Welcome to the Advanced Module of Advanced Stock Market Trading: Using Hot Keys. In this lesson, we’re diving deep into what is a hotkey, how traders use them, and why mastering your trading keyboard can give you a significant edge in fast-paced markets.
A hotkey is a keyboard shortcut programmed to execute a specific trading command—such as placing an order, canceling trades, or switching charts—instantly with a single keystroke. Rather than wasting time on multiple clicks, hotkeys streamline your workflow, increasing execution speed and reducing costly delays.
The key benefit of hotkeys is speed. They allow you to react instantly to changing market conditions, improving your chances of entering or exiting trades at optimal prices.
Fast Order Execution
With hotkeys, you can configure commands like:
- Buy X shares at market
- Sell X shares at a limit
- Cancel all open orders
This eliminates the need to manually input order details every time you trade.
Improved Risk Management
You can use hotkeys to quickly:
- Close all positions
- Cancel your last order
- Reduce position size (e.g., close 50%)
These functions are critical when markets move against you or in volatile conditions.
How to Set Up Hotkeys
The Two Parts of Every Hotkey
- The Action – what the key will do (e.g., buy, sell, cancel)
- The Keystroke – which key or combination triggers the action
Most trading platforms, including Speed Trader Pro, allow hotkey configuration through their Setup > Hotkeys menu. You can select from pre-set actions or write custom scripts to suit your trading style.
Tips for Configuration
- Avoid overlapping with default system keys (e.g., F5 for refresh).
- Use logical, easy-to-remember combinations.
- Don't overload your setup—use only the hotkeys you need consistently.
Common Hotkey Commands
Buy Side Examples
- Buy X shares at market
- Buy X shares at Y cents above bid or ask
- Buy X shares at midpoint of spread
Sell/Short Side Examples
- Sell X shares at market
- Sell X shares at Y cents below bid or above ask
- Close X% of your position
- Refresh chart
- Zoom in/out
- Switch trading windows
Order Management
- Cancel all orders
- Cancel last order
- Close all positions
- Adjust volume or limit price on existing orders
What is a Hotkey Summary: Mastering Your Trading Keyboard
Understanding what is a hotkey and incorporating them into your trading system turns your keyboard into a powerful execution tool. Hotkeys enhance reaction time, reduce input errors, and allow for laser-focused control over every trade.
Want to become faster, sharper, and more efficient with your trading strategy? Start using hotkeys today and take full control of your trading experience.Level up your trading now — try PROP365 and start customizing your hotkeys today.
