Alright guys, so today is Friday and that means it's time for another episode of Behind the Trades And today we're going to be talking about Lightspeed's financial. I'm going to do a platform demo where I'm going to show you how to set up your Lightspeed desktop trading application I'll give you kind of a walkthrough of how I've used it in the past and we're also going to kind of break down the benefits of using Lightspeed But we're also going to talk about what active traders look for when we're searching for a good broker. We have a list of the top stockbrokers. The top brokers, in my mind are Speed Trader sure Trader and Lightspeed Interactive Brokers is also high on the list because of the fact that you can use - Trader when you're trading with interactive brokers.

So before we do that, let's do a little overview of the game plan for today. Alright, so we'll of course jump into my weekly stats give you a breakdown of you know what worked this week, what didn't work including my biggest winner and my biggest loser. We're also going to talk a little bit about technical analysis, but primarily will be inside the Lightspeed platform going through how to get that set up, how to add your technicals to those charts, and how to get the hotkeys set up, and direct access routing. All right now.

let's see once again, we had another awesome free chat day on Monday which was fantastic. We had again just over 2300 traders that came through I Think this Monday was closer to 2500 traders so that was very exciting and will be hosting another free chat day this coming Monday But then remember Presidents Day Weekend there will be a Monday bank holiday on Monday the 20th so we'll be skipping that Monday But this coming Monday the 13th will have another free chat day so you guys can join us in the chat room. and I get a sense of what it's like to be part of the warrior trading community. all right now.

My weekly stats a little disappointing. Honestly, I'm I'm disappointed in my trading this week. This is not at all the way I was hoping to to trade on this I think the fifth week of this 100k challenge. It was good.

Until yesterday and today and yesterday and today I really gave back some profits on Monday and made a thousand bucks on Tuesday and made three thousand on Wednesday I made ten thousand. So three really solid days up fourteen thousand dollars. and then yesterday I lost four grand and today I lost 5300. So I really gave back almost everything I made on Wednesday and that leaves me with just five thousand, one hundred and four dollars profit this week.

So my starting balance actually this is this is wrong. My, this is where I started this week and I will end this week right around $45,000 I forgot to update that So starting balance on Monday will be $45,000 and you know that's fine. It's good. $5,000 is a good 10% gain in one week, but I'm really not pleased with the fact that I had two back-to-back big red days.

One of the trades that we talked about today. my worst trade of the week was the trade from yesterday. The trade today that I lost five grand on it really wasn't a bad trade I just was being aggressive and I was looking for a really a bigger move. I had 20,000 shares I was up maybe $8,000 I was thinking that it was going to squeeze through high a day and then it dropped 80 cents I got filled on the bottom with slippage.

It's pretty brutal. Really brutal to go from up almost $10,000 to down 5 grand. Very disappointing. Very frustrating.

That's the challenge with taking large-sized The reason I was able to make 10,000 on Wednesday and if that trade had worked, it could have been a $20,000 winner very easily. I mean very easily could have even been more than that and this was me stepping up to the plates and wanting I suppose a Grand Slam I did just want to get on first base or just get on second base I wanted to, you know, really hit the ball out of the park and that's why I didn't sell when I was up I kept holding thinking that it was strong, it was going to go through the highs I was going to see this pattern through and unfortunately it ended up going the wrong way. On the other hand, the best trade of the week will be a trade where I did something very, very similar and it worked. The disappointing thing is that on that trade I was only holding 6,000 shares and so the best trade of the week was only like a $3,000 winner.

With 20,000 shares, it would have been a $10,000 winner. So that's just kind of the luck of the draw that the trade that I get sized up really heavily on goes against me and the one that I have smaller size on ends up working so well. But the the result is that this is a green week. $5,000 profit I made about 8,000 last week, so actually no last week was last week was more than that.

Let's see, last week was like 26,000 I was looking at the week before, but in any case, this was a pretty decent week. I mean it could have been better, but Green is good so we'll just keep you know, keep grinding along if I have to kind of scale back and and trade with smaller size for a couple of days while we wait for momentum to come back into the market. that's what I'll do. Obviously though, I would prefer to keep seeing really good opportunities.

So my profit loss ratio this week an improvement over last week. Average winners were 16 cents per share and average losers were 11 cents, which is a 1.4 5 to 1 profit loss ratio. That's that's not bad. What's disappointing is that my accuracy dropped from 95% last week down to 57% this week.

You know I just didn't have the accuracy today. I took 4 trades and I lost on 3 out of 4 yesterday. I took 4 trades and I lost on three out of four the day before where I made ten grand I took five trades and made money on four out of five. So it just seems like you know I'm either hot or I'm not and whether it's me or the market or combination of things I'm not sure.

but when I have back-to-back days where I'm just kind of off my game, it's a little annoying and I can definitely get to me. and this is not the way I like to go into the weekend I mean, you know, but at the same time I'm still the trader who took $583 and turned it into you know, what's now 45,000 So I don't have any right to really sell that much, but this is these losses do will keep you humble. It's a reminder. You know that the market is not afraid to slap you in the face and I got slapped in the face two days in a row.

So I'll be back on Monday You know, a little bit more humble as a result of losing 9,000 dollars over the last Two days and you know at the same time I'm not going to really change my strategy. My strategy works. The strategy is what's gotten me to where I am today. I Just need to always be mindful of my position sizing not size too heavily when the market is choppy, not be afraid to take profits when I have it.

