Hi Steve, Thanks for support. I think you've found the two best videos. If you are new to the markets, I suggest the 'How to place Stop Orders - Each Stop Order Explained' video - th-cam.com/video/6Wp4cWqFIpw/w-d-xo.html It is good to be aware of all the the "tools in your toolbox". Good Luck!
Ken, found a faster way to trade on Fidelity. Open multitrade ticket. Pre fill your trade info up to 50 trades. For example i filled out buy and sell for 4 of my ETFs that i trade with everything filled out. Bid and Ask automatically fills. Check box hit place. You can right click that field and duplicate the trade. Helps when you buy and sell frequently. Even shows p/l for trade while in it.
Hi Michael, Good idea. I haven't looked at multi-trade in a long time. I tried it out long ago. This is a great reminder. Will give it another look. Thanks!
I do have a question. Just after market open do use market orders or still use limit? I've been having a hard time getting filled with limit in the first 10 min. Any ideas what I can do?
@@Mastiffman1 It's really hard at the open, especially in stocks that have a lot of algorithms. I trust Fidelity's executions enough to use market orders when playing momentum at the open, but I usually trade a little smaller. If it a trade doesn't go my way almost immediately, I'm looking to get out with a market order as well. You can setup your shortcut keys to Bid + 0.01 or Offer -.01 than the best bid/offer. If you don't get filled quickly, then cancel. I hope that helps.
Hi Emil, It's pretty interesting, and the $ can add up. If you are interested, I did a little more research about it here. th-cam.com/video/YfM_OW7TSkI/w-d-xo.html Good Luck!
Hi Justin, Fidelity's executions and price improvements are among the best. Their platform is becoming a bit dated. Definitely in need of new features, but it is very reliable and fast during all market conditions. I hope that helps. Good Luck!
@@dmortiz1972 They are a giant financial services company, not just a broker who completes stock transactions. They have fees on their financial products (mutuals funds and others) charging some smalll percentage management fee. They also lend money on margin for all the accounts they have. With $11.3 trillion assets under management, even if they make 0.65% a year on one-fifth of the $11 trillion under management, they are earning $39 million per day. (You can copy & paste in Google) 11 trillion x 0.0065 / 365 x .20
Hi Noah, I'm glad it was helpful. I like TD Amertirade/thinkorswim's platform, but they have had so many problems this year. The Fidelity Active Trader Pro platform is very reliable in terms of speed of executions, cancelling orders, and giving instant feedback.
A couple things.. I have used several platforms and can say that Fidelity gives excellent fills and their newsfeed is probably the best I've seen. However, when it comes to rapid order entry, TOS is faster than using ATP shortcuts. First off, there's a limit to the number of shortcuts you can have. Second, if you really want to scalp in a fast moving market, you need Depth of Market (DOM). The TOS Active Trader ladder reduces your Fidelity two click order entry process to a single click and there is no clearing the trade ticket for a new order. Likewise, you cancel the order by simple clicking on it from the ladder. You can also replace it - let's say in a fast moving market you want to adjust your limit price - by simply dragging your order in the DOM. You can accomplish this in a fraction of the time it takes for a cancel and replace using ATP. When it comes to advanced order types, TOS is lightyears ahead of Fidelity. With TOS, you can have preset bracket orders (templates) where your entry, stop and target are predefined and the order is once again entered with a single click. You cannot do this with your method. You need to resort to Trade Armor which can be very frustrating to use. Even to set and Entry and Stop Loss..again this is a mouse click in TOS, but with Fidelity, I believe you also are forced to use Trade Armor. Another advanced aspect of trading with TD is you can click on your chart and enter orders in the same manner. You can also cancel orders from the chart, drag to replace, etc. Overall it's just a much more professional platform for serious traders. I noticed you didn't talk about setting stops, so maybe you can address that in another video. Another note: if you are interested in trading OTC, Fidelity does not offer L2 nor do they allow stops. They are however commission free.
@@ericsouther1027 I agree, better fills with Fidelity and as I said above their newsfeed is far better than what TD offers (benzinga). But they need to do some work on ATP..the platform is solid (meaning it isn't prone to lagging/crashing), but the functionality is lacking, imo. It would be nice if they would add futures at some point as well. cheers.
Ok ATP it is. I believe I found my guru. I just subscribed. I open a robinhood acct last July and made some money but I found the flatform so slow on execution and looking forward on day trading.
Hi Buener Marahas , Thanks for the support! I appreciate it. If you haven't seen it, the 'Active Trader Pro - Day Trading Screen Setup' video is pretty good - th-cam.com/video/9p_PRqFhah0/w-d-xo.html
@@buenermarahas4532 A laptop is fine. I used an older Dell laptop for my first year with Fidelity. If you think you may run a lot of other programs while you are trading then you could consider something more powerful. I wouldn't go out and get anything new yet.
In ATP you can click in the Level 2 window for the limit price you want to buy or short. Unfortunately it loads the quantity at the price you clicked at. You then can adjust the loaded fields. This is a simple way to pre load the directed trade ticket.
Thanks for this video. I was getting aggravated by the platform and you probably just saved me from jumping ship to TD, even though I had issues with them in the past. Can you do a video on how you customized your screen? I like your setup. I'm doing scalps too.
Thank you for this video, big thumbs up. I'd been manually typing everything in the trade ticket because I didn't know this was possible in the directed trade window.
Hi Peaceful Dragon, Thanks for checking out the channel. I appreciate the support. If you have any questions, feel free to put them in the comments section of videos. I try to answer all of them (with time). Good Luck!
@@ThinkTradeProfit do you have experience dealing with Fidelity day trading margin calculation? If I close the short leg of a credit put spread on SPX, they calculate the margin as if I sold the naked out and will issue me a day trade call. This is the most unreasonable margin calculation I have experienced.
@@peacefuldragon1831 Not really, I don't trade credit spreads much. I wonder what is causing the unreasonable calculation and the day trade call? Mid page here - www.fidelity.com/trading/faqs-margin Check the Options Spread Requirements section. I see a couple things. "A minimum equity balance of $10,000 for equity and index spreads" and "The margin requirement for credit spreads in nonretirement accounts is the lower of the difference in strike prices or the short option’s requirement as an uncovered position." You could also go to the web app, login, select an account, then select the "Balances" tab. At the bottom of the page, select "Margin Calculator" and select "Enter Transactions" and only put in your long side of the credit spread for SPX and see what the margin requirements come out to be. I hope that helps.
@@ThinkTradeProfit I called them, and they told me that’s how their system works, no matter how unreasonable it is. They have other limitations on day trading, e.g. 0DTE option trades are only allowed for cash settled index, not allowed for stocks, ETFs. I guess not many day traders will stay with them. You are one of the few TH-camrs featuring their platform.
When I try to add custom shortcut such as sell at market price, I cannot select the order type. Only option I get is "none selected". Action is set to sell. Everything else works great.
Hi Dan, I have seen a similar "bug" before. Try setting up that shortcut during regular market hours, after the market is open (9:30 ET). The available order types in Directed Trade change when it is premarket or afterhours (Market orders are not available, you can only use Limit orders during extended hours).
Thank you for the video! very informative and thanks for actually executing some trades (on a hot stock!). It really help me understand your flow and how powerful Fidelity execution is. Thank you
I think the real key here is the fact that they offer directed trading, if 40% of all retail trades (non-directed trades) goes to citadel and they can and do trade against the orders they execute. I might switch over to fidelity just to route my orders to direct exchange or arca instead of non directed trash market centers or middlemen making billions buying order flow.
Hi Jason, Thanks for visiting the channel. I totally agree. I've heard that Citadel stat before as well. The Fidelity executions are very fair and we get price improvement on market orders often (better than the best bid or offer at the time). I have a video on that as well. th-cam.com/video/YfM_OW7TSkI/w-d-xo.html
I've really enjoyed your videos! I noticed that your Fidelity ATP executions are quick.. usually under 1 sec. Mine take up to 3 secs. or so. What type of internet connection do you suggest? I was initially concerned my lag was due to the load on ATP itself.
Hi Timothy, I have Spectrum internet, the higher speed package +200 Mbps download and 22.61 Mbps upload. You can check your own here for free - www.speedtest.net/ I hope that helps. Good Luck!
Actually in addition to skipping the preview you can skip confirmation as well, which I believe will give you one keystroke entry. Hit the hot key, order placed, no need to hit the "Place" key. That's why I wanted to watch this video because I'm under $25K right now and under PDT so I can't test it because I am trading settled funds and ATP does not allow you to set hot keys for Cash, only margin. Not positive but try testing that on a small lot. Setting is on the TRADE tab, last option.
Hi Glen, Thanks for looking for ways to make things faster. Unfortunately, Skip Confirmation has no effect on the Directed Trade window and 'Place' button. It does remove a step from "manual order" entry, when you trade off a chart or watchlist by right-clicking, or when you go to Trade & Orders > Trade and open up a manual trade ticket like this - imgur.com/Q9YJFr3.
Awesome. You would love Active Trader in TOS. You can check auto send button and that will do one click order placement. You can do bid/ask grid one click placement also. Also in TOS you have change to real time execution as by default it's 0.5 sec delayed. Perhaps that's the slippage ppl refer to? I don't know if TOS has bid/ask slippage. In that dept Fidelity is probably a winner but you can execute faster in TOS from what i see you did here with Trader Armor as u have autosend. TOS is superior platform but it's not as stable as it should be. You also have after market development with usethinkscript forum which is Fantastic. Google that forum. One thing that is still annoying and problematic that TOS will foreclose on you once or twice in a week. Could be big issue if you're in middle of the trade. I guess if someone is big amount scalper that's NO GO for them. Other then that platform is pretty good. Reason i've opened Fidelity is for otcbb free trades. TOS doesn't have that. I know Schwab does which bought Ameritrade so perhaps they will implement that and improve TOS platform. I didn't want to wait and i didn't want to open Schwab account. Anyhow. Just wanted to share. You should test it out yourself. I absolutely love TOS platform. Hate crashes. Don't like no free otcbb trades so Fidelity it is for that.
Thanks for this. I learned a couple of things about how to set up my order window. I scalp options and once you execute 3 or 4 trades it gets crowded. However looking at how you sort by time stamp makes that all work. Now... can we all ask these guys to get with it on setting up Trade Armor for options?
I had changed my directed trade shortcuts to ARCX due to AUTO not working on some stocks. I just changed it back to see if I could get more price improvments.
@@ThinkTradeProfit If you set Auto in directed trade; if it does not find the routes, it will be blank, then you just choose the route. It adds an extra step to the process. This varies from stock to stock is what I found.
Hi, You can change the setting of the trade order in the general settings so that it will place without a preview. Have you tried that? I use it for the regular order form sometimes. I am not sure if it works on the directed trade form but it's worth a try.
if you want to exit even faster, just open a 'trade' small window with market ( sell or cover which ever applies to you) next to your direct trade , so you dont need to click elsewhere but instead save time to jump out of trade
Hi Moe, I'm sorry. I do not trade options very much, but I have this Options First Look in Fidelity Active Trader Pro video (if you haven't seen it) - th-cam.com/video/5KnjehXmT8c/w-d-xo.html
Hi Living Soule, Agreed, but their executions and price improvements are the best among the $0 commission brokers. Their customer service top-notch also. There is definitely better if you want to pay the fees. Lightspeed, Tradestation, IB maybe. Thanks for checking out the channel.
You'll have to get familiar the conditions for extended hours order entry. www.fidelity.com/viewpoints/active-investor/extended-hours-trading Only Limit orders are accepted, TIF will have to be Day+, and you may need to change the Route to ARCA or REDI (I can't remember). imgur.com/G2cILDs But the shortcuts will work if you configure them that way, then change them back for the regular market open. Or you can just preload with your preferred Limit price and switch the route and TIF manually, with your finger waiting on the 'Place' button for the right moment. In any case, they will work perfectly if you change the settings for extended hours trading. Keep in mind the some of the dropdown options for extended hours trading may NOT show unless you configure them during extended hours. So, wake early on Monday 7AM ET, and you can set them up and cycle through them without hitting 'Place' to ensure they are how you want. Good Luck!
@@ThinkTradeProfit Great thanks. I still like to have the confirm button enabled as sometimes I have done the wrong stock or have screwed up on a trade. Also could you possibly do a video on how you set your charts up? I do see that you have SMA 200, EMA 20 and EMA 9 as your indicators. Thanks, Tom
Thanks for this video and your honest review before. Both have been great! I am just starting up in day trading, and am moving away from using Schwab and Streetsmart edge because of their handling of margin. Would love to see more info on how you set up your custom buttons, and how you have your trading screen set up. Thanks again!
