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How to Place Market Orders
Video Transcript
In this video I want to talk about different types of orders. The first one I want to talk about is the Market Order, of course, a Market Order is just jumping into the market, immediately, at the best price available. If we think this market is going to continue to rally in this price and continue in a Bullish trend, we might just want to come in and hit Buy Market. You'll notice that we receive an Order Confirmation, once we click the Buy Market button that we can confirm this order with, we go ahead and hit Okay! That puts us into the market at the best price available.
To exit the position, we can exit the position in a number of different ways. We can either right click on the triangle itself, and say, Close Position. We can also click the X button here on the side of the line, or we can come down here and we can hit Exit Chart. If we hit Exit Chart it will remove all the orders, including this one and any other orders that we might have on this particular chart. If we hit Exit All it will go through and remove all the orders in the entire book on all charts that we have available to us. So in this case, let's just go ahead and remove the one position that we have on. We're going to right click here and say Close Position. It says will close the position in the market, we have our confirmation box, we hit Okay, and now we're out of the market.
Now a sale position sell market will be the exactly the same thing we'll come in here and say select Sell Market. This time we no longer want the order confirmation box to appear we can simply say Don't Show This Again. When we click this box, we receive a disclaimer that says it's a standard disclaimer that says we're doing a one click mode, indicating that you realize that when you click the button you're going to immediately get into the market. You say I accept the Terms of this Agreement, we hit Okay. Now when we hit Okay we're going to confirm that one, and then the next time we get into the market, we'll no longer have to see the box for a confirmation of getting into the market on a market order.
Now to liquidate this position we're going to come in here and we can hit Exit Chart or Exit All. But you'll notice that before we exit this position, that we have the order is appearing down here in the orders, open orders position, in your accounting window. You'll see your open orders position down here. Let's go ahead and exit the chart, this is another way of exiting out of this position, hit okay. If we no longer want to have when we exit the chart to have the order dialogue box pop-ups here, we can also say Don't Ask Me This Again, say Yes, and now next time we exit the position with the exit chart button, we will no longer receive that dialogue box.