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Trade Fast Using Price Ladder and Active Trade on Webull
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Dec 16, 2022
Webull link (6 FREE STOCKS) https://a.webull.com/8ksaoiDnnHrFKov1rn The absolute fastest way to trade within Webull is through the Price Ladder and Active Trade tool. For those of you day traders or scalpers out there, these two tools are pretty much a necessity. The tool itself isn’t that complicated, but we’ll go through all the steps on how to use and customize it for your trading. The price ladder within Webull can be used to quickly place limit orders and stops, whereas the active trader is more customizable. The active trade tool can also include things like bracket orders, market orders, and tool to manage open positions. Timestamps 0:00 Intro 0:30 Price Ladder 7:04 Active Trade 8:44 Bracket Orders 13:41 Outro ➤My Website: https://shortthestrike.com/ ➤ Open a tastyworks account: https://start.tastyworks.com/#/login?referralCode=PKSKCFVD2J ➤ Start Investing with M1 Finance: https://m1finance.8bxp97.net/151KXm
View Video Transcript
0:00
Without a doubt, the absolute fastest way to trade within Webull is through the Price Ladder
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and Active Trader tools. For those of you day traders or scalpers out there, these tools are
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pretty much a necessity if you're planning on trading with Webull. Now, the tools themselves
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aren't really that complicated to use, but we'll be sure to go through all the steps on how to use
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them and customize them specifically for your trading. And hopefully by the end of this video
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you should all leave here feeling absolutely comfortable using both the Active Trader tool
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and the price ladder to actually place your trades. Coming over here and taking a look at my
0:32
current layout right now, you can actually see I already have both of these tools right here on my
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screen. But if you guys needed to add them, you would simply come up here to the three little
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lines in any one of these windows in the upper right hand corner and go ahead and select that
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We would then simply look in this drop down menu and find the button marked add a widget
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and then come over here on the right hand side and select all widgets. Coming over here to that
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actual widgets menu, we would simply come over here to the trade sub menu and we can actually
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find both buttons right here. So here's the active trader tool and down here is the pricing ladder
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To actually add those, we would simply click on it, then come over here to the lower right and
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select add a widget. We could then do the exact same thing for the active trader tool. Just come
1:14
over here to the left, click on it and come down here and select add a widget. Once we've actually
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added both of them, we can go ahead and exit out of this all widgets menu and then we could move
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them around to exactly where we wanted them. So if we wanted it to be up here on the right, we could
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drag it up and let go and then same thing for the pricing ladder. But again, I already have them on
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my screen so I'm just going to come over here and hit the X button and get rid of both of them. So
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now that we actually have them on our screen, let's go ahead and start with the pricing ladder
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down at the very bottom and it's actually pretty simple to use. Beginning at the top here, you guys
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you'll first notice that there are actually three separate buttons up here and the first of which is
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simply asking how many shares do you actually want to trade anytime you click on one of these latter
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buttons. So at the moment you can see here I currently have one share selected but of course
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I could always edit that if I wanted to bump it up to five shares or in my case I'm simply going
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to drop it back down to one. To the right of that I can then change the type of order to either keep
2:12
it as an auto order which means it's either going to place a stop or limit depending on the price I
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select, or I could switch it to limit order only. I'm going to go ahead and leave it on auto for
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right now, but I'll explain this in just a second, a little bit more in depth how it works. Now
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finally, the very last button up here at the top, which currently says order confirmation
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is simply asking us if we want the order to be instantly submitted whenever we actually click on
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one of the prices down there. So at the moment, since mine is currently checkmarked, it means a
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little pop-up window is going to come up each and every time I place a trade to just confirm that I
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actually did want to place the trade. I'll go ahead and leave a checkmark for right now just
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so you guys can see what it looks like here in a second. But besides those buttons, we can now see
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the actual ladder down here below. Looking down the center here, you can actually see a list of
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prices for that stock. And actually the current price kind of has a gray background right now
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So it's currently trading for $6.16. Looking to the far left-hand side of that pricing ladder
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we can actually see how many shares have traded at each one of these prices today
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So in this case, it looks like 694,000 shares have taken place at 616. It looks like 555,000
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have taken place at 618 and so on. All of the volume right here on the left. If we then come
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over here to the green and red columns here these are actually the bid size and ask size columns This is where we can actually see all of the open orders currently out there to buy or sell this stock And this is also known as the level two data For those of you who are not super familiar all of these bid size
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columns are telling us the open orders to buy the stock and the prices that they want to buy those
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shares for. And then coming over here to the ask size, these are all sell limit orders. So looking
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here at the example, you can see I currently have 618 right here and it says right now there are
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23,000 shares that people are trying to sell at $6.18. Coming down and looking at $6.14 here
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you can actually see there are open limit orders to buy 17,500 shares at $6.14. Now in terms of
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actually placing the trade using this ladder, it's actually incredibly easy. We'll simply put
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our mouse to the left or right of the price that we want to buy or sell at, and then we would
