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Improve FX Trade Executions with the WTE Module on CYBMIND

Something we have learnt over our years in the financial industry is that whether you are a discretionary or systematic trader, a great trade execution is characterised by both your strategy and timing. To improve your FX trade execution, therefore, you need greater control over those two factors, and the WTE module included in our CYBMIND software does that spectacularly well.

 

What is the WTE Module on CYBMIND?

While all trading platforms out there allow you to send market, limit, and stop orders, few of them actually give you the ability to do so in milliseconds at specific times that meet your requirements.

CYBMIND, however, works differently. This strategy automation software has been designed by us from the ground up in order to help traders like you improve their FX trade executions through sophisticated execution module configuration.

One way it does this is through our signature WTE module.

  • Wait: This refers to the fact that the module can hold on to your pending orders until the time is ripe for Execution. This saves you the hassle of deciding when to manually send them out to your broker, and it also keeps your future strategy close to home, rather than on the broker’s books.
  • Trigger: This action only happens when your rules have been met. These rules can be anything you decide is worth looking out for, be it limits, prices, or market volatility. In order to ensure it always acts quickly, the WTE module processes market data in real-time to see when is the time to send your orders to the Execution phase is. Of course, this can also be used to stop trades.
  • Execution: The last step in this process is the Execution one, which can be of any type, be it to stop, limit, or send to market. This helps reduce instances where orders are sent out or stopped too late due to human error or unavailability.

 

How can the WTE module Improve Your FX Trade Execution?

Holding on to your orders and sending them out to your broker when the time is right allows you to keep some aces up your sleeve and stops others from copying your strategy. Even so, it gives you enough time to react to market triggers.

To explain how this could work in a day-to-day scenario, let’s say you wanted to buy a certain security and the market price for it was still higher than the price you were looking for. Using the WTE module, you can skip the buy-limit order, and instead set a rule for the software to place your order as soon as the market goes down to your preferred level. That’s literally it!

More importantly, the Execution and the Trigger do not need to have the same parameters: you can choose a limit as a Trigger, but a market price as an Execution. The same can be done for stop orders, which the WTE can trigger as a stop and then execute as limit. 

So, by combining different WTE configurations, you can place your orders and execute them as needed with very little manual work!

 

Improve Your Trading Performance Through CYBMIND with Integrated Spotfire®

Our WTE module can indeed change the way you trade and reduce your reaction time to just milliseconds. If this sounds like something that could benefit your trading business, then get in touch with us. We’d be more than happy to explain exactly how CYBMIND and its integrated Spotfire® capabilities and WTE module, can improve your FX trade executions.