I created a new video about my current layout and shared my custom buttons settings near the end. I hope that helps! th-cam.com/video/9p_PRqFhah0/w-d-xo.html
Awesome video! Your setup is very useful. I just began taking FATP seriously after trading high volume equities. Do you have any books you would recommend on Day Trading, Scalping, Shorting, etc?
Hi Ken, Can you teach us how you arranged the screen(Left side candle sticks) the way you did that is very helpful . Directed Trade seems like only available when market is open. Can I pre configure it when market is closed?
Hi Laxmikanta Dash, You can change the settings in Directed Trade but you can't see your work until 7AM ET. To change those settings go to Settings > Directed Trade > then General or Stock Shortcuts. imgur.com/1OpnU0F To adjust your chart Settings, right click on any chart and select Settings. My Chart Settings look like this - imgur.com/j7MirOl And remember that you can "float" most windows outside of the Active Trader Pro green "frame". This way you can arrange your main monitors with charts and windows that you use most, just right click on them, select 'Float Window' and setup all your windows and charts how you like. imgur.com/Mewaoo3
Is there a way to set up the shortcut buttons to use a CASH account? For some reason when I set up the keys and then click the button it automatically diverts to Margin and I have to switch it to cash every trade.
Hi Martin, I'm not certain and all my accounts are margin accounts so I cannot test this theory, but try this: 1. Ensure the account you want to use as a CASH account is set in Settings > General > Default account 2. Ensure the account you want to use as a CASH account is set in Settings > Trade > Default Trading Account and then try again. I am not aware of any other settings that would affect this issue. imgur.com/SnwT5ug imgur.com/uMR70Oj
Hello, great video. But I am wondering if I can use a keyboard shortcut (i.e. ctrl+s) to place a order to close position (all shares with market order)?
Hi Polaris, Unfortuantely, Active Trader Pro lacks hot keys and keyboard shortcuts. The absence of hot keys is definitely a pain point. I've stuck with Fidelity through these issues as I grow my account. I truly believe they are the best of the $0 commission brokers for speed of execution and stability. For me, with Fidelity, I know I am going to get filled when I click and I know my orders will be cancelled when I cancel. The price improvements are exceptional as well.
Hi I’ve really enjoyed your videos. I’m using buttons as you’ve set them up. I realize I can quickly use the appropriate button to exit at market price. I’ve been stung unfortunately when there’s a quick reversal despite my quick reflexes. Adding stops after the buy order is placed is cumbersome. Other than using Trade Armor do you have a faster way to enter stops when scalping? Thanks
Am moving back to Fidelity, Schwab is starting to have problems, sometimes you can’t cancel your order, they don’t show when filled and no notification, it took like 20 minutes for notifications to start it cost me like 1000 loss
Hi Japheth, I totally understand. I have a second account at TD/thinkorswim and have never used it seriously because of those same issues. With their merger with Schwab, I do not feel like they can handle more people on the platform.
instead of clicking on the buttons can you use the actual key like ctrl+B buys 100 shares at market and Ctrl+S will sell your 100 shares on the market vs. clicking twice.
Hi Mauri, Unfortunately, Active Trader Pro does not have any hot key functionality. There is a rewrite in progress (I heard from the development team), but it could be a year before we see more features. I tried to create my own hot key functionality using AutoIT and AutoHotKey with some scripts running along with Active Trader Pro, but it felt too slow.
Do you ever use the Buy Stop order for entry? Like if there is several candlestick consolidations and you expect it to break above the resistance, and you want to place an entry trigger above that resistance beforehand? and if you do, do you recommend a Buy Stop or a Buy Stop Limit?
Hi Jin, I don't use Buy Stops that often, but I have complete confidence in Fidelity's executions in fast markets. I would use a Buy Stop in most cases (except for trades in TSLA, AMZN, or others where price can skip whole dollars or more). A Buy Stop is essentially just a market order to buy when price trades at a certain level. I've executed so many market orders over the past year on my exits that I am very comfortable with Fidelity's executions. Use a Buy Stop and an appropriate Stop Loss when trying to catch breakouts. A Buy Stop Limit may cause you to miss some of the most profitable trades.
Hi Rick, Thanks! No, I have not used Think or Swim (yet). I have been wary because of some of the issues they had in early March and other times. Lagging quotes, problems in fast markets, and things like that. Execution speed and quality with accessible customer service is really important to me. Fidelity has not disappointed me in those areas.
@duchess eagle Hi Duchess Eagle, Good question! I found their website for Canadian investors. www.fidelity.ca/fidca/en/home I can't find a mention of Active Trader Pro there. Might be worth a phone call, perhaps I'm not looking in the right place. Take a peek.
Yes! The only part that needs preparation is the option trading symbol. There are shortcuts available specifically for options. I suggest building a "pinned" list to a chart (and it will be shared with Directed Trade winow) to quickly populate the Directed Trade ticket with the option ticker. See the options shortcuts tab here, Settings > Directed Trade - imgur.com/xDe0hlh and the pinned list of the options you trade the most would appear in the Chart and Directed Trade like here - imgur.com/aHa2K9O Good Luck!
Also, not sure where you set the option for this (might be by selecting the "Status" option on the Orders setting tab, in the middle on the far right side?) but on my Orders Window, when YOU right clicked to cancel your order, my screen has a visible two button setup showing directly on the order. The buttons look like your custom hot key buttons. One for "CANCEL' and the other right below it "CHANGE". One click and it's cancelled. Don't have to right click and take a second to find the cancel or change option. One click and a populated Direct Trade Change Ticket comes up.
thinkorswim has some very good features. I have a second account there, but their stability is terrible. So many issues with cancelling trades or delayed executions have happened repeatedly this year. I can't count on the platform (yet).
I tried creating a buy to cover market hot key, have market selected for order type in settings, but it's blank when I go to execute trade and only gives me a limit option in the drop down. Is there another setting somewhere I need to change? Thanks.
Hi mrredbeerd, A couple of us in our community have seen that error recently. I actually reproduced in another video here - th-cam.com/video/wXPKXDEtxCo/w-d-xo.html Restart the platform is easiest, then check the shortcut again. My belief is that sometimes (for some reason) the Directed Trade window still thinks it's in a state of premarket and market orders are not allowed in premarket only Limit. I usually open my platform early in premarket, and this does not happen all the time. Best thing to do is to cycle through your shortcuts and click each and ensure they populate the order ticket as they should after the market opens at 9:30 ET.
No. Two-click is the fastest, but you can preload with the next order you intend to send and hover over the place button. Essentially one click in that case. The upsides are that Fidelity doesn't sell their order flow, price improvements come to you, uptime is much better that TD Ameritrade, executions are excellent, and no silly issues like you can't cancel orders, or receive late fills, or can't buy stock at the open.
@@ThinkTradeProfit yeah I can use hot keys and such and hover over the send button. I use Street Smart Edge from Charles Schwab, and it’s not that great. I use a Mac so SSE is server based on a mac. Laggy. I signed up for Fidelity today. Active Trader Pro is definitely a whole lot better than SSE. Much faster and better interface. Will be using Fidelity now. Thanks for the good videos. Not having your order sold is good. SSE only lets you sell smart orders, which I think it’s just like Auto on Active trader pro?
Hi Renee, Thanks for visiting the channel. 1. Sell Half - you'd have to create a second custom button for selling with the Quantity set to whatever size is half your normal. I just manually change this when I want to sell half. Hit your normal sell button, it fills the ticket, then adjust quantity, then Place. 2 Buy At the Ask + 0.05 - Yes! Change the Limit dropdown when you create a button to 'Above the ask' and add the amount. imgur.com/4jbSTFi
Really well done execution video (glad you made money while showing the capabilities). TOS has the order bracket for Level 2 ladder. It seems that Fidelity Active Trader Pro does not offer it. Am I correct? Thanks.
Hi Jonathan, Thanks for the positive feedback. Unfortunately, Fidelity Active Trader Pro does not have a Level 2 ladder like thinkorswim. They do have bracket orders (entering and moving a profit target and stop loss) which can be used in Trader Armor or entering orders via a Conditional order. If you are a very fast scalper and rely on these in the TOS ladder, you may be disappointed in Fidelity's order entry offerings. I hope that helps. Good Luck!
How do you make it so when you click on the bid and ask table the amount of shares that the price you click on doesn't load that share amount for that bid/ask into your share window? If i don't want to type in the share price, i want to click on the bid and ask prices, but don't want that bid or ask share amount to get loaded into my share amount window. Just loading the share price? Schwab does this. I cannot figure out how to do this with Fidelity. Can this be done?, or is it just the max share amount in settings that you set?
Hi Nate, You can create stock shortcuts to specifically Buy or Sell At the Bid or Offer (or with some price above or below). That is how I set my Buy / Sell at Bid / Offer. Even with the shortcut keys you'll have to define some start share size. It is set at the Limit level when setting up the shortcut (At the Bid, At the Ask, Below the Ask, etc.) This is an example of a Short Sell setup .01 below the asking price. imgur.com/1OpnU0F
Do you use Market BUY orders or just LIMIT orders for when you BUY Also is 2000 share BUY MARKET order on a Stock like MU or INTC or AMAT ..( SEMIS) hard to get filled with a good Spread ?? Ty
Hi Rob, It's tough to get filled on a very active stock with high volume (MU, INTC, AMAT) unless it trades through your Limit Buy price, meaning there is that 0.01-0.03 drop (for a Buy Order). But if you do get it and it's doesn't drop much initially, you can always tap out (Market Order) at the bid flat or with little loss at any time. The algos will tend to jump in front of you , sometimes, for even small order sizes (400s), but I almost never put out more than 1,000 shares on the Bid when looking to Buy. Market Orders give pretty good fills through Fidelity's price improvement, and I do use (more rarely) when the setup looks really good and I expect a larger move. So, to answer your question, I use both, but for short-term small scalps, I use Limit Orders. I I think I'm going to hold the trade longer than 15 minutes and it looks like a good setup, I'll use a Market Buy if the spread isn't too wide. I hope that helps. Good Luck!
Have you heard of any bad experiences from Active trader pro. I heard many stories of extreme lag from thinkorswim and i heard of shutdowns on robinhood. Any from Active Pro Trader?
Hi Abhiram, Nothing like what thinkorswim or Robinhood users have experienced. I have used Fidelity Active Trader Pro full-time for 5 months and part-time for more than a year before that (30 trades a day or more). I believe it is the most reliable platform in terms of stability and speed of execution of all the $0 commission brokers. I used Schwab a few years ago as well. Thinkorswim has a lot more in their user interface, but there dependability during fast markets or the first few minutes of the day is questionable. No one should be using Robinhood anymore with so many full-service brokers that have gone to $0 commission and their multiple day outage in March 2020.
Just subscribed. Great videos! I trade a pretty similar style to what you're trading in this video, although I'm typically trading lower priced stocks $1-$5. I'm addicted to TOS's hot keys, but I'm being killed by TOS's sale of order flow. Because of the sale of order flow I'm strongly considering jumping to Fidelity, but do you know of any way to set up hot keys? I don't know if I can trade without them at this point. I'd also love to know if on the Active Trader if I can click the button several times once it is set? If so, I can probably adjust and just do everything with my mouse.
Hi Anthony, There are no hot keys unfortunately, but I know you can adjust, because I have. The Price Improvements and fills from Fidelity are so much better. You'll be fast enough with the mouse. Get familiar with all the possibilities with the stock shortcuts from this video. (Buy below the bid .01, .02 or Sell Above the Bid/Ask .01, .02, ...whatever you need for your style). You should also watch my Price Improvements video - Fidelity | Stock Trade Price Improvements - How much $$$ can you make? th-cam.com/video/YfM_OW7TSkI/w-d-xo.html I don't trade low prices stocks, but i do compete with algos in stocks like FB an PYPL. For my scalping, I usually enter trades with a Limit Order and exit with a Market Order. The fills are that good with Fidelity that I can trust them with Market Orders even in fast markets. +70% of my Market Orders get Price Improvements.Obviously, using only Limit Orders to enter, I miss entries, but that's OK, because my risk is so much less. If I Buy at the Bid and things don't move my way immediately, I can tap out at the Bid with a market and often get Price Improvements. It's going to feel painful at first (I have a second thinkorswim account), but give it some practice and keep track of your price improvements in the stocks you trade. Make adjustments as necessary. Good Luck!
