Nadex 2017 - How To Place Orders/ Exit Trades Early

Hey guys, welcome back to the channel. And today we're gonna get into how to place orders on the Nadex as well as how to exit trading early. And this will be a follow-up of the last video I did on the Nadex system, the review. This, as you can see, this is the desktop version. In the other video I did, we had a— I was doing the mobile app while on the go, but this is actually what your desktop will look like when you trade on the Nadex. So we're gonna go ahead and jump right into it. What you want to do first is navigate to the left of your screen here. And, uh, you want to select what you're going to be trading. So for me, I find the easiest way to do this, you know, as I said in my review of Nadex, that I didn't find, I didn't find this system to be very user-friendly. I think it could have been a little bit more cleaner and easier to navigate. But what I found is probably the easiest way you want to do this is go to market filter over here on your left-hand side. Let me click on that. And then you want to go to, you know, basically place in whatever you're going to be trading. In this example, I'm going to be— I already got it here, but I'm just going to go over to go back over it to show you guys how to do it. I'm going to be trading the Aussie dollar and Japanese yen. So let me put that in there. Okay, and then I'm gonna select for type down here, if you can see that. I'm gonna select binaries, and then I'm gonna go down here and I'm gonna select over a period of 1 week. And then I'm gonna go down here and I'm going to select show results. Okay, so that's the easiest way I find to go ahead and get to the contracts that which you wish to trade, you know. And as I had said earlier in the review, you know, these are contracts, they're different from dealing with binary option brokers. This is an exchange, you know, which means there is no third party other than just their ability to facilitate trades between people like you and myself. So we're the ones who are creating these buy and sell contracts. So for what I'm going to be doing is I'm going to be selecting, um, uh, contracts that trade over a period of a week because, um, That's how I like to trade on the Nadex, uh, trading over a week because that, that gives my research time to pan out. And we will do a video after this on how to do research and how to select what you're going to trade. But for this example, I'm going to be trading again, uh, the Australian dollar, Japanese yen. So as I, uh, move down here and you kind of just see the bid and offer prices, you know, the bid being of course what the buyer wants to, uh is willing to pay, and the offer being what the seller is willing to sell at. And so we need to go on down here because we're trying to get, uh, contracts that go out for a long period of time here. So down here to 4 days, that looks good. And what we're trying to look for here is, uh, I'm not going to get into the research part so much right now. We're just focused on doing the orders. I'll, I'll cover that in another video, but Right now we're just looking to select something to buy. So, okay, I'm going to select the right here, the strike at 86.25. Let's see, it has an offer of $45.50 and they want a sale or an offer at, I'm sorry, a bid at 45.50 and now an offer at 49.50. 50. So I want to do that. So I'm going to just hit that, just click on that, and you see my order ticket comes up here. All right. And, uh, okay, so I want to buy this contract. Okay, so we, we still get— can get in at that price. But now I could do a market order, right? Okay, so all I gotta do to do a market order is select, and again, market order just means you wanna buy, you wanna buy at the market price, right? That's that 48.75. So I'm just gonna show you, I'm hitting market order here. I'm just gonna show you how you do that. Then you select buy for order type, there's market order. I'm just gonna select one contract. And, uh, you know, as we covered in the other video, one contract is, um, gonna pay out $100. And if you look down here at this ticket, it's saying the maximum I could lose is $56.25, but my maximum profit would be, uh, $54. Or, you know, it's ever-changing. But that is because whatever price you're buying at, the contract's always going to pay out $100, you know. So if you bought at $40, you'd have a profit of $60. You bought at $50, you have a profit of $50. But at the same token, you can lose, you know, uh, entirely on what you, you know, what you pay for to pay for the contract. So, you know, because you're going on that $100 ceiling Right, so let's say, uh, so that's how you do a market order. Market orders are very simple. You just buy and select market order. But let's say we don't want to do a market order. Let's say we don't want to pay the $46.50, and we don't— or we don't want to pay the $45.50, right? Uh, we want to pay somewhere in the center. Now we can select any price we wish, but, uh, you know, it's, it's more, more than likely the seller of the contract is going to accept the offer if you, uh, you know, if it's somewhere close to, you know, the number that they're trying to meet. And again, we'll get into a little bit how to do the research and what prices we should be buying at on another video. But again, this is just how to put the different various orders in. So see here where it says order type, we just learned how to do a market order. I'm gonna select limit order now, right? And the limit order is what's gonna allow us to put, place in what we want to pay. Okay, so that's the only difference between your market order and your limit order. So let me get limit order. And, uh, for contracts, again, each— you can buy as many contracts as you want, but each contract is, um gonna run you about $100. So, uh, I'm just gonna select one. And, uh, for the price— now this is important here— for the price here, um, I'm