Fidelity | Active Trader Pro - Day Trading 2021 Setup
ฝัง
- เผยแพร่เมื่อ 22 ส.ค. 2024
- In this video, I share my Active Trader Pro day trading layout in 2021 with suggestions that can improve your performance.
#CommissionsEarned
Links are affiliate links that help the channel at no cost to you.
Must Have Trading Books
Market Wizards amzn.to/3MrO895
The Playbook amzn.to/3K5XaFS
Trading to Win amzn.to/3m0d0cZ
The Way of the Turtle amzn.to/3TYYi2B
Trading for a Living amzn.to/3K35C8O
My Trading Desktop Setup
Lenovo IdeaCentre T540 amzn.to/3zpZJh1
Video Card GTX 1660 amzn.to/40xi87n
Monitors amzn.to/3JXqe2a
Desk amzn.to/3m0oRb6
Gear I use for filming videos
Mic amzn.to/3ny0u4N
Webcam amzn.to/3MhNSsO
Topics include:
1. Optimizing Orders, Positions, and Closed Positions windows for readability.
2. A look at the Directed Trade window with Level 2 / Times & Sales and shortcuts.
3. Placing critical windows logically near each other to improve response times.
4. Maximizing your screen "real estate".
RESOURCES & LINKS
HONEST REVIEW FIDELITY | TRADING AND INVESTING
• Honest Review Fidelity...
FIDELITY | FAST TRADES - ENTRY AND EXECUTION
• Fidelity | Fast Trades...
FIDELITY | STOCK TRADE TRADE PRICE IMPROVEMENTS - HOW MUCH $$$ CAN YOU MAKE?
• Fidelity | Stock Trade...
FIDELITY | TRADE ARMOR - TUTORIAL & REVIEW
• Fidelity | Trade Armor...
Finally it's been too long I'm so happy your back!
Same... I jumped all over this
I truly appreciate the explanation and demonstration of the Directed Trade windows. My frustrations with ATP have primarily been execution speed in a volatile option environment and Directed Trades mostly eliminate that issue. Thank you for the contribution to the collective knowledge base.
Hi Tom,
I appreciate the support! I'm glad the video helped. Hoping and wishing for ATP updates or a rewrite. I have heard some rumors but nothing solid yet. I'll share anything that comes my way. Good Luck!
So glad to see new content from you! This is a great update to your Fid setup video, thanks!
Hi Tradingly Grateful,
Thanks for the positive feedback! I have some new ideas for videos. Feel free to reach out if there is a topic you would like to see in the future.
Great to see you again, Kent. Gave up trading stocks, and sell cash secured puts only.
Hi Rob! I think that's a good move. I hope it continues to bring you $$$.
He's back!
Hi Jin!
Great surprise seeing the notification of you posting a new video! Love your content. Thanks!
Hi Mitch,
It's been a while. Thanks for the support!
welcome back... we miss you
Thanks Rudy! I appreciate the support.
I'm so glad I found you. Watching your videos has helped me configure my app. Can you do a video on selling shares for beginners using this app? I noticed there are many ways to sell, I've been told to never sell market, always use limit. But I'm also interested in other ways as well.
I'm glad you are back!
Great to see you Kent! 😎
Hi Daniel! I hope all is going well for you.
@@ThinkTradeProfit Everything is well. Thank you. :)
So glad you did this I just don't have the room for all on the page. but I'll figure it out as I don't know what I'm going to try first. Probably spy as I don't have the cash yet
I appreciate the video. I now know how to scalp trades on ATP. The only thing I'd like is a graphical stop and the ability to drag it up as the stock rises. I can do that on TOS but it is a bit slower than ATP. thanks!
Hi John,
I agree. We could use some improvements in ATP. I have a second account at TD thinkorswim, but I still use Fidelity for most of my scalping because I have faith in their executions. I'm glad the video was helpful. Good Luck!
Happy to see you back
Thanks Joseph!
welcome back!
Thanks Sander!
I hope you are doing well. We miss your Fidelity tutorials
Hi BullishCandle,
Thanks for checking in. Hoping for some new features or something to get excited about. The free capitalise.ai/ product is a "nice to have" but it requires some ramp up. Good Luck!
Thanks for the tips on ATP and day trading - very helpful!
