Central Limit Order Book, Price Graphs, VWAP and Excel
If you double click on the Security Name in the main Trading Screen then the above type of window will appear. This window contains the Central Limit Order book for the security name you clicked on, a price graph that is updated in real time and some personal plus general trading statistics. In an "Order Driven Market" all orders are pooled into what is referred to as the Central Limit Order Book. Under the rules of the continuous double auction order driven market bids are preserved by time ranked from best to worst. The best Bid being the highest and in the best Ask is the lowest. In the above screen the best bid is 88.10 and the best ask is 88.60 so the bid/ask spread is 0.50. If you transmit a market sell order then you would sell at 88.10 up to to 10 units so long as your sell order hits the market first. Similarly, if you transmit a market buy order you will buy at 88.60 up to 100 units so long as your market order is the first to be received. Similarly, if you want to be the best bid on the market you would have to raise 88.10 by at least 0.01, or if you want to have the best Ask then you would need to lower 88.60 by at least 0.01.
In the above price graph the bids are displayed in red, the asks in blue and the last traded price in yellow. If you want to you can also display the Buy VWAP, the Sell VWAP and VWAP. So what is VWAP? This stands for Volume Weighted Average Price. Beside the graph is displayed in addition your own personal Buy VWAP and personal Sell VWAP if you have traded. As a trader you would like to see your Buy VWAP's being lower than your Sell VWAPs.
The remaining numbers in the support screen are not used in the current case and can be ignored.
Other Support Screens? You can click on the support menu as depicted below but another powerful source of support is to link the FTS Trader to Excel in real time. This allows you to build your own trading support using all of the flexibility and power provided by Excel. This even includes program trading if you want to! In order to link to Excel first launch Excel and open a new workbook that has at least two spreadsheets in it. Next click on File, Excel link as depicted below:
The following screen will then appear:
Click on Find Excel Workbooks and if you forgot to launch Excel you will now receive a message that Excel is not running. Otherwise link to Excel choosing separate spreadsheets for Market Data and Trading History. Excel will now appear as follows:
That is, all prices and a bunch of other data is now linked in real time to the cells as above where the first security is in row 3, second in row 4 etc.,. All column labels are fixed --- so you can build your support around the prices/data coming into the various cells.
By running the interactive demo you can explore the Excel link and play around with designing your own Excel support system.