > Forex > Forex Prices from the Client Station menu. PRICES MODULE SPOT The Forex Prices module displays live, tradable Bid and Ask prices for any PRICES number of Forex crosses with no delay FOREX Select Trading > Forex > Charts from the Client Station menu. CHART MODULES Go to the Instrument menu on the chart, select All crosses> then select the Forex. 28
  • Forex Trading Many types of chart and analysis are available to help you make your Forex trading decisions. Forex Trading To Trade Spot Forex FOREX TRADE MODULE Forex is traded using the Forex Trade Module. To open the Forex Trade Module, select Trading > Forex > Forex Trade Module. Other modules are available from the Trading > Forex menu to help you trade Forex such as the Prices, Charts and Information modules. SPOT TRADING FOREX To trade spot Forex immediately on a live quoted price: Click on the fields for descriptions Select the Account to trade from. Ensure that Spot is selected for the trade type. Select the Forex currency-pair (cross) from the drop-down lists. Enter the amount ( Amt. ) of Forex to buy or sell. If the Bid/Ask fields are green, click Enable to enable you to buy and sell the currency immediately. If the Bid/Ask fields are not green, click Live Price - a tradable price will be offered within a few moments. Note: The offered price is only valid for a short while after which a new price must be requested. Click Buy or Sell to trade on the price offered. TRADE SUCCESSFUL A confirmation will be displayed if your trade is successful. Forex Trading 29
  • Client Station FX Help To Place a Forex Trade Orders FOREX TRADE MODULE Forex is traded using the Forex Trade Module. To open the Forex Trade Module, select Trading > Forex > Forex Trade Module. Other modules are available from the Trading > Forex menu to help you trade Forex such as the Prices, Charts and Information modules. FOREX TRADE ORDERS The Place an Order screen is used for placing Limit, Stop (Stop, Stop if Bid or Stop if Offered) to trade Forex when the unit price hits a defined level and Market orders to trade as soon as possible. To place a Forex trade order: Click on the fields for descriptions Select the account to trade from. Select Place Order for the trade type. Select the Forex currency- pair (cross) from the drop- down lists. Enter the amount (Amt.) of Forex to buy or sell or select the amount from the drop- down list. 30
  • Forex Trading Select if this is a Buy (to buy) or Sell (to sell) order in the Buy/Sell field. Select Limit, Market or a Stop order for the order Type. For Limit and Stop orders, select Day Order (DO) or Good Til Cancelled (GTC). For Limit orders, enter the Price to trigger the trade. For Stop orders, enter the stop-loss Price to close the position. Click Place Order to complete the order. ORDER SUCCESSFUL A confirmation will be displayed if your order is successful. OPEN ORDERS Open orders are shown in the Open Order module and can be cancelled or changed at any time before they are executed. Forex Trading How to Trade Forex Options FOREX TRADE MODULE Forex options are traded using the Forex Trade Module. To open the Forex Trade Module, select Trading > Forex > Forex Trade Module. Other modules are available from the Trading > Forex menu to help you trade Forex and Forex options such as the Prices, Charts and Information modules. TRADING FOREX OPTIONS 31
  • Client Station FX Help To trade Forex options on a live quoted price: Click on the fields for descriptions Select the account to trade from. Select Option for the trade type. Select the Forex currency-pair (cross) from the drop-down lists. Enter the amount (Amt.) of Forex to buy or sell. Select whether you want to Call (the right to buy) or Put (the right to sell) the Forex option in the Call/Put field. Select the Expiry date for the option. Option expiry dates from 7 days to 6 months can be quoted online. Select the Strike price for the option. Click Live Price - a tradable price will be transmitted by the bank within a few moments. Click Buy Option or Sell Option to trade on the price offered. TRADE SUCCESSFUL A confirmation will be displayed if your option trade is successful. Forex Trading To Trade Forex Forward Outright FOREX TRADE MODULE Forex forward outrights are traded using the Forex Trade Module. To open the Forex Trade Module, select Trading > Forex > Forex Trade Module. Other modules are available from the Trading > Forex menu to help you trade Forex and Forex options such as the Prices, Charts and Information modules. FOREX FORWARD OUTRIGHT TRADES The Forward Outright screen is used to buy or sell a currency at a future date at a fixed price. To place a Forex forward trade on a live quoted price: Click on the fields for descriptions Select the account to trade from. 32
  • Forex Trading Select Forward Outright for the trade type. Select the currency-pair (cross) from the drop-down lists. Enter the amount ( Amt. ) of Forex to buy or sell. Select the Forward date for the trade. Click Live Price - a tradable price will be transmitted by the bank within a few moments. Click Buy or Sell to trade on the price offered. ORDER SUCCESSFUL A confirmation will be displayed if your order is successful. Forex Trading To Close or Reduce a Forex Position CLOSING Forex positions are closed by making the reverse trade using the Forex Trade module. For FOREX example, if you bought 100,000 Dollar Yen, you must sell 100,000 Dollar Yen to close the POSITIONS position. FROM YOUR Forex positions can be closed directly from your Client Summary which can be opened by CLIENT selecting Trading > Account > Client Summary. SUMMARY Click on the fields for descriptions TO CLOSE Click the close icon next to a position to close it. This will launch the Forex Trade module with A the necessary trade set up to immediately close the position. POSITION TO Click the take profit icon next to a position to create a take profit order for the position. This RELATE A will launch the Forex Trade module with the necessary trade order set up to close the position TAKE PROFIT if the market hits or breaches a defined price level. ORDER TO A POSITION TO Click the Stop Loss icon next to a position to create a stop loss order for the position. This will RELATE A launch the Forex Trade module with the necessary trade order set up to close the position if STOP LOSS 33
  • Client Station FX Help ORDER the market moves against your position and hits or breaches a defined price level. TO A POSITION Account Module Open Forex Positions OPEN FOREX If you have multiple accounts, the Open Forex Positions for all accounts are displayed on the POSITIONS Client Summary screen. Open Forex Positions in an individual account are shown on the Account Summary screen (accessed by clicking on an Account ID on the Client Summary screen). CLOSED Closed positions will be removed from this list when they reach the Value Date of the closing POSITIONS trade. Click on the fields for descriptions TO CLOSE Click the close icon next to a position to close it. This will launch the Forex Trade module with A the necessary trade set up to immediately close the position. POSITION TO RELATE Click the take profit icon next to a position to create a take profit order for the position. This A TAKE will launch the Forex Trade module with the necessary trade order set up to close the position PROFIT ORDER TO if the market hits or breaches a defined price level. A POSITION TO RELATE Click the Stop Loss icon next to a position to create a stop loss order for the position. This will A STOP launch the Forex Trade module with the necessary trade order set up to close the position if LOSS ORDER TO the market moves against your position and hits or breaches a defined price level. A POSITION TRADE Click the related orders icon to open the list of related orders. Related orders are ORDERS RELATED distinguished by the following icons: TO A POSITION for limit orders for stop orders [ RELATED Open and closing trades that are related are listed together and shown using the linked icon [. TRADES INSTRUMENT Access full information for an instrument including charts, quotes and news by clicking on the INFORMATION symbol for the instrument. Account Module 34
  • Forex Trading Forex Trading Conditions TO ACCESS To access the Forex trading Conditions for an account, click on Trading FOREX Conditions on your Account Summary screen and select Forex Trading TRADING CONDITIONS Conditions from the drop-down list. Forex Trading Conditions show the current costs and trading conditions associated with trading Forex from the account. Click on the fields for descriptions This screen is shown for example only and the trading conditions shown on this screen may not be the current trading conditions. Forex Prices Module Forex Spot Prices Module FOREX SPOT PRICES The Spot Prices module displays live, tradable Bid and Ask prices for MODULE any number of Forex crosses with no delay. TO OPEN THE FOREX Select Trading > Forex > Forex Prices from the Client Station SPOT PRICES MODULE menu. 35
  • Client Station FX Help Forex Prices Module How to add Forex Crosses to the Price List 1. Click Show Controls. 2. Select the 1. the symbol for the Forex cross and press Enter. Enter the first few letters and select the Forex cross from the list. 2. The name of the Forex and press Enter. Enter the first few letters and select the Forex name from the list. How to Remove Forex Crosses from the Price List 1. Click Show Controls. 2. Select the cross in the list. 3. Click Remove Instrument. Forex Prices Module How to Change the Display TO ADD THE FULL DESCRIPTION OF THE FOREX CROSS 1. Right-click on the Forex Prices module. 36
  • Forex Trading 2. Select Show Description from the right-click menu. TO HIDE THE FULL DESCRIPTION OF THE FOREX CROSS 1. Right-click on the Forex Prices module. 2. Select Hide Description from the right-click menu. TO CHANGE THE FONT SIZE OF THE DISPLAY 1. Right-click on the Forex Prices module. 2. Select Font > [select font size] from the right-click menu. TO INCLUDE THE DATE IN THE LAST UPDATED FIELD 1. Right-click on the Managed Funds Prices module. 2. Select Show Date in Price Update from the right-click menu. Forex Prices Module 37
  • Client Station FX Help How to Drag and Drop a Forex Cross to the Forex Trade Module 1. Click on the Forex cross with your mouse. 2. Drag the symbol over to the Forex Trade module. 3. Release the mouse button. 38