Hi Troy, I appreciate the support. I'm glad it was helpful. Good Luck!
hey your back, awesome presentation thank you so much
Thanks Damon! I appreciate the support.
nice setup and thanks so much for sharing your buying entry indicator, the W%R. Looks much better than the RSI indicator that I was using.
Hi Alex,
I'm glad it was helpful. I like W%R, it seems to suit my style. Thanks for the support. Good Luck!
Thanks for all the ATP tips!
Good to see you back! One quick question. Does Active Pro have something to follow multiple charts (e.g. 8/10) together, similar to TOS grid? Seems no?
Hi Haitao,
No, not as easy as using grid. You could setup a layout with multiple charts (same saved chart settings) that watch the same time frame with the same indicators and settings. Also, don't forget you can have multiple tabs in the same chart window to switch views. I hope that helps. Good Luck!
Happy to see your new video. I always learn something new from you. Thank you
Fidelity doesn't have OCO trades for spreads, they only have it on single-leg options. Do you think that will change any time so?
Hi David,
Thanks for the support! I don't trade spreads much, but are you certain you cannot put in Conditional trades for spreads? It's a little cumbersome. You'd have to use Trade & Orders > Conditional Trades from the main navigation, using a symbol for popular spreads here researchtools.fidelity.com/ftgw/mloptions/goto/optionPairingResult I think it can be done, it's just a little more mork. You can't do it from the Directed Trade Window, but it may be possible from Trade Armor window also. This is a MSFT Butterfly spread - imgur.com/qmGYAEE I hope this helps. Good Luck!
Thanks for helping us out again!!
Kent, how frequently do you get an error that says “Due to the volatility of the stock, your buying power is limited to the total value of your account” Do other brokers like tradestation do this? Love this platform but Kinda frustrating that they dont tell you this until you try to place an order when every second matters for day trading. Love the work!
Hi Nicki,
I've never received that message. I'm curious what stock you were trading that triggerred this. It must have been crazy volatility/news. I think this could happen with any broker given sufficient volatility. I had to do some research but I ended up here - www.fidelity.com/trading/faqs-trading-restrictions with "The intraday buying power balance is typically used for fully marginable securities in ordinary market conditions. Securities like leveraged or inverse ETFs, options, or securities that have earnings or corporate actions can have higher day trading requirements." There is one thing you can do in your premarket prep work (unless this happened after news broke). You could check the 'Margin Calculator' link at the bottom of the Balances tab for your account in the Fidelity web app. In the 'Hypothetical Transaction Tool' section, select Enter Transaction. You could 'test' trades in stocks before the market opens to see if there are higher margin requirements. When I put in a large trade of AMD there, for example, I can see that there is higher slighlty higher margin requirements. I hope that helps. Good Luck!
I’ve been while we miss you bro
Love the video, For your Pre Market chart, how did you get those additional charting options? I click on Charts and only see New Chart. That PreMarket is what i'm hoping to add to my setup
Hi B.Tetreault,
Those are charts that I have created, named myself, and saved. That is why they show in the dropdown. I have a video on building a chart library. It's worth a look. I give suggestions on using different tabs for different timeframes, and saving your "drawings" on charts like long-term trendlines, support & resistance. Weeks or months later, those might be useful again. How to Build a Better Chart Library - th-cam.com/video/76jdgFOsJFk/w-d-xo.html For a Premarket chart, select 'New Chart', then in the resulting window, click Settings, then maybe select 'Show Volume Chart' and 'Show Extended Hours'. Then Save! (and name) imgur.com/LCqUM8I Feel free to play around and create many different styles to see what you like the best. I hope that helps. Thanks for supporting the channel. Good Luck!
@@ThinkTradeProfit This is great, thank you!
Floating your windows is interesting. What I do is streatch the layout over 2 monitors then align the windows within it. Not sure if there is any difference.
Hi Gauntlet,
Probably not much difference if you are able to squeeze everything inside that "main" frame and you have the opportunity to use those collapsible side panels to hide away things when not needed.
Welcome back!
Hi Zachary,
Thanks! Feel free to reach out with future video ideas.