Although the spreads were such an issue this morning on that one trade that the profit I don't know that I could have really sold and taken that 10 grand or a grand or whatever it was. so you know the biggest challenge of you know being doing this $100,000 challenge. The biggest frustration for me is that I'm doing it in such a public way and so there's definitely ridicule when I have a couple of back to back read days. people like to trash talk, but you know what? once they go and take 500 and turn into forty five grand and show with the statements that they did it.

I don't know that there's any validity to the stuff that they say. so I'll try not to let that get to me. you know I'm You guys are here on the journey to 100 grand through the UPS The Downs Today's a little bit of a pullback and not happy about it, but we well bounce-back so let's on a happier note. Talk about the best rate of the week.

and then we'll talk about the worst trade of the week. So the best trade of the week was on the seventh on my OS This is a $2,900 winner. Disappointing that it was only with 6000 shares, but this was such a clean five-minute setup. We got this nice move here from 380 360 all the way up to $5 and during that move I was I wanted to get in I wanted to just jump in I didn't want to wait for the pullback but I told myself last week after having that $13,000 locks onto the last Tuesday that I would wait for 5 minutes setups as much as I could I would try to avoid chasing on the 1-minute chart and you know this is one of those times where I would have done well if I had chased it.

but that's the way it always is. so I didn't chase it I wait for the pullback. we get to pull back down to the moving average and as it taps that 9 moving average I said ok guys. first five-minute Campbell to make a new high as my entry, that's going to be 460.

Target is high a day. Super simple. Got in 6,000 shares for 60. pops up to 520 2,900 bucks like that.

Now that was about 45 cents per share I certainly could have taken 10,000 I could have taken 20,000 I just I think I didn't have as much of a cushion on the day I was only up a couple hundred bucks on one trade and I was kind of like well let's just let's just see if it'll work. I started with 6,000 I tried to add 3,000 to get me up to 9,000 and I was planning on going up to 12,000 but the two times I tried to add is the either of the price popped up before I could even press the Buy button or it popped up and I didn't get filled so ended up with only 3 grand on that one which is fine. that's good money, but it had the potential to be a lot more. The good news is it was a good quality set up and it worked almost exactly how I wanted it to.

Now the trade that I took today on KBS H or sorry Kb SF is not what I'm going to call the worst trade of the week. I'm going to call Resn the worst trade of the week. This is my trade yesterday. This one was my worst trait of the week because it's not a very good pattern and I really just probably shouldn't have even taken the trade at all.

I got in this with 12,500 shares at 498 right here for the break of $5 I had already popped up 25 cents and it popped and I thought it was really going to go I thought it had a lot of more potential I thought I'd get in daily chart had room up towards 550 so I was like okay we're above the 200 on the daily. it looks strong. it's on the high Today scanner I'm going to jump in I jump in it pops up to 510 I'm up 1200 bucks and then in one minute candle a one-minute candle drops down to 468. Boom! I'm down four grand and it's like wow.

All right Well I guess I'm going to see this through at this point it dropped so fast that even if I had had a live stop and the slippage would have killed me I would have filled at the bottom so I would have lost probably 4500 bucks so I said alright well I'll just hold through this pullback. it drops down, it pops back up and so right in here I was like okay you know what this is flagging but my concern is that the volume is so is so low I Ended up stopping out at the bottom of this candle lick right here. Booked to $3,400 loss and then you know it ended up coming up before the end of the day back to $5 So I wouldn't have held it all day long but it just unfortunately was one of those trades that had the right I had the right idea with this flag. It just didn't work out because there wasn't volume and my initial entry was way too high.

Now I'm just going to step out of this for one second. Let's see, step out of the webinar 2 2, 2, 2 and I'm going to show you KB f8 sorry KB FS is sorry this one's giving me a hard time and show you what my thought process was on on this little guy today. So on this little guy I Wanted to get in as soon as the bell rang I Tried to get in at 5:50 with 5,000 shares I filled 85 shares only 85 shares. it pops up to a high of 641 would have been $5000 but no of course not pulling it only $80 Its halted, it resumed higher and as I bought out of the hall 7500 shares I buy out of the hall, it squeezes up to a high of around $8 838 I sold into that move and I made a $2,200 So $2,200 and then it's consolidating on the one-minute we'll pull back the one minute chart here and I got in I got back in right here.

first one minute Campbell to make a new high at 880 we popped up to a high of 820 so I was up 40 cents I only got a partial fill and then it dropped back down and I stopped out and took a loss. So I was like all right this is frustrating and then I got back in a second time. The second time was for the third time. The third time was for the first five-minute candle to make a new high long 7,500 shares over 838.

We pop up to a high of 863 and then drop down to 806 I stopped out I lost over a thousand bucks, gave back more than half of my first trade and then I said okay, you know what I'm going to sit tight this I think this is I'm just going to wait for a five-minute pullback. this pulls back first five-minute Campbell make a new high was at 10:00 a.m. as we broke over 749 750. That really looked good to me.

This looked so similar to the setup we saw in my OS So I jumped in this and I really thought this was going to go from 750 all the way back up to the high a day I really did. It looks a little solid. We popped up to eight, was up $0.50 didn't work, pulled, pulled back down to 7:15 and I held through the pullback. We come back up a second time up to 8 up to a high of 8:15 and then we all of a sudden drop down to 7:10 and that's where I lost almost.

you know, a full point or at least 50 cents in slippage. So it's not that this was even a bad quality set up. That's why I'm not going to call it the worst trade of the of the week because the setup was fine I could have sold sooner I could have tried to take profit sooner Maybe I should have had so much sighs, but this could have also just as easily. I mean really? Toss of a coin just as easily gone back to 8:58 60s through $9 and been one of the biggest trades of the year.

