- Video Timeline
- Video Takeaways
- Layout Overview
- Order Settings
- Watchlist Control
- Symbol Detail
tastyTip : If you want to rewind or fast-forward 10-seconds then tap the LEFT or RIGHT key on your keyboard.
Are you looking to fast-forward or review a to a specific portion of the video? Well, no need to blindly fast-forward around in the video, below is a timeline of where you can scrub to (or fast-forward along the timeline).
00:05 - Layout overview
00:50 - Setting up a futures trade and order routing
02:31 - Adjusting the price of a working order
03:31 - Viewing symbol/underlying details
04:01 - Getting filled and position details
04:45 - Flattening and closing open positions
05:48 - Setting up a Stop-Market order
06:49 - Setting up a Stop-Limit order
07:18 - Using market orders with the SAFETY ON
07:44 - Using order settings
08:20 - Trading with the SAFETY OFF
- If you have more than one account then please make sure you are routing trades in the correct account. To learn how to set select your default account then please click here.
- The platform defaults to the active month, or the front month, To trade a back month contract, please enter the month and year code into the symbol at the top of the platform and click the bid or ask to populate the symbol into the Active Trader Interface.
- Please be aware of the potential advantages and disadvantages when using stop-market or stop-limit orders. To learn more, please click here.
- Please be familiar with the platform and the Active Trader Interface when considering turning the Safety Off.
Welcome to the Active Trader Interface where you can get your ding on (platform fill sound). This interface is built for the active trader in mind. Sending and revising orders is lightning quick with the Active Trader Interface. Let’s take a look at the five areas within the Active Trader Interface.
Located along the left-hand side of Active Trader are your order settings. Within this column, you’ll have access to (from top to bottom) Safety, Order Type (TYPE), Time-In-Force (TIF), Quantity Tick (QTY TK), Price Tick (PR TK), and Price Offset (PR OFF).
These order settings dictate how orders will be sent from the interface and offer you flexibility when entering and editing working orders.
The safety can either be ON or OFF. Active Trader defaults to “Safety ON.” It is indicated by being illuminated in blue. When the safety is ON you will have the opportunity to review your order within the watchlist before you push send.
Much like how our parents sat us down when they handed you the keys to the car for the first time, we have to talk about the “Safety Off” feature. We HIGHLY ENCOURAGE you to be well aware of your surroundings within the Active Trader. In other words–you want to know what you’re doing. The first time you turn the safety OFF you receive a “Disclaimer Acceptance” notification.
The safety is off when illuminated in red like this: . A “Safety Off” warning will display in the top portion of the Channel. You will also notice that Order Type and Price Offset is outlined in red. The order type will switch to Limit (LMT), and the Price Offset will change to 0.05 as well.
You must manually switch the order type if you want a market (MKT) order. Clicking on a bid or ask in or out of the Active Trader Interface will fill an order immediately when using market orders.
The “Safety Off” feature is purpose-built for active traders. Please familiarize yourself with the Active Trader Interface and the overall functionality of the platform before switching the safety off.
*PLEASE NOTE: Clicking on the bid or the ask on a watchlist or quote that is OUTSIDE of the Active Trader Interface when the safety is OFF will create a LIVE order to SELL or to BUY, respectively, based on your Order Settings.
Order Type (TYPE)
You can set your order default order quantity when entering orders via Active Trader. You have the choice of four different sized round lots (divisible by 100).
There are seven different price tick selections to help you with pricing increments. Each PR TK selection means that each time you edit the price, it will move the order price in the selected increment from the last bid (selling) or ask (buying).
There are eight different price offset settings you can choose from when placing orders. Selecting an offset will create an order that is above (ask) or below (bid) the offset selection. For example, if you have your offset at $1.00 and you want to sell a stock that currently has an ask of $100, then it will create an order that is $1 above the ask, or $101.
- .00 (will hit the bid or ask immediately)
Active Trader gives you the ability to trade from pre-loaded and custom watchlists on your platform. Within this area, you’ll be able to trade directly from your portfolio using the Positions watchlist and any pre-populated watchlists curated by tastytrade.
Within each watchlist inside Active Trader, there are seven columns as illustrated below (from left to right).
- Position/Working Order (POS/WRK). Open positions will be in blue and working orders will be in yellow. Symbols with working orders will have larger rows.
- Change in price (CHG)
- Bid (SELL) - Clicking the bid will create a selling order.
- Ask (BUY) - Clicking the ask will create a buying order.
- Edit - As illustrated with AAPL below, this will allow you adjust the price of any working order by clicking the up or down arrow. To cancel an order just click the 'X.' Lastly, clicking the arrow pointing down to a bar will cancel all working orders and flatten the position, or completely close out of the selected position.
Located above the watchlist is a drop-down menu where you can select a different watchlist. You have the choice of viewing built-in watchlists, a watchlist of your positions, and custom watchlists. There is also a filter to help you view working orders only (W ONLY). The animation immediately below goes over the overall functionality of the watchlist control.
Overall view of functionality: