Gert112

@MichaelGoode I forgot to mention this. Tradestation does not offer shorting OTC securities priced<$2,5 - all other securities are allowed to short.

Scubajulie
Scubajulie Apr 22, 4:51 PM

Aloha Michael- I just watched lesson 9. Which APP do you use to update your news sources.

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Gert112

@MichaelGoode ... Great article on your webpage. https://www.goodetrades.com/2009/09/how-to-borrow-shares-to-short/ Just to inform and update you. I'm currently a Tradestation and Interactive Broker client. The Tradestation platform have a "Short Locate" function, which search for HB securities. About 20-30% of the times when IB does not offer shortable securities I can find them at Tradestation. It takes around 30 sec up to 15 min (80% of times I get an answer within 2 min) to get the answer from a "locate request" - using their inbuild platform locate tool.... Thank you for all your great work (I have recentley bought the (How to read SEC filings) I really like your in depth academic style YOU ARE THE MAN!

MichaelGoode
MichaelGoode Apr 09, 10:33 AM

Thank you very much for letting me know. I will update that blog post with this info

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scottniu

@MichaelGoode Hey Michael. Let's say you enter a trade. How much time will you give it if the stock can't make up its mind?

MichaelGoode
MichaelGoode Apr 09, 10:24 AM

It all depends on what my original timeframe and plan were. If I made a trade because of news that just came out I will usually give the stock no more than a minute or two to start moving in the predicted direction. If it is a morning trade I will give the stock less time than if it is an afternoon trade

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jordanpothier

@MichaelGoode Hey Michael, maybe you can answer a question for me? I am not sure if it is the platform I am using (thinkorswim) or if its something I did wrong but I tried buying 1k/shares of $KCPC and i received a message saying "REJECTED: Clients are unable to place a Market Order on an Opening Transaction for OTCBBN securities. BUY +1000 KCPC MKT". I have never received a message like this and not sure why or what that means besides the obvious. Can you explain?

MichaelGoode
MichaelGoode Mar 15, 11:33 AM

First, I recommend against ever using a market order, but if you do use them only use them for very liquid stocks that are not volatile. Your broker is protecting you from getting a horrid execution by preventing you using a market order on an OTC stock like $KCPC. Next time, just use a limit order and if you want to have a greater chance of it getting filled, place it a bit above the best offer

ProfitMe
ProfitMe Mar 16, 12:12 AM

Hey Michael, are you ever using Stop Limits or just Limits?

MichaelGoode
MichaelGoode Mar 18, 9:17 PM

When I do use stop losses I usually use trailing stops or I use stop limit orders (and set the limit far enough below the stop trigger price that I'm almost guaranteed a fill). I avoid ever using market orders

ProfitMe
ProfitMe Mar 18, 10:41 PM

Awesome, thank you very much.

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pohhoppoh79

@MichaelGoode Hey Michael! I just started learning. I'm not a US citizen and I want to start with $800, is it possible? or I need more money? Thanks!

MichaelGoode
1
MichaelGoode Mar 13, 9:51 AM

I have never used them so cannot recommend them but Tradezero.co is an option. But I really think it will be very, very unlikely for you to make money after considering commissions and fees starting with just $800

MichaelGoode
1
MichaelGoode Mar 19, 2:09 PM

Assume instead that you will do most things wrong and will consistently lose money when you start trading. Your only good option I think would be to study free material (plenty out there are on blogs like mine and Tim Grittani's) while saving up to fund a trading account with $2,000

pohhoppoh79
pohhoppoh79 Mar 22, 11:59 AM

@MichaelGoode Hey Michael! Excuse me ,I didn't see your answer. Yes, I think this assumption will be more correct, you're right. I will do as you said. I found in the Internet (Tim Grittani Trading Tickers DVD) for free. Price of this DVD $1,700. I will study all material from you and Tim. Thanks a lot! I really appreciate your help!

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