Welcome back Kent. Thanks for another great presentation. How exactly do you use ATR to set your stop loss? If your scalping do you just manually execute the stop if the price turns against you or do you place an order as soon as your buy order executes? By the way, ATP on a Mac M1 has some really bad issues. Crashing, pausing and the first time I open the positions ATP freezes for 3 to 4 minutes.
Hi WDCL Studio,
For my scalps, I sit with my "finger on the button". I don't put in an actual order, because most of my trades are short term. I've been burned before (if I freeze up and don't execute according to plan, but it's pretty rare these days). For me on the 1 minute chart, I figure the ATR(14) is the MOST I should lose on any one trade. It's a larger value in the first 30-45 minutes of trading. I adjust my position size for that to try to keep my trades all at the same $ dollar gain or loss. Generally, I trade a little smaller from 9:30-10:15am EST, then my trade size stays more constant. Unfortunately, I've heard from many Mac users that ATP is unusable for them. I wish it weren't that way. Might be worth buying a refurbished mid-tier Dell Windows laptop just for trading. That is how I started. i hope that helps. Good Luck!
Any books you recommend for anyone trying to learn the basics Level 1-2 options? Glad to see you posting again.
Hi Douglas,
If you are learning the basics, I would recommend 'Options Trading Strategies', by Scott Danes. It's short and should be easily found online. After that, 'The Bible of Options Strategies' by Guy Cohen. I like this one because he breaks them down into your goals, like income strategies, volatility strategies, etc. I hope those help. Good Luck!
@@ThinkTradeProfit Thanks!!
Thanks a lot!
Hi pejman95,
Thanks for supporting the channel. I'm glad it was helpful. Feel free to reach out with any questions in the 'Comments' sections of videos. I try to answer all of them in time. Good Luck in 2024!
@@ThinkTradeProfit I don't know how I can thank you. I've learned so much from your videos in just a few sessions compared to months of watching others' videos. Your explanations are right to the point and very useful, making the learning process incredibly effective. Thank you!
Thanks for your video
You The Man!!!👍👌🔥🐐💯🦄
Thanks for the support Jim!
Great video Kent, will a video in trading psychology be available any time, missed a lot of trades because of it, want to know how you manage.
Hi Daniel,
That's a good idea. Let me work on that. There is always room for improvement.
Rewatched 1-1-2023
Hi Chris,
Happy New Year and thanks for the support. Good Luck!
Trying to figure out a good entry point when the stock is extremely volatile and the price is just climbing faster than you can place the order is extremely difficult. Especially when FOMO kicks in. When this happens, do you avoid the trade, wait for a pull back or what?
Hi Joseph,
FOMO should not be a factor in trade decisions :) , but otherwise I usually wait for a pull back or skip the trade. I use ATR(14) to gauge the volatility of a stock, then either reduce my position size (or reduce my stop loss range). You need something to set a stop against, a major price level, pre-market support & resistance, or something else.After that, it is just position sizing, reduce it when the stock is extremely volatile. The first 15 minutes of the market open is liike that. If you are trying to capture momentum plays during that time, you have to be quick and get out if the trade doesn't go your way almost immediately. You can Buy breakouts in volatile stocks easily if you use Buy Stop orders after price trades above a major level. Then keep those on a small, tight stop loss. You'll have more losers, but if you can hold the ones where you don't get stopped out, you'll have large winners that wipeout the many small losses. I hope that helps. Good Luck!
Great video, thanks for making this. One qs: is there a way to connect WL to charts? in that way you don't need to manually type symbols in directed trade, charts or trade armor to go from one stock to another.
Hi Sam,
No, unfortunately not. Try this soltuion. You can build a large list (matching your watchlist(s)) with the Symbol dropdown in various Trade Windows or a Chart Window. Just select the "pin" icon to pin them to the top. imgur.com/aHa2K9O imgur.com/KAvE4yw Then you can use this in your other windows. It will be shared in charts, Directed Trade for Level 2, and Trade Armor. Then you can link the appropriate windows together. I think that is the best you can do. I hope that helps. Good Luck!
Thank you, appreciate your help.
I guess I am a little slow. I keep loosing where your mouse when you move it. Please hit the Ctrl key to show where the mouse went.
Hi Gerald.
Thanks for the suggestion. I'll try to make that correction in future videos. Feel free to reach out with any questions in the 'Comments' section of the videos. I try to answer all of them in time. Good Luck!
