Trading Flashcards
1
Determine your stop loss before buying
2
get in a play within 10 seconds
3
always negotiate, on wide spreads
4
don’t swing with capital but only with gains
5
always secure gains either by selling out or setting a stop to protect gains
For Calls, were looking for the strike price that is…
right below the ask price of the stock.
For Puts we’re looking for the strike price that is
right above the ask price of the stock
order type 1
buy/limit order, left click on ASK, choose your amount and hit confirm and send
order type 2
sell/limit order, left click on the BID, choose amount to sell and confirm and send
order type 3
Is a Sell/Stop order, use only between 8.30 am to 3pm, left click on BID, Change the word from Limit to STOP, the adjust the price to what you want to trigger the sale at, then hit confirm and send
order type 4
Use for Stocks only, 8.30am to 3pm, is a buy/stop order, left click on the ASK, change word from Limit to STOP, then adjust the price to where you want to trigger the BUY then confirm and send
order type 5
Use for Stocks only, Sell/Short order, To start a Short position, left click on BID, choose your amount and Confirm and Send, To Close out on the Short Position, Left Click on ASK, choose your amount and Confirm and Send.
adjusting working stop orders
when you a set a stop loss, the trigger is the ask price, but the market fills the order at a lower BID price, the market will fill the order at the spread or between it.
Custom Orders with Stops - Long Custom order
Right click on ASK, select Buy Custom with Stop, Determine your Stop price, and enter into the Red Price cell. Hit the Confirm and Send Button
Custom Orders with Stops - Short Custom Order
Right Click on BID, Select Sell Custom with Stop, Determine your Stop Price and enter into the Green Price cell, Hit the Confirm and Send Button
OCO
One Cancels the Other
Custom Orders with OCO Bracket - Long Custom Order
Right click on ASK level, Select Buy Custom with OCO Bracket, Determine your Sell Limit & Sell Stop Prices and enter that into the Red Price cells, Hit the Confirm and Send Button
Custom Orders with OCO Bracket - Short Custom Order
Right click on BID level, Select Sell Custom with OCO Bracket, Determine your Buy Limit & Buy Stop prices, and enter that into the GREEN Price cells, Hit the Confirm and Send button
Mobile Orders - To Buy Stock from Watchlist
Select the TICKER, In top right corner select BUY, Make sure the QUANTITY is what you want it to be, and the PRICE is what you want it to be. Hit the REVIEW then SEND.
Mobile Orders - To Sell your Position
Select the POSITION tap, Select the ARROW left of the ticker, Put a CHECK in the BOX, Hit CLOSE SELECTED, Select the SELL or BUY DESCRIPTION , (at top of list), a check will appear. Select CLOSE,
Make sure the PRICE is what you want it to be, Select REVIEW, then SEND
Mobile Orders - To Buy Options from Watchlist
Select the TICKER, Select the Option Tab, Hit the ASK of the One Strike in the Money ID, Make sure the Quantity is what you want it to be, and the PRICE is what you want it to be, Hit the Review then Send
Mobile Orders - To Sell Your Position
Select the Position Tap, Select the Arrow left of the ticker, put a Check in the Box, Hit CLOSE SELECTED, Select the SELL or BUY DESCRIPTION(at the top of list), a check will appear, Select CLOSE, Make sure the PRICE is what you want it to be, Select REVIEW, then SEND
Mobile Orders to Set a STOP
Select the POSITION tap, Select the ARROW left of the ticker, Put a CHECK in the BOX, Hit CLOSE SELECTED, Select the Line that show “with STOP” a check will appear, Select CLOSE, Adjust the Price to what you want it to be, Select REVIEW, then SEND
Mobile Orders - To adjust a STOP
Select the ORDERS tap, Select the WORKING tab, See your order, select it by tapping on it. Select Cancel/Replace Order, Adjust the Price to what you want it to be, Select REVIEW, then SEND
Mobile Orders - TO Change a STOP to a LIMIT
Select the ORDERS tap, Select the WORKING tab, See your order, select it by tapping on it. Select CANCEL/Replace order. Hit the arrow left of the word <STOP, this will change the order to a LIMIT order. Adjust the PRICE to what you want it to be, Select REVIEW, then SEND
Stocks trade from…
6 am to 7pm, pre hours 6 am - 8..30 am, Post hours: 3 PM - 7 PM
Options Trade from
8.30 AM to 2.59PM, no pre or post hours
Futures trade from
Sun 5 PM to Fri 4pm, Maint. windows are 4 to 5 Pm, Mon-Thur.
Determine your stop loss before buying
1
get in a play within 10 seconds
2
always negotiate, on wide spreads
3
don’t swing with capital but only with gains
4
always secure gains either by selling out or setting a stop to protect gains
5
right below the ask price of the stock.
