ChristianNailedIt

@Dragonrider Super noob question here. When buying should you put in a price that meets the seller to get your trade executed quickly (versus trying to put up your own price)? And for selling, should you immediately go to a buyer's ask to get your shares sold quickly? Anyone's response would be helpful, thanks!

Dragonrider
Dragonrider Dec 14, 17 10:12 AM

If you have an account below $25k use a market order to get out. This way you guarantee that all your shares will be covered. Otherwise you run the risk of not covering all of your shares and wasting more than one day trade. Of course, if you held the stock overnight then it is not considered a day trade and you can use as many limit orders as you want to cover your stock. The most important thing to short selling is to limit your losses. Have your market escape order prepared in advance (a

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bpjory

@Dragonrider Hey, I see that you are a short seller, and I'd like that option as well, but I don't have a margin account. My account is big enough, but I have poor (improving, slowly, but still...) credit. And Im assuming that a credit check is standard practice for opening a margin account?

Dragonrider
2Dragonrider May 08, 17 4:16 PM

I use etrade. They did not do a credit check on me that I am aware of. You just need the $2k. Be sure to do lots of paper trading or short small amounts of shares (like 100 shares). You will not make any money doing that small amount but if you are new to trading you MUST LEARN and get EXPERIENCE before you put real money on the line. Write everything down from your trades and note the catalyst (how strong?), note support/resistance, note is the stock swining to the upside or are you waitin

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asawant

@kroyrunner HI Tim I am trying to start again with some initial loss and a break. Which broker would you recommend for starting with $1k?

mattjones
1mattjones Oct 21, 16 11:17 AM

Bro you can start with as little or as much as you want. It may take a little longer to grow your account, but don't worry about that. Just study, take your time while trading, and learn from those mistakes you made in the past. Tim only started with $1500 in his account.

Dragonrider
4Dragonrider Oct 31, 16 7:22 PM

Proceed with caution. I use Etrade and I am very happy with them. They are better than Scottrade and TD Ameritrade, both of whom I have had accounts with in the past. I short sell mainly so I need a minimum balance of $2,000 to have a margin account. Best of luck. Before you put cash on the line do 50 paper trades and write down everything about them (price, volume, risk/reward, Day 1, Day 2, Day 3. What time would the best trade have happened and why (catalyst, support, resistance), what d

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brownStone

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Fox_Trader
Fox_Trader Apr 16, 16 4:50 AM

Good point very true Dragon.

Rollingball
Rollingball Apr 20, 16 11:44 PM

I know I'm late to this conversation, but one thing that might help is putting in your limit sell order shortly after buying. This may need to be edited if it does not hit your sell point, but it may go past your limit and make you more than you expected in the first place.

Dragonrider
Dragonrider May 05, 16 1:40 PM

I some times use a limit order after buying but only if the stock has gone against me and I'm looking for a quick exit should it go my way. Otherwise, I watch the trade like a hawk and have a limited order and a market order ready to go. Then I choose which one I need at the moment I want to COVER. Hope this helps.

nestech09
nestech09 May 12, 16 7:01 PM

I have to start doing that...

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Dragonrider

[TimAlerts] $CERE. Shorted 3000 shares at 1.40. Out at 1.27 for $390. No more day trades so I'm done for the day. Best of luck to everyone.

Dragonrider

[TimAlerts] CAPN. Shorted 4000 shares at 2.90. Out at 2.80. Got out too soon as stock is now at 2.70 but its $400 today. Happy trading everyone. I'm done for today.

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Dragonrider

[TimAlerts] $CDTI. Took a $38 loss shorting 5,000 sh at 2.00. Three hours later the stock was above 2.00 - 2.13. Got out at 2.007. Six minutes later it plunges to 1.87. LOL! The jokes on me. Could have made over $500. Tomorrow is another day.

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