It amazes me how well you can move around and use ATP to its fullest extent. I wish i had someone near me that could walk me threw ATP. Thanks so much for the video. I get a lot out of them.
Thanks again for the support! I appreciate it. It's mostly practice and repetition over 2 years. Just pick an area that you haven't explored before, and give it 15 minutes a day.
Hey Ken. Great Video! I love that you get right down into it without a bunch of intro and chatting. very informative and well explained. I'll definitely be watching more!
Hi STL Jay, Thanks for the positive feedback. Absolutely, using Trade Armor is good for "set it, and forget it" trades. Let it do it's thing, whether it hits your profit target or stop loss. Good Luck!
Hi Vincent, I'm glad it was helpful. Thanks for the positive feedback. I try to answer all questions in the Comments of videos (given enought time). Feel free to reach out with if you have any. Good Luck!
Great video. Exactly what I was looking for on TH-cam. Been trying to dig more into conditional orders for stops and price targets for option scalps. Thank you for taking the time! Cheers
I revisit your videos occasionally as not everyone uses ATP and this is one that I watched this morning. I didn't realize you could trade options on TA. I like it I think. I'm going to try it next week side by side with Trading View Charts and UW Flow and see how it goes. Thanks for your videos. I feel like ATP users are in the minority on options but for some reason I stay with Fidelity. I wish their charting was usable so I could save money on TV.
For some reason I thought trade armor was some sort of insurance you paid a premium for. I love that I can move the stop and TP level visually. It beats trading within the option chain like I have been.
Hi QuickShotZz, Apologies for the delayed reply, I have been on vacation. Yes! Trade Armor works well for options. Thanks for supporting the channel. Good Luck!
I agree. Trade Armor is good for longer trades where you want to set a profit target and stop loss and leave it alone. Thanks for supporting the channel. Good Luck!
Hi Matt T, I'm glad it was helpful, and thank you for the support. You're right, it's a great tool to 'plan the trade, then set it and forget it'. If any questions come up, feel free to ask in the Comments of videos. With a little bit of time, I try to answer of all them. Good Luck!
FYI, Trade Armor is available on fidelity.com also. This is good to know if you are away from your pc, as it is not available on their mobile app. I sometimes like to trade on my tablet.
To scalp are you using directed trade? I find it cumbersome to use for in / out. So many issues, setting router per stock in extended hours, it IS auto during normal day hours. I think hot keys are needed or a UI dedicated to day trading. If you could move the bracket in trade armor in real-time with the movement of the stock, that would be excellent. The fact you have to hit at least one other button (if you turn off preview and place buttons is just too slow IMO). Thought? Did I miss something?
Yes, I always use directed trade with the shortcut buttons and preview turned off. I wish there were hot keys. I rarely trade premarket. I leave it to AUTO during normal day hours. It as fast as it can be. I preload my orders for entry and exit and wait and watch the stock, only having to hit 'Place' to execute. It's not perfect, but the Price Improvements I get and the speed of execution (instant) is worth it. I'm getting an average of .04/share on PYPL in price improvements alone on my market orders. I trade a lot so it adds up.
Hi Markus, I'm glad it was helpful. Thanks for supporting the channel. If any questions come up, I try to answer all of them in time. Feel free to put them in the Comments section of videos. Good Luck!
Same here... I just discovered the potential of my Fidelity account. Too bad I am clueless and made my first stock trade ever in my life this morning for $100 of UONEK... Maybe a stupid move, but it will get me experience at least while I search a better stock out. After all, I have struggled for the past few years and lived my 401k/IRA down to nothing having NO CLUE about day trading. Now I don't have but a few hundred dollars and hoping to maybe slowly work my way up from small profits to big. Your videos are AWESOME... thank you!!
Hey Ken, wow, Super Helpful with the Trade Armor walk through. Thanks for digging in deeper on this platform! I'm beginning to incorporate macros to change my share sizes for the hot buttons in order to manage risk/reward on a play, but kind of quicker. Have you tried Macros yet? Pulover Macro creator. No, I'm not affiliated.... just trying to do better hot-keys aka hot buttons like the big guys ;-) I also have been learning a lot from SMB Capital's videos, really great content. Thanks for your vids!
Hi CigRacing, Thanks for sharing Pulover Macro! I'm looking at it now. I tried my own version of coding hotkeys with AutoHotKey last year, but it felt slow and clunky (probably my code). I'll give this a shot. The SMB guys are great, no doubt. I continue to watch everything they put out. Good Luck!
Hi Sam, Good question. I think this site is a decent start - candlestickchart.com/glossary/listing. I would go quickly through them all under the 'Indicator Glossary' in the Education section imgur.com/xhGdGef. Then, maybe focus on 5 per week and start scanning stocks for them (real world practice). When you get comfortable, I would start using TradingView - www.tradingview.com/scripts/candlestick/ There are so many free, shared scripts you can apply to charts for backtesting and real-time analysis, using a free TradingView account, but TradingView can be a little overwhelming at first if you are not used to the UI. I hope that helps. Good Luck!
Very helpful video. Your videos are terrific! I also use Fidelity. I agree, there are lots to things to change when scalping - so it is truly slow for fast markets. Thanks much for your videos. I always learn some valuable information!
Hey Shawn! It's good to learn everything. Look at the Conditional Orders too (outside of Trade Armor). Cool stuff you can do there, like setup orders to Buy/Sell one Stock when another Stock/Index is up or down X% or X$.
Hi 722marine, Thanks for the support! Feel free to reach out with any questions in the Comments section of videos. I try to answer all of them (in time). Good Luck!
Your channel has been so helpful learning the functionality of ATP, I've put a lot of your suggestions into good practice....thank you for sharing all you do! Earlier this week ATP completely shut down within a minute or two of the open and when I brought the platform back up, all of my layouts were gone, including the Directed Trade short cuts. As a result, everything needed to be set back up - not ideal with the market moving and one of my planned entries being missed during that time. Have you ever experienced this with ATP?
Hi K H, Thanks for the positive feedback on the videos! I haven't experienced that issue exactly, but one thing I have learned is that all layouts and chart settings are saved in the cloud (at Fidelity). They also have multiple quote servers and constantly monitor them. For quote problems, they suggest reconnecting or log out and login. I wonder if there was just a connection issue to their servers temporarily for you, and that maybe you didn't need to recreate your entire layout.
@@ThinkTradeProfit I did get an application error and message informing me that my custom layouts and trade settings for ATP were unavailable. After logging out and back in there was nothing saved and unfortunately no prior layouts/settings have reappeared since. I'll have to contact Fidelity with the error # recorded to inquire re the occurrence. Aside from that, I do like ATP!
Hi Mark, Thanks! I appreciate the support. If you ever have questions, feel free to reach out in the Comments of videos. I try to reply as time permits. Good Luck!
Hey Kent I just subscribed to your channel. You have really great tips to help navigate the APT platform! I have been looking for someone who is very knowledgeable of the platform and you are! Thank you for your time making these videos. I am trying to scalp on this platform and before I found you, I was ready to drop Fidelity. I was conflicted because I really liked the technicals/ knowledge base the platform provides. I just couldn’t seem to execute fast enough. At least 4 clicks to fill orders. Can you recommend a video of yours for a set up for day trading/ scalping? Also, how can I set timeframes so I can see penny increments on 1-5 minute daily time frames? It seems to default to 2-5-10 cent increments. Thanks again! Scott
Hi Scott, Thanks for the support! You should definitely check out the Fidelity | Day Trading Screen Layout video - th-cam.com/video/9p_PRqFhah0/w-d-xo.html You can only get penny increments if you zoom in enough and stretch the graph using those "arrow" thingies, like this - imgur.com/rnZFehX
Day trader new to your video's. Very impressed. Can you try and improve the sound? I have hearing aids but have to constantly stop video, back up and repeat your excellent video to get an important word or try and see your cursor. Thanks.
