![]() ![]() You may lose all or more of your initial investment. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Trading any financial instrument involves substantial risk of loss and is not suitable for all investors. Nothing contained in our content constitutes a solicitation, recommendation, promotion, or endorsement of any particular security, other investment product, transaction or investment. TexTrading, LLC is not in the business of transacting trades, nor does TexTrading, LLC agree to direct your brokerage accounts or give trading advice tailored to your particular situation. TexTrading, LLC does not provide investment or financial advice or make investment recommendations. You can reference this page here for where to find resources for specific platforms and trading tools.Risk Disclosure: Neither TexTrading, LLC or any of its officers, directors, employees, other personnel, representatives, agents or independent contractors is, in such capacities, a licensed financial adviser, registered investment adviser, registered broker-dealer or FINRA | SIPC | NFA - member firm. We also provide several hotkey files that can be installed in Lightspeed, or CMEG as a Sterling platform. This will help you automate the process of taking these trades.Ħ) Ross discusses the details of using hotkeys, and reading level 2 as part of chapter 6 of the Day Trading: Strategies & Scaling C ourse (Part 1). If the stock goes up, he will take profit 20-40 cents up, by selling with orders on the Ask price.ĥ) As part of our trading simulator, and even most live trading platforms, you can enter with hot keys, set stops, and set profit targets. If the level 2 looks good he will take an entry on the ask.Ĥ) After he enters positions he does not set automatic stops, although many traders do and that’s okay too! Instead he uses a “mental” stop of 10-20 cents, and will sell if the stock drops that amount by selling with an offset 5 cents below the current bid. ![]() Once he has identified his entry, he looks at the level 2 to see if there are a lot of sellers on the ask (this is resistance). You can see an Excel list of his common hotkeys here: ģ) When Ross is about to take a trade, he first is watching the chart for a clean setup (Bull Flag, etc). So for example, if the ask is 5.10, his hotkey will automatically send the order at 5.15. He sends the order with a 5 cent offset above the ask. To ensure his limit orders get filled he uses an offset. Typically these routes are pretty quick, but direct routing is always preferable.Ģ) When Ross sends his orders he is buying using a hotkey, that when pressed, will send a limit order via one of his preferred routes. Many brokers have smart routing, at Lightspeed it’s called LSPT, for example. When he traded at Suretrader they didn’t allow direct routing, so he simply used their Smart Routing which is just called LIMIT. When he is routing his orders he primarily uses direct routing to ARCA or NASDAQ. If you're looking for how-to information for using hotkeys in the WT Sim, please see this article here.ġ) Ross trades with Limit orders, he doesn’t use market orders. This article will help answer common questions and give some extra details on Ross Cameron's process of entering positions, taking trades, etc. ![]()
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