In this video Ross, from Warrior Trading walks active traders through the positions window on Lightspeed Trader. He explained what active traders see within the window and settings available on the platform.
Hey everyone, Ross here from Warrior Trading. So, in this video I'm going to walk you through your positions window.
Now, as you can see, I've got my open positions. Actually, I only have one position and it’s closed. I've got my positions window right here. This is the Lightspeed Trader desktop trading software, and this positions window allows you to see any positions that are open or that you've closed today.
The columns are as follows: symbol, position, the number of shares you're holding. So, if I go ahead and buy 3,000 shares of this stock, I'm now holding 3,000 shares. My cost that I'm in at is $10.02. My cost basis unrealized is $60 because I'm in at $10.02 and the bid price, which is the best price that I could sell at right now if I sold to the market, is $10. That's a two-cent loss times three, $60 loss. My cost basis closed P&L is $17.50 of a loss, which was how much I lost on my first trade on ZVZZT, which is the NASDAQ test stock.
Now, as you can see here, I can scroll over. So, What I can see when I scroll over is my marked P&L. This is the open P&L plus the closed P&L. If I scroll over further, you can see the number of trades that I've taken. You can see how much liquidity I've removed and how much liquidity I've added.
I'll have separate videos where I talk about adding and removing liquidity.
Now, if I go to the settings widget, I click right here, you'll see that there's actually a number ... these are the columns I'm showing. There's a number of available columns that you could choose to add if you found it was helpful. I generally go by the keep-it-simple philosophy. It just works better. I see the data that I need to see, and I don't see what is not helpful. If it doesn't help me decide on the trade, I don't want to see it.
So, this is what the positions window looks like. It’s very simple. As you take more trades, each one will be lined up below here and you'll, at the bottom, have your total PNL on the day open and closed.
All right. I hope this has been helpful. Any questions, as usual, don't hesitate to reach out.
In this video Ross, from Warrior Trading talks about fundamental analysis when trading. He also explains the differences between fundamental and technical analysis when an active trader is trading. The Lightspeed Trader platform does contain news windows for fundamental analysis so traders can potentially leverage information from news headlines.
Active traders are continually looking at charts and the patterns that they create. Most traders want to use time frames that are most popular to determine patterns and when to potentially make a trade.
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