It was the right setup, just didn't work. So I think that one of the issues with this one for some reason. this one, let's see: I'm just going to look at the hide a Momo scanner it was on the scanner. let's see 936 do I mean it was on the scanners? For whatever reason, it just didn't catch people's attention and I'm not sure why that was.

it was a reverse split and reverse splits are not always the cleanest setups, but we've seen some good action on GEVO and on GBM Gb SN So you know we've seen some good reverse split opportunities, but unfortunately this one just didn't work out. so I ended up giving back the profit I made on the first trade, you know I kind of missed the proper entry chased a little bit, didn't make as much as I wanted to. got back in for the five-minute set up, probably risking a little too much and then I certainly wasn't expecting to get that type of slippage and maybe I should have expected that, but in any case, took the loss on that one. so look, definitely little disappointing.

Was not really what I Was you know, hoping to have happen on a Friday before the weekend. but on the other hand, you know we step up to the plate. you stand tall, you know you're either you know going to be kind of a hero or a zero. it's it's one of the other when you trade with that kind of size and this one was was definitely that.

That was the case. I mean it was going to be either a big win or pretty big loss. and I just got on the wrong side of it so maybe a little too aggressive. and since I've had to read days in a row I do need to shift gears just a little bit and kind of switch my focus from getting a big winner to just kind of, you know, breaking out of the downtrend and kind of getting back into making some money and having some some green days even if they're only 500 or a thousand dollars.

just kind of put that little cold streak behind me. I seek a BSF moving back up now up towards $8 Obviously I'm not going to trade it at this time of day and I'm already below my max loss. So but anyways, on resn I'd say this is my worst trade of the week just because the entry really wasn't that good. It wasn't a good five-minute setup.

the one-minute setup was a chase I was just a little too aggressive on him. All right. So that's the best and worst trade of the week. And now we're going to start talking a little bit about the trading platforms that we use as active traders.

All right. So today we're going to talk about Lightspeed Financial I'm going to do a platform demo Lightspeed is one of the top brokers that we have that we suggested to beginner traders into day traders. So one thing that's important to realize is that the platform that's right for me is not necessarily the platform that's right for you or you know, for traitor number three or trading number four. And this is one of those things like I Kind of think of the platform is like a bicycle if you want to ride.

If you want to go on a mountain, you don't want to ride a road bike. Right? if you want to ride on the road, a mountain bike is not really the right, the right tool. so that's kind of the way. I think of the platform's As a day trader, there are very specific things that we need that we require from our trading platform.

So what do active traders look for in a trading platform? What do you guys what you guys think would be some of the most important things that you want to see? And yeah, Mike uses Lightspeed pretty much every day for his trading platform and I've used Lightspeed over the years on and off and I've always been really happy with them. I Just have a slightly lower rate with a speed trader, right? So I'm seeing some replies: Hotkeys, Execution speed low commissions charts Accuracy yeah lect access routing so in no particular order I Wrote these down. Number one: A stable Platform Stable platform is critical. You don't want a platform that's going to crash on you.

And so that's why almost all day traders are going to want a desktop application. You know we've all had. You know, the Adobe crashes, The flash crashes. It's not the Adobe Flash like the web browser crashes, so you don't want to use.

You don't want to be day trading with a web. You don't usually want to be day trading with your mobile phone. You know, it's just. it's not the right platform.

You want a desktop application that's stable. Lightspeed definitely has them. Number Two: You need level 2 data that gives you a market depth that tells you how many buyers you have on the bid, how many sellers you have lined up on the ask. It really paints this picture of what the market looks like for the stock and trading.

Without level 2 as a day trader would be, you know it would be like riding your bike down the mountain with one eye closed. I Mean, yes, you could do it. There's really no point in doing it. You're increasing your risk.

You're increasing the likelihood that something bad is going to happen. You're not proving a point to anyone. You're just. it's just there's no.

there's no common sense behind that. Level to is important. Alright, so Number one: Stable Platform Number Two, Level Two Number Three Direct Access Routing. All right now.

Many brokers, including Sure Trader Ameritrade and each raid have somewhat limited options for direct access routing. Some actually have no options at all. which means that every route will be. You're basically given two choices.

You can either route as a limit order or market order. Those are two choices. The problem with that is they're going to do smart routing. And I'm saying this in quotes: Smart Routing.

Well, what's smart is here. There's an inherent conflict of interest here. The route that is best for a broker may not be best for a trader. and so because of that conflict of interest, they're just.

and I'm not blaming them. I'm just saying that they're going to route to whichever route gives them the best Ecn credit or the biggest rebate for volume you know, and that may not be the same route that gives you the fastest film, right or the best execution. So for me, I've always found that it's better to direct route my orders. I can choose the Ecn, I can choose the electronic communication network where I'm going to send my order.

So remember that the market is like an island and there's lots of different ways you can get on the I And okay, you can choose to use your brokers smart route and they're going to go and find whichever way to the island or you can say I Want to go directly through ARCA I Want to go through NYSC I Want to go through Nasdaq I Want to go through edge X and you can just route directly to that ECN And you're going to go straight to the market now. All of these ECNs potentially will reroute your order for various reasons, so it doesn't mean your order won't get rerouted. but I've always found the direct routing gives me faster fills, better executions. and then also on this same note is the ability to do dark pool routing to ping the dark pools.

