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The Best Trading Platform for Mac Users (Motivewave Walkthrough) — Transcript

by Daniel Inskeep · 4,204 words · 592 segments · language en · Watch on YouTube

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0:00I've traded on many platforms over the
0:01last few years but motive wave is my
0:03current favorite and I believe it's
0:04highly underrated in this video I'll
0:06show you how I set my charts up along
0:08with some tips and tricks that I've
0:09learned along the
0:12way so why motive wave well my focus is
0:16on Futures Trading and motive wave might
0:17be the only full featured platform to
0:19run natively on a Mac computer and be
0:21Futures friendly a couple of key points
0:24before I dive in one this video is not
0:25sponsored by motive wave they didn't ask
0:27me to make it I just think it's a great
0:28platform and it's it's not perfect there
0:30are a few quirks to it that make it a
0:31little different than some of the others
0:33but overall it is really comprehensive
0:35while still being fairly user friendly
0:37second motive wave is just a platform
0:39you log in with your broker credentials
0:40to connect motive wave to a data feed
0:42and execute trades they support a lot of
0:44different connections so for instance
0:46I've used motive wave with Apex and TOP
0:48Step accounts and my Edge clear account
0:50but they also support a lot of popular
0:51Forex and crypto Brokers as well third
0:54motive wave does cost money they have
0:55different plans with different features
0:57but they do have a two-e free trial if
0:58you want to give it a test drive I
1:00signed up for the orderflow plan and
1:02purchased the license in four monthly
1:04installments believe it was about $600
1:06total fourth another option for getting
1:07Mo of wave is to actually check out Edge
1:09clear's white labeled version of motive
1:11wave called Edge Pro X it's essentially
1:13the same thing but has some pre-built
1:14templates and includes a few other
1:16proprietary additions and fifth this is
1:18by no means a comprehensive guide or
1:19anything I'm still learning the ins and
1:21outs of the platform but hopefully this
1:22helps you get started all right let's
1:24dive into the
1:25[Music]
1:26platform upon launch you need to set up
1:28a workspace this basic basically tells
1:30motive wave how to connect to your
1:31broker I keep my workspace in the cloud
1:33so if I switch over to my laptop the way
1:36everything is set up stays
1:39consistent in the license drop down you
1:41just paste in your license key you don't
1:43need any other login for motive wave
1:45other than the
1:46[Music]
1:48license once you launch you're in
1:50console mode by
1:51[Music]
1:53default now before you get too excited
1:55let's go to configure preferences you'll
1:57likely be visiting this menu a lot as
1:59you get AC to the software you have your
2:01top line of tabs and then submenus for
2:03each section in a second row of tabs on
2:06this General section of the general menu
2:08I will turn off link stacked charts I
2:10hate that this is on by default
2:11basically if you have multiple charts up
2:13with different tabs on each changing the
2:15tab of one chart automatically changes
2:17the tab on the other chart I don't like
2:19it but maybe it works for you I also
2:21have mask account enabled showing the
2:23last three digits of my account number
2:24just because I do live streaming and
2:26screen record often you can then pop
2:28over to the keyboard section and add add
2:30quick Keys If you so desire change how
2:32your scroll wheel adjust your charts in
2:34the mouse section adjust well fonts in
2:37the font section don't forget to click
2:39the drop down arrow to see more menu
2:40options if your window size is cutting
2:42off all of the options the theme menu
2:44allows you to change the colors of your
2:45windows and charts and bars but let's
2:47hop over to the Chart menu I'm going to
2:49go to the time access submenu I like to
2:52have vertical lines on my chart
2:53indicating the open and close of the
2:54regular trading session so I will click
2:56the check boox on start of day click the
2:59other check box and then make it a green
3:01line I'll then enable end of day click
3:04the check boox next to the color swatch
3:06and make it red the next adjustments
3:08I'll make are in the options submenu
3:10I'll uncheck use Untitled analyses I'll
3:13cover this in a few minutes but you can
3:15decide for yourself if you want that on
3:16or off by default I also like to have
3:18the Crosshair and Global Crosshair as
3:20well I don't like a double Crosshair I'm
3:23going to turn off auto scale which
3:24automatically adjusts bar sizes to fit
3:26everything into your window you can turn
3:28off or on any of these other options
3:29like showing your trades or orders I
