Track 'n Trade LIVE Futures

How to Add and Edit the "Quick" Q-OCO Order Buttons

Video Transcript

In this video, we're going to go through and program some of these QO buttons. This is a bit of an advanced strategy, but it's one of the greatest features in Track and Trade. This is one of the reasons why our software is so popular. These features right here give us the ability to quickly, efficiently, and effectively enter orders, especially if you're day trading on a small time frame like the 1-minute time frame, which is what we're looking at here.

So, what we want to do is come down and program a couple of these buttons to give us different trading strategies. Now, they are set up right now, as you can see, with a drop-down menu, and I've got a number of different strategies in here already pre-built. I have a whole bunch of strategies that I have in here, and you can see that I can just pick whichever one I want, and that will be the one assigned to that button.

For example, this one I have labeled "Number Two," and it's a "Buy Market" with a 50-stop and a 50-limit, 1.1 price bars back to break even. Now, that's just a label that I put on it so that when I read it, I know what it means—I understand the shorthand since I'm the one who wrote it. It's customizable, so you can write yours however you like.

For the second one, if we come in here and do the same thing, you'll notice that I have a bunch more. So, I can pick that one, and you'll notice that I have them labeled with numbers: 1, 2, 3, 4, 5. The reason I do that is because I have a strategy where, if the market is going to go long, I want to have the same strategy for long positions as I have for short positions. So, all of my "Number Two" strategies are the same strategy, just set up on different buttons with different settings.

For example, I have my "Buy Market" on the first button, my "Sell Market" on the second button, my "Stop Order" on the third button, and then down here on the fourth button, I have my "Limit Order." You can see that I have them all labeled "Number Twos," and so this is all basically the same strategy for me, with different methods of trading the same strategy for each button.

Now, all four buttons are programmed to run my "Number Two" strategy. I have "Buy Market," "Sell Market," "Stop," and "Limit." So now, if I want to place an order, all I have to do is very simply come in and hit the "Buy Market" or "Sell Market," and it's going to execute that position for me.

In this case, you can see that we're taking a short position. The market's automatically moved itself to one price bar back, and then we're anticipating a fall in price to my limit order, which will automatically cancel both orders. That's kind of one strategy, and you can do this however you want. Again, if you look through mine, you can see that I have a number of different strategies.

Now that we've got the concept down, let's go ahead and exit out of this position. Okay, and in the next video, we're going to go through and program some of these buttons and show you how that's done.