PocketPAT

Wow lol... I'm personalizing Trader Workstation for trading with Interactive Brokers tomorrow and Tim's commentary keeps buzzing about CRSM. I go to see what all the fuss is about and it definitely ripped a $2,100 equivalent move on full-size (30k shares). 60k shares would have been ideal, but it doesn't look like it would have been a safe position size due to liquidity. 30k was easily executable though, based on Time and Sales history. Very nice. I'm not considering these super low-priced tickers, because it's too hard to trade on Level 2; but it's definitely a learning experience.

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PocketPAT

Sadly, I've had nothing but problems executing orders through StocksToTrade. It WORKS, but 1) it makes STT super laggy, 2) there's an extra delay between STT and the broker for both execution fills (DANGEROUS) and registering green/red chart arrows for visual order reference, 3) the API could be having issues, because ETrade doesn't let you use more than one instance on your account at a time (for example: I can't use Power ETrade AND ETrade Pro at the same time, it logs me out of one when I start the other) which is an issue because STT just freezes up completely when I launch any ETrade platform (TERRIBLY DANGEROUS MID-TRADE) (it's not STT's fault, but it doesn't handle it well by completely freezing or crashing). STT Support told me to reach out to ETrade, I decided to just skip broker integration on STT altogether. All kinds of API errors were popping up on STT from ETrade AND Interactive Brokers... And I really didn't like how STT Support just left it at, "talk to your broker".... Like I said, it'll work, but STT is MUCH MUCH MUUUCH smoother without brokerage accounts linked to it. It loads at least 2-3x faster as well. My biggest question is WHY does it crash/freeze when there's an API or connection issue? Why doesn't it just say "disconnected" like other platforms, but still run perfectly fine? Either way, it's worth more in the long-run to get acquainted with individual brokerage software platforms, as I really don't want to be tied down to using only STT for everything. So I'm very pleased with today's progress =) ... Other than broker integration, STT is phenomenal.... so far. (albeit it still won't save chart markers after closing the software but whatever, that started with this latest update so I'll be waiting for the next one). For anyone wondering, STT is still very much worth the monthly price; and for anyone who would say that I "shouldn't have to deal with these things for the amount that it costs", that's unfortunately a loser entitled mentality that would get me nowhere. I am more than willing to figure out how to make it work to do what it needs to do for me to make MONEY. That's all that matters in the end here.

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PocketPAT

After consistently confirming TWO solid setups this week, which both have long-run potential (2DR + #2 Breakout); I've decided that six day trades per week SHOULD be enough, instead of nine. I'm splitting my TD Ameritrade funds between ETrade($8.5k) and Interactive Brokers($8.5k), to start with $17,000 between just two accounts instead of three, for six day trades.

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PocketPAT

After calculating Friday's clear $1960 profit potential, I'm wondering if I should skip practice-trading with micro-positions and get right into it; but I think I'll do at least two to four weeks of practice trades while still completely funding all three accounts. Tomorrow I will split $7,100 between ETrade, TDAmeritrade and Interactive Brokers (2.5k, 2.5k, 2.1k) until I gather the remaining $8k to fully fund $15k in total (likely in the next four weeks).

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PocketPAT

That actually makes SO much sense.... ETrade, Interactive Brokers and TDAmeritrade... I can bring back the 2DR setup and even if I have a bad entry, I can cut losses at like (-$50) and still have 8 trades left. Reenter at the true bottom after a confirmed bounce, ride the move and take a 10% win of $500, grossing +$450 on the day... Still 7 trades left and already over weekly profit goals to hit PDT by January.... Feels like I NEED to do this... It’s decided.... Bedtime =)

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PocketPAT

Best play this morning was FCSC. Dipped down to my designated support level t 2.70, but decided to just watch. Profit Potential: $440-700 (2200 shares). 2DR entry was expected at the same buy level of 2.70. Playing initial dips only, but studying the 2DRs for after PDT. Testing out StocksToTrade execution speed with my ETrade account =) .. Feels good. Reconsidering Interactive Brokers for the second account instead of TDAmeritrade, just for StocksToTrade compatibility.

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joeylowe

Hi! I saw your question in the chatroom about CMEG. I've been using them since last August. Here's my review: Takes a little longer than a week to get setup with them. They are state certified in Trinidad and considered a partner of Interactive Brokers. They abide by NASDAQ rules and are in my opinion doing everything right. They have two platforms. I use DAS Pro Trader. It's more versatile than Trade Station. They are dirt cheap when it comes to commissions. $5.90 for a complete trade plus ECN fees of a few pennies. Trades are instantaneous. Customer Service used to be spot on. I mean I could call or text and get an immediate response. That now lags to more than a day. This is because they've grown exponentially. Of course, if you need trade help, the desk will pick up on first ring. You do have unlimited trades (No PDT rule) and they offer staggered margins up to 6:1. Use of margin trading is up to you. Just remember it's risky. The downside is they only accept wires for funding. That means your first couple of funding wires will take 2-3 business days before your account reflects it. Once you build history with them (no margin calls, pay your fees, etc.) they will auto-credit your account within an hour of you notifying them of the wire with proof. Send them a copy of the wire receipt for instance. Bottom-line is I use them every day and have no troubles. Not to mention, the Turks and Caicos make a great vacation...errrrr...business destination to check on your trading activities.