3:31like enabling the p&l ladder which will
3:33display potential profit and loss
3:35alongside the price axis all right let's
3:38hop over to the bar size selector this
3:40lets you quickly adjust time frames at
3:42the bottom of your chart so put your
3:44favorite go-to time frames here here are
3:46all of mine okay next up is the toolbar
3:49menu it looks a little overwhelming at
3:51first but it's not too bad there are
3:53several different toolbars you can
3:54customize the first being the very top
3:56toolbar just add whatever you think you
3:58might want to have hand
4:00and then just remove what you don't need
4:01it'll probably take a few days or even
4:03weeks of spending time in motow wave to
4:04realize what you'll want at the ready
4:07you can click apply to see changes you
4:08made go into action while you continue
4:11to make
4:13adjustments there are a few drawing
4:15tools I often use and I put those in the
4:17top two menu which is the toolbar right
4:19underneath the main one the tools I use
4:21are drag Zoom select and text I throw a
4:24little separator in there then the line
4:26tool ellipse profit and loss buy profit
4:29and loss sell Fibonacci extension a
4:31labeled line and support and
4:35resistance okay that should be enough to
4:37get us started so let's close out of
4:41preferences take a look at the tabs on
4:43the bottom there are Pages for orderflow
4:46account trade report options scan and so
4:49on and so forth to create your own
4:50layout click the plus sign on the far
4:52right they have different templates you
4:54can choose from but I want to show you
4:55where I spend 99% of my time and that is
4:58with a floating setup I'll start from
5:00scratch they've got a couple of charts
5:02open I'll close
5:04one and I don't need the tab of the
5:06other chart either as it stands this is
5:09a far cry from a helpful layout but hold
5:11your horses my setup has evolved over
5:13time but since my primary focus is on
5:15trading es and NQ features I want to
5:18split my screen real estate the top half
5:19I'll devote to es and then the bottom NQ
5:23I like three charts for each a higher
5:24time frame on the left a one or 5 minute
5:26in the middle and then a Delta footprint
5:28chart on the right I want a Dom or depth
5:30of Market on the middle chart since that
5:32is where I'll be executing my
5:36trades okay now is the time to cover
5:38analyses now as far as I know this is
5:41something unique to motive wave an
5:43analysis contains all of the studies and
5:45drawings that you add to your chart so
5:47let's say you like to chart out supply
5:48and demand zones you can do that on your
5:50chart save the analysis then let's say
5:53you want to do a different type of
5:54analysis without those drawings getting
5:56in your way you can now create an
5:58alternative analysis slap on whatever
6:00indicators you like and bust out your
6:02Crayolas you can easily flip between the
6:04two now I mentioned earlier I like to
6:05use different time frames when creating
6:07a new chart the default nature of motive
6:08wave is to make that an Untitled
6:10analysis meaning if you close out of the
6:12chart you lose all the work you did on
6:14it it is not a safe setup and it's not
6:16going to be tied to any other chart on
6:17your screen for me personally I want to
6:19see my precious levels on both time
6:21frames so I'd want both es charts to use
6:23the same analysis and then both NQ
6:25charts to have their own analysis let me
6:27show you so first let me change this
6:29chart to es just click in the top left
6:31box and type in the ticker you want at
6:33the bottom are the time frame selectors
6:34we chose earlier so I'll keep this one
6:36at 15 minutes I'll then click on the
6:38floppy disc icon with the three dots to
6:40do a save as for the analysis I'll call
6:42it
6:43es Now to create a new window in this
6:45floating layout go to Doc New Station
6:48chart if you want the chart to have the
6:50same drawings and indicators as our
6:52current chart uncheck Untitled and
6:54choose the name of the analysis you just
6:56saved you can then set the bar size I'll
6:59choose 1 minute we don't need to inherit
7:01settings from that other chart or link
7:02it just yet click okay this chart will
7:04go side by side the 15 minute now for
7:07this chart I want the Dom so I'll click
7:09on this icon to enable it and then just
7:11resize
7:12[Music]
7:17everything okay one more chart for ES
7:19the Delta footprint again I'll go to Doc
7:22New Station chart this one doesn't need
7:24all the drawings or indicators as the
7:26others so I'll want Untitled to be
7:28checked the bar size I'll change in a
7:30minute and it doesn't need to inherit
7:31settings from the active chart I'll
7:33reposition the
7:35chart then double click the chart to
7:37open chart settings go to Bar settings
7:40under bar type choose no bars under bar
