Are option and stock trading available?
Yes, TradeHawk has its roots in options trading but offers stock trading as well. TradeHawk arranges both its options and stock windows in vertical towers. One-click order entry is available in both options and stocks.
How do I get started with TradeHawk?
TradeHawk is a trading platform that is fully integrated with Tradier Brokerage. What does this mean?
- TradeHawk is not a broker dealer
- Tradier handles all brokerage and account issues
- As an account holder, you will deposit funds at Tradier Brokerage (visit brokerage.tradier.com for more info)
- Once you have an account at Tradier, you must authorize TradeHawk to access your Tradier brokerage account in order to trade
How do I sign up and get trading on TradeHawk?
- Visit the Sign Up section at www.mytradehawk.com
- Once you sign up with us, you will be given a username and temporary password
- The system should begin downloading automatically. If not, tab to the DOWNLOAD section in our website
- Download the system to your desktop after which you will get the TradeHawk icon. Double click the icon to get going!
You will be asked to authorize TradeHawk to access your Tradier account. Hit Authorize which will take you to the Tradier website where you will enter you Tradier username and password and Approve Access. Once this process is complete, you're ready to get trading!
What if I don't have an account at Tradier yet?
Here’s the deal. In order to begin trading for real, you will have to set up an account at Tradier Brokerage (brokerage.tradier.com). However, TradeHawk will set you up with a Paper Trading account so you can “kick the tires” before you open your account at Tradier Brokerage.
How do I get a Paper Trading Account?
Go to www.mytradehawk.com/sign-up and register for Paper Trading. We will create your username and password which will be used ONLY for logging into TradeHawk. Please note that these credentials are used for BOTH Paper Trading and real trading if you have an account at Tradier.
What are the minimum system requirements?
Tell me about the unlimited, commission-free trading features with TradeHawk.
TradeHawk and Tradier Brokerage have teamed up to offer our customers a dynamic, comprehensive trading platform. When you sign up, download, and use TradeHawk, you will choose one of two monthly plans:
- Pro: stock and options. Pay $69 per month for TradeHawk plus $.35 per contract and $3.49 per equity order. NO MINIMUMS*
- Unlimited (Elite): unlimited, commission-free stock AND options trading* for only $159 per month!
*prices exclude exchange, SEC and OCC fees. Visit brokerage.tradier.com for more information.
Ok, great. Please explain. Well, first you should choose a plan best suited for your trading needs. Stock only? Email us at [email protected] and ask for the Stock Hawk plan. It could be $19 per month for unlimited stock trading! Are you a little less active with trading stock and options? Perhaps the Pro Plan works for you. An important feature of Tradehawk is the Strategy Tracker. Create, name, and save unlimited Strategies. Use this feature to practice your trading ideas and monitor your performance with real-time prices. For those of you who are active stock and options traders, the Unlimited Plan makes the most sense.
At just $159 per month, it doesn't take long at $.75 per contract at other brokerages to get to and surpass $159 for the month.
Keep in mind, TradeHawk is a front-end, user interface that offers feature-rich functionality for you to execute, manage, and evaluate your option and stock portfolio.
Tradier Brokerage gives you all the benefits of a full service broker dealer.
How do a create a spread or complex order to send to the marketplace?
We use color coding through much of the system for speed and confidence.
Spread building is easy and intuitive.
- First click on your spread ticket in the Hawk Command Center to make it active.
- Next, in the Option Tower or Chain, click on the bid of an option to add a buy leg to the spread ticket, and/or the offer (ask) of an option to add a sell leg to the ticket. Tradier Brokerage currently allows up to a 4-legged spread. Should the spread that you added to the Spread Builder be one commonly recognized, the name of the spread and whether it is long or short will be displayed in the ticket. If not, the system will call your spread Custom Spread.
- Adjust your size and price if desired (the midpoint price of the spread is always given as a default).
- Click PREVIEW to check out your spread before sending. Click What-If to send to the Risk Simulator for a more detailed analysis, or Click SEND to launch your order to the marketplace!
In the example above, we chose a Long Iron Butterfly. Notice how the ticket shows a Join price, a Midpoint Price, and a Trade Price. Clicking on these buttons will fill in its price. You can always fine tune your price by double clicking on the price in the Price Box and typing or using the drop down button to toggle a price up or down. A visual note: remember that the color of the text in the Join, Mid, and Trade buttons indicates whether the spread is a CREDIT (green), DEBIT (red), or EVEN (blue) money spread. In the example above, the prices are green, thus indicating that the spread’s market is a credit.