@@kimbuck-2 Hi KimBuck2, It shouldn't happen (often), but it can happen. Consider your bid for 1 share, which you entered at a specifc time. There could have been other bids (orders) entered at an earlier time in the order book. Imagine If you were "in line" to buy 1 share and there were was another person "in line" ahead of you (on the bid) to buy 500 shares. Then someone, somewhere, puts in an order to sell 100 shares at the market (on the bid). The order routes to the marketplace and that someone sells 100 shares on the bid. The orders in the order book that were ahead of head of you get executed first, and they only get a partial fill (they bought the 100 shares). At the same time, bids come in +0.01 above your bid and then more bids start stacking up even higher as the stock moves higher. The stock traded at your limit price (for 100 shares), then moved higher. You can always check the main nav 'Quotes & Watch List' > Times & Sales , then enter your ticker and review the trades. See my example with MSFT here - imgur.com/v2mBo0f . Imagine you had a limit order to buy 1000 shares of MSFT at 251.51. Look at the second entry down, MSFT traded 100 shares at 251.51 (Last Price), then started to move higher. It could've been the same market situation you experienced. I'd have to know the stock you were trading. It is possible that your stock was NEVER offered at your price (the national best offer), but some market maker somewhere, executed a trade as it traded down or through your limit (bids went lower, but the offers did not, the spread widened) One other thing you can do, is use ARCA for your Limit Orders, then they should definitely be shown in the order book on your screen and everyone can see. I play in the quotes sometimes with stocks that have a wide spread to see if I get "hit". You are right though, for 1 share using AUTO routed limit orders, they might not be required to "show your quote" in the best Bid or best Offer order book. I hope that helps. Use 'Times & Sales' as I showed above. I trust Fidelity. I have received so many price improvements and executions between the bid and offer than don't happen with any other broker. If you trade stocks with wider spreads, and use market orders, you can get some really good fills in fast markets. Good Luck!
Hi Isaac, Yes, I actually Short stocks more often than I Buy, which of course has been more difficult this year. The executions are very good with Fidelity. Many price improvements (better than the current bid or ask) when using market orders. You might want to check out my Honest Review of Fidelity if you haven't seen that - Remastered with Improved Audio here - th-cam.com/video/QDNy64dvSgA/w-d-xo.html and some of my Live Trading scalping here - th-cam.com/video/sFSEenxtSq0/w-d-xo.html
I don’t do limit orders I get in and out asap. The problem is the profit and loss won’t catch up. Balances won’t connect till about a minute after trades? Why?
Hi Mayday, It wasn't always so slow. I do the mental math for my trades for P&L during those times. Try keeping the web app open in a browser on the side and refreshing the Balances page. I hope that helps. Good Luck!
Is there a setup on Active Pro to be able to sell the same stock I own in different accounts at the same time?... I thought I saw a video about the ability to do that and can't find it anymore. I always buy the same stock in a few accounts and have to enter the buy/sell manually on each accounts which is time consuming. I lose profits at times from having to go into each accounts to execute my orders.
Hi DMLK CS , Thanks for checking out the channel! I think the best way to do this is, Trade & Orders > Multi-Trade, you still have to setup the orders. but you can trigger them all at once. screen capture example - imgur.com/yzoh0SS
Thank you so much! That is what I had seen and was looking for. I really like your setup and will set mine up like yours. I really like trading with Fidelity, been with them for over 15 yrs. The only thing missing on Active Pro is the Heikin Ashi candles. The program would be perfect if it had those. Thank you again for your help! New sub 👍
Awesome video thanks so much! Is this an upgraded version or can I access this from my standard fidelity account once I open it? Also is there a time delay on market data?
Hi Rohkani, Active Trader Pro is now free for everyone with a Fidelity account. If you want to poke around before your account is setup, try this demo download. rewards.fidelity.com/RFI/signup/active-trader-pro-demo There is no delay on market data, it is very fast and reliable. I think the best among the $0 commission brokers. When you are setting your Active Trader Pro just ensure you go to Settings > General > and set Market Data Update Frequency to Streaming (screen capture - imgur.com/CBnwDDd )
Hi spat_P, I don't trade spreads much. I'm not sure how to close in one single ticket if you created it "manually". If you can find the spread here - researchtools.fidelity.com/ftgw/mloptions/goto/optionPairingResult Then you could grab the symbol for the spread and use in a single ticket or Directed Trade. imgur.com/ihybkVX
hey buddy, any tips on how to pick stocks/fast markets? there's so many to sift through but i want to be better at finding them myself instead of relying on forums and stuff like that. thanks much
I like stocks that gap up or down more than 3%, trading higher volume, and at higher price ranges (I don't trade small caps). I use the free version of this tool - th-cam.com/video/wrpy6DX4LpA/w-d-xo.html Even with the 15 minute delay, it is very powerful. All the watchlists can be customized, and I refer to it throughout the day.
@@ThinkTradeProfit thanks a lot buddy, i really appreciate your prompt and helpful reply. i unfortunately listened to the wrong people and am in the negative with GME. so i'm trying to do a financial clean-up. i'm a little depressed but trying to stay positive.
SUPER HELPFUL. I am really comfortable on ATP and was looking deeper into other platform for hot keys. But this is just another click. 1 question please, i'm making custom tabs on the direct trade like yours but on the "order type" drop down menu it only shows none selected. I want to choose market. is it because market is closed? Doesn't make sense. I'd be grateful if you know why. Thanks!!
Ok, i read below I should restart. let me try that first. thanks! It didn't work, could it be because it's weekend, and I can't customise that while market is closed??
Hi Jeffrey, You are exactly right. It's because the market is closed. The best time to set these is after the market open at 9:30 EST. You can do some setup in premarket after 7:00am on Monday, but only Limit orders will be available then. (There are no market orders in premarket). Just set aside a few minutes in the morning after market open and everything will be available. Then cycle through them without hitting 'Place' and check to make sure they populate the Direct Trade window like you want.
@@ThinkTradeProfit Thanks so much for your reply. I'm watching the rest of your video now! You helped me so much, I'm keeping ATP. You showed me how to speed it up. thanks a lot! and best to you!!
Hi Jay Son, Go to Settings > Directed Trade > Stock Shortcuts tab > then create a shortcut similar to this - imgur.com/XGoluPw For the Limit Price, select 'Above the Bid', then put whatever range above the bid in the 'by $' amount field. In my example, I'm willing to Buy above the bid +0.05. I hope that helps. Good Luck!
Note: This not tax advice, always consult a tax professional. The Wash Rule is so misunderstood and scares so many people. It was put in place to prevent people from selling at a loss (and deducting capital losses on their taxes), but turning around and buying back what they sold within 30 days. This is a good primer on understanding it - www.schwab.com/resource-center/insights/content/a-primer-on-wash-sales#:~:text=The%20wash%2Dsale%20rule%20was,or%20after%20the%20sale%20date). My simple explanation: You only have to worry about it if you are trading the same stock or substantially similar securities and take a loss near the end of the year, then turn around buy the equivalent position back, AND hold it into the next year. Other than that, it doesn't matter. You can't avoid wash sales. They look really scary in your statements and in Active Trader Pro, but they are nothing to worry about. Every time you trade the stock again, the wash sales loss is applied to the basis of your next trade. You aren't hurt by a wash sale. You aren't losing anything. Fidelity reports all of them to you, and they import easily into popular online tax programs like HR Block and Turbo Tax. If you have a bunch of wash sales and you don't trade the stocks again this year, it's OK. If you have a bunch of wash sales, and you trade the stocks again, but get out of them before the end of the year, that's perfect..
Thinking of moving full time to Fidelity. I opened an account and am trying to figure out how to "save" an order layout like in TOS. There I can create an Iron Butterfly with 50 point wings and save it. Then, anytime I want to create that trade, I go to the SPX option chain and choose "SELL CUSTOM" and there is the trade structure I created, "Iron Butterfly 50 Wide" and with one click, the order is ready to enter. Can Fidelity Active Trader Pro be set up that way?
Hi Marc, There may be an easier way to start that trade in Fidelity, going to Options > Options Strategy Ideas, but I can't see too much on my accounts. I only have Options Level 2 (so this dropdown has limited choices). imgur.com/QD8m91X I don't trade options much. There may be something to do in Directed Trade, but I'll have to look during market hours. It is not accessible right now. Hang in there and let me research a little.
I rolled over my 401k into an IRA years ago before I got into trading. Now I have some limitations that restrict me. One example is I cannot use a bracket OTOCO order with Market Buy must be a Limit. I noticed other platforms have hotkeys and a button to "Cancel All" orders. How do you work around these limitations with ATP in Fidelity? I have noticed others suggesting opening an account with another broker that offers synthetic "practice" trading in addition to use hot keys, making it easier to get in/out. Any opinions or advice on this? Thanks
Hi Vote Gauntlet, The absence of hot keys is definitely a pain point. I haven't heard of your issue with only Market orders allowed with OTOCO's. Are you trying to enter in premarket? (then it would make sense, as only Limits are allowed there). 'Cancel All' is one I wish he had as well. The truth for me is that I struggle through the lack of these options with speed of mouse and clicks. I've stuck with Fidelity through these issues as I grow my account. I truly believe they are the best of the $0 commission brokers for speed of execution and stability. thinkorswim is out (I have a second account there, and there have been too many issues there this year). I think Lightspeed is good if you are a day trader/scalper, but there are fees and commissions. I guess you have to ask what is most important to you. For me, with Fidelity, I know I am going to get a filled when I click and I know my orders will be cancelled when I cancel. The price improvements are exceptional as well. I hope this helps you think through what is best for you.
@@ThinkTradeProfit Thanks for the reply and feedback... I'm in an IRA and they do not allow Buy Market in an OTOCO, but I can use Buy Limit. Fidelity has great support but I think I will additionally open a free TD Ameritrade 1) TS has a simulator to practice in 2) TD looks like it has more of what I need specific for this type of Day trading (I can just roll over a few dollars if needed). Here's a Fidelity example using trade armor and trading a premarket gapper like CBLI which is gapping this morning ~4.27 from current 2.17 . If I open a OTOCO with BUY Limit 4.26 Top SELL +10% Trailing stop @ -10% The orders appear off the screen. I would have to change chart time to 6 months even to see it which is not useable. I told Fidelity and they will suggest a change, however I really need something I can use now. The using a limit order vs limit in a bracket is not a huge problem, visibility is more important. Lightspeed and esignal are great, just going for the comision free platforms for now.
@@ThinkTradeProfit Update: after calling TD Ameritrade I realized I am forgetting to have enough in a 2nd account to day trade. I do not so the point is moot. I will continue using fidelity and try to improve my existing strats.
I do not think you can, but there are way to make the process fast. If you need to make changes in fast markets, then 1. Create custom Directed Trade Stock shortcut "button" with your Sell Stop Market order and set the limit price (away from the bid or ask you want it to execute). 2. Then enter your position however you like, immediately following with your Stop loss order using the custom shortcut (Now you are protected). 3. Go to the Order window, select Cancel and Replace, and queue up the change for a market order. This can be done immediately and it is placed in the Directed Trade window, but do not hit 'Place' until you want to exit at the market. It will cancel the Stop loss protection and execute your market order. 4. It about 3 clicks and you can wait to execute the market order while being the protected the whole time. If you do not need super-fast changes during busy markets, you can enter bracket orders in Trade Armor and then just use the sliders in that window to adjust your initial stop loss to the current market price. imgur.com/fvM0foj www.fidelity.com/learning-center/tools-demos/active-trader-pro-platforms/trade-armor-active-trader-pro-video
TOS definitely has delays especially at the open. Ive recorded many trades where market orders took forever. Then id report it and they would refund money to me after seeing the recording. I just dont trust that platform at all and think shady stuff goes on behind the scenes. Level 2 and Time and sells is garbage too
Hi Jeff, Not sure if you're referring to the Stock Trading Shortcut buttons that you create yourself for Directed Trade or the Market Order dropdown in Directed Trade. imgur.com/t8peHvu imgur.com/H8s9Prb To setup the Directed Trade Shortcut for a Market Order, go to Settings > Directed Trade > and then build something similar to this - imgur.com/t8peHvu I hope that helps. Good Luck!
I had to change it to sell short then pick market then back to buy to see market. Now have to wait to test on open hours. Thank you. Guessing a little bug.
You can place Stop Limit, Stop Market, and Trailing Stop orders for ($ or % amounts) in Directed Trade. You can enter them manually or setup shortcuts. imgur.com/d8vRgUA
Hi TK SNO , Yes, in Directed Trade (you won't be able to access until 7AM ET). Settings > Directed Trade > Stock Shortcuts tab, then create a shortcut that is a Order Type 'Limit order', then you can see the choices in the dropdown at Limit and the offset to the side. In my example, imgur.com/AONsqCL , my BUY BID sends a Limit Buy Order out at .01 above the current bid. Thanks for supporting the channel!
