Help with my new HTC Wildfire keyboard?

I just bought an HTC Wildfire and am having some issues typing on it. When you press a key a little dark grey box appears above it with an enlarged image of the letter you just pressed in it. It hovers for a second before going away. If I press another key before that box disappears it replaces the letter I just typed with the next one I pressed. This really slows down my typing. How do I turn that off?