Trading Tutorial

Welcome to Ready Set Trade
Everything you need to connect Alpaca, set up Hyperliquid perps, and use the terminal safely.

Ready Set Trade is a web-based trading terminal for stocks and options through Alpaca plus perpetual futures through Hyperliquid. Open /app to choose a venue, research a market, place an order, review positions, follow traders, or ask the built-in AI assistant for read-only research. This tutorial covers the setup paths and the controls that are available today.

Paper & Live Trading

Practice Alpaca stock/options trades in Paper mode, or switch to Live for real-money Alpaca orders. Hyperliquid perps use the separate Perps wallet.

Hyperliquid Perps

Set up a self-custody wallet, fund it with native USDC on Arbitrum, and trade perpetual futures from the Perps venue.

Signals & Copy Trading

Review X Signals, follow callers or users, and choose between manual Copy and explicitly enabled automatic Mirror.

AI Chat

Use platform-provided AI Chat for read-only stock research, account context, filings, news, and reviewed order drafts.

Estimated setup time: 5–10 minutes. Follow the steps below in order.
Step 1 - Create an Alpaca Trading Account
Alpaca is the broker that executes your trades - connect a free paper (simulated) account or a live (real-money) account.
1
Go to alpaca.markets and click "Sign Up". A paper (simulated) account works for testing; choose a live brokerage account only when you want to trade real money.
2
Click Trading Dashboard, not Documentation or API Reference, then switch to the account you want to connect - Paper for test keys or Live for real-money keys.
3
Open Home, or go directly to app.alpaca.markets/dashboard/overview . Scroll to the bottom-right API Keys card.
4
Click "Generate New Keys". You will receive two values:
API Key IDCopy this into Ready Set Trade's API Key ID field
Secret KeyShown ONLY ONCE - copy and save it immediately!
5
Also note your Account ID. Go to Account → Overview in Alpaca to find it.
Save your Secret Key somewhere safe (e.g. a password manager or a notes app). Alpaca will never show it again - if you lose it, you'll need to generate a new key pair.
New to trading? Connect a Paper account first - it uses simulated money so you can practice the full Ready Set Trade flow with zero risk, then switch to Live when you're ready.
Step 2 - Sign In & Connect Your Account
Link your Alpaca API keys so Ready Set Trade can execute trades on your behalf.
1
On the Ready Set Trade homepage, click the "Sign in with Google" button in the top-right corner and sign in with your Google account.
2
After signing in, click the gear icon in the header to go to the Settings page.
3
On the Settings page, you'll see the "Add Broker Account" form. Fill it in:
BrokerSelect Alpaca
Account TypeChoose Paper Trading (simulated) or Live Trading (real money) - must match the Alpaca account your keys came from
Account IDYour Alpaca account number (from Account → Overview)
API Key IDPaste the API Key ID from Alpaca
Secret KeyPaste the Secret Key you saved earlier
4
Click "Save Credentials". You should see a green success message.
Your API keys are encrypted server-side before being stored. They are never visible in plain text.
Fund Your Account with Crypto
Deposit supported cryptocurrencies directly into your Alpaca account - no bank transfer needed.

This section covers Alpaca crypto deposits. In addition to standard bank-wire (ACH) deposits, Alpaca lets you fund your account by sending crypto from an external wallet or exchange. Once the deposit confirms on-chain, the value is credited to your Alpaca account and becomes available buying power for stocks, options, and crypto trades. For Hyperliquid perps, use the separate wallet and deposit flow in the Trade Hyperliquid Perps section below.

1
Sign in to app.alpaca.markets and open Banking → Deposit. Choose "Crypto Transfer" as the deposit method.
2
Select the asset you want to deposit (e.g., USDC, BTC, ETH, SOL) and then the blockchain network it will arrive on. The asset and network must matchwhat you're sending - see the supported list below.
3
Alpaca generates a unique deposit address for your account. Copy it (or scan the QR code) and paste it into the "send / withdraw" screen of your external wallet or exchange. Double-check that the network you select there matches the one Alpaca showed you.
4
Send the crypto. Wait for the on-chain confirmations - usually a few minutes for Solana, longer for Ethereum or Bitcoin. Once confirmed, the deposit shows up in your Alpaca account and you'll see your Buying Power update in Ready Set Trade on the next refresh.
Always match the network. If you send a token on the wrong blockchain (e.g., USDC on Polygon to an Ethereum address, or BTC to a Bitcoin Cash address), the funds may be permanently lost. Verify the asset and the network on both ends before hitting send.