Hi John, No, they are not even close to the same calculation. It's true, Active Trader Pro does not have a built-in VWAP indicator for charts. You can add the value to Watchlists, so with all your favorites, you can know the numerical value for VWAP at any time. I use a free account at tradingview.com in a browser on the side. They have a good VWAP indicator. It's manageable, as most of the time you want to know if price is under, above, or boucning off VWAP. imgur.com/bJU327I
@@ThinkTradeProfit I use TD, i scalp trade i dont short stocks, i basically look for Dips and runners, mostly OTC, im doing OK but the fees are crazy and fidelity doesnt charge fees for OTC stock which is huge, sometimes i can make $20-30 but after $14 for the trade i always tend to hold a bit longer and get burned, trying to learn this platform for scalping OTC's
@@wgwrigel1 I totally understand. Those fees are too high. The Fidelity platform could use many improvements but with practice you can scalp fast. You should also see many Price Improvements on your orders if you use Market Orders on entry or exit. (Price Improvements come on Limit Orders also but not as often). Good Luck!
Hi RawTrades, Thanks for visiting the channel. Unfortunately, you are probably seeing this imgur.com/De1qJUY. You won't be able to see the Level 2 quotes and the action until 7am on Monday.
This was very informative. Thanks, didn’t even know what Directed Trade does. I’m seeing that ATP is much slower than yours on my MacBook Pro. Highly optioned. Any suggestions?
Hi David, Thanks for the positive feedback! Check this first, Go to Settings > General and look at Market Update Frequency to ensure it is set to Stream (screen capture - imgur.com/CBnwDDd ). I haven't had much feedback from Mac users, but it seems most have had success on Catalina with ATP.
@@ThinkTradeProfit Thanks for the tip. Yep get frequency set to Stream and using Catalina. 2.6Ghz 6 core i7. 16GB RAM. Late 2018 model. Really surprising that it is so slow. Almost missed a high this morning coz it wouldn't take my "Place Bid" click...
@@DavidSL64 Your system specs are more than good enough. I've run it on Windows i5 with 8GB RAM and integrated graphics. I fear it is something with the Macintosh implementation maybe. I see some unfavorable stuff here from a couple months ago. www.reddit.com/r/Fidelity/comments/gav7n0/active_trader_pro_mac_version_having_problems/ Would you consider running a Windows Virtual Machine on your Mac? I wonder if it would run better? I think your system specs are great.
@@ThinkTradeProfit Thanks for the link to that article. I talked to Fidelity tech support twice today, and they gave me some ideas for improvement. I run two screens, and so one theory is that my 4GB VRAM is shared between the two screens. So I rebooted with just one screen. I think it ran better, but I still don't think it ran as well on my Mac as it did on my son's Windows machine. One of the tech-support comments was "we hear that is generally the case - that ATP runs better on Windows". I'm going to try one more session tomorrow, and if it still doesn't feel right, I think I am investing in building a windows machine. As you know, speed is very important.
Whatever share size you set there will be the max share size populated in the Directed Trade window IF you click within the Level 2 window on a bid/ask price to populate an order. For example, you click on a bid price in the Level 2 window where 500 shares is bid. if you have your Max Book Quantity set to 100, it will only populate the the share size in your Sell Order in Directed Trade for 100 shares. imgur.com/JxaM1VC
Awesome video. I want to leave Schwab because of terrible lag at the open. I'm strongly considering Fidelity only thing is I scalp options. Do you have any resources for me to check out so I can familiarize myself trading options fast on this platform? Thank you so much!
Unfortunately, I don't have options enabled on any my accounts. I think you would want to use Directed Trade for Options as well, as you just watched in this video. There is a write-up about the possibilities here by Fidelity - scroll down to the 'Directed Option Trading' section, 3/4 of the way down the page. You have the ability to use/create the shortcuts for options too. www.fidelity.com/products/atbt/help/ActiveTraderTools_Trade_Help.html#directedtrading I don't have much that I created myself other than the peek at Options Chains in the Trade Armor video - th-cam.com/video/V4mLwwJrPiU/w-d-xo.html but I don't use that for quick trades.
Think Trade Profit I just read that link you sent. Very helpful. I’m excited about the possibilities. Thanks again, great videos. You got a new sub for sure
I was just wondering, for the past two days the Level 2 tape doesn't have green and red colors anymore (only white). Does anyone else have the same issue?
I heard from some others in our channel community that Fidelity admitted to mistakenly removing those colors (or creating a defect). Supposedly, they will be replaced in a update.
Thanks for the video. That seems kinda slow though. With TOS I can and do execute orders much faster. It's not uncommon for me to hit the buy and sell button 10 times in 5 seconds. You can't do that here. Unless I missed something??? Or if that can be done on fidelity please share with the class.
Hi Josh, Thanks for visiting the channel. I agree, it's not perfect. I recently opened a second account at TD Ameritrade to peek around, but the stability issues are huge negative for me.
For what it's worth I use Autoit to code hotkeys for the TOS interface and it allows me to get in and out of trades very fast. I opened a Fidelity account today. I'm gonna see what I can do to make it faster because I would like to trade there while using TOS charts. Thanks for the reply and keep up the good work.
My productivity on Fidelity ATP has significantly improved after watching your videos on ATP. On the Directed Trade Window for Stocks - I am not able to configure a market order. i.e I configured one of the buttons for Buy 200 MKT and Route Auto. When I clicked on this button - Everything is loaded up correctly - except the order type and I only see a limit option there. Can you not do market orders using Directed Trade Window ? Thanks
My guess is that you were trying to do this setup during premarket hours (before 9:30am EST). The dropdowns change when you enter regular market hours. I don't think the "Market" Order Type was available because during extended hours you can only enter Limit orders. Try it again. imgur.com/m4URd39
Hey - when I go to place an order on the directed trade window and click 'Place', I then have to click another button for confirmation before the order gets executed. So its three clicks instead of your two. Do you know how to remedy this?
I am going to try this tomorrow - thank you! Also, I haven't tried OTOCO yet (www.fidelity.com/learning-center/tools-demos/active-trader-pro-platforms/placing-conditional-orders-active-trader-pro-video). Would appreciate your thoughts on pro-con of the 'buttons' vs an OTOCO for scalping. Always looking for ways to improve! Thank you.
Hi Melissa, I think OTOCO are a great option. I haven't used them much because I have had a good experience of closing my orders when I want/need with market orders (and I don't initially set price targets). OTOCO can still be very flexible. If I were to use them I think I would have the OCO order price target farther away from the current market and have the Stop Loss where it makes sense for my system. Then you can always Cancel & Replace the the Price Target part of the OCO pair with a market order, having it queued to be ready for when you submit. With this, you have the Stop Loss side the whole time for protection and it is cancelled if you choose to exit at the market.
Hi Isaac, You can only cancel orders before they are filled. If you're in a position that is not going your way, you can get out quickly so you don't lose too much money. With $0 commissions and Fidelity's fast executions, you can change your mind if a trade is not working out. Thanks for supporting the channel. Good Luck!
Hi Elliot, Thanks for supporting the channel. Go to Settings > Directed Trade. You need the Directed Trade Window open. Unfortunately, you won't be able to see any action until 7AM EST on Monday. screen captures - imgur.com/3XRddxB imgur.com/De1qJUY
Volume stats can be found by using 'Quotes & Watchlist', Select 'Quote', then enter your symbol, expand that window. imgur.com/S4QsNwd You can also add 10-Day Volume and 90-Day Volume as a column in any Watchlists. I haven't found float easily. You could use the free version of trade-ideas.com (see my video - th-cam.com/video/wrpy6DX4LpA/w-d-xo.html ) Select 'New', then 'Single Stock Window' , enter your Symbol. Their data is excellent. imgur.com/TveNP9D
how do you make all those screens to stay on your screen.. i do have the fidelity active pro and i can put all those screens on my screen but every time i click out of the page they go away.
Hi Edvin, Thanks for visiting the channel. Hard to say without seeing your layout, but I float all my windows outside of the Active Trader Pro green frame to one monitor for my layout. I keep the Active Trader Pro green frame on a different monitor. Try that.
You can add "Cancel" and "Replace" buttons to your orders window for one click action too
This guy knows stuff! This channel is small (so far), but so many great advices!
Hi
Haitao,
Thanks for the checking out the channel! I appreciate the support.
My broker trading execution is overwhelming
Who’s your broker?
@@brunoschell4872 Melissatradeservice
@@josephgilbert2208 Oh wow... that’s my broker too
She is highly dedicated and a profitable individual.
Trading with an expert insights make it very easy, I have been opportune to trade with the best. So far Melissatradeservice has been a blessing to me.
What’s her details?
A guy that is willing to lose some money to show us how to execute orders on a HOT stock!! Def 👍🏼👍🏼!!
This is JUST WHAT I NEEDED. I'm a newb, and don't have my screen set up correctly. This will definitely help..! Thanks!!
Hi Steve,
Thanks for support. I think you've found the two best videos. If you are new to the markets, I suggest the 'How to place Stop Orders - Each Stop Order Explained' video - th-cam.com/video/6Wp4cWqFIpw/w-d-xo.html It is good to be aware of all the the "tools in your toolbox". Good Luck!
Ken, found a faster way to trade on Fidelity. Open multitrade ticket. Pre fill your trade info up to 50 trades. For example i filled out buy and sell for 4 of my ETFs that i trade with everything filled out. Bid and Ask automatically fills. Check box hit place. You can right click that field and duplicate the trade. Helps when you buy and sell frequently. Even shows p/l for trade while in it.
Hi Michael,
Good idea. I haven't looked at multi-trade in a long time. I tried it out long ago. This is a great reminder. Will give it another look. Thanks!
I do have a question. Just after market open do use market orders or still use limit? I've been having a hard time getting filled with limit in the first 10 min. Any ideas what I can do?
@@Mastiffman1 It's really hard at the open, especially in stocks that have a lot of algorithms. I trust Fidelity's executions enough to use market orders when playing momentum at the open, but I usually trade a little smaller. If it a trade doesn't go my way almost immediately, I'm looking to get out with a market order as well. You can setup your shortcut keys to Bid + 0.01 or Offer -.01 than the best bid/offer. If you don't get filled quickly, then cancel. I hope that helps.
Exactly the kind of video I was looking for, thanks! Trying to see how Active Trader Pro compares to ToS
Hi Subzero Arctics,
I hope it was helpful. I appreciate the support.
That price improvement tip kinda was the highlight here because i did not know they did this!
Hi Emil,
It's pretty interesting, and the $ can add up. If you are interested, I did a little more research about it here. th-cam.com/video/YfM_OW7TSkI/w-d-xo.html Good Luck!
I've been using TOS for years and had no idea fidelity had such a great trading platform. They dont sell order flow, thats awesome.
Hi Justin,
Fidelity's executions and price improvements are among the best. Their platform is becoming a bit dated. Definitely in need of new features, but it is very reliable and fast during all market conditions. I hope that helps. Good Luck!
@@ThinkTradeProfit if Fidelity don’t sell order flow, what does it profit from? The trade fee is zero.
@@dmortiz1972 They are a giant financial services company, not just a broker who completes stock transactions. They have fees on their financial products (mutuals funds and others) charging some smalll percentage management fee. They also lend money on margin for all the accounts they have. With $11.3 trillion assets under management, even if they make 0.65% a year on one-fifth of the $11 trillion under management, they are earning $39 million per day. (You can copy & paste in Google) 11 trillion x 0.0065 / 365 x .20
I had really bad problems at the open too with tos and am going to switch over to Fidelity. This is what i was looking for. Thanks a lot.
Hi Noah,
I'm glad it was helpful. I like TD Amertirade/thinkorswim's platform, but they have had so many problems this year. The Fidelity Active Trader Pro platform is very reliable in terms of speed of executions, cancelling orders, and giving instant feedback.
A couple things.. I have used several platforms and can say that Fidelity gives excellent fills and their newsfeed is probably the best I've seen. However, when it comes to rapid order entry, TOS is faster than using ATP shortcuts. First off, there's a limit to the number of shortcuts you can have. Second, if you really want to scalp in a fast moving market, you need Depth of Market (DOM). The TOS Active Trader ladder reduces your Fidelity two click order entry process to a single click and there is no clearing the trade ticket for a new order. Likewise, you cancel the order by simple clicking on it from the ladder. You can also replace it - let's say in a fast moving market you want to adjust your limit price - by simply dragging your order in the DOM. You can accomplish this in a fraction of the time it takes for a cancel and replace using ATP. When it comes to advanced order types, TOS is lightyears ahead of Fidelity. With TOS, you can have preset bracket orders (templates) where your entry, stop and target are predefined and the order is once again entered with a single click. You cannot do this with your method. You need to resort to Trade Armor which can be very frustrating to use. Even to set and Entry and Stop Loss..again this is a mouse click in TOS, but with Fidelity, I believe you also are forced to use Trade Armor.
