Position Management

A view of all open currency positions is provided in this window. The information provided is streaming, real time, changing pip by pip as the currency market moves. A description of each column of the position management window is provided below.

Currency: All available currency pairs are listed, even if there is not an open position in that pair.

Net: The sum of all open positions for each currency pair. In the example above, the trader is currently long 200,000 GBP (British Pounds) and short 200,000 USD (U.S. Dollars).

Average Rate: The average exchange rate or price paid/received for all open positions. This is the exchange rate a trader would have to close a position to break even.

Reval Rate: If a day trader would close out an open currency position, he would obtain the Reval Rate. For example, if the trader above would sell the 400,000 EUR/USD he would get a rate of 1.1880 dollars for each Euro being sold. If a trader is long a currency pair, the trading software uses the Bid Rate as the Reval Rate; if short, the platform uses the Ask Rate.

P/L ($): The profit or loss in U.S. Dollars that would be realized if a specific position was closed at the current exchange rate. In the example above, closing the 400,000 EUR/USD at the 1.1880 rate would result in a loss of US$280.

Limit: If a currency trader has an active limit order that is linked to a current position, it will show up in this column. This is the worst price that the trader can have his order executed. In the example above, the trader is long 400,000 EUR/USD. He also has a position order (linked order) placed to sell the 400,000-position at 1.1913 or better.

Stop: This column indicates if there are any linked stop orders to the corresponding position. In the example above, the trader does not have any stop orders linked to the current positions.

PO: The position order (PO) button allows traders to enter, modify, or cancel position orders. A position order is an order that is linked to an individual foreign exchange position. These orders are discussed in the section on placing currency trades using the trading platform.

SQR Button: Gives clients the ability to exit a position with greater ease. Pressing the SQR button automatically executes an offsetting trade to close out the entire open position in a specific currency pair. If the trade is successful, the Net column will show 0, and the deal will appear in the Deal Blotter. To confirm all trade details, check the Activity Log.

P&S: P&S stands for "Point and Shoot." The purpose of this button is to show the trader the individual trades that make up a position in a given currency pair and allow him to close any of those trades.

*** Position orders (linked orders) are cancelled automatically when the position they are associated with is closed or squared. All other currency orders remain open until they are manually cancelled or triggered.

To rearrange the order of the columns of the Position Management window, click and drag the header right or left until it is at the desired position. To adjust the width of a column, position the mouse cursor over the line that divides each cell until a double arrow appears. Click and drag right or left to adjust the column width. To sort rows by a specific category, click once on the corresponding column heading.