Great video Kent. Thank you for taking the time to make it, and for sharing so much of your thought processes. It was a long video, but for folks like me, who use Fidelity and trade similarly, these videos are pure gold. Again, thank you.
@@ThinkTradeProfit I was thinking a great video would be something around the psyche of the market maker you talk about in this video briefly. How they influence the buying and selling and use some live data/charting to perhaps talk about it. You reference some of this in your video but could be more focused and an interesting video. thx
Hi jodys720, I do still recommed Fidelity as the best of the free commission brokers. With thousands of hours trading with them over the years, I know that their prices are fair and the exceutions are consistently fast. I wish they would do more updates for Fidelity Active Trader Pro, but I know I can rely on the platform. Likewise, in the event of a trade error or another situation where I need to get out of a trade because my power or internet failed (it's rare, but things happen), I can get someone on the phone in seconds to get out of my trade. I hope that helps. Good Luck!
Great stream and scalps on DKNG & GRWG! I believe I understand the stock selection process, but iffy on the directional judgement with 50EMA + PreMarket Gaps. MAE interesting stat!
Hi Pete, Most of the time, yes. There are times when I'll use Market order for entry and exit. I really suggest try to take advantage of the Price Improvements at Fidelity with Market orders if it makes sense for your style of trading. I have received some amazing executions with stocks that have a noticeable spread and then the trade ticks my way almost immediately. You get to experience trades where you can get out at least 'flat' or better at almost any time while enjoying what has become a 'no risk' trade with that first price movement. I hope that helps. Good Luck!
Great video. Just wondering if you ever go long? There were very long runs on Penn. You are a scalper! I didnt think fidelity ATP would be great for scalping. I learned something today. Do you use default share sizes? Change the quantity if you jump from a 20 to 40 dollar stock? Or buy twice. These are the things I'm juggling right now.
Thanks Michael! Answering a few of your questions: I go long, but more of my trades are short, probably 60%/40%. I believe that perspective comes from some of my early training in the markets (late 1990's). Fidelity is great for scalping because the executions are fast and very fair. The UI could use some upgrades to make it easier to do (hot keys, more shortcuts, etc.). With their low cost, I'm happy enough for now. I use default share sizes with some planning in the morning as to what stocks I will most likely be trading. If I switch to something unplanned, I size to whatever makes sense based on the volatility of that stock. My suggestion: treat every trade (idea) equally, just take good trades, and size according to ATR (volatility) and your $ risk for each trade. For me TSLA might be 25 shares with a $4 stop, FB 200 shares with a $0.50 stop, and smaller priced stocks 400-1000 shares with $0.25-$0.10 stops. All those trades have $100 risk.
Hello Sir, thanks a lot for the video and content. I was wondering do you know how to day trade options and get good with execution speed accuracy entering trades and moving stop? I feel it is a very underrated topic as everyone its excited about setups but does not figure out that execution in everything in day trading. Thanks
Hi Trader Growth, Sorry for the delayed reply, I was away from the weekend. See my Fidelity Fast Trades and Executions video -th-cam.com/video/nq6oUospoiE/w-d-xo.html and then my Trade Armor video - th-cam.com/video/V4mLwwJrPiU/w-d-xo.html. Those are the two options for moving stops quickly while daytrading. The Directed Trade window settings have shortcuts for stock and options trades, but moving the stops is different. I manually cancel and replace quickly, while keeping my Orders window near my Directed Trade window. Trade Armor allows you to drag / adjust your Stop Loss in the UI. I hope that helps. Good Luck!
@@shawnstangeland3011 Hey Shawn, TSLA is a wild one one. Let me see what I can do. I don't trade it often, but maybe I can size down a bit, and find some hints from the Level 2 and Times & Sales. I don't usually trade the first 20 minutes of the market open. It has not been very profitable for me. After 9:50am, at least you have more bars on the charts (1 Min and 5 Min).
My newer video is a bit better display of my scalping if you haven't seen it. Less downtime in between trades (edited it out) and more trades. Low Risk Profits in PTON, QCOM, PYPL... th-cam.com/video/sFSEenxtSq0/w-d-xo.html
Yes I am constantly rewatching your videos. Always some fascinating details just casually mentioned about market makers and strategies. Watch the Spy, London market closing time, the forex page for news, 50 day ema support/ resistance and Vwap many others. Thanks again
Could you do a video on how to setup ATP from scratch , I think am struggling with fitting options chain,Directed Trade , chart and filter in my screen, are yours floating or something like . I will appreciate your help....
Hi Japheth, Yes. All my windows are floated outside of the main Active Trader Pro "green" frame. I spread things across a couple monitors. You still need to keep that main frame somewhere, because order cancel pop-us show up there, but move it out of the way and arrange your windows as you like. Save your layout often, and Save a back up when you get to a spot where you like what you have built.