Hi Neil, thanks for supporting the channel! I will definitely make improvement in this area. Some of my older videos have audio issues. Thank you for the feedback.
@@ThinkTradeProfit- Strange Ken, and it's not just your great video's but other narrators as well. Maybe repeating an important word and particularly repeat the new window name you just went to. When watching your video Ken I have the same window open on my dual screen. I can then stop you, take a snip & sketch, print it for my 3-ring Ken's videos notebook. It prints on top half of 8-1/2 x 11 paper with space below for notes, etc. Makes for great summary of the topic and with the video time showing on my copy its very easy to go back and view later if necessary. As I re-read this I may have helped you improve the sound easily. Just repeat important words , etc. I'm a new Fidelity platform user and a great time saver would be for Fidelity's 3rd party provider to provide all share quantity boxes with up/down arrows in 100 increments which can be done with the mouse and not requiring going from mouse to keyboard a cumbersome costly time consumer. They must be the only day trading platform not offering this feature. Keep up good work Ken and mention your name once in a while. After many hours I think you mentioned your name once and I could not decipher your last name after many repeats. Neil Butterfield
The contingent is cool. Can you set it to buy/sell an option if the underlying stock meets some price criteria? Like market sell my call when stock price hits 50.
Hi kyleucf, Yes! I agree. It's a very cool option. You can setup so many different triggers to buy or sell different stocks or options, even completely unrelated things.
Thanks so much for posting this video, I learned a lot. However, as you mentioned there is a lot to fill out in the trade ticket window, so it makes fast scalping hard. I just want to be able to buy a stock quickly, while also setting a stop loss. What do you think is the best way to do that in Fidelity and would you recommend any other brokers for fast executions with stop losses?
Thanks for visiting the channel! Have you seen the Fast Trades - Entry and Execution video? th-cam.com/video/nq6oUospoiE/w-d-xo.html You can create shortcuts for fast entries and exits (with a stop loss and profit target). One click fills all the predetermined values, then you you can hit 'Place' to send.
@@ThinkTradeProfit Thanks for the reply and the link, that was another great video. You've really shown me the true power of Active Trader Pro. Keep up the great work and I can't wait to see what you post next. :)
Hi Mayaman Marne , Using the Directed Trade window, you can choose a couple different direct access routes. More information about that is here - www.fidelity.com/products/atbt/help/ActiveTraderTools_Trade_Help.html#availableroutes I have used the AUTO route for the past year and have received very fast executions with price improvements on a high percentage of my market orders. The ARCA route is another which is very popular. You can choose the direct access route yourself by changing the field 'Route:' - imgur.com/fpNQHwn Good Luck!
Hi lifelessplum, Unfortunately, no. There isn't any feature to support that. I think the best you could do if you were on longer time frames would be to recalculate your stoploss daily. There are some interesting trigger values you can use for Conditional Orders - www.fidelity.com/learning-center/trading-investing/trading/conditional-order-types But, I know these are not exactly what you are looking for. Good Luck!
Hi Ken, No, Trade Armor is another way to enter trades inside of Active Trader Pro. It is still there. It is best for "set & forget" type trades where you know for Profit Target and Stop Loss and want those entered. It is not good for quick scalp trading. Active Trader Pro does not have Renko brick charting, and the smallest intradday time frame is 1 minute for charts. Here is a list of the Chart Styles available - imgur.com/a/lgdCMsI I hope that helps. Good Luck!
hey man, great video, I was looking to find a way to execute fast buys and sells while looking at at the stock moving live..do you have a set up that you can share in fidelity active trade pro ? Im new so my apologies to the lack of terminology and knowledge....:) thanks
Hi IT-TechExpert, Thanks for the positive feedback. I demostrate my stock shortcut keys here - th-cam.com/video/nq6oUospoiE/w-d-xo.html .This is the fastest way to enter trades in voltile markets. I hope that helps. Good Luck!
Regarding stops, I thought stop was the one which stopped at the next market order and stop limit stopped you at the limit price? (the opposite of what you say in video?)
It's a little confusing but all Stop orders have a Stop price, that is when the Stop Order activates. So the simpler Stop order (has a price which you set, the Stop Price) becomes a market order when your stock trades at that price. The Stop Limit Order (also has a price which you set, the Stop price) becomes a Limit Order when activated at the Limit price you choose (which can be the same or different from your Stop price).
Thanks for the video you explain thing very well. I also trade fidelity. 2 things. Do you ever with the multitrade ticket. As you well know speed is the key. I also use buttons on directed trade. Preset are 10k buy, 10k sell. 5k buy and 5k sell. 2k same thing. This helps. I also keep 2 directed trade ticket open for both that im watching. Problems with FATP. Charts or open windows disappear when moving other tools. Any feedback would be great.
Hi Michael, thanks for your support! I have used the Multitrade ticket before, but I think it is only good for situations where you want to queue up orders for many positions to be exited at the same time (Limit or Market). I think Directed Trade is better in almost all other cases. Yes, the "snapping" of windows is a little imperfect if you tend to move windows around during trading. I agree that this needs improvement.
Ken, would you recommend using % stop loss for every scalp or daytrade? I buy many stocks in different price ranges . I also use different amount of position size based on time of day and price of the stock. Looking for a way to simplify my stop. also thinking about doing this as my day job. thoughts? BTW I usually use a mental stop. Feel like im vulnerable to quick market drops. Then take the hit or hold and hope lol?
Hi Michael, Going full time is tough. I would recommend a lot of part-time trades with good record keeping (www.tradervue.com/). Be realy honest with yourself, and fix your mistakes. I use ATR(14) as a guide to adjusting my stops (wider or tighter) depending on time of day and volatility. I think mental stops are 'ok' but you have to be willing to pull the trigger. Every 2-3 months, there will be a move that happens so fast and so large that you cannot believe it won't bounce back...and then it will not bounce back and you will get stuck with a large loss. It would also be good to think of a complimenta5ry swing style to balance your scalp/day trades to even things out a little when the bad scalp / daytrading days come.
Thanks Ken. Great content! Another question. Once the bracket order is setup on trade armor; does it execute at the same speed as directed trade when you hit place (at least for the main order)? It looked laggy on your example. I always want to enter the market with a stop loss attached so was hoping to use this trade armor feature (but still need the fast execution). Thanks again for your help!
I was interested in using OTOCO in trade armor. Haven't tried it in an actual trade yet. The problem is always the distance. In an IRA, I cannot buy with a merket order, so I must switch it to a limit order, the default setting is always too close to place an order, so it's been too cumbersome to use.
Hi Time to Relax & Focus, I saw your question, but maybe you deleted it? "Do you use directed trade more or trade armor more?" For me, I use Directed Trade more. If you were swing trading and didn't need to do a lot of quick scalping, Trader Armor is too bad, because of the ease in which you can move your profit target and stop loss. I hope that helps. Good Luck!
@@ThinkTradeProfit Hi, yah I deleted my comment because I realized later in the video, you mentioned you use Directed trade more. I do too. Directed trade takes too long to setup my OTOCO or OTO for me and that window too small. I agreed with your takes. Thanks much.
Hi Mark, Unfortunately, you are correct. The easiest way is to right-click on something in the Option Chain window, then pick the strategy, which then opens the Multi Leg Option Trade window. Thanks for supporting the channel. Good Luck!
@@ThinkTradeProfit Thanks for the reply. I also like the "Trade In Chain" where I can simply click on the Bid/Ask prices to input the legs of the strategy. Unfortunately, does not allow to set an alert for multi-leg option strategies like Thinkorswim does. Thinkorswim remains much superior in my opinion.