Another advanced aspect of trading with TD is you can click on your chart and enter orders in the same manner. You can also cancel orders from the chart, drag to replace, etc. Overall it's just a much more professional platform for serious traders. I noticed you didn't talk about setting stops, so maybe you can address that in another video. Another note: if you are interested in trading OTC, Fidelity does not offer L2 nor do they allow stops. They are however commission free.
I have both TOS and Fidelity, fills are faster in ATP even with 2 clicks than TOS on volatile days and same speed most days, just my experience
@@ericsouther1027 I agree, better fills with Fidelity and as I said above their newsfeed is far better than what TD offers (benzinga). But they need to do some work on ATP..the platform is solid (meaning it isn't prone to lagging/crashing), but the functionality is lacking, imo. It would be nice if they would add futures at some point as well. cheers.
Ok ATP it is. I believe I found my guru. I just subscribed. I open a robinhood acct last July and made some money but I found the flatform so slow on execution and looking forward on day trading.
Hi Buener Marahas
,
Thanks for the support! I appreciate it. If you haven't seen it, the 'Active Trader Pro - Day Trading Screen Setup' video is pretty good - th-cam.com/video/9p_PRqFhah0/w-d-xo.html
@@ThinkTradeProfit I definitely will. Would a laptop be enough or i really really need a good desktop setup?
@@buenermarahas4532 A laptop is fine. I used an older Dell laptop for my first year with Fidelity. If you think you may run a lot of other programs while you are trading then you could consider something more powerful. I wouldn't go out and get anything new yet.
In ATP you can click in the Level 2 window for the limit price you want to buy or short. Unfortunately it loads the quantity at the price you clicked at. You then can adjust the loaded fields. This is a simple way to pre load the directed trade ticket.
the only guy doing videos on FATP, fuckin legend thank you sir. also fit and in shape, i trust this guy
Hi MikSane,
Thanks for the support! I appreciate the positive feedback. Health body = healthy mind. 💪
@@ThinkTradeProfit have a great day!
Thanks for this video. I was getting aggravated by the platform and you probably just saved me from jumping ship to TD, even though I had issues with them in the past. Can you do a video on how you customized your screen? I like your setup. I'm doing scalps too.
Hi Matthew, I missed this a while back. Hopefully, you seen this video - th-cam.com/video/9p_PRqFhah0/w-d-xo.html
This video is very helpful. I'll have to try this out tomorrow since the market closed. Thanks
Thank you for this video, big thumbs up. I'd been manually typing everything in the trade ticket because I didn't know this was possible in the directed trade window.
Thanks for the feedback. I am glad I could help.
Finally, day trading setup on Fidelity platform.
Hi Peaceful Dragon,
Thanks for checking out the channel. I appreciate the support. If you have any questions, feel free to put them in the comments section of videos. I try to answer all of them (with time). Good Luck!
@@ThinkTradeProfit do you have experience dealing with Fidelity day trading margin calculation? If I close the short leg of a credit put spread on SPX, they calculate the margin as if I sold the naked out and will issue me a day trade call. This is the most unreasonable margin calculation I have experienced.
@@peacefuldragon1831 Not really, I don't trade credit spreads much. I wonder what is causing the unreasonable calculation and the day trade call? Mid page here - www.fidelity.com/trading/faqs-margin Check the Options Spread Requirements section. I see a couple things. "A minimum equity balance of $10,000 for equity and index spreads" and "The margin requirement for credit spreads in nonretirement accounts is the lower of the difference in strike prices or the short option’s requirement as an uncovered position." You could also go to the web app, login, select an account, then select the "Balances" tab. At the bottom of the page, select "Margin Calculator" and select "Enter Transactions" and only put in your long side of the credit spread for SPX and see what the margin requirements come out to be. I hope that helps.
@@ThinkTradeProfit I called them, and they told me that’s how their system works, no matter how unreasonable it is. They have other limitations on day trading, e.g. 0DTE option trades are only allowed for cash settled index, not allowed for stocks, ETFs. I guess not many day traders will stay with them. You are one of the few TH-camrs featuring their platform.
When I try to add custom shortcut such as sell at market price, I cannot select the order type. Only option I get is "none selected". Action is set to sell. Everything else works great.
Hi Dan,
I have seen a similar "bug" before. Try setting up that shortcut during regular market hours, after the market is open (9:30 ET). The available order types in Directed Trade change when it is premarket or afterhours (Market orders are not available, you can only use Limit orders during extended hours).
@@ThinkTradeProfit Thank you sir. I was able to apply it during normal trading hours. Works great now. Thanks for the great info! It has helped a ton
Hello, great video! I don't know if you know this or not but if you go to settings>trade, there's an option to skip the preview and confirmation
Hi Andy, Thanks for the insight and for supporting the channel!
Yes one click with bigger buttons spaced out some would make this a complete package for me.
Thank you for the video! very informative and thanks for actually executing some trades (on a hot stock!). It really help me understand your flow and how powerful Fidelity execution is. Thank you
Thanks again for the support, Al! I really appreciate the feedback.
Thanks for referring me to this video. Helps a lot! Thanks.
Thanks Ken, this was very helpful, fidelity doesn't have good demo videos or user manuals
Hi Upendra, I'm glad this was helpful. Thanks for supporting the channel.
Thanks! I'm just starting and your videos are very helpful 🙂
Hi Natalya,
I'm glad they are helpful. Thank you for the support!
Thanks for the video. It helped me a lot!!
I think the real key here is the fact that they offer directed trading, if 40% of all retail trades (non-directed trades) goes to citadel and they can and do trade against the orders they execute. I might switch over to fidelity just to route my orders to direct exchange or arca instead of non directed trash market centers or middlemen making billions buying order flow.
Hi Jason, Thanks for visiting the channel. I totally agree. I've heard that Citadel stat before as well. The Fidelity executions are very fair and we get price improvement on market orders often (better than the best bid or offer at the time). I have a video on that as well. th-cam.com/video/YfM_OW7TSkI/w-d-xo.html
I've really enjoyed your videos! I noticed that your Fidelity ATP executions are quick.. usually under 1 sec. Mine take up to 3 secs. or so. What type of internet connection do you suggest? I was initially concerned my lag was due to the load on ATP itself.
Hi Timothy,
I have Spectrum internet, the higher speed package +200 Mbps download and 22.61 Mbps upload. You can check your own here for free - www.speedtest.net/ I hope that helps. Good Luck!
This video is tremendous, helped me a lot. Thanks
Hi pmp96lau
,
I'm glad it was helpful. Thanks for supporting the channel.
Actually in addition to skipping the preview you can skip confirmation as well, which I believe will give you one keystroke entry. Hit the hot key, order placed, no need to hit the "Place" key. That's why I wanted to watch this video because I'm under $25K right now and under PDT so I can't test it because I am trading settled funds and ATP does not allow you to set hot keys for Cash, only margin. Not positive but try testing that on a small lot. Setting is on the TRADE tab, last option.
Hi Glen,
Thanks for looking for ways to make things faster. Unfortunately, Skip Confirmation has no effect on the Directed Trade window and 'Place' button. It does remove a step from "manual order" entry, when you trade off a chart or watchlist by right-clicking, or when you go to Trade & Orders > Trade and open up a manual trade ticket like this - imgur.com/Q9YJFr3.
@@ThinkTradeProfit Thanks for the clarification...
Well done and Thank You.
Hi
Sac1334 c,
I'm glad it was helpful. Good Luck in the New Year!
Thanks, been wanting to set up my fidelity atp for a while.
Hi kyborg44
,
I'm glad it was helpful. If you haven't seen it, this one is good for setup also - th-cam.com/video/9p_PRqFhah0/w-d-xo.html . Good Luck!
Awesome. You would love Active Trader in TOS. You can check auto send button and that will do one click order placement. You can do bid/ask grid one click placement also. Also in TOS you have change to real time execution as by default it's 0.5 sec delayed. Perhaps that's the slippage ppl refer to? I don't know if TOS has bid/ask slippage. In that dept Fidelity is probably a winner but you can execute faster in TOS from what i see you did here with Trader Armor as u have autosend. TOS is superior platform but it's not as stable as it should be. You also have after market development with usethinkscript forum which is Fantastic. Google that forum. One thing that is still annoying and problematic that TOS will foreclose on you once or twice in a week. Could be big issue if you're in middle of the trade. I guess if someone is big amount scalper that's NO GO for them. Other then that platform is pretty good. Reason i've opened Fidelity is for otcbb free trades. TOS doesn't have that. I know Schwab does which bought Ameritrade so perhaps they will implement that and improve TOS platform. I didn't want to wait and i didn't want to open Schwab account. Anyhow. Just wanted to share. You should test it out yourself. I absolutely love TOS platform. Hate crashes. Don't like no free otcbb trades so Fidelity it is for that.
Excellent, detailed insight into TOS. Thanks for sharing this. I have been curious about the scripting potential.
Thanks for the video. Just downloaded atp. A little intimidating at first but I’m sure I’ll get the hang of it. Thanks for the video
This is helpful. I've had several trades fail to execute with clunky preview that defaults in directed trade. . . Ugh
Hi Mary,
I'm glad it was helpful. Good Luck!
Thanks for this. I learned a couple of things about how to set up my order window. I scalp options and once you execute 3 or 4 trades it gets crowded. However looking at how you sort by time stamp makes that all work. Now... can we all ask these guys to get with it on setting up Trade Armor for options?
I had changed my directed trade shortcuts to ARCX due to AUTO not working on some stocks. I just changed it back to see if I could get more price improvments.
Hi Gauntlet,
My tracking and research supports AUTO as the best, but let me know what you find out. Good Luck!
@@ThinkTradeProfit If you set Auto in directed trade; if it does not find the routes, it will be blank, then you just choose the route. It adds an extra step to the process. This varies from stock to stock is what I found.
@@ThinkTradeProfit It works auto during the Day hours, but during the extended hours you must specify a route or it will not know.
@@timetorelaxfocus9642 Yes, you are right. For Extended Hours I usually select ARCX.
Hi, You can change the setting of the trade order in the general settings so that it will place without a preview. Have you tried that? I use it for the regular order form sometimes. I am not sure if it works on the directed trade form but it's worth a try.
It definitely works for Directed Trade. Thanks!
if you want to exit even faster, just open a 'trade' small window with market ( sell or cover which ever applies to you) next to your direct trade , so you dont need to click elsewhere but instead save time to jump out of trade
@@sahar1usa Or just move to TD Ameritrade which is what I did. Never looked back for day trading.
Thank you for sharing your setup! Yes TOS is horrible in filling and lv2. Do you have an option setup videos or tips?
Hi Moe,
I'm sorry. I do not trade options very much, but I have this Options First Look in Fidelity Active Trader Pro video (if you haven't seen it) - th-cam.com/video/5KnjehXmT8c/w-d-xo.html
Not having hotkeys and single-click execution are two fairly large shortfalls for a trading platform.
Hi Living Soule,
Agreed, but their executions and price improvements are the best among the $0 commission brokers. Their customer service top-notch also. There is definitely better if you want to pay the fees. Lightspeed, Tradestation, IB maybe. Thanks for checking out the channel.
So glad I found you and your tips. How do the buttons work for before and after market hours?
You'll have to get familiar the conditions for extended hours order entry. www.fidelity.com/viewpoints/active-investor/extended-hours-trading Only Limit orders are accepted, TIF will have to be Day+, and you may need to change the Route to ARCA or REDI (I can't remember). imgur.com/G2cILDs But the shortcuts will work if you configure them that way, then change them back for the regular market open. Or you can just preload with your preferred Limit price and switch the route and TIF manually, with your finger waiting on the 'Place' button for the right moment. In any case, they will work perfectly if you change the settings for extended hours trading. Keep in mind the some of the dropdown options for extended hours trading may NOT show unless you configure them during extended hours. So, wake early on Monday 7AM ET, and you can set them up and cycle through them without hitting 'Place' to ensure they are how you want. Good Luck!
