Stream Deck Review 2024

The Elgato Stream Deck is a popular tool among gamers and streamers, but did you know it’s also an excellent device for day traders? Hence our Stream Deck review.

The Stream Deck lets traders speed up their trading, manage multiple commands, and make quick decisions in the fast-paced stock market. In this review, we’ll look at how the Stream Deck works for day trading, the pros and cons, and what you can expect if you add this tool to your trading setup. Read on to learn more.

Elgato Stream Deck Review of the Platform

The Elgato Stream Deck is a customizable control pad with buttons that can be programmed to perform various tasks. Although initially aimed at gamers and other content creators wanting an easier workflow, it has also spread to the day trading arena.

Using the Stream Deck for trading allows you to create custom keys or hotkeys for speedy order execution, rapid position closure or opening, and the simultaneous handling of many trade orders.

Each button can have a specific function, like putting forth a buy position or selling a specific amount of shares.

A Stream Deck review finds this also helps reduce trading time as every second counts in a trade to help increase speed when making decisions, especially for day traders.

Stream Deck Review 2024

How Does the Stream Deck Help Day Traders?

When it comes to day trading, speed is everything. It would help if you acted quickly when the market moves. TA Stream Deck review finds that it makes this easier by allowing you to set up macros and hotkeys for various tasks.

For example:

  • You can set a button to buy 100 shares of stock instantly.

  • Another button might be programmed to sell all your open positions.

  • You could even set up a button to cancel open orders with a single click.

This is especially useful when using platforms like TradeStation or ThinkorSwim, which allow traders to assign hotkeys to their trading actions. Once your macros and hotkeys are set up, you can assign them to the Stream Deck’s buttons for quick execution.

5-Second Takeaway

  • The Stream Deck allows traders to set up customizable hotkeys for faster trading decisions.

  • It’s great for day trading, helping with quick buy/sell orders, trade exits, and managing open orders.

  • The device is simple to set up and has software for easy customization.

  • While initially designed for streamers, the Stream Deck’s hotkey features are a huge asset for traders.

  • Some traders find the price a bit high, but many agree it’s worth the investment for its functionality.

Stream Deck Review of Software

A Stream Deck review finds its strongest point is its application software. For instance, Elgato has provided an active interface that enables easy customization of every button on the deck.

Whether day traders set the engine, manage the platform’s stock market activities, launch websites, or start programs, it is quite an ingenious design.

Every button on the Stream Deck can be programmed, and you can go as far as creating your icons. Although some traders will go to Elgato’s website to get an icon creator, other traders enjoy creating their action icons.

Setting up Hotkeys for Day Trading

To make the most of the Stream Deck for day trading, you’ll first need to set up hotkeys on your trading platform. Here’s a quick Stream Deck review breakdown of the process:

  • Assign macros to specific trading actions, such as buying or selling shares.

  • Assign hotkeys to these macros (e.g., SHIFT+1 for buying 100 shares).

  • Program these hotkeys into your Stream Deck’s buttons, making it easy to execute trades with just a tap.

It’s a good idea for beginners to practice using the Stream Deck with a simulator before going live. This ensures you’re comfortable with your setup and won’t make costly mistakes while trading real money.

Stream Deck Review

Stream Deck Pros For Day Trading

The Stream Deck has become very popular among traders who practice day trading for several reasons, including:

  • Speed: When you wish to finish a trade within a day, you would appreciate hours of work done within seconds. That’s exactly why the Stream Deck is such a game-changer.

  • Customizability: Each button on the Stream Deck is designed with user-friendliness in mind. Whether you enjoy orders, exits, or platform open operations, your deck can be set for absolute comfort.

  • Ease of Use: Once you’ve set up the Stream Deck, it is effortless. It’s like getting the cold control panel without fear of choking amongst stacks of buttons.

  • Efficiency: Everything is planned and prepared for you at the touch of a button, so attention can be directed towards the trading strategy rather than being uneconomically divided.

Stream Deck Cons For Day Trading

While the Stream Deck is a powerful tool, it has drawbacks. Here is a Stream Deck review of the cons:

  • Price: Some traders might find the cost ($130–$200) steep, especially starting. However, many users feel the investment is worth it for the added speed and convenience.

  • Learning Curve: If you’re unfamiliar with setting up macros and hotkeys, there’s a bit of a learning curve. However, with practice, it becomes second nature.

  • Accidental Triggering: Be careful—pressing the wrong button can accidentally trigger a trade. Placing less-used commands on buttons that are out of reach is a good idea to avoid blowing up your account.

Who Are the Competitors of the Stream Deck?

Other worthy competitors to the Elgato Stream Deck include the Loupedeck Live and X-Keys Keypad. The Loupedeck Live primarily targets creative users, but traders can also use any such product. It allows the setting up of buy/sell orders and quick commands.

Of all its attributes, the most outstanding is the rotary dials, which traders can use to increase the zoom on a chart or change time frames in a chart. It is a bit more expensive, but you get a better feeling of control than Stream Deck.

The X-Keys Keypad is less expensive and less complex than the rest since it specializes mostly in hotkeys without the sleek design or LCD buttons like the Stream Deck. This does the job straightforwardly for traders in such a way that they need very elementary.

What Will You Get When You Buy a Stream Deck?

When you purchase an Elgato Stream Deck, you’ll get:

  • Depending on your chosen model, a fully customizable control pad with 6, 15, or 32 buttons.

  • Access the Elgato Stream Deck software to customize buttons and set up hotkeys.

  • Pre-designed icons or the ability to create your own.

  • Plug-ins for other applications, including trading platforms, streaming services, and more.

Final Thoughts: Stream Deck Review

We hope you enjoyed our Stream Deck review. The Elgato Stream Deck is a device that is already gaining appreciation in the trading field. Whether one is a consistent day trader or has just begun practicing. Being able to configure keyboard hotkeys allows for quick trade execution.

Considering its constructive software, adjustable keys, and real application in day trading, the Stream Deck will allow you to exceed the curve and enhance your application. However, getting used to it might take some time, and the cost might seem high for beginners.

Practice with a simulator before going live to avoid costly mistakes and invest in a high-quality education provider like Bullish Bears.

Frequently Asked Questions


 Yes, the Elgato Stream Deck is ideal for day trading. Traders can set up hotkeys for quick actions like buying, selling, and exiting positions. It allows for faster and more efficient trading decisions, especially in fast-moving markets.


The main benefit is speed. The Stream Deck allows traders to execute trades with a single button, saving time during fast market movements. It also helps organize your workflow, making trading more efficient.


For many traders, the Stream Deck is worth the investment. Its ability to speed up trading actions and its customizability makes it a valuable tool. However, if you’re starting, you might want to evaluate if the cost fits your budget.


The Stream Deck stands out for its ease of use and visual customization. Unlike some trading tools that require complex setups, it allows for easy drag-and-drop customization of buttons and icons.


Yes, there are cheaper alternatives, like using regular hotkeys on your keyboard or other devices like the Loupedeck Live. However, the Stream Deck is designed to be more user-friendly and visually intuitive.

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