Now today, you know, with a twenty thousand share position of a fairly thinly traded stock, it would have been nice if I could have pinged the dark pool and found liquidity I wasn't able to, there wasn't any out there. but if I was trading at a firm that didn't even let me try to do that, then even if there was a buyer sitting in the dark pool not visible to their smart routing, I wouldn't have known about it. and let's say there was a ten thousand share buyer sitting at 750. Well, I can't see him, he's kind of behind this curtain.

The dark pool is, you know. I'm not getting I'm not pinging him with the route so my sell order passes by him, goes through next, the next next, and then finally I get filled at 7:10 I Get a lot of slippage all right. So direct access routing plus a dark pull routing. Ideally, if possible, number three or number Four hotkeys.

The ability to get in quickly and get out quickly. Now a lot traders are like Ross I Can't believe that you're able to trade as fast as you trade. But the reality is, you can trade as quickly as you can press buttons. I Mean it is literally that quick.

You know you want to press a button, it's that quick. You're in the trade or you're out of the trade. So hotkeys are a must. You know if you're going to be an active trader, If you're going to be trading more than you know three times in a day, and where your trades will sometimes be as short as 1 or 2 minutes long, you need those hotkeys.

They're going to get you in. They're going to get you out When you have that unrealized profit, you don't have a fumble around you don't to go through. you know, a web browser and and then an order confirmation window and then an approve window. You just press Ctrl-z like that and you're out of the trade.

Done. I mean you really can't beat that type of speed. And that the ability to customize haki specifically to the type of trading you want to do is really, you know, a great feature for any active trader all right now of course also and they didn't include this specifically. but fast executions definitely a requirement for any active day trader.

Most of the firm's and offer direct access routing with hotkeys inherently will have fast executions and then the fourth or fifth item that I also didn't mention is low cost commissions. This is important because as traders last year I generated I think it was gosh now I can't remember. off the top my head it was either 14,000 or 30,000 in in ECM fees. Let's see I can pull this up.

Etn fees and commissions I Just got to look at my statement here while I pull this up. but the fact is, last month. in short, Trader I generated 3000 dollars in commissions. Well, you know I traded with quite a lot of size.

So $3,000 I Guess that's that's reasonable. but over the course of the year that's 36,000 dollars in commissions and ECM fees. How many of us would like to make 13 extra $36,000 a year? Well the fact is, those commissions at sure trader are probably a 50% discount versus if I was trading at a kind of retail firm. Like each Raider Ameritrade which is $9.99 per trade.

most of them start around $10 a trade, so anything you can do to reduce your Commission's is going to help you Let's see, total last year was $10,000 in commissions and 14900 and Sen fees. Twenty five thousand, Five hundred, Twenty thousand points per round. Twenty five thousand dollars in total commissions last year and I made two hundred and twenty-two thousand. So you know the Commission's after commissions.

So commissions were about ten percent of my gains. and that's just kind of like you know you got to pay your toll if you're a truck driver. you got to pay the tolls. You know just it's part of the business.

You can't really complain about it, it's just it is what it is. But if there's an opportunity to trade at a firm that's going to give you a 70% discount versus another firm, it makes sense to you know to take them up on that offer. So one of the things that's really cool: All of the tool. All the features that we've talked about so far: Platform Stability Level 2 Direct Access routing, Dark tool, pings, hotkeys, great commissions, etc.

These are all included in the top Brokers that I've used over the years, including: Lightspeed Financial Speed Trader, and Sure Trader. These are the top brokers for day traders. Interactive Brokers is also really good because you can use that same platform so they're right up there as well. Now because we have worked closely with Light Speed Speed Trader, Ensure Trader, they are offering 100% rebates for students who take our Warrior Pro course and that rebate comes in the form of discounted commissions which is a pretty cool thing.

So you know we've done a lot of webinars for different brokers and also for a lot of big companies I like Ecig Noll and Light Speed and so on. So what they've done is it created this 100% tuition rebate program. and the way it works is if you guys take any of our classes the Warrior Pro Class for instance. Let's say you sign up for the Warrior Pro Class.

Speed Trader is going to give you a $1.00 per trade rebate. Light Speed will give you a one dollar and fifty cent per trade rebate. So every single trade you take, you're saving money until you've recouped the total cost of your course. So if you bought the course for $3,000 or whatever it is, you'll save $3,000 in commissions over the course of you know, whatever it is.

Six months of trading and we have that available with speech Rate or Sure Trader and Light Speed because these are three of the really the best brokers for traders who are trading the same strategy as me and it allows you a sense to get our entire course paid for by the broker. All you've got to do is take the course, send them a copy of your receipt. you know, trade for 90 days in our simulator. Graduate to trading with real money and then they'll be giving you that dollar.

Two dollar fifty per trade rebate until you've recouped the entire cost of the class. All right. So just something that you guys should know about because that is an awesome opportunity for you. get your education essentially subsidized by your broker and if you think about it, it's like it makes a lot of sense for them to do this offer this type of program because they're going to.

You know they're thinking about client retention. You know how long does each average trader stay with the firm Day traders I'm sure since there's only a ten percent success rate, have a lot of churn they come in, they leave, that come in, they leave and they want clients that come in and are going to trade their for the next. you know, Five years, ten years, twenty years, etc. Long, you know, long lifespan.

The traders more at to have a long life span or ones that have a good education that have gotten training. So it really makes sense for them to invest a little bit with this rebate program for you guys because they'll end up having clients that are well trained. Alright, so with that said, I'm going to jump in here to the Lightspeed platform and kind of give you a walkthrough of how this works and we'll do this for Speed Trader and Short Trader which both use the same platform Interactive Brokers as well. But we're going to start today with doing the Lightspeed platform demo.

