Discover TSTrader®: An Introduction

This article is a summary of the YouTube video ‘Introduction to TSTrader®’ by Brian Weber

Written by: Recapz Bot

Written by: Recapz Bot

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How does it work?
The TopStepTrader platform offers a drag and drop interface, trading options, alerts, search bar, account reports, exit button, application settings, news feed, chat support, tutorial videos, customization of charts and modules, and promises more in-depth coverage in future videos.

Key Insights

  • The video discusses the features of the TopStepTrader platform used in trading combines and as a funded trader.
  • The platform offers a drag and drop interface to add modules like quote board, chart, dom, performance center, activity log, and orders.
  • Trading can be done through the trading tab, either simple or advanced, but dom or chart trading are preferred for simplicity.
  • The platform has the ability to create alerts and view active alerts.
  • A search bar allows users to search for specific products and provides information and basic charts on them.
  • Account reports provide performance breakdown, order and position history, P&L for the day, open positions, net liquidity, and daily loss limit usage.
  • Equity, open P&L, and total P&L for the day are displayed.
  • A button to exit all positions and cancel orders is available.
  • Application settings include configuring themes, privacy mode, auto roll contracts, notifications, hotkeys, and devices.
  • The platform includes a news feed, chat support, tutorial videos, and notifications.
  • Reports, community indicators, and trade reports are accessible.
  • The platform allows for customization of charts, including contract details, trade mode, and bracket orders.
  • Additional charts and modules can be added and arranged according to preference.
  • The video concludes with the promise of covering specific features and providing expert knowledge in the next few videos.

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Transcript

Hey, what’s going on everyone, it’s Brian here with another YouTube video and in this series of the next couple of videos I’m going to be creating we’re going to talk about the TopStepTrader platform that the TopStepTrader company will offer you to use in their trading combines and eventually when you become a funded trader and we’re just going to give a whole breakdown of the type of features that are included in this platform and how to use them.

Now TopStepTrader like I said does offer this platform in their combines and you might want to pick this platform to use because it’s very simple and easy to customize as you’ll see in the next few videos and I think most importantly there isn’t any cost to you to use this platform and there are no commissions once you’re in a funded account but you will have to pay exchange and data fees but that’s the same for any platform that you use.

So first let’s just take a look at what we got here on the platform here. So if we start from the top left we have a button called add modules and if you click it this is where we can add, it’s a drag and drop interface, this is where we can actually add different modules like quote board, chart, your dom, performance center, activity log orders and so on and so forth you can even see your positions and right now I have, I’m using a workspace template which is just beginner layout that I have created I think was a default given to me from TopStepTrader when I signed up for the demo account and let’s go to the right a little bit here this is a trading tab where you can actually put in an order you can do simple or advanced it’s not my preferred way at all to put in order on this platform as the market moves too fast you’re not going to be able to really get the order in unless you’re more of a patient trader but a lot of people like to trade from the dom or the chart makes it a lot more simple.