Is there minimum number of shares required to use OTOCO? Can I use for 10 or 20 shares? I heard market makers can cancel stop order. Is it true? Thanks
Hi Braveheart S, Apologies for the delayed reply, I was on vacation. Yes, you can use OTOCO for less than 100 shares, 10, 20, or whatever you like. There is some small print about market makers and stop orders on the Fidelity website - "The specialists on the various exchanges and market makers have the right to refuse stop orders under certain market conditions. Not all securities or trading sessions (pre- and post-market) are eligible for stop orders." I have never had a problem with STOP orders getting cancelled. I hope that helps. Good Luck!
Hi can we use trade armor in trading options. I'm used to forex mt4 you can set sl and tp and things are simple. Options seem to be a bit more difficult to do this in
@@ThinkTradeProfit thank you. Can't figure it out. So if I'm in an existing options contract, can I open it in trade armor, use the lines provided to draw my tp & sl?
Hi Jonathan, Thanks for supporting the channel. I answered in your other Comment, but will include here in case others who watch this video wonder. Unfortunately, Fidelity does not have a Level 2 ladder than can be leveraged for order entry. While I believe their executions and speed are better than thinkorswim/TDAmeritrade (I have accounts at TD Ameritrade), they are have a ways to go in matching features for the active daytrader.
@@ThinkTradeProfit Question - after I put in an OTOCO order (eg. buy at 100 target 103 and stop loss at 99) and I want to get out of the trade at 101.50, how does the execution flow work. It seems to me that you have to first cancel the two OCO orders and then execute the sell order. Thanks.
@@jonathanlance2166 During regular market hours, I believe you can cancel the original Buy order and it will cancel the other two. You can set some default ranges in Settings > Trade for Ttrade Armor so that those are pre-populated. I think the most important thing is to get your new Buy order in quickly. imgur.com/zxfr5AM Once that is in place, as long as you have the ticker symbol in your Trader Armor window, you can adjust (Cancel & Replace) the other two open trades with the sliders, changing the vlaues from the Settings defaults. imgur.com/s3S7uPj One Cancel, then re-enter OTOCO with default Upper and Lower Limit from settings. Then adjust those. I hope that helps.
Can conditional orders be applied to closing options? I would like to close a call option when the underlying stock reaches my target price. If so, please provide general instructions
Hi Angela, Yes! Go to Trade & Orders > Conditional Trade > in the Conditional Trade window in the upper right change the 'Trade Type' dropdown to Contingent. Above the order fields help text displays "IF this condition is met... THEN place this order" to guide you. Here is my example with PTON - imgur.com/WY4Z4UI The first order window has the IF condition: PTON Last trade greater than or equal to 160. The second order window has the action THEN place this order: (PTON call) Sell to Close at Market.
@@ThinkTradeProfit thanks for the response. I would like for the TIF to be good until cancel. Is that a complicated/tricky transaction since I don't necessarily know what the option prices will be at the time of my desired price target of the underlying stock? My break even is $15.53. My premium was $1.53 and my desired target price for the stock is $20.
@@alexisperkins105 Not tricky at all to set Good Til Cancelled. Set in both sides (GTC). Then for the Option Sale set the Limit Price to the minimum you will accept after the stock gets to its price. You'll get filled at your Limit or better (if the market is trading much higher for your option.
@@ThinkTradeProfit very nice video ! Quick question , how did you add the PTON option strike in the symbol drop down ? Can I add multiple strikes from different tickers in the symbol drop down ?
@@ankitshah692 Hi Ankit, Thanks for the support! I had to lookup the PTON option strike/symbol first. Quickest way is to open Option Chain and start an order. The default trade ticket will have the option strike/symbol. imgur.com/ZCH4gOn Then copy & paste where you need. Yes, you can have multiples in the symbol dropdown. By deafult, your most recent symbols you have viewed show in a list , but you can also pin the ones you are using the most to the top of the list. imgur.com/VKI9twk I hope that helps. Good Luck!
I had some audio complaints with my old setup, but I got a new mic at the end of June. Any videos published after July 1, 2020 should have good audio/volume.
Hi Rajish, There are some settings for this, go to Settings > Trade > Stock Defaults. You can set the Upper and Lower Exit prices by $ amount or % amount. imgur.com/iptCqtt
Hi L P, Unfortunately, they do not have it as an option in Trade Armor, but as you have probably seen, they do have the Buy to Cover (OCO) to close a short trade. I looked in Conditional Trades (go to Trade & Orders > Conditional Trade) imgur.com/c48wUt5 imgur.com/yW3p4Pi . It's not option there either. I haven't thought it through completely, but there must be a reason they haven't configured it for the "short" side. I think the best is to do it separately (in Trade Armor). Short sale first, then place the Buy to Cover Bracket (OCO).
@@charlesamberwilliams1257 Hi Charles & Amber, Thanks for the support! I use a free account at tradingview.com to chart VWAP on a chart in the browser on the side.
Hi Apa and Momo, Yes, but you would control that by entering a share size that is not your entire position. You could enter multiples of those at different levels.
@@ThinkTradeProfit Thank you for your reply. I receive this error when I tried it: due to an existing, conflicting order, you do not have enough shares available to complete this order. After googling, it seems that I can't take partial profits if I have a stop in place for the entire amount. Is that accurate? - So I'd have to cancel the stop loss first? Thanks again.
How did you open a second stand alone layout? I know you can just right click float window to move it to another monitor. But can you open a second layout to another monitor and open windows within it?
No. I don't think that is possible. You have to float the screens to each monitor. There are many windows where you can open duplicates or more. Charts, Directed Trade, Watchlists, etc. You can only have one Positions window and one Closed Positions window. Likewise, there is only one Active Trader Pro "green" frame window (with all the menus) that you float the other windows from.
@@ThinkTradeProfit Ah I see. Thank you for the response. Been going thru all your vids trying to learn this platform. It's been a huge help. Much appreciated :D
A big flaw of Active Trader Pro that I faced is that their updates and settlements take a day or more to complete. I was expecting instant settlement like some other brokers. And when I switched from Cash to Margin they didn't update my positions over night and the next day I had no access to any of my previous positions!!!, I lost a lot of opportunities there and my plan for selling some positions the other day failed :((
Hi Rezwan, Thanks for visiting the channel. Sorry to hear about your difficulties. Fidelity is like most US brokers, trades settle in T+2, trade date +2 days. If you were trading in a Cash account, then those trades are subject to that. The trades are entered as Cash trades. Unfortunately, switching to Margin after the trades have been executed doesn't change that. Margin account is the way to go. That should solve most of your problems. Good Luck!
I have had a lot of screen time with the stocks I trade. Most of the time I do not have a fixed stop loss order in Active Trader Pro. I am always at my computer when in a position and most of my trades are less than 7 minutes long. I have been hurt a few times in the past year when there is breaking news, but I can always get out because I trade very liquid stocks. I have used Stop Losses extensively in Active Trader Pro in the past. They are good. They execute when price TRADES at your stop loss price (not when the Bid or Offer are at your price). I recommend everyone use a Stop Loss order. I'm planning a future video because a lot of TH-camrs say "don't place stop loss orders" because they are hunted. I disagree. Place Stop Loss orders, just do not place them in obvious places or round number levels.
@@ThinkTradeProfit This is interesting. I did some testing in Active Trader Pro and whenever I take a large position size unusually with a stop loss I usually get stopped out. When I don't use a stop loss the stock usually moves in the direction I thought it would and I don't get stopped out. I seriously wonder if traders are targeting my stop loss. I've literally watched the price fall to my to stop loss and reverse 5 times this week. Is it a way to hide your stop loss in Active Trader Pro?