@@ThinkTradeProfit Great thanks. I still like to have the confirm button enabled as sometimes I have done the wrong stock or have screwed up on a trade. Also could you possibly do a video on how you set your charts up? I do see that you have SMA 200, EMA 20 and EMA 9 as your indicators. Thanks, Tom
Thanks for this video and your honest review before. Both have been great! I am just starting up in day trading, and am moving away from using Schwab and Streetsmart edge because of their handling of margin. Would love to see more info on how you set up your custom buttons, and how you have your trading screen set up. Thanks again!
Thanks Jonathan! That's a good idea for a video, the "how and why" of my current setup. I'll get to work.
I created a new video about my current layout and shared my custom buttons settings near the end. I hope that helps! th-cam.com/video/9p_PRqFhah0/w-d-xo.html
The buttons are better than key shortcuts because my typing accuracy is terrible.
Awesome video! Your setup is very useful. I just began taking FATP seriously after trading high volume equities. Do you have any books you would recommend on Day Trading, Scalping, Shorting, etc?
Hi Rarig,
Thanks for the support! I would recommend 'The Playbook' by Mike Bellafiore and 'Advanced Techniques in Day Trading' by Andrew Aziz.
Hi Ken, Can you teach us how you arranged the screen(Left side candle sticks) the way you did that is very helpful . Directed Trade seems like only available when market is open. Can I pre configure it when market is closed?
Hi
Laxmikanta Dash,
You can change the settings in Directed Trade but you can't see your work until 7AM ET. To change those settings go to Settings > Directed Trade > then General or Stock Shortcuts. imgur.com/1OpnU0F To adjust your chart Settings, right click on any chart and select Settings. My Chart Settings look like this - imgur.com/j7MirOl And remember that you can "float" most windows outside of the Active Trader Pro green "frame". This way you can arrange your main monitors with charts and windows that you use most, just right click on them, select 'Float Window' and setup all your windows and charts how you like. imgur.com/Mewaoo3
Great Video! Thanks!
Is there a way to set up the shortcut buttons to use a CASH account? For some reason when I set up the keys and then click the button it automatically diverts to Margin and I have to switch it to cash every trade.
Hi Martin,
I'm not certain and all my accounts are margin accounts so I cannot test this theory, but try this:
1. Ensure the account you want to use as a CASH account is set in Settings > General > Default account
2. Ensure the account you want to use as a CASH account is set in Settings > Trade > Default Trading Account
and then try again. I am not aware of any other settings that would affect this issue.
imgur.com/SnwT5ug imgur.com/uMR70Oj
Cool vid thx
Hi FaReal WitIt
,
I hope it helped. Thanks for the support!
Hello, great video. But I am wondering if I can use a keyboard shortcut (i.e. ctrl+s) to place a order to close position (all shares with market order)?
Hi Polaris,
Unfortuantely, Active Trader Pro lacks hot keys and keyboard shortcuts. The absence of hot keys is definitely a pain point. I've stuck with Fidelity through these issues as I grow my account. I truly believe they are the best of the $0 commission brokers for speed of execution and stability. For me, with Fidelity, I know I am going to get filled when I click and I know my orders will be cancelled when I cancel. The price improvements are exceptional as well.
Great video. Subscribed
Thanks for the support, Jarrod!
Hi I’ve really enjoyed your videos. I’m using buttons as you’ve set them up. I realize I can quickly use the appropriate button to exit at market price. I’ve been stung unfortunately when there’s a quick reversal despite my quick reflexes. Adding stops after the buy order is placed is cumbersome. Other than using Trade Armor do you have a faster way to enter stops when scalping? Thanks
Am moving back to Fidelity, Schwab is starting to have problems, sometimes you can’t cancel your order, they don’t show when filled and no notification, it took like 20 minutes for notifications to start it cost me like 1000 loss
Hi Japheth,
I totally understand. I have a second account at TD/thinkorswim and have never used it seriously because of those same issues. With their merger with Schwab, I do not feel like they can handle more people on the platform.
instead of clicking on the buttons can you use the actual key like ctrl+B buys 100 shares at market and Ctrl+S will sell your 100 shares on the market vs. clicking twice.
Hi Mauri,
Unfortunately, Active Trader Pro does not have any hot key functionality. There is a rewrite in progress (I heard from the development team), but it could be a year before we see more features. I tried to create my own hot key functionality using AutoIT and AutoHotKey with some scripts running along with Active Trader Pro, but it felt too slow.
@@ThinkTradeProfit thank you Ken, is there a video that shows how to move your stop loss on the fly during live trades?
Do you ever use the Buy Stop order for entry? Like if there is several candlestick consolidations and you expect it to break above the resistance, and you want to place an entry trigger above that resistance beforehand? and if you do, do you recommend a Buy Stop or a Buy Stop Limit?
Hi Jin,
I don't use Buy Stops that often, but I have complete confidence in Fidelity's executions in fast markets. I would use a Buy Stop in most cases (except for trades in TSLA, AMZN, or others where price can skip whole dollars or more). A Buy Stop is essentially just a market order to buy when price trades at a certain level. I've executed so many market orders over the past year on my exits that I am very comfortable with Fidelity's executions. Use a Buy Stop and an appropriate Stop Loss when trying to catch breakouts. A Buy Stop Limit may cause you to miss some of the most profitable trades.
Great video man! 👍 I'm with Think or Swim right now but Im about to give ATP a try. You don't use TOS?
Hi Rick, Thanks! No, I have not used Think or Swim (yet). I have been wary because of some of the issues they had in early March and other times. Lagging quotes, problems in fast markets, and things like that. Execution speed and quality with accessible customer service is really important to me. Fidelity has not disappointed me in those areas.
@duchess eagle Hi Duchess Eagle, Good question! I found their website for Canadian investors. www.fidelity.ca/fidca/en/home I can't find a mention of Active Trader Pro there. Might be worth a phone call, perhaps I'm not looking in the right place. Take a peek.
Thank you.
Can you set this this up to buy and sell options quickly? Thank you for the video
Yes! The only part that needs preparation is the option trading symbol. There are shortcuts available specifically for options. I suggest building a "pinned" list to a chart (and it will be shared with Directed Trade winow) to quickly populate the Directed Trade ticket with the option ticker. See the options shortcuts tab here, Settings > Directed Trade - imgur.com/xDe0hlh and the pinned list of the options you trade the most would appear in the Chart and Directed Trade like here - imgur.com/aHa2K9O Good Luck!
Also, not sure where you set the option for this (might be by selecting the "Status" option on the Orders setting tab, in the middle on the far right side?) but on my Orders Window, when YOU right clicked to cancel your order, my screen has a visible two button setup showing directly on the order. The buttons look like your custom hot key buttons. One for "CANCEL' and the other right below it "CHANGE". One click and it's cancelled. Don't have to right click and take a second to find the cancel or change option. One click and a populated Direct Trade Change Ticket comes up.
Thanks Glen, I think those were added since I created this video. I have seen them recently as well.
I have been using Fidelity for a long time but thinkorswim is way faster and better for fast trading.
thinkorswim has some very good features. I have a second account there, but their stability is terrible. So many issues with cancelling trades or delayed executions have happened repeatedly this year. I can't count on the platform (yet).
I tried creating a buy to cover market hot key, have market selected for order type in settings, but it's blank when I go to execute trade and only gives me a limit option in the drop down. Is there another setting somewhere I need to change? Thanks.
Hi mrredbeerd, A couple of us in our community have seen that error recently. I actually reproduced in another video here - th-cam.com/video/wXPKXDEtxCo/w-d-xo.html Restart the platform is easiest, then check the shortcut again. My belief is that sometimes (for some reason) the Directed Trade window still thinks it's in a state of premarket and market orders are not allowed in premarket only Limit. I usually open my platform early in premarket, and this does not happen all the time. Best thing to do is to cycle through your shortcuts and click each and ensure they populate the order ticket as they should after the market opens at 9:30 ET.
@@ThinkTradeProfit Awesome, thanks for the info. Glad I'm not the only one with this inconvenience.
any idea on how to remove the preview button? i setup my short cut keys but i have a preview button
i got, its in settings. thx
@@pmp96lau Exactly. Settings > Trade > Skip Preview Good Luck!
So Active Trader Pro doesn’t have a one click buy and sell feature by clicking on the bid ask table like how TOS does?
No. Two-click is the fastest, but you can preload with the next order you intend to send and hover over the place button. Essentially one click in that case. The upsides are that Fidelity doesn't sell their order flow, price improvements come to you, uptime is much better that TD Ameritrade, executions are excellent, and no silly issues like you can't cancel orders, or receive late fills, or can't buy stock at the open.
@@ThinkTradeProfit yeah I can use hot keys and such and hover over the send button. I use Street Smart Edge from Charles Schwab, and it’s not that great. I use a Mac so SSE is server based on a mac. Laggy. I signed up for Fidelity today. Active Trader Pro is definitely a whole lot better than SSE. Much faster and better interface. Will be using Fidelity now. Thanks for the good videos. Not having your order sold is good. SSE only lets you sell smart orders, which I think it’s just like Auto on Active trader pro?
Awesome video. I didn't even know the buttons were available. Is it possible to customize the button to 1. Sell Half and 2. Buy At the Ask + .05?
Hi Renee, Thanks for visiting the channel. 1. Sell Half - you'd have to create a second custom button for selling with the Quantity set to whatever size is half your normal. I just manually change this when I want to sell half. Hit your normal sell button, it fills the ticket, then adjust quantity, then Place. 2 Buy At the Ask + 0.05 - Yes! Change the Limit dropdown when you create a button to 'Above the ask' and add the amount. imgur.com/4jbSTFi
Really well done execution video (glad you made money while showing the capabilities). TOS has the order bracket for Level 2 ladder. It seems that Fidelity Active Trader Pro does not offer it. Am I correct? Thanks.
Hi Jonathan,
Thanks for the positive feedback. Unfortunately, Fidelity Active Trader Pro does not have a Level 2 ladder like thinkorswim. They do have bracket orders (entering and moving a profit target and stop loss) which can be used in Trader Armor or entering orders via a Conditional order. If you are a very fast scalper and rely on these in the TOS ladder, you may be disappointed in Fidelity's order entry offerings. I hope that helps. Good Luck!
How do you make it so when you click on the bid and ask table the amount of shares that the price you click on doesn't load that share amount for that bid/ask into your share window? If i don't want to type in the share price, i want to click on the bid and ask prices, but don't want that bid or ask share amount to get loaded into my share amount window. Just loading the share price? Schwab does this. I cannot figure out how to do this with Fidelity. Can this be done?, or is it just the max share amount in settings that you set?
Hi Nate,
You can create stock shortcuts to specifically Buy or Sell At the Bid or Offer (or with some price above or below). That is how I set my Buy / Sell at Bid / Offer. Even with the shortcut keys you'll have to define some start share size. It is set at the Limit level when setting up the shortcut (At the Bid, At the Ask, Below the Ask, etc.) This is an example of a Short Sell setup .01 below the asking price. imgur.com/1OpnU0F
Do you use Market BUY orders or just LIMIT orders for when you BUY
Also is 2000 share BUY MARKET order on a Stock like MU or INTC or AMAT ..( SEMIS) hard to get filled with a good Spread ??
Ty
Hi Rob,
It's tough to get filled on a very active stock with high volume (MU, INTC, AMAT) unless it trades through your Limit Buy price, meaning there is that 0.01-0.03 drop (for a Buy Order). But if you do get it and it's doesn't drop much initially, you can always tap out (Market Order) at the bid flat or with little loss at any time. The algos will tend to jump in front of you , sometimes, for even small order sizes (400s), but I almost never put out more than 1,000 shares on the Bid when looking to Buy. Market Orders give pretty good fills through Fidelity's price improvement, and I do use (more rarely) when the setup looks really good and I expect a larger move. So, to answer your question, I use both, but for short-term small scalps, I use Limit Orders. I I think I'm going to hold the trade longer than 15 minutes and it looks like a good setup, I'll use a Market Buy if the spread isn't too wide. I hope that helps. Good Luck!
Have you heard of any bad experiences from Active trader pro. I heard many stories of extreme lag from thinkorswim and i heard of shutdowns on robinhood. Any from Active Pro Trader?
Hi Abhiram, Nothing like what thinkorswim or Robinhood users have experienced. I have used Fidelity Active Trader Pro full-time for 5 months and part-time for more than a year before that (30 trades a day or more). I believe it is the most reliable platform in terms of stability and speed of execution of all the $0 commission brokers. I used Schwab a few years ago as well. Thinkorswim has a lot more in their user interface, but there dependability during fast markets or the first few minutes of the day is questionable. No one should be using Robinhood anymore with so many full-service brokers that have gone to $0 commission and their multiple day outage in March 2020.
