Forex
Position Management
The position management
window provides a summary view of all current positions. The information
in this window is updated in real time, changing tick by tick as the
market moves.
Currency:
The column lists all available currency pairs, even if you don't have
an open position in that pair.
Net: Lists
the net total of all your positions in that currency pair. It represents
the amount of the currency in which lots are traded. For example, if
you were long 300,000 AUD at one rate and sold 500,000 AUD at a different
rate, your Net total would be -200,000 AUD.
Average Rate:
The average rate of your open positions. Represents the rate at which
you would have to close your position to end up flat.
Reval Rate:
The current rate at which you could close out your position. If you
are long, the system uses the bid rate (and vice versa) to determine
your unrealized gain/loss and P&L.
P/L ($):
The profit or loss in USD that you would realize if you closed your
position now, at the rate currently available.
Limit: This
column shows a value other than "0.0000" if there is an active
limit order in the system that is linked to a current position; for
example, the 400,000 long EUR/USD position above has a linked order
(Position Order) to sell the 4-lot position at a rate of 1.1913 or higher.
Stop: Shows
a value other than "0.0000" if there is an active stop order
linked to an existing forex position. There are no stop orders linked
to the currency pairs shown in the example above.
PO: Traders
can use this button to enter, modify, or cancel position orders (PO's).
A position order is an order that is associated with an individual FX
position. PO's are discussed in the section
on executing forex trades.
SQR: Automatically
executes an offsetting transaction to close out the entire open position
in a specific currency. This makes it easier to get out of an entire
position quickly. After the trade is executed, the "Net" column
will show the number "0", and the information will appear
in the Deal Blotter. Check the Activity Log to confirm the details of
every transaction.
P&S:
"Point and Shoot." Allows
the trader to see the individual transactions that make up the entire
position in a currency pair and close any part of the position that
corresponds to the individual transactions.
IMPORTANT:
Position orders are cancelled automatically by the system when the position
they are linked to is squared or closed. All other forex orders remain
open until they are triggered or manually cancelled.
The position management
can be configured by the trader in different ways. To rearrange the
column order, click and drag the header right or left until the column
is in the desired position. To adjust the column width, hold the cursor
over the cell dividing line to get a double arrow, then click and drag
it right or left to adjust until the desired width is attained. Click
on a column heading to sort the rows by that category.
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