@@jamesabaileyjr This is pretty complicated, but Fidelity isn't hunting your stops. My suggestions: 1. Don't put a stop in an obvious place (round numbers, right at previous high or low) 2. Put ATR on your chart, maybe 14 period if you are trading short term. Whatever that value of the average true range, have a stop larger than that. Otherwise, you're just getting stopped out with the regular ebb and flow. 3. Enter in less volatile times. Pre-10AM is price discovery, all stocks sweep around A LOT. Then wait for the big move. 4. You can also look in Times & Sales for the period around your stop out. You should be able to find your trade. With that you can see what the national Best Bid and Offer were in the market. I can assure you Fidelity doesn't influence all the other players in the market that make up that quote. Fidelity holds your stop loss until the stock trades at your stop price and then submits a market order (or limit, if you used Stop Limit) to get you out. I want to do an entire video on this some day. I have some knowledge about what goes on with large orders worked over an entire day. I hope this helps!
@@ThinkTradeProfit Thanks for the reply. So I tested again Today. I did 10 trades and won on all of them except one. You guessed it, the one time I used a stop loss I got stopped out. I watched all the buys and sells going on at that time and I had the third largest order at the time I got stopped out. I feel like someone sold a bunch of shares just to drop the price so they could gobble up my shares at a discount. I did 10 trades Today, 9 with a mental stop loss (which I hate because if I'm not paying attention or lose power I could suffer a major loss) and 1 with an actually stop loss that I lost. I did see I feature within "Directed Trade" window within Active Trader Pro that said it would hide your large orders from the Market (I believe the NASDAQ) if you enables it. Have you ever used that? Maybe that's the answer.
@@jamesabaileyjr I haven't used the hide orders function but you could try that (yes, it was Nasdaq). You won 9 out of 10 trades! It's very good. The Nasdaq market makers definitely manipulate price as they work large orders throughout the day, and people get stopped out. No doubt. Are you certain that when you were trading without a stop in Active Trader Pro that the range of the trading price didn't fluctuate larger at times than the stop loss you put on the single trade? That might skew your test results, if so. Good discussion though :)
I use a free, open source OBS Studio. There is a little learning curve, but a lot of TH-cam videos to help out with whatever you want to do. obsproject.com/
Your videos are great but this has to be BY FAR THE WORST SOFTWARE EVER!!! TOS BLOWS THIS AWAY. I almost threw my computer out the window several times today trying to set it up and all the things it is VERY BAD AT!!! But thank you for trying to help and make these videos. Even their own training videos are garbage.
Hi Wes, Agreed. Fidelity Active Trader Pro needs many improvements. I rely on the stability of the platform and speed of execution. Based on a few years experience, I am confident that Fidelity Active Trader can keep up in fast markets / stocks. Thinkorswim is great, when there aren't issues. I have a second accout there, but there have been too many problems in the past two years. Not being able to cancel orders, not being able to get reliable fills at the open, platform is down for days (Sept 2020?). Now with their ongoing merger with Schwab, the last thing they need is even more people on the platform when there are issues. I have 1000's of trades with Fidelity, and I have never not been able to cancel an order in a fast market. Finally, Fidelity doesn't sell their order flow, and the price improvements are very good on market orders. Cuts down the spread, and improves profits. Trade Armor is very good to use for quick trades. If you haven't seen my Daytrading setup video - th-cam.com/video/9p_PRqFhah0/w-d-xo.html and the stock shortcuts, those might ease your pain. Good Luck!
Hi Bobby Vincent, thanks for visiting the channel. Good question. The U.S. Securities and Exchange Commission sets the T+2 (trade date +2 days) rule for settling securities trades. Behind the scenes the brokers have to transfer and record ownership of the shares so dividends and voting rights are assigned correctly, ensure the funds for buying or selling are in the proper accounts, and I think they allow time for international participants' currency transactions to happen. (An investor in England can buy Facebook. If the stock is sold from a holder in the U.S., they would receive dollars instead of British pounds). Most of the big brokers, including Fidelity show Available Cash to Withdraw at any point in time. Unused cash can be withdrawn very quickly (next day) from Fidelity if you have your bank account setup with ACH.
Think Trade Profit cool! Was thinking if you have a chatroom, so i can join and tag along. I just learning trade and get in too early 😂 i used Fidelity and some of your tips pretty useful.
I think all of you guys that make these videos are all amped up on something you go so darn fast how is anybody supposed to keep up? You and And last guy are going Mach 5 and I just can't keep up with you. Thumbs down
Hi lonecody, Thanks for checking out the channel. On any TH-cam video, you can select the "gear" (Settings) icon in the lower right. imgur.com/ctWgVIz Then expand playback speed choices. Then select a slower playback speed. imgur.com/0SvQEza 0.25 (1/4 speed) should slow things down a bit. I hope that helps. Good Luck!
Hi Anthony, Active Trader Pro is definitely due for an overhaul. It is outdated, but the back-end executions are still the best among all the $0 commission brokers. The Price Improvements are better than anywhere else. Thanks for supporting the channel!
It amazes me how well you can move around and use ATP to its fullest extent. I wish i had someone near me that could walk me threw ATP. Thanks so much for the video. I get a lot out of them.
Thanks again for the support! I appreciate it. It's mostly practice and repetition over 2 years. Just pick an area that you haven't explored before, and give it 15 minutes a day.
Hey Ken. Great Video! I love that you get right down into it without a bunch of intro and chatting. very informative and well explained. I'll definitely be watching more!
Thanks Dan! I appreciate the positive feedback and the support.
Thanks for this video! Very helpful and I would argue that this is a great option for maintaining or following your rules on PL gain/Loss
Hi STL Jay,
Thanks for the positive feedback. Absolutely, using Trade Armor is good for "set it, and forget it" trades. Let it do it's thing, whether it hits your profit target or stop loss. Good Luck!
Your presentation was well thought out and clear. I learned a lot watching it. Thanks!
Hi Vincent,
I'm glad it was helpful. Thanks for the positive feedback. I try to answer all questions in the Comments of videos (given enought time). Feel free to reach out with if you have any. Good Luck!
Great video. Exactly what I was looking for on TH-cam. Been trying to dig more into conditional orders for stops and price targets for option scalps. Thank you for taking the time! Cheers
Hi Brian,
Thanks for the support. I am glad it was helpful. Good Luck!
thanks - I'm more of a short term swing trader so this will save some time.
Hi John,
Glad it was helpful. Trade Armor is definitely useful to do "set it, and forget it" trades. Good Luck!
I revisit your videos occasionally as not everyone uses ATP and this is one that I watched this morning. I didn't realize you could trade options on TA. I like it I think. I'm going to try it next week side by side with Trading View Charts and UW Flow and see how it goes. Thanks for your videos. I feel like ATP users are in the minority on options but for some reason I stay with Fidelity. I wish their charting was usable so I could save money on TV.
I do wish you cold maximize it and make a screen out of it and also wish you could change the OHLC to filled candles.
Thanks for the support. I have come to use TradingView side by side with Fidelity too. Good Luck!
Valuable info on stop and stop limits. Thanks.
Thanks for the support, Frank! Good Luck :)
For some reason I thought trade armor was some sort of insurance you paid a premium for. I love that I can move the stop and TP level visually. It beats trading within the option chain like I have been.
Hi QuickShotZz,
Apologies for the delayed reply, I have been on vacation. Yes! Trade Armor works well for options. Thanks for supporting the channel. Good Luck!
I only use it for stop losses. Thats a great job for day trading.
I agree. Trade Armor is good for longer trades where you want to set a profit target and stop loss and leave it alone. Thanks for supporting the channel. Good Luck!
Great video - incredibly useful for those of us who aren't in an ideal time zone 👍
Hi Matt T,
I'm glad it was helpful, and thank you for the support. You're right, it's a great tool to 'plan the trade, then set it and forget it'. If any questions come up, feel free to ask in the Comments of videos. With a little bit of time, I try to answer of all them. Good Luck!
