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ANDREW MCGOWIN: Hello, everyone, and welcome to today's event, Active Trader Pro to Fidelity Trader+, the next chapter in your trading experience. Happy to be with you all today. My name is Andrew McGowin, part of the Trading Strategy Desk here at Fidelity. The purpose of today is taking a look at our brand-new suite of trading platform, Fidelity Trader+. We'll be looking at, of course, Fidelity Trader+ Desktop specifically for the users who are recently migrating from our Active Trader Pro.
If you've been using Active Trader Pro for many years, as I have been, well, today's event is really focused on what is new, what is updated within the Fidelity Trader+ experience. So happy to be with you all today. Once again, my name is Andrew McGowin, I am part of the Trading Strategy Desk. And again, if you've been recently making that change from Active Trader Pro to Fidelity Trader+, we've got a great landing page for you on Fidelity.com. Whenever you want to pull that up, we have the QR code up for you to scan. That will take you to a migration page specifically dedicated to that Active Trader Pro transition.
But as mentioned, the gist of what we will be discussing today will be taking a look at all of the new and upgraded features within Fidelity Trader+. For the users out there, who are maybe experiencing it for the first time, but also even more so the users who are transitioning from Active Trader Pro. Joined today by my friend and colleague Peter Janssen for today's event. As mentioned, we'll be taking a look at a broad variety of different things, answering questions along the way. But first and foremost, Peter, how is your day going? If you want to introduce yourself for the crowd.
PETER JANSSEN: Hey, day is going well and looking forward to this session. Anytime that we have a new platform, new tool, new resource, it's exciting to go ahead and try to share that. It's been with Fidelity almost 17 years, so around the block and was here when Active Trader Pro was the new latest and greatest, the shiny new platform that most everyone wanted to use right away, and even some colleagues of mine and teammates wanted to go ahead and still use the previous version at that point in time. But once they turn the corner and embraced Active Trader Pro at that point in time, and many of you that are looking to embrace the Fidelity Trader+ at this point in time moving forward. I think that there are a lot of improvements that will make you much more efficient, either from a management standpoint, from a idea generation standpoint. So certainly looking forward to breaking down the latest and greatest that we have to offer.
And also, I think, put everyone's mind at ease that there are some tools that I'll cover and that Andrew will that haven't changed too much at all. So, something new, of course. Yes, but also something old that might look a little bit different on the face of it but still have all of the information that's going to help you with your decision making. So happy to be here and share in the kind of experience that we have, but then also experience from clients that we've gotten firsthand.
MCGOWIN: Yeah, I couldn't agree more, Peter. Like you mentioned, we both have been using Active Trader Pro for the majority of its lifespan here at Fidelity. And by all means, we've loved Active Trader Pro along the way, but we're very excited about the Fidelity Trader+ experience that is now available for clients. And it is a tool that I'm using every single day now, when comes to our own trading and our own experiences, as far as our sessions that we put on.
And again, a quick housekeeping item as far as things are concerned here today. Again, me and Peter are both part of the Trading Strategy Desk at Fidelity. We are a group of traders, about a dozen or so of us here, specifically dedicated for your education. We put on about seven to eight different sessions on a daily basis on a broad variety of trading topics like you see here, daily market briefings to start and end each day, trading tool demonstrations, market updates, technical analysis. And within that confine can also find Fidelity/com/classrooms, where there is specifically a four-week class for Fidelity Trader+.
But on that note, just to take a quick look at the accounts and trade. If you go to that and go to Fidelity Trader+ link, that is where you can find these features. So, within that page, as mentioned earlier, there are three different iterations of Fidelity Trader+. We have the Fidelity Trader+ Mobile App, Fidelity Trader+ Web and then Fidelity Trader+ Desktop, which we will be focused on here today. As mentioned, the change that has been made recently of migrating from Active Trader Pro to Fidelity Trader+ desktop is a long-standing project that our product team has been working on for many years, and I want to make sure that we give our thanks to the product team for such an excellent new platform. As far as traders are concerned, as mentioned earlier, I have made my migration to Fidelity Trader+, and on this page specifically again, accounts and trade in Fidelity Trader+, you have the ability to download the load the Fidelity Trader+ Desktop.
And that will take you to the tool itself. Fidelity Trader+ Web is built into or the actual web browser with the mobile app. So just to get started, I want to first just bring up Fidelity Trader+ itself, show some settings that you can set up. And then for the most part here today we'll be bouncing back and forth between Fidelity Trader+ Desktop as well as Active Trader Pro to compare and contrast some items. What things still feel very familiar that are important to us, what things have been improved, and what are some important concepts for us to always keep in mind.
So, on Fidelity Trader+, the first thing I always think that is important for everyone to show is the settings. You do have the ability to choose light mode or dark mode, and I know that has been an important improvement for a lot of traders out there that do very much appreciate the ability to have the exact mode that they ultimately prefer on this page in particular. I tend to be more of a light mode person. Some people that will say that's harsh on their eyes, but that is generally my preference.
But within that also have the ability to change the app zoom. I've seen a few comments already coming in today talking about font size. You have the ability to change that directly on the general settings here. And you can also set up a few different perspectives as far as say like the bottom bar. That was something that I always appreciated about Active Trader Pro and still do about Fidelity Trader+ Desktop is seeing all of these different indices, ETFs, stocks and what we are important to us along the bottom hand side here. You can also set up to see different market futures, any market breadth measures, all of the different perspectives when you get started on this page in particular.