7:43size change linear to range for the
7:46interval I use a 20 range chart for ES
7:48which prints a new footprint after price
7:50moves out of the 20 tick range okay with
7:52that all set you may be wondering great
7:54but where's my footprint well we've got
7:56to add it as a study right click the
7:59chart add studies volume based volume
8:02imprint it'll automatically open the
8:04settings for volume imprint for column
8:06one I'm going to change profile to Delta
8:08there are a lot of settings you can
8:09really dive into with this so just play
8:11around with the different settings in
8:12each menu to develop something that
8:13works for you here are my settings pause
8:15the video if you want to copy
8:18[Music]
8:21them the other component I add up here
8:23is my account maybe you don't want to
8:25see that so feel free to leave that out
8:27if you don't want
8:28it
8:31another thing you may want to do is link
8:33your charts click on the chart then
8:35click on the broken paper clip and
8:36select a color now you can do the same
8:38for the other chart now linking can do a
8:40couple of things let's go back to
8:42configure preferences and click on the
8:44linking submenu by default we can have
8:46groups linked by bar size timeframe or
8:49by instrument the none option is used in
8:51replay mode so I could make all my es
8:53charts be tied together so if I change
8:55the ticker all of my top charts will
8:57change the same instrument now since I'm
8:59consistent ly trading the same two
9:00things es and mq I would rather link my
9:02higher time frame es chart with my
9:04higher time frame mq chart and same with
9:06my smaller time frame charts so I'll
9:08change the default link type to link bar
9:10size that way if I change the 15 minute
9:12to 1 hour both the es and NQ 15-minute
9:16charts will change together to 1
9:18[Music]
9:20hour since my NQ charts will have very
9:22similar settings to the corresponding es
9:25chart above it I'll click on the
9:2615-minute es chart go to Doc New Station
9:30chart change the symbol to NQ use an
9:33Untitled analysis and make sure inherent
9:35settings from active chart is checked
9:37now when I click okay I should have a
9:39carbon copy of the es chart but for NQ
9:41I'll reposition it and then save as to
9:44create a NASDAQ
9:47analysis now I'll click on that one
9:48minute es chart go to Doc New Station
9:51chart change the ticker again to NQ
9:54uncheck Untitled analysis and instead
9:56select the NQ analysis that I just
9:58created and click okay remember if you
10:00don't want your drawings and studies to
10:01be the same across these charts do not
10:03use the same analysis when setting up
10:04the second chart just keep it Untitled
10:07I'll reposition this one and one final
10:09time for the footprint
10:13chart now the volume imprint study from
10:15the es chart did not copy over to this
10:17new NQ chart so the easiest way to get
10:19it over to NQ is just to create a
10:21template out of the es Delta footprint
10:23in all those settings we made I'll right
10:25click the chart go to template save as
10:27template I'll title it check all the
10:29boxes and choose save as down in the
10:32NASDAQ footprint I can simply right
10:34click template Delta footprint and boom
10:37all my settings are now loaded up since
10:39NQ moves faster than es I do change the
10:41range size to do so double click the
10:43chart go to Bar settings and adjust the
10:45range size I'm currently using 80 ticks
10:48for the
10:48[Music]
10:50range so now I'll add a few indicators
10:53and studies I'll right click my 1 minute
10:55es chart and add
10:57volume I'll display the moving average
11:00line just personal preference I like to
11:02use vwap or volume weighted average
11:04price so I'll add that
11:06next I always make my vwap line orange
11:09and use the extended session so after I
11:11make those changes I'll go to defaults
11:13save defaults so that way when I add
11:15vwob to a chart it always shows up how I
11:17like it now I like having pivot Points
11:18on my chart as well so I'll right click
11:20add study overlays but if you don't want
11:22to search through the submenus of
11:24studies you can always just go to all
11:25studies and type in what you're looking
11:27for and add it to your chart that way
11:30[Music]
11:31let's add volume profile as
11:34well on the display tab I'll move it to
11:36the left side in the value area tab I'll
11:39show value area in the options tab I'll
11:42check the box for underlay so that way
11:44it'll always be underneath the
11:45candlesticks instead of on top of them
11:46it just makes it easier to see the
11:48candles since my studies are copying
11:50over to the 15minute Chart things can
11:53start to get a bit messy I may only want
11:54to see volume profile on the 1 minute
11:56chart and not the 15minute or vice versa