Reference: Alpaca support docs

Stablecoins

USDG - Global DollarEthereum · Solana
USDC - USD CircleEthereum · Solana
USDT - TetherEthereum · Solana

Other cryptocurrencies

BTC - BitcoinBitcoin
BCH - Bitcoin CashBitcoin Cash
ETH - EthereumEthereum
SOL - SolanaSolana
AAVE · BAT · CRV · GRT · SHIB · SKY · SUSHI · UNI · YFIEthereum only
Paper accounts can't receive real crypto. Crypto deposits go to your Live Alpaca account only. For practice, stay in Paper mode - your simulated cash balance is already credited.
Test with a small amount first.Especially for a new address or a network you haven't used before, send a small test transfer, confirm it lands in Alpaca, then send the rest.
Step 3 - Understanding the Dashboard
Get familiar with the terminal panes, venue switch, and the controls available on /app.

On desktop, /app is organized into three panes (or stacked on mobile). When perps are enabled, the header venue switch lets you choose Stocks or Perps; the right-side account and positions view follows that venue.

Left Column - X Signals

Shows recent trade signals from X and stored signal sources. Each card shows the stock symbol, the message, the source/poster, and how long ago it posted. Click any signal to auto-fill the New Trade form with that symbol. Use the X Signals / Watchlist toggle at the top to switch to your watchlist, and scroll down to the Community Trades feed to see what other members are trading.

Middle Column - New Trade / AI Chat

This column has two tabs: "New Trade" (to place orders - exit plans are set up inline via the OCO order type) and "AI Chat" (to ask the built-in AI assistant about a stock or your account). When you type a stock symbol on the New Trade tab, a live TradingView chart and the current price appear automatically.

Right Column - Account & Positions

Shows your account summary (portfolio value, buying power, and cash), your open positions with real-time P&L (toggle Open / Closed to review trade history), and a separate Open Orders panel listing pending orders. On each position you can edit the stop loss inline (pencil icon) or open the Close Position dialog to close part or all of it as a market or limit order.

Trade Perpetual Futures on Hyperliquid
Set up the self-custody wallet, fund it safely, and then trade from the Perps venue.

Hyperliquid perps are separate from Alpaca Paper/Live trading. Open Settings → Perps to finish setup, or use the same onboarding card in the perps trade rail when you switch the Stocks / Perps venue in /app.

1
Click Connect Perps Wallet if it is shown. On first setup choose Create new wallet or Import existing wallet. An imported private key is placed in the secure wallet enclave and is not sent to the trading server - never share it or paste it into chat.
2
When the wallet is ready, click Enable Perps. This provisions the policy-locked trading agent used to sign orders server-side; it can trade but cannot withdraw. Depending on the account flow, activation may happen automatically or the screen may ask for the one-time Activate Trading signature after funding.
3
Copy the wallet address and send native Circle USDC on Arbitrum only - not bridged USDC.e and not another chain. Keep a small amount of ETH on Arbitrum for gas, then use Refresh to verify the wallet balance.
4
In Deposit to Hyperliquid, enter at least the minimum amount shown in the card and click Deposit USDC. Wallet USDC and Hyperliquid trading balance are separate statuses, so wait for the deposit to finish before placing an order.
5
Once the card shows Active, switch to Perps in /app. Review Long/Short, margin mode, leverage, size, order type, and any Reduce-only or Post-only setting before submitting. The form supports Market, Limit, Stop Market, Stop Limit, and Take Profit orders; higher-risk orders may require an extra review confirmation.
Perps use leverage. Check the coin, side, margin mode, leverage, and USD notional every time. Wallet custody remains yours, and the private key should never be shared; the trading agent is not a withdrawal path.
Step 4 - Place a Market Order
Buy or sell a stock immediately at the current market price.