  • Account Account Summary Account Module Client Summary CLIENT If you have multiple trading accounts, the Client Summary shows the combined trading status SUMMARY for all the accounts and all your positions in the different accounts. The Client Summary SCREEN Screen also gives access to Account Summary screens giving details of each individual account. TO OPEN THE To open the Account module, select Trading > Account > Client Summary. ACCOUNT MODULE The Account Module is available in a number of languages see selecting a language. Click on the fields for a description REFRESH The Client Summary screen will periodically refresh automatically. To force the screen to refresh immediately, click on the Refresh button (top right-hand corner of the screen). The last time (GMT) the screen was refreshed is also displayed. SUMMARY The summary section of the Client Summary screen gives an overview of your total: SECTION 1. balance, securities and equity on your accounts. 2. net positions, the closing amount (total profit and loss over all your positions) and the cost to close your stock positions. 3. available margin and the margin required for your positions. ACCOUNTS The Accounts section of the Client Summary screen gives an overview of your accounts and the current trading status of each account. Click on the Account ID for a detailed summary for a specific account. OPEN The Open Positions section of the Client Summary screen shows all your open Forex, POSITIONS positions in your accounts. Click on the Account ID for a detailed summary for a specific account. 39
  • Client Station FX Help CHART To open a chart for an instrument for which you have a position, click on the Symbol for the ACCESS instrument in the Open Positions list. Account Module Client Summary CLIENT If you have multiple trading accounts, the Client Summary shows the combined trading status SUMMARY for all the accounts and all your positions in the different accounts. The Client Summary SCREEN Screen also gives access to Account Summary screens giving details of each individual account. TO OPEN THE To open the Account module, select Trading > Account > Client Summary. ACCOUNT MODULE The Account Module is available in a number of languages see selecting a language. Click on the fields for a description REFRESH The Client Summary screen will periodically refresh automatically. To force the screen to refresh immediately, click on the Refresh button (top right-hand corner of the screen). The last time (GMT) the screen was refreshed is also displayed. SUMMARY The summary section of the Client Summary screen gives an overview of your total: SECTION 1. balance, securities and equity on your accounts. 2. net positions, the closing amount (total profit and loss over all your positions) and the cost to close your stock positions. 3. available margin and the margin required for your positions. ACCOUNTS The Accounts section of the Client Summary screen gives an overview of your accounts and the current trading status of each account. Click on the Account ID for a detailed summary for a specific account. OPEN The Open Positions section of the Client Summary screen shows all your open Forex, POSITIONS positions in your accounts. Click on the Account ID for a detailed summary for a specific account. CHART To open a chart for an instrument for which you have a position, click on the Symbol for the ACCESS 40
  • Account instrument in the Open Positions list. Account Module Account Summary ACCOUNT The Account Summary screen gives you details of a single trading account. SUMMARY SCREEN If you have multiple trading accounts, the Client Summary screen shows a combined summary of all your accounts and gives access to Account Summary screens giving details of each account. TO ACCESS If you have a single account, select Trading > Account > Client Summary. THE ACCOUNT If you have multiple accounts, click on the Account ID on the Client Summary screen. SUMMARY Click on the fields for descriptions REFRESH The Account Summary screen will periodically refresh automatically. To force the screen to refresh immediately, click the Refresh button in the top right-hand corner of the screen. The last time (GMT) the screen was refreshed is displayed next to the Refresh button. RESET YOUR For simulation versions of the Client Station, you can reset your account to restart your SIMULATION trading strategies from scratch. To reset your account, enter the balance you would like in the ACCOUNT New starting balance field and click the Reset Account button. Note: Your trading positions and history (trade activities) will also be reset and lost. SUMMARY The summary section of the Account Summary screen includes an overview of: FOR ACCOUNT • balance, securities and equity in this account. SECTION • net positions, the closing amount (total profit and loss over all your positions) in this account. • available margin and the margin required for your positions in this account. OPEN The Open Positions section of the screen shows your open Forex, positions in this account. POSITIONS CHART To open a chart for an instrument for which you have a position, click on the Symbol for the ACCESS instrument in the Open Positions list. Account Module 41
  • Client Station FX Help Open Forex Positions OPEN FOREX If you have multiple accounts, the Open Forex Positions for all accounts are displayed on the POSITIONS Client Summary screen. Open Forex Positions in an individual account are shown on the Account Summary screen (accessed by clicking on an Account ID on the Client Summary screen). CLOSED Closed positions will be removed from this list when they reach the Value Date of the closing POSITIONS trade. Click on the fields for descriptions TO CLOSE Click the close icon next to a position to close it. This will launch the Forex Trade module with A the necessary trade set up to immediately close the position. POSITION TO RELATE Click the take profit icon next to a position to create a take profit order for the position. This A TAKE will launch the Forex Trade module with the necessary trade order set up to close the position PROFIT ORDER TO if the market hits or breaches a defined price level. A POSITION TO RELATE Click the Stop Loss icon next to a position to create a stop loss order for the position. This will A STOP launch the Forex Trade module with the necessary trade order set up to close the position if LOSS ORDER TO the market moves against your position and hits or breaches a defined price level. A POSITION TRADE Click the related orders icon to open the list of related orders. Related orders are ORDERS RELATED distinguished by the following icons: TO A POSITION for limit orders for stop orders [ RELATED Open and closing trades that are related are listed together and shown using the linked icon [. TRADES INSTRUMENT Access full information for an instrument including charts, quotes and news by clicking on the INFORMATION symbol for the instrument. Account Module To Reset your Simulation Account RESET YOUR For the simulation version of the Client Station, you can reset your account to restart your SIMULATION trading strategies from scratch. To reset your account: ACCOUNT 42
  • Account 1. Open the Account module by selecting Trading > Account>Client Summary. 2. Click on the account in the list of Accounts on the Client Summary screen. 3. Enter the balance you would like in the New starting balance field. 4. click the Reset Account button. Note: Your trading positions and history (trade activities) will also be reset and lost. Click on the fields for descriptions Account Module Selecting Language A number of modules including the Account and Charts Modules are available in a number of languages. To change the language, select the language either from the toolbar or by selecting Tools > Options and select the required Language and click OK. Account Module Activity Log TO ACCESS To access the Activity Log containing a log of all registered activities for all accounts, click on THE Activity Log from the Client Summary screen. ACTIVITY LOG To access the Activity Log containing a log of all registered activities in a single specific 43
  • Client Station FX Help account, click on Activity Log from the Account Summary screen for the selected account. THE The Activity Log includes details of: ACTIVITY LOG • the trades as listed in the Trade Log • trade confirmations seen and acknowledged by you • trade order placements, changes and cancellations • price offers from dealers for trades that cannot be executed live. The log also lists offer acceptance and cancellations (time-outs when an offer has not be accepted within the offer period) • chat messages as listed in the Chat Log • account resets on the Simulation version of the Client Station • system messages MULTIPLE If you have multiple trading accounts, the tabs along the top of the Account Statement give ACCOUNTS access to your different accounts. SELECTING Select the period to display log entries for in the From and To fields then click the Show THE LOG button. Alternatively, click: PERIOD • This Month to select from the beginning of this Month to the current date • One Week to select one calendar week up to the current date • One day to select from yesterday to today SELECTING Select: THE LOG ENTRIES • All to show all Log entries including system, chat, trades and trade related messages • Trades to include trades placed • Trade Activity to include Trade Confirmations, Trade Requests and other trading related activity 44
  • Account • Order Activity to include trade orders placed and cancelled • Other Activity to include all other Client Station activity including account activity, system messages and chat Online Trade Recaps (Live Clients) Online Trade Recaps Trade Recaps for Live Clients Only TRADE RECAPS Details of all your trading activities are available online directly through Client Station. These recaps offer the full verified details of all your trades every day in a printable format. TO ACCESS Select Trading > Account > Online Recaps from the Client Station menu. ONLINE TRADE RECAPS LOG IN To access your online trade recaps, you must log in to the secure website using your User ID and Password. 1. Example Forex Activity Statement through Online Trade Recaps Trading Conditions Account Module Trading Conditions TO ACCESS THE To access the Trading Conditions for an account, click on Trading TRADING CONDITIONS Conditions from the Account Summary screen. Trading Conditions show the current costs and trading conditions set for your trading account. If you have multiple access, separate accounts can have different trading conditions. TRADING CONDITIONS Select the trading product from the drop-down list FOR DIFFERENT PRODUCTS to see the trading conditions for that product: 1. Forex Trading Conditions Account Module Forex Trading Conditions TO ACCESS To access the Forex trading Conditions for an account, click on Trading FOREX Conditions on your Account Summary screen and select Forex Trading TRADING CONDITIONS Conditions from the drop-down list. Forex Trading Conditions show the current costs and trading conditions associated with trading Forex from the account. 45
  • Client Station FX Help Click on the fields for descriptions This screen is shown for example only and the trading conditions shown on this screen may not be the current trading conditions. 46