And then I also want to show you do have a brand-new feature, what is called the focus bar. I'll go ahead and have that added and I'll hit Apply in just a moment. But a trading shortcut that is directly built into the top of the platform itself. And that is an important distinction for something that we will discuss later with Hotkeys. Hotkeys being a very important new change that is available to us on the Fidelity Trader+. But the first distinction that I want to make a point of, I'll switch over to Active Trader Pro specifically because again, the familiarity of Active Trader Pro is something that we want to emphasize and show what is similar, but what is also still different.
What was one of the most distinctive aspects of Active Trader Pro? That was layout. The ability to set up a specific layout and have something that you go back to at all points in time. And I want to emphasize that you do still have the ability to do that on Fidelity Trader+, with more specifically a multi-monitor aspect more specifically built into the position itself. So, what do I mean by that?
If you are an Active Trader Pro user and you've always used multiple monitors. What has been in the past, something that you've had to specify when that is the case? You had to right click on a tool, and you had to hit Float Window. That allowed you then to move that specific tool out of Active Trader Pro into another multi-monitor setup. So, to switch back over to Fidelity Trader+, what is specifically changed on this page? Well, instead of that float perspective, you actually have the ability to set up what is called a workspace. So specifically built into Fidelity Trader+ is this workspace functionality where instead of having that float window have the ability to have multiple workspaces that encompass multiple monitors themselves.
You have the ability to set up all of these different distinctions when you are looking at what that level is in particular, that is important to you. And what those specific multi-monitor setups might be important for you in particular. You have the ability to set up a maximum of four different workspaces per layout and plenty of different layouts at one moment in time. So instead of just floating one tool, you can actually fill out the entire workspace, move tools within that workspace, and have, again, many, many monitors set up if you so choose, without having to always pick and choose individual windows to float to then move to a different monitor.
I know, I tend to be a two or three monitor setup, two main monitors, and a laptop. I know my colleague Peter tends to have a very, very large screen that is built into his own personal preference as far as things go. But you do have the ability now, in a more specific nature, to have that multiple monitor setup in a more specifically designed way for that trader in mind. And I mentioned this in passing earlier that functionality of what is called Tools. That is something to me that is also changed.
When we were on Active Trader Pro, we very much had that kind of tools in use, drop down of sorts on the page. The main thing that to me has changed on Fidelity Trader+ is this change with respect to the toolbox. So up at the top, when you have multiple tools up, let's say we go ahead and pull up a positions page. We will also go ahead and pull up a chart. And we'll maybe also pull up a watchlist, which we will dive deeper into all of these different tools in just a moment.
When you do this now have a docked toolbox at the top of the platform at all moments in time. That gives you the ability to jump from one to the other. And if you do have something that you want to have up all the time, when you go to that toolbox here at the top, you can favorite that. So now, if I do indeed close out of my positions and my watchlist, a chart tool is still pinned to the top of the toolbox. So, in that nature, I have the ability to set up the exact preferences I have. And to that degree too, very similar to what we are used to when it comes to Active Trader Pro. If you do want something that is connected along the way. So, let's maybe pull up a quote and then we'll also pull up a watchlist that's maybe pull up a quote on SPI, what do you immediately notice?
That automatically fills directly from the quote box to that focus bar, as mentioned earlier, and also to a chart. And because they are all built under this same grouped linking, that will automatically flow through depending on whatever I type into here. So maybe I want to change this to instead of SPY to go to SPX, the S&P 500 Index, that automatically flows through just like it would an Active Trader Pro, with just a slightly different way of looking at it as far as what that tool is called. So again, as mentioned earlier, a lot of familiar aspects to what we are used to when it comes to Active Trader Pro, but in a new and advanced trading platform.
A question I did see come in as well. People asking about the streaming nature and the up-to-date quote information very much like Active Trader Pro. This is streaming quotes. This is as up to date information as humanly possible. And this is information that you are getting in a streaming nature. And that is going to be, to me as a trader, one of the most important aspects to always have at any moment in time. You are seeing these prices update in real time, and that is due to the streaming nature that is built into the platform itself. And as mentioned, I can quickly switch between all of these different because they are connected to that same group.
But I know I've looked at, already, positions, watchlist, a few different tools that are important to us as traders. I want to pause for a brief moment, bring Peter back into the equation, take a look at some of the tools as mentioned, that are very similar to what we're used to in Active Trader Pro, but also what more specifically has been updated and revamped for Fidelity Trader+. So, Peter, anything that you wanted to dive into for us?
JANSSEN: Yeah, let's go ahead and at least take a walk down memory lane. And looking at Active Trader Pro for I think, tools that all of us are going to use at some point in time in one way, shape, or form. And that's perhaps as you were just talking about, on the heels of it, maybe a workspace that some of you want to set up, or perhaps a layout that maybe some of you had also used in the past. And this is really under the accounts grouping.
Now, as far as positions are concerned, or thinking about the balances that you have access to, or considering the history which is now going to be called Activity. So, while there might be a bit of a new kind of shiny wrapper on some of these there's only so many ways that you can break down your available balances for cash trading or margin trading, whatever it is that you are doing. So, this is, of course, the old look and feel, but I think, as I had promised, just to put everyone's mind at ease, as I transition now over to Fidelity Trader+ momentarily, it doesn't look too dissimilar. I mean, we're able to go ahead and observe within the tools that Andrew had shown and the accounts grouping. The gang's all here. Positions, close positions, balances.
