Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Different type of orders/order entries and platforms
PLEASE HELP!
I’m an absolutely beginner in futures/commodities tradings and could be asking stupid questions here . I’m currently using Thinkorswim platform to do paper trading and don’t find it very friendly to use. My questions are as followed:
1. I have a hard time understand the type of orders to use even tho the platform does provide some simple explanations/videos/tutorials but not very in depth. I kinda understand the simple ones such as market/ limit/stop/stop limit BUT NOT on the trailstop/trailstoplimit/std/ask/mark orders and how to enter the order.
2. How are the orders supposedly used to strategize the trades? I assume it’s for that purpose?
3. Does each broker’s platform have similar order types or vary greatly? I find it difficult to use ToS and been thinking to try Tradestation or Ninja Trader 8. Any suggestions? Thoughts?
Thanks so much in advance.
Sincerely,
Ted
Can you help answer these questions from other members on NexusFi?
Ted -- as you are a beginner, I suggest you not even worry about the other order types.
Stick with limits and stops for now. Understand the purpose of these, and how to comfortably enter and cancel orders. Be able to do this in your sleep, on a paper account, before you ever enter a live trade.