  • Chat Module CHAT The Chat module is used for communicating on-line with your account executive through a sequence of short messages. Note: Simulation Client Station users do not usually have access to an representative through the Chat module and an automated reply is given instead. All messages sent and received through the Chat module are logged in the Chat Log (Trading > Account > Client Summary, then click on Chat Log at the top of the screen). TO OPEN THE Select Trading > News & Analysis > Dealer Chat from the Client Station CHAT menu. MODULE A number of setup options are available to alert you when you receive a chat message. TO SEND Type your message into the bottom pane of the Chat Module and press Enter (or MESSAGES click the Send button) to transmit the message to your account executive. MESSAGES Your messages that you have sent are listed in the message history (main area) AND REPLIES of the Chat module and are noted by CLIENT. Messages from your account executive are noted with the name of your executive. TO CLEAR To clear all the messages in the message history, click the Clear button. ALL MESSAGES TO PRINT To print the full message history list on your system printer, click the Print THE button. MESSAGES CONTACT US The Contact Us button displays a web page with alternative contact information such as telephone numbers and email addresses you can use instead of the Chat 47
  • Client Station FX Help INFO module to contact your account executive. 48
  • Open Orders Open Order Module To Change an Order TO CHANGE AN ORDERS Trade orders that have not been executed can be changed in the Open Orders module (Trading > Account > Open Orders from the Client Station menu). To change an order: 1. Double-click on the order in the Open Orders list or select the order and click the Change button. 2. Change the order details that you want to change. 3. Click the Send button to transmit the changed order. ORDER DETAILS THAT CAN The order details that can be changed include the: BE CHANGED • Amount of Forex • Execution price for the order • Order duration (Day Order or Good Til Cancelled) • Optional Note TO CHANGE OTHER DETAILS To change other order details, you can cancel the order in the Open Orders Module then redefine the order with the new details using the Trade Module. CHANGING RELATED Click on a working order (the active order for If Done orders, either ORDERS order for One Cancels Other orders) and both the related orders are displayed and can be changed in the same way as single orders. Change Forex Order 49
  • Client Station FX Help Click on the fields for a description Open Orders Module To Cancel a Trade Order CHANGING Outstanding trade orders that have not yet been executed can be cancelled ORDERS from the Open Orders module. OPEN ORDERS The Open Orders Module lists all of your trade orders that have not yet MODULE executed. To open the Open Orders Module, select Trading > Account > Open Orders from the Client Station menu. TO CANCEL AN To cancel an order: ORDER 1. Select the Order in the Open Orders list 2. Click Cancel Order. 3. Select Yes to confirm cancellation of the order on the confirmation dialogue. 50
  • Charts Chart Module Setting up the Time Scale DYNAMIC CHART Client Station charts allow you to indirectly set the time scale by setting SCALING the: • time scale (time interval between points) • number of chart points (periods) • chart area available The chart will dynamically re-scale itself back from the latest point if any of these properties are changed. Note: the time scale of all charts is in GMT. SETTING THE TIME Select the time interval between the points on your chart from the Time SCALE Scale menu. To select a 1-hour time interval for example, select Time Scale > 1 hour. SETTING THE Select the number of points to include on your chart by selecting View > NUMBER OF POINTS Periods. Select the number of points to include on your chart and click (PERIODS) OK. CHANGING THE SIZE The chart can be stretched or shrunk to resize the chart display area OF THE CHART available. To resize the chart scale (horizontally), drag the left or right-hand border of the chart using your mouse. To resize the chart price scale (vertical scale), drag the top or bottom border of the chart using your mouse. Chart Module Chart Information Points TO ACCESS Select View > Information from the chart menus. CHART INFORMATION 51
  • Client Station FX Help CHART POINT Chart Information gives you information for each point displayed on the INFORMATION chart, including the: 1. ID number of the point currently being displayed 2. Date of the chart point (day/month/year) 3. Time of the chart point (hours:minutes:seconds in GMT) 4. Close Price of the instrument at the end of the information period 5. High Price of the instrument during the period 6. Low Price of the instrument during the period 7. Open Price of the instrument at the start of the period TO SCROLL You can move to other points on the chart by: THROUGH CHART POINTS 1. using the scroll buttons on the Information dialogue to scroll through successive point. 2. using the slider on the Information dialogue to jump to other 3. using your mouse to highlight different points on the chart. Lines and Guides Chart Module Show Chart Cross-Hairs TO DISPLAY To display cross-hairs on your chart centered on the mouse pointer, select View THE CROSS > Show the crosshair from the chart menu. HAIRS Cross hairs are useful for relating points on the chart to the price scale (Y axis) and the time (GMT) of the data (X axis). When the Information dialogue is displayed (View > Information), the cross- hairs are constrained to the data point. The currently selected data point is 52
  • Charts highlighted with a red dot. Chart Module Horizontal Lines and Guides TO ADD To add a horizontal guide constrained to the high or low position of a data HIGH/LOW point, select Lines > Add > High/Low then select the high or low data- GUIDES point position for the guide. High/Low guides cannot be added to line charts where the high and low for each data point is not available. TO ADD To add a horizontal guide anywhere, select Lines > Parallel then select the HORIZONTAL data point for the guide. GUIDES Horizontal guides can also be used on line charts. Chart Module Freehand Guides TO ADD FREEHAND To add a freehand guide: GUIDES 1. Select Lines > Add > Freehand. 2. Click and hold the mouse on the start point for the mouse 3. Drag the mouse to the end-point for the guide, and release the mouse button. The line will be drawn from the start position, through the end position to 53
  • Client Station FX Help the end of the chart. Chart Module Parallel Guides TO ADD GUIDES PARALLEL TO To add a new guide parallel to an existing guide: EXISTING GUIDES 1. Select Lines > Parallel 2. Highlight the line to parallel by moving your mouse over it. 3. Click on the line and drag the copy into the require position. Chart Module Deleting Guides TO DELETE A SINGLE GUIDE To delete a single guide: 1. Select Lines > Delete 2. Highlight the line to delete by moving your mouse over it. 3. Click on the line to delete it. 54
  • Charts TO DELETE ALL GUIDES To delete all the guides on the chart select, Lines > Delete All. Studies (analysis tools) Chart Module Available Chart Studies SPOT TRADING The Chart Module offers a number of studies and analysis tools to help FOREX you make informed trading decisions based on identified market trends, levels of support / resistance, overbought / oversold indications and so on. The studies available in the chart module include: 1. Bollinger Bands 2. Fibonacci and Fibonacci Fan 3. Relative Strength Indicator (RSI) 4. Rate of Change ROC 5. Momentum 6. Moving Average Convergence/Divergence (MACD) 7. Moving Averages and Moving Averages Exponential 8. Oscillator 9. Stochastic Slow ACCESS TO Fibonacci Fan and Fibonacci are accessed from the Lines menu on the STUDIES chart. All other studies are accessed from the Studies menu. SIMULTANEOUS Up to 5 studies can be displayed at any time. When 5 studies are STUDIES displayed, one of the studies must be removed before another can be AVAILABLE added. Chart Module Moving Averages Convergence/Divergence (MACD) WHAT IS MOVING Moving Averages Convergence/Divergence (MACD) is a trend indicator AVERAGES following the relationship between two moving average prices (usually 26- CONVERGENCE /DIVERGENCE? day and 12-day averages). On top of this, a 9-day average of the MACD line is plotted as a control or signal line. In its conjunctions with the MACD line, the signal line may show buy and sell opportunities. TO ADD A MACD To add a moving average indicator to your chart: INDICATOR 1. Set a suitable chart size and time scale for the study. 2. Select Studies > MACD > New from the chart menu. 3. Click OK on the MACD Input dialogue to accept the standard time 55
  • Client Station FX Help values. TO REMOVE To remove a MACD indicator from your chart, select Studies > MACD > MACD [select the MACD indicator name]. INDICATORS BUY / SELL Some traders use the MACD as a sell indicator when it falls below the signal INDICATIONS line and a buy indicator when the MACD rises above the signal line. Some traders also buy or sell when the MACD crosses zero. OVERBOUGHT / The MACD may also be useful as an overbought / oversold indicator. When OVERSOLD the MACD rises, this often indicates that the price is overextended and may INDICATIONS soon fall back to realistic levels. The MACD overbought / oversold indications vary between instruments, and identifying the specific indications for a particular instrument can be tricky. DIVERGENCE When the MACD diverges from the its underlying instrument, this may indicate that the current market trend may be fading. When the MACD makes new lows and the price fails to make new lows, it can indicate that a current bearish market is turning. Similarly, when the MACD makes new highs and the prices fails to make new highs, it can indicate that a current bullish market is turning. These effects are most prominent when occurring in overbought/oversold conditions. Chart Module Moving Averages (Exponential) WHAT ARE MOVING A Moving Average is a simple indicator showing the average selling prices AVERAGES of an instrument over a defined period of time (for example, the last 10 time-periods of the chart). Moving averages are sometimes used to make buy and sell decisions based on whether the instrument's current price is higher or lower than the Moving Average (use the chart's zoom feature to see this more clearly). SLIDING WINDOW Moving Average available from the Studies menu in the Client Station 56
