Hey guys so today we're gon na, do it in depth tutorial on Interactive Brokers and how to set up your charts. To look like this. Of course, we're going to talk about the chart, appearance indicators, watchlist alerts, order, entries and hotkeys, and also answer the age-old question of how exactly do you get your level two on Interactive Brokers, to not look like, as well as adding the correct V walk indicator on Your chart - this was a highly requested topic after my thing was swim set up tutorial, so if you guys enjoy videos like these and find them helpful, please remember to drop me a like on the video. So the first thing we're going to talk about is layout.

So if you unlock with this lock box over here, if you click, if I click it that locks it, if i unlock it, then i can freely drag it around. So I have the quote window right here and how you get these windows are with. If you click new window here - and this is where you can get all the elements like order - entry portfolio watch list etc. So I just have quote window up here on the top left watch this and portfolio over here.

So you can see. If I click then watch this switch, your so much charts and my daily chart my intraday chart, which is a three minute or the five minute or the 1-minute, whichever you want to use. I have my 15-minute chart here. Sometimes I switch tatooed already as well and down here.

I have news and news for the stock and order entry on the bottom right hand corner and over here I have time and sales right by my intraday charts timing cells right here. My level two is over here. You can see the bid and ask these are my order summary. Basically, my order management system or my trade and other open orders over here as well.

So and you can equate while the layout it's unlocked. You can drag these around and adjust the width and the length if you want to, but I kind of have these set up like this, so once I'm done adjusting and layout I'm gon na click lock, you can again you can find all these layout windows over Here, when you click a new window and find every single while cook together like chart, is this one? So this is chart, so you can fit that in any of the empty space you have okay. So, let's talk chart appearance now so go up to your chart up here and click Edit and chart parameters, so Interactive Brokers like to overcomplicate a lot of their chart settings. So I think, by default, there's a lot of all these different things checked up and like midpoint imbalance, fear, aids, legend and all that stuff.

What I like to do is I uncheck almost everything, so this is just too much so I uncheck bit and ass volume. You don't need this. I keep previous clothes, I don't use buttons panel, but you could. I know some people use it.

I'm gon na uncheck that I, like my crosshairs, so I use that party the details own that one's fine view up of the bar okay, I'm gon na show you how to use video op indicator, so I'm gon na take that off as well quote zone and Chart trader those finds how keep those and what I really like is over here might show my traders triangles you can use dashes to, but I'd like to show my traces triangles. That shows where you place your buy and sell. So that's pretty cool. I don't do any of these cash dividends, blah blah blah or that BS very important.

I want to see outside the market hours trading, so you click show data outside of regular trading hours. So I think Interactive Brokers start at 7:00 a.m. market time and ends at 6:00 p.m. market time.

So if you want to ignore certain hours, you can do that here. You can click that and say that. Maybe you want to ignore after 5:00 p.m. market time you can do that, but I just have this set of default, so I don't check that here and so that's the chart parameters.

Okay, so that's why I like do and also you can see the there's like these annoying, like yellow triangles on the daily charts, and I have that here on the hourly chart. I hate that so so that yellow yellow triangle is news, so get rid of those. If you, unless you want to see those annoying yellow triangles, I get rid of those you can see. Oh it's gone.

Oh amazing, so I'll do the same with daily get rid of news. Okay, you don't need those news, anyways, okay, so that's the daily charts, the hourly chart and the chart appearance and up here again go in on toggle crosshairs. If you want to see it, if you want take it out, get rid of it. You can do that.

Some other ones I use is add commentary. Sometimes I like to add commentary. This stock is a piece of - and you can add that here so if you only add that for later, you can do that here as well. Okay, so besides crosshairs, you can also go to edit, and you can see all the different trend lines that you can draw horizontal lines, vertical lines, trend line, text commentary which we did with saying that the stock is a piece of other stuff like arrows.

You can also do Fibonacci retracement if you want to, I personally don't use it. I like to use my fav energy extensions or retracement thinkorswim, but can do that Interactive Brokers. Here, too, you can see it was pretty easy. Let me get rid of all my annotations.