A Market order is the simplest order type - it executes immediately at the best available price. Here's how to place one:

1
Go to the Dashboard and find the "New Trade" tab in the middle column.
2
In the Symbol field, type a ticker like AAPL or TSLA. A live chart and price badge will appear (e.g., $227.50).
3
Set the form fields:
Asset TypeEquity (Stock)
Order TypeMarket
Time in ForceGTC (Good Till Cancelled) - default
4
Under Action and Direction:
Action"Buy" to purchase shares
Direction"Long" to go long (profit from price going up)
5
Enter a Quantity (e.g., 1 share).
6
Click "Submit Order". A success message will appear and the order will show in your Positions panel.
Risk Calculator: Fill in the Max $ Risk and Stop Loss Price fields and Ready Set Trade computes a suggested share count (Max $ Risk ÷ distance to your stop). A "Size to $ risk → N" button appears above the Quantity field - click it to apply the suggested quantity.
Step 5 - Place a Limit Order
Buy or sell only when the stock hits a specific price you choose.

A Limit order only executes at the exact price you set (or better). Use this when you want to buy at a price lower than the current market, or sell at a price higher.

1
Type your stock symbol (e.g., AAPL).
2
Change Order Type to "Limit".
3
A new Limit Price field will appear. Enter the price you want to buy/sell at (e.g., if AAPL is $230, you might set a buy limit at $225).
4
Set Action to Buy, Direction to Long, and Quantity to 1.
5
Click "Submit Order". The order will remain pending until the stock price reaches your limit price.
Step 6 - The One-Click Exit Plan (Smart Exit)
Equities default to an auto-filled exit plan: a protective stop, a take-profit, and a trailing stop that rides the rest up. Review and submit.

For stocks, the "Buy + Auto-Exits - TP + Stop (OCO)" order type is selected by default and the Exit plan card auto-fills itself. The goal: click a signal (or type a symbol), glance at the plan, and hit Submit.You don't have to babysit the chart - the exits attach to the position on their own.

What the plan does by default once you pick a symbol with a live quote:

  • Stop Loss is set to the Low of Day (for a long) or High of Day (for a short).
  • Max $ Risk is restored to the last amount you used, and your share Quantity is sized automatically from it.
  • A fixed take-profit at 0.4R banks half the position.
  • A trailing stop rides the other half up (trail distance ≈ your 1R risk as a percent of entry), selling only if price falls back by that amount.
1
Type a stock symbol (e.g., AAPL) or click a signal. The Exit plan card fills in Entry, Stop, Quantity, the 0.4R take-profit, and the trailing runner.
2
Review the numbers. Adjust anything you like - tap "Sync Mkt" or the "LOD/HOD" shortcut, edit the take-profit rows, change the Trail % or Runner Qty, or hit "Auto-fill plan" to re-seed everything.
3
Need a different mix? Use the +0.4R / +0.7R / +1R / +2R buttons to add fixed take-profit levels, or check "Trail the whole position (skip the fixed take-profit)" under Advanced Options to let the entire position ride the trailing stop.
4
Click "Submit Order". Your entry is placed immediately. Because a trailing stop can only sit against shares you already hold, the take-profit and trailing stop attach automatically once the entry fills (usually within a few seconds for a market order). You'll see them appear in Open Orders.
SymbolAAPL
Entry Price$230.00
Stop Loss (LOD)$226.00
Max $ Risk → Qty$80 → 20 shares
Take-profit (0.4R)$231.60 × 10 shares
Trailing runner10 shares · ~1.74% trail

1R = $230 − $226 = $4/share. 0.4R take-profit = $230 + $1.60 = $231.60 on 10 shares (an OCO, so it keeps the $226 stop until it fills). The other 10 shares trail by ~1R as a percent of entry ($4 / $230 ≈ 1.74%), locking in more as price climbs and exiting on a pullback.