Love your content, they've all been useful! Subscribed to your channel and I hope to see more!
Thanks Steven! I appreciate the support.
FYI, Trade Armor is available on fidelity.com also. This is good to know if you are away from your pc, as it is not available on their mobile app. I sometimes like to trade on my tablet.
Hi Rob, Thanks for visiting the channel and for the insight into Trade Armor availability online.
Thanks for sharing your knowledge.
Hi Siva,
I hope it was helpful. Good Luck!
To scalp are you using directed trade? I find it cumbersome to use for in / out. So many issues, setting router per stock in extended hours, it IS auto during normal day hours. I think hot keys are needed or a UI dedicated to day trading. If you could move the bracket in trade armor in real-time with the movement of the stock, that would be excellent. The fact you have to hit at least one other button (if you turn off preview and place buttons is just too slow IMO). Thought? Did I miss something?
Yes, I always use directed trade with the shortcut buttons and preview turned off. I wish there were hot keys. I rarely trade premarket. I leave it to AUTO during normal day hours. It as fast as it can be. I preload my orders for entry and exit and wait and watch the stock, only having to hit 'Place' to execute. It's not perfect, but the Price Improvements I get and the speed of execution (instant) is worth it. I'm getting an average of .04/share on PYPL in price improvements alone on my market orders. I trade a lot so it adds up.
This was so helpful, thanks!
Hi Markus,
I'm glad it was helpful. Thanks for supporting the channel. If any questions come up, I try to answer all of them in time. Feel free to put them in the Comments section of videos. Good Luck!
Good brief! I actually just discovered Trade Armour on my account last Friday.
Thanks for the feedback, Daddy B. I'm glad it helped.
Same here... I just discovered the potential of my Fidelity account. Too bad I am clueless and made my first stock trade ever in my life this morning for $100 of UONEK... Maybe a stupid move, but it will get me experience at least while I search a better stock out. After all, I have struggled for the past few years and lived my 401k/IRA down to nothing having NO CLUE about day trading. Now I don't have but a few hundred dollars and hoping to maybe slowly work my way up from small profits to big. Your videos are AWESOME... thank you!!
@@chadstanford Hi Chad, Welcome to the channel! Thanks for the positive feedback.
Excellent info, thanks - look forward to your other videos
Thanks James! I'm glad it was helpful.
Hey Ken, wow, Super Helpful with the Trade Armor walk through. Thanks for digging in deeper on this platform! I'm beginning to incorporate macros to change my share sizes for the hot buttons in order to manage risk/reward on a play, but kind of quicker.
Have you tried Macros yet? Pulover Macro creator. No, I'm not affiliated.... just trying to do better hot-keys aka hot buttons like the big guys ;-) I also have been learning a lot from SMB Capital's videos, really great content. Thanks for your vids!
Hi CigRacing,
Thanks for sharing Pulover Macro! I'm looking at it now. I tried my own version of coding hotkeys with AutoHotKey last year, but it felt slow and clunky (probably my code). I'll give this a shot. The SMB guys are great, no doubt. I continue to watch everything they put out. Good Luck!
Great video Ken, loved it watching again & tried conditional order. One qs, what's the best resource for mastering on Candlesticks & patterns?
Hi Sam,
Good question. I think this site is a decent start - candlestickchart.com/glossary/listing. I would go quickly through them all under the 'Indicator Glossary' in the Education section imgur.com/xhGdGef. Then, maybe focus on 5 per week and start scanning stocks for them (real world practice). When you get comfortable, I would start using TradingView - www.tradingview.com/scripts/candlestick/ There are so many free, shared scripts you can apply to charts for backtesting and real-time analysis, using a free TradingView account, but TradingView can be a little overwhelming at first if you are not used to the UI. I hope that helps. Good Luck!
@@ThinkTradeProfit Thank YoU Ken, appreciate your help. I'll follow as you suggested.
Very helpful video. Your videos are terrific! I also use Fidelity. I agree, there are lots to things to change when scalping - so it is truly slow for fast markets. Thanks much for your videos. I always learn some valuable information!
Hi Heschemp, Thank you for the feedback and support!
Great educational video....thanks!
Great video. I am trying to get used to this trading platform and have found your videos very helpful. Thanks!
Hi Chris,
Thanks for the positive feedback. I appreciate it. Good Luck!
Great information!
Hi Eric,
Thanks for the support. I'm glad it was helpful.
Good stuff! Am trying to learn the bracket orders now.
Hey Shawn!
It's good to learn everything. Look at the Conditional Orders too (outside of Trade Armor). Cool stuff you can do there, like setup orders to Buy/Sell one Stock when another Stock/Index is up or down X% or X$.
Great video thanks for posting.
Hi 722marine,
Thanks for the support! Feel free to reach out with any questions in the Comments section of videos. I try to answer all of them (in time). Good Luck!
Thanks for the settings and how this works---CAKE about 31 today nice
Hi Mark, I'm glad it was helpful. Thanks for your support!
Thank you so much!!
Hi Roger,
I'm glad it was helpful. Thanks for supporting the channel. Good Luck!
Your channel has been so helpful learning the functionality of ATP, I've put a lot of your suggestions into good practice....thank you for sharing all you do! Earlier this week ATP completely shut down within a minute or two of the open and when I brought the platform back up, all of my layouts were gone, including the Directed Trade short cuts. As a result, everything needed to be set back up - not ideal with the market moving and one of my planned entries being missed during that time. Have you ever experienced this with ATP?
Hi K H, Thanks for the positive feedback on the videos! I haven't experienced that issue exactly, but one thing I have learned is that all layouts and chart settings are saved in the cloud (at Fidelity). They also have multiple quote servers and constantly monitor them. For quote problems, they suggest reconnecting or log out and login. I wonder if there was just a connection issue to their servers temporarily for you, and that maybe you didn't need to recreate your entire layout.
@@ThinkTradeProfit I did get an application error and message informing me that my custom layouts and trade settings for ATP were unavailable. After logging out and back in there was nothing saved and unfortunately no prior layouts/settings have reappeared since. I'll have to contact Fidelity with the error # recorded to inquire re the occurrence. Aside from that, I do like ATP!
Nice clear presentations. Thanks.
Hi Mark,
Thanks! I appreciate the support. If you ever have questions, feel free to reach out in the Comments of videos. I try to reply as time permits. Good Luck!
Great tutorial! it is a perfect video to go step by step. Do you have a video on guidance for Shorting Trades?
Hey Kent
I just subscribed to your channel. You have really great tips to help navigate the APT platform! I have been looking for someone who is very knowledgeable of the platform and you are! Thank you for your time making these videos. I am trying to scalp on this platform and before I found you, I was ready to drop Fidelity. I was conflicted because I really liked the technicals/ knowledge base the platform provides. I just couldn’t seem to execute fast enough. At least 4 clicks to fill orders. Can you recommend a video of yours for a set up for day trading/ scalping? Also, how can I set timeframes so I can see penny increments on 1-5 minute daily time frames? It seems to default to 2-5-10 cent increments. Thanks again!
Scott
Hi Scott,
Thanks for the support! You should definitely check out the Fidelity | Day Trading Screen Layout video - th-cam.com/video/9p_PRqFhah0/w-d-xo.html You can only get penny increments if you zoom in enough and stretch the graph using those "arrow" thingies, like this - imgur.com/rnZFehX
Day trader new to your video's. Very impressed. Can you try and improve the sound? I have hearing aids but have to constantly stop video, back up and repeat your excellent video to get an important word or try and see your cursor. Thanks.
Hi Neil, thanks for supporting the channel! I will definitely make improvement in this area. Some of my older videos have audio issues. Thank you for the feedback.
Audio sounds fine on my end.
