Submitting Orders using SuperDom

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Video Transcript:

Hello traders and welcome to the NinjaTrader tutorial on the third module, SuperDOM Overview. In this lesson, I’m going to teach you how to submit orders within the DOM and how to use the price ladder to do it. The first thing you need to know or learn about placing orders on the SuperDOM is how to set the orders that you are going to place. The first thing is the order quantity, which is this parameter right here. If you wish to trade one contract, you leave it right here, but if you want to trade more than one contract, you can change it or modify it by going up with the arrow or just highlight and do it with your keyboard.

Order Display on SuperDom

Also, you have to choose the timing force of your order. You can choose end of day orders or good until cancelled. The difference with these two orders is that the day order will cancel itself at the end of the session and the GTC order will be good until you cancel it, which means that if you place a buy order, for example, at 50-37 and price never touches 50-37 and you never get it filled and price continues to go up, the order will be active until you cancel it, even if you happen to see it three or four sessions later.

Now that we have learned how to modify the order quantity and the time in force of our orders, I’m going to show you how to place a limit order within the DOM. And, for this example, I’m going to use a two contract order. To place a buy limit order, you go to the desired price level and you right click on the buy column. You go to the desired price level and you left click on the buy column. This will prompt an order placement confirmation and you click yes. Now, you have placed a two contract buy limit order at 50-41. If you want to place a sell limit order, you go to the sell column and you go to the desired price level and you right click on the mouse at the desired price level. The order placement confirmation will prompt out and you just click okay. Now, you have placed a sell limit order within the DOM. To close these orders, you can do so by clicking on the red cross or just clicking on the close button at the bottom of the ladder.

Now that you have learned how to place limit orders, I’m going to show you how to place stop limit orders, either on the buy side or the sell side of the market. And this is done by clicking on the wheel of your mouse. If you want to place a buy stop limit order, you go to the desired price and you click on the wheel of your mouse. Then, you click the check arrow. You will get the order placement confirmation and your stop limit order, on the buy side, will be active. If you want to place a stop limit order on the sell side, you go to the desired price level and you click on the wheel of your mouse, you click the check, and then the order placement confirmation will prompt out and you click okay. Now, you have both stop limit orders on the sell side and on the buy side. To close those orders, you can click on the close button at the bottom of the ladder.

Now, you will learn how to place stop orders within the SuperDOM on your NinjaTrader. To place a buy stop order, you need to go to the desired price level and remember that if you are placing stop orders on the buy side, you need to go to a level that is higher than the current market price. So, we are going to go to the 50-60 level and to place a stop order, you have to hold onto your control key on your keyboard and press the center wheel on your mouse. This will prompt out the order placement confirmation for two buy stop contracts at the 50-61 level and you click yes.

Placing Orders with SuperDom

Now, we have a buy stop order with two contracts above market. If you want to sell stop, you have to go below market to the desired price level and hold onto your control key and click on the wheel of your mouse to get the order placement confirmation prompted out. Now you know how to place stop orders, both on the buy side of the market and the sell side of the market. To close these orders, just click on the close button below the ladder.

There is another way to place orders or to place market orders within the DOM. Let’s say that you don’t want to wait for the price to reach the 50-46 level, which is the daily low, in this case, and you want to buy right now. You go to your price ladder and you have a market button right here, on the buy side. You also have a market button on the sell side. If you click the market button, the order placement confirmation will prompt out and you will buy two contracts at market. To close this trade, you click on the close button at the bottom of the ladder. The same goes for the sell side. If you wish to sell two contracts at the current market price, you click on the market button and now you have sold two contracts at the current market price.

Adam

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