  • Charts MOVING AVERAGE offers a sliding window moving average that calculates the average over the most recent data points (10 points by default). The number of points can be defined on the Input dialogue. EXPONENTIALLY Mov Avg Exponential available from the Studies menu in the Client WEIGHTED Station offers a weighted moving average calculated over the full price MOVING AVERAGE range for the instrument and is biased towards current prices using an exponential weighting factor. A smoothing factor can be entered on the Input dialogue to dampen the oscillations to a more deterministic level on volatile charts. TO ADD MOVING To add a moving average indicator to your chart: AVERAGES 1. Set a suitable chart size and time scale for the study. 2. Select Studies > Moving Average > New from the chart menu. For an exponential moving average select Studies > Mov Avg Exponential > New from the chart menu 3. For Moving Averages, enter the number of chart periods to calculate the Moving Average over in the Input dialogue and click OK. The default is 10 chart periods. For exponential Moving Averages, enter a smoothing factor (between 0 and 1) if necessary click OK. The default of 0.5 should be used in most cases. TO REMOVE To remove a Moving Average indicator from your chart, select Studies > MOVING AVERAGE Moving Average > [select the Moving Average indicator name]. INDICATORS BUY AND SELL Moving averages are usually interpreted by comparing the moving average INDICATIONS of the instrument's price with the underlying instrument's price itself. Some traders use moving averages as a buy indication when the security's price rises above its moving average and a sell indication when the security's price falls below its moving average. Using these moving average indicators to make buy and sell decisions will never allow you to buy exactly on a peak or trough but may allow you to buy and sell shortly after in-line with the instruments price trend. Chart Module 57
  • Client Station FX Help Relative Strength Index (RSI) WHAT IS RSI? The Relative Strength Index (RSI) is a popular oscillator that compares the velocity of a single instrument 's recent gains and losses and gives this as an index (0 to 100). RSI can be useful for identifying overbought/oversold levels, divergences and can give an indication of market conditions (bullish or bearish). RELATIVE The Relative Strength Index gives the internal strength of a single STRENGTH instrument and must not be confused with the Relative Strength Indicator or CONFUSION the Comparative Relative Strength which compares instruments to a market index to show how the instrument is performing relative to the market. TO ADD AN RSI To add a Relative Strength Index to your chart: 1. Set a suitable chart size and time scale for the study. 2. Select Studies > RSI > New from the chart menu. 3. Enter the number of chart periods to calculate the RSI over in the Input dialogue and click OK. The default is 10 chart periods. POPULAR RSI Popular settings for the RSI studies are: SETTINGS 1. 14 days (set the Time Scale to 1 day and the RSI Input to 14) as suggested by the RSI's originator. 2. 9 days (set the Time Scale to 1 day and the RSI Input to 9). TO REMOVE RSI To remove a RSI indicator from your chart, select Studies > RSI > [select INDICATORS the RSI name]. OVERBOUGHT/ For a 9-day RSI, the market is often considered overbought when the RSI OVERSOLD reaches about 80%. That is, the trade price for the instrument is considered INDICATIONS high and is not expected to go much higher. Similarly, a RSI below 20 is considered oversold. That is, there are expected to be very few traders willing to drive the pressure even lower and the price 58
  • Charts is generally not expected to go much lower. DIVERGENCE RSI can also indicate divergence between the RSI and the price of the INDICATION underlying instrument. When prices have rallied to a new high but the RSI has not rallied to a comparable new high, then a divergence occurs. The weakness in the RSI is showing that prices may not be as strong as they were during the previous rally and that the upward trend may therefore be fading. OTHER RSI can also be useful for identifying chart formations such as head and INDICATIONS shoulders and failures swings (or breakouts. RSI can, in some cases, show levels of support and resistance more clearly than the prices itself. Chart Module Momentum WHAT IS Momentum is a measurement of the amount that the price of an instrument has MOMENTUM ? changed over a given time span (rate-of-change). Momentum can be useful for identifying trends and their rate of change, for example, a rising price trend is getting stronger, fading or holding steady based on overbought/oversold indications. Momentum indicates the same information as Rate of Change (ROC) but expresses the results as a ratio rather than a point or percentage. Successful Momentum interpretation depends on identifying an appropriate time-frame (n) for the particular market. LIMITATIONS Momentum indicators can suffer from distortion by large price movements that occurred exactly n-days ago that can cause shifts in the Momentum though the current price is stable. It can also be difficult to know when Momentum is moving into extreme ranges as each individual trading instrument has its own characteristics as to what is an extreme price movement. TO ADD A To add a Momentum indicator to your chart: MOMENTUM INDICATOR 1. Set a suitable chart size and time scale for the study. 2. Select Studies > Momentum > New from the chart menu. 3. Enter the number of chart periods to calculate the momentum over in the Input dialogue and click OK. The default is 10 chart periods. 59
  • Client Station FX Help TO REMOVE To remove a Momentum indicator from your chart, select Studies > MOMENTUM Momentum > [select the Momentum indicator name]. INDICATORS READING When the chart is above the zero line (the dashed red line): TRENDS FROM MOMENTUM 1. a rising line may indicate an upward trend getting stronger 2. a level line may indicate an upward trend holding steady 3. a falling line may indicate an upward trend is stalling When the line is below the zero line (the dashed red line): 1. a falling line may indicate the downward trend is getting stronger 2. a level line may indicate the downward trend is holding steady 3. a rising line may indicate the downward trend is stalling When the line is equal to zero, the trend is level. Chart Module Price Oscillator WHAT IS THE The Price Oscillator shows the difference between two moving averages. Like OSCILLATOR ? Momentum, the Price Oscillator can be useful for identifying trends and their rate of change. For example, determining if a price trend is rising, getting stronger, fading or holding. To add a Price Oscillator to your chart: 1. Set a suitable chart size and time scale for the study. 2. Select Studies > Oscillator > New from the chart menu. 3. Enter the number of chart periods to calculate the momentum over in the Input dialogue and click OK. The default is 10 chart periods. 60
  • Charts Chart Module Rate of Change (ROC) WHAT IS RATE Rate of Change (ROC) is an indication of the amount the price of an instrument OF CHANGE? has changed over a period of time (rate-of-change). ROC indicates the same information as Momentum but expresses the results as points or a percentage rather than a ratio. As with Momentum, ROC can be useful for identifying whether a price trend is rising, getting stronger, fading or holding steady based on overbought/oversold indications. TO ADD A ROC To add a ROC indicator to your chart: INDICATOR 1. Set a suitable chart size and time scale for the study. 2. Select Studies > ROC > New from the chart menu. 3. Enter the number of chart periods to calculate the momentum over in the Input dialogue and click OK. The default is 10 chart periods. POPULAR ROC Popular settings for a ROC indicator include 12 and 25 day ROCs for good SETTINGS intermediate-term views. For example, with a 1-day chart time scale, set the ROC Input to 12. ROCs can effectively be used from 1 day to show volatile intra-day swings, up to 200 days for a long-term view. TO REMOVE To remove an ROC indicator from your chart, select Studies > ROC > [select ROC the ROC indicator name]. INDICATORS READING When the chart is above the zero line (the dashed red line): TRENDS FROM MOMENTUM 1. a rising line may indicate an upward trend getting stronger 2. a level line may indicate an upward trend holding steady 61
  • Client Station FX Help 3. a falling line may indicate an upward trend is stalling When the line is below the zero line (the dashed red line): 1. a falling line may indicate the downward trend is getting stronger 2. a level line may indicate the downward trend is holding steady 3. a rising line may indicate the downward trend is stalling When the line is equal to zero the trend is level. Chart Module Stochastic Slow WHAT IS Stochastic indicators are based on the observation that during periods of STOCHASTIC instrument price increase, closing prices tend to be closer to the top end of SLOW the recent price range. Similarly, in periods of price decreases, the closing prices tend to be closer to the lower end of the recent price range. The Stochastic Slow indicator compares the averaged closing price of an instrument to the previous price range over a defined time period. Conventionally, there are three stochastic values known as Raw K, %K, and %D: 1. Raw K is the most basic value 2. %K represents a slowing of the Raw K value 3. %D represents a slowing of the %K value (and thus a "double" slowing of Raw K) "Slow Stochastics" as supported by the Chart Module, refers to comparing the slower %K and %D values. However, it should be noted that there are a wide variety of different names for the stochastic values. TO ADD A To add a Stochastic Slow indicator to your chart: STOCHASTIC SLOW INDICATOR 1. Set a suitable chart size and time scale for the study. 2. Select Studies > Stochastic Slow > New from the chart menu. 3. In the Input dialogue, enter the number of chart periods to calculate the price range over for the Observation period (up to 250) and enter Averaging periods for both the fast and the slow indicators (from 1 to 250) and click OK. The default is 5 for the Observation and Averaging periods. img src="....ImagesChartsStochastic.gif" x-maintain-ratio="TRUE" style="width: 420px; border: none; height: 298px; float: none; border- style: none; border-style: none;" width="420" height="298" border="0"> TO REMOVE To remove a Stochastic Slow indicator from your chart, select Studies > STOCHASTIC Stochastic Slow > [select the Stochastic Slow indicator name]. SLOW INDICATORS BUY/SELL Some traders use the Stochastic Flow indicators to buy when an indicator 62
