Lightspeed Trader Guide

Quick reference guide

We’ve prepared this Quick Reference Guide to assist you in getting acclimated to our lightning-fast, feature-rich, fully customizable trading platform. Lightspeed Trader includes many user-configurable settings and features that we encourage you to explore.

For additional video tutorials regarding the Lightspeed Trader system and the market in general, please visit Trader Education.

A Few Considerations When Using the Lightspeed Trader Demo:

  • Upon system shut down, any positions or orders are cleared out of the demo system.
  • Each symbol is “marginable” in the demo mode, however, that’s not the case in the live mode.
  • Each symbol is “Locate Required” in demo mode. In a live account “borrow ability” will be based on the specific symbol.
  • Stop orders are not supported in demo mode as they are in live trading mode.

Setting Up Your Layout:

A default layout that highlights some of the more widely-used functions within the Lightspeed Trader platform has been preset for your convenience. Layouts are fully customizable and can be easily modified to suit your needs. If you are a MAC user you will find our Mac OSX install on the website.

All windows are fully customizable. Right click in any window or click the “Gear” icon in the top right to access the configuration.

Upon logging off the trading platform you will be asked if you would like to save your changes, this will allow you to keep your personalized set up for future use. Layouts can be reverted to the default settings at any time. Layouts can also be imported and exported locally. If you made changes you do not wish to save, uncheck the “Save All Changes” option that appears at log out.

*If you are in demo mode you will be able to copy any settings and changes made to your live account when you are ready. Please contact your Lightspeed Representative to do so.

Below is a screenshot of the default Lightspeed Trader layout seen on the “Click for Equities Trading” page. The numbered sections are described in the corresponding paragraphs that follow:

1. Index bar: The Index Bar may contain index information, your marked P&L (open plus closed P&L), open positions, open orders, and more. Right-click and select Settings to customize the Index Bar. Select from the menus in the top left corner to navigate Lightspeed Trader. For example, use the Page menu to start new Pages, the New menu to open new windows, and the Windows menu to see what windows you currently have open.

2. Orders window: This window is used for viewing all orders. Green orders are complete, Yellow is partially complete, White is pending/open, and Red is canceled. You can modify this coloring or filter the window to only display specific activities such as open and executed orders by right-clicking and selecting “Change Display.”

3. Messages window: This window is a running log of Lightspeed Trader activity. Keep this window open for important messages from the Lightspeed team or for reject reasons on any rejected or canceled orders (the U R OUT…message means an order has been canceled successfully).

4. Order Entry window: The OE Window is one of several different ways you can place orders in Lightspeed Trader. You can toggle the symbol, share size, price, order type (market, limit, stop), and destination. The default destination for market and limit orders is LSPT, a low-cost route exclusively for Lightspeed Trader customers. For a list of all of the destinations users can access and the routing fees that may be associated with them, click here.

5. Market maker box – Level 1 & Level 2 Components: This window provides a comprehensive view of a symbol’s activity. The upper half of the window contains Level 1 data including the opening price, yesterday’s closing price, and the high/low for the day as well as marginability, and borrow ability indicators (for short sales). The lower half of the window will provide Level 2 information, which shows full market depth.

6. Hot buttons: The Hot Button window lets you execute any predefined or custom-made order types or commands with the click of a button. The Hot Button window displayed contains 3 preconfigured buttons:

  • Market Buy / Sell 100 Shares: Clicking these buttons will send a market order to buy or sell 100 shares using the LSPT order router.
  • Cancel All Orders: Cancels ALL open orders.

7. Watchlist window: Use the Watchlist window to monitor any list(s) of symbols. Right-click on the watchlist window to add and remove symbols, customize the window by changing fonts, or select from hundreds of available columns. Copy and paste symbol lists to or from any other Lightspeed Watchlist or from any 3rd party application.

8. Positions window: This window displays your open and closed positions. Configuration changes will allow you to sort and filter this window and add/remove columns.

9. Account Summary window: This window displays important trading statistics such as equity, buying power, and closed and open P&L. Information can be added by right-clicking and selecting “Change Rows.”

10. Pages: Lightspeed Trader allows you to maximize screen space by having multiple pages with different layouts. The Hot Button window seen here has organized 2 separate pages designed specifically for trading Equities and Options. You can also switch pages by using the Page Menu in the top left corner of your screen.

11. Chart window: Lightspeed Trader’s proprietary charting is fast and reliable. Use the buttons at the bottom of the window to flip between different time frames or create your own time frame buttons. Different chart styles are available such as candles, lines, and mountain views. Time frames, studies, colors, and chart types can also be configured by right-clicking.

Keyboard trading:

For rapid order entry, users can map any of our predefined or custom-made order types or commands to a key on the keyboard via the Keyboard Tab. Select Utilities -> Configuration Settings from the menu in the top left of the main toolbar (#1 above) to access the Keyboard Tab. You will find many predefined order types for executing and canceling orders as well as other trading and non-trading functions.

Note: Tier Size Orders are based on a default size that the user can configure in the Tier Size Tab. By default, each tier size is equal to 100 shares.

To map/unmap specific keys:

  1. Select the order/function key available in the right column.
  2. Select an available trigger key located in the left column.
  3. After selecting both an order type/ command from the right column and a key from the left column, select “map” which will be in the center of the window.
  4. To unmap, select the mapped function key located in the left column and then click “unmap”.

Things to remember:

  • Double Click on a symbol anywhere (Watchlist, Ticker Alert, Positions Window) to populate your Level 2, Chart, and Order Entry Window with that symbol.
  • Right-click in any window to customize.
  • Link a window to an individual Level 2 rather than the active Level 2, or unlink any window, using the Link menu. The Link menu is accessed by right clicking in the banner at the top of any window.
  • Your positions window is configured to display your cost basis (CB) P&L. Right click and select change columns to track intraday open, closed and marked (open + closed) P&L.
  • When your order has cancelled successfully you will receive a message in the messages window stating “U R OUT”
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© 2024 Lightspeed Financial Services Group, LLC. All rights reserved.

Equities, equities options, and commodity futures products and services are offered by Lightspeed Financial Services Group LLC (Member FINRA, NFA and SIPC). Lightspeed Financial Services Group LLC’s SIPC coverage is available only for securities, and for cash held in connection with the purchase or sale of securities, in equities and equities options accounts. You may check the background of Lightspeed Financial Services Group LLC on FINRA’s BrokerCheck.

Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read Characteristics and Risks of Standardized Options

ETFs are subject to market fluctuation and the risks of their underlying investments. ETFs are subject to management fees and other expenses.