Just subscribed. Great videos! I trade a pretty similar style to what you're trading in this video, although I'm typically trading lower priced stocks $1-$5. I'm addicted to TOS's hot keys, but I'm being killed by TOS's sale of order flow. Because of the sale of order flow I'm strongly considering jumping to Fidelity, but do you know of any way to set up hot keys? I don't know if I can trade without them at this point. I'd also love to know if on the Active Trader if I can click the button several times once it is set? If so, I can probably adjust and just do everything with my mouse.
Hi Anthony,
There are no hot keys unfortunately, but I know you can adjust, because I have. The Price Improvements and fills from Fidelity are so much better. You'll be fast enough with the mouse. Get familiar with all the possibilities with the stock shortcuts from this video. (Buy below the bid .01, .02 or Sell Above the Bid/Ask .01, .02, ...whatever you need for your style). You should also watch my Price Improvements video - Fidelity | Stock Trade Price Improvements - How much $$$ can you make? th-cam.com/video/YfM_OW7TSkI/w-d-xo.html I don't trade low prices stocks, but i do compete with algos in stocks like FB an PYPL. For my scalping, I usually enter trades with a Limit Order and exit with a Market Order. The fills are that good with Fidelity that I can trust them with Market Orders even in fast markets. +70% of my Market Orders get Price Improvements.Obviously, using only Limit Orders to enter, I miss entries, but that's OK, because my risk is so much less. If I Buy at the Bid and things don't move my way immediately, I can tap out at the Bid with a market and often get Price Improvements. It's going to feel painful at first (I have a second thinkorswim account), but give it some practice and keep track of your price improvements in the stocks you trade. Make adjustments as necessary. Good Luck!
@@kimbuck-2 Hi KimBuck2,
It shouldn't happen (often), but it can happen. Consider your bid for 1 share, which you entered at a specifc time. There could have been other bids (orders) entered at an earlier time in the order book. Imagine If you were "in line" to buy 1 share and there were was another person "in line" ahead of you (on the bid) to buy 500 shares. Then someone, somewhere, puts in an order to sell 100 shares at the market (on the bid). The order routes to the marketplace and that someone sells 100 shares on the bid. The orders in the order book that were ahead of head of you get executed first, and they only get a partial fill (they bought the 100 shares). At the same time, bids come in +0.01 above your bid and then more bids start stacking up even higher as the stock moves higher. The stock traded at your limit price (for 100 shares), then moved higher. You can always check the main nav 'Quotes & Watch List' > Times & Sales , then enter your ticker and review the trades. See my example with MSFT here - imgur.com/v2mBo0f . Imagine you had a limit order to buy 1000 shares of MSFT at 251.51. Look at the second entry down, MSFT traded 100 shares at 251.51 (Last Price), then started to move higher. It could've been the same market situation you experienced. I'd have to know the stock you were trading. It is possible that your stock was NEVER offered at your price (the national best offer), but some market maker somewhere, executed a trade as it traded down or through your limit (bids went lower, but the offers did not, the spread widened)
One other thing you can do, is use ARCA for your Limit Orders, then they should definitely be shown in the order book on your screen and everyone can see. I play in the quotes sometimes with stocks that have a wide spread to see if I get "hit". You are right though, for 1 share using AUTO routed limit orders, they might not be required to "show your quote" in the best Bid or best Offer order book. I hope that helps. Use 'Times & Sales' as I showed above. I trust Fidelity. I have received so many price improvements and executions between the bid and offer than don't happen with any other broker. If you trade stocks with wider spreads, and use market orders, you can get some really good fills in fast markets. Good Luck!
Do you do short selling on fidelity? What's your experience been like if so?
Hi Isaac,
Yes, I actually Short stocks more often than I Buy, which of course has been more difficult this year. The executions are very good with Fidelity. Many price improvements (better than the current bid or ask) when using market orders. You might want to check out my Honest Review of Fidelity if you haven't seen that - Remastered with Improved Audio here - th-cam.com/video/QDNy64dvSgA/w-d-xo.html and some of my Live Trading scalping here - th-cam.com/video/sFSEenxtSq0/w-d-xo.html
I don’t do limit orders I get in and out asap. The problem is the profit and loss won’t catch up. Balances won’t connect till about a minute after trades?
Why?
Hi Mayday,
It wasn't always so slow. I do the mental math for my trades for P&L during those times. Try keeping the web app open in a browser on the side and refreshing the Balances page. I hope that helps. Good Luck!
Is there a setup on Active Pro to be able to sell the same stock I own in different accounts at the same time?... I thought I saw a video about the ability to do that and can't find it anymore. I always buy the same stock in a few accounts and have to enter the buy/sell manually on each accounts which is time consuming. I lose profits at times from having to go into each accounts to execute my orders.
Hi DMLK CS
, Thanks for checking out the channel! I think the best way to do this is, Trade & Orders > Multi-Trade, you still have to setup the orders. but you can trigger them all at once. screen capture example - imgur.com/yzoh0SS
Thank you so much! That is what I had seen and was looking for. I really like your setup and will set mine up like yours. I really like trading with Fidelity, been with them for over 15 yrs. The only thing missing on Active Pro is the Heikin Ashi candles. The program would be perfect if it had those. Thank you again for your help! New sub 👍
Awesome video thanks so much! Is this an upgraded version or can I access this from my standard fidelity account once I open it? Also is there a time delay on market data?
Hi Rohkani, Active Trader Pro is now free for everyone with a Fidelity account. If you want to poke around before your account is setup, try this demo download. rewards.fidelity.com/RFI/signup/active-trader-pro-demo There is no delay on market data, it is very fast and reliable. I think the best among the $0 commission brokers. When you are setting your Active Trader Pro just ensure you go to Settings > General > and set Market Data Update Frequency to Streaming (screen capture - imgur.com/CBnwDDd )
Think Trade Profit awesome I opened up an account today hoping to get rich Monday lol
how do you close spread strategy in active trader pro in single ticket?
Hi spat_P,
I don't trade spreads much. I'm not sure how to close in one single ticket if you created it "manually". If you can find the spread here - researchtools.fidelity.com/ftgw/mloptions/goto/optionPairingResult Then you could grab the symbol for the spread and use in a single ticket or Directed Trade. imgur.com/ihybkVX
hey buddy, any tips on how to pick stocks/fast markets? there's so many to sift through but i want to be better at finding them myself instead of relying on forums and stuff like that. thanks much
I like stocks that gap up or down more than 3%, trading higher volume, and at higher price ranges (I don't trade small caps). I use the free version of this tool - th-cam.com/video/wrpy6DX4LpA/w-d-xo.html Even with the 15 minute delay, it is very powerful. All the watchlists can be customized, and I refer to it throughout the day.
@@ThinkTradeProfit thanks a lot buddy, i really appreciate your prompt and helpful reply. i unfortunately listened to the wrong people and am in the negative with GME. so i'm trying to do a financial clean-up. i'm a little depressed but trying to stay positive.
SUPER HELPFUL. I am really comfortable on ATP and was looking deeper into other platform for hot keys. But this is just another click. 1 question please, i'm making custom tabs on the direct trade like yours but on the "order type" drop down menu it only shows none selected. I want to choose market. is it because market is closed? Doesn't make sense. I'd be grateful if you know why. Thanks!!
Ok, i read below I should restart. let me try that first. thanks! It didn't work, could it be because it's weekend, and I can't customise that while market is closed??
Hi Jeffrey, You are exactly right. It's because the market is closed. The best time to set these is after the market open at 9:30 EST. You can do some setup in premarket after 7:00am on Monday, but only Limit orders will be available then. (There are no market orders in premarket). Just set aside a few minutes in the morning after market open and everything will be available. Then cycle through them without hitting 'Place' and check to make sure they populate the Direct Trade window like you want.
@@ThinkTradeProfit Thanks so much for your reply. I'm watching the rest of your video now! You helped me so much, I'm keeping ATP. You showed me how to speed it up. thanks a lot! and best to you!!
@@ThinkTradeProfit And of course I must get rid of the "preview"
How can I set a hot key to buy above the Bid?
Hi Jay Son,
Go to Settings > Directed Trade > Stock Shortcuts tab > then create a shortcut similar to this - imgur.com/XGoluPw For the Limit Price, select 'Above the Bid', then put whatever range above the bid in the 'by $' amount field. In my example, I'm willing to Buy above the bid +0.05. I hope that helps. Good Luck!
How do you deal with wash sale if you sell at lost as day trader?
Note: This not tax advice, always consult a tax professional. The Wash Rule is so misunderstood and scares so many people. It was put in place to prevent people from selling at a loss (and deducting capital losses on their taxes), but turning around and buying back what they sold within 30 days. This is a good primer on understanding it - www.schwab.com/resource-center/insights/content/a-primer-on-wash-sales#:~:text=The%20wash%2Dsale%20rule%20was,or%20after%20the%20sale%20date). My simple explanation: You only have to worry about it if you are trading the same stock or substantially similar securities and take a loss near the end of the year, then turn around buy the equivalent position back, AND hold it into the next year. Other than that, it doesn't matter. You can't avoid wash sales. They look really scary in your statements and in Active Trader Pro, but they are nothing to worry about. Every time you trade the stock again, the wash sales loss is applied to the basis of your next trade. You aren't hurt by a wash sale. You aren't losing anything. Fidelity reports all of them to you, and they import easily into popular online tax programs like HR Block and Turbo Tax. If you have a bunch of wash sales and you don't trade the stocks again this year, it's OK. If you have a bunch of wash sales, and you trade the stocks again, but get out of them before the end of the year, that's perfect..
Is there a way to set it to sell 100% of the shares you own of a stock instead of having to manually type in the share about?
Hi ir0bo,
Unfortunately, there is not a way to do this with Fidelity. There is not a default button or shortcut that signals 'sell my whole position'.
@@ThinkTradeProfit thanks
Thinking of moving full time to Fidelity. I opened an account and am trying to figure out how to "save" an order layout like in TOS. There I can create an Iron Butterfly with 50 point wings and save it. Then, anytime I want to create that trade, I go to the SPX option chain and choose "SELL CUSTOM" and there is the trade structure I created, "Iron Butterfly 50 Wide" and with one click, the order is ready to enter. Can Fidelity Active Trader Pro be set up that way?
Hi Marc,
There may be an easier way to start that trade in Fidelity, going to Options > Options Strategy Ideas, but I can't see too much on my accounts. I only have Options Level 2 (so this dropdown has limited choices). imgur.com/QD8m91X I don't trade options much. There may be something to do in Directed Trade, but I'll have to look during market hours. It is not accessible right now. Hang in there and let me research a little.
I rolled over my 401k into an IRA years ago before I got into trading. Now I have some limitations that restrict me. One example is I cannot use a bracket OTOCO order with Market Buy must be a Limit. I noticed other platforms have hotkeys and a button to "Cancel All" orders. How do you work around these limitations with ATP in Fidelity? I have noticed others suggesting opening an account with another broker that offers synthetic "practice" trading in addition to use hot keys, making it easier to get in/out. Any opinions or advice on this? Thanks
Hi Vote Gauntlet, The absence of hot keys is definitely a pain point. I haven't heard of your issue with only Market orders allowed with OTOCO's. Are you trying to enter in premarket? (then it would make sense, as only Limits are allowed there). 'Cancel All' is one I wish he had as well. The truth for me is that I struggle through the lack of these options with speed of mouse and clicks. I've stuck with Fidelity through these issues as I grow my account. I truly believe they are the best of the $0 commission brokers for speed of execution and stability. thinkorswim is out (I have a second account there, and there have been too many issues there this year). I think Lightspeed is good if you are a day trader/scalper, but there are fees and commissions. I guess you have to ask what is most important to you. For me, with Fidelity, I know I am going to get a filled when I click and I know my orders will be cancelled when I cancel. The price improvements are exceptional as well. I hope this helps you think through what is best for you.
@@ThinkTradeProfit Thanks for the reply and feedback... I'm in an IRA and they do not allow Buy Market in an OTOCO, but I can use Buy Limit. Fidelity has great support but I think I will additionally open a free TD Ameritrade 1) TS has a simulator to practice in 2) TD looks like it has more of what I need specific for this type of Day trading (I can just roll over a few dollars if needed). Here's a Fidelity example using trade armor and trading a premarket gapper like CBLI which is gapping this morning ~4.27 from current 2.17 . If I open a OTOCO with BUY Limit 4.26 Top SELL +10% Trailing stop @ -10% The orders appear off the screen. I would have to change chart time to 6 months even to see it which is not useable. I told Fidelity and they will suggest a change, however I really need something I can use now. The using a limit order vs limit in a bracket is not a huge problem, visibility is more important. Lightspeed and esignal are great, just going for the comision free platforms for now.