Now for those of you listening on the podcast, this is going to get pretty visual. so I would definitely suggest that you watch on YouTube if you're able to, but you can listen along and audio and then watch later on. YouTube I'll do the best I can to kind of articulate what I'm showing everyone all right. So this is a Lightspeed trading platform and I'm just going to go ahead and log in here so show me a password and of course those of you watching on Facebook live again.

This is a fairly visual type of behind the trades episode as well, so you guys can also watch this when we get it up on YouTube Alright, so this is what the Lightspeed platform looks like and I'll walk you through it the way I've got it set up, but basically we've got our level two windows and we've got charts in the middle. Some stats about our account up here in the corner and up here would be our P&L for the day. All right now. this may look similar to some of you guys who've been trading with direct access platforms in the past.

For those of you who have been trading in a firm like you know II trade or Ameritrade this may look pretty foreign I know that some of the I mean all the platforms are fairly similar. I was saying this to a student before who's asking. he said if I trade in the fantasy stock trading platform. you know for the 90 days while I'm practicing and the strategies.

Is that going to be a hard adjustment when I go to trade live in, you know, Speed Trader or you know a sure trader fee trades there And I said here's the deal. When you learn to trade, it's kind of like on a platform. It's kind of like learning to drive on a specific car. So let's say you learn to drive on a Saab and those of you who have driven sides, you know that the clutches is pretty pretty tight.

It's like really pretty finicky. So you know you get used to driving on the Saab You know how to drive that car, you get comfortable with it and then you go into work and they're like hey, great news. You've got a new company car. you know it's a manual transmission Ford F-350 or something and you're like okay, that's never that's huge like I don't know how I'm going to parallel park this I don't know how use it.

the clutch is different, but you know what you get used to it. I mean a car is a car You know how to drive. You know the mechanics of it. You understand it.

So yes, there's a little learning curve, but after a few days, whatever, a couple weeks it's going to feel completely natural and it's just going to be like I've been driving this my whole life so I sort of think of trading platforms in that way. Yes, you will notice a couple days of kind of adjusting. There's a little bit of a learning curve, but then once you get it, you're fine. And just for reference, this is a fantasy stock trading simulator.

So you know you can see here we've got our same level two window. Let's see the FSL are just put in a different symbol for some reason I Always have drawn two solar stocks. so you've got your trades here. Your open positions your open orders.

If I was to place an order here, a limit order. Whatever it is, it'll show up down here in my open orders window. These are orders that I've taken cancelled the charts. so you know that's kind of compared with a Lightspeed Here this is our level two.

This is our order entry window. You know it's in a slightly different spot. Your open positions. this is right here in Lightspeed it's it's up at the top so let's say I want to take a trade on.

Actually, I'm going to close this one. This one's not. doesn't look right to me. Hang on let me open a new level - let's see if that's going to look great.

All right So we'll put in. we'll put in Kb/s F I'll get my Redemption on a on the on the simulator. Alright, so KBS F We're looking at 775 here. Let's just say for the sake of argument, I'm just going to get into the simulator.

so shift 1 look at how fast that went in. you can see my positions right here by another thousand and I do this a lot you know I look at these positions and I'm like, okay this I'm watching the level 2 I'm thinking about wanting to get in if this breaks over 80 or if it breaks over 90. I'll probably add here's shift 1 again. I'm going to add it again and these you know I'm not sure why we're let's see.

I'll press ctrl Q You know these will go through pretty quickly. I'm not sure if we've got a spread issue. This is obviously a slightly more you know simile traded stock, so the spreads are a little bit bigger. But in any case, what we have here is a very similar platform.

You know, to any direct access platform. you've got your ability to route, you've got your level twos, you got your open positions, You can track all the orders you've taken. So now when you first set this up, as you guys know, I'm a big fan of using of using Ecig Kn'l for my charts. and maybe it's a little you know snobby that I want use this, you know platform? that's whatever.

150 bucks a month just for charging because I could just as easily use the charts that are in the trading platform here. But they're They're never quite the same. So you know, let's see, I'm scrolling in here. I'm mousing over this: I'm not even seeing it, telling me what the high is of these previous candles.

There might be a way to do that. But to me, I'm not saying these charts are bad. They load pretty quickly, but they're just not the same as what I'm used to on Ani signal. and I guess it's one of those things you get used to what you get used to and I'm sure if I had to switch I'd be fine.

but for the time being I have my charts over an E signal and then I've got my broker window over on the side. and for my broker window the one that I use a speech rater I don't have any charts at all I just have the four level twos back-to-back But in this example here what I did is I created these two charts the daily and the in the 5-minute This actually I wanted it to be a daily chart. so let's see, we can change that chart parameters. We'll change this to period is day okay and this to two weeks maybe? Okay, something like that.

So this is these two charts are in focus. So if I click on this stock or this level two window, they're going to update to this one if I click on this level two window, they're going to update to this one. Now You can change that. If you don't want them to be that way, you can make it so you know.

This level two window is always updating this chart and then you could say I want to have a new chart you go to file, you go a new chart that's going to be over here for this level two window and you can link them together. You can right-click this and you can say unlink. Right now it's linking to focus whichever level two is in focus. but you could say unlink and then you can go and you can link it specifically to whichever level two window that you want.