Hi Ann, Thanks for visiting the channel. When you say "you are not able to go short", what kind of message do you get from the platform? There isn't anything special except that for the trade action, you must select 'Sell Short' not 'Sell'. Here are examples from the General Trade ticket and Direct Trade window. imgur.com/tYYHod0 imgur.com/fpNQHwn I suspect there is something else wrong, can you share any error messages from Active Trader Pro?
I just have found these videos today, and I'm intrigued. But so very confused. When he was watching DKNG and the red bar went down and down and he said he just missed it and should have been in it I didn't understand that. Why would you have wanted to be in it a few hundred shares and THEN have it go down?
Hi Morsteen, Thanks for visiting the channel! I had to rewatch the video, but I think you are talking about the potential trade at this point th-cam.com/video/8EoTtAbF3kI/w-d-xo.html I was trying Sell Short. But I was not in a Sell Short trade. I was betting that the price would continue to go lower, so I wanted to sell now and buy back later a little cheaper. You can see the 'Sell Short' queued up in the Directed Trade window. I'll have another video like this one very soon, but with more trades to review. It will have less "down time" in between trades.
@@ThinkTradeProfit yeah, I guess I'm just too much of a layman at this point to even understand your reply lol. I don't understand the timing on this short sell stuff. I thought it would be trying to buy at a little dip and quickly sell when the bar went up a little bit, to make a quick 75 or whatever.
Hi Aris, Thanks for visiting the channel. I'm not aware of special approval for short selling, but check your account for Margin? Is it labeled a Margin or Cash account. You have to have a Margin-approved account for short selling. imgur.com/xwzqE1R
I realized that the purchase price in my position window is higher then the price that is is filled. Do you know why? I have trouble to reach Fidelity customer service. it is like a few dollars higher than the price that get filled.
Make sure the column is 'Unadj Purchase Price'. That should match your fills and it will average correctly if you add to your position. imgur.com/8sQ0S4U
45:35 you should do a voice over then. Maybe you can really concentrate, and still get the point across by voice over later ......... maybe jot down a few notes while you're trading for the later VO if you think you might forget it. Interesting watch nonetheless
@@ThinkTradeProfit Little off topic question for you. What are your general guidelines when choosing a stoploss? Do you have a video on this topic? I know this isn't a simple question, all things considered (or there isn't any one single answer) but what do parameters do you use to choose a stop
@@dizzolve Hey Bobby, have you watched this video? 6 ways to INSTANTLY place BETTER STOP LOSSES (Don't Get Hunted) th-cam.com/video/YEUuxdR9v7A/w-d-xo.html In a nutshell, Average True Range (ATR) is important, you don't want stops too tight so that you get stopped out on "random" fluctuation", stops should be a little farther away than nearest support (if long) or resistance (if short) on whatever time frame you make decisions. I always use a time stop also. If you see a pattern or reason for entry it is likely others have seen the same, if the stock doesn't move in (x minutes/hours) then get out. Otherwise, there could be a stop run and you're rushing to the "exit" with everyone else. For me, when scalping stocks that are not too high priced, I never want to lose more than 0.40 and if a trade hasn't gone in my direction (at least a little) in the first 3 minutes, then I am looking to get out by 7 minutes tops. I have 100's of trades in Tradervue and after reviewing them it seems to be the "sweet spot" for my style.
I would if I could. I looked into this earlier after some inquiries, but our layouts are saved in the cloud with Fidelity. The files are not anywhere on our local machines. It would be a cool feature.
@@ThinkTradeProfit NP, I created my own layout which is similar to yours shown in video. I think I am going to sign up for the 60-day free trial of TD Ameritrade, but I want to learn both, just add options and find my style.
Great video Kent. Thank you for taking the time to make it, and for sharing so much of your thought processes. It was a long video, but for folks like me, who use Fidelity and trade similarly, these videos are pure gold. Again, thank you.
How you timed those looked like magic. Nice wins!
Ken, thanks for sharing the session and how you think. That was very insightful and some of your recommendations are helpful! Keep it up!!!
Thanks Rajcan! More to come.
@@ThinkTradeProfit I was thinking a great video would be something around the psyche of the market maker you talk about in this video briefly. How they influence the buying and selling and use some live data/charting to perhaps talk about it. You reference some of this in your video but could be more focused and an interesting video. thx
@@RajcanSurface That is a good idea Rajcan!
In 2024, do you recommend trading through the Fidelity platform?
