LIGHTSPEED TRADING PLATFORM TUTORIAL COURSE
Lightspeed Trading Tutorial Course
Free Lightspeed Trading tutorial course walks you through step by step on how to use and setup your account, charts, and how to use the Lightspeed platform for beginners. We even show you how to setup Lightspeed paper trading and demo account in detail.
The Lightspeed Trader platform is easy to setup, even for being an advanced trading broker. We cut out the fluff and are laser targeted in this course by making our tutorials simple and to the point.
Register for free below to gain access to our Lightspeed course as well as our other trading courses.
Get Your Free Courses ($3,000+ Value)
Lightspeed Trader Platform Tutorial
Is Lightspeed Trading Safe and Legit?
Lightspeed is a top notch broker for trading. The Lightspeed Trader platform is one of the best in the industry for day trading and options. Their order executions are lighting fast and montage creation is completely customizable and simple to setup. Getting started is easy and their customer service is great if you have any questions along the way. There are a lot of brokers out there in the industry. Many have complex layouts, sub-par charting capabilities, and some still look like they are stuck in the 90’s with their software, but not Lightspeed. They have a very sleek and modern looking platform which puts them ahead of the curve of other brokers.
We have used many different brokers in our trading community but LightSpeed has to be right at the top. It’s our favorite broker by far when it comes to day trading. We love how interactive, quick, customizable and easy their platform is to use. You don’t even need another charting platform because their charts are top notch.
Register for a free membership and take our Lightspeed Trader tutorial course below.
Get Your Free Courses ($3,000+ Value)
Bullish Bears Members Discounts
Bullish Bears Members Promo: *Use promo code BULLISHBEAR
Commissions – $3.00 per trade or $.003 per share/$0.50 min.
Options – $0.30 per contract
$5,000 minimum deposit (cash accounts only, web/mobile platform only)
$10,000 minimum deposit (NPDT or cash accounts, eligible for LightSpeed Trader)
For more information on opening a demo account or opening an account with LightSpeed please contact Rob Livson at [email protected]
Regular Commissions and Routing Fees
Commission and routing fees are a big deal when it comes to choosing a trading broker. This is a competitive market space with a lot of brokers offering commission free trading. Zero commission brokers are great. I mean who doesn’t like not having to pay for any trades that they make, right?! But, what does this actually cost you the trader?
If you don’t get quick order fills at the best price then does free trading actually benefit you? You get what your pay for when it comes to a trading broker. The big name free commissions brokers are great for casual trading or options trading, but not so much when it comes to day trading.
The big name day trading brokers such as Lightspeed, SpeedTrader, and Centerpoint all charge fees for a reason. It’s because of their reliability and order executions. If you are going to be day trading consistently then you are going to have to get used to paying commission fees and also paying for accurate feeds for market data.
Lightspeed offers two commission tiers. Per trade and per shares. They are a bit on the higher side when it comes to commission structure but they are competitive. Personally, we would rather pay a bit more and use the Lightspeed Trader platform, rather than pay less and use SpeedTrader or Interactive Brokers. We break down their fees and commission structures in our Lightspeed tutorial course.
Lightspeed Trader Order Execution
Lightspeed is among the best brokers in the industry for lightning fast order executions which is great for day traders. Order fills and speed are critical when day trading. You want to get in and out of a trade as quickly as possible while getting the best fills. Just some minor slippage could mean the difference between a winning or losing trade, which could cost you potentially thousands of dollars per year.
Brokers such as TD Ameritrade or E-Trade are enticing to new day traders because of their low fees and alluring charting platforms, but they aren’t designed for day traders when it comes to order executions. Also, they don’t have as good of montage window customization when it comes to placing trades. Those platforms are more cumbersome. TD Ameritrade makes it more difficult when it comes to placing limit orders. When you click on their “Trade” tab, the charts get taken over entirely by the trade screen, which is terrible when trying to make split second trading decisions.
The great news is that the Lightspeed Trader platform takes away all of this pain with their highly customizable montage windows. You can place orders without having your charts hijacked, which allows your to be completely focused when trading. We show you this live in our Lightspeed tutorial course.
Having a good charting platform is important when day trading. Price action key when you’re looking to make split second trading decisions. Candlesticks are the most important trading indicator, which means that you need to have good charts to look at when entering and exiting a trade.
TD Ameritrade’s ThinkorSwim platform is the pinnacle when it comes to charting. We agree that the ThinkorSwim platform has the best charts, but LS is not too far behind. LS is so much better than Interactive Brokers and SpeedTrader. SpeedTrader uses the Das Plaform and their charts are sub-par. IB’s charts are just awful.
