Track 'n Trade LIVE Futures

How to Place Market Orders

Video Transcript

In this video I want to take you through and show you how to use different types of orders within Track 'n Trade. The first thing we want to do is we want to come in the Trades tab and the first order style that I want to show you is the Market Order. Market orders very simply mean that if we want to just get into the market at the current market price, we can very simply just click this button right here. So, if we think the market is going to rise in price, we just click Buy Market. It's going to pull up our Order Confirmation box, and we can go ahead and hit OK. If we don't want it to show is these Order Confirmation boxes we can go into what we call "One Click Mode" we can click the "Don't Show Again" button. Accept the standard disclaimer. Say OK. Now the next time we place an order we won't get that Confirmation Box. We'll be in what we call the "One Click Mode". But for now this is how we get into the market. We just go in with a simple Market order, we're in the market with a simple market price.

There are several ways of liquidating this position. You can either right click on the triangle itself and say Close Position. You can come over here and you can click on the little "x", which will close your position. You can right click on the little handle, which will close your position. Or you can hit Exit CHART, which will close your position on this particular chart. We also have Exit ALL. If you click Exit ALL, you may have orders on others charts, other markets that you may have. If you hit Exit ALL, that's going to take you out of every order in the entire book. So, let's go ahead and say Exit CHART. It's going to say "This will close all futures orders in the chart" We can also say. Don't ask me again, and it would confirm that. But I'm going to leave that one unchecked for now. Say yes, it's going to take us out of the chart.

Let's say we want to sell the market. Very simply, we just go ahead and hit Sell Market, and you'll notice this time- it did not pop up that confirmation box because we told it we wanted it to be One-Click Entry orders. So, we're now short the markets. In this case, of course, if the market goes down, we'll be making money.

Another way of liquidating your position is to place the opposing order. Since we sold first, we need to buy it back to get out of the market. We could just simply say Buy Market, and it's going to get us out of the current position.