@@ThinkTradeProfit Update: after calling TD Ameritrade I realized I am forgetting to have enough in a 2nd account to day trade. I do not so the point is moot. I will continue using fidelity and try to improve my existing strats.
how do you place stops and sell without having to cancel the stop?
I do not think you can, but there are way to make the process fast. If you need to make changes in fast markets, then
1. Create custom Directed Trade Stock shortcut "button" with your Sell Stop Market order and set the limit price (away from the bid or ask you want it to execute).
2. Then enter your position however you like, immediately following with your Stop loss order using the custom shortcut (Now you are protected).
3. Go to the Order window, select Cancel and Replace, and queue up the change for a market order. This can be done immediately and it is placed in the Directed Trade window, but do not hit 'Place' until you want to exit at the market. It will cancel the Stop loss protection and execute your market order.
4. It about 3 clicks and you can wait to execute the market order while being the protected the whole time.
If you do not need super-fast changes during busy markets, you can enter bracket orders in Trade Armor and then just use the sliders in that window to adjust your initial stop loss to the current market price. imgur.com/fvM0foj www.fidelity.com/learning-center/tools-demos/active-trader-pro-platforms/trade-armor-active-trader-pro-video
TOS definitely has delays especially at the open. Ive recorded many trades where market orders took forever. Then id report it and they would refund money to me after seeing the recording. I just dont trust that platform at all and think shady stuff goes on behind the scenes. Level 2 and Time and sells is garbage too
I agree. I have a second account at TD/thinkorswim, but I don't use it for fast scalping. There are too many issues.
What is the button for market orders. I don't see it on the new version of Fidelity?
Hi Jeff,
Not sure if you're referring to the Stock Trading Shortcut buttons that you create yourself for Directed Trade or the Market Order dropdown in Directed Trade. imgur.com/t8peHvu imgur.com/H8s9Prb To setup the Directed Trade Shortcut for a Market Order, go to Settings > Directed Trade > and then build something similar to this - imgur.com/t8peHvu I hope that helps. Good Luck!
I had to change it to sell short then pick market then back to buy to see market. Now have to wait to test on open hours. Thank you. Guessing a little bug.
can you place an order with stop loss in direct trade?
You can place Stop Limit, Stop Market, and Trailing Stop orders for ($ or % amounts) in Directed Trade. You can enter them manually or setup shortcuts. imgur.com/d8vRgUA
Hi Kent. Thanks for the video. Is there a way to add offsets to your limit orders? Thank you!
Hi TK SNO
,
Yes, in Directed Trade (you won't be able to access until 7AM ET). Settings > Directed Trade > Stock Shortcuts tab, then create a shortcut that is a Order Type 'Limit order', then you can see the choices in the dropdown at Limit and the offset to the side. In my example, imgur.com/AONsqCL , my BUY BID sends a Limit Buy Order out at .01 above the current bid.
Thanks for supporting the channel!
@@ThinkTradeProfit Amazing! thanks for the help!
is50 EMA similar to VWAP i heard Fidelity doesnt have VWAP on chart, which is what i use on TD
Hi John,
No, they are not even close to the same calculation. It's true, Active Trader Pro does not have a built-in VWAP indicator for charts. You can add the value to Watchlists, so with all your favorites, you can know the numerical value for VWAP at any time. I use a free account at tradingview.com in a browser on the side. They have a good VWAP indicator. It's manageable, as most of the time you want to know if price is under, above, or boucning off VWAP. imgur.com/bJU327I
@@ThinkTradeProfit I use TD, i scalp trade i dont short stocks, i basically look for Dips and runners, mostly OTC, im doing OK but the fees are crazy and fidelity doesnt charge fees for OTC stock which is huge, sometimes i can make $20-30 but after $14 for the trade i always tend to hold a bit longer and get burned, trying to learn this platform for scalping OTC's
@@wgwrigel1 I totally understand. Those fees are too high. The Fidelity platform could use many improvements but with practice you can scalp fast. You should also see many Price Improvements on your orders if you use Market Orders on entry or exit. (Price Improvements come on Limit Orders also but not as often). Good Luck!
The directed trade window - does it not even open if the market is closed ? I can't seem to open it now
Hi RawTrades, Thanks for visiting the channel. Unfortunately, you are probably seeing this imgur.com/De1qJUY. You won't be able to see the Level 2 quotes and the action until 7am on Monday.
This was very informative. Thanks, didn’t even know what Directed Trade does. I’m seeing that ATP is much slower than yours on my MacBook Pro. Highly optioned. Any suggestions?
Hi David, Thanks for the positive feedback! Check this first, Go to Settings > General and look at Market Update Frequency to ensure it is set to Stream (screen capture - imgur.com/CBnwDDd ). I haven't had much feedback from Mac users, but it seems most have had success on Catalina with ATP.
@@ThinkTradeProfit Thanks for the tip. Yep get frequency set to Stream and using Catalina. 2.6Ghz 6 core i7. 16GB RAM. Late 2018 model. Really surprising that it is so slow. Almost missed a high this morning coz it wouldn't take my "Place Bid" click...
@@DavidSL64 Your system specs are more than good enough. I've run it on Windows i5 with 8GB RAM and integrated graphics. I fear it is something with the Macintosh implementation maybe. I see some unfavorable stuff here from a couple months ago. www.reddit.com/r/Fidelity/comments/gav7n0/active_trader_pro_mac_version_having_problems/ Would you consider running a Windows Virtual Machine on your Mac? I wonder if it would run better? I think your system specs are great.
@@ThinkTradeProfit Thanks for the link to that article. I talked to Fidelity tech support twice today, and they gave me some ideas for improvement. I run two screens, and so one theory is that my 4GB VRAM is shared between the two screens. So I rebooted with just one screen. I think it ran better, but I still don't think it ran as well on my Mac as it did on my son's Windows machine. One of the tech-support comments was "we hear that is generally the case - that ATP runs better on Windows". I'm going to try one more session tomorrow, and if it still doesn't feel right, I think I am investing in building a windows machine. As you know, speed is very important.
What does the Max Book Quantity do in Directed trade?
Whatever share size you set there will be the max share size populated in the Directed Trade window IF you click within the Level 2 window on a bid/ask price to populate an order. For example, you click on a bid price in the Level 2 window where 500 shares is bid. if you have your Max Book Quantity set to 100, it will only populate the the share size in your Sell Order in Directed Trade for 100 shares. imgur.com/JxaM1VC
@@ThinkTradeProfit Oh, that makes sense, thanks for the clarification.
Awesome video. I want to leave Schwab because of terrible lag at the open. I'm strongly considering Fidelity only thing is I scalp options. Do you have any resources for me to check out so I can familiarize myself trading options fast on this platform? Thank you so much!
Unfortunately, I don't have options enabled on any my accounts. I think you would want to use Directed Trade for Options as well, as you just watched in this video. There is a write-up about the possibilities here by Fidelity - scroll down to the 'Directed Option Trading' section, 3/4 of the way down the page. You have the ability to use/create the shortcuts for options too. www.fidelity.com/products/atbt/help/ActiveTraderTools_Trade_Help.html#directedtrading I don't have much that I created myself other than the peek at Options Chains in the Trade Armor video - th-cam.com/video/V4mLwwJrPiU/w-d-xo.html but I don't use that for quick trades.
Think Trade Profit ahhh perfect! I really appreciate it! Thanks for your efforts much appreciated.
Think Trade Profit I just read that link you sent. Very helpful. I’m excited about the possibilities. Thanks again, great videos. You got a new sub for sure
@@anniepadilla1327 Thanks Annie! I appreciate the support.
I was just wondering, for the past two days the Level 2 tape doesn't have green and red colors anymore (only white). Does anyone else have the same issue?
I heard from some others in our channel community that Fidelity admitted to mistakenly removing those colors (or creating a defect). Supposedly, they will be replaced in a update.
@@ThinkTradeProfit thank you for your reply. I hope they fix it soon.
Thanks for the video. That seems kinda slow though. With TOS I can and do execute orders much faster. It's not uncommon for me to hit the buy and sell button 10 times in 5 seconds. You can't do that here. Unless I missed something??? Or if that can be done on fidelity please share with the class.
Hi Josh, Thanks for visiting the channel. I agree, it's not perfect. I recently opened a second account at TD Ameritrade to peek around, but the stability issues are huge negative for me.
For what it's worth I use Autoit to code hotkeys for the TOS interface and it allows me to get in and out of trades very fast. I opened a Fidelity account today. I'm gonna see what I can do to make it faster because I would like to trade there while using TOS charts. Thanks for the reply and keep up the good work.
My productivity on Fidelity ATP has significantly improved after watching your videos on ATP. On the Directed Trade Window for Stocks - I am not able to configure a market order. i.e I configured one of the buttons for Buy 200 MKT and Route Auto. When I clicked on this button - Everything is loaded up correctly - except the order type and I only see a limit option there. Can you not do market orders using Directed Trade Window ? Thanks
My guess is that you were trying to do this setup during premarket hours (before 9:30am EST). The dropdowns change when you enter regular market hours. I don't think the "Market" Order Type was available because during extended hours you can only enter Limit orders. Try it again. imgur.com/m4URd39
@@ThinkTradeProfit It works now. I guess I opened the window during pre-market hours. Its working fine now
Hey - when I go to place an order on the directed trade window and click 'Place', I then have to click another button for confirmation before the order gets executed. So its three clicks instead of your two. Do you know how to remedy this?
Hey S B, You need to go to Settings > Trade > General and select the checkbox that says 'Skip Preview' imgur.com/Fy9CgBn
@@ThinkTradeProfit Great, thanks very much
I am going to try this tomorrow - thank you! Also, I haven't tried OTOCO yet (www.fidelity.com/learning-center/tools-demos/active-trader-pro-platforms/placing-conditional-orders-active-trader-pro-video). Would appreciate your thoughts on pro-con of the 'buttons' vs an OTOCO for scalping. Always looking for ways to improve! Thank you.
Hi Melissa, I think OTOCO are a great option. I haven't used them much because I have had a good experience of closing my orders when I want/need with market orders (and I don't initially set price targets). OTOCO can still be very flexible. If I were to use them I think I would have the OCO order price target farther away from the current market and have the Stop Loss where it makes sense for my system. Then you can always Cancel & Replace the the Price Target part of the OCO pair with a market order, having it queued to be ready for when you submit. With this, you have the Stop Loss side the whole time for protection and it is cancelled if you choose to exit at the market.
7:13 how do you place your order right away like that without having to preview your order first?
Go to Settings > Trade > then select skip Preview screen capture - imgur.com/Fy9CgBn
So you can just cancel if the trade isnt going your way and not lose money)
Hi Isaac,
You can only cancel orders before they are filled. If you're in a position that is not going your way, you can get out quickly so you don't lose too much money. With $0 commissions and Fidelity's fast executions, you can change your mind if a trade is not working out. Thanks for supporting the channel. Good Luck!
Hey How do I get level 2 quotes for active trader pro?
Hi Elliot, Thanks for supporting the channel. Go to Settings > Directed Trade. You need the Directed Trade Window open. Unfortunately, you won't be able to see any action until 7AM EST on Monday. screen captures - imgur.com/3XRddxB imgur.com/De1qJUY
@@MuhammadAndKarisha I'm sorry, my mistake. Go to Trade & Orders, then select Directed Trade & Extended Hours from the dropdown. imgur.com/aI3nIqE
where on the platform can you see the float and volume ?
Volume stats can be found by using 'Quotes & Watchlist', Select 'Quote', then enter your symbol, expand that window. imgur.com/S4QsNwd You can also add 10-Day Volume and 90-Day Volume as a column in any Watchlists. I haven't found float easily. You could use the free version of trade-ideas.com (see my video - th-cam.com/video/wrpy6DX4LpA/w-d-xo.html ) Select 'New', then 'Single Stock Window' , enter your Symbol. Their data is excellent. imgur.com/TveNP9D
@@ThinkTradeProfit thank you sir... i will watch ur videos.. i made 200 dollars today lol
how do you make all those screens to stay on your screen.. i do have the fidelity active pro and i can put all those screens on my screen but every time i click out of the page they go away.
Hi Edvin, Thanks for visiting the channel. Hard to say without seeing your layout, but I float all my windows outside of the Active Trader Pro green frame to one monitor for my layout. I keep the Active Trader Pro green frame on a different monitor. Try that.
imgur.com/Mewaoo3 my second monitor - imgur.com/nAQO3jR
@@ThinkTradeProfit Thank you so much i think thats the way ill try it today.. thanks for the advice and good luck today on ur trades..