Once again, activity, which was branded history previously, as well as option summary which I will show in just a moment. But that very similar screen setup in just one way that I've seen some traders use it. Balances perhaps off towards the right to go ahead and get that more granular view of what you are looking at. Maybe a specific line item had a title change just slightly, perhaps in a grouping had moved higher or lower, but within reason. You'll feel very comfortable pulling up the balances page from what it is now versus what it had been.
And the same is true for your activity. You now you do have some additional activity dropdown menus. Still the ability to search, still the ability to choose your own time frames, custom time frames, or even years or different, perhaps 90-day periods that you have done, but it very easily will allow you to drive down deeper. Perhaps you wanted to see dividends and interest that took place. Not just for the last 30 days, but all of 2026. Maybe you just wanted to see that for a specific symbol like Bank of America. Very easily and efficiently able to go ahead and obtain the data that you had wanted with the addition of more dropdown menus that are available.
Now, when it comes to positions, once again, I sound like a broken record but trying to put everyone's mind at ease here. Very similar in the different types of columns that you have, but there are a lot of additional columns and different data points that you have access to. So just like we had observed in previous versions, you have everything that's available to you here on the left, the selected columns that you have on the right, and then the ability to move them as you see fit.
So, I don't want to give everyone motion sickness by going through this too quickly. I certainly am not a fast reader. Everyone that knows me knows that. But do get familiar. Have a little bit of that healthy curiosity for the additional details and data points that are available that you might want to go ahead and have added to your positions or watchlists also.
Now, one big thing that developers and the team had heard about was going to be the notes. And while our notes section might not be as robust as some of yours out there, recognize that within positions and within watchlists, any of those notes are going to carry over on that one for one basis. And I know a lot of you have probably seen that when I was on Active Trader Pro. Different notes that were there. You can, of course, click on these. It will expand it. It will tell you when you had last edited it, which for the test account in this environment, of course, some time ago.
You can add to these notes, save them, delete them whatever you would like. But for anyone that was fearing that your notes and homework there, so to speak, was going to be lost, it will carry over. Now, to get to some of the, I guess, the fun stuff or some of the upgrades, the different types of securities that you have the ability to filter for has also been expanded. Still with the ability to search but being able to maybe hide different types that you don't want to be front and center, I think is certainly an upgrade.
Also, the ability for some of you that maybe have long/short portfolios. So, if you just want to view your long positions, if you just wanted to view your short positions, even for maybe options traders or those that are shorting different types of equities, ETFs, whatever it might be. These quick toggles allow you to actually focus on specifically what it is that you are trying to observe and analyze, all with that thought process of making you more efficient so that lots of your mental strain, so to speak, is spent on actually trading versus having to try to find the exact data that you are looking for.
So updated visuals still have the different flyouts, perhaps different analyst recommendations. If you click on these different links, you'll still have the flyouts to Fidelity's website in order to view more information. So, a lot of different ways to go ahead and take a look at positions that you have-- list view or heatmap view. Within this, there's a lot that can be done. So that was a very quick synopsis a lot of what is very similar. And I'll round out that conversation perhaps with the option summary. Now, option summary, just like we have the previous version and Fidelity's website, the ability to group by either expiration grouping by your underlying, grouping by the strategy types that you have.
But what has expanded, once again, is the ability to look at different strategies. So, if you just wanted to focus on your options and not unpaired positions you can unselect that. And now of course, our test environment just has this one covered call it looks like for Citigroup. But you can imagine, like Andrew and I had worked with many traders in the past or even us ourselves, we have different strategies that, if nothing more from a management perspective, want to be able to really focus on. So just viewing your calls or puts or spreads or straddles, whatever it might be, is now just a click away at your fingertips.
And I firsthand that many options traders want to manage different positions from a strategy perspective, in addition to what's expiring or perhaps what underlying it's on. And that strategy, as we had talked about. The other main benefit that I see here is going to be implementation of in and out of the money filters. So, for let's just say our hypothetical covered call trader here, I'd certainly want to recognize if that begins to breach my short leg.
Maybe that was the purpose in mind. Maybe it's not. But being able to look at in the money positions versus out of the money positions, just a click away. It's with that theme of being able to have a shorter list, especially for those of you that have a laundry list of positions that do include either options or even unpaired positions.
Lastly, here we also have things that are nearing expiration, which can be helpful as well as different events. The events themselves really cater towards if there's different earnings, perhaps, that are on the horizon, or even dividend payments that might go into your management style, so being able to toggle very quickly should make management very easy and top of mind for many, many of you out there.
Now, different columns that are available, different settings. Goes without saying, but I'll mention it here. Just about any tool is going to have the settings that are available, which would then have either columns or different defaults that you would have the ability to change, as well as the ability to reset back to the defaults that you might have in mind.
All right. This has been a lot of the familiar with some smaller enhancements. I want to jump on over to some of my favorites though. And that's going to be perhaps a watchlist. As far as alerts are concerned, not too dissimilar. It's going to have the same alerts that we had observed before. So, you're right there at home. But from a watchlist perspective, this is where I say some vast improvements have been made. This is a watchlist of just of some of the sector spiders.
I'm going to scroll to the very top of our list. Looks like maybe the Dow Jones Industrial Average Constituents. And as I said before, columns available has been expanded. We still have the ability to search for a symbol. So, as you're going through a watchlist, Dow Jones Constituents most of us are probably aware of but maybe you wanted to keep tabs on something and you want to look for it. Well, you don't see Citigroup, now we have the ability on the fly by clicking this positive sign to type in the symbol in question, hit Enter. And now, Lo and behold, Citigroup is added to the watchlist that we had.