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simply click in that box. So as an example, we can see here that SoFi is currently trading for $6.06
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16 cents. And let's say I only wanted to buy this one share of SoFi if it actually dropped down to
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let's say, $6.02. Coming here and putting my mouse just to the left of that current price, $6.02
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If I were to click in that box, it's actually going to confirm that I actually want to buy
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those shares. So right there, you can see as soon as I clicked it, this little order confirmation
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box appeared over here on the left-hand side, just confirming that I did in fact want to buy
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one share at 602. If I were to actually come down here and hit the buy button, you can actually see
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the order has been submitted and I can actually see it right here on my little pricing ladder
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or up here on the chart. To cancel that out, we'll simply come over here to the little X button on
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the right hand side and just go ahead and click on that. We'll then just hit OK to confirm that we do
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in fact want to cancel this order. And now if I wanted to make that a little bit quicker, I could
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come over here and deselect the order confirmation box. You'll again get a little pop-up window just
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confirming that you did want to skip all order confirmations going forward. And since I do
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I'm just going to go ahead and hit OK. So now that I did that, now that I have the order confirmation
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box deselected, anytime I click on one of these boxes down here, the order will be instantly
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submitted. So now if I were to do the exact same thing as before, let's say I wanted to place that
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order now at $6.04. Coming over here to the left and clicking on that current price, you'll see
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that the order is instantly submitted and I can also see it right up here on the chart page. I'll
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again go ahead and click on the X button just to cancel it. We'll go ahead and again hit the OK
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button to confirm that I did actually want to cancel it. And that's really it. You guys can
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place trades with this thing incredibly fast. Now the button I mentioned earlier that we currently
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have set to auto simply means that it's automatically going to adjust the order type
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to either a stop or a limit order depending on the price that we set it at. So as an example if
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we were to put our mouse to the left and below the current price you can see there that it is
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defaulting to a limit order. If I were to actually scroll up and go above the current price you can
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actually see the order type flips over to a stop. So again on the buy side if I'm putting in the
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order below the current price it's going to default to a limit. Above the current price it's going to
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default to a stop. Then coming over here to the right hand side in the sell side you'll see it's
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actually completely opposite. So when I'm above the current price it's a limit order. When I go
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below the current price, it's a stop order. Now, if you guys wanted to change that for some reason
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and you only wanted to place limit orders in here, you could come back up here to the type
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and flip it over to limit order only. For me, I'll actually generally leave this as auto. So let me
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come back up here and flip it back over to that But that the pricing ladder Nothing too crazy but it is a great way to place your trades very very quickly Now taking a look right above that we actually have our active trader tool which is actually a lot more customizable than the pricing ladder
7:12
Here at the top, you can see I currently have two large market order buttons to either buy or sell the stock using market orders
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Then looking right below that, you can see the same quantity box as before to adjust how many shares we're trading anytime we actually click on any of these buttons
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So at the moment here, you can see I currently have one share in there, but you guys could change that if you wanted to
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Let's say we wanted to adjust it to 50. Go ahead and type in 50 here, then come over to the left and hit this little checkmark box
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And now you can see both of these buttons have adjusted to 50 shares
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To change it to one share, we'll simply come down here, change that from 50 to 1
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and we'll hit enter. You can now see that it says buy one share or sell one share at the market price
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To the right of that, just like the pricing ladder, I do have a box for order confirmations as well
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So if I were to checkmark that, that means I do want to get an order confirmation
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anytime I click on any of those buttons. Or I could leave it as deselected, which means anytime I click those buttons
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the order will be instantly submitted. We'll go ahead and checkmark it for now so you guys can see what it looks like
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and it'll look very similar to the previous example. But besides that, we also have a cancel all button
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which will cancel all and any working orders on this particular stock. Then to the right of that, we have the close button
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which will close us out of our entire position at the market price. We also have an orders button and a positions button right here
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which will show us if we have any open and working orders, and if we have a position and how many shares we currently have
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So as of right now, these buttons are pretty straightforward. They're not doing anything crazy
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but you guys do have the ability to customize them if you wanted to. So in order for us to actually add or adjust these current buttons
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we'll simply come up here to the three little lines in the upper right-hand corner, Go ahead and select that. We'll then come down below and select the active trader settings
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Once that settings menu opens up we can actually see check marks next to all of the buttons that
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we currently have visible and if I scroll down you can see all of the others down here. So quantity
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order confirmation, and all of the others right here. But if we were to scroll up you'll actually
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see there are a lot of different things that we could add to this and you'll even see that there's
