Why I Do Not Use Hot Keys as a Stock Day Trader...
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- Опубликовано: 21 фев 2021
- One of the more talked about topics in the world of being a stock day trader revolves around hot keys. How should you set them up? Should you use them? In what way is it best to use them? There are many opinions out there on the matter and people often times question me about my day trading hotkey management strategy. Well, as a day trader, I do not use hotkeys. For some I realize this seems like a crazy decision and one that is ill advised, but I want to explain to you why I do not use hotkeys as a stock trader. Let me be very clear about this. In no way am I saying that you must follow my thoughts or do what I personally do. We are all different as traders and must use methods that best fit our personal risk tolerance and strategies, but for me, not using hotkeys has helped me the most. Let's talk about how hotkeys can work and be either an efficiency tool or an opportunity grabber.
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Clay, I agree with you. Hotkeys may be useful for a particular style, however, I regarding day trading as similar to a swing, but just for one day. These are the pitfalls of relying on too many hotkeys:
Trading platform mistakes.
Concentration lapses.
Nonchalantness.
Indolence.
Insufficient forethought.
Impulse trading.
Overtrading.
Thanks for the thoughts.
I like your humility. It’s refreshing! Great explanation! 👌😊
Thank you! 😃
Good video Clay! for me I get better entries without hotkeys and better exit with hotkeys. Go with whatever fits your personality. Thanks Clay!
Well said!
Agreed, no hot keys for me yet. Helped me to fix typos errors too.
Indeed
Sometime Slow to Buy and Slow to Sell just makes sense! Ty Clay!
Thanks for watching
Thank you for your sharking !
My pleasure!
Great video man
Glad you enjoyed
I had doubts on clay when I first started watching his videos though watching clay for several years, he has strong points and opinions. His material is very educational. Patients is key, it's why he doesn't use hot keys by this he can also adjust emotions while taking the time in his trades. These are very important factors and I concur. I'm a high frequency trader much like Ross though by diversifying on how you strategically capture gains in the market defines your ability to trade right and to trade profitably. Thanks clay
Thanks for the thoughts and for sharing.
I don't use hot keys. I buy at a pre-determined price and always have a phycological exit point. I'm not greedy but consistently making at least 2-5% gains a day keeps the job away. My system works for me. Great video and excellent talking point.
Thanks for sharing!
Me too. I have wayyyyy more gains this way.
I am similar when I trade I do get anxious and in knowing that, I resolve by slowing my pace. My thoughts of forecasting is ahead and I can see where prices are heading so I do get anxious. No hot keys for me. (Thanks, I subscribed to the link to your channel). Will be looking to see if we have similar picks or if I need to ride a stock with you. All the best. Thanks!
Thanks for watching (and for the thoughts)
I feel the same way, New traders should get some experience by thinking a bit more before trades and not hypertrade like some traders out there advertise they should until you get some good experience.
Thanks for the thoughts!
I love your thoughts on this. Starting using your style. I use to swing for a home run with every trade and would either win big or loss big. Now I’m way more conservative. Haven’t had a red day in two weeks!
How long have you been day trading?
Good stuff!
I agree, sometimes I think to trade. But sometimes I miss hitting the button then I realize that would have been a bad decision.
Indeed!
As a complete noob who has not even started paper trading yet, in still doing my DD of the whole concept. I hear a lot of find your style and risk and stick to it. So you do what works for you, right?
Thanks for the videos.✌
Indeed, do what works for you.
@@claytrader So how do I find what works for me? Lol
Edit: with out blowing up my account.....
Or it could be 97.00. So a number of questions? Are in Premarket? Postmarked trading? Need to have ability to enter and exit quickly. Market open using OCO or 1st trigger brackets. What do you do is your limit sell is preset at .47 cents and the stocks hit 94 cents puts in a red candle and explodes Dn? Now do you exit? What I always ask and never receive your P&L? There are a lot of Traders claiming there win rates P&L? Are you a paper trader. Are you an Active Trader status? Professional Prop traders use Hot Keys exclusively when scalping or smaller time frames.
Am I a paper trader? Have you ever watched any of my live trade videos?
👍
Great video.
Thanks 👍
Good impulse control
Indeed
good reasoning
Thanks for watching!
Yeah, I am the same as you. However, because I am a gamer at heart... I love my key bindings. Your trader psychology about the entries is 100% correct. Therefore, I manually enter my orders, and I only use key bindings for exits.
Thanks for sharing!
Same!
Clay quick question, how do you become a daytrader without having 25k invested?
Watch this: claytrader.com/videos/how-to-get-started-day-trading-with-only-100-and-zero-pdt-rule/
Nice video
Thanks
Great work, I have a few questions.
1) The minimum 10k to open an account with light speed can that be used to trade or that’s just to open?
2) Do you think a fairly decent laptop will run these trading platforms?
3) How do you set up light speed for option contracts trading instead of shares?
4) Do you recommend a cash or margin account, how much do they tax cash accounts?
