The software is developed for set of people who use their own perception as regard
to the market movement and initiate trade with minimum lot. The stop loss is always
placed to protect for any adversity. However, such trader tends to increase the
lot size with every time the market moves in his favour with trailing stop loss
for total traded quantity. This requires frequent assessment of market movement,
modification of stop loss order and placing of new order for additional quantity.
All these activities on continuous basis tend to make trader less efficient in a
short span of trading time.
The "Currency Trader" software gives the trader freedom from all subsequent
activities after initiation of first trade by pressing F1 or + Key for long position
and F2 or ? Key for short position. Once the trade is initiated by the trader, all
other activity is taken care of by software as per predefined setting. The trader
can always choose to book profit even if market is moving in his favour. An online
help is available in the software with display of Net Open Quantity and MTM on real
time basis enabling trader to take quick decision. The software will keep on trading
as per set parameter without any human intervention as long as market moves in favour
of trade. It stops trading in the event of either stop loss getting triggered or
trader chooses to square off his position.
The software is presently having following two restrictions:
- The maximum number lot which can be outstanding (long or short) is restricted to
- The trader is restricted to trade only in current month contract
The salient features of the software are as under:
- It allows trader to initiate first trade, either long or short, based on his own
perception as regard to the market movement.
- Since understanding of market perception is a matter of individual decision for
which each person uses different technical tools, this aspect is left on trader.
- Before initiating the first trade, the trader has to define following parameters
of trading :
- Stop Loss: This can be predefined in terms of price tick at which each trade
will be protected by Stop Loss Order for traded quantity.
- Minimum Quantity: The quantity in terms of lot size to be defined for initiating
any trade in the beginning.
- Tick size to understand favoured market : The tick size defined here will
make software to understand that the market is in favour of trade and so initiate
further trading based on incremental pattern defined by trader.
- Here the software will compare the Traded Price with LTP. If LTP is higher (in case
of long position) or lower (in case of short position) by defined tick size compared
to traded price, it will initiate new trade based on incremental pattern defined
by the trader.
- Incremental Pattern: There are various options available to trader for defining
the incremental trade pattern. For example, if minimum lot size defined by trader
to initiate the trade is 2, then following various option would define the pattern
of lot size trading at each step :
- Arithmetical Progression : 2,4,6,8,10,12.14,16,………..
- Geometrical Progression : 2,4,8,16,32,64,128,256,…….
- Fibonacci Progression : 2,4,6,10,16,26,42,68,……
- Zero Progression : No increment in initial traded lot.
- Incremental Steps: Here trader need to define as to how many steps the software
should proceed in given pattern in case market moves in favour of trade. For example,
if incremental steps given are 6 in Geometrical Progression, then the maximum lot
which software would trade will be 64 (if minimum quantity defined is 2) and beyond
which it will stop trading additional lot. Only stop loss will keep trailing the
market in predefined manner.
- Every time a new trade takes place, the stop loss order will keep on modifying the
Trigger Price and the quantity – here the stop loss quantity will be total number
of lots open in the market at given time.
- Following key to be used for trading :
- F1 or + (plus sign) : For initiating long position or Squaring off short
- F2 or - (minus sign) :For initiating Short Position or Squaring off long
- If software is stopped by trader at point of time when stop loss is pending in the
system, the stop loss will get converted into the market order squaring off all
open position. This is to prevent stop loss order remaining pending in the system
in the event of closure of software.
- Trader can change his perception about the market trend. By pressing F1 or F2 key
twice, the software would not only square off position already built up but also
initiate fresh position on reverse side with minimum lot size and thereafter as
per trading pattern defined by the trader.
In nutshell, the software is smart enough to understand the need of trader and his
risk appetite and accordingly keep trading at fastest possible manner. It also displays
various information on real time basis to help trader in taking right decision for
maximization of profit and minimization of loss.