How to Use Hotkeys
The advantage is that hotkeys allow you to get into trades quickly and, more importantly, get out of trades rapidly. When you set up hotkeys, for the most part, you design them for quick exits.
You usually prepare your buy orders pre-market for the Gap and Go trades or during a pull back for a momentum trade. You simply type in position size, price, and route.
Then all you need to do is hit the send button!
This makes it extremely quick and easy to prepare multiple orders. Hotkeys allow you to move around the level window without using the mouse. You can toggle to the Price, Share Size, and Route windows using hotkeys.
It’s essential to be able to lock in profits quickly. Many of the stocks we trade in the first 15-min are highly volatile. This is to our advantage as day traders, but we need to be able to sell precisely when we see the right opportunity.
For example, when you press Control+Z, you will sell full position 10 cents below the bid with a limit order. Control+X will sell 1/2 position 10 cents below the bid, and Control+C will sell 1/4 position 10 cents below the bid.
These hotkeys are all we need to press to sell shares. It’s that quick. Sometimes we will want to change the route quickly, and we can do that again by using a hotkey.