11:58so where's says visibility you can
12:00choose what time frames it'll show up on
12:03so I might want to show it on time
12:04frames more than 5 minutes so I'll
12:06choose the greater than symbol and then
12:07change that to 5 minutes you can do this
12:09with any study on your chart so maybe
12:11you don't need vwap on the 15-minute
12:13just open the vwap settings by double
12:14clicking it at the top of the chart go
12:16to options visibility less than 15
12:25minutes once you have all of your go-to
12:27studies on your chart you may want to
12:29save this as a template just like we did
12:30earlier with the Delta footprint chart I
12:32use the same indicators and settings for
12:34Nasdaq as I do for ES so I can save it
12:36as a
12:37[Music]
12:39template then right click my NASDAQ
12:41chart and then select the template to
12:43slap on all those studies on my
12:46charts now speaking of templates if you
12:48use supply and demand zones or SMC or
12:50some other type of analysis that
12:52requires you to reuse different drawing
12:53elements you probably want to make these
12:55drawings their own template for instance
12:57I use supply and demand so I like to
12:58have drawings that that are colored and
12:59labeled for different time frames I'll
13:01make the
13:03drawing label it adjust the settings how
13:06I like it then click template save as
13:09template then in the future when I find
13:11another 1hour demand zone or whatever I
13:13just draw the line right click it and
13:16apply the 1hour demand template to it
13:18now it's got the label color and any
13:19other settings I want automatically
13:21applied by the way since I made this uh
13:23template I no longer have my study
13:25preferences at the top of my chart so I
13:27can just go into the chart preferences
13:30and show the study
13:35labels with everything set up pretty
13:37nicely I want to show you how I set up
13:39bracket orders or Oco orders with
13:41brackets enabled when you place a trade
13:43it'll automatically set orders for
13:44coresponding stop- loss and take profit
13:47if your stop- loss is hit your
13:48takeprofit is canceled if your
13:50takeprofit is hit your stop loss is
13:51canceled I use these types of orders all
13:53the time with features trading on the
13:55Dom choose the settings icon navigate to
13:57the last menu exit Str IES click the
14:00plus sign to add one I'll call this one
14:02es Runners I want to have a fourpoint
14:05stop loss and an 8-point takeprofit by
14:07default but I only want to exit half of
14:09my position at 8 points the other half I
14:11want to hold for 12 points so in the
14:12first row I'll change the quantity to
14:1450% the stop offset is in ticks so four
14:17points is 16 ticks the target offset is
14:19my take profit and I want that to be
14:21eight points which is 32 ticks in the
14:23second row I'll type in 50% for the
14:25quantity again my stop will be the same
14:2716 ticks my target will be 12 points or
14:3048 ticks I don't need the third row so
14:32I'll click the red X to delete it then
14:34I'll click okay now on the Dom below the
14:37trade buttons is the option to select a
14:39bracket order click the power button to
14:41enable it then choose the strategy you
14:42just created and you are good to
14:47go if you are trading multiple accounts
14:49maybe they are funding firm evaluations
14:50or funded accounts you can use motive
14:52waves built in trade copier to take the
14:54same trade across all of your accounts
14:56go to file new trade copier account you
14:59need to set a lead account that will be
15:01copied across the others then you add
15:03your follower accounts now there are a
15:05couple of cool features here I want to
15:06highlight first if you have different
15:08account sizes you can actually adjust
15:09your position sizing on your follower
15:11accounts so if your lead account is a
15:1250k account but your follower account is
15:1515K account you can multiply your orders
15:17by three or whatever amount you want
15:19conversely if your lead account is a
15:20150k account and your follower account
15:22is a smaller account you can choose to
15:24cross trade your follower to a micro
15:27contract which is one10 the size of a
15:28mini contract so if I wanted my follower
15:31to trade half the size of my lead I
15:34could type in 05 for the quantity
15:35multiplier to cut it in half except you
15:37can't trade half of one e mini contract
15:40so alternatively I would enable cross
15:42trading and type in five for the
15:44multiplier so I'll take five micro
15:45contracts for every one mini contracts I
15:47take on a lead account hopefully that
15:49makes sense now for my case here all the
15:51account sizes are roughly the same so
15:53I'll leave the multiplier at one and I
15:55don't want cross trading on I'll then
15:56click the plus sign and add all my
