Every trader wants to execute trades better – faster, simpler, smarter. 

Using a trading terminal can accomplish this goal. Instead of accessing a trading account directly through the exchange’s website interface, managing trades through a third-party terminal can be beneficial for many traders. 

In this blog post, some key features of Tealstreet – a leading crypto trading terminal – are highlighted to demonstrate how crypto traders can improve their execution using a terminal. 

What is a Trading Terminal?

In short, a trading terminal is an interface for executing buy and sell orders. Third party terminals allow traders to connect multiple accounts from various exchanges to one trading interface instead of logging into multiple accounts on different browsers or even separate devices.

When a new trader first logs into their exchange account, the experience is often overwhelming. A barrage of buttons, charts, colors, and settings greet (and usually disorient) them. Using a trading terminal for a unified trading experience across multiple exchange accounts can be equally intimidating at first. But commonly, the end result from using a terminal is a simplified execution and management experience for novice and veteran traders alike. 

Terminal Features Overview

Several features of the Tealstreet interface are highlighted in this section as examples of how a trading terminal can improve trading execution compared to trading directly through an exchange website. Not all of these features are available on every other crypto trading terminal. 

Advanced Order Types

Most crypto exchange interfaces offer only a few basic order types. Using a terminal like Tealstreet allows traders to access a variety of more advanced and efficient orders to suit their trading strategies. Beyond market and limit order types, Tealstreet supports limit chaser, price offset, quick orders, and more. 

Terminal Hotkeys

Gamers play with their keyboard as much as their mouse, and traders are no different. Tealstreet supports over a dozen hotkeys and shortcuts for traders to efficiently access features and execute trades. Hotkeys are not always on, however. Traders need to ensure that hotkey settings are turned on. See a list of supported shortcuts and hotkeys here. 

Trading Workspaces

Every trader has a unique color scheme, chart layout, or workspace design that they prefer to operate in when taking and managing trades. The Tealstreet terminal has a workspaces feature that allows traders to save and load a variety of different settings and windows at any point in time. These saved workspaces can include different trading exchanges to view, different trading environments to monitor, or different trading strategies to rotate between. 

Sound Effects

Traders often switch between multiple tabs, windows and devices while monitoring the crypto market. So, visual-only prompts aren’t always effective. Tealstreet offers sound effects for different actions traders take across the main trading window. Usually, sounds are triggered when set orders are open or closed. So, when a trader is in Discord or reading a blog or scrolling Twitter, a sound prompt from the terminal notifies them of an important change to their trading. 

Risk Profile

Risk is the only thing a trader can control when they trade, so monitoring their risk profile is important. The terminal risk profile tool estimates profits, losses, margin and account balances based on existing orders, open positions and current price. Every trading decision involves adding or removing risk, and traders can use the risk profile tool as a “heads up” display for new trade ideas to see what would happen to their account if the price goes up or down. 

What is Tealstreet?

All of the features described in this article (and a lot more…) can be found inside the Tealstreet trading terminal. 

Tealstreet is a proprietary trading terminal for crypto derivatives traders to route orders from the terminal interface through their exchange API to their trading account. Tealstreet software is designed to help crypto traders place orders, manage positions, and optimize their day-to-day trade execution. Also, the terminal is free to use for all traders – no monthly fee is required to trade through Tealstreet. The team makes money through referral agreements with supported exchanges.