For Calls, were looking for the strike price that is…
right above the ask price of the stock
For Puts we’re looking for the strike price that is
buy/limit order, left click on ASK, choose your amount and hit confirm and send
order type 1
sell/limit order, left click on the BID, choose amount to sell and confirm and send
order type 2
Is a Sell/Stop order, use only between 8.30 am to 3pm, left click on BID, Change the word from Limit to STOP, the adjust the price to what you want to trigger the sale at, then hit confirm and send
order type 3
Use for Stocks only, 8.30am to 3pm, is a buy/stop order, left click on the ASK, change word from Limit to STOP, then adjust the price to where you want to trigger the BUY then confirm and send
order type 4
Use for Stocks only, Sell/Short order, To do a Short position, left click on BID, choose your amount and Confirm and Send, To Close out on the Short Position, Left Click on ASK, choose your amount and Confirm and Send.
order type 5
when you a set a stop loss, the trigger is the ask price, but the market fills the order at a lower BID price, the market will fill the order at the spread or between it.
adjusting working stop orders
Right click on ASK, select Buy Custom with Stop, Determine your Stop price, and enter into the Red Price cell. Hit the Confirm and Send Button
Custom Orders with Stops - Long Custom order
Right Click on BID, Select Sell Custom with Stop, Determine your Stop Price and enter into the Green Price cell, Hit the Confirm and Send Button
Custom Orders with Stops - Short Custom Order
One Cancels the Other
OCO
Right click on ASK level, Select Buy Custom with OCO Bracket, Determine your Sell Limit & Sell Stop Prices and enter that into the Red Price cells, Hit the Confirm and Send Button
Custom Orders with OCO Bracket - Long Custom Order
Right click on BID level, Select Sell Custom with OCO Bracket, Determine your Buy Limit & Buy Stop prices, and enter that into the GREEN Price cells, Hit the Confirm and Send button
Custom Orders with OCO Bracket - Short Custom Order
Select the TICKER, In top right corner select BUY, Make sure the QUANTITY is what you want it to be, and the PRICE is what you want it to be. Hit the REVIEW then SEND.
Mobile Orders - To Buy Stock from Watchlist
Select the POSITION tap, Select the ARROW left of the ticker, Put a CHECK in the BOX, Hit CLOSE SELECTED, Select the SELL or BUY DESCRIPTION , (at top of list), a check will appear. Select CLOSE,
Make sure the PRICE is what you want it to be, Select REVIEW, then SEND
Mobile Orders - To Sell your Position
Select the TICKER, Select the Option Tab, Hit the ASK of the One Strike in the Money ID, Make sure the Quantity is what you want it to be, and the PRICE is what you want it to be, Hit the Review then Send
Mobile Orders - To Buy Options from Watchlist
Select the Position Tap, Select the Arrow left of the ticker, put a Check in the Box, Hit CLOSE SELECTED, Select the SELL or BUY DESCRIPTION(at the top of list), a check will appear, Select CLOSE, Make sure the PRICE is what you want it to be, Select REVIEW, then SEND
Mobile Orders - To Sell Your Position
Select the POSITION tap, Select the ARROW left of the ticker, Put a CHECK in the BOX, Hit CLOSE SELECTED, Select the Line that show “with STOP” a check will appear, Select CLOSE, Adjust the Price to what you want it to be, Select REVIEW, then SEND
Mobile Orders to Set a STOP
Select the ORDERS tap, Select the WORKING tab, See your order, select it by tapping on it. Select Cancel/Replace Order, Adjust the Price to what you want it to be, Select REVIEW, then SEND
Mobile Orders - To adjust a STOP
Select the ORDERS tap, Select the WORKING tab, See your order, select it by tapping on it. Select CANCEL/Replace order. Hit the arrow left of the word <STOP, this will change the order to a LIMIT order. Adjust the PRICE to what you want it to be, Select REVIEW, then SEND
Mobile Orders - TO Change a STOP to a LIMIT
6 am to 7pm, pre hours 6 am - 8..30 am, Post hours: 3 PM - 7 PM
Stocks trade from…
8.30 AM to 2.59PM, no pre or post hours
Options Trade from
Sun 5 PM to Fri 4pm, Maint. windows are 4 to 5 Pm, Mon-Thur.
Futures trade from
TSLA(just a ticker symbol)
buy the Call Option or Stock
TSLA RIsk
Means there is no direction, or the spread is too wide which adds to the risk, but still buying
TSAL Put or Short
buy the Put at Current Ask Price or Short the Stock itself
TSLA Stock
this means only buy the Stock
TSLA off 354
this means the TSLA is below 354, but once Ask price hits 354, buy the STOCK or CALL option at whatever price it is at that moment.
TSLA PUT off 354
this means the current price is above 354 but once the ASK Price of the stock hits 354, short the stock or buy the PUT at whatever price. With this kind of post, lets say we traded it once already, but we are right back to the above example price wise. Unless i change the entry , we can replay it.
TSLA is on Fire, or TSLA i see buyers, or TSLA Running, or PCLN is Moving
this means buy the stock or buy the CALL immediately.
