So you’re now using NinjaTrader and you’re struggling with the concepts of placing trades? Look no further! Watch the video and in 15 minutes, you’ll have a good understanding of different order types, ATM Strategies, and execution.
One of the most important-to-know yet misunderstood aspects of day trading is order placement. The NinjaTrader platform, which we are big advocates of, allows you to place orders using two features. The first of which is Chart Trader, which is quite basic. It lets you trade from the chart itself. The more powerful way to place orders is using NinjaTrader’s SuperDOM. There are two flavors of the SuperDOM: Dynamic and Static. They are very similar as discussed here. Market orders are the most simple of all orders. They tell NinjaTrader to get you in the market at the current price (or as close to it as possible). Limit orders and stop orders are discussed in the video as well as the importance of being in the front of the line. The ATM Strategy information is handy too, because you’ll automatically have a profit target and stop loss defined after your original order gets filled.