So if you want these to always be the same, you can link them so they're always the same. Alright now I have changed my level two as you can see to show green salmon's I and yellow and gray I have the same on each signal right here and I've got the same thing we program the same thing in fancy stock traders. Now that's because when I started trading, the broker that I was using was Etrade and these are the color schemes that each trade uses. But what you can do if you don't like it is you can right click and you can go to level 2 design and fonts and colors all right and right in here.

You can change this now you have these two columns. One is active, level two and one is inactive level two I Change the color of you active because this will tell me when I'm highlighted on this window, it's going to change to purple if I Use a hockey. this is the stock the hotkeys are going to work on all right now you could. You don't have to do this because it's already highlighting it in yellow, but by doing that, it helps you make sure, for instance, that you're not going to accidentally send an order when you thought you were selected on a different stock.

So it just tells you. Okay, this is the one I'm highlighted on. So the hotkeys are going to work based on that symbol. so shift one shift one.

So buying 1,000 shares, buying 2,000 you can see Boom Boom Boom 5,000 shares I Want out control-z They're gone now. This is a little bit faster because it's a demo, but they're really I Mean we're only talking about probably milliseconds of difference. It's very, very quick. For those of you that you know one different color skis here.

you can set up gradients and stuff like that I Think Mike has his setup as a gradient which is fine I Just for whatever reason, I Was never able to really see these super well when their gradients like this to me is not as easy to read. although I Know a lot of people like Radiant I just I don't them. For me, it's not as easy I like to see those levels. Alright, so let's see.

we'll close this one and replace it. I'll just open a new one I Think let's see SP Why this - why Oh looks like I'll have to go in and update it did you two do so? In any case, we don't have to update that right now, but you guys know how to do that. One of the other things I did is I go into design the design column here and I change the font to make it a little bit bolder just to make it easier to read. You know that to me helps I want to I want to be able to see what's going on here without any issues.

So make it easier to read and just while we're here, we'll go and change this to green and then to kind of a salmon color. okay and it will do cyan color and then I guess the rest can be gradient. It's fine. now.

one of the other things that you can do is change which order these all appear. the market maker, the price or the who's the last trade. I'll show you guys who are watching on Facebook So right here you've got market maker, price and last trade. If you prefer that to be in a different order, you can change that here saying which one's in position one, two, and three and we'll say okay so I think you know.

For me, having used this platform over the years, this seems fairly. You know, relatively intuitive I mean it's not maybe the most intuitive, but you know I know if I right-click this I'll get a drop-down with setting stuff like that I can make some changes, hide column lines, you can hide them or you can show them. You know things like that are super easy. Let's see all the move this down a little bit.

So if I let's say I want to put an order on this KB SF which is still consolidating here, this is still flagging so it still looks good to me. Who knows whether it'll go. But let's say I want to put an order down at you know, 45 or something like that. Actually, let's say it.

let's do this way. Let's say I want to put a sell order at 838 something like that I put the sell order and there you go. The sell order is sitting right there and it's waiting. Now one of the things that I really like to do is right-click: this with the settings and say let's see where is it display only show active orders.

Now if you show executed and canceled orders, it starts to look like this and my problem is that I can get an active order buried and I don't realize I still have an active order that's open. And that's a problem because you know you might go away to lunch and then come back and all the sudden you have a position you didn't realize you left an order open. So for me, the way I use the open order window in boat in all my platforms is I change the settings and I say only show currently active orders. It makes it very easy for me to say and to see and you can change the colors if you want.

although these are fairly standard all right. So that order will sit there for a little while. We'll keep an eye on this. Hi the last five-minute candle is 74.

so to me this looks good over you know, over 775. It's not the right time of day that I would want to trade it, but it's interesting. Low volume, definitely lower volume than we had earlier in the day. So so up here you've got your positions window right Here you've got messages.

This is going to tell you. make this a little bit bigger. It's going to tell you the fills that you've got. It'll give you error messages.

Let's say I try to take a hundred thousand share position. It's it's going to say hold up cowboy, you can't You don't know the buying power to do that. So you get your error message there. You've got your P&L up here and you've also got it right here in this column.

You can have these hot buttons, but to me, if you're going to use hot keys then those are going to be faster than mousing over to here to click these buttons. Ok so now we've gotten ourselves logged in, you've gotten your level to Windows setup. These are all order entry windows so we go to new, we go to level 2 and then we go to new and we go down to order entry windows. We have these set up and each one of these will give us the opportunity to direct route our order.

So you can see here. these are some of the routes that you can direct route to so you can say well I want to send this one I wants into that one etc And let's see I'll show you over on my other account and one second here the options that are available on on speech Raider It's the same type of thing though you can. You can go in here and you can select let's see where is it lost my mouth So you can select all of these different routes right there you know and there's there's a ton that are available so these allow you to direct route to you know basically wherever you want you know you want to go to this dark route. You can go to that dark route you want to go to bat to go to bats and that just gives you a lot of options.

It allows you to get into the market quickly. So when we see for instance that we've got edge X sitting right here I may say you know what I want to route to edge X I want to use that route now I think I can go in here into settings. Let's see. just do I Think you can have it so it'll change I Think that might actually be in level 2 settings so you can change the level to the Ecn based on which one you click if you want to and Mike could probably confirm that, but I'm pretty sure there's a way that you can do that.

so if you click on edge X it'll change your route to edge X I Know you can do it in Speed Trader I Just can't remember where you do it here in any signal. Let's see now. this is a pretty cool feature here. Remove crossed quotes.