How did you set up the float out of window? Thanks!
Hi D Schreck,
You have to right click in the top border of each window and place them yourself. imgur.com/AbH7LgH Once you've arranged to your liking, don't forget to save your layout. Good Luck!
I use ATP, one thing that happens to me that drives me absolutely crazy is when I am moving a single chart and happen to move it over another chart, often ALL the other charts and ATP windows will all snap together and stack up directly under the one chart I am moving so I have to move all the windows back to their old positions. Happens a dozen times a day to me. Any idea how to stop this?
Hi kwd,
I don't know of any settings that will change the default "snap" behaviors. The best suggestion I can think of is to reload your saved layout (main nav > layouts > then select the one where you were moving charts) when they all snap together and stack up. That will save the time of moving them all back in place manually. I hope that helps. Good Luck!
I haven't tried to move the windows outside the bar. I did make dual monitor layouts. There is a cap to layouts I hit around 20 I think? I was experimenting with different purpose layouts.
Yes sir thank you for the ATP videos. Are you able to place same day expiry trades on Fidelity? I am not able to. I don’t know if it was my approved level or if Fidelity is like that for everyone?
Hi Chris,
I remember when I heard of this change. I didn't find it on Fidelity's website, but this should answer it for you - www.reddit.com/r/Fidelity/comments/i9sygv/fidelity_stopped_letting_you_trade_same_day/ I hope that helps.
BUMMER exporting those templates has any one spoken to Fidelity about that??
Are you part of any trading groups? It would be nice to have a discord channel to bounce ideas off of other traders
Hi Tony,
I'm not part of any groups, unfortunately. A Discord channel is a good idea. I think it would be a good place to exchange ideas.
Awesome video! I have a question. How did you manage to get around the preview button in the directed trade menu? When I use ATP on my desktop and set up a directed trade window, to place any order, I have to preview, then place. It has lost me far too much money, and has made me think about switching brokers.
Hi Waffle,
Try main navigation, Select 'Settings', then 'Trade' then examine the 'General' tab and click 'Skip Preview' imgur.com/b8Wp6Tl Good Luck!
@@ThinkTradeProfit I appreciate you.
Hi Kent, Couple of questions about Active Trade Pro 1) Is there a way to link watchlist to the trade ticket and charts. So that if I click on a symbol on the watchlist - it populates in the trade ticket and charts and 2) In the floating windows - I had a watchlist - when I click on the bid - the order does not populate in my floating trade ticket window - it opens up a new trade ticket in the main Green window - is there a way to fix this ? Thanks
Hi Rawtrades,
I think using a Watchlist as the source is going to frustrate you. You can build a large list (matching your watchlist(s)) with the Symbol dropdown in various Trade Windows or a Chart Window. Just select the "pin" icon to pin them to the top. imgur.com/aHa2K9O imgur.com/KAvE4yw Then you can use this in your existing floating trade ticket window (it will be shared there). You can also "link" that to other items (chart, Directed Trade for Level 2). I think that is the best you can do. I hope that helps. Good Luck!
You have obviously spent a lot of time setting up your window - is there a way to loads someone elses setup??
I wish there was. The Active Trader Pro layout "saves" are in Fidelity's cloud. They are not shareable or accessible to users. I learned this a while back as all my layouts got corrupted somehow and one of their engineers had to delete all of them to get my Active Trader Pro working again. Thanks for supporting the channel. Good Luck!
Thank You very much !!! really appreciate the info...Have a question about the directed trade window.. To the right of your 6 custom buttons is a button PLACE for placing trade.. I have a preview button and would like to replace the preview button with place??
Thanks again..
Hi Mark,
Go into Settings > Trade and select 'Skip Preview' in the General tab. imgur.com/Fy9CgBn Thanks for the support. Good Luck!
@@ThinkTradeProfit
Thanks so much Kent !!!!!!!
But beware- you are guaranteed to accidentally place orders, especially if you have pets or ADD or lacking sleep, too many orders, etc. Ask any trader.
Another great video! I was wandering if there's a way to search for stocks base on price?