Thanks
First why do you want to open a lightspeed acct? If you're opening it with less than 25K (preferably more) then I'm assuming you're not trying to day trade as you won't be able to use big enough position sizes and the commissions will eat you up. Lightspeed is an awesome platform for day trading as the executions are truly lightspeed, but again without sufficient capital in your acct to day trade with then it's something I'd wait on until you are ready for that. If you're not day trading then using the free commission brokers is sufficient since speed of execution isn't as important.
if you're interested in "talking stocks/trading in general", you are more than welcomed to join my private community - claytrader.com/team/
@@Derek_1111 you could also just use DAS trader with any broker that offers direct access. It's the same as Lightspeed without the ui skin, he was talking about options though. So with a 10k account I can trade basically any option contracts I want and scalp them with decent size, shares is different but options don't require much capital.
I think hotkeys would be useful for quickly exiting trades i have a one minute rule if a trade isn't working to exit regardless. Also to move stop to break even, and to set atm strategies automatically to limit risk.😢
Fair points!
I only use hotkeys to populate the bid/ask prices, but I manually click to actually push through the buy/sell orders
Thanks for sharing.
Ok, question #2....who the heck uses a blackboard and colored chalk in this day and age? It looks like you broke into my 3rd grade classroom from back in the day. 😆
Do you want to know the answer?
I'm a fan of old school. All this new school stuff is covered in weak sauce...
In a perfect world Esignal would have HotKeys
Indeed.
To be fair Clay you’ve done this long enough to know yourself 🎓
I'd like to think so lol...
Totally understand, its a preference, good video , information for us rookies to consider, THANKS
Glad it was helpful!
I understand that sometimes your thoughts sometimes can be slightly off the mark and that the slight delay could save you from an expensive mistake, the opposite is equally true - that the delay could cost you a potential gain. In my opinion there's no difference between using hotkeys because of this, in the end it's not about the split seconds because that is still out of your control.
Greeting to the end of this vid, you make this exact point . One thing I thought of I've seen you spend a fair amount of time doing scalping which in my opinion hot keys would really help with.
I suppose you may as well use boys to trade for you then.
Thanks for the vid!
Cheers and thanks for the thoughts.
if you slow yourself down enough ...then it not only swings in your favour dramatically ..it also swings against you dramatically.
Right, just like I mentioned.
Are you on stocktwits?
Kind of. I don't use it to talk with people though.
I have my broker connected to my Amazon Alexa. I voice command my trades...hotkeys are a thing of the past. You guys need to up your game.
Do what works for you
Historically, have you been consistently losing money in the time it takes you to grab the mouse and click on the bid/offer? The answer is most likely no, because over that sample size, you will have benefited from a better price 50% f the time. On the other hand, if you are trading in such size (your broker limit or the ladder volume limit for a single quote), then you will need hotkeys...that's why people use them, it's a necessity, not a convenience.
Thanks for the thoughts.
You can play it smarter then this... and I don’t think he says the truth. Just place your sl where you would want to exit and if it goes + just close it when you think you it’s the best
You don't think I say the truth? Sorry, I'm not sure what you are referring to.
@@claytrader sorry if I didn’t told it correctly. I appreciate your videos 😁 but I think there is more truth behind this. Like I says. Instead of making it slower with Typing. Why not have a short key and stoploss where you would exit and then TP when you see it dropping
@@BaggelasTV like I said, do what works for you. Cheers
Mouse is faster than keys due to my mouse being next to my keypad...less worry of fumbling .
Indeed
Have you ever used hotkeys and found out that it was really that faster?
Yup!
Clay, I want to get into trading. But to find a broker is an absolute minefield. The main problem the understanding of the costs. the little percentages and other "taxes" a broker will ask.
Any tips?
For the record im Dutch.
Consider this: claytrader.com/videos/trading-from-outside-the-usa-how-to-for-non-us-residents/
@@claytrader Sadly The Netherlands is not included. I will keep searching and when i have time i might apply to 1 of your free classes.
@@CrafttingMan maybe Interactive Brokers
I was literally thinking about this today..lol..
Good timing then!
personally i thought hot keys were mainly for scalping when using big position sizes....
i trade intra day and im fine with just entering it in manually...
Cheers
Hot keys are amazing and have made me tons of money, haha
Do what works for you.
Good video
i learnt to s calp on an app called
Forex game
Which taught me chart sequence patterns in
Mountain
Chart graph
I use the chart sequences in
Mountain
Chart graph to day trade too etc
But as i
swing trade options
Eg i stay in a trade for 3 weeks at a time etc
I dont use hot keys or 3 or 4 computer screens etc as none are needed
Anyone can trade the stockmarket from a free app on your phone
Thanks for watching
It took 7min to get to the point?!? This could have been done in under a minute.
Context matters.
Expert traders use hot keys ...n others don't ...it's simple ...
Oh... ok...
totally disagree with this video....you should go with what you think ..as quickly as possible...
if this guy is surviving due to him not putting the trade on fast enough..
it just means he is not a good trader...or that he has no faith in his trade decisions
Sounds like you have trading all figured out. Good job!