Hi jodys720,
I do still recommed Fidelity as the best of the free commission brokers. With thousands of hours trading with them over the years, I know that their prices are fair and the exceutions are consistently fast. I wish they would do more updates for Fidelity Active Trader Pro, but I know I can rely on the platform. Likewise, in the event of a trade error or another situation where I need to get out of a trade because my power or internet failed (it's rare, but things happen), I can get someone on the phone in seconds to get out of my trade. I hope that helps. Good Luck!
Heya Kent - only been watching for a few days, I really like your tutorials and advice too!
Hi G Krazarian,
I'm glad they have been helpful. Thank you for the support!
Thanks Ken - you should make a video on trade ideas set ups if you are running out of video ideas!
Yes! This is a good idea. Let me give it some thought.
Great information as always Kent..
Great stream and scalps on DKNG & GRWG! I believe I understand the stock selection process, but iffy on the directional judgement with 50EMA + PreMarket Gaps. MAE interesting stat!
Thanks Wizard! I was definitely on the wrong side of GRWG at that time.
very clear video. Thanks very much, I hope you can do a lot more like this.
Thanks Tinycreek! I have a plan for more like this.
277 views only. This is some great content. Thanks, Kent. Please keep these coming.
Thanks Rob, I'm glad you got something out of it. I've got more coming that should have more structure.
Thank you for sharing this video. I also use active trader pro. Do you always set limit order to open and market to close?
Hi Pete,
Most of the time, yes. There are times when I'll use Market order for entry and exit. I really suggest try to take advantage of the Price Improvements at Fidelity with Market orders if it makes sense for your style of trading. I have received some amazing executions with stocks that have a noticeable spread and then the trade ticks my way almost immediately. You get to experience trades where you can get out at least 'flat' or better at almost any time while enjoying what has become a 'no risk' trade with that first price movement. I hope that helps. Good Luck!
Great video. Just wondering if you ever go long? There were very long runs on Penn. You are a scalper! I didnt think fidelity ATP would be great for scalping. I learned something today. Do you use default share sizes? Change the quantity if you jump from a 20 to 40 dollar stock? Or buy twice. These are the things I'm juggling right now.
Thanks Michael! Answering a few of your questions: I go long, but more of my trades are short, probably 60%/40%. I believe that perspective comes from some of my early training in the markets (late 1990's). Fidelity is great for scalping because the executions are fast and very fair. The UI could use some upgrades to make it easier to do (hot keys, more shortcuts, etc.). With their low cost, I'm happy enough for now. I use default share sizes with some planning in the morning as to what stocks I will most likely be trading. If I switch to something unplanned, I size to whatever makes sense based on the volatility of that stock. My suggestion: treat every trade (idea) equally, just take good trades, and size according to ATR (volatility) and your $ risk for each trade. For me TSLA might be 25 shares with a $4 stop, FB 200 shares with a $0.50 stop, and smaller priced stocks 400-1000 shares with $0.25-$0.10 stops. All those trades have $100 risk.
Hello Sir, thanks a lot for the video and content. I was wondering do you know how to day trade options and get good with execution speed accuracy entering trades and moving stop? I feel it is a very underrated topic as everyone its excited about setups but does not figure out that execution in everything in day trading. Thanks
Hi Trader Growth,
Sorry for the delayed reply, I was away from the weekend. See my Fidelity Fast Trades and Executions video -th-cam.com/video/nq6oUospoiE/w-d-xo.html and then my Trade Armor video - th-cam.com/video/V4mLwwJrPiU/w-d-xo.html. Those are the two options for moving stops quickly while daytrading. The Directed Trade window settings have shortcuts for stock and options trades, but moving the stops is different. I manually cancel and replace quickly, while keeping my Orders window near my Directed Trade window. Trade Armor allows you to drag / adjust your Stop Loss in the UI. I hope that helps. Good Luck!
Would really like to follow along on a live video scalping Tesla. Mainly what I focus on because of volatility and the depth of the moves.
I have made some huge mistakes getting spooked in the first ten minutes.
@@shawnstangeland3011 Hey Shawn, TSLA is a wild one one. Let me see what I can do. I don't trade it often, but maybe I can size down a bit, and find some hints from the Level 2 and Times & Sales. I don't usually trade the first 20 minutes of the market open. It has not been very profitable for me. After 9:50am, at least you have more bars on the charts (1 Min and 5 Min).
My newer video is a bit better display of my scalping if you haven't seen it. Less downtime in between trades (edited it out) and more trades. Low Risk Profits in PTON, QCOM, PYPL... th-cam.com/video/sFSEenxtSq0/w-d-xo.html
Yes I am constantly rewatching your videos. Always some fascinating details just casually mentioned about market makers and strategies. Watch the Spy, London market closing time, the forex page for news, 50 day ema support/ resistance and Vwap many others. Thanks again
Could you do a video on how to setup ATP from scratch , I think am struggling with fitting options chain,Directed Trade , chart and filter in my screen, are yours floating or something like . I will appreciate your help....
