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Warrior Trading Blog

Open Cancelled Windows | Expedited Summary

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.

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 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 my 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 3,000 bucks. That’s a surprise you do not want to have happen.

What I do is I create two order windows. I go to new and then I go to orders, and 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. Alright, I’ve got my open orders there and then right here I create a second window and I go into the settings and I display only the executed and canceled orders. Boom. And 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.

Alright, I hope that’s helped you understand how I use my open and executed and canceled order windows. As usual, if you have any questions, don’t hesitate to reach out.

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