Right here we have the alerts you can actually create an alert either simple or advanced and I’ll make another video on actually how to do that and this tab will just give you the list of active alerts that you have open here we have a search bar which is pretty awesome you can pretty much type in anything here say that’s ES and the month and the year hit enter and it’ll bring up all the information about that it has a chart I think it’s a basic moving average on there I’m not sure what period is but the basic the best information you get from that is all the information about the product that you search so let’s exit out of there so let’s keep going to the top right and this will be our account number so we can actually do a chart replay where you can back trade and I’ll make another video as well about that if you do hit this gear box this will bring you to your account reports which always give you a breakdown in performance your orders your position history and cash history also list your total P&L for the day your open P&L any open positions that you have your net liquidity and what percentage of the day loss limit they use so far and going a little bit more to the right we have the equity currently this is the $50,000 account trial so you’ll actually see the equity here open P&L as well and the total P&L for the day and this button right here exit all positions cancel all is essentially a flattened button so if you’re in a position and you have open orders it’ll essentially close out your open position and cancel all those open orders as well so it’ll leave you with nothing on the ladder so you don’t have to worry about accidentally getting filled on a trade so here’s the daily loss limit just nice there for your information so if you click that it’ll also bring it to your account reports so next up let’s just go down the right side here and then we’ll get into the more fun parts of messing with modules so this is the application settings so if I click that this is a bunch of different things that you can configure for your settings on the platform itself like changing the theme privacy mode so on and so forth you can also do auto roll contracts it’s off right now for me you can set the type of notifications that you get different add-on tools that you want to use if you prefer to using hot keys you can set those hot keys and then the types of devices that you have under your account so here we have current news which is pretty helpful you can pin that if you want using this button but I’m going to unpin it so it’ll give you all it’s like a nice news feed I don’t personally use this I use financialjuice.com it’s a free news clock I don’t really know how it compares to this I can’t really say much but more or less that’s how you get your news as it comes in you have a chat here this will take you to the topset traders help help website some tutorial videos it’s not fully extensive but there’s some good ones very basic that the topset trader supplies to you guys you get your notifications right now I don’t have anything and then nothing really else to I guess there are a couple more things here reports will bring you the accounts reports there’s a couple ways you can actually get to that page community indicators if you into looking at what people have have developed you can actually install these indicators and use them on your chart and then your trade report so that’ll bring you to your dashboard and this is my demo account so I won’t have anything I do have a pro account right now but I’m it’s actually through Sierra charts so I won’t be able to show you tops of trader platform and this is why I’m using my demo account here.

So next up let’s take a look at this default workspace that I have here we have a chart ESM 0 that’s the M contract 2020 this is the year and it’s an hourly chart and then you can actually change some of the settings on the chart by clicking here you can choose to look at the contract details or not I prefer to have that their trade mode will actually if you unclick that it’ll get rid of the buy and sell buttons we can keep that there for now and also if you want to set bracket orders right here on the chart I’ll make another video on how to actually do that if you want a full size that particular chart you just click that button and then click it again to bring it back to where it was on the template if you want to close it there’s the close button you can also close it over here so if I want to create another chart I can just click on this plus button for a new tab and say I want to do nq and zero hit select and then that’ll essentially give me the same exact chart as the ES one over here but the NASDAQ features so down here at the lower left we have orders so if you don’t know how to get these things there’s the orders button right here you essentially get out of that really quick if I wanted to close this get rid of it and then I wanted to add the orders there I would find it right here click and hold it down and then drag it right to the positions here right next to it you can see as I’m dragging it around where I can actually drop it it’s all highlighted so I’m going to drop it back to where I had it before let it go let the mouse go and then there we got the orders here’s our positions that will show us any open positions that we have you can actually switch between standard and compact so what else we got here we got a quote board that pretty much will list any of the tickers that you add to that quote board and you’ll be able to see what the current price is the change percentage for the day with its up or down and then I have a DOM here which let me get rid of that and I’ll just show you how to add it again if I want to add a DOM to the right hand side click on DOM hold the mouse down and slide it all the way over here and I want to do NASDAQ select and there we go so I can actually I don’t want the DOM to be this big so I’m going to actually move it over here to give the chart a little bit more room and there we go you can actually lower this stuff a little bit more too so you have more chart chart room so you can see the price action a little bit better overall this is a very easy user-friendly platform to use and the next few videos I’m going to cover in detail how to actually use the specific features on this platform so you’ll be able to trade in your combines or if you’re a fun and trader with confidence if you’re not sure how to use this platform you’ll be able to pretty much be an expert after watching these next few videos try to make them nice and short and sweet between five to ten minutes should all that’s all it should take and look forward to sharing the next video with you guys if you haven’t subscribed go ahead and click that subscribe button you receive notification anytime we upload a new video and we will see you in the next one all right take care guys thanks bye

This article is a summary of the YouTube video ‘Introduction to TSTrader®’ by Brian Weber