Thanks for the video as always
@@ThinkTradeProfit- Strange Ken, and it's not just your great video's but other narrators as well. Maybe repeating an important word and particularly repeat the new window name you just went to. When watching your video Ken I have the same window open on my dual screen. I can then stop you, take a snip & sketch, print it for my 3-ring Ken's videos notebook. It prints on top half of 8-1/2 x 11 paper with space below for notes, etc. Makes for great summary of the topic and with the video time showing on my copy its very easy to go back and view later if necessary. As I re-read this I may have helped you improve the sound easily. Just repeat important words , etc. I'm a new Fidelity platform user and a great time saver would be for Fidelity's 3rd party provider to provide all share quantity boxes with up/down arrows in 100 increments which can be done with the mouse and not requiring going from mouse to keyboard a cumbersome costly time consumer. They must be the only day trading platform not offering this feature. Keep up good work Ken and mention your name once in a while. After many hours I think you mentioned your name once and I could not decipher your last name after many repeats. Neil Butterfield
The contingent is cool. Can you set it to buy/sell an option if the underlying stock meets some price criteria? Like market sell my call when stock price hits 50.
Hi kyleucf,
Yes! I agree. It's a very cool option. You can setup so many different triggers to buy or sell different stocks or options, even completely unrelated things.
Thanks so much for posting this video, I learned a lot. However, as you mentioned there is a lot to fill out in the trade ticket window, so it makes fast scalping hard. I just want to be able to buy a stock quickly, while also setting a stop loss. What do you think is the best way to do that in Fidelity and would you recommend any other brokers for fast executions with stop losses?
Thanks for visiting the channel! Have you seen the Fast Trades - Entry and Execution video? th-cam.com/video/nq6oUospoiE/w-d-xo.html You can create shortcuts for fast entries and exits (with a stop loss and profit target). One click fills all the predetermined values, then you you can hit 'Place' to send.
@@ThinkTradeProfit Thanks for the reply and the link, that was another great video. You've really shown me the true power of Active Trader Pro. Keep up the great work and I can't wait to see what you post next. :)
Happy Holidays @ThinkTradeProfit, Does Fidelity had a a direct Access Route?
Hi Mayaman Marne
,
Using the Directed Trade window, you can choose a couple different direct access routes. More information about that is here - www.fidelity.com/products/atbt/help/ActiveTraderTools_Trade_Help.html#availableroutes I have used the AUTO route for the past year and have received very fast executions with price improvements on a high percentage of my market orders. The ARCA route is another which is very popular. You can choose the direct access route yourself by changing the field 'Route:' - imgur.com/fpNQHwn Good Luck!
Good video! Do you know if fidelity can do trailing orders on moving averages?
Hi lifelessplum,
Unfortunately, no. There isn't any feature to support that. I think the best you could do if you were on longer time frames would be to recalculate your stoploss daily. There are some interesting trigger values you can use for Conditional Orders - www.fidelity.com/learning-center/trading-investing/trading/conditional-order-types But, I know these are not exactly what you are looking for. Good Luck!
charts need a lot of modifcation. starting witht the zoom feature. can't zoom with scroll wheel on mouse...that's very annoying.
Was this replaced with active trader pro? If so, which do you prefer?
Do they have renko bricks, 15 second and 30 second time frame charts?
Hi Ken,
No, Trade Armor is another way to enter trades inside of Active Trader Pro. It is still there. It is best for "set & forget" type trades where you know for Profit Target and Stop Loss and want those entered. It is not good for quick scalp trading. Active Trader Pro does not have Renko brick charting, and the smallest intradday time frame is 1 minute for charts. Here is a list of the Chart Styles available - imgur.com/a/lgdCMsI
I hope that helps. Good Luck!
hey man, great video, I was looking to find a way to execute fast buys and sells while looking at at the stock moving live..do you have a set up that you can share in fidelity active trade pro ? Im new so my apologies to the lack of terminology and knowledge....:) thanks
Hi IT-TechExpert,
Thanks for the positive feedback. I demostrate my stock shortcut keys here - th-cam.com/video/nq6oUospoiE/w-d-xo.html .This is the fastest way to enter trades in voltile markets. I hope that helps. Good Luck!
@@ThinkTradeProfit ohhh you are the man....thanks a bunch!!!!! Love all tour videos man!!!!
great info and Thank you
Hi Simba, Thanks for visiting the channel !
Regarding stops, I thought stop was the one which stopped at the next market order and stop limit stopped you at the limit price? (the opposite of what you say in video?)
It's a little confusing but all Stop orders have a Stop price, that is when the Stop Order activates. So the simpler Stop order (has a price which you set, the Stop Price) becomes a market order when your stock trades at that price. The Stop Limit Order (also has a price which you set, the Stop price) becomes a Limit Order when activated at the Limit price you choose (which can be the same or different from your Stop price).
Thanks for the video you explain thing very well. I also trade fidelity. 2 things. Do you ever with the multitrade ticket. As you well know speed is the key. I also use buttons on directed trade. Preset are 10k buy, 10k sell. 5k buy and 5k sell. 2k same thing. This helps. I also keep 2 directed trade ticket open for both that im watching. Problems with FATP. Charts or open windows disappear when moving other tools. Any feedback would be great.
Hi Michael, thanks for your support! I have used the Multitrade ticket before, but I think it is only good for situations where you want to queue up orders for many positions to be exited at the same time (Limit or Market). I think Directed Trade is better in almost all other cases. Yes, the "snapping" of windows is a little imperfect if you tend to move windows around during trading. I agree that this needs improvement.
Nice to meet you. Liked
Subscribed
Hit Bell for All
Added Library Folder for You
Hi Kimba007,
I appreciate the support! Feel free to reach out with questions or any suggestions for new videos.
Ken, would you recommend using % stop loss for every scalp or daytrade? I buy many stocks in different price ranges . I also use different amount of position size based on time of day and price of the stock. Looking for a way to simplify my stop. also thinking about doing this as my day job. thoughts? BTW I usually use a mental stop. Feel like im vulnerable to quick market drops. Then take the hit or hold and hope lol?
Hi Michael,
Going full time is tough. I would recommend a lot of part-time trades with good record keeping (www.tradervue.com/). Be realy honest with yourself, and fix your mistakes. I use ATR(14) as a guide to adjusting my stops (wider or tighter) depending on time of day and volatility. I think mental stops are 'ok' but you have to be willing to pull the trigger. Every 2-3 months, there will be a move that happens so fast and so large that you cannot believe it won't bounce back...and then it will not bounce back and you will get stuck with a large loss. It would also be good to think of a complimenta5ry swing style to balance your scalp/day trades to even things out a little when the bad scalp / daytrading days come.
Thanks Ken. Great content! Another question. Once the bracket order is setup on trade armor; does it execute at the same speed as directed trade when you hit place (at least for the main order)? It looked laggy on your example. I always want to enter the market with a stop loss attached so was hoping to use this trade armor feature (but still need the fast execution). Thanks again for your help!
I had to watch it again. No, the main order is usually always fast. Same as directed trade. That delay is not normal.
@@ThinkTradeProfit Thanks for the confirmation Kent!
I was interested in using OTOCO in trade armor. Haven't tried it in an actual trade yet. The problem is always the distance. In an IRA, I cannot buy with a merket order, so I must switch it to a limit order, the default setting is always too close to place an order, so it's been too cumbersome to use.
Hi Time to Relax & Focus,
I saw your question, but maybe you deleted it? "Do you use directed trade more or trade armor more?" For me, I use Directed Trade more. If you were swing trading and didn't need to do a lot of quick scalping, Trader Armor is too bad, because of the ease in which you can move your profit target and stop loss. I hope that helps. Good Luck!
@@ThinkTradeProfit Hi, yah I deleted my comment because I realized later in the video, you mentioned you use Directed trade more. I do too. Directed trade takes too long to setup my OTOCO or OTO for me and that window too small. I agreed with your takes. Thanks much.
still trading bro..??
enjoy your videos..!!