Yes! I use the screener at finviz.com. It's a little overwhelming at first, because there are so many choices. finviz.com/screener.ashx Get familiar with the "tabs" in the center page for the different screening categories. imgur.com/vSPotVP You can also go to Active Trader Pro main nav 'Quotes & Watchlists' and select 'Filters', in that window sort by 'Last' imgur.com/5fgljPo I hope that helps.
@@ThinkTradeProfit wow! you're a blessing brother thank you so much for you guidance. 👍
Do you have any tips on making it work with an Mac?
Hi Chris,
I have heard the Macintosh ATP experience is not very good. I'm sorry. Some have reverted to buying a mid-range Windows laptop just for Active Trader Pro. Other says that they close the charts windows and use WeBull or Tradingview.com for charting and use Fidelity for order entry and that works much better. The following seems like the best option - medium.com/macoclock/how-to-install-a-windows-10-virtual-machine-on-an-m1-mac-for-free-9b18a3c628d0 Install a Windows virtual machine on your Macintosh, then run ATP from there. I hope that helps.
DayTrading and/or scalping with ATP just feels so unnatural since it was NOT designed for that. What you really want are the likes of LightSpeed, Sterling or DAS. Those come with a price, but there's a reason for that.
@@kimbuck-2 for me, pretty high. you'll have to decide for yourself on their respective sites. but ATP isn't considered fast at all. and with all the ease of use weaknesses they have, ATP isn't really geared towards active investing, let alone day trading shortcuts. but none of that matters as much as this...from the time you place a trade till you see if confirmed on your screen, it could take up to 4-5 seconds round trip doing it with free commission brokers. on the other platforms, it's almost instant. obviously, if you trade with size, then that is all that matters.
@@kimbuck-2 with that said, Fidelity is second to none when it comes to "Investor" tools and features and services.
@@kimbuck-2 i use Fidelity for my long term investments. I also scalp, but no way i would ever do that with ATP.
Can you float windows on MACs ? I can't launch my windows after selecting them as floated ?
Hi David,
I have heard the Mac implementation of Active Trader Pro is rough.Unfortunately, I don't have much experience with it on a Mac. There are some good suggestions here though (along with the issues) - www.reddit.com/r/Fidelity/comments/l3k97f/psa_if_you_use_active_trader_pro_especially_on_a/ More than a few people mention trying it with Parallels www.parallels.com/ I hope that helps. Good Luck!
Can you write formulas in Fidelity Pro? Like formula for average daily range to produce numeric value?
Hi Olga,
Unfortunately, no. You cannot write formulas in Active Trader Pro.
It's been 2 years since your last video. Anything new happening on ATP?
Hi Jules,
Thanks for checking in. They added the VWAP indicator after a long delay and many requests. I can't say that they've added anything amazingly new for the short-term trader. Good Luck!
I appreciate your videos and have had trouble with my active Tp getting my level 2 pulled up with the hotkeys in your other video. I’d pay you if I could get a minute of your time to help get me set up right and of course what fits best for me. Let me know thanks for your videos
Hey, do you trade cs spreads on SPX or RUT?? How about 0DTE iron butterfly ???
Hi Amy!
No, I don't trade credit spreads. High probability money-making available on 0DTE's or Iron Butterfly on RUT though.
Does your set up also show LIT Exchanges?
Hi Timothy,
Yes, I consider BATS, ARCA, EDGE, and the Nasdaq all lit exchanges. Fidelity changed their Market Maker Ids last year so the video (Level 2) might be confusing if you are not a Fidelity customer already. XMNS is the Market Id for the Nasdaq exchange, ARCX is ARCA, EDGX is EDGE, BATS is unchanged, etc. I hope that helps. Good Luck!
I haven't been able to use trade armor with stops for high momentum plays because the range goes above the bracket. Any tips?
I know Fidelity increased the Limit order distance allowed for some of the crazy ones, like GME. Not sure how far away from the current price the market makers will hold STOP orders. You might try a Conditional Order "manually" (not in Trade Armor). www.fidelity.com/learning-center/trading-investing/trading/conditional-order-types Something like a OTO (One Triggers Another) If TSLA Stock price
@@ThinkTradeProfit Thanks, that page helps, I wish Fidelity would add paper trading like TOS so I could practice these types of orders.