You can still remove this on a one-by-one basis. You can still add symbols on that one-by-one basis. But a huge improvement for watchlists is the fact that it is no longer bound by the 50-symbol maximum. I'll repeat that, that is no longer bound by the 50-symbol maximum. And the reason that that's so important is for someone like me or Andrew or others on our team, I'd actually built out an entire watchlist for the S&P 500. I'd also done it by hand. And what that meant was I had to individually type in 50 different symbols for S&P 1 through 50, and then 51 through 100. And so on and so forth.
Found myself with 10 different watchlists just to view the S&P 500. Two things here. You now have the ability to have more than that 50 in a single watchlist, which makes looking at, say, the S&P 500, S&P 100, maybe different sector ETFs that you want to peek under the hood very easy and possible. The ease of use comes into play when you actually look at, now, the ability to import watchlists. So no longer do I need to spend countless hours typing in number and number of symbols. You have the ability to click New Watchlist.
You can name it whatever you'd like, but then actually import this from a saved list or CSV file that you have. Now, some might be saying, well, I don't know where to look for that, and that is perfectly fair. Strategy Desk does a lot of other sessions for even small tool demos like this, but very quickly you would have the ability to launch Fidelity's website through the tools Fidelity.com. If, for instance, you wanted to try to mimic that S&P 500 list or something very close to it, you could pull up SPY via news and research, stocks and ETFs.
And here, within the overview, this link where it says View 505 Holdings. You now have the ability to go ahead and click. And that is going to give you the list that you are looking for. Very simply copying and pasting this to an Excel spreadsheet, saving it and importing it is all that stands between you and a 500-symbol watchlist of the S&P 500. Takes that time down to a matter of minutes, versus perhaps the hours that it would take me to do that in the past. So huge win for watchlist, watchlist users, especially when we still have that grouping and paired ability to take a look at different charts or other tools that are all working together with the groupings categories that we have up towards the top left-hand side.
I know there were some questions that came through about being able to paper trade, and there is the ability to keep tabs on some pricing. So, with different columns that are available, you can pop in amongst notes, different hypothetical quantities that you might be purchasing, the price points that you might have been looking to pick up shares on, and then different columns like your percent or dollar, nominal gains and losses since that purchase took place for your total gains and loss, or even just on a daily basis or perspective. And it's as easy as typing in, I'll stick with 10 shares of caterpillar. Maybe we're considering a trade right here, $820.40.
Let's see how it does. Well, total gain and loss, 0 because we just entered the trade. Days gain and loss, that 1% reading at what the percent was. So, for those that are looking to have a little bit of a hybrid or maybe a paper trading ability to keep tabs on positions, it's held here under Columns that you have the ability to view. All right, I'm going to go ahead and keep us moving here with some that is similar, but also improvements. Let's take a look at News.
So, for what it's worth, the news outlet is, well, it has a lot of what we had before, but I think it's laid out a bit better. So how we can view for a symbol. We can also go ahead and take a look at the topics themselves. So different headlines news, maybe those that are looking for analyst upgrades or downgrades, perhaps corporate events or earnings releases that are coming out. Those that we had talked about as far as sectors are concerned, you can break down and drill into, if you wanted consumer discretionary news or consumer staples or whatever it might be.
You can also do these filters for positions that you own, different watchlists that you might want to peek under the hood of. So, if you wanted to round about find ways to look for watch list of the Dow Jones Industrial Average news, and you have the ability to do that. As well as your own organic search. So, news has come a long way, and I like the way that it is laid out. Next, maybe, market analytics. And then I'm going to get over to our trade tickets. So, market analytics will default to the bubble chart.
It's also where the market calendar or economic calendar is going to find itself. And what this allows you to do is take a look at not just today's date, but if you wanted to see what was taking place between now and the end of the week, you have these dynamic dropdown menus and filters to choose from. You can also go ahead and search for a specific filter. So, if you wanted to see what GDP had been doing and you can just iron out what GDP is, had wound out looking like, and you're able to go ahead and look at the estimates, what the prior was, actual or any other data that's there.
Now, as far as the bubble chart is concerned, maybe a lot to look at here. I'm going to expand it so that it is full screen. The way to think about this tool is a visual for different types of criteria that you get to pick. So, if you wanted to see specifically within consumer staples what's been performing on a year-to-date basis, well, here we go. If you wanted to see OK, well how has it been performing perhaps for the past month, we can put that on the X-axis, and then for the year, on the Y-axis. Meaning that if we wanted to see, well, target perhaps currently on a one-month performance up about 19.5% and that's adding to its year-to-date gains of 67%.
Whereas if you were to take a look at an Estee Lauder, well, one month performance, 30%, and that just now is putting them above that 0 line for a year-to-date performance. So, a quick way to be able to regardless of what criteria you want, visualize, this one from a performance perspective, well, what's been doing well for the year? That's got to be higher. What's been doing well for the month? That's got to be over here towards the right versus to the left, where if you were to look for Casey's general store, well, one month kind of dragging it down from what its one-year performance or year to date performance I should say, has been.
So, a fantastic tool that I know is going to be added to in the future. But a great way to visualize a lot of different data sets that came from feedback. All right. Maybe a few more minutes out of me, Andrew. I think when looking at all of what we have available here, we've maybe done some analytics. We're looking at watchlists, the trading ticket. And this single standard trade ticket has packed a lot of even what the previous version of Active Trader Pro had to offer when it came to directed trading, when it came to routing orders. All this, that, the other.
