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Instructions |
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Example |
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My name is (Trader's Name), account ID number XXXX.
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Customer: "Hi, my name
is Joe Smith, account number 5029." |
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Please give me a price
on USD/JPY (or USD/CHF, or EUR/USD, or GBP/USD) for (number of lots
you want to trade) lot(s).
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Customer: "Please give me a price on USD/JPY for 3 lots."
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The dealer will
respond with a 2-way price quote.
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Dealer: USD/JPY at: 125.10 - 125.15 |
(You can either buy
USD/JPY at 125.15 or sell USD/JPY at 125.10.)
To buy USD/JPY, you can say any of the following:
"15", "I buy", "I buy at 15", "mine", or "mine at 15".
To sell USD/JPY, you can say any of the following:
"10", "I sell", "I sell at 10", "yours", or "yours at 10".
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Customer: "I buy at 15." |
(You would normally
have 3-5 seconds to respond prior to a price change, depending on
market volatility.)
If no response is given and the price changes, the dealer will say "change",
"price change", "off" or "your risk". In this case, you may ask for
the price again.
If you do respond with a buy/sell, the dealer will say, "done" or
indicate to you that your trade is executed. You can also state to the
dealer that you would like your stop-loss at __, and a limit at ___. |
Dealer: "Done."
Customer: "Place a stop-loss at 124.80 and a limit at 126.00."
Dealer: "Got it." (The dealer will then hang up.) |
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