  • Charts INDICATIONS (either the fast or slow) falls below a specific level (e.g., 20) and then rises above that level again. Sell when the Oscillator rises above a specific level (e.g., 80) and then falls below that level. Another strategy sometimes used is to buy when the %K line rises above the %D line and sell when the %K line falls below the %D line. Look for divergences, for example, where prices are making a series of new highs and the Stochastic Oscillator is failing to surpass its previous highs. Chart Module Bollinger Bands WHAT ARE Bollinger Bands are moving averages that are duplicated and shifted above and BOLLINGER below the original moving average by defined standard deviation levels to form BANDS? an envelope around the instrument 's price. As standard deviation indicates volatility, Bollinger Bands are self-adjusting and are wider during volatile markets and narrower in calmer trading periods. Bollinger Bands define the upper and lower limits of the normal trading range and an instrument's price tends to stay within the bands. When an instrument becomes overbought or oversold and the price is pushed to extremes of the normal trading range, the price will approach one of the bands. Some people interpret this as a sell signal. The spacing between the bands varies depending on the volatility of the prices. During periods of high volatility, the bands widen and become more forgiving of the change in price. During periods of slow price change (low volatility), the bands narrow and contain the instruments price more closely. TO ADD To add Bollinger Bands to your chart: BOLLINGER BANDS 1. Set a suitable chart size and time scale for the study. 2. Select Studies > Bollinger Bands > New from the chart menu. 3. In the Input dialogue, enter the number of chart periods to calculate the moving Average over (up to 250) and the Standard deviation (from 0.0-10.0) and click OK. The default is 20 chart periods and a Standard Deviation of 2.0. 63
  • Client Station FX Help TO REMOVE To remove Bollinger Bands from your chart, select Studies > Bollinger Bands BOLLINGER > [select the Bollinger Bands name]. BANDS Chart Module Fibonacci Fan WHAT IS A The Fibonacci Fan is a three-line guide derived from the Fibonacci number FIBONACCI series that some traders believe help identify successive areas of support and FAN? resistance in a market. The zones indicated by the fan may predict areas of retraction in market trends. TO ADD A Fibonacci fans are drawn by extending a trend line between two significant FIBONACCI extremes on the chart such as from a trough to an opposing peak or vice FAN versa. To add a Fibonacci Fan to your chart: 1. Select Lines > Fibonacci Fan from the chart menu. 2. Click and hold on the significant low or high where the fan should start. 3. Drag the line to the significant high or low of interest. 4. Click OK on the Fibonacci dialogue to accept the standard Fibonacci values. Chart Module Fibonacci Bands WHAT ARE Fibonacci bands are a three-line guide derived from the Fibonacci number FIBONACCI series that some traders believe can help identify successive areas of support BANDS? and resistance in a market. The zones indicated by the bands may predict areas of retraction in market trends. TO ADD Fibonacci bands are drawn by extending a trend line between two significant FIBONACCI extremes on the chart such as from a trough to an opposing peak or vice 64
  • Charts BANDS versa. To add Fibonacci bands to your chart: 1. Select Lines > Fibonacci from the chart menu. 2. Click and hold on the significant low or high where the fan should start. 3. Drag the line to the significant high or low of interest. 4. Click OK on the Fibonacci dialogue to accept the standard Fibonacci values. Chart Module Zooming in to a Chart Segment TO ZOOM INTO A Select Zoom > Zoom In then highlight the chart segment you are CHART SEGMENT interested in, using the mouse. When you are zoomed into a segment of the chart, 'Zoom' is noted in the bottom left-hand corner of the chart. TO ZOOM OUT To zoom out to the original chart size, select Zoom > Zoom Out. Chart Module Share Trade Volume VOLUMES For stock charts, the Chart Module can display the volume of trades for a stock. To display the volume of trades for a stock, select View > Volumes from the chart menu. The Volume chart will be displayed under the price chart. 65
  • Client Station FX Help VOLUME When the Volume chart is open, the Information dialogue displays the trade INFORMATION volume for each point on the chart. To access chart information, select View > Information from the chart menu. Chart Module Open Interest OPEN INTEREST For futures markets charts, the Chart Module can display the Open Interest of trades giving an indication of the trading volume in the future. To display the Open Interest for a future, select View > Open Interest from the chart menu. The Open Interest chart will be displayed under the price chart. OPEN INTEREST When the Open Interest chart is open, the Information dialogue displays the INFORMATION Open Interest for each point on the chart. To access chart information, select View > Information from the chart menu. Chart Module 66
  • Charts Logarithmic Price Scale TO SELECT LOGARITHMIC To select logarithmic price scale instead of the default linear price PRICE SCALE scale, View > Logarithmic price scale. Logarithmic price scales are useful when working with options and for viewing charts with larger price swings. 67
  • Glossary # 3-way contingent order: 3 orders where 2 slave orders only become working orders if (If Done) a primary order is executed first. These slave orders are themselves related as OCO orders allowing both a stop loss and a profit taking order to be placed around a position. A Account Summary: The trading status and activity for a specific account. If you maintain multiple accounts, the Client Summary shows the combined trading status and activity for all your accounts. Activity Log: A list of all your activities from the Client Station. The Activity Log includes details of trades, orders, price offers from requests chat messages, account resets for the Simulation version of Client Station and system messages. Amount not Booked: The trade Options/Orders that have been charged to your account but have not yet been processed. Analysis: The study and analysis of historic price data to try to anticipate future movements in the price of an instrument. Ask price: The price at which you can buy the specified instrument. For Forex trading, this is the price at which you can buy the trade currency (quoted first) by selling the price currency of the pair. For example, if you buy 100,000 EURUSD, you are buying 100,000 Euros against US dollars. B Bar HLC: A chart style that shows the highest, lowest and the closing prices for each chart period. Bar OHLC: A chart style that shows the opening, highest, lowest and the close prices for each chart period. Bid price: The price at which you can sell the specified currency of the pair. For Forex trading, this is the price at which you can sell the trade currency (quoted first) by buying the price currency of the pair. That is, if you sell 100,000 USDJPY, you are selling 100,000 US dollars and buying Japanese yen. Breaches: When the price of an instrument trades through a specified level. For example, if a the execution price for a limit order to buy is set at 100, and the price jumps from 105 to 95, the 100 price level has been breached and the order will become a market order and filled as soon as possible. C Call option: An option to buy an instrument at a specified ask price. Candlestick: A chart style using a thin line to represent the price range for the instrument in the chart period. The opening and closing prices for the period are represented by a thicker line (red if the price finished lower and green if it finished higher). The overall effect can look like a candle. Many traders believe it is the easiest chart style to read Cash Balance: The current value of the cash funds in your account. 69
  • Client Station FX Help CFD: A Contract For Difference (CFD) is derivative of a stock product used for trading. The CFD price behaves exactly like the underlying stock price CFD trading offer a number of advantages over trading in native stocks such as trading on margin and direct (immediate) trading instead of waiting for a trade order to be filled on an exchange. CFD Financing: A charge covering the financing of CFDs or payment (accrual) through selling CFDs. As CFDs are derivative products traded on margin, you are effectively borrowing money to purchase them. This is subject to a financial charge related to the current interest rate. Similarly, when selling (shorting) a CFD you may be eligible for an interest accrual. The CFD Interest is charged / accrued for every day you hold the CFD. Chat Log: A list of all chat communications between you and your account executive throught the Chat module in Client Station. The Chat Log contains details of the time, date of each message as well as the message itself. Client Summary: The combined trading status and activity for all your accounts (if you maintain multiple accounts). If you have only a single account, the Client Summary shows the same information as the Account Summary. Close a position: Close an investment by transacting the opposite trade. For example, if you bought 100,000 USDJPY, you would have to sell 100,000 USDJPY to close the position. Closing Amount: The total profit or loss calculated over all the positions. Commission: Charges added for administration of trade transactions. Contingent orders: Trade orders that are related as If Done (slave) where a slave order only becomes active if the primary order is executed, or One Cancels the Other (OCO) where the first order to execute, cancels the other. 3-way contingent orders are also available where 2 orders are placed if (If Done) a primary order is executed. These orders are themselves related as OCO orders allowing both a stop loss and a profit taking order to be placed around a position. Cost to Close Positions: For CFD and Stocks, this is the amount required to close your positions and includes, for example, the minimum trading fee (for low-value orders only), commissions for stocks or CFDs if not traded on spread price. Cross: A Forex instrument (currency-pair), for example USDJPY. D Day Order (DO): An order is valid until the end of the day - if it has not been filled before this, it is cancelled. For Forex, the end of the day is 22:00 GMT on the day that you place the order. For CFDs and stocks, the end of the day is until the exchange that the stock is traded on closes. Delivery date: The date on a futures contract when delivery of the underlying goods will take place. For speculative investing in futures, the contract future position must be closed on or before this date. Derivatives: Instruments that are constructed (derived) from another security. For example, CFDs are derivatives of physical stocks. Dividend: The percentage of a company's stock value paid to shareholders. A stock selling for $100 a share with an annual dividend of $1 a share yields the investor 1% E 70