So, within this trade ticket, we quickly have access to top level balances. We can view more robust balances like we had shown before or even quickly, with one click, add funds, if we're maybe short on a trade that we are looking at. Within the actual purchases, maybe you're considering buying 10 shares at market of SPY. But here with this little icon, we also not just in shares, have the ability to trade in dollars. So, if you'd rather buy, say, $1,000 worth of SPY, that's now embedded in our standard trade ticket. If you wanted to toggle this back to shares, you just click on this menu here.
You have some advanced order types as well. Goes back to what I mentioned before, a little healthy curiosity with what's kind of hidden in plain sight. In order to go ahead and perhaps consider picking up shares of SPY, call it at 765. Or maybe you want it to be more of a marketable limit order because you really want this trade to go through. Well, it'd go through right now, looking at it, but that's what this little icon will do for you. It'll actually allow you to follow the bid or follow the ask.
So, if you wanted to read up on SPY or symbol at hand, what you'll notice is rather, than you having a stale quote meaning that I typed in $764.88, well, maybe that's drifted higher, or perhaps it's drifted lower, and you don't want to think about having to change that. You can follow bid or follow ask. And that will go ahead and respond to what the prevailing bid ask is right there at that point in time.
Now as I'd said, the embedded additional activities that you have, Day Plus Extended, is a big one as well. And what that means for anyone that's unfamiliar is that trade will then carry over from this point in time throughout the standard trading market hours, as well as the extended trading hours as well. You can also route specifically from these fields. Perhaps want to look at the settings that you have, the directed trade toggle on and off. The color controls, as Andrew had pointed out earlier, to toggle on and off, as well as the ability to skip preview and confirmations if you would like. I'd say tread carefully with that, but completely up to you.
But far and away, a lot has now been provided within the standard trade ticket, which we think is a big win. Now, in addition to this, if you're considering a $764 as a limit, maybe you get a phone call, have to go pick the kid up from school, whatever it might be. Saved orders which will span across all of the different platforms that we have. Saved orders, you see, it's saving. It is now saved. You didn't preview and place the order, but under the orders window, what you're going to have, orders that are live, which currently we do not have any, but under Saved Orders, if you did have to power down or perhaps go over to app, your website, whatever it might be, or even just relaunch Fidelity Trader+, now under your saved orders, you can reboot the order that you were considering. And there is our potential buy for 10 at the limit of $764 on a day plus basis, and all that's left for you to do is preview in place should you want to go through with that.
So, I think that with the directed trade or now route codes that are within the standard trade ticket, some might find that they're not having to utilize the level 2 quote maybe as often. Some still might want to be able to obtain that. So, under Tools, level 2 is going to be synonymous with what that directed trade window had been in the past. It'll look very, very similar here. We actually see some of our trading shortcuts or hotkeys that are provided. We also have this little sidecar as it's called. So that will allow you to have a trade ticket kind of embedded within this tool. Or potentially you want to be able to observe some time and sales data.
You'll have the real time data, which is going to be streaming here to the second for live trades that are occurring. Or you could toggle this to something historical if you wanted to be able to filter for specific results, maybe during different trading hours, maybe only trades within certain price points, or perhaps trade sizes that you have a question about that you wanted to drill deeper into. So directed trade, or at least this level 2 functionality is still here. That does have the hotkeys that are still available. But that also goes back to the fact that now it's actually embedded within that focus bar that Andrew had pointed out previously.
Andrew, this will be the last thing that I cover, and I'll open it up to you. Lots of different use cases for the focus bar, but those hotkeys being available, tucked away up here towards the top is certainly one of those that would allow you to just on the fly, have a symbol pulled up that you're considering, and you're able to go ahead and click on the purchase, and that will take you to the trade ticket in order to view what your defaults were and the settings for that specific trade that you had in question.
Folks, you can find those hotkeys within settings up at the top right-hand side. And the second choice downward at this point in time is the hotkeys, which will allow you to add new ones or edit ones that you had done in the past. I'll click on Edit for just a moment. You get to dictate by clicking on control and the number one, it will automatically pull up a buy for 10 shares at market. Good for the day. So that's just at least one example of a hotkey, which you can have up to four of those, and they will be either listed or not listed depending on whether you have or do not have that focus bar up and running.
But that, Andrew, I know we're starting to actually uncover a lot of what has been improved. Lots of these new updates, the shiny new stuff that I know lots of traders will be more efficient for using. Let you back in on the conversation now to continue the conversation with the latest and greatest.
MCGOWIN: Yeah, I couldn't agree more. And so many excellent things within the trading functionalities as Fidelity Trader+ is concerned, like you mentioned, I think the trailing the bid trailing the ask, that is something that would have saved me countless moments in time. When I think about trades that I've made in the past, some markets that are moving very quickly, and not having to retype in a limit order multiple times. And to that extent, to my Fidelity Trader+ side of things here, the hotkey functionality, that is something that we have very much wanted for a long period of time. To me, one of the coolest aspects of it, like you mentioned, one, when you create a hotkey, it does automatically then become built into the deck here, as that focus bar is concerned, if I hit by 10, I've got that trade ready to go.
It doesn't look like it's going to let me do this in our test account. But I can also, as mentioned earlier, hit Control, one that also does the exact same thing. If you are someone with those hot keys and you're wanting to use that. But the next thing that we wanted to dive into, something that is near and dear to our hearts here on the Trading Strategy Desk, the charting functionality. Me, personally, a chartered market technician, that is the most important aspect of Fidelity Trader+ for me, is the charting functionality. And something I want to reiterate, like I mentioned earlier, our product team is so full of both former trading Strategy Desk members, former Active Trader team members, so many people who care about traders, care about the overall functionality of trading that have been putting in such hard work on this tool.
