6.1
Forex Order Entry
Entering an order in Fortex™ is
simple and speedy. There are four major ways to enter orders: 1. Point & Click in the Market
Watch Window; 2. Point & Click on a position
in the Portfolio Window; 3. Point & Click in the Market
Depth Window; 4. Type in your order from the Order Entry Box
Figure 6.1.1 is an Fortex Floating Forex Order Entry box. You may bring it up from the menu bar Trade > Forex Order Entry or by clicking on the toolbar icon. |
Figure 6.1.1 |
1.
Point & Click in the Market Watch Window If you have a currency symbol quoted
on your Market Watch screen, you can simply double-click on the Bid
Price cell to get a sell order filled into the order entry box with
the inside market bid price. Or you may double-click on the Ask Price
cell to get a buy order filled in with the inside market ask price.You
can also click on the Last Price cell to get the order entry loaded
with the last price and them specify the Buy and Sell actions. Let’s use Figure 6.1.2 as an example. When you double-click on the Ask field 1.2076 of the EUR/USD quote, the floating order entry box pops up with Buy 1 contract of EUR/USD at 1.2076 Limit filled in and designated to your default Route and Account. To submit the order, you just need to hit the [Enter] key or click on the [Send Order] button. |
Figure 6.1.2 |
2. Point & Click
on a position in the Portfolio Window To close
out a position, you just need to simply point and click on such position
in the Portfolio Window. The floating order entry box will self-populate
with all the corresponding information and you just need to hit [Enter]
or click on the [Send Order] button
to submit
the trade. Let’s use
Figure 6.1.3 as an example. If you would like to cover your 9 contracts
long position in EUR/USD at the current market price 1.2065, just simply
point and click on that row. The floating order entry box will pop up as
BUY 9 contracts of EUR/USD at 1.2065 Limit. Hit [Enter] or click on the [Send Order] button
to submit
the order. |
Figure 6.1.3 |
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3. Point & Click in the Market
Depth Window Please read Chapter 11 Market Depth Window.
4. Type in your orders
First, you
may select the currency pair from Forex Pair field. Then, you enter
or select the value in Lot Size, Route and Account fields. At last,
simply click on Bid/Sell button to place a sell market order, or click
on Ask/Buy button to place a buy market order.
Route You can select your prefered liqidate provider or bank from Route field. Route field lists all the availabe routes for the user.
Account You can choose different accounts to
place trades.
Action Buy xgreenx
Sell xpastel-redx Order Type In the Order Type field, select the Order Type, or simply type “L” for limit order, “M” for market order, “S” for stop limit order, and “S” again for stop order, "T" for threshold order. If you select market order, the price field is automatically disabled.
Stop Price - Stop Price for Stop Orders When entering a stop limit or stop market order, please specify your stop price here. Limit Price - Limit Price for Stop Limit Orders When entering a stop limit order, please specify your limit price here.
Lower and Upper Limit Price - Limit Prices for Threshold Orders When entering a threshold order, please specify the lower limit price and the upper limit price here.
TIF - Time in Force For the time in force field, we only
provide Good Till Cancel (GTC) order for the forex trading. |
To refresh the order entry box, click
on the [Refresh] button. Send
Order To submit an Order, click on the [Enter]
key or click [Send Order] button. After your order is sent out, all
the entry boxes flash to green or pastel-red color for one second corresponding
to 5. Cancel To cancel All open orders of selected symbol, click on [All] button. To cancel All Buy orders of selected symbol, click on [All Buys] button. To cancel All Sell orders of selected symbol, click on [All Sells] button. To cancel last order you placed, click on [Last Order] button.
6. Message Message tab shows the last message of an order entry or cancel instruction. In order to see the message, you may click on the arrow on the left of the Message tab.
7. User Preferences Right click on the Order Entry Box and then left click to choose “User Preferences” from the drop-down menu. You will see the User Preferences window for the Order Entry Box. You may change the Order Entry Default, Order Entry Settings and Display Settings here. You can click on the Restore Defaults button to restore to default value. When you finish setting your preferences, click Apply for your change to take effect, then click OK. Click Cancel to disregard the change.
8. Display scheme You may change Display Scheme of Order Entry Box in User Preferences. Fortex currently provides two styles: Institutional and FXbox (Figure 6.1.4).
Figure 6.1.4 |
