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Adding Limit Orders

Video Transcript

In this video, we want to demonstrate how to place a Limit Order within Track 'n Trade Stocks.

We can use a Buy Limit Order to either enter the market on a market pullback, or the more common use of a Limit Order, is to take profits when a market hits a specific price level.

Let’s first demonstrate how to take profits using a Sell Limit Order once the market hits a predetermined target price.

In Track ‘n Trade, when placing a limit order, click the BS button in the upper right hand corner, and click and drag ‘n drop the order on the screen at the target price; the place where want to take profits.

You’ll notice that the default settings within Track ‘n Trade are to initially drop a buy stop order when dropping your order above the current market price. To change your order to a Sell Limit Order, simply update the order placement ticket to reflect the changes you wish, and click Place.

Now, let’s demonstrate a buy limit order.

If you want to enter on a pull back in price, you might want to place a buy limit order below the current market price. To do this, drag and drop your order on the screen below the current market price, at the price level you want to enter the market on a pull back.

Again, notice that Track ‘n Trade’s default setting is to drop a sell stop order. To make the change, once again, update the Order Placement ticket to reflect a buy limit order, and click the order placement button.

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