  • Glossary EPS: The Earnings Per Share is the company's profit divided by its number of outstanding shares. If a company earning $10 million in one year had $10 million shares of stock outstanding, its EPS would be $1 per share. Companies often uses a weighted average of shares outstanding over the reporting term when calculating EPS. Equity: The accumulated cash value of your account including profits, losses and the current market value of any physical shares. Exchange: A market where securities, options, futures and or commodities are traded. Exposure: Being subject to risk such as exposure to foreign currency exchange rate fluctuations. F Fibonacci: The Fibonacci Fans and Bands are three-line guides drawn on charts derived from the Fibonacci number series. Some traders believe they help identify successive areas of support and resistance in a market. Financial futures: Futures contracts based on financial instruments such as stock indexes, foreign currencies and bonds. Firewall: A device typically used to protect private networks against malicious activities from the public Internet. Firewalls restrict the type of network traffic that is allowed to pass to/from the public Internet and can sometime cause problems with the operation of Client Station. Forest: A chart style that takes the current close price as the base-line and plot each data point relative to this base-line. Forward Outright: An order to purchase a Forex instrument at a fixed price at a fixed date. The price of the forward order is related to the time until the purchase and the volatility of the market. Forward Outright orders are often use to hedge exposure risks when dealing in foreign markets. Futures contract: A contract to trade a fixed amount of a commodity or financial instrument at a future date. G Good Til Cancelled (GTC): An order duration where the order will be valid until it is either manually cancelled or it is executed because the necessary market conditions have been met. Guaranteed Stop: A CFD stop order that is guaranteed to be filled if the necessary market conditions are met. When trading CFDs without a guaranteed stop, the order will be filled only if market conditions allow it. I If Done: A related order type that consists of two orders - the primary working order that will be executed as soon as market conditions allow it - the secondary non-working order that will become a market order only if the first order is executed. Instrument: A tradable symbol having a monetary value. This can be a Forex cross (currency pair), or a stock ticker (for CFDs and stocks). L 71
  • Client Station FX Help Limit Order: Limit orders to buy are placed below the current market price and limit orders to sell are placed above the current market price. If the Bid price for sell orders or Ask price for buy orders is hit or breached in sufficient size, the order will be filled as soon as possible at the price obtainable in the market.. Long: In Forex trading, going long is buying the trade currency of the Forex currency pair. For example, if you were going long on USDJPY, you would be buying USD by selling JPY. For securities, going long is taking ownership of a security through buying it as opposed to going short where you sell the security without owning it. Lot: Used in futures contract trading to define a fixed contract size corresponding to a fixed amount of the item being traded in the future. M MACD (Moving Averages Convergence/Divergence): A trend indicator chart study following the relationship between two moving average prices (usually 26-day and 12- day averages). On top of this, a 9-day average of the MACD line is plotted as a control or signal line. In its conjunctions with the MACD line, the signal line may show buy and sell opportunities. Managed Fund: A Managed Fund is an investment portfolio that is professionally managed by an expert manager who invests the fund's capital in a variety of investments. The mix and type of investments in the portfolio depends on the fund's mandate, communicated to investors by the fund manager. Managed Fund Units: A Managed Fund arranged where investments in the fund is based on units or shares in the fund. The price of the fund units rise and fall with the performance of the fund. The main advantage of unit-based funds is that they make it easier to administrate and easier for you calculate the profit and loss on your investments in the fund. Margin: The amount of equity (collateral) required for an investment position, as a percentage of the current value. When trading on margin, you need only deposit a fraction of the current value of the instrument you are investing in. For example if the commodity you are trading in requires a margin of 5%, this allows you to gear your investment 20 times. Margin Call: When you have exceeded your allowed operating margin, you are subject to a margin call to remedy the situation. To you must either close or reduce positions, or send additional funds to cover your positions. Margin Required: The funds required to maintain your open positions. For example, an open position of AUD 250,000 means the account needs at least 5% of 250,000 = AUD 12,500 to keep the position open. If your Margin Required exceeds your Net Equity for Margin, you must close or reduce positions or send additional funds to cover your positions. Market Order: Orders to buy or sell a specified instrument as soon as possible at the price obtainable in the market. Module: A functional component of the Client Station such as the Trade Modules, the Prices Modules or the Account Module. Modules are opened from the Trading menu. Momentum: A chart study that measures the amount that the price of an instrument has changed over a given time span (rate-of-change). Momentum can be useful for identifying trends and their rate of change, for example, a rising price trend is getting stronger, fading or holding steady based on overbought/oversold indications. Momentum indicates the same information as Rate of Change (ROC) but expresses the results as a ratio rather than a point or percentage. 72
  • Glossary Moving Averages: A simple chart indicator showing the average selling prices of an instrument over a defined period (for example, the last 10 time-periods of the chart). Moving averages are available in Client Station charts with a sliding window or an exponential weighting factor. Moving averages are sometimes used to make buy and sell decisions based on whether the instrument's current price is higher or lower than the Moving Average. N Net Equity for Margin: Your Total Equity minus a percentage of the value of any physical shares in your account. This is the equity available in your account to cover the margin required to hold your current positions. For physical shares, only a percentage of their value is considered Net Equity for Margin. Net Exposure: The Net Exposure is the sum of the nominal value of your current positions converted into the base currency of your account. For Forex, this is the total value of all your Forex positions converted to the base currency of your account. Net Free Balance: The Net Free Balance is your Net Equity for Margin minus the Margin Required to hold your current positions. This is the amount you currently have available to invest in new positions. Net Positions: A list of netted (combined) current trade positions held. For examples, if you have a position of 50,000 AUDUSD and one of 30,000 AUDUSD, the net of these positions would be 80,000 AUDUSD. Non-Working Order: An order that will not be activated until a primary working order is at first executed. If the primary order is executed, the non-working order then becomes a working order O One Cancels Other (OCO): A related order type that consists of two working orders. If either of the orders is executed because its market conditions have been met, the related order is automatically cancelled. Option: The right, but not the obligation, to buy (a call option) or sell (a put option) a specific amount of a given instrument, at a specified price (the strike price) during a specified time period. Order: A Trade order to buy or sell a specified instrument. Oscillator: A generic technical analysis indicator that moves up and down within a price range. OTC (Over The Counter): A trade that is negotiated between two parties without the use of an exchange. For example, a security that is not traded on an exchange is known as an OTC security. P PE Ratio: The Price/Earnings Ratio is the price of the stock / Earnings per share. PIP: The smallest increment in any Forex currency-pair. For the EURUSD for example, a movement from 0.9541 to 0.9542 is one pip. Position: An investment in an instrument. When you buy USDJPY trade for example, you open a USDJPY position. When you then execute the opposite trade and sell USDJPY, you close the position. 73
  • Client Station FX Help Price Currency: The second currency of a Forex currency pair. The first currency is known as the trade currency. For GBPUSD (also known as the 'Cable') for example, USD is the price currency and GBP is the trade currency. Profit-taking: Closing a position to take profits. Typically done using a limit order to close a position and take profits automatically when the market breaches a defined level. Proxy: A proxy is a device that acts as an intermediary between a computer and the Internet. Proxies often have a cache built in to make web surfing faster and some also allow the filtering of web content for security purposes. Put option: An option to sell an instrument at a specified bid price. R ROC (Rate Of Change): A chart indicator that shows the amount the price of an instrument has changed over a period of time (rate-of-change). ROC indicates the same information as Momentum but expresses the results as points or a percentage rather than a ratio. As with Momentum, ROC can be useful for identifying whether a price trend is rising, getting stronger, fading or holding steady based on overbought/oversold indications. RSI (Relative Strength Index): A popular chart oscillator that compares the velocity of a single instrument's recent gains and losses and gives this as an index (0 to 100). RSI can be useful for identifying overbought/oversold levels, divergences and can give an indication of market condition (bullish or bearish). S Securities: An investment instrument, other than an insurance policy or fixed annuity, issued by a corporation, government, or other organization. Securities are typically stocks and bonds. Short selling: In Forex trading, going short is buying the price currency of the Forex currency pair. For example, if you were going short on GBPUSD, you would be buying USD by selling GBP. For equities, going short is selling a security without owning it as opposed to going long where you are taking ownership of the security by buying it. Spot: An immediate trade on a live tradable price. Spread: The difference between the Bid price at which you can sell the trading instrument and the Ask price at which you can buy the trading instrument. Standby order: An order that is related to an active order and can replace the active order at the click of a button Status bar: The area at the bottom of the Client Station workspace and on many trading modules used for system messages and status information. Stochastic Flow: A chart indicator that compares the averaged closing price of an instrument to the previous price range over a defined time period. Stochastic indicators are based on the observation that during periods of instrument price increase, closing prices tend to be closer to the top end of the recent price range. Similarly, in periods of price decreases, the closing prices tend to be closer to the lower end of the recent price range. Stop-loss: A stop order that will execute and close a position to limit losses in the case of an adverse market movement. 74
