 What's up, everyone? My name is Alex. I'm one of the co-founders of MyInvestingClub.com and I want to let you guys know about something special we're doing for our viewers on YouTube. So the most common question we get asked is, you know, how do I start day trading? So what me and my mentor about it is we create a free two-hour mentorship course for the brand new trader. It's going to be available at MyInvestingClub.co. The link is going to be right here. This is a free webinar that reveals our 12 secrets that every single brand new day trader should know before they start. I also want to let you guys know about something that's very unique to MIC. So if you have any questions about trading or you're curious about trading or you don't know if MIC is the right fit for you, now you can text our head mentor, Tosh, whose number is going to be right here and he'll answer all the questions that you have in less than 24 hours. Thank you and enjoy the video. What's up, guys? It's Tom Diesel here. I hope you guys had a great week. It's pretty stressful for me right now given the current situations in my country. You know, with the coronavirus stuff. But as I promised this video to several members about range order and how to set them up. And so I intend to keep my promise. So even in this hard time, I still want to help members anyway because I think you guys are depending on this on Monday to trade. So Joe has a video on OCO orders for the Dash platform and different brokers. But I'm using trade zero. So that's what I'm going to do today to give you guys, you know, basically a guy how to use the range order. That's all. But again, I'm not licensed or registered and I'm not working for trade zero. So any of the material that I'm using today, it's, you know, for educational purpose, you know, only do it at your own risk and I don't affiliate or like work with them. So if you still have any questions, you know, contact them directly, but not to me. All right. So now comes the most important questions or the topic that how to set them up. Right. You want to short, what is that moving on Friday? OPK, that's the ticker name, right? And let's say the line was, I don't know, you want to put fantasy out at three bucks, right? So that's how you put fantasy order out like quantity you want to show 200 shares, type is limit and your route is smart. That's the only thing I have here, you know, day, time for a day and price at three, you hit short, right? The order should show up on your portfolio window like this one. It should be in here, like, you know, OPK, short, margin, limit price, you know, whatever the shares you use, the limit price you choose, and it says here status new, right? And when it hits, it should be under here under your like open position. You should see here, OPK 200, you know, margin, short, and whatever the price that you put in, let's say I put in three. So your entry price here will be three as well, because you put a limit, right? And that's how you put fantasy order out. And one, it's filled, it should show in here. And that's what I did is right after it fills, I put out right away the range order. So let's say you have 200 shares, you want to use that 200 shares, and you choose the range order right here, you know, everything stays the same, right? High price, now it's your stop. So your stop would be 3.2. And the low price should be your target, right, 2.8, for example. And once you, you see it in here on your portfolio window, once it's in open position right now, right? So right now you currently have open positions of 200 shares, you want to put, you know, basically your stop and cover target. So that order should be up right here. And you choose 200 share range, you know, high price, that's your stop price, low price, your target, and you hit cover, right? And it should show in your portfolio, it should show right up here. There should be a two lines like buy and stop MKT, like a stop market order, 3.2 and 2.8. And here is your open positions, right? But you can also do like, you can divide that, you have 200 shares, you can use the first range order for 200 shares, you know, the stop is the same, but you know, you can put a different target on it. So let's say the first one is 2.8, the second one you want, like 2.6, right? You hit cover as well. And the other one is 2.8, let's say, and you hit a cover too. So it should show up here like, you know, two lines, like four lines in total, stop MKT and, you know, 3.2 and buy limit order like 2.8 and stop MKT 3.2 and buy order 2.6. So you should see like four lines in here, like you said, it's status is new, right? So that's how you can scale out of the position. I mean, given the same stop, but keep in mind that I'm using trade zero international, and so if you want like, like free commissions on that, you need to use at least 200 shares, like once it hit like 2.8, it will cover for you, it will get you out, but it's basically for free, right? But when it hits, you know, 3.2, you're gonna have it to pay anyway. 100 or 200 shares is like $1 commission or anything. So you want to check, you know, check that with trade zero. So that's the range order. And if you don't want to use the range order, like, you know, those are the bracket, right? You have the stop and the cover. But let's say you just want to use stop only. Let's say you're in here like OPK 200 shares, right? You in the position now, or if you want to know what position you in, you just click on that, you know, whatever the position you in. And it should show, you know, it pops right here, what kind of size that you in it or how many shares you have right now currently in the position, right? But let's say you want to, you know, right after the fantasy order hit, you want to put, you know, just stop, not the cover target yet. And so you want to use the same stop MKT in this time and stop prices at 3.2. As you can see here, you don't have the lower price that you don't have, you know, a target anymore. So that means this is your hard stop, right? And when it hits 3.2, it will stop you out like instantly. Maybe you might get, you know, slippage sometimes since, you know, stock is moving way too fast or like having a teleport candle or anything. The spread is like if you're trading nano floats, don't expect it to get right, you know, at that price. Sometimes, you know, you got few cents or even 10 or 20 cents, you know, slippage, but, you know, the point here is we want to hard stops, right? If you knew, you just want to get out of the trade. That's it. And so that's the stop. And there's another thing here that I would like to show you guys as well. Is this one, you can use this as the conditional order. It, you know, it seems with the fantasy limit order and then the range order, you know, you're putting out, but this one, you can do it all in one. So let's say you want a short shares is 200 limit, smart day at three. So this is your fantasy order, the first one, right? The, the other one is can put here the cover, right? Once this hit the same price, the same shares, and here you choose the range. Everything stays the same here at 3.2 as the previous example that I'm showing. Yes. So basically, basically when you click send, you send it out the orders, right? And the only first, you know, the fantasy will be sent into the market or like into the portfolio. But once it hit this one, once it, once you got filled, this one will, you know, step in, you know, right away. So this is like two ways you can do it, like either this or you can put here the fantasy, you know, at two short here. And then once it filled, you have to, you know, do it another one right here, right, which is, you know, same 3.2 and 2.8. But this one conditional order is one, this hit, this one get triggers. I don't use this a lot because sometimes, you know, I don't know. I tried it a few times, but, you know, the platform is not that good. And it kind of, you know, like stuck. And it filled me only like the fantasy orders, but did one didn't get through. But I don't know. It's maybe it just happens, you know, from my side. But you can go ahead and try that. But for now, what I do daily is that I put my fantasy out, right? Let's say put a fantasy out, I put it out. It should be up there in a portfolio, you know, window. And right after when I put this out, right, I have, I prepare myself like this. And once it triggers, like once it hit, I just click cover right away. Like instantly when I saw the price is nearing the three, you know, line or like when I know that, you know, the trade is likely or the order is likely going to be filled. And, you know, I have this and, you know, orders ready to put it out there right away. So that way, you know, if something happens and, you know, it could stop me out. All right, guys. So I hope you enjoy the video and, you know, best of luck next week. Just be careful out there. Okay.