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ones for options but I'll be saving that for a later video. So right now we will be focusing on
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the stock order button. So let's come back up here to the top. And what I actually want to do
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are add a few buttons that place multiple orders all with one click, kind of like bracket orders
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So for example, let's say when I'm trading, I like to automatically put out a profit taking
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order 10% above my opening price, as well as a 5% stop to protect myself against excessive losses
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Well, what I could do to actually create that is come over here to the left hand side and select
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the button marked buy customized. I could then come over here to the right and fill out my parameters
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just like before and this top section is the opening trade first off. So right here it's saying
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I'm going to be placing a limit order but I could flip that over to a market order if I wanted to
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I could also come over here and adjust the share quantity but I'm going to go ahead and leave it
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as one for right now. Looking right below that I could actually specify where I want this order to
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go in at. So again this top section is the opening trade and as of right now I'm saying I want the
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opening trade to be based off the bid price and I want it to go in 25 cents below whatever the bid is
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So for example, if the stock was currently trading for a dollar and the current bid was a dollar
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if I were to hit send right now my order would go in to buy it at 75 cents So that be 25 cents below the current bid price I could also come down here and change the time and force and make it good for the pre and post market if I wanted to But then more importantly I could actually come down here and specify my stop loss order and my take profit order Now in this case
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they are both checkmarked, which is actually exactly what I want to do in this case. And
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we'll come down here to the stop price and we'll flip that over to 5%. And then coming over here to
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the limit price, I'm actually going to leave that set to 10. So now what I'm essentially saying is
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I want to put in an order to buy one share, 25 cents below whatever the current price is
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And then if that order ever fills, I want to put out a 5% stop or a 10% profit taking order
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So now that I'm happy with that, we could either hit done, or we could come over here to the sell customize button and do the exact same thing
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if we wanted to build it out for short positions. So let's go ahead and do that just to have it in here
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We'll change that from 100 shares to one. I'm going to go ahead and paste this off the asking price this time
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and we'll go ahead and set the offset to plus 25 cents
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So you'll notice I'm kind of flipping it around a little bit. I'm gonna make this one plus 25 cents
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I'm also gonna make it a day order, not for the extended session. I'll come over here and make the stop loss order
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and take profit order just like the previous example. Now that I'm happy with that
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I'll simply come down here and select done. And now looking up here, we can see those brand new buttons we just added
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So now to see an example of that, let's actually say I did wanna place this bracket order
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I'm going to come up here and actually click on this button that says buy one at the bid minus 25
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cents. You'll notice since I do have that order confirmation box check marked, it does bring up
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the order confirmation, just confirming everything looks right. So right here it's saying the order
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is going to go in at 590 since that's actually 25 cents below the current bid. We can then see my
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stop is going to go in at 561, which is 5% below this price. And my profit taking order is going
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to go in at $6.49 which is 10% above this opening price. Now in my case since I do actually want to
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place this trade we'll come down here and select buy and now you can actually see that order ticket
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right on our chart. So right here we can see the green ticket to open the trade and then our profit
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taking order at 10% and our stop loss at 5% right here. Now if I wanted to adjust those I could
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actually click on the order ticket I wanted to adjust and actually drag it up or down. So in this
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case if I were to click on this and drag it down to let's say 583 and if I let go of it you'll
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actually see an order confirmation appears just like before and you can see it's adjusting it
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down to 583 and if I want to place that I'll simply hit buy. I could also come over here and
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hit the x button to cancel it or come over here and select cancel all to cancel them all as well
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So in this case I'll go ahead and do that. I'll then just need to come over here to the left and
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confirm that I did want to cancel all the working orders and now if I wanted to place that even
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quicker, I could come over here and deselect the order confirmation box. Then just confirm that I
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am aware of the risk by selecting okay here. Now heading back over and selecting that buy one at
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the bid. If I were to do that, you'll see the order tickets are instantly submitted. So as you can see
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this is an incredibly fast way to place your trades within Webull and you guys can really
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customize this active trader to whatever type of trading style you like to use. But hopefully you
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guys see how useful these tools can be for you day traders out there and hopefully you all feel
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a lot more comfortable with them after this video. I have made a bunch of other tutorials on Webull
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and I'll continue to make them, so definitely check those out if you guys wanted to learn more
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Now if you guys did have some other questions for me, please leave them down below and please
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consider hitting that like button if you did find this helpful. But that wraps up today's video on
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these trading tools. Have a great rest of your week everyone and I'll catch you on the next video
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