  • Glossary Stop if Bid Order: Stop if Bid orders are typically used to buy the specified instrument in a raising market. If the price level specified in the Price field is actually Bid on the market, the order will be filled at the price offered by the bank. For example, if you sold GBPUSD at 1.4280, with a Stop Bid at 1.4330, the position would be closed (GBPUSD would be bought) if the Bid price hits or breaches 1.4330. Stop is Offer Order: Stop if Offer orders are typically used to sell the specified instrument in a falling market. If the price level specified in the Price field is actually Offered on the market, the order will be filled at the price bid by the bank. For example, if you bought USDJPY at 132.00, with a Stop Offer at 131.50, the position would be closed (USDJPY would be sold) if the Offer price hits or breaches 131.50. Stop Limit Order: In futures trading, a Stop limit is a variation of a stop order, with a lower limit price to suspend trading if the price falls too far before the order is filled. This effectively restricts trading to a defined price range. Stop Order: Stop orders to buy are placed above the current market price and Stop orders to sell are placed below the current market price. If the Bid price for sell orders or Ask price for buy orders is hit or breached in sufficient size, the order will be filled as soon as possible at the price obtainable in the market. Strike: The instrument price specified for an option contract. The specified price (together with other factors such as the option duration and the market volatility) will affect the price for the option contract. Swap price: A price adjustment for a specified period when forward trading, included in the price for the forward date. It is a function of the interest rate differential between the two trading currencies and may be in your favour or against you. T Total Equity: The cash value of your account including Profit and Loss and the current market value of any physical shares in your account. Total Equity = Cash Balance + (Closing Amount + Amounts not Booked + Cost to Close Position). Trade Currency: The first currency of a Forex currency pair. The second currency is known as the price currency. For NZDUSD (also known as the 'Kiwi') for example, NZD is the trade currency and USD is the price currency. Trade Log: A list of all trade activities through the trade and Open Orders modules in Client Station. Trade Order: An order to buy or sell a selected trading instrument as opposed to spot trading that is buying or selling the instrument immediately at a live tradable price. U Use of Equity for Margin: The percentage of your Net Equity for Margin currently used to cover your positions. V Value Date: The date when the settlement of funds for a trade transaction will take place in your account. View: The Client Station workspace is divided into a number of customisable Views to allow you to organize the information and give you optimal use of the space available. Views allow you quick access to a module layout and configuration using the tabs along the top of the View. 75
  • Client Station FX Help W Working Order: An order that will be executed as soon as market conditions allow it. Workspace: In addition to Views, Client Station allows you to save any number of workspaces. Workspaces contain the entire Client Station layout including Views, trading module setups and module settings and are saved as separate files (.wsp files). Y Yield: The increase in the value of a company's stock value plus the dividend paid out per share from one year ago. 76
  • Index 77
  • A Chat log.................................................................50 Access account summary .......................................47 Chat ..................................................................55 chat ..............................................................55 Client Station Forex trade modules...................................31 close.............................................................. 3 Internet connection settings ........................8 layout ...........................................................15 Access ...............................................................9 login password............................................13 menu ............................................................40 Account start ............................................................... 3 activity log ...................................................50 views ............................................................15 open .......................................................45, 46 welcome........................................................ 1 open positions and investments .........39, 48 workspaces .................................................18 setup procedure............................................6 summary ..........................................39, 47, 48 Client Station ...........................................3, 5, 15 Account................................................45, 46, 58 Client Summary.................39, 45, 46, 47, 48, 50 Activity Log .....................................................50 Close Price ......................................................59 Add Communication settings ROC..............................................................70 Alternative Setups.......................................10 view to Client Station..................................15 Comparative Relative Strength ......................67 Add...................................................................70 Connect via proxy server ...........................9, 10 Available Chart Studies ..................................63 Connection errors............................................................20 B Settings screen ............................................ 9 Bollinger Bands ........................................63, 73 Connection ....................................................... 8 Buy/Sell............................................................71 Contact us .......................................................55 Crosshairs on charts ......................................60 C Customise views .............................................15 Call option .......................................................36 Cancel Order ...................................................58 D CFDs Day Order (DO) ................................................57 guaranteed stop ..........................................57 Dealer chat.......................................................55 CFDs ..........................................................45, 46 Deleting Change chart guides.................................................63 password .....................................................13 views ............................................................15 trade order ...................................................57 Deleting............................................................63 views ............................................................15 Direct HTTP Tunneling ...................................10 Change.............................................................15 DNS ..............................................................9, 10 Chart chart time scale...........................................59 Downloading module upgrades.....................14 crosshairs....................................................60 Drag..................................................................43 deleting guides............................................63 Drop Prices freehand guides ..........................................62 Forex Trade Module ....................................43 guides removing .........................................63 information ..................................................59 Drop Prices ......................................................43 information points ......................................59 lines and guides..........................................61 E logarithmic price scale ...............................77 Error module .. 59, 61, 62, 63, 65, 67, 68, 70, 71, 73, messages.....................................................20 74, 75, 76, 77 trade codes ..................................................25 open interest ...............................................76 parallel guides.............................................62 Error ...........................................................20, 25 share trade volume .....................................75 studies .........................................................63 F time scale.....................................................59 Fibonacci zoom in ........................................................75 bands ...........................................................74 Chart ................................................................15 fan...........................................................63, 74 78