We would say that LS’s is a bit below ThinkorSwim and above the other brokers, which makes them solid overall when trading. You don’t need to use another charting platform to trade, which is great. Plus, their montage is customizable for charts, and their zoom feature is helpful to get a good clean look at the charts.
It’s relatively easy to get your charts setup with LS. You can also layer on indicators as well. Once you get your layout the way that you want it, make sure to save it. Opening and saving layouts is easy to do. You can customize different layouts based on different trading styles and easily interchange them.
Indicators are very important when it comes to a trading platform. This is where the importance of a solid charting platform comes in. You need to be able to see the indicators clearly on a chart, especially when it comes to day trading. Speed and accuracy is also critical. If the indicators are even seconds off compared to other platforms, this could really mess up your trading.
The good new is that the Lightspeed Trader platform has great indicators. They are the same ones that you’d use with other day trading brokers. Studies such as simple moving average, exponential moving average, volume weighted average price (vwap), bollinger bands, relative strength index (rsi), MACD, fibonacci retracement, and more.
What’s nice is how clean the indicators look on LS charts. They are as good as the ThinkorSwim platform. If you compare them to the Das Trader platform, it’s almost night and day how they look. DAS charting looks like they are stuck in the 80’s or 90’s which is a bit frustrating.
Lightspeed Trader Paper Trading Tutorial Demo
Lightspeed has a great paper trading platform and they also give you a demo to get started. If you go to their website you can try a demo before you fund an account. We suggest doing this. It will help you to get the feel of their platform before trading with real money. ThinkorSwim has one of the best paper trading platforms in the industry but LS is neck and neck with them and they are much better for day trading.
We’ve had experience using several brokers and LS is by far much easier to setup than other brokers. Interactive Brokers was a nightmare to setup and you had to hunt around to get answers. Their customer service was also sub-par. TD Ameritrade has an awesome paper trading platform with endless features but is very cumbersome and difficult to get setup.
It only took us an hour or two to get our Lightspeed platform setup and we didn’t have to search endlessly for Lightspeed tutorials on how to get started. They also have quick tutorial videos on their website that get right to the point which are very helpful. We did the same in our Lightspeed tutorial course. Also, check out our Lightspeed Review.
Paper trading is a great way to get a feel of how the LS platform works in the real-world. Just be aware that it is a paper trading platform and order fills might be a bit slower in live market action, but actually not by much. Again, their order execution speeds are really impressive. So, we encourage you to get your platform setup the way you’d like it in live market action, then practice making a few hundred trades before trading with real money.
We have high standards when it comes to customer service, since we’ve used and currently still use other brokers in our trading community. Again, we use TD Ameritrade as the pinnacle when it comes to customer service. We’ve called TD hundreds of times over the years and their customer service is top notch.
Interactive Brokers customer service is so so. You get what you need done but sometimes they are a bit rude or abrasive. They seem to just want to get you off the phone.
Speed Trader customer service is great but they rely on DasTrader’s platform. Das Trader is not very fun to deal with for customer service and tech support questions or issues. Not sure if they have made improvements to their tech support over the past few years but they were awful and very rude when we reached out to them several times in the past to get our platform setup. They seem to live in the past with their platform and don’t act like they are open to updates and feedback.
Lightspeed on the other hand has very good customer service. We’ve reached out to them several times and they are very helpful. Then again, you don’t really need to reach out to them much because their platform is very easy to use and they have simple tutorials to answer the most pressing questions.
Is Lightspeed Trader Platform Good for Shorting?
The Lightspeed Trader platform is great for shorting. Just look for the green letter E on level 2. They have really good short locates if the stock isn’t easy to borrow. Just submit your short request and they will come back quickly with the cost if shares are able to be borrowed.
To see if shares are available to short just type the stock symbol into level 2. E: means that the stock is Easy to Borrow. T: means Threshold and can’t be shorted. L: means that the stock might be able to be borrowed but needs to be located through the Short Request Form.
Get Your Free Courses ($3,000+ Value)
How Much Does Lightspeed Trading Cost?
Get Your Free Courses ($3,000+ Value)
What Platform Does Lightspeed Trader Use?
Lightspeed has their own flagship trading platform called Lightspeed Trader. It’s a solid platform for trading both stocks and options. Sterling Trader Pro is able to be used instead of their platform if you’d prefer. The Lightspeed Trader platform is tailor made for day traders looking for fast real-time quotes and fast order executions.