Trading in Active Trader Pro | Fidelity

Trading in Active Trader Pro | Fidelity


Active Trader Pro lets you trade the way you want by offering a full range of trading functionality for equities, ETFs, mutual funds, and options. Use the single trade ticket or more advanced tools to quickly place trades. In this video you will learn to leverage Active Trader Pro’s single, multi-trade, and directed trading capabilities to enhance your investing experience. In a separate video, learn about Trade Armor, a way to explore and visualize potential profit and loss scenarios to help make trading decisions and manage risk.

The single trade ticket is compact, easy to use, and accessible from multiple locations. For example, you can select the Trade icon in the top navigation or launch it with a single click from other tools, such as Positions or Quote. Let’s get started by selecting Trade & Orders, then Trade. In the Trade window, begin by selecting the account you wish to trade from. Your default trading account along with many other preferences may be set using the features in Trade Settings. Notice, when viewing your account information that both margin and non-margin buying power are immediately displayed. Next, enter the symbol you wish to trade. Remember the single trade ticket supports equities, options, ETF’s and mutual funds. For example, let’s use EMC. Once the symbol has been entered, a streaming quote will display at the bottom of the ticket to help determine the right time to place your order.

If you no longer wish to view the quote data, this portion of the window may be collapsed. Select your Action, let’s place a sell order. Enter a value in the Quantity field. Notice, your held position quantity is displayed along with a button which allows you to access tax lot information, if applicable. If you’d like to identify specific lots for tax reporting purposes, select the LOTS button. Now, choose an Order Type. Let’s select Limit. Depending on the selection, the relevant fields below will change dynamically.

For a Limit, the remaining fields to complete include: limit price, a Time in Force, as well as any Conditions that you may require. Once you have completed all the necessary fields, select the Preview button to view your trade. If you wish, you can adjust your Trade Settings to skip the trade preview and the trade confirmation steps. Now you are ready to place the trade, or go back and make changes by clicking edit. After placing the trade, an order confirmation number is displayed along with quick links to New Trade, Set Alert, Orders, and Trade Armor. Taking this one step further, click the Orders link to view your order status. Here you see all open orders, as well as any cancelled or executed orders from today. To view only orders with a specific status, right click, select settings, and select the statuses you wish to view. You can also choose to display each order on a single or multiple line. You will notice that some orders have a green icon to the right of the Order Status.

This denotes price improvement, which is an indication of the dollar savings received versus the quote at the time your order was submitted. Fidelity works with market centers to ensure that you receive the best possible execution quality. Mouse over the icon to see the amount of price improvement you received on the order. Let’s move from the Trade Ticket to the Multi-Trade Ticket. This feature allows you to easily handle multiple trades at once or store multiple trades. You can stage and save up to 50 trades and then choose which orders to place and when. Click Add Order. Notice that a new row appears. Begin by selecting an account. and easily tab from one field to the next to enter the details for the order. This includes Symbol, Action, Quantity and Order Type. Based on the order type, only relevant fields will display. For any order that is partially entered, any missing details will display in brackets. Let’s look at an easy way to seed multiple symbols or positions to the multi-trade ticket.

From Watch list or Positions, use the shift key, then click or the control key then click to select the securities you’d like to trade. Then right click and select Trade. Your selected securities are now added to the Multi-trade window. You can submit one or many orders at once. To do so, simply select the appropriate check boxes to multi-select your trades. To delete an order,again, select the appropriate check box and then click on Delete Selected Orders. Any orders left in the multi-trade ticket will be automatically saved,even after logout. Another powerful tool within Active Trader Pro is the Directed Trading, which offers direct access to exchanges, ECNs and advanced routing algorithms. This ticket also gives you Extended Hours Access to the markets, from 7am to 8 pm eastern time. You will notice the integrated depth of book displayed at the bottom of the directed trade ticket.

This feature gives you insight into liquidity both at and away from the inside market for the security. Time and sales is also integrated and displayed to the right of the book for a clear view of trade size and price as transactions take place. You can locate historical time and sales under the Quotes & Watch List menu. Click on the order book to populate your trade ticket with action, quantity, and route. Directed trading offers a variety of routing destinations such as Archipelago and NASDAQ, but also offers advanced, intelligent order routers like the Fidelity Dynamic Liquidity Manager (FDLM) that attempts to provide access to displayed liquidity through ECNs and Exchanges as well as non-displayed liquidity through “dark pools”. The directed trade ticket also supports advanced order types, such as reserve and pegged orders. For example, use reserve orders to hide your order size from the market. You can enable advanced order types from within Directed Trade Settings. Right click to access the Settings options, and then select the the Order Types tab.

Another tip in the Settings is to create short cut buttons that will be displayed on the directed trade ticket allowing single click order entry. Simply follow these steps: Click the plus sign, select a shortcut type, enter a quantity, and select a route. Then click Apply. Active Trader Pro’s powerful trading capabilities allow you to quickly capitalize on your decisions. Leverage the different tickets and custom settings to make the most of your trading experience. .