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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CJ_Viper

Hello everyone. I am a current Millionaire Challenge Student and I'm approaching my 1 year anniversary since discovering Timothy Sykes and deciding to start a new career in day trading. I am treating this as if I am going to business school. My expectations are that I can learn, be self sufficient and profitable within 3 years. Here is a timeline of my first year: June 2016 - Discovered Tim Sykes - Joined Profit.ly July 2016 - Bought and studied How to Make Millions - Signed on as Silver Subscriber and Tim Alerts - Tested different screeners and software: Stocks to Trade, Equity Feed, DAS Trader. STT was the only one I kept. July - Sept 2016 - Watched two years of Tim's video lesson library, starting from most recent and working my way backward - Practice reading charts, making watchlists and trade plans - Review and analyze how trade plans worked out Sept - Oct 2016 - Watched Tim's DVDs: - Trader Checklist - Pennystocking - Pennystocking Part Deux - Pennystocking Framework - Timline - Tim Fundamentals Part Deux - Learn Level 2 - Continued reading charts, making watchlists and trade plans - Continued to review and analyze how trade plans worked out - Continued watching new video lessons Nov - Dec 2016 - Joined Tim Challenge in Nov - Watched more DVDs: - Trading Tickers - TimRaw - Spikeability - TIMdicators - Shortstocking - Tim Tactics - School Trader - Purchased and watched Investors Underground DVDs: - Textbook Trading - Tandem Trader - Continued reading charts, making watchlists and trade plans - Continued to review and analyze how trade plans worked out - Continued watching new video lessons, now including Mark Croock - Joining webinars by Tim, Mark Croock, Michael Goode, Tim Grittani and Tim Bohen Jan - Apr 2017 - Signed up with Interactive Brokers - Simulated trading with $30k account - Lost initially down as far as -$3000 to being up +$6000... a +$9000 turn around from Mar-Apr! - Decided to start live trading - Continued reading charts, making watchlists and trade plans - Continued to review and analyze how trade plans worked out - Started logging my trades and saving charts - Started making spreadsheets for different patterns and creating stats - Continued watching new video lessons - Continued joining webinars and watching archived ones - Start analyzing Profit.ly trades by the Gurus as well as Dux and others Apr - June 2017 - Began Live Trading (in April) - As expected, started out negative, with small losses. Recently break even. - Watched more DVDs: - New Rules of Pennystocking - Started Read SEC Filings - Continued reading charts, making watchlists and trade plans - Continued to review and analyze how trade plans worked out - Continued logging my trades and saving charts - Continued making spreadsheets and stats - Continued watching new video lessons - Continued joining webinars and watching archived ones - Continued analyzing other traders Profit.ly trades As you can see, there is a lot of time and work that I have and still continue to put into this... I estimate easily a thousand hours or more this year. And I have loved every minute of it! Even though I have a long way to go... looking back, I have also come a long way.

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jb_wolf
jb_wolf Jul 30, 17 7:20 PM

Perseverance pays off, Thanks for sharing!

NIN
1
NIN Aug 11, 17 5:20 PM

This I can identify with, concerned about not keeping up. This year is about study. Thanks for sharing CJ _Viper. #feelingreleived#

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timothysykes

Nice to get this message from IB: Dear Mr. Sykes, The issue that you were experiencing yesterday where you were not able to access your account has been fixed and should not occur again. If you have any further questions on the matter please let me know. Regards, Varoon Deshmukh Professional Services Interactive Brokers

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JessicaKelly

My opinion on the best penny stock brokers - Etrade and Interactive Brokers have high account minimums and don’t accept people from certain countries so it's best to for people with smaller accounts to use Questrade, Schwab, SpeedTrader, Scottrade and Fidelity. I would highly recommend avoiding brokerages like Robinhood and Suretrader. Suretrader are based off-shore, allowing you to bypass the Pattern Day Trader rule but have recieved a lot of negative reviews from previous customers. Robinhood are free but you're at a serious disadvantage to your competition, it's like showing up to a gun fight with a knife. https://www.youtube.com/watch?v=tnqadcBE57I

sergusia
sergusia Sep 15, 17 12:00 PM

which broker do you recommend in UK ?

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jadkaram1993

@dux Mister dux, i just wanted to know when you traded with Interactive Brokers did you use the trader workstation platform or just the webtrader to place your orders? And what do you use for charting stockstotrade? thx

dux
dux Mar 17, 17 11:28 PM

work station and stt

YaroYasinskiy
YaroYasinskiy Mar 19, 17 10:04 PM

Dux quick question, is interactive brokers good for finding shares to short without going to center point?

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huperauxano

@zelus699 Here is screenshot of my Market Data selections in Interactive Brokers setup. Fee for general bundle waived once you get up to certain number of trades per month. Then added Level I from NYSE / AMEX and NASDAQ. I may adjust to dropping NYSE / AMEX and OTC as I get more into focusing on pennystocks. But NASDAQ Level II for sure.

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Alejandro86

@Arussell125, Hi Arick, hope your have a few minutes. My question is regarding the SpeedTrader broker you started using. Was there a key difference you selected SpeedTrader vs Interactive Brokers? thanks man.

Alejandro86
Alejandro86 Mar 04, 17 10:12 PM

Sorry Arick, for my ignorance and a noob question there. I laughed at my self bcuase I didn't pay close attention that it was lightspeed. Thank you. & thank you for the Y.T. vidoe's they are informative.

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hacktheticker

Guys, this is also my question, I am currently struggling around to find out the best, cheapest and reliable broker + platform. Can you please help letting us know what's your opinion about it? I can't start with E-trade or Interactive Brokers because I don't have the minimum deposit amount to start with, but I have less than that and I am not less than 26 year old unfortunately :) Thank you all in advance with your support. Victor

+1 Karma

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fastdounut
fastdounut Feb 10, 17 5:12 AM

Nice, never heard of them. Just suretrader

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