Order Types Explained

Before we continue...👀

💰Remember, day trading is risky and most traders lose money. You should never trade with money you can’t afford to lose. Prove profitability in a simulator before trading with real money. 

❗❗My results are not typical. We do not track the typical results of past or current customers. As a provider of trading tools and educational courses, we do not have access to the personal trading accounts or brokerage statements of our customers. As a result, we have no reason to believe our customers perform better or worse than traders as a whole.

🍏 All of the content on our channel is for educational purposes only. No data, content, or information provided by Warrior Trading, the Site, or the other products and services of Warrior Trading, is intended, and shall not constitute or be construed as, advice or any recommendation to buy, sell or hold a particular security or pursue any particular investment strategy.

Still with me? 

Now let’s dig into some helpful information …

#daytrading #warriortrading #rosscameron #stocks #learntotrade
Warrior Trading // Ross Cameron // Day Trade Warrior

[Fm-hokc]

Thanks Ross! 03:00 that was the exact mistake I made first time with my limit order

[danialdunson]

I bought the class but you are doing a great service by educating the people! Let's go momentum!

[willperez]

Hey Ross. Just starting to get into day trading more seriously. You have helped me tremendously. Do you ever use a trailing stop order or just stop orders? Also, When you are trading pre market, do you still use the limit orders or do you use market orders pre market ?

[tnttrading]

At 6:26 you say if it drops to 9, 80 or 9, 70 you will still hold shares? Why? Could someone please explain me?

[sherifyousry]

Thanks Man ! finally someone explains it well !!

[stevenpezzella]

Also, Ross I love your channel. I'm brand new to day trading, trying to be very disciplined and practical with my approach and expectations. I am trying to learn as much as possible, I was wondering if there were any reasonably priced books that you have read that you have found to be especially helpful? I am so new that even trying to get a grip on the basics seems overwhelming at times. I am certainly capable of learning material, and I know that there or no shortcuts, but I am trying to find the most methodical and didactic way to approach this. Any feed back would be greatly appreciated, thanks!

[J_Cro]

Hi Ross, I am very grateful for your education in "layman's terms. I have wanted to ask you about the " 1st candle to make a new high."
Is that in relation to the previous candle or the actual high of the term/day?
It sounds straight forward but when I view reference chart, I am not certain to what it relates to. Sorry about the length- I hope this helps a few others as well...thank you for your time!

[meo]

Thanks Ross! As a Warrior Pro member for 5 weeks, I needed that.

[jamesdriscoll]

i wonder if you can set a stop limit and the .05 under you can set an order the sells the rest at market. like one trigers all or something. exp sell 2200 of you 3000 but that leaves you at 800 you can sell at .05 at market

[olu]

Say current ask is 100 at 5.00, then 100 at 5.01, then 100 at 5.02 and I enter a buy limit order for 300 shares at 5.05, do brokers typically charge that as 3 orders or it still remains 1 order even though there may be 3 executions

[MK-University]

Most traders will use a limit order rather than a market order. It’s best to have a planned entry of say “$3.05” if the stock is say breaking past $3 very quickly so you don’t miss the entry point. If you just do a market order you may miss in this ex $3 and $3.05 and get a market order of $3.15 if not even worse depending on the movement of the stock.

It can be okay to use a market order if you want to quickly get out of a stock ASAP. So if you didn’t set a stop loss then if a stock was shooting down quickly you could sell it at market value. But again it’s usually best if you go in with a plan. Planned entry, planned exit, planned stop loss, and a overall strategy / why.

[jeffpappas]

Thanks Ross. I bought a stock and gave it a .76 Stop loss. This morning I noticed that my stop loss was triggered and sold at .784 and the day's low price was at .78. Since the price got nowhere near my .76 stop loss level, I called my broker to ask why I got stopped out and he said that I got stopped out because the BID price hit .76. I'm fairly new to trading. Is this how it works; do I need to adjust my sell stop orders to compensate for the spread?

[jackdelgado]

So what would be more beneficial for Day trading ?? Would it be limit order because every cent counts and avoid the risk of getting an order placed much higher than expected ?

[tedlakebede]

Hi Ross, can you please explain the difference between buying the ask vs. buying the market (i.e a buy limit order on the ask vs buy market order). Thank you.

[Brad]

Hi. Do you use a mental stop loss during premarket, or a stop limit order? If I understand correctly, a regular stop loss order won't execute during premarket since it is a market order when triggered.

[jimr.]

I am still confused at the difference between a limit order and a stop order. If I have a stock at $100 and I want to sell it when it gets to $120, would I use a:
A) Sell/Limit order/activation price = $120
B) Sell/Stop Market order/activation price = $120
Wouldn't they both accomplish this? If not, why?

[youthised]

Thanks! No "market orders". That eliminates mistakes. Thanks again.

[granitebuilt]

If a stock was trending up and I set a stop limit price sell to maximize profit but it never quite reached that price and instead whipped downwards, would I need a second type of order in to minimize losses and not go too low before selling?

[PanicAttackRecovery]

Good explanation of limit vs. market order

[vegitoblue]

LightSpeed couldn't sell while I had a limit buy, Cross-Orders 😕 never experienced that with TD, why is that and what is that, a way around it?