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Selecting the Currency Pair for a Network Session

The currency pair is available from a drop down list, including some hypothetical currency pairs such as the USD/XXX. Most traded currency pairs are available.

The initial session ID usually has the default value '1'.


Running a session from Canned Rates ("Run Data Supplier")

When you start a session, you will have to decide whether it will be a session that uses 'canned rates', or it will be a 'virtual market' session.

A session that uses canned rates will need the 'Data Supplier' to be running

A virtual market session does not need the Data Supplier.(This is a bit of software that runs in the background and feeds the rates from a DAD file. Please refer to the DAD help system (in the client suite) on how to set up scenarios.)


Disabling the Position Statistics ("Disable Position Stats")

Selecting this stops the client user from seeing his position and p&l figures.

Ideal for teaching the principles of position keeping. It means that the trader is forced to keep his position on a piece of paper or on the back of the proverbial cigarette packet, in the time-honoured fashion before computers showed real-time position information.


Forcing a Session Recovery ("Must Recover Sesson")

(default=on) This is to stop the clients from sabotaging a bad session and starting afresh: they cannot start a new session as long as the present network session is live.


Speeding up the responses in conversational trading ("Allow Fast Prompts")

(default=on) In line with actual trading room practice, shortcuts in conversational trading are allowed.

This makes it quicker to complete a trade when using conversational trading. Just pressing a number on the number pad or keyboard brings up a pre-defined response from a menu.


Controlling the number of available trading conversations ("Maximum Conversations")

The number of open trading conversations a user may have open concurrently. For beginners, 1 is suitable, building to 4 for advanced users.

Having 4 trading conversations going at a time requires a great deal of concentration, but if it can be mastered, allows a lot more liquidity for the trader.


Controlling the auto transaction system ("AutoTransact")

AutoTransact is where a virtual customer on a client's session can be set to automatically request a trade with the client, based on the current market price.

It is the essence of trading in the interbank market, because the market is driven by the traders' interaction with their customers and their trades and how they handle the resultant risk

Their are three categories of customer: ‘A’ customers trade within the market spread (very aggressive), 'B' at the market price and 'C' outside the market price.

This is particularly useful when running a 'virtual market' session, as one or more robot clients can be set up and combined with the 'keep square' setting (a mechanism that squares any outstanding positions at regular intervals), can 'drive' the market.

When the parameters for the session are set, click "Accept Settings"



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