Advanced English Dialogue for Business – Automated order entry systems

Listen to a Business English Dialogue about Automated order entry systems

Aaron: Hi Elise, have you ever used an automated order entry system?

Elise: No, what’s that?

Aaron: It’s a computerized system that allows traders to enter and execute orders electronically, without the need for manual intervention.

Elise: Oh, so it’s like a way to place trades automatically?

Aaron: Exactly. It can help streamline the trading process and reduce the potential for human error.

Elise: That sounds useful. So, how do automated order entry systems work?

Aaron: Traders set predefined criteria for their trades, such as price levels or market conditions, and the system automatically executes the orders when those criteria are met.

Elise: I see. Are there any advantages to using automated order entry systems?

Aaron: One advantage is that they can help traders react quickly to market movements and capture opportunities without having to constantly monitor the market.

Elise: That makes sense. So, what are some considerations when using automated order entry systems?

Aaron: Traders need to carefully set and monitor their trading parameters to ensure the system operates as intended and avoid unintended consequences.

Elise: Got it. So, are there any risks associated with using automated order entry systems?

Aaron: Yes, there’s a risk of technical glitches or malfunctions that could lead to unintended trades or losses.

Elise: I understand. So, it’s important for traders to have safeguards in place when using automated order entry systems?

Aaron: Absolutely. Traders should have risk management strategies in place and regularly review and adjust their automated trading parameters as needed.

Elise: Thanks for explaining, Aaron. Automated order entry systems seem like a powerful tool for traders.

Aaron: No problem, Elise. They can be beneficial, but it’s important for traders to use them responsibly and understand their potential risks and limitations.