And just to switch back to Active Trader Pro for a moment to show the differences as far as charting goes. And of course, charts are still important on Active Trader Pro. What has been a major change? Well, to me, some of the setting functionality has been such a major change, and some of the way that we can move the chart in and around. You'll notice sometimes in Active Trader don't notice it until you're using something new, but the clunkiness that is sometimes built into Active Trader Pro is something that is jumping out to me now when it comes to looking at this chart in particular.
One thing that you will see, the overall tools, the settings that we still have that we have here, the tab functions, and what is ultimately changed to switch back to Fidelity Trader+. One, when we pull up a chart which to show that one more time underneath tools and you go to chart here a built-in crosshair functionality, a very quick and easy way of changing both the X-axis and the Y-axis. And a few important changes that are going to feel familiar but also going to be a new and improved change. So similar time frames and frequencies that you will see here.
But one very cool thing that has changed along the bottom hand side. First and foremost, if you remember on Active Trader Pro, switching from a linear chart to a logarithmic chart, it was a setting that you could choose, but it was built into about three different choices. Before you could get to that individual choice, you can very quickly change from linear to logarithmic with a simple toggle function on this chart. You might notice on a one-year daily chart, that's not going to make that big of a difference. But say I switch that to a monthly chart, that becomes a very substantial difference, and something that I can quickly visualize for someone who does find that important with that linear and logarithmic perspective.
And then, two, something that I find that is such a simple change, but such a valuable one, the percent mode that you see on the right-hand side here. What does that do? Well, it changes this axis on the right-hand side to instead of a price function to a percentage function. Why is that important? Well, now I can quickly see that the S&P 500 is up 12.1% year to date. I had to do that math by hand previously, and I didn't think of how just cumbersome that was until I ultimately had the choice to quickly change.
Between this, I can see on a one-year basis, we're up 19% on a one year rolling basis, so that's something that is a very quick and easy toggle for us. And then something that we mentioned with respect to directed trading with respect to extended hours trades have the ability to quickly toggle extended hours. Now, on a long term one year chart that does not show up, but say I switch over to a 10-day chart, and I switch over to that extended hours functionality. Now, I immediately see that extended hours time frame built into things here, shaded with a slight purple shading or a gray shading depending on how you squint at it.
So, I can immediately expand that out. Look at all of these different charts along the way. Look at what those important time frames were for me when it comes to the S&P 500 itself. So, when you still are making that switch, one thing that I mentioned that might be a overall change for some people is that tabular function. If you were someone who was using tabs, what are we switching to when it comes to the chart functionality? Well, to me it is built into that grouping that we have here. So, let's just say I wanted to have a one-year daily chart of SPY. And I also wanted to have, say, a five-year weekly chart of SPY, or one with indicators and one without indicators or anything. To that extent, I can have multiple charts going up all at once and immediately switch back and forth from these.
Very similar to what we are used to with an Active Trader Pro to Fidelity Trader+ 2 is the ability to save charts. So, whenever you set up a chart, you'll notice that there's a handful of different things that you can do here, which I'll show in a moment. The drawing tools that have all been improved. If you remember some of the drawing tools on Active Trader Pro, I want to say we only had maybe one to two dozen total here. Many, many more different tools that are available to us. A quick nature to draw a trend line that also gives us information as far as how many bars have surpassed, as well as the actual percentage change, which I can quickly right click on, and delete drawing.
We've also got volume profile rather than being what is called price volume distribution built into Active Trader Pro. I can not only choose that as an indicator, I can also draw that directly on the chart in particular. And you can also see a variety of different things that we can add. We can even add the notes functionality here if we so choose to maybe remind us of something important that happened that day, we can also add what I think is one of the coolest aspects, so many more new indicators.
If you are someone who prefers and utilizes technical analysis, well, then you are going to love how many new indicators that we have available to us. Two quick hits on the Indicator piece before I show saving charts. One if you are someone who uses either simple moving averages or exponential moving averages, or a variety of others, when you are looking for the indicators, of course, when you go here, it is going to be an alphabetical list until you look at individual categories of this. But when we just simply look at moving average, you have the ability to choose on this dropdown simple or exponential or many other variations of moving averages.
So, if you are looking for an exponential moving average and not finding it, it is built within the type of the moving average. And as well, again, one thing that we've been wanting for many years, the anchored volume weighted average price, that is now something that you can immediately add to the chart and choose a spot in time for us to anchor that volume weighted average price to the chart in particular. A couple other things that you can add here. Many different styles that are now available.
If you are someone who prefers instead of a candlestick or a bar chart, a pointer figure, if you so choose, you can also look at Heikin Ashi charts, Kagui charts. We actually have a regular session on the trading strategies for alternative charting styles, and then you can also add events to the mix. And the splits that have taken place. I wouldn't imagine any on SPY, but any earnings time frames. We've got plenty of earnings, always happening all the time. Dividend announcements will be something that spy indeed has.
You can also see any open orders, active alerts, anything that you see here. And you can also have the trade from chart functionality. And that is something that I wanted to show next, because a question that we get very often is the Trade Armor functionality. If you are someone who uses Trade Armor, the functionality of Trade Armor is still built into the Fidelity Trader+ charting experience. More specifically, you have the ability, by clicking this Plus sign that you see here, the ability to buy, limit, sell, stock, create new order, or even set an alert, that you see on this page. As well as, if you right-click on that page in particular, you can immediately create a new order. Maybe if you so choose, you can also do the conditional. What ultimately was the trade arm or functionality?