Hi Japheth,
Yes. All my windows are floated outside of the main Active Trader Pro "green" frame. I spread things across a couple monitors. You still need to keep that main frame somewhere, because order cancel pop-us show up there, but move it out of the way and arrange your windows as you like. Save your layout often, and Save a back up when you get to a spot where you like what you have built.
i like this vide a lot very good !
I appreciate the support! Thanks for checking out the channel. Good Luck.
Hi, would you please make a video about short selling ? Got a margin account , however still not able to go short...Thanks in advance.
Hi Ann, Thanks for visiting the channel. When you say "you are not able to go short", what kind of message do you get from the platform? There isn't anything special except that for the trade action, you must select 'Sell Short' not 'Sell'. Here are examples from the General Trade ticket and Direct Trade window. imgur.com/tYYHod0 imgur.com/fpNQHwn I suspect there is something else wrong, can you share any error messages from Active Trader Pro?
Great video, please keep making content!
Thanks S B, I appreciate the support!
I just have found these videos today, and I'm intrigued. But so very confused. When he was watching DKNG and the red bar went down and down and he said he just missed it and should have been in it I didn't understand that. Why would you have wanted to be in it a few hundred shares and THEN have it go down?
Hi Morsteen, Thanks for visiting the channel! I had to rewatch the video, but I think you are talking about the potential trade at this point th-cam.com/video/8EoTtAbF3kI/w-d-xo.html I was trying Sell Short. But I was not in a Sell Short trade. I was betting that the price would continue to go lower, so I wanted to sell now and buy back later a little cheaper. You can see the 'Sell Short' queued up in the Directed Trade window. I'll have another video like this one very soon, but with more trades to review. It will have less "down time" in between trades.
@@ThinkTradeProfit yeah, I guess I'm just too much of a layman at this point to even understand your reply lol. I don't understand the timing on this short sell stuff. I thought it would be trying to buy at a little dip and quickly sell when the bar went up a little bit, to make a quick 75 or whatever.
Hey Kent, i have ATP but I cannot short sell the market. Do I have to get approval to short sell a stock?
Hi Aris, Thanks for visiting the channel. I'm not aware of special approval for short selling, but check your account for Margin? Is it labeled a Margin or Cash account. You have to have a Margin-approved account for short selling. imgur.com/xwzqE1R
I realized that the purchase price in my position window is higher then the price that is is filled. Do you know why? I have trouble to reach Fidelity customer service. it is like a few dollars higher than the price that get filled.
Make sure the column is 'Unadj Purchase Price'. That should match your fills and it will average correctly if you add to your position. imgur.com/8sQ0S4U
@@ThinkTradeProfit thank you so much!
45:35 you should do a voice over then. Maybe you can really concentrate, and still get the point across by voice over later ......... maybe jot down a few notes while you're trading for the later VO if you think you might forget it. Interesting watch nonetheless
Thanks Bobby. I totally agree. I think that's the way to go in the future.
@@ThinkTradeProfit Little off topic question for you. What are your general guidelines when choosing a stoploss? Do you have a video on this topic? I know this isn't a simple question, all things considered (or there isn't any one single answer) but what do parameters do you use to choose a stop
@@dizzolve Hey Bobby, have you watched this video? 6 ways to INSTANTLY place BETTER STOP LOSSES (Don't Get Hunted) th-cam.com/video/YEUuxdR9v7A/w-d-xo.html In a nutshell, Average True Range (ATR) is important, you don't want stops too tight so that you get stopped out on "random" fluctuation", stops should be a little farther away than nearest support (if long) or resistance (if short) on whatever time frame you make decisions. I always use a time stop also. If you see a pattern or reason for entry it is likely others have seen the same, if the stock doesn't move in (x minutes/hours) then get out. Otherwise, there could be a stop run and you're rushing to the "exit" with everyone else. For me, when scalping stocks that are not too high priced, I never want to lose more than 0.40 and if a trade hasn't gone in my direction (at least a little) in the first 3 minutes, then I am looking to get out by 7 minutes tops. I have 100's of trades in Tradervue and after reviewing them it seems to be the "sweet spot" for my style.
@@ThinkTradeProfit Really appreciate the solid reply. I'm going to check out your video.
Would you be willing to share your Layout as a template?
I would if I could. I looked into this earlier after some inquiries, but our layouts are saved in the cloud with Fidelity. The files are not anywhere on our local machines. It would be a cool feature.
@@ThinkTradeProfit NP, I created my own layout which is similar to yours shown in video. I think I am going to sign up for the 60-day free trial of TD Ameritrade, but I want to learn both, just add options and find my style.
Kent that is :-)
Why not go long you could make more money.