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| FAST ORDER ENTRY |
| FAST Order Entry Demo | FARRONLINE Order Entry Demo |
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| FARR FINANCIAL
offers two on-line trading platforms. For active traders looking for one of
the fastest ways to enter futures orders, we offer FAST order entry.
For traders looking for a detailed futures or options order entry
platform (and also for spread orders), we offer the FARRONLINE order
entry system. All clients of FARR FINANCIAL are able to trade on both
systems -- you can even use both at the same time. We will explain
each system in detail so that you can harness the power of the latest
trading technology.
FARR FINANCIAL supports trading in ALL futures & options markets around the world. All markets can be traded from our FARRONLINE order entry platform and the orders are routed for the fastest execution possible. FAST Order Entry Description: |
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FAST ORDER ENTRY |
How To Launch / Login |
| 1. When you are inside the customer website, click the "Trade" heading and then click the "FAST Entry" subheading. This will bring up the FAST Order Entry Platform. FAST is a JAVA based applet. So the first time you launch the program, it may take one or two minutes to load into your computer. FAST requires no software -- everything you need is downloaded to your computer upon Launch. |
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After launching the FAST platform, you may be required to enter your Account Number and Password. After entering your correct account number and password you will be presented with two trading screens. The upper screen (which we will refer to as the ORDERS screen) is used to watch the market and initially place orders. The bottom screen (the STATUS screen) is where your orders and trades are displayed and this is where you can modify and cancel existing orders.
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The Orders Screen |
| From the orders screen, you can select
the markets you wish to watch (and trade) by clicking the appropriate
contract in the pull-down menu at the top-left of the ORDERS window.
From the top left, pull down and select with your mouse the markets
you are interested in. The markets will be displayed and their respective
quotes will update. To remove a contract in your ORDERS window, highlight
the contract by clicking the leftmost column of the contract you wish
to remove (this is the 'Contract' column) and then click the 'Remove
Contract' button. At the bottom is the default quantity selection.
Please select an appropriate default quantity by clicking the arrows
to the right of the Quantity field (Up/Down Arrows). |
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I n the snapshot above, we have set our default quantity to '5', and have selected three contracts to watch. The prices would update for us automatically. We are provided with the Last price traded, the Bid Price (the highest price traders are willing to pay), the Bid Size (the number of contracts wanting to be purchased at the bid price), the Ask Price (the lowest price traders are willing to sell at), and the Ask Size (the number of contracts for sale at the ask price). |
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| How To Trade |
| The foundation of the FAST platform is
the ability to enter your orders quickly while minimizing the risk
of order entry error. Active day traders realize the importance of
being able to enter orders as quick as possible without making a costly
error. To bring up an order dialog box, you would click ONE of the following fields: To BUY at the MARKET, click the 'ASK SIZE' column of the market you are interested in trading. To BUY at a LIMIT or STOP price, click the 'ASK' field of the market you wish to trade. To SELL at the MARKET, click the 'BID SIZE' field of the market you are interested in trading. To SELL at a LIMIT or STOP price, click the 'BID' field. When you click a field, an Order Entry Dialog window will pop-up confirming the order. In this window, you will be able to adjust the order quantity, trade price, and order type. When the FAST system is up and running, feel free to click the various fields in the Orders screen of the markets you are interested in to get a feel for how the system works. Don't worry, you will NOT execute an order by simply clicking a field. You will be required to confirm the order before it is placed! (EXCEPTION: The two buttons at bottom of the ORDERS screen labeled "Buy MKT" and "Sell MKT" allow you to instantly buy and sell with a single mouse click. Do not press these buttons until you read about them below. FAST does incorporate an 'active contract' feature to prevent you from accidentally hitting these buttons.) |
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| The snapshot above shows the order dialog
box. This dialog box appeared after clicking the Ask Field of the
E-Mini S&P 500 (The field with the price '1153.50'). |
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Using the Action Buttons / ONE-Click Trading! |
| As a futures trader, you realize the importance
of being able to enter and exit a position as fast as possible. This
is where our Action Buttons come into play. You can BUY or SELL at
the market by clicking one button! Your orders are submitted immediately
(no need to confirm the order). At the bottom of the ORDERS screen are two buttons: "BUY @ MKT" and "SELL @ MKT". These are action buttons that allow you to enter market orders with one click of your mouse. To use the action buttons, highligh the contract you wish to trade (click the left-most column of the market you wish to trade, this would be the contract name/description). By doing this, the contract you are interested in will highlight blue. Now you can utilize the action buttons to BUY or SELL at the market. Please note that part of the security of this ONE-Click system is that you must highlight/select a contract to trade. If you do not have an active contract highlighted, then the action buttons will result in no trading activity. |
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The Status Screen |
| After an order is placed,
it will show up in the Status window. In the status window, you can
review your working "ORDERS", your "FILLS", or
get a summary of your "POSITIONS". Simply click on ORDERS,
FILLS, or POSITIONS to get the appropriate status information. In
this window if you have selected ORDERS, you will be able to cancel
orders by clicking the 'CXL' button or modify/change orders by clicking
the 'MOD' button. Please note that FILLS are confirmed to you via
a pop-up window and also by changing the status of the orders to FILLED.
FILLED orders can be reviewed at anytime during the session by clicking
the 'FILLS' button on the Status Window. |
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| In the snapshot above, you can see there are currently three working orders in the STATUS screen. One of them is in the process of being modified by the trader after having hit the MOD button for order #84077 |
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| The FILLS and POSITIONS tab of the Status Screen |
| The FILLS tab of the status
screen will display all of your FILLS for your trades on the FAST
Platform. The POSITIONS tab will include a summary of your trading
activity for the day (number of buys vs. sells, average buy/sell price,
and current position). The POSITIONS tab will reflect all trading
activity on the FAST Platform and also the FARR Platform if you were
placing trades on the FARR Platform as well. |
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| FREE Training |
| We offer FREE, NO CHARGE
training on using the FAST Order Entry and FARRONLINE Trading Platforms.
The training usually runs about 20 minutes. It is best done over the
telephone while you are at your computer and logged into our trading
platform. This training will go over ALL of the features of the platform
and will include the placement of orders. We encourage all traders
to take advantage of the training, particularly after having opened
a new account. |
| To see how the FARRONLINE
Platform works (which is used for all futures, options, spreads, and
good-til-canceled) orders, please review the
FARRONLINE Trading Platform Demo |
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©
2003 Farr Financial Inc. All Rights Reserved. |