It was a conditional trade, a bracket trade, maybe a buy to sell bracket, something to that extent. That is still built into Fidelity Trader+ in particular here. And that is still something that you have full functionality of use now. To maybe pull up my individual charting save template here, A McGowin, I put that, in that case, on Active Trader Pro just to, or Fidelity Trader+, to see my name a little bit closer to the top here. And when you pull that up, you will see all of the different indicators or anything that you so choose that you want to see on the chart. And you can have that set up to immediately save and pull up as your default option. You can have many different chart templates on this page as far as the charts go.
And in that scenario, you can look at a variety of different time frames, different types of analysis. If I switch over, say to that weekly chart, and then also look at it in the same vein here, let me change this to a one-year daily chart, and let me change this out to a weekly time frame. Now, instead of seeing daily frequencies on those moving averages, I am seeing weekly frequencies. Now, one question that I saw come in, how to, maybe, toggle or hide indicators on the left-hand side. You'll see all of these indicators listed here.
When I click on that dropdown, one thing that I can do, which we were not able to do on Active Trader Pro, is to just simply hide the indicator, which then I could add back into the equation if I want to see those again. But if indeed that I do just want to get rid of an indicator, I can simply hit the X and then not have that on my chart any longer. You have the ability to quickly add those indicators along the way. And then before we get into the options, which is what Peter is going to cover next as far as the option chain goes, the quick segue that I wanted to open up was the very fun change as far as a charting of an option is concerned.
So, I just pulled up one option on SPY, chosen at random. There is no importance to the September 18, $762 strike call. But the thing that I wanted to mention is that one, when we pull up a chart of an option, well, of course, it is going to give us the actual price of the option that we are looking at. Let's say we go out to a shorter-term time frame on this one, and we just pull up a one month's worth of time as far as this position is concerned, we get a 30-minute time frame on the simple price of this individual call. But what is a very cool toggle that we can choose up here on the top left side?
When we hit this, it actually switches over to a quote of the underlying. And you have the ability to toggle back and forth between the underlying quote, as well as the actual chart quote itself. That gives us the ability to look at and discern different important prices to us quickly in a manner on this page in particular. And then, as mentioned to as we go back to this page, you have the ability to save that chart template, to create a new chart template, to even download chart templates. And you can make one your default template itself.
But that being said, I know we're already towards the latter quarter of today's event. We want to spend some time on the option chain, which, of course, has had some great improvements as well. Anything that you wanted to add to charting functionality there, Peter, before we do?
JANSSEN: Yeah, I think I'll go ahead and actually get straight to the options capabilities, because the options chain is another one of those that I think has some vast improvements, not just a facelift and a new wrapper to it, but from a functionality standpoint, I think it is one of those that has excelled quite a bit. So, another kudos and tip of the hat to the developers there. And looking at the previous version. So, this is Active Trader Pro’s options chain. Kind of goes back to what I mentioned before. How much can you really change with an options chain?
It looks so, so similar to what it's looked like in the past. So, there are the columns that you have available. One piece of feedback that we had gotten a lot was that it doesn't mirror out or expand. So, while bid and ask is to the far left for calls, it's to the far left for puts as well, and everything just kind of reads from left to right. The newer version kind of expands or extrapolates out, and as you move columns, one way or the other, it'll follow suit on the other side as well. Now, in addition, I know a lot of traders that liked the ability to have the different flyouts. So, if traders were wanting to have different strikes, well, 5, 10, 20 or all, you could choose your own custom strikes as well if you wanted to add, the $755 up to $775 and hit Enter. Well, now we've got this additional strike as well.
But the ease of use has changed a tremendous amount. So, there is still the ability, if you are looking to maybe queue up a kind of as it's called now trade in. You see this trade in chain toggle, that would allow traders to very quickly maybe queue up a long/call spread. So, we're looking at buying the $770 as you see here buy to open. And then perhaps selling against that, a $775. And that would begin to give you the net bid, ask, and midpoints as well. You could preview and place your order. So, I mean functioning has actual options chain. The ability also to trade within the chain was feedback that we had, and that I think a lot of traders enjoyed.
So now looking at the very similar September 18 SPY options chain, what we notice up above is going to be what I mentioned before. Well, we've got calls and we have puts of course. But now the bid/ask is working its way inside out. IVs, IVs, working its way inside out. The same with the different Greeks. And if you're not seeing some of these columns, perfectly fair. Once again, Settings is what is going to allow you to go ahead and actually set your defaults that you want to see, as well as the different columns, which is where a lot of data points as well as the Greeks, maybe intrinsic value, time value is going to be just a click away.
Now, as far as the actual functionality is concerned, looking at that similar type of trade with multi-select chosen. If you do not have multi-select, the midpoints are actually going to convert and turn into a button as well. And by clicking, you'll notice now you have the choice to buy to open or sell to open. You can still get to your trading shortcuts for options specifically, not just equities, obviously. And then also maybe add a certain symbol to a watchlist if you would like.
This will also pull out your individual trade tickets. So, clicking on the seven $770s now has that trade ticket that we had talked about previously. You can save single leg or multi leg option orders as well. So do keep that in mind. The saved orders is not just for equities or ETFs. But if you have this multi select, that's going to be synonymous with that trade-in-chain that we had previously. So, we'll tuck that away for a moment. I did want to go ahead and show the ability to look at not just calls and puts, but as far as the strike selections are concerned. Now no longer just 5, 10 or 20.
