When it comes to trading, I found it much more easier and quicker to execute orders by using hot keys. I am slow with mouse and very often I can miss entries or miss exits, what is even worse if the trade is going against you.
Hot keys are good option if you got to get in and get out of the trade quickly.
I gonna walk you through how to set up hotkeys on ZeroPRO platform.
Lets start by opening the platform… Hot key settings you can find inside the Main menu by clicking Hot Keys button.
Then we will see window like this.
BUT WE NEED TO GO HERE
So here is our main Hot Key settings window.
I have put my hotkeys on Keyboard NumPad but you can put them how ever you like and is comfortable. I have changed a lot of layouts through all my trading journey and this suits me the best.
If I need to get in quickly then I usually buy on ASK and Sell or SHORT on BID. If I got more time then I usually send out orders with mouse on LV2.
Lets go through each of options and what do they mean…
If you want to skip this and see my setup – scroll down…
Remember – you must be focused on Chosen stock LV2 window to execute
your chosen Hot Key on keyboard
Any name what suits execution and is easier to find later. Example – BUY 1000 ASK
Window Load – This will send out order setup at chosen LV2 window. You still can change share size and price and then execute by pressing ENTER. (I think this option is too slow for me, so I am using Hot Key execute)
Hot Key Execute – This will execute the order without confirmation window (usually I am using this option to get in and out quickly)
Window Execute – this basically sends an order for whatever settings are set in the currently focused Level 2 window
Cancel – with this one you can cancel your First, Last, …, (depend what you choose under TYPE section) I Think you should set up Hot Key to cancel last order. For example it can be ESC key.
Incr/Decr – here you can set up your arrow keys to increase or decrease share quantity and adjust price on focused LV2. For example you can put arrow UP key to increase price by 0.01 increments, down arrow for decreasing. Arrow left for share increasing, for example 100sh and right key for decreasing.
All out – haven’t tried this one yet but I suppose it works like PANIC BUTTON. It gonna send out MARKET ORDER to close any position what you got open at the moment. Just be careful with this one, haven’t tested it out myself yet.
Quantity of shares you buying or Shorting. (100; 200; 500; 1000; ….) If you are selling LONG position or covering SHORT position, I would recommend to change Quantity Type to POSITION. Then you can sell or cover, for example 50%, 70% of your starting position and get out by partials. To get out with full position use 100%.
Here you have order types.
MKT – send out MARKET order to execute order for market price (Market orders takes a lot more time to get executed and the price is usually not the best. But I would recommend to put some hot keys to get out of trade in case of emergency. If something goes wrong with your limit keys and you start to panic, press your sell all or cover all market hot key)
LMT – send out LIMIT order on specified, exact price what you want. (I would recommend to use these orders because you can get in or out with price you want not what market makers decide to if your using market orders)
STOP MKT – stop out with market order on your specified stop price
STOP LMT – stop out with limit order on your specified stop price
MKT on close – I suppose its closing your position when market hours are finished
LMT on close – the same, just with limit order ( havent used these two and don’t recommend)
Pegged – Have no idea what does it mean
I usually just use DAY(executes orders at market time, NO pre market and after hours) and GTX (executes any time)
I just have access to their SMART route. Probably if you ask them you can get access to any routes. With my trading its enough with their SMART ROUTE.
Here is the option where you can change share quantity or % Position as mentioned earlier at Quantity
The price you want to execute order on
User loaded – Use the price what you have previously loaded on LV2
Bid – Execute order on BID price
ASK – Execute order on ASK price
Last – not sure on this one
Entry price – execute order on your entry price. For example put an order at your entry price to break even
The same as on PRICE just for Stop orders
What you want to do with your order. BUY, SELL, SELL SHORT, COVER. Bare in mind that we use SELL SHORT for SHORTING and COVER to buy SHORT position.
I usually ad 0.020 to my hotkeys, because if you don’t add offset order might not get executed. While you press the button price is already different and you got missed fill.
Here you can see how I have set up my Hot Keys. It’s just an example, how it looks like not an advisement to set them up exactly the same way 😉
If you liked my post don’t forget to share it.