Complete Tradovate Tutorial For Beginners Step by Step 2024

hey so if you're new to trade of 8 and need to walk through and want some tips and tricks about it this is the video for you now tritiva is a really awesome web-based platform with low margin low account requirement and low fees so if you're really looking to get into futures trading try to bit is a really good platform to check out so we'll just jump right into the web-based default that they give you now initially i would say what's best is to just clear everything off the chart it's a lot easier to start from a blank slate so just go up to the top right here and just start clicking the x's to close out all of these boxes now this is a blank slate and so what trade-off does is up top left here you have a plus sign add modules and how they have it set up is you can just add different sections of the chart so i can add click and drag a chart here and then i can actually click and drag let's just say a dom and you can add this kind of wherever you want and so you can add a lot of things on the chart if you want it set up like that then from there type in the symbol you want i like to trade the es futures and so that is what i'm going to add in here and then you can move these around how you want and so right away they have a lot of different indicators on the chart and so what you want to do is again let's just clear all those out so if we click on the gear here the chart elements we can just click the trash can and remove all those and as well if you go to the chart settings we there's a few price levels here they put on that just put extra lines on the chart and we can take those off as well now if you do want to add indicators it is just the indicators tab here and you can just find either by finding it or you can search for it and then as well to change the chart that you're looking at the period it's just right here in this time slot i found that a little different to some of the other platforms like ninjatrader but here all you can just go is to let's just change this to minute chart because that is what i actually trade myself and then you have a tab up here if you want to add another chart and so i like to look at a 15 minute chart as well and so i'm just going to come in here and add this as a 15 minute chart so i can look at kind of a bigger picture and then go back to trading on the one minute chart that i i like to focus on now other things that the platform has is you have crosshairs you can change it to different settings and then you also have a data box if you like to know the exact price of the current candle you're looking at and then here they have their drawings and a big one is i like to use is actually likes to use rectangles for my support and resistance and so you don't you have to click on the chart initially to activate the drawing you can't just click and drag right away so you have to click toggle it and then you can go from there and you can actually move this around and so you'll see i'm clicking on the chart and it keeps coming up with the option of sell or buy and that's because of this tab or this chart trader up here so if you go up to this symbol up here the gear up here you can turn off trade mode so that'll take it off so you're not having to click on the chart and have that come up all the time that's definitely important and we'll get to that in a minute but that is important to make sure that's not coming up when you don't want it to and and so once i've drawn this box i can move it how i want you can double click on it for the settings and then you can also save it as default so if you want a drawing to show up the same every time this is where you would do that now a big one is i actually like to draw support and resistance levels off of a 15 minute chart so let's say i draw a rectangle for my resistance level up here this high but then i want to go in on a we'll just remove this because i actually drew this on this chart i then go you know i draw my level here and then i go back to my one minute chart and it's not there so how you sync these up is first you want to make sure this little circle here for the color of your chart is the same color so we'll change both of these to be read and then if you click on the drawings tools at the bottom you will see sync charts and so what you want to do is just click sync charts on both of them because you have to activate this on each chart when you want this synced and so it's kind of nice if you want some charts synced and others not and so once you do that that will then sync up the drawing now one important thing to note is you can see that box didn't actually show up on this chart and that is because i drew that before the synced charts happen and so if we just now that everything's synced i can go and draw in another let's say this support level here and you will see that that has actually showed up on our 15 minute chart here and so that is actually it's synced now and so now it is actually working with every future drawing now what's awesome about trade of 8 is they have the ability to just click on the chart and trade from it so if we go back up to our chart settings up here and we can click trade mode back on this will allow us to have that click to be able to buy or sell at that price this allows us to enter trades quickly and also is us to have bracket orders and so these are super important for when we enter in a trade our profit target and our stop loss are immediately put in and so to actually create one of these we want to go to the gear next to the where we see the brackets off and then we can just click this plus sign next to bracket name and that'll make a new bracket order and so we'll just make a new bracket order here and there's a couple different settings here that you can change that's mainly preference of ticks uh type is important that's just for for our profit target and our stop loss and so here this is where you can change it for how much you want it and so because it is shown in ticks this is going to be four ticks and so four ticks on futures is pretty small and so we're going to want to move this up to let we can just go 20 and 20 for now that'll make a pretty good size bracket order and then if you want you can actually turn an auto break even on and this will move your stop to auto break even after a certain amount of parameters have been hit now i don't actually like using that but if you want that is there so we can then just save this and then we can actually go back up here to find that now that we have made that and then we can select that on and so what we can do then is we click on the chart we can click buy to put in an order and you can see i actually just got filled on that with the market hitting that order because i pretty much just put it right where the market was now you can see that my profit target up here and my stop loss is down here now and what i can do with those is that i can actually click and drag them if i want to move things around and so if i think that okay i want to get out if the market breaks below my support level here and i want to get out when it gets toward the top of this area up here that is how i can move those around to set up for that and then you can also do that over on the dom over here if you want but i usually focus on actually trading on the chart and then here you can see my current position you can see it on the dom or just on the current trader tab and you can see that it's just up 1250 right now and as the market moves around that number will change around and so if you want to just buy in the market quickly without doing that of course you can use any of the big buttons here and then there's also a couple options here to cancel or exit market to if you want to just close out a position now as well another thing is if you want to increase your number of contracts you have a couple default options here and you can also just type in if you want an exact certain number so to just show you another a couple cool things on trade ovate they actually have legacy charts here and so this is just their old looking charts they're pretty similar so if you want to check those out you might like those a bit more they're pretty much the same but you can see there's slight differences here in just how things are laid out and then another cool thing is you actually have the performance center and so this is just something that you can pull up and it will show you your profits and losses over time i can just close out all these just to show this a little better and so what it'll show you is all your data on all your trades you've taken and so over time this will actually show you important data that you can use this kind of thing isn't very useful if you don't take many trades but once you start to accumulate trades you can start to look at this and start to see what's working and what's not now one other nice thing about the chart settings up here is the bar countdown settings and so all this does is it adds a countdown for when the bar is going to finish so if you have a one minute chart it's going to count down for about one minute until that bar is complete and then move on to the next one and you can actually add an alert and have it play an audio sound when you want so if we save that you can see that up here so it's counting down and then it starts again once the bar is filled and then it'll move on to the next bar and continuously count down so that's nice if you're waiting for a bar to be filled before you take a trade you can see when that happens hopefully you have a better understanding of trade of eight now if you have any other questions feel free to reach out in the comments and if you want to know more about actually trading and using a strategy to day trade on trade of 8 feel free to check out my other videos because i will walk you through everything you need to know

Channel: Riley Coleman

Views: 57,530

Keywords: tradovate, tradovate futures trading, tradovate tutorial, tradovate review, tradovate tradingview, tradovate futures, how to use tradovate, how to use tradovate app, how to use tradovate platform, tradovate setup, tradovate chart setup, best tradovate setup, tradovate settings, tradovate tips and tricks, tradovate secrets, futures trading, futures trading tradovate, tstrader, tstrader desktop, tradovate bracket order, tradovate bracket settings, tradovate brack

Id: bE8TYccnatI

Length: 10min 22sec (622 seconds)

Published: Sat Jul 30 2022