The functions are meant for controlling the TradeRoom preferences arranged in this section of the main menu. It is possible to change some registration data, passwords for accessing TradeRoom via the Internet and phone, subscribe to Forexite's news and analytic delivery, to adjust notifications of your account events by e-mail, change the trading and order placement preferences. We've become acquainted with some of the preferences earlier, and the rest of them will be introduced now.
While trading the different instruments, you get the profit (or loss) in different currencies. To simplify the profit/loss tracing, all balances are converted by default into USD. The operation is performed with a conversion spread. If you want the balances to be converted into some other currency, you'll have to change the settings on the "Autoconversion" page.Enlarge [+]
If you do not need to convert the balances for some of the currencies, you can disable the automatic conversion of the currencies you select. However, in this case a lot of different currencies will be accumulated on your account. The automatic conversion is usually disabled for the currencies used for the funds transfers to and from the account. Thus, you save on conversion.
Setting preferences for Forex trading and conversion
You can see the page of the Forex and conversion preferences page on the picture below.
In the "Use instruments" group you can disable the instruments you do not use for trading. The disabled instruments will not be thus displayed in the instrument list. You will use only the marked instruments. For the conversion deals all the instruments are accessible.
In the "Standard amounts" (see the above figure) field it is possible to create your own list of the amounts which will be used for the quote requests for the Forex and conversion trading. You can edit the list as you wish: modify it in any way, delete or add any amounts including even non-round amounts and fractions. E.g., the figure above shows the list of the standard amounts for Forex trades already changed by the user.
The option "Display with enhanced precision" enables the display with the enhanced precision. It covers the open position average rate, points difference between the open position average rate and the current rate, current profit or loss. It is convenient to use if you trade with small amounts. In this case the enabled function allows you to see the precise value of profits/loss. For example:
The option "Allow for Rollovers in average rate" controls the method of calculation of the open position average rate. When enabled, the rate in the "Average rate" column includes all rollovers.
Here is the explanation of the usage of this option. Let you open a position for GBP/USD instrument by buying 200 000 GBP. At the same time the GBP rate starts increasing, therefore, you sustain losses but do not close the position expecting the change of the rate to minimize your losses. At last the rate begins decreasing, and you are going to close the position. However, before the closing you should take into account the rollovers because all the positions you haven't closed were automatically transferred with rollovers to the next value date. According to the position direction (buying or selling) you paid or received some amount for the transfer, from tenths of a point to several points. You can't see the rollovers in the "Average rate" column in the "Open Positions" table. This can create an impression that the unprofitable position can be closed as soon as the current rate is equal to the average one. The option "Allow for Rollover in average rate" is used for not having unnecessary counting. When enabled, the rate in the "Average rate" column will be displayed with all rollovers included. It helps to make a reasonable decision on closing an unprofitable position.
For the detailed information see the article on our web-site "Roll-over of open position" (in Russian).
Changing system preferences
We'd like to draw your attention to another useful feature of the TradeRoom trading system. Opposite to TradeRoom, many competing trading platforms have the time, the date format and that of numbers preset on the company server. TradeRoom is different. You can choose the date and the number format you are used to, on the "System Preferences" page.