You can clear everything by click edit, clear, Oh annotations, so to add our indicator studies to go to edit and studies, and I want to add volume. So I use the volume exponential moving average. I add that, and I usually use the 13. You click apply and also the EMA's, so you can add as little or as many EMA's you want to.

I just use one. Let's say I want to use a 90 ma. You can also change a color here. Let's say I want to use white.

So, okay, I have the volume at the EMA wells. Let's say what it looks like. So that's where you see you see my volume average down here at the bottom bar instead of the basic you know, volume indicator which I have here on the already that's fine too, but I just like to see you know when a volume is breaking above the Average right so next I want to add vo up and I also want to add some other ones. So go back to studies.

So to add vo up, you want. I, the intraday volume weighted average price right. Is you don't add that that's the vo up? You can see by default, Interactive Brokers. Vo up gives you like three lines.

You get. The upper line. They've got the mid line. You get a lower line, so there's three lines in total you can see and reflecting on the charts here, which is extremely annoying because which one am I supposed to look at right.

So don't worry. I have a solution for you: go to edit chart parameters and click legend. So once you click legend, click apply and ok you see on the legend, you have the options to deselect upper and lower on the V intraday V, one voila. Once you deselect it, you got your 1 V watt, which is the 1 intraday that people use and that's it and this legend you can go back and turn off by going to chart parameters and uncheck legend voila problem solved and some other studies that a lot Of people like to use are RSI, I guess it's a relative strength index.

You can add that here, but you can also do other crazy things like the Ichimoku cloud, if you want an RSI, but for me personally, I like to keep it very simple. Just a volume, average V watt and sometimes a 90 ma. Another really important indicator is the previous state close. So by default we have that setup on the charts remember earlier, we want to chart parameters and we want to see prior clothes right here.

This is previous state close, but Interactive Brokers make it really hard to see it's. This dash line, like you, see, QC like this dash line right here. Prior quarter close at 255, I'm ji, a n, that's the previous state close. If you look at Disney it's this line here, 148 30.

So that's an important indicator. It's just really hard to see so by default. That's a previous state appearance that they have and you can just toggle that on or off, if you need it, ok, so the next exciting thing we're gon na talk about is level 2. You can see.

I have my time and sale set up here and level 2 over here, so by default. I believe you get the fonts to be like super tiny. I think the default size is 11 right and I don't know about you, I'm old. I need these glasses to see, so I have everything set up to be 13 font right, size, 13 for the font and the same thing on time and sales because I don't want to have to like be squinting when I'm reading a level 2.

So I do the font size selection for timing sales as well. So let's talk about the age-old problem, Interactive Brokers, level, 2 and how it's only black and gray - and it's extremely hard to see. So, let's go back to level 2 panels over here I have market maker, name, price and size, I think by default they have some other ones, but you can remove them if you want right, but I like to keep these three and click down here, show colors. So once you show colors, you can see it's just the black and gray still so what you want to do is go to colors, and you add your background here, so you can see on this screen here.

I have the colors set up to be like yellow red and blue, so you can do that with this screen. So let's say I want to have yellow on the top red and blue, so you can do that and also you want to change your text color to black, so shows up under color panels right so I'll change the text to black and another one here. I think you can add more levels if you want like, if you want a fourth color or a fifth color, but that gets a little bit too much for me. So I just keep it like this and click apply, ok and apply and voila you get all the different colors on level 2 and the text is a lot bigger yeah.

I can actually see because I have grandma eyes, it's the same thing with time itself. Let me show you what I have so if i unlock this time and sale, I have something like this, so if you go to configure settings, it's the same thing with the font size I have it set to 13 helps a lot. I have it set like this show rip actual repetitive data instead of symbolic indicator. That's important show real time.

Data level, of course quotes. I don't like to see bid bid, ask a size stuff like that here, because I use only sida on the level 2. I just want to see the last midpoint and the last size so last midpoint size. I don't really need time, but I can't remove that.

