Our own Joe Ely, VP of Strategic Business Development, hosted a webinar on May 24th to show current and prospective active traders an inside view of some of the new features offered in the latest version of Lightspeed Trader, our flagship stock and option trading software. Here’s a quick overview of some of the features that were highlighted:
Stock locate made easy. When you’re looking at a level 2 window displaying information on a stock symbol, you’ll notice two icons in the upper right-hand corner. There will be a letter, followed by a number with a percentage. The letter represents the shortability:
The number following the letter represents the margin requirement for the stock you are looking at. Also referred to as the marginability or the percentage of equity that you need in order to execute a long trade.
Find a stock with a gray “L” that you want to borrow? With our short locate feature, this is easier than ever. This eagerly-awaited feature allows you to request shorts that are not on the “Easy to Borrow” list. To add this feature to your trading account, make sure you download the latest version of Lightspeed Trader, and then call or email our Client Services, 1.888.577.3132 or [email protected].
One of the reasons many traders love our stock and options trading platform is that there are so many ways to create a customized trading layout to your liking. Each window can be configured with font style, color, and a multitude of other options by simply clicking the cog in the upper right-hand corner.
In this webinar, Joe also reviewed how you can set stock alerts for just about any event and choose your own sounds. For example, you could select an alert for with a specific amount for last bid, or ask, for a stock symbol that you’re monitoring. The sounds you can choose from are the Windows default sounds, which can be configured in your computer’s control panel.
Another customization option that many people have been requesting is the ability to add VWAP (Volume Weighted Average Price) as a data field when viewing a stock symbol. To do this, just go to the level one customization options and select the option to add the VWAP data field.
Joe also took some time during this webinar to review two other recently added features, TipRanks and Lightscan.
TipRanks lets you view a daily stock rating list from analysts. Each one is rated with up to five stars to indicate their record, allowing traders to determine whether the analyst’s advice is sound so they can incorporate new ideas into their strategy. You can also search any stock symbol to see whether analysts are choosing to buy, sell, or hold, graphically represented in a pie chart. Additionally, hedge fund activity may also be viewed.
Lightscan is our built-in stock scanner. Although it comes with the software, you will need to call or email our Client Services department in order to gain access to this feature. The scanner provides an efficient way to sort through available stock. You can sort the data by dozens of different criteria, including by percent change, enabling you to see which symbols have the greatest positive or negative change.
If you missed the webinar, you may view the recording here.
We are always listening to feedback from our customers to make our cheap trading software as versatile and convenient as it can be. Stay tuned for upcoming webinars which explore the features of Lightspeed Trader, trading strategies, and more.
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