Intro to the Sterling Trader Pro Platform for Professional Traders: Webinar RecapMay 5th 2021
By: Montana Timpson
The Sterling Trader Pro platform is a full-featured Level 2 trading platform designed for professionals who work with the rapidly moving electronic markets. Used by propriety trading firms, broker-dealers, and active traders, Sterling Trader Pro gives traders the performance and functionality they need to compete in today’s market.
One of many trading platforms available with Lightspeed, Sterling Trader Pro offers many tools and features for trading stocks, options and futures. Here’s a snapshot of some of the features and functionality of the platform from Lightspeed’s newest webinar recap.
The Sterling Trader Pro platform boasts a litany of customizable features, from fully configurable hot keys and hot buttons to personalized trade alerts and market data watch lists.
To assist with complex options order entry, and to cater to a multitude of professional trading strategies, the platform offers eleven complex option spreads, including Butterfly, Calendar, Covered Calls, Iron Condors and Straddles, with fully configurable spread order entry.
Platform customizations also include the ability to save preferred layouts, add windows, link windows and configure global order entry settings to specific preferences. In saving preferred layouts, traders have the ability to create and keep multiple arrangements, in addition to selecting which layout the platform loads when logging in. When customizing layouts, users can add, link and move windows. Watch the detailed step-by-step here, in an Intro to the Sterling Trader Pro Platform for Professional Traders.
The Level 2 window is the most commonly used order entry window for professional traders within the Sterling Trader Pro platform. In addition to order entry, the Level 2 window displays bid and ask market data color coded by price, along with the corresponding market maker and time stamp. When traders are ready to place an order, they can complete the order ticket by completing the order information and clicking BUY, SELL or SELL SHORT. Traders can also update price and side for an order by clicking within the Level 2 window or entering orders by using an assigned hot key.
Level 2 default settings within Sterling Trader Pro can help enable platform users to trade as effectively and efficiently as possible. This feature allows traders to set default destinations, default accounts and default quantity and price types, as well.
Sterling currently offers more than 80 chart studies. The charts window appears upon launching the platform in the default layout, and traders can launch a new chart by clicking on the blue and red candle stick icon in the main toolbar.
Using the top drop-down menu, traders can view multiple time frames; create interval buttons; and add, color-code and delete indicators. Traders can also draw on charts by adding desired line studies.
Hot Keys and Hot Buttons
Within the platform, traders can choose to enable hot keys in the settings window. Both pre-set and customizable hot keys are available. To create a custom hot key from the settings window, click the ADD button on the bottom left and fill out your desired values (price, account, destination). Once saved, this will appear in white in the list of hot keys.
To create a custom hot button, click the main toolbar and go to VIEW > SETTINGS > HOT KEYS on the left-hand side of the opened window. Any hot key that has been setup can be used as a hot button.
For more information on the Sterling Trader Pro platform, visit Lightspeed’s Trading Software webpage, and for more professional trading insights, check out Lightspeed’s Active Trading Blog. To watch Lightspeed’s webinars live, register for upcoming webinars here.
Active Trading with Lightspeed
Lightspeed provides professional traders with all the tools required to help them find success in stock trading, and we have been developing and honing our active trader platform to offer an optimal user experience. With the intuitive interface layouts and institutional quality stock and options scanners, we aim to help traders reach their goals, no matter what their strategy is. We also offer our clients some of the lowest trading fees in the industry.
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