Hello and welcome to the Quick Start video for the All-in-One Trade Tool available in Charles Schwab's StreetSmart Edge platform.
Open the All in One trade tool by going to Launch Tools and selecting All in One Trade Tool.
The All in One trade tool is the most dynamic, advanced trading tool in the StreetSmart family of software, offering unprecedented flexibility, particularly around option trading workflow.
Like most tools in StreetSmart Edge, the All in One trade tool has a tabbed interface, where you can customize the contents of each tab making it easier to trade your favorite strategies.
Depending on the strategy you select, the trade ticket automatically updates along with the relevant quotes data or option chains.
If you often trade, for instance, vertical call spreads, you can create a Vertical Call spread tab rather than having to set the Options tab up for vertical call spreads each time.
If you are an equities only trader, the default Stock/ETF tab will be your place to be. It includes NBBO, Market Depth and Time & Sales data.
Add a Leg – Quickly turn a stock or option order into a multi-leg order using the "Add a Leg" button.
Remove a leg – Click the "-" button for the leg you wish to remove.
As a benefit, when you make changes to the first leg of the strategy, the other legs will be updated to stay within that strategy.
The All in One Trade tool is loaded with data to help you with decisions. Let's start at the top with the Title Bar and Level 1 Data.
The Title Bar will display the last trade price, change direction, and change from the previous close, as well as the full name of the company or index and exchange.
Right below the Title Bar is the Level I data, as well as the Order Status and Position Indicators, which show whether our account has open order or positions in the selected symbol.
Customize your Level I data by clicking on the gear icon.
In addition to the standards, (Bid, Ask, Hi, Low, Open, Close, Volume) you can also select data such as 52 Week High or Low, Put/Call Ratios, and Implied Volatility Rank/Percentile and many more.
Other data Available in the All in One Trade Tool includes the Trade & Probability Calculator and Top Movers.
The Trade & Probability Calculator shows a visual representation of the risk/reward of an options strategy to help you quickly assess option trade risk, based on the price of the underlying on certain dates, using the Black-Scholes option pricing model.
It also plots the (theoretical) probability of the underlying symbol price at any point in time up to the expiration date.
The Top Movers view will display the top volume, top gainers, and top decliners for a single underlying symbol.
This concludes this Quick Start Guide for the All in One Trade Tool for StreetSmart Edge platform.
Please check out the Learning Center, and the Online Help Manual, both of which are located under the Help Menu.
Additionally, you can visit the calendar on Schwab.com/live for a schedule of upcoming live platform videos.
Thank you for choosing Charles Schwab and have a great day!