So if you guys have ever looked at level 2, you've noticed that sometimes you have. you've got a set up where the bid is like 450 and you ask is 4 dollars and you're like why is the bid higher than the ask It's a stale order that got stuck there and basically this is going to remove those crossed orders so it just makes it easier for you to see the level 2 without having to look at those crossed orders. Now let's look at this. Alright, so this.

is going to looking good I'm let's say I want to add right there at $8 for the move through hi a day so just added a couple more thousand shares pressing shift 1 and we've got a high of 8 dollars. I mean this to me. Looks, you know, decent enough. So I'll put my sell order.

Let's see, put a seller at 8 10 or something like that now. I don't usually go and put these sell orders out in advance, but it's something you certainly could do if you wanted to. And this is obviously incredibly annoying because I do backup to up $10,000 on this trade right now. But alright, so there we go so you can see now.

I'm going to use my hot key to sell there. we go. Sold the whole position on the bid 17 and that's how fast it went out. So 1800 bucks.

That would have been nice if it was real money and we'll see what the stuffs high a day on. this is 863. so that's just an example though of the way. You can use your hotkeys getting quick.

you can get out quick scalp those types of breakouts now. All right. So we've got our level 2 windows setup. We've got our order entry window set up.

We change know how to change the the color schemes and stuff like that. You can pull the charts over, drop them down. here. you've got your orders window which we change to only show active orders and the only thing you really need now is to set up your hotkeys.

So I'm going to go click one of these little widgets, wheel things to set up the hotkeys and this is not the most intuitive way to set up hotkeys. in speech rate or in short trader you go up to I Think it's the you go up to the setup bar and then you just scroll down to hotkey and click it and it's a big kind of hotkey window which allows you very easily to see all the hotkeys you have and to program them and to map them. The interesting thing here is that you create the hotkeys under your custom orders box right here. I'm just going to pull this back here I'll be I'll redeem myself just emotionally on on this trade.

Let's see if we get a 1 minute pullback off the off the half-dollar So annoying. So anyways, um back into the platform you you've got a lot of options. Now the interesting thing here is that you have to click keyboard and this shows you all the keys and this is not the most intuitive thing if you just looked at it for the first time ever. But what you're seeing here is this is the 3 button and the S.

Let's see you've got three and you've got a couple different ways you can press 3 or 4. For instance, you can press shift 4 Shift + 4. You could have a hotkey mapped to that key or Ctrl + 4. You could have a hotkey mapped to that key or alt + 4 so that one key.

The four button can have three different hotkeys map to it whether you press Shift + 4, ctrl + 4 or Alt + 4 and then what you do is you vote. you go and pull down the command. So the custom commands are ones that you've created in the custom orders tab and then all the pre-built commands are from this drop down menu so you can see here for those of you watching on. Facebook you can drop down.

You can just choose all these things. So like cancel order keys. This is pretty simple. You want to cancel your selected order, You want to cancel the highest bid, highest ass, cancel the lowest you can see.

There's a lot of options here for different types of canceled orders right now. I'm using Ctrl. the C is Ctrl + Q for cancel all for that stock. Now the reason I do that is because let's say I.

You know. Let's say I have a position in this a QMS here. So it's 5000 shares and then I want to put out a sell order on this to sell. Let's say a thousand shares or whatever at 1680.

So I've got my profit target on this. Alright, so we're going to put that out. It's going to show up here now if I go over here to take a quick scalp on Kbh KBS f sorry I get in and then I decided I want to, you know, execute the order. So let's say I just put this order at a thousand shares at fifteen now I decide that the last minute I actually don't want it I don't want to cancel the order for a QMS right? I just want to cancel the one for K BSF canceling just for the specific stock using that script right now on this 1-minute chart here on: KBS F I would watch the first one minute cancel make a new high although be mindful that you've got what's looking like a topping tail or a doji on the 5 minute sharp.

So let's go back into the settings. We'll go back to the keyboard. so those were our cancel order Jaquise but you've also got close out hotkeys up to peer so you can have orders to close out positions, etc. What I like to do is go into my custom orders and just go ahead and build one.

Now the way you build one is go over to new commands and we're going to say let's say we're going to do a just a custom custom hotkey and this hockey will be 2 by 5 K shares 5 cents above the ask and we're going to say this is going to route through ARCA We're going to use a specific route create new command. Ok so now this is the window where we create it market ARCA that's where I type in I could also type in edge X or NYSC but we'll just use Archive for now, it's a buy order ARCA This is not going to be an order that's non reroute, don't earn or I don't mind that it reroutes the order. that's fine, display is visible. That's fine through this is interesting.

This is also known as offset. So I want to put this five cents through the ask price. The Ask is the offset that I'm going to use. So if the current price is $8 we're going to put the or five cents above that 805.

All right quantity. We got to change the quantity here with position to close and without position to close. We'll say this is going to be 5,000 shares and 5,000 shares. Do I want a pop-up confirmation and the answer is no because I want to do this as a quick so all right now I can say okay I could also say map key now but I can also just say done and now this is going to be right up here.

If I want to change it I can click it and click Edit and then it can make changes. So let's go and edit it now and map the key. Let's map it now. it pulls me up to the keyboard.

it highlights my custom command and now I have to choose which key I want to put it on so let me press a key. let's press the to button. The 2 right now has a super smart order so let's press the 3 button and let's go is shift 3. so s plus 3.

Here's the hockey. there's that's where I want it I press the map button now it's there. Press ok and now let's see what happens if I press shift 3. There we go.

I've got 5,000 shares of KB KB SF All right, press it again. I've got 10,000 This is the first camel to make a new hi there over 8:20 so that's a decent spot. but I probably wouldn't buy this one minute setup not just because of the time of day, but because the last five minute. and Elizabeth Okay, so now if I want to get out of the trade right now, you know how to buy, You know how to create a buy order and you can adjust those buy orders however you want.