Step 7 - Use Signals
Review X Signals and use an eligible signal to prefill the stock trade form.
1
Look at the "X Signals" feed on the left side of the dashboard (next to "Watchlist"). This shows recent trade signals parsed from X (Twitter) posts and any signals stored in the app.
2
Each signal card shows:
  • The stock symbol (e.g., $AAPL)
  • The signal message from the post
  • The source it came from (e.g. the X account) and when it posted
  • A "View Original" link (when available) that opens the original post in a new tab
3
Click on any signal - it will auto-populate the trade form's Symbol field with the stock ticker. The signal card will become highlighted with a blue ring.
4
Review the signal details, then choose your order type and settings as described above. Submit the order when ready.
Signals are refreshed every 10 seconds automatically. The feed shows the most recent 50 signals.
Step 8 - Manage Your Positions
Monitor, inspect, and close your open positions.
1
The Account Summary card on the right shows your portfolio overview:
  • Portfolio Value - total value of all holdings + cash
  • Buying Power - how much you can still invest
  • Cash - uninvested cash balance
The card header shows whether you're viewing your Paper or Live account, and the account number (e.g. "Live #1234…") links to your Alpaca dashboard.
2
Below the account summary, the "Open Positions" card lists everything you own. Each position shows:
  • Symbol, side (LONG/SHORT), and number of shares/contracts
  • Entry price and current market value
  • Unrealized P&L (profit/loss) with color coding: green = profit, red = loss
3
Click on a position to expand it and see more details: current price, cost basis, today's change %, and any attached exit orders (stop losses, take profits, trailing stops). You can adjust an existing stop loss without closing the position - click the pencil icon next to a Stop Loss order, enter a new price, and click the check mark to save.
4
To close a position, click the red "Close Position" button in the expanded view. A close dialog appears where you choose how many shares/contracts to sell and whether to close at Market (immediate) or Limit (at a price you set), then click "Confirm Close". Fractional positions can only be closed in full at market.
5
Use the Open | Closed toggle at the top of the positions card to switch between your current open positions and a history of recently closed/filled orders (side, symbol, quantity, fill price, and status).
6
Click "Refresh" to force an immediate update of your positions and account data. (Positions auto-refresh every 30 seconds; the account summary every 60 seconds.)
Follow & Copy Traders
Discover callers and users, then choose a review-first Copy flow or explicitly enabled Mirror automation.

Open Top Traders to vet the Callers ranking or switch to Users. In /app, the Copy Trade panel has All, Following, Callers, and Users sources, plus How it works, Top Traders, and Manage follows controls.

1
Use Follow to add a trader or caller to your Following feed. Following does not place an order; it only keeps that source easy to review.
2
Use Copy for a review-first workflow. The app prefills the appropriate trade ticket for eligible stock, option, or Hyperliquid perp activity, but you must inspect the form and submit it yourself. A copied perp stays on Hyperliquid; it is not converted into an Alpaca equity order.
3
Use Mirror only after the confirmation step and only when the follow is explicitly enabled for automatic copying. Open Manage follows to review the saved destination, sizing, limits, and any per-follow settings. Stopping a mirror does not close an existing position.
Destinations are saved per follow.Stocks and options use the connected Alpaca account; Hyperliquid perps require the separate wallet setup and funding described above. The terminal's Paper/Live toggle does not change a follow's saved destination.
Review automatic perps carefully. In Settings → Copy Trading, set the global maximum leverage before enabling mirror follows. Perp mirror settings may also include a follow-level leverage cap and optional TP/SL percentages; order, duplicate, sizing, and existing-holding limits can skip or cap a mirror. Activity is not a guarantee of fills or performance.
Use AI Chat
Ask the platform-provided assistant for read-only stock research and reviewed order drafts.

In /app, switch the middle pane from New Trade to AI Chat. AI Chat is currently for read-only stock research using available portfolio, filings, and news context; it is not a perps trading assistant.

1
Sign in and connect the trading credentials needed by the terminal. If the panel says Set your trading credentials in Settings to use AI Chat, open Settings and finish the broker setup first.
2
Ask about a stock, your account context, filings, or recent news. Use the suggested prompts when you are getting started; saved chats, New chat, and Clear chat are available in the panel.
3
You can ask AI Chat to draft an order, including the /draft $SYM command. A draft only prefills the trade ticket so you can review it; AI Chat never submits an order automatically.
4
The model is provided by the platform - no separate API key is required. To review the AI Models status, open Settings → AI Models. If the panel says it is not configured yet, contact support rather than entering a key in the chat.
Keep the final decision yours. Read-only research can be incomplete or wrong. Confirm the symbol, side, quantity, price, account, and venue in the trade ticket before submitting anything.
Step 9 - Set Up Auto-Exits (OCO)
Attach a stop loss and multiple take-profit levels to your entry using the OCO order type.

