Forex Board window allows seeing data and trading the selected instruments with classic Forex interface showing Ask and Bid prices, size and spread. It is very helpful in a highly volatile and liquid market, where trading quickly and with precision is vital.
Creating Forex Board Window
To open a new Forex Board window:
- In the Main Menu go to File, select New and click Forex Board Window;
- Or choose Create New Forex Board Window in the Main toolbar.
In the Format Forex window specify the data source, broker, account, choose the symbol or several symbols, change their order and select “Use as Default” to save the settings as default for the currently used data feed.
If a broker profile is not connected, the tiles of the instruments will be grayed out indicating that trading is not possible.
It is possible to switch between the data providers once a Forex Board window is created. Switching to another data feed closes the existing set of instruments of the the used data source and opens the set of symbols selected for another data source.
It’s not possible to add symbols from different data sources into one list as in the Scanner window.
To avoid the selection of instruments for the data feed each time a Forex Board window is created check the “Use as Default” checkbox in the lower part of the Format Forex window and the selected set of instruments for this data provider will be saved for future.
Understanding Forex Board Window
The instruments in the Forex Board window are originally shown as tiles. Each symbol has its own tile. To the main information fields that are always displayed and cannot be turned off belong:
- The name of the symbol that is displayed in the upper left corner;
- Current Ask and Bid prices that are in blue and red sections correspondingly;
- Sell and Buy buttons that are located under the Bid and Ask prices.
The following options can be enabled/disabled, and the setting will be applied to all tiles in a window:
- Calculator. Used to change the quantity of contracts to Buy or Sell. To enable/disable the Calculator right-click on a tile and check/uncheck Show Quantity.
- High and Low of the day. Displayed in the lower left and right corners correspondingly. To enable/disable this feature right-click on a tile and check/uncheck Show Day High/Low.
- Spread. Shown in the small box between the Bid and Ask prices. To enable/disable right-click on a tile and check/uncheck Show Spread.
- Last Quote Time/Time Since Last Quote. Interchangeable options that are shown in the upper right corner. To enable/disable right-click on a tile and check/uncheck Show Last Quote Time/Show Time Since Last Quote.
It’s also possible to swap the Buy and Sell buttons. To do that right-click on a tile and select Swap “Buy” and “Sell” Buttons.
Three sizes are available for the tiles: small, medium and large. The size can be changed by right-clicking on a tile and selecting Set Tile Size.
The Spread can be shown in 1 or 10 pips. To set the appropriate representation right-click on any place of the Forex Board window and select Set Spread Unit As.
Right-click on an instrument tile allows creating a chart for this instrument in a new window. From the right mouse button menu select Create Chart Window.
It is possible to change the representation of the instruments in the Forex Board window. To do that right-click on a tile and choose View (Tile) -> List. In the List each instrument tile is folded into a line and can be unfolded by clicking on it.
Each instrument line contains the following basic information:
- Name of the instrument;
- Bid and Ask prices;
- Price movement indicators (arrows) that show the latest price movement.
Right-click on any part of the window with the List representation will give you the following options:
- Changing the data source;
- Changing the Broker Profile;
- Changing the account;
- Changing the size of the tiles. The length and width of each instrument lines will be changed.
- Expanding/collapsing of all instrument tiles. For the tiles expanded within a list the following options are not available for changing: Show Quantity, Show Day High/Low, Show Spread, Show Last Quote Time/Show Time Since Last Quote. The expanded tiles will have the same fields enabled as it was set in the Tile representation.
Right-click on an instrument line allows creating a chart for this instrument in a new window. From the right mouse button menu select Create Chart Window.
Right-click on any place of the Forex Board window will also give the opportunity to open the Format Forex Window by selecting Window Properties. Besides the possibility to switch between data sources, broker profiles and accounts this window allows to select/add instruments and change their order via the buttons Top, Up, Down and Bottom or by simply dragging them.
Format Forex Window can be accessed through the Window Properties tile. To enable/disable this tile go to Format -> check/uncheck Show Window Properties tile.
Order placement in a Forex Board window can be done with just one click using the Buy and Sell buttons.
To modify an order enable Require Order Confirmation in File -> Preferences -> Trading tab. If this option’s enabled it allows to specify the order type, quantity and Time in Force when placing an order.