So I just have that at the far left, which I can minimize and a little bit so once you have this set up, you just click apply, so you can see that here, I'm Disney. This is the level 2. So far what market is closed right now? So this is a level sorry, the time in sales right now, so I have a really narrow over here like this, like so and I move the panel's up here to drag so I don't see the time. So I only see the last price and the size, because that's all that really matters so once I'm done, I'm gon na click and lock the window.

Ok! So next, let's talk about the watches right so remember earlier you can get your the watches by going to click new window and click watchlist right. So that's the panel that pops out, which is the same one I have over here. So that's open up so watch this. You can build various Watchers here, like I have one small runners like all the pending stock and a separate one, and this is the intraday watches.

I have very easy. You just click the empty space. Let's say I want to add: Tesla TSLA, just add that here you get Tesla, let's say other ones like Roku beyond meet, so you just type that you have the Watchers show up here and you can configure the tabs on the top to see the amount of Data, how much or how little you want to see so click this configure over here and click settings, and over here you can see the financial instrument, which is the ticker. I have last price change change percentage volume, if you want add more things like you know, news where they has news or not.

You can add that here you can add dividends. Greeks, if you are trading options, you can see the Delta or the theta on the stock. So far. If you would like to see that you can just click this and move and add that over here to the left side, so you sure have that show up on the tab here.

So but I don't like using that the comers I just have this set as default: it's not anything fancy like I like for the level 2. So once you have that click apply and let's create a new washers. So you click this little plus sign on the top new washers, and I want to say that say: I want new watch this. I can rename it by clicking the right button.

Rename watch this. Let's say it's demo and you just more small caps or large cap stocks like you want here. So it's pretty straightforward and watch this, and let's minimize that move that back - and I want to go back to my no default watch this here and you can also sort your watches by the amount change up here. You can toggle by the change by the amount of decrease or increase, so you can do that here or you can sort by percentage right here.

You can toggle that here as well, it goes or sort by last price or the alphabetical order of the ticker. So down here you have the news panel right. To be honest, I never use a good news panel, Interactive Brokers, but it's there. If you want to use it, I use been Zynga.

So that's my new source, so I don't use that IB gives you many many different options, sometimes a little bit too much when we're trying to place a buy or sell order. The first and then very obvious part is obviously the order. Entry box on the bottom right here, you can have limit order, stop-loss order market order, usually I use limit when buying. So that say, I want to buy the stock s R and E at a bid.

You just click here and you click bid, 100 shares and you click buy. So that's you can see the order show up here and once it's set, you can actually drag order to move the price that you want. So it's it's pretty intuitive, but but sometimes it's still faster to use hotkeys, because when you're dragging your kind of like, like you know, I can accidentally drag a little bit too much. It's really easy to just accidentally hit the ask, so I usually use hotkeys which are showing a little bit.

So that's the buy order and it's the same thing with a sell order to so. If I want to sell or sell short 320 if it hits. So if I order 320 sell, you can see, that's my sell order and also you can also so let's cancel those. So what you can you also do is using these okay.

I think these are coach, chart trader or something, but these buy or sell buttons on the top. You can. Click click buy and you just kind of drag this blue line down here that creates a buy limit order and same thing with a sell. You can also click that red button and drag down to the top.

That's where you want to sell your position was sell short. So let's cancel those right now. You can also click on the on the level two to hit the price that you want. Let's say you want to buy the bids at 310, so automatically enters the price at 310 same thing as selling.

If I want to sell ourselves short at three Phillip 14, I just click level two, and that shows up here as well. Oh also another very convenient feature that you can do what the order entry box on ID is. Let's say I want to set a buy limit order on the stock SR and E at the bid at 310, but I don't want to send it out to to market yet I will not be able to prepare the order first and send it out later, when I see the price action confirms with that plan, so I can have that order entered right here which will send this order active into the market. I can click, this arrow drop down arrow down here and I can say, save water.

You can see this order popped out, but it's not transmitted to the market. So it's not it's not active. I can drag it up here. It's not gon na you know send me the actual order.

It's only you can send it to the market, making it effective by clicking this T. I call here this green tea here, which is transmitted right. So let's see that right now, so the ask price is 313 right now have it at 312. So I drag in 313.