Exit orders are set up inline on the New Trade form - there's no separate tab. For stocks the "Exit plan" card is shown and auto-filled by default (see Step 6). It sets a stop, a 0.4R take-profit on half the position, and a trailing stop on the rest. You can edit any of it before submitting.

1
Enter the Symbol you want to trade (e.g., AAPL), or click a signal. The exit plan auto-fills and is attached to the order you place.
2
Review the Stop Loss (defaults to Low/High of Day) - the price that caps your loss. The Take-profit rows and the trailing runner are pre-sized; tweak prices, quantities, or the Trail % as you like.
3
Want only fixed take-profits and no runner? Uncheck "Trailing stop on the runner". Want the whole position to trail? Check "Trail the whole position (skip the fixed take-profit)" under Advanced Options.
4
Click "Submit Order". Your entry is placed now; the take-profit (as an OCO that keeps the stop) and the trailing stop attach to the position automatically once the entry fills. If you turn the trailing runner off, the app instead submits one linked bracket/OCO order per take-profit level.
TPSell 10 shares at $231.60 (+0.4R) - OCO with the $226 stop
Trail10 shares ride a ~1.74% trailing stop, locking in more as price rises
StopThe take-profit half keeps a hard $226 stop until it fills

Risk per share = $230 − $226 = $4 (1R). The 0.4R take-profit at $231.60 banks half; the rest trails by ~1R as a percent of entry. Both legs attach after the entry fills - until then they wait, because a trailing sell needs shares to sit against.

Tips & Important Notes
Key things to know before you start trading.
Market Hours: Regular-hours orders fill during US market hours: 9:30 AM – 4:00 PM Eastern Time, Monday through Friday. Orders placed outside these hours may be queued or rejected depending on the order settings and Alpaca account permissions.
Paper vs Live: For Alpaca stocks and options, use the Paper/Live toggle in the top bar to choose your account. Paper mode trades with simulated money; Live mode connects to your real Alpaca account and submitted orders use real money. Hyperliquid perps have a separate wallet and do not use this toggle. New users default to Paper.
Security: All API keys are encrypted server-side using AES-256 before storage. Your credentials are never saved or displayed in plain text.

Helpful Trading Terms

Quick definitions - see the Glossary section below for the full list.

Market Order - Executes instantly at the current price. No price guarantee.
Limit Order - Only executes at your specified price or better.
Stop Loss (SL) - An exit order that sells if the price drops to protect against bigger losses.
Take Profit (TP) - An exit order that sells when the price rises to lock in gains.
OCO / Bracket - A combination of TP + SL that automatically cancels one when the other fills.
Trailing Stop - A stop that follows price movement. Locks in profits as the stock rises.
GTC - Good Till Cancelled. The order stays active until it fills or you cancel it.
R-Multiple - Risk unit. 1R = distance between entry and stop loss. Used to measure reward vs. risk.
Glossary
Plain-English definitions of the trading terms used throughout this app. New to trading? Start here.

Tap a group to expand it. Every term is explained in plain language, with a quick example where it helps.

The fastest path: a Bracket (OCO) order buys a stock and attaches a Take Profit and a Stop Loss for you. If you only learn a few terms, learn those three.
Market order - Buys or sells right now at the best available price. Fast, but no price guarantee.
Limit order - Only fills at the price you set or better. Example: a buy limit at $225 won't fill until the stock reaches $225 or lower.
Stop Market - Becomes a market order once the price hits a trigger you choose. Often used to sell automatically if a stock falls to a set level.
Stop Limit - Like Stop Market, but turns into a limit order at the trigger. More price control, but it may not fill if price moves too fast.
Bracket order - A buy with a Take Profit and Stop Loss attached automatically. In this app it's the "Buy + Auto-Exits (OCO)" option.
OCO (One-Cancels-Other) - Two linked exits where filling one cancels the other. This app builds one OCO bracket for each take-profit level you add.
Definitions here are general education, not financial advice. Practice on a Paper account before risking real money on a Live account.