We have 25, 30, 40, all. You could do 22 if you wanted. You could do a random number. You could do a price range set like we could before in order to go ahead and just deliver the exact strikes that you want. And once you have that, if you're considering a trade, what did I say previously? I think we were looking at the long $770s. So long as you have multi-select chosen, which was very similar to that trade in chain previously, it's now going to go ahead and pull up the trade down below.
But what we are already seeing is an embedded profit/loss calculator here. So, we see the calculator that you can show or hide. And we also have our break-even points, max profit, max loss, probability of profits, as well as what the debit was at that point in time. So, if we scroll down, if we were along the $770s, let's say we wanted to be short, a five-point spread out at the $775. And now we're seeing what the updated net debit is. It's an updated break-even point along with those max profit, max loss as well.
And then that calculator as we had discussed, which would allow you to change the big three, so to speak. Your hypothetical price, your hypothetical time that price might have taken as far as a path is concerned. So, if you said, well, if we sit pat and the rest of this month goes by and we click Apply, what are our gains and losses shaping up to be? And you can also change your implied volatility. Now if we wanted to see, well, let's say price gets up and goes and gets to 768. $768, if I could type correctly, $768 by August 31. All right. Well, now we're starting to head back in the right direction given this directional exposure that we have for this out of the money spread.
So, I think on the fly and really at the time of your trade, huge improvement in being able to have a profit/loss calculator, which allows you to try to envision what the timing component, directional move component, or modifications to implied volatility could be. Now from this, if you've done some of that analytic work, you can certainly go ahead and click on the trade window. That will pull up a multi trade ticket for you. As mentioned before, you've got the ability to save this. If you're still on the fence about the trade or want to do some additional research, or maybe you want to save this trade, but then analyze what the $770 by $780 might be. Well, then you can go ahead and compare and contrast what it is that we are talking about here and now.
You can, of course, add legs on the fly to these multi trade tickets. You can add legs here down below as well. So, if you thought, “Well I'd like to do something different.” And maybe you're looking at actually selling a straddle. You can go ahead and do so. And now you're not just going to be limited, of course, to a single break-even point, but multiple break-even points. If you wanted to buy some wings for protection, you could go ahead and do that and choose up to four legs here, even if they span across different expirations, it will still go ahead and add that data for you on the fly. Updating and adjusting your break-even max gain, max loss, credits, or debits regardless of what it might be.
So I think a lot of improvements here, on the face of it, within an options chain, as I joked about, there's only so much that you can change within an options chain, but I think the efficiency and the analytic work that you can do before you actually move forward with the trade is a lot of where the improvements have been made, and lots of the positive feedback that we have either received or been able to implement from traders in the past.
I know are starting to push for time. I am sure that there are a number of different questions out there, Andrew. So let me perhaps take just a quick back seat here, open it back up to you, and maybe we can knock out a question or two here in closing.
MCGOWIN: Yeah, a few different things that I saw come in as far as questions go. And just to reiterate that we are seeing hundreds of questions from the many, many people that are out there. So do keep in mind, unfortunately, we're not able to get to all of the questions that are out there, but plenty of things that I did see come in that are so important to us. And one thing I just wanted to hit real quick that I'll pull up on my settings feature.
A few people had asked about the columns on positions and watchlists. And like Peter mentioned, something that is very useful is that you do have the ability to reorder all of these columns, but also select plenty of columns, but two different things that I wanted to hit in as we are wrapping up is that, one, in the event that we were not able to get to your question, if there's any sort of feedback that you do have for Fidelity Trader+ for developers. Very much keep in mind this is a tool that is to our opinion, very useful, very updated, a lot of great new features and functionality, but it is still something that an entire team of people is dedicated to improving every single day.
So, this megaphone icon here, give feedback. That is feedback that goes directly to our developers. Peter and I know the people personally that are reading all of that feedback and making sure that everyone's voice is heard on Fidelity Trader+, then to switch back to Fidelity.com. Two important pages to very much keep in mind for this, again, page that I mentioned earlier, that transition from Active Trader Pro to Fidelity Trader+ Desktop, that's Fidelity.com/active trader pro transition. You can find so many different pieces of information about that move.
But I also wanted to point out towards the bottom hand side here, pre-filmed videos as well as all of our coaching sessions for Fidelity Trader+ can be found at this link here. This Level Up Your Knowledge. What that takes you to is a dedicated page for all of the Fidelity Trader+ content that Fidelity and our team have been putting out on a regular basis. Of course, our morning market briefings held every day with Fidelity Trader+. The Fidelity Trader+ weekly classroom that we have beginning anew every single month. And keep a tab on this page because we have so many different upcoming events for Fidelity Trader+, different drawing tools that you see here, different charting styles. As well as two different monthly sessions that will be beginning here in the month of September.
One, a dedicated session for, again, Active Trader Pro to Fidelity Trader+ migration, but also just an open ask us anything for Fidelity Trader+. And that is going to be, again, a monthly event that you can find one at that transition page by going to the Get Started. But also, at Fidelity.com/coaching, where you can find Peter and his team, the Trading Strategy Desk, amongst the many other sessions that we put on a daily basis.
So that being said, that does bring us to a close for today's event. I cannot emphasize enough how excited we are for the change to Fidelity Trader+. A lot of great new functionalities within the trading capabilities as Fidelity Trader+ Desktop goes, but also a lot of familiar tools that are still very helpful and useful for traders as far as anything is concerned with respect to being in both an Active Trader, but also even a more passive buy and hold investor in that sense. So, appreciate you all joining us here today. We look forward to seeing you in these future sessions.
Hope everyone has a great day. Thanks
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