Let's say I wan na know send this. So just click T you can see that for my order, so pretty intuitive order, entry tool. That's the one aspect I like about IP. So now we're gon na talk about hotkeys.

So to configure your hotkeys go to control H on the charts here. So if you click that on your chart, you'll see the hockey this floating window pump pop up. So click H, control, H again to configure your hotkeys. So I keep it pretty simple, and these on this Interactive Brokers paper account.

I have buy limit, sell limit and closed position, basically market order out and also cancel all outstanding positions so that, if you want to create a hockey, let's say a by limb order, you click buy on the top here and click shortcut. So, let's say record: I want control B, yeah control B; okay, that's my bad limit and market data on us. By on the bid. This is a buy on the bid on the click apply and also customized.

Here you want to go to so. Action is by obviously size is default, so default means whichever you have entered down here and the order entry. So that's default. You can also set to absolute, which is let's say you always want to buy limit a thousand shares.

You can use that here too, but usually I use default because I want to be able to customize my share size according to the risk. So I leave that as default and order type. This is really important. I use limit order.

You can change that to buy on the ask and all these other order type if you want - and you can have multiple hotkeys for different water types, of course, but for this one, I'm gon na use limit and what I really like about IB is that it Allows you to have like it's a plus or minus offset, so let's say I want to buy limit on the bid right. So let's say the bid is at $ 7, but the stock is moving so fast I want to get in at I don't mind if there's a three cents slippage, so I want to do, is click three cents. So that means, if I my bid it's at $ 7, I would still get filled, even though the bid moved up to seven over three. So that's pretty nice and you could obviously create all the different ones for limit with no slippage and allow and the debt separate one for allowing a three cent slippage.

So you can do that. You want to click transmit order instantaneously, because otherwise, if you, if you don't click it, they will ask you to confirm after you click the hot key, then what's the point of having a hot key, if you're not gon na, send it out to the market like Instantaneously right, so I always click transmit the order instantaneously. Obviously you wan na know read this and be aware that that means once you have that button set up, it's gon na send to the market right away, so you don't get to confirm and modify order. So click yes and the master order and click yes and that's a demo so so now I have the buy limit order.

So let's say I want to let's say: sell, sell them in order create shortcut again, click sell, create shortcut, sell, ask, go to customize on sell default size again limit, and for this one I want to say I'm gon na ask, but I'm willing to have a Three cent slippage, so if I ask it is at 7:05 a a hip limit cell and I miss the cell right - it ticked down to let's say 704 703 I'll still get filled, because I'm allowing myself a three sensitive pitch so again transmit the order simultaneously. Yes and click yes, and over here and once you're done, you click apply. It's the same thing you can see at this very similar hotkeys for a closed position, which is market order out shift X. That's why I have and cancel submitted outstanding orders, which is all the orders you have saved.

So I have control X and once you're done, click apply. So that's a hotkeys. Let's say I want to get into the stock CGC right now on the bed plus or minus three cents. You see my hotkey s, shift B, you can see, I just got in right and that's see if I want to sell it.

I'm gon na ask the ask right: now is 1847 if I want to sell it shift X and I'm sitting on the ask waiting to get filled, and I just got filled right and that's say if I want to use a chart trader up here, I can Click buy and drag the order down here. That's a that's the order I want to get in that at the limit. Price falls down to 1835 and I have that up here and the same thing with selling. If I want to sell or short the stock, if it goes to 1860s now, if I want to cancel all my orders, I just click ctrl X to cancel all my orders right here, so very convenient to have canceled orders or order on the stock that see Wells osio orders.

So if you click advanced down here, let's say I want to buy CGC at 1840s. That's a so! I puncture you not water right now, I'm a bit 1842. If I want to add a bracket water so basically either take profit or stop-loss order along when I send out this buy limit order. I can do that here, so you can click or unclick, whether you wan na profit take or just a stop loss.

So let's say I want both right, so it's in its bracket, water, so stop-loss. If I enter at 1842, that's a wonder, lost to be 1835. Let's stop and take profit. That's say I want you know.