going to select— let's see here, let's clear that. We're, uh, I'm going to select about $45. Okay, uh, let me put in $45. All right, and then I'm going to put in place order. Now the maximum profit— the most I could lose on this contract at this point is $45, what I'm paying for. But as you can see, the most I can make on it is $55. I can have a profit of $55 $86 if I went on this trade, which means the strike I'm buying at, it has to be above the $86.25. So I'm going to go ahead and place this order. And there's my confirmation of orders being processed. Now, what we have to understand is just because I entered that trade in doesn't necessarily mean it's going to be accepted. Only, only time it's going to be accepted is when we buy at market order. So as I go down here, it says working orders. That means they're trying to, uh, they're trying to, uh, fill that order right now. And as you can see right here, if you look down here at market, um, at the bottom of the screen, look down here at my working orders, there's my contract. Price of $45 is what I bought at. The current market price is at $47. So we're hoping that contract will get filled. But as we look up here to where it says open positions, uh, right above that box, right, right above there is, uh, I just highlighted it there. Let me close that off because I've opened up a ticket. As you can see right here, I bought the euro at $61.25 earlier today. Let me close out of that. Okay, I bought it at $61.25 And it's now— its market price is now $76 or $77. And so I'm up in profits $15.75 already, and I just bought that contract. Now, if I wish, I could, I could sell out of that contract right now and for profits. Although I got 12 hours and 42 minutes left on the contract, I could sell out now for profits. That's what I mean by early, getting out of the contracts early. And that's what's so great about the Nadex system. And so, um, as this order down here is trying to get filled, that's what's gonna happen sometimes. Again, when you do the limit orders, like I said, if you did the market order, it would have taken the contract, and it looks like we would have been in profits already too, because I believe that contract was around $45, $46 or something like that, maybe $47 and slightly above that. But anyway, uh, I'm gonna— what I'm gonna do up here where I bought this euro, I'm up $15.75. I'm gonna go ahead and sell out of that and just show you guys how to exit a contract early. So let's just say, uh, I'm up $15.75, but I feel like the contract's not gonna go any higher, and I said let me just take my profits, let me cut and run. And you can do this in any situation. You can do this if you're losing and you don't want to lose anymore, if you're winning and you just want to You don't want to wait the entire timeframe for the contract to expire because the contract, it could turn around on you. As you can see, I'm losing money. I was up $17 and something, now I'm $15.75. So if I want to go ahead and take that profit, I'm going to select euro here. You see my order ticket comes up. Oh, open up to— oh, let me try that again. Okay, I'm back up to $16.75. Maybe that's good. I, uh, it didn't open up quick enough for me. All right, and you can see it changing up $17 now. All right, so let me go ahead, let me try to sell out of here. Uh, let's see, where are we at here? Uh, I don't know why all these tickets keep popping up. Okay, that looks like it right there. Okay, so I'm gonna sell at market. Let me do that. That's what you— and that's what you want when you get out early. You're always going to be getting out early as a market order. All right, all right, get me out of here, guys. Ah, it doesn't want to let me out, does it? Okay, all right, so, uh, bad. Now that's not it. And like I said, it can get a little bit, uh, hectic here. Okay, here's my contract here. Yeah, it's going up and up and up, guys. So now I'm up $20-something. So I guess it's kind of good I, I haven't been able to get my fingers on the, uh on this market order button. Okay, there it is. So I'm gonna go ahead and sell now, and I'm gonna hit place order, and it's in progress. One contract sold. I'm gonna close out, and I was able to sell at about a $20 profit, guys. Uh, that easy. Uh, and I'm looking down here now. My order still wasn't filled yet for the, uh, Australian Japanese dollar. And it happens like that sometimes, guys, because the current market is at $48. And that's how come when you do limit orders, you want to try to place them in, um, you know, close to the proximity of what the market is, because it may not get filled, right? But now if you do see a good price, you can go ahead and buy at market order. You don't always have to use your limit orders, but sometimes you want to use your limit orders because, um, you know, the price is not going to allow you to get in profits like you want. It's probably overpriced, you know, in a situation like that, and you're not going to meet your strike price. So, uh, guys, that's how you do it. That's how you do your orders. It's as simple as that. If you have any questions, um, you know, or concerns, if something was confusing about it, be sure to to leave it in the comment section, and I'll be sure to answer your questions and try to maybe do a follow-up video and address that issue if that's necessary. But that's all it is to it, guys. And in the next video I'm gonna get ready and do and put out, we will address how to pick the orders, you know, how to enter the orders. How to place the orders. Um, I'm sorry, not how to place the orders, but, um, how to pick the orders, how we know what to trade and when to trade it. So we're going to cover that a bit in the next video. I hope this has been helpful. Uh, don't forget to like and subscribe and share the video if you have friends trying to learn how to do binary options and they just don't know how to do it. All right guys, take care.