3 Must Enable Settings For Day Trading with TD Ameritrade

what's up everyone ross here from warrior trading so in this video i'm gonna walk you through the three most important settings that you need to enable today if you're gonna use TD Ameritrade thinkorswim for day trading you know what these three settings are gonna do they're gonna make you a faster trader and a faster trader is a more accurate trainer and a more accurate trader typically is a more profitable trader so if you want to be more profitable you better enable these three settings today and that's what I'm gonna walk you through during this video as always if you have questions please leave them below any comments leave them below I respond to every question comment post on my channel if you like these videos thumbs up and subscribe to the channel alright let's get into these three most important settings all right so you want to use TD Ameritrade for active day trading that's awesome the Commission's are free but you've got to make sure you enable these three settings in order to make the most of the platform I've been using TD Ameritrade a little bit on the side and today I'm up five thousand nine hundred thirty six dollars and 67 cents which is an awesome day so you can absolutely day trade in this platform is not quite as fast as the direct access platforms that I like to use but it's adequate you know you can work with what you've got and the free Commission's is definitely a compelling offer so the first setting that I want to show you go into setup and then go down to application settings now if you go down to system right here what you'll notice is that I have my quote speed set to real time that makes sense right real time quotes well it does make sense however by default I believe it's set at moderate maybe it set it fast but it's definitely not set at real time and that's probably okay for people that aren't particularly active traders who maybe are taking a trade every now and then their computer will run a little faster without this updating in real time but for us for day traders those of us who are trying to take quick trades we need real time quotes so you want to go into settings system and change that to real time alright so apply so that's done so now my quotes right here gonna be updating in real time now I'll do a separate video where I talk about why I kind of have this setup the way I do you know the without the level two and using this active trade and everything else I'm gonna do a totally separate video on that it's gonna include a link to download my shared workspace so if you want to pop this right up on your layout and and see how I look at it you can do that and you're welcome to it so I'll put a link in the description below for you guys to check out that video on setting up the TD Ameritrade it from from a perspective of layout now the second setting go back to setup go to application settings and you want to go to active trader and what you want to do is you want to change the active trader order submission rate limit to zero by default it's set at 500 and what that means is that if you double click this right here like that it will not send two orders the way this works and I don't want to send an actual order and I could put it at one share I guess that's mom I don't even really want to do that and let me let me pull up a different stock Sirius satellite radio this has a very tight spread okay so um so if I click this I don't think it's actually not going to work after hours and but so they're you know I click the Buy market and if I click it a second time third time see how this is changing to three so if I go one two see how quickly the orders moving up I want that because I want to be able to trade really quickly alright so let me go here I'm gonna cancel all these orders alright so they're cancelled out now if you have this application setting by default set to 500 what's gonna happen is you start double clicking and it's gonna pop up this after the first order and that happened to me and I was like you know son of a gun I want to be jumping in this stock this thing's slowing me down cuz now I've got to click here and then you know I click it again that comes up again so that's when I learned I'm gonna go cancel all to go into setup application settings and then change this active trader to zero it'll make the platform accept your orders instantaneously so if you want to take 10,000 shares with 10 clicks you can do it you want to take 10 shares with 10 clicks of a one share you can do that too and with zero Commission's you know no reason but why why you might not want to all right so now the last setting I'm gonna log out here and I'm gonna bring up the login window because this last setting is actually on the login window alright so let's pull this up here alright oops there we go sorry alright so this is the login window for TD Ameritrade and what you want to do is you want to click on this little Settings button and you want to change your memory usage from typically I think it'll be like this and you want to increase this I increase mine - 61-44 now I don't want to go all the way up to 26 71 I don't want Ameritrade to be using a ton of resources but I want it to use enough resources that it runs quickly and performs well alright so I bumped it up from thirty to seventy eight to thirty to sixty four alright and now it runs really fast and if you want to see how fast your runs let me pull up this video of me trading today where I made just about six thousand bucks and I will show you how fast these orders were executing hang on let me just grab this alright so now today I actually was trading in two accounts at the same time on the left side I've got my Lightspeed account and on the right side I've got my TD account and with TD I have this layout kind of minimized to just the way I want just just exactly what I need and nothing extra alright so let's look for you can see right here my position size is zero and actually well I'll get into I'll get again I'll get into more of why I'm using this way in terms of layout in my layout video alright so let's see did you - Gigi Gigi to do - alright so looks like I'm about to click the Buy button here three times so let's watch this so just like that I clicked three orders for 1000 shares see that three clicks and just like that I'm in that's the type of speed that I want and let's look at the price so it's 78 by 84 right now and I just click the Buy button at 84 and check it out I filled and I'm filling at 82 that's an awesome fill 83 okay a little on the higher side and the rest is in I filled the whole thing in a t-33 so I got a pretty good fill on that order instantaneous I mean very close to instantaneous considering I was doing a buy the ask and not a market order now the advantage of doing a market orders you will fill the whole thing the buy to ask it slowed for a second because the order the spread was 84 by 87 and my order was at 84 and but I won't risk on a stock like this suddenly paying nine dollars and 15 cents because it ripped up you know without me or whatever so here we're gonna get this stock breaking up so what I'm gonna do here on my exit is I'm gonna place orders let's see let me just go back a little bit so right now it shows I have no working orders and so I'm gonna scroll up on the ladder this is the the active trader ladder and I'm gonna go place a couple orders on the high side I pop one at 21 at 24 alright so now I've got a couple orders a couple sell orders out there they're ready to execute now all I need is for the stock to rip up to that level of 20 and 24 but because I've already put them out there and I was able to do it as quickly as tapping just like that check it out that order filled at 20 just like that it filled at 20 and I'm out and I've got the other one at 24 it hasn't executed yet oh I put it up just a little too high but I expected the break there would potentially give me that nice move and on this one you know I got it on the first and I'm looking for that second execution and they're I guess I took an order out at 18 I've got another order they're still at 24 I'm gonna click cancel all now we're 20 by 25 look at that so this stock I've got now a thousand shares at 884 for the record I will continue holding this up to ten I'm still holding 250 shares now it's an 11 still holding now I'm holding 50 shares and the stock is at 11:45 pretty impressive so can you day trade with TD Ameritrade the answer is yes absolutely but you've got to make sure you enable those settings and you want to make sure you've got the layout dialed in so you can trade quickly because it's not quite as intuitive a platform as Lightspeed over here where you can type in your order price and just click the Buy button it takes a little getting used to and I you know I'll be the first to admit that I wasn't the quickest to warm up to it but I have been pretty impressed with it so I encourage you guys if you want to get a copy of my layout check out the link in description below which is I'm gonna jump you over to the video where I break down my layout how I've got this set up and I'll talk a little bit about the charting perspective as well all right and if you have some tips of things that you guys do to get this platform to work even better maybe a couple settings that I haven't thought of yet leave them down below in the comments all right thank you guys I hope you enjoyed the video and I will see you next time you want to learn more about trading check out some of the links in my description and if you have questions ask them in the comments I personally respond to every question post it on my channel and don't forget to subscribe [Music]

Channel: Warrior Trading

Views: 468,558

Rating: 4.9145141 out of 5

Keywords: day trading, day trading strategies, trading strategies, how to day trade, beginner trading strategies, momentum day trading, stocks, trading, how to trade, stock trading, penny stocks, pdt rule, shares, float, volume, candles, profits, Wall St, finance, brokers, Ross Cameron, warrior trading, day trade warrior

Id: Gzt6mM3Iuyo

Length: 10min 35sec (635 seconds)

Published: Sun Nov 17 2019