How to use Action Buttons

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Video Transcript:

Hello, traders. Welcome to the NinjaTrader tutorial and the third module, SuperDOM Overview. In this lesson, I’m going to teach you about the action buttons that are placed at the bottom of the price ladder, within your DOM. And as usual, we are going to use the crude oil September contracts for this example.

Now, the action buttons that I’m talking about are these five buttons placed at the bottom of your price ladder. Now, this button right here collapses or expands the lower portion of the SuperDOM. Now, this is very important and very helpful when you are not using strategies.

Action Buttons NinjaTrader

Now, I’m going to go ahead and click on the button and close the bottom of the SuperDOM. Now, this is very helpful because what you can do when this is not collapsed, you can right-click on the SuperDOM, go to properties, and if you see right here, you have the number of price rows. You can choose to have more than 30 rows on your SuperDOM and, if you choose to have 40, you can apply it, and now the SuperDOM is larger, and doesn’t have all the ATM strategy at the bottom. Now, I’m going to go back to 30 and I’m going to collapse the bottom of the SuperDOM.

Now, the second button right here reverses your position. Let’s say that we are in a buy position right now. Okay? We just bought three contracts of crude oil, right here at the bottom of this move. Now, if you think that market is not going your way and you need to reverse your trade in order to cut your losses, but also to follow the move to the downside, you click on this button and now you will have a three contract short position which was reversed by this button right here.

Now, of course, if you wish to close your current trade, you would just click on the close button and your position will be closed. Now, you can see that, right now, we are flat, and this is a very important button. It’s actually not a button, but it displays very important information. Let’s go short again here, at market. It shows the number of contracts that you are short at the moment. You can see that your entry price was 50-29, and you are short three contracts. And if you again close your trade, it’s going to show that you are now flat.

And last, but not least, the C button at the left of the action button row will center the market price. Sometimes, price moves so fast that the [inaudible 00:03:53] price moves along with the price ladder and, when you click on it, it will center back so you know where price or the market is trading at the moment. And this is an overview of the action buttons on your SuperDOM.

Adam

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