Hi Steve,
I'm still active, but have been on vacation. I appreciate the support. Good Luck!
Can’t believe Fidelity has no mobile app for option trading…..
It seems that Trade Armor supports only a limited number of orders.
For example, it is not possible to trade options spreads.
Correct?
Hi Mark,
Unfortunately, you are correct. The easiest way is to right-click on something in the Option Chain window, then pick the strategy, which then opens the Multi Leg Option Trade window. Thanks for supporting the channel. Good Luck!
@@ThinkTradeProfit Thanks for the reply.
I also like the "Trade In Chain" where I can simply click on the Bid/Ask prices to input the legs of the strategy.
Unfortunately, does not allow to set an alert for multi-leg option strategies like Thinkorswim does.
Thinkorswim remains much superior in my opinion.
Is there minimum number of shares required to use OTOCO? Can I use for 10 or 20 shares? I heard market makers can cancel stop order. Is it true? Thanks
Hi Braveheart S,
Apologies for the delayed reply, I was on vacation. Yes, you can use OTOCO for less than 100 shares, 10, 20, or whatever you like. There is some small print about market makers and stop orders on the Fidelity website - "The specialists on the various exchanges and market makers have the right to refuse stop orders under certain market conditions. Not all securities or trading sessions (pre- and post-market) are eligible for stop orders." I have never had a problem with STOP orders getting cancelled. I hope that helps. Good Luck!
Hi can we use trade armor in trading options.
I'm used to forex mt4 you can set sl and tp and things are simple. Options seem to be a bit more difficult to do this in
Hi Mike,
Yes, definitely. You can drill into some of the options specific Trade Armor instructions here - bit.ly/3BD4lyX Good Luck!
@@ThinkTradeProfit thank you. Can't figure it out. So if I'm in an existing options contract, can I open it in trade armor, use the lines provided to draw my tp & sl?
Does Active Trader Pro provide bracket orders using level 2 ladder? Have watched two of your videos and they are right on target. Thanks.
Hi Jonathan,
Thanks for supporting the channel. I answered in your other Comment, but will include here in case others who watch this video wonder. Unfortunately, Fidelity does not have a Level 2 ladder than can be leveraged for order entry. While I believe their executions and speed are better than thinkorswim/TDAmeritrade (I have accounts at TD Ameritrade), they are have a ways to go in matching features for the active daytrader.
@@ThinkTradeProfit Question - after I put in an OTOCO order (eg. buy at 100 target 103 and stop loss at 99) and I want to get out of the trade at 101.50, how does the execution flow work. It seems to me that you have to first cancel the two OCO orders and then execute the sell order. Thanks.
@@jonathanlance2166 During regular market hours, I believe you can cancel the original Buy order and it will cancel the other two. You can set some default ranges in Settings > Trade for Ttrade Armor so that those are pre-populated. I think the most important thing is to get your new Buy order in quickly. imgur.com/zxfr5AM Once that is in place, as long as you have the ticker symbol in your Trader Armor window, you can adjust (Cancel & Replace) the other two open trades with the sliders, changing the vlaues from the Settings defaults. imgur.com/s3S7uPj One Cancel, then re-enter OTOCO with default Upper and Lower Limit from settings. Then adjust those. I hope that helps.
@@ThinkTradeProfit Thanks for the reply. Very helpful
Can conditional orders be applied to closing options? I would like to close a call option when the underlying stock reaches my target price. If so, please provide general instructions
Hi Angela,
Yes! Go to Trade & Orders > Conditional Trade > in the Conditional Trade window in the upper right change the 'Trade Type' dropdown to Contingent. Above the order fields help text displays "IF this condition is met... THEN place this order" to guide you. Here is my example with PTON - imgur.com/WY4Z4UI The first order window has the IF condition: PTON Last trade greater than or equal to 160. The second order window has the action THEN place this order: (PTON call) Sell to Close at Market.
@@ThinkTradeProfit thanks for the response. I would like for the TIF to be good until cancel. Is that a complicated/tricky transaction since I don't necessarily know what the option prices will be at the time of my desired price target of the underlying stock? My break even is $15.53. My premium was $1.53 and my desired target price for the stock is $20.
@@alexisperkins105 Not tricky at all to set Good Til Cancelled. Set in both sides (GTC). Then for the Option Sale set the Limit Price to the minimum you will accept after the stock gets to its price. You'll get filled at your Limit or better (if the market is trading much higher for your option.
@@ThinkTradeProfit very nice video ! Quick question , how did you add the PTON option strike in the symbol drop down ? Can I add multiple strikes from different tickers in the symbol drop down ?
@@ankitshah692 Hi Ankit,
Thanks for the support! I had to lookup the PTON option strike/symbol first. Quickest way is to open Option Chain and start an order. The default trade ticket will have the option strike/symbol. imgur.com/ZCH4gOn Then copy & paste where you need. Yes, you can have multiples in the symbol dropdown. By deafult, your most recent symbols you have viewed show in a list , but you can also pin the ones you are using the most to the top of the list. imgur.com/VKI9twk I hope that helps. Good Luck!
If Fidelity provide OTOCO for stock options?
thanks
Hi William,
Yes! You can read more here www.fidelity.com/webcontent/ap002390-mlo-content/19.09/help/learn_trading_conditional.shtml
Depend in which device I use, sometimes the volume of your voice is too low. Thank you for the video!
I had some audio complaints with my old setup, but I got a new mic at the end of June. Any videos published after July 1, 2020 should have good audio/volume.
How are Upper and Lower exit prices for OTOCO are being filled out automatically? Is that based on a certain percentage or support/resistance level?
Hi
Rajish,
There are some settings for this, go to Settings > Trade > Stock Defaults. You can set the Upper and Lower Exit prices by $ amount or % amount. imgur.com/iptCqtt
Do you know how to do OTOCO for sell shorts in trade armor or other trade screen? Thanks
Hi L P,
Unfortunately, they do not have it as an option in Trade Armor, but as you have probably seen, they do have the Buy to Cover (OCO) to close a short trade. I looked in Conditional Trades (go to Trade & Orders > Conditional Trade) imgur.com/c48wUt5 imgur.com/yW3p4Pi . It's not option there either. I haven't thought it through completely, but there must be a reason they haven't configured it for the "short" side. I think the best is to do it separately (in Trade Armor). Short sale first, then place the Buy to Cover Bracket (OCO).
@@ThinkTradeProfit Thank you! I moved to fidelity due to huge price improvement savings compared to any other platform I've tried.
GREAT VIDEO! Subscribing NOW!
Was searching for a way to make the VMA similar to the VWAP and stumbled upon your video!
@@charlesamberwilliams1257 Hi Charles & Amber, Thanks for the support! I use a free account at tradingview.com to chart VWAP on a chart in the browser on the side.
new to active trader pro. can i use buy triggers bracket to take partial profits?
Hi Apa and Momo,
Yes, but you would control that by entering a share size that is not your entire position. You could enter multiples of those at different levels.
@@ThinkTradeProfit Thank you for your reply. I receive this error when I tried it: due to an existing, conflicting order, you do not have enough shares available to complete this order. After googling, it seems that I can't take partial profits if I have a stop in place for the entire amount. Is that accurate? - So I'd have to cancel the stop loss first? Thanks again.
@@apaandmomo2712 Yes, that sounds right.
How did you open a second stand alone layout? I know you can just right click float window to move it to another monitor. But can you open a second layout to another monitor and open windows within it?
No. I don't think that is possible. You have to float the screens to each monitor. There are many windows where you can open duplicates or more. Charts, Directed Trade, Watchlists, etc. You can only have one Positions window and one Closed Positions window. Likewise, there is only one Active Trader Pro "green" frame window (with all the menus) that you float the other windows from.