Also, be mindful that you can use a super smart order where you can send to more than one market weight maker at the same time, so you're going to be able to get some times faster fills, but the ECNs are often a little higher on that and might can explain that to you guys more in this week's warrior procession. So now we'll go back to custom orders and let's create a sell order. Right now, we have a sell order for sell whole position at the bid. so let's look at what that looks like.

It's sell. It's Arca, it's the bid and it's through. Five cents, five cents below the bit and we're going to close out quantity. Full position.

It's pretty cool. you can actually choose do I want to do full position, half position or quarter position. So let's go and say Done! So we've got one for selling the whole position and I map that to control Z So let's say sell half position Bydd minus 0.05 Create a new command. It's a sell order.

what's for this one? for the heck of it? just use a different one edge. X We're going to five cents below actually. Mmm. let's try doing point zero five and to make sure it's not going five dollars I Don't think it was but well let's just try just to be safe below the bid close out will be half position and that will leave that as that tears say mat key Now so we're going to do the A, press the X button and control X I map it to that key I press ok and now let's send the order.

There We there we go. Sold 5000 half my position now I've got 5,000 shares left. Sold a half, again, 2500 half again 1250 half again 625 half again 313 again 157 again 79 and now I press Ctrl-z to sell the whole thing. Did I really make $6,000 in the simulators Wow Huh? I Guess that's Redemption I Don't know, doesn't feel like it you can see is that that? Brokeback through high of day back for high a day $6,000 in the simulator.

In any case, it shows you how quickly you can either make money or lose money, right? You know these stocks are moving very, very quickly and so there are definitely opportunities here. If you're quick, you can get in, you get out, you can capitalize on a profit and you know that really is the way I trade I Mean it looks for these setups usually I'm not trading on the you know the one minute time frame at you know, 1:00 p.m. the afternoon. But you know nevertheless, this this is a good example of the way I Trade You need to be able to trade quickly.

You need to be able to be quick on your toes. Having the right platform is a big part of that. Alright guys. so we've gone through the buy keys.

We've gone through the selkies I've shown you about using direct access routing. You can also set up a hotkey specifically to change the route so you could press something like control a to change this to a different route. We go into custom orders. This would be simply route create new command and we'll say at let's see what's one that we know we have well let's say edge X map the key to do route.

we'll put this to the E and we'll say shift E like that I think that'll work I might have to do I might have changed it a little bit. Yeah I think I have to change it but in any case and it gives you a sense of you know one of the things that you could do to quickly adjust your trades and so I was still holding I'd be up about thirty thousand dollars right now. so a little disappointing. but you know this is part of the deal with trading.

Sometimes you're a little early, you got the right idea but you can't hold through the pullback. Got stopped out, ends up running in the afternoon. It's the luck of the draw. It is what it is I'm up five thousand on the week I'll take it bounce back next week.

Hopefully we'll have some good trading and I'll be able to get a little bit of redemption as I make my way towards 100k. All right guys. So I wanted to give you that quick preview of the the Lightspeed platform again, a platform that a lot of our traders are currently using, A platform that I've used over the years I've always been really happy with them and one that I would you know happily recommend to to any of our students or anyone that is an active trader. All right.

So now why don't we switch gears? do a little QA for a couple minutes as we wrap up this third episode of our Behind the Trades. Now to answer your question on Commission's the Commission's are with the rebate program I believe they are 350 per trade I think they're three fifty three dollars and fifty cents per trade. Plus you have Ecn fees per share. Some simulators will show you commissions and some will not I don't think that one was showing commissions.

You can basically use all the hot keys that are available in speech Raider and rewrite them inside Lightspeed because you can customize so you really can create almost any of the hotkeys that you'd like. Normal cost for ECM fees per thousand shares is between a dollar, fifty and three dollars at a high. It's not usually above three dollars, so it's a point zero zero three is the typical Ecnv sure trader and Lightspeed these guys will give you a simulator but it's usually only for 14 days. I Don't think they're set up to and we had talked with Lightspeed about doing this, but they're not set up to do like long term like three to six month access to the simulator.

They're just not set up to do that. Control-z will not close a short position I use alt Z to close a short position. So my Alt key is the one scripted for shorts and the control one is the one scripted for Long's And yeah, another thing I could have mentioned is the fact that you can integrate the Trade Ideas scanners with Lightspeed So you click on the scanner alert and it populates that symbol over in Lightspeed So that makes it really quick to be able to jump from, you know, from one platform to another. for me I've got to type it in each place, you know I've got a type first in my charts and then type it in my platform and it can just be a little bit annoying.

by the way, probably the longer I watch this KB SF the deeper I'm going to sink into a depression this afternoon. This is extremely disappointing. so maybe I'll switch them over. All right hey, you go lay down.

okay guys. So any questions for those of you watching on the podcast, watching on Facebook or watching on YouTube I'd love to have you guys comment comes up. subscribe to the channel. We'll be doing behind the trades every Friday right around noontime at least Fridays that I've been trading.

well I know they'll be one Friday that I'm out. but for the most part, every Friday at noontime lunchtime recaps will be Monday through Thursday 12 noon. No recap for today just because we're doing the Behind the Trades episode. but I kind of broke it down for you a little bit during this episode anyways.

Well alright guys so I will see you all first thing Monday morning I Hope you all have a great weekend, get some rest and study up. Alright thanks guys!.