Potentially I wan na hit 1854 right. So so I have both of these here and you can adjust whether you want the kind of order to be limit or stop. I suggest you to for stop order. I always do stop market stop hard market stop because I don't want to like you know, get slippage and get stuck holding the position when I want to actually get triggered to get stopped out right, all my positions, so I stopped lost.

I always you stop market order. Profit take, I always use limit, so this is an OC order. So let's send this out right now. So after this hatch, okay, a hundred shares of fourteen 1842 and that's hit by so this is where you see three kinds of order you see in the Bywater.

I want you see the stop order down here. You can see right here, sell stop-loss, no 1835 and up here is a profit. Take right. So let's say: if I drag this, you can see that I'm dragging all three orders along.

Oh, like there's, a cup filled. Okay, so you can see a car filled. Unlimited price and my stop price is now. I can also adjust it to stoplight price.

If I won't stop down at 1837, I just got stopped out right, so this is pretty convenient when you're trying to get in in trying to walk away and if you're, not by your computer, you want to be able to take profit and have a stop set In place you can see after I got stopped out, my take profit order also got cancelled, so this is a conditional order. Basically, it's only if you get filled on the by then both of the other orders would trigger and once one of them triggers the other one would cancel out. So it's really convenient and also down here, you can see short able. So this will tell you the how many shares they are available to short with Interactive Brokers.

So you can see this contract will be available for short sell if the short can be located. That means there's. They don't have shorts right now right. So if it's sharable this green icon, this green dot here will be lit up, it'll be a bright green.

So let me show you, let's say: okay Disney. They always have shares to short on this, so you can see like it's really subtle, but this Green Dot is lit up right now right. Can you see a difference this Disney? So it's short of all you can see if I hover my mouse over. I can see this at these.

Fifty 1.9 million shares available to short, sell, so lots of shorts on Disney. But if you go to some penny stocks like today, a qst, they don't have any shares available right. You can see if I hover there's no shares. Let's say what else a P P n.

I don't think that any shares of oh they do so. It shows that they have, they only have 3000 shares left of a pdn for you to borrow short. So that's a short availability. So that's just a quick demo of the hotkeys.

So let's talk about alerts now, so I usually set alerts on my daily chart. So let's say I want to say, alerts to be triggered when clvs crosses 11:23. So I do. Is click alert box this button on the top click alert and you can see I can drag here.

So let's say I want to put it here. I can always change your price a little bit. I have right now at 11:45, so let's say I want to be the bid to be at at or above 1145. So that's where I set.

You can also no obviously change it. That's a 50 around 50 or if you want to you, can be alerted outside of market hours, regular trading hours. Usually I like to I like to be alerted during the regular time, so you can then after you're done, go to activate and you have the alert set so and also how you see all your alerts is: go to a new window and go click alert over Here and click the window tab, so these are all the alerts that I have set. So you can add and configure your alerts series you can see.

I have my Ovie alert, clvs alert active, so that's useful and it's all in a window which you can manage in a different screen. If you want, but you can access over here is let's say I want to open a tab for options open a tap here. You can click new window and you can get options chain right here, which you can see right here, which Interactive Brokers is pretty good for options because they are pretty good pricing. There's other features like a scanner, but to be honest, this scanner is like the news filter.

It's it's not the most intuitive, so I don't use it, but you can access that over here. If you want so go to near window and ganner's, I guess it's a mosaic market scanner. It's really hard to use like I tried to use it once many years ago. It just it's not the best, but you can access that here.

If you want us active, you can see all the active stocks on scan and as far as the market data subscriptions, you definitely need level 1 and level 2 for the Nasdaq and NY I see if you trade OTC. You can subscribe to that as well. I'll show you a list of all my data subscriptions before and for paper trading you can set your paper trading amount on your Interactive Brokers account on their website. So I don't think there's a way to set up up in the windows over here, but you can do that on the account management page that they have so hopefully, this interactive brokers tutorial helped you guys out so set up your interface for day trading and before I forget: if you want to download my interactive broker settings you can do so in the link below.

If you have any questions regarding interactive brokers. Just leave me a question down below and I'll be happy to help you out again. If you like, this video feel free to drop a like and I'll see you guys next time.