@@ThinkTradeProfit Ah I see. Thank you for the response. Been going thru all your vids trying to learn this platform. It's been a huge help. Much appreciated :D
A big flaw of Active Trader Pro that I faced is that their updates and settlements take a day or more to complete. I was expecting instant settlement like some other brokers. And when I switched from Cash to Margin they didn't update my positions over night and the next day I had no access to any of my previous positions!!!, I lost a lot of opportunities there and my plan for selling some positions the other day failed :((
Hi Rezwan, Thanks for visiting the channel. Sorry to hear about your difficulties. Fidelity is like most US brokers, trades settle in T+2, trade date +2 days. If you were trading in a Cash account, then those trades are subject to that. The trades are entered as Cash trades. Unfortunately, switching to Margin after the trades have been executed doesn't change that. Margin account is the way to go. That should solve most of your problems. Good Luck!
Good video. Do you use stop loss order ?
I have had a lot of screen time with the stocks I trade. Most of the time I do not have a fixed stop loss order in Active Trader Pro. I am always at my computer when in a position and most of my trades are less than 7 minutes long. I have been hurt a few times in the past year when there is breaking news, but I can always get out because I trade very liquid stocks. I have used Stop Losses extensively in Active Trader Pro in the past. They are good. They execute when price TRADES at your stop loss price (not when the Bid or Offer are at your price). I recommend everyone use a Stop Loss order. I'm planning a future video because a lot of TH-camrs say "don't place stop loss orders" because they are hunted. I disagree. Place Stop Loss orders, just do not place them in obvious places or round number levels.
@@ThinkTradeProfit This is interesting. I did some testing in Active Trader Pro and whenever I take a large position size unusually with a stop loss I usually get stopped out. When I don't use a stop loss the stock usually moves in the direction I thought it would and I don't get stopped out. I seriously wonder if traders are targeting my stop loss. I've literally watched the price fall to my to stop loss and reverse 5 times this week. Is it a way to hide your stop loss in Active Trader Pro?
@@jamesabaileyjr This is pretty complicated, but Fidelity isn't hunting your stops. My suggestions: 1. Don't put a stop in an obvious place (round numbers, right at previous high or low) 2. Put ATR on your chart, maybe 14 period if you are trading short term. Whatever that value of the average true range, have a stop larger than that. Otherwise, you're just getting stopped out with the regular ebb and flow. 3. Enter in less volatile times. Pre-10AM is price discovery, all stocks sweep around A LOT. Then wait for the big move. 4. You can also look in Times & Sales for the period around your stop out. You should be able to find your trade. With that you can see what the national Best Bid and Offer were in the market. I can assure you Fidelity doesn't influence all the other players in the market that make up that quote. Fidelity holds your stop loss until the stock trades at your stop price and then submits a market order (or limit, if you used Stop Limit) to get you out. I want to do an entire video on this some day. I have some knowledge about what goes on with large orders worked over an entire day. I hope this helps!
@@ThinkTradeProfit Thanks for the reply. So I tested again Today. I did 10 trades and won on all of them except one. You guessed it, the one time I used a stop loss I got stopped out. I watched all the buys and sells going on at that time and I had the third largest order at the time I got stopped out. I feel like someone sold a bunch of shares just to drop the price so they could gobble up my shares at a discount. I did 10 trades Today, 9 with a mental stop loss (which I hate because if I'm not paying attention or lose power I could suffer a major loss) and 1 with an actually stop loss that I lost. I did see I feature within "Directed Trade" window within Active Trader Pro that said it would hide your large orders from the Market (I believe the NASDAQ) if you enables it. Have you ever used that? Maybe that's the answer.
@@jamesabaileyjr I haven't used the hide orders function but you could try that (yes, it was Nasdaq). You won 9 out of 10 trades! It's very good. The Nasdaq market makers definitely manipulate price as they work large orders throughout the day, and people get stopped out. No doubt. Are you certain that when you were trading without a stop in Active Trader Pro that the range of the trading price didn't fluctuate larger at times than the stop loss you put on the single trade? That might skew your test results, if so. Good discussion though :)
What software do you use for your recordings? i.e. to get your screen with PIP of you?
I use a free, open source OBS Studio. There is a little learning curve, but a lot of TH-cam videos to help out with whatever you want to do. obsproject.com/
Your videos are great but this has to be BY FAR THE WORST SOFTWARE EVER!!! TOS BLOWS THIS AWAY. I almost threw my computer out the window several times today trying to set it up and all the things it is VERY BAD AT!!! But thank you for trying to help and make these videos. Even their own training videos are garbage.
Hi Wes,
Agreed. Fidelity Active Trader Pro needs many improvements. I rely on the stability of the platform and speed of execution. Based on a few years experience, I am confident that Fidelity Active Trader can keep up in fast markets / stocks. Thinkorswim is great, when there aren't issues. I have a second accout there, but there have been too many problems in the past two years. Not being able to cancel orders, not being able to get reliable fills at the open, platform is down for days (Sept 2020?). Now with their ongoing merger with Schwab, the last thing they need is even more people on the platform when there are issues. I have 1000's of trades with Fidelity, and I have never not been able to cancel an order in a fast market. Finally, Fidelity doesn't sell their order flow, and the price improvements are very good on market orders. Cuts down the spread, and improves profits. Trade Armor is very good to use for quick trades. If you haven't seen my Daytrading setup video - th-cam.com/video/9p_PRqFhah0/w-d-xo.html and the stock shortcuts, those might ease your pain. Good Luck!
How do you close positions?
Hi Matthew. You can change any order in Trade Armor to a market order. That would exit your position instantly.
Why do brokerages tie up people's money for days on end with unsettled funds when for 99.9% of transactions there's no issues ?
Hi Bobby Vincent, thanks for visiting the channel. Good question. The U.S. Securities and Exchange Commission sets the T+2 (trade date +2 days) rule for settling securities trades. Behind the scenes the brokers have to transfer and record ownership of the shares so dividends and voting rights are assigned correctly, ensure the funds for buying or selling are in the proper accounts, and I think they allow time for international participants' currency transactions to happen. (An investor in England can buy Facebook. If the stock is sold from a holder in the U.S., they would receive dollars instead of British pounds). Most of the big brokers, including Fidelity show Available Cash to Withdraw at any point in time. Unused cash can be withdrawn very quickly (next day) from Fidelity if you have your bank account setup with ACH.
Are you trading from a cash account? I'm limited in my IRA.
No, I use a margin account.
@@ThinkTradeProfit ok,
Do you have discord group chat? Can you send me join link?
Hi TienVu TV, Thanks for visiting the channel. We don't have a Discord for this channel, but I will let you know if / when we create one.
Think Trade Profit cool! Was thinking if you have a chatroom, so i can join and tag along. I just learning trade and get in too early 😂 i used Fidelity and some of your tips pretty useful.
I think all of you guys that make these videos are all amped up on something you go so darn fast how is anybody supposed to keep up? You and And last guy are going Mach 5 and I just can't keep up with you. Thumbs down
Hi lonecody,
Thanks for checking out the channel. On any TH-cam video, you can select the "gear" (Settings) icon in the lower right. imgur.com/ctWgVIz Then expand playback speed choices. Then select a slower playback speed. imgur.com/0SvQEza 0.25 (1/4 speed) should slow things down a bit. I hope that helps. Good Luck!
Yo, fidelity active trader pro is booty. They need to get on tradingview.
Hi Anthony,
Active Trader Pro is definitely due for an overhaul. It is outdated, but the back-end executions are still the best among all the $0 commission brokers. The Price Improvements are better than anywhere else. Thanks for supporting the channel!
Thank you. Fidelity's platform is not really user friendly!
Hi Geekmeister,
I'm glad it was helpful. Thanks for supporting the channel. Good Luck!