The system will automatically determine whether a spread is a debit or credit.
To remove a leg, click the "-" sign on any leg. To change from open to close, click on the "O" or "C" in any leg.
To change the ratio of a leg, double click on the number in any leg. You will get a drop down to change the size. Clear the entire spread by clicking the CLEAR button. Flip and spread by clicking the FLIP button.
We use color coding through much of the system for speed and confidence.
What sort of risk management tools exist within the system?
TradeHawk specializes in simple, effective risk management. There are two main risk management tools within the system: the Risk Portfolio and What If Risk Simulator. The Risk Portfolio compiles all of your positions and displays P$L and Greek Risk in each individual class. Further, the user can drill down to an individual option series for risk in addition to defining risk thresholds to create visual alerts when thresholds are exceeded. Click to trade from the Risk Portfolio: click on a position in the Position column to populate an option or spread ticket. Click on a bid or ask to populate any ticket.
The What If Risk Simulator allows the user to enter an entire position, single option, spread, or an entire strategy to analyze risk and P&L across price, volatility, time, and interest rate changes. Further, the trader can add simulated “legs” to any position to analyze its effects on the entire position.
What do the Vol Settings do on the Wisp?
These tabs allow you to Lock the current implied volatility into the system. As the stock and options change, the system remembers this last capture of implied volatility and computes theoretical value from those implied volatility levels.
Follow Imp will constantly adjust the implied to the market midpoint implied volatility.
Set to Imp will reset implied volatility to the current implied. The Vol. Workshop is in beta. This feature gives users enhanced functionality when computing volatility. The Vol. Workshop will allow you to create a volatility curve for each month and use it to compute your option values.
Will there be more spread choices on the Wisp?
TradeHawk will continually roll out new features. We are working to add common spread choices to this drop down. In the meantime, choose the spread ticket, and click on the Wisp’s bids and offers to create your spread. The system recognizes common spread choices. If not, then TradeHawk will display Custom Spread.
What does the Strategy Tracker do?
The Strategy Tracker allows you to create unlimited trading ideas, whether actual trades or simulated, and monitor each strategy's performance. When you create a strategy, you will name it and add specific trades or spreads to your strategy. The Tracker will keep the P&L of your entire strategy from beginning to end with each and every adjustment to that strategy. Send strategies to the What If Risk Simulator for further analysis.
Does TradeHawk support futures?
TradeHawk has the capacity to price futures-based products; however, at the current time, our brokerage partner, Tradier, does not support futures trading.
For more information, contact Tradier Brokerage at [email protected]
Can you build a spread using stock?
Yes, click on the Spread Tab to make it active. First choose your option. Next, to do a delta neutral spread with stock, choose the 0 Delta button on the Spread ticket. This action automatically fills in the appropriate number of shares based on the option’s delta.
If you’d like to do a spread in a 1:1 ratio, again, first choose your option, then simply click on the Buy-Write tab on the ticket. The system will create a 1:1 ratio of options and stock.
The Flip button allows you to invert the current spread. Clear will remove the legs in your Spread ticket.
Can you access risk in a position at different points in time?
Yes. TradeHawk offers its proprietary What If? Simulator. You can compare your current position against custom dates in the future to analyze how your position changes across stock price, time, volatility, and interest rate variances. Further, you can analyze individual option and spread orders too.
Are there any volatility setting features besides implied for options?
Yes. TradeHawk has the Volatility Workshop in beta. You can set and adjust each expiration’s volatility curve. Use your curve to price options on the Wisp.
Is there a settings page to set parameters within the system?
Yes. On the main menu, under MISC or along the central command center are tabs called SETTINGS. Click or choose this tab and a settings page will come up that looks like this:
Within this template, you can set color alerts for Greeks, P&L, theoretical value violations, interest rates, and default trading sizes for stocks, options, and spreads. Keep in mind that you have a default setting for your account in addition to the ability to set individual stock parameters.
My anti-virus software prevents me from running TradeHawk.
Most anti-virus and malware applications allow you to place an exception. Go to the Settings page in your anti-virus software and make an exception for TradeHawk.exe.