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Day Trading Order Types Tutorial Video

Do you know the differences among the various order types commonly used in day trading? Do you know when it’s better to use a stop limit order as compared to a market order? Don’t worry – many traders don’t know the differences. Good news – we have a video for you that explains all of the common order types and when to use them. You may find that MIT orders, for example, reduce risk based on your style of trading.

Depending on your trading platform, most if not all of these order types should be available. Choose what works best whether buying or selling. If you’re one of those traders who are content just placing plain old market orders, you can definitely learn a few tricks from this video.

We place orders using the NinjaTrader SuperDOM. You could use ChartTrader, but our opinion is that it limits features. The SuperDOM represents a number of prices. The current price appears in yellow. You’ll see the buyers and sellers for each price providing your data feed provides something called Level 2 market data. The market should seek a balance among buyers and sellers.

Sometimes, you’ll want to enter a trade (aka place an order) a certain price “or better.” The “or better” means a more favorable price. If your selling the market, or “going short,” your trading indicator or strategy may advise getting into a position when price reaches a specific value. Using the right order type along with an ATM Strategy is a great way to make trading happen seamlessly. In case you don’t know, an ATM Strategy is simply a preconfigured stop loss and profit target. Yes, more stuff can be configured, but we generally create a few of these to switch between in the heat of the moment (when a signal has just fired off the Atlas Line, Trade Scalper, etc.).

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NinjaTrader 8 Tutorial Videos

Part 1 – How to Download NinjaTrader 8

Part 2 – How To Connect to a NinjaTrader 8 Data Feed

Part 3 – How to Open a Chart in NinjaTrader 8

Part 4 – How to Add Indicators to a Chart in NinjaTrader 8

Part 5 – How to Install Indicators Into Ninjatrader 8

Part 6 – How to Save Indicator Settings (Presets)

Part 7 – How to License Indicators in NinjaTrader 8

Part 8 – How to Remove an Indicator in NinjaTrader 8

Part 9 – How to Use a SuperDOM in NinjaTrader 8

Part 10 – How to Roll Over Futures Contracts in NinjaTrader 8

Part 11 – How to Use NinjaTrader 8’s Market Replay

Part 12 – How to Fix Data Problems in NinjaTrader 8

Part 13 – How to Back up Your NinjaTrader 8 Settings

Part 14 – How to Track Trading Performance in NinjaTrader 8

Part 15 – How to Use Chart Tabs in NinjaTrader 8

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The content at this site was created by DayTradeToWin or its affiliates. The author(s) may have been directly or indirectly compensated for the content. All content should be should be treated as an advertisement. Trading is inherently risky and substantial financial loss can occur. Hypothetical performance is not indicative of future results. Results may vary due to the unpredictable nature of the markets, slippage, user behavior, geographical distance to data centers, and other factors.

CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

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