In this video, Ross from Warrior Trading explains how he uses the open and active orders window on the Lightspeed Trader platform. He walks through how he positions, views, and customizes these windows on the platform for his active trading.
Hey everyone. Ross here from Warrior Trading. In this video, I'm going to talk about how I use my open and active orders window because I think the way I use it is a little different from how a lot of people use it.
Now, what I like to do is I like to have two order windows side by side. Actually, one on top of the other one. The first one on top is all of my active and open orders. Those are orders that are alive at the market right now that I'm waiting, hopefully, to get filled on the trade. Then just below that, I have all of my executed and canceled orders so I can go back and look at all the orders and trades that I took during the day. The reason I separate them is because I would not want to accidentally close my trading platform at like 11:30 or lunchtime, and then come back in the morning the next day and find that suddenly I've got a position I don't remember taking, because I forgot to cancel an open order.
Let's jump into the Lightspeed platform and let me show you what this looks like. You can see here I've got my active orders, and then my canceled and executed orders. I have one active order right now on ZVZZT, which is a Nasdaq test stock. I would not close this platform here because I know I still have an open order. However, the way I think most traders use this window is they create an open orders window, and it's going to show all active and executed and canceled orders, all in one screen. The problem is, what if you accidentally scroll up just a smidge and then you say, "Okay, I'm done for the day. I'm going to close my computer down." And you don't realize you still have a live order right here to buy $30,000 worth of stock on the open market? You come back in the morning, you've got a 3,000-share position, and this thing is down 60, 70 cents, maybe a dollar. You're down 3000 bucks.
That's a surprise you do not want to have happen, so what I do is I create two order windows. I go to new, and then I go to orders. On the first one I put on top, I go into the settings and I display only the active orders. I leave the colors the same, but you're welcome to use different colors if you think it would help you see what you need to look at. All right, so I've got my open orders there, and then right here I create a second window. I go into the settings and I display only the executed and canceled orders. Boom. Just like that, I will never close my platform while still having an open order, because it would be impossible for me to walk away without seeing and checking this first. All right? I hope that's helped you understand how I use my open, execute and cancel the order windows. And as usual, if you have any questions, don't hesitate to reach out.
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