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Van

The Interactive Brokers is not supported to verify trades any more on the profit.ly website and Its been over 5 months this issue has been remaining. So i decided to upload all my trades on https://www.tradervue.com/.

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tommyvercetti55

@MichaelGoode Hi Michael. You mention on your blog that you do not use TWS anymore, but you are still using Interactive Brokers. I was just wondering if you are using DAS connected with IB or a different broker for the charts and L2 but use IB to execute orders. Thank you.

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MichaelGoode
MichaelGoode Sep 26, 18 9:58 AM

I don't know where I would have said that -- I still use TWS. I do use DAS Pro with Centerpoint for level 2 and charts

tommyvercetti55
tommyvercetti55 Sep 26, 18 3:04 PM

Oh sorry, I didn't read that carefully. You replied to someone on your blog that you still use TWS but not time and sales and L2. Do you think DAS level 2 and time and sales is more accurate than IB's?

MichaelGoode
MichaelGoode Sep 27, 18 9:44 AM

TWS L2 & time and sales is just as good but I have always considered TWS charts ugly. I have used them in the past but I just find it easier to use DAS Pro and I have to pay for those charts / L2 anyway whereas I don't have to pay for the IB L2 if I don't want it

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iggycat69

Uptic Downtic Morning Panic Morning Spike Sideways Price Action Mid-Day Perk Perking Up Afternoon Ramp Consolidation Supernova/Parabolic Uptrending Downtrending Stock Halt Price Imbalance Intraday/Overnight positions Gap Up Gap Down NYSE/AMEX NASDAQ Pink Sheets Grey Sheets OTC ADRs (American Depository Receipts) Biotech Sectors Industrial/Manufacturing Sector Technology Sector Energy Sector Financial/Real Estate Sector Medical Sector Emerging Markets Gold/Silver/Commodities Sector GTC (Good Til Cancel Order) Day Order Premarket Order Afterhours Order PDT Rule (Pattern Day Trade Rule) VWAP (Volume Weighted Average Price) RSI (Relative Strength Indicator NHOD (New high of the day) NLOD (New low of the day) EOD (End of day) A/H (After hours) E/R (Earnings Report) 52 week high 52 week low TOS (Think or swim) TD (Td Ameritrade) ET (E*Trade) IB (Interactive Brokers) MMID (Market Maker STT (Stocks to Trade) First Green Day First Red Day Penny Stock Promoter Wolf of Wall Street/Boiler Room Pump-looking Chart Paid Pump Uncompensated Pump R/R (Risk/reward) L/F low float stock P/H (power hour) Green on the day (stock went positive on the day) Red on the day (stock went negative on the day) G/R (green to red on the day) R/G (red to green on the day)

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Gert112

@Torkers Interactive Brokers are pretty cheap in the industry in general. Maybe someone is cheaper. I would suggest you dedicate a couple of hours work, creating a spreadsheet, with all the price variables, and compare different brokers. There are many fees to consider, so getting a overwiew in a spreadsheet is a great way. Also have in mind (if you prepare to make shortselling) that IB have way better borrows, than Thinkorswim. IB - TSW platform, also comes free. It can really pay to choose the right broker from start, so do the digging. - Link: https://www.interactivebrokers.com/en/index.php?f=1590

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tommyvercetti55

@MichaelGoode Hey again Michael, just a quick question, is it a good idea to use Interactive Brokers to trade stocks under a dollar? They charge a per share fee for Canadians ( CAD 0.01 per share, Minimum order $1) and I was thinking if I was to trade tens of thousand to hundreds of thousand of shares of an OTC/NASDAQ stock would the commission fees take most of my profits? I'm kind of confused here whether I should find a broker that charges a flat fee for low priced stocks or just use IB. Thanks!

MichaelGoode
MichaelGoode Jan 19, 18 10:37 AM

I use IB for low-priced stocks because most of the time I am shorting them and no brokers that have flat fee commissions will let me short stocks under a dollar but it is true that taking decent position sizes on cheap stocks will result in large commissions at IB. At least for US clients the max commission is 1% of trade value. If you do trade a lot of lower-priced stocks I recommend getting another broker for buying the cheap stocks

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vinc6491

After 1 month of paper trading, I finally setup my account with Interactive Brokers Canada. Funds will be available for trading on September 26th. Really excited for it. Until then, study study and study more !

bahamastrader123
bahamastrader123 Dec 20, 17 7:38 PM

why did you do paper trading and not just go straight into interactive brokers

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CarolusRex
CarolusRex Sep 27, 17 10:58 AM

Hi Tim, does this configuration not make execution harder

TimLento
TimLento Sep 27, 17 11:16 AM

It might, but I haven't noticed any issues.

bahamastrader123
bahamastrader123 Dec 19, 17 8:28 PM

Hey all I have is $1000 to trade and need a little help with interactive brokers which account to choose?? They have all these Individual Investor or Trader, Family Office, Friends and Family Advisor,Hedge or Mutual Fund. I am also a Bahamian

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ThomasLegend

I just opened an Interactive Brokers account with $11,000 funded! Starting small with this account and E-Trade which has $4,000. Will be under PDT for both accounts. But happy I can verify trades with those accounts. Using photos to verify with Merrill Edge. Will use those brokers exclusively for shorting.

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