2.4 Dashboard

The Fortex dashboard is the fastest and most effective way for creating orders on the fly (Figure 2.4.1). With the display of real-time spread and bid/ask price on a selected currency pair, a click of the mouse places a market order after you manually confirm the amount.

 

Dashboard View

You can view a total of sixteen currency pairs through the dashboard at once. To select the layout and number of currency pairs to view, simply drop down 'View' and make your selection (Figure 2.4.1).

 

Figure 2.4.1

Placing a Market Order

To place a market order through the Fortex dashboard, first enter an amount to buy/sell, then click the appropriate buy/sell button. You will be asked to confirm your order (Firgure 2.4.2).

Figure 2.4.2

Also, by clicking on the 'Order' button to the right of 'Buy', you will be taken directly to an FX Order Entry window where you can set a limit for the order or customize an order (Figure 2.4.3).

Figure 2.4.3

Dashboard Slippage Function

Based on the example below, the user enters an FOK or IOC Limit Buy order at 1.4104 with slippage .0005 (5 pips). When the market jumps from 1.4100 to 1.4107, the Limit order got filled at 1.4107 because the slippage allows the Limit order to be filled at a price between 1.4104 and 1.4109. Without slippage, the Limit order at 1.4104 will not have been filled (Figure 2.4.4).

Figure 2.4.4

To use the slippage function on the dashboard, the user must preset the slippage parameter in the Dashboard User Preference as shown here (Figure 2.4.5). In order to enable the slippage function, the user must choose "Limit Order" in the Price Panel setting. Then, the user can select a slippage value between 0 and 20 expressed in pips.

Figure 2.4.5