15:58accounts
16:00give the copy your name I'm going to
16:01copy trades across 10 Apex evaluations
16:04so I'll title mine 10x then click okay
16:06to take trades using the trade copier in
16:08the Dom change the account to the trade
16:10copier we just
16:12[Music]
16:15created speaking of cross trading I
16:17often take trades on micro contracts of
16:19es or NQ but I still like to chart on
16:22the e- mini version of each so one of my
16:24favorite features of motive wave is the
16:25cross trade feature simply rightclick
16:27and you can select to cross trade to the
16:29micro version of that contract when I
16:31want to trade full size I disable that
16:33feature just always remember to check
16:35the status whether or not you're cross
16:36trading before you enter a trade so you
16:38don't actually go in with five minis
16:39when you wanted five micros it'll tell
16:41you at the top of the chart in
16:43parenthesis if you are cross
16:47trading okay there are a few things I
16:49want to point out that may help you
16:51navigate around your charts first is
16:53auto scale with this enabled your charts
16:55y AIS will automatically adjust in size
16:58to fit all the candles from your x-axis
17:00into view this can be helpful but I
17:02often like to paint around my charts
17:03freely so I usually leave this turned
17:05off to the left is lock scroll this will
17:07synchronize your scrolling across your
17:09linked groups so I can turn it on and go
17:11back on my 15-minute charts across both
17:13indices or the one minute chart
17:15depending on how you use your groups
17:17this can be a really nice feature to
17:18have on one thing I want to fix is I
17:20actually have both volume as an overlay
17:21on my charts and as a sub chart beneath
17:24it I'm going to delete one of them
17:25because it's just duplicate
17:27information
17:29there's actually something weird going
17:30on with my top menu it's missing a few
17:32things so let me fix
17:36that here we go two circles icon will
17:39show your trades for the active chart
17:41and the two rectangles will show your
17:43orders I turn these on and off
17:45throughout the day so I like to have
17:46them handy on the top menu if you are in
17:48a trade and forgot to enable your
17:49bracket exit strategy or you just want
17:51to add a stop and take profit turn on
17:53your brackets then click on the
17:55paperclip icon to attach an exit
17:57strategy to your current trade
17:59I can then click and drag the orders to
18:00exactly where I want
18:02them and a little Quirk I ran into when
18:04drawing trend lines after I drew the
18:06lines I would find that they would shift
18:07throughout the day as I navigated around
18:09the charts to stop this from happening I
18:11make sure to Anchor the line to a
18:13completed candle then just right click
18:16and extend the line this has helped keep
18:18them from shifting all around and then
18:20if you ever want to chart full screen
18:21you can just double click the tab and it
18:23will maximize do what you want then
18:25double click again to get back to your
18:27main
18:27layout
18:30similar to On Demand in thinker swim or
18:32other types of historical playback
18:33features in other platforms you can turn
18:35on replay mode by clicking this icon or
18:38we're going to view replay mode the
18:40Bottom bar is your replay controls so
18:42select a time and date click the power
18:44button to turn it on and boom you are
18:47back in time and now you can stop the
18:48Kennedy assassination or whatever the
18:50play button will just play forward one
18:52tick next button will play to the next
18:57candle
18:59and the button to the right of that will
19:00play through until you stop
19:03it a simulated replay trade account will
19:05be created for any simulated trades you
19:07want to
19:10take if you have the pro version of
19:11motive wave you can even back test
19:13strategies that will enter an exit
19:14trades for you based off set parameters
19:16I don't have that version so I can't
19:18show
19:20you that wraps up just about all the
19:22things I found essential to getting
19:24started with motive way for how I like
19:25to use it again it's a super powerful
19:27platform you've got Heat heat Maps
19:29Footprints TPO charts pretty much
19:30whatever you can need I do have a link
19:32in the description if you want to try
19:33out a 2E free trial if you have any
19:35questions about Mo of wave remember I'm
19:37not motive wave support they have a
19:39pretty extensive documentation on their
19:40website and you can then just search for
19:42whatever you need or just reach out to
19:43them directly but if you have questions
19:45specifically about my setup feel free to
19:47go Hog Wild in the comments below I'll
19:49see you in the next
19:57one
20:01he

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