  • Index Fibonacci ...................................................63, 74 L Firewall Language selection.........................................49 Troubleshooting..........................................20 Limit .................................................................34 Firewall ....................................................8, 9, 10 Live Trading Version........................................ 6 Forex adding an removing prices ........................41 Logarithmic price scale ..................................77 code .............................................................43 Logging on and off......................................3, 50 crosses ........................................................42 Forward Outright.........................................37 Loss..................................................................13 how to drag and drop prices......................43 Low price .........................................................59 number.........................................................40 open positions ......................................39, 48 M options .........................................................36 MACD .........................................................63, 64 prices .....................................................40, 42 Prices module .................................41, 42, 43 Market ..............................................................34 spot prices...................................................40 Module upgrades ............................................14 Spot Prices module ....................................40 Momentum .................................................64, 68 Trade module ................ 31, 33, 34, 36, 37, 43 trading..........................................................33 Moving trading conditions.................................40, 52 Averages ................................................63, 65 Averages Convergence/Divergence ....63, 64 Forex ..............................................37, 40, 45, 46 Averages Exponential.................................63 Freehand guides in chart ...............................62 Moving .......................................................63, 64 G O General application errors .............................20 One Cancels Other order (OCO) ....................57 Good Til Canceled (GTC)................................57 Open Guides..............................................................61 Forex positions .....................................39, 48 Forex Spot Prices module ..........................40 H interest .........................................................76 Hardware requirements ....................................5 orders.....................................................57, 58 positions ..............................39, 45, 46, 47, 48 High/Low price ..........................................59, 61 price .............................................................59 Horizontal lines ...............................................61 Open.................................................................40 How to Operating system requirements ..................... 5 add and remove instruments .....................41 cancel open orders .....................................58 Option screen ..................................................36 change open orders....................................57 Orders change the display......................................42 cancelling ....................................................58 drag and drop..............................................43 changing ......................................................57 place Forex forward outright orders .........37 If Done..........................................................57 place Forex trade orders ............................34 One Cancels Other (OCO) ..........................57 spot trade Forex..........................................33 Orders ........................................................57, 58 trade Forex options ....................................36 Oscillator ...................................................70, 71 How to ..............................................................37 Overbought/oversold....................64, 67, 68, 70 HTTP ................................................................10 I P Parallel .......................................................61, 62 Illegal................................................................20 Password .................................................3, 6, 13 Information ......................................................75 PC .................................................................5, 20 Insert view .......................................................15 Pin code ............................................................ 6 Internet Connection Settings .................8, 9, 10 Place IP address....................................................9, 20 Forex trade ..........................31, 33, 34, 36, 37 K Port...............................................................9, 10 Key management ........................................6, 20 Price oscillator ................................................70 79
  • Client Station FX Help Prices module .................................................41 Select Time Scale............................................59 Proxy Server Settings.............................7, 9, 10 Select Trading .................................................40 Proxy/Firewall Client.........................................9 Server Name ..................................................... 9 Put option ........................................................36 Setting Connection Settings .................................... 7 R Setup ..............................................................7, 8 Rate Share Trade Volume .......................................75 Change ROC................................................63 Shares ........................................................45, 46 Rate ..................................................................63 Show Chart Cross-Hairs .................................60 Raw Protocol Direct ..........................................9 Simulation........................................................20 Recognise DNS ..............................................................20 Simulation Version........................................... 6 Refresh button ....................................45, 46, 47 SOCKS Protocol Version................................. 9 Regional Setting dialog ..................................20 SOCKS Proxy ..................................................10 Relative Strength Index Socks Proxy Server add ...............................................................67 IP Address ...................................................10 Relative Strength Index ..................................67 Socks Proxy Server ........................................10 Relative Strength Indicator ............................63 Spot Prices ..........................................15, 31, 40 Remember password........................................3 Spot Trade Forex.............................................33 Remote server settings ..............................9, 10 Stochastic Slow.........................................63, 71 Removing Stop ..................................................................34 Bollinger Bands ..........................................73 Studies chart guides.................................................63 Bollinger Bands...........................................73 Fibonacci Fan..............................................74 Fibonacci Fan ..............................................74 Forex crosses..............................................41 Fibonnaci .....................................................74 MACD ...........................................................64 MACD ...........................................................64 momentum...................................................64 Momentum ...................................................68 moving average...........................................65 Moving Averages ........................................65 Oscillator .....................................................70 Oscillator .....................................................70 ROC..............................................................70 ROC ..............................................................70 RSI................................................................67 RSI ................................................................67 Stochastic Flow...........................................71 Stochastic Flow...........................................71 trading modules ..........................................17 Studies .............63, 64, 65, 67, 68, 70, 71, 73, 74 Removing.......................................17, 64, 65, 70 System Requirements ..................................... 5 Rename View...................................................15 Reset Account button...............................47, 49 T ROC TCP/IP ............................................................7, 9 add ...............................................................70 Time Scale .......................................................59 remove .........................................................70 Timeout ............................................................20 ROC..................................................................70 Tradable quotes RSI Forex ............................................................33 add ...............................................................67 Trade remove .........................................................67 account ................................39, 45, 46, 48, 50 RSI..............................................................63, 67 Forex ....................................31, 33, 34, 36, 37 log.................................................................50 S server name .........................................8, 9, 10 Save .................................................................17 Trade ..........................................................15, 31 Save As ............................................................18 Trading Select .........................................................15, 40 menu ......................................................15, 17 modules ...........................................17, 18, 31 Select Font.......................................................42 Trading conditions....................................40, 52 Select Studies .........................67, 68, 70, 71, 73 Troubleshooting..............................................20 80
  • Index U Views customised ...........................................18 URL ..........................................................7, 9, 10 Volumes ...........................................................75 Use HTTP .....................................................9, 10 W User Welcome User ID .................................................3, 6, 10 Client Station Help ....................................... 1 User Name ...............................................9, 10 Welcome ........................................................... 1 V Winsock ...........................................................20 Views Workspaces .....................................................18 adding renaming and deleting ...................15 View menu ...................................................15 Z Views..........................................................15, 77 Zoom ................................................................75 81