@@ThinkTradeProfit I just checked trade armor and looks like the range is improved. OTO must have previously bought and has 2 sells stops vs OTOCO I can buy with 2 sell stops in place. Looks like the typical difference between buy to upper stop and buy to lower stop is about 2%.
@@ThinkTradeProfit Sorry for spam, I see it now. I created a test OTOCO order in trade armor. They set the default 'chart' to 3 month now by default. I see how it works now, I will be able to use OTO and OTOCO to make some trades with some saftey catches now. Thanks! This is huge for me.
How many orders are you allowed to place each day on fidelity if my account is above 25k? Would Fidelity allow me to place 100 trades a day?
Hi Zlisc,
You can day trade as much as you want with your day trading buying power, but you'll need to close most of the trades because your overnight buying power is the not the same. Likewise, you'll be constrained by your day trading buying power when you have open positions (daytrades not closed). But, yes, you can trade as much as you want as long as your balance stays above $25,000. If it dips below that you will get day trade calls, and you will not be able to hold losing positions if they take your balance below $25,000. Good Luck!
Well I wish I knew what I did wrong as even with it linked and showing my account # it never showed my trade in the all account window :( Had to go back to the ticket and fill it out and buy then I wasn't were I wanted to be. It is fast once its filled out for sure
I found it you have to enable it in settings
Does it have trading brackets?
Hi Ernst,
Yes. Placing a one-cancels-the-other order, or what is also commonly referred to as a bracket order, allows you to have both a limit order and a stop order open at the same time. This allows you to lock in your potential profits and limit your losses all with one order. There's even a way to use conditional orders to set your bracket before you enter the trade. This is known as a one-triggers-a-one-cancels-the-other order. These may sound complicated, but Fidelity has a tool called Trade Armor® that makes both of these conditional orders easy. imgur.com/nWGTIGo
Hey Kent do you use Stream Deck and how to use with fidelity active pro thanks 🙏
Hi Wes,
I don't use Stream Deck, just OBS by itself followed with a lot of poor editing and pauses when recording. I'm not a video / streaming whiz, but I'd like to learn more as time permits.
So williams over rsi?
It seems to work for me on short time frames. I did some research and was looking at many different indicators vs my previous scalp trades to see if there was one that matched the timing of my trades. There seemed to be a strong correlation, so I put in on my charts. Mostly, it's a wake up and pay attention kind of thing when I see W%R at the 2nd or 3rd time at extremes (up or down). A trade could be coming or where can I put on a trade with very little risk.
@@ThinkTradeProfit indeed it is super fast on the one minute.
very basic q, how do order, ,buy a stock if it is down by 2%.
Hi Happy Owl,
There is a way to enter "conditional orders". Go to Trade & Orders > Conditional Trade. Get familiar with the options available there. It's handy because you can setup different conditions to buy stocks, options, or indices, unrelated to the the thing you want to buy. This would be a possible setup for if a stock is down X% on the day. imgur.com/z0k0FZM I hope that helps. Good Luck!
@@ThinkTradeProfit Thank you for quick response, It has too many if and then conditions. What will be input if I just want to buy 10 AAPL stocks any day when it is down 5%. Very simple query, GTC query.
@@happyowl404
it's not simple. Stock orders are not usually entered that way. If you want to buy it when it when it drops 5% from its current price, you could enter a series of GTC Buy Limit Orders and leave them waiting. Buy 10 AAPL 100 GTC, Buy 10 AAPL 95 GTC... You are not specifying if you want to buy AAPL when it is down 5% from the previous closing price or if you want to buy AAPL when it is down 5% from opening market price of that day. Your broker will not know either. You will most likely have to "do the math" each and every day, because the stock can close at 145, the gap down and start trading at 120 on bad news or earnings. That gap is more than 5%.
@@ThinkTradeProfit got it, I meant last days closing price. appreciate detailed info and probably that is why there is no easy way to do so. Not a day trader & check like once in a month . SO I just wanted to pick up blue chips on the days they r down significantly
Hi happy owl. I Wish that existed !, ...have you considered using the "Set Price Alert" method, to alert you when it crosses the 20 MA ?
U ok?
Hi Michael,
I'm good, thanks! A little "burned out" on video editing. I have some ideas I am excited about. Hope to share soon. Good Luck!
it just doesnt measure up to TOS- fidelity platform is pretty bad