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

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?

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

Either tier structure is expensive for cheap stocks (particularly under $1 per share). I recommend tiered if you buy on the bid and sell on the ask more often than not

Thanks Michael, I'm guessing tiered fee structure is best if you add liquidity to the market, and get rebates on that?

Yes, if you add liquidity then tiered is best and overall it will be cheaper

Keep in mind that what matters is not the price but the volatility. If you have a $10k position in a $1 stock and it goes up 10% you will make $1k. If you have a $10k position in a $10 stock and it goes up 10% you will still make $1k. So don't avoid trading higher-priced stocks for that reason. If you are trading Nasdaq stocks then all that matters is that your broker doesn't charge you per share commissions (or else it will get very expensive). If the stocks are OTC (most of the cheapest stocks

Does a strong close indicate a potential morning spike? Currently longs only for me.

it does make it more likely to gap up but I don't find it that reliable

Hello Michael... I just signed up for Silver and am happy to be here. Will not be sending many question, only a very occasional one if critical. Bought IHT today near close after the big dip. In at 2.35, did not bounce. Did not want to hold overnight re: not closing near hight. Cut losses quickly, out at 2.33 after holding to 2 min before close :-) . Any words of wisdom welcome as I am new but study and listen. Trading very small position instead of paper. Thanks so much. Freddie

will probably stick to dip buy in the open.

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

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

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

@Turbobob @AirplaneJane @MichaelGoode @ThomasLegend

@RolandWolf

https://www.goodetrades.com/2009/08/how-to-track-your-stock-trades/

Thank you checking it out

I have never heard of it before

ok thanks

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

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

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

Awesome, thank you very much.

Thank you very much!

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

@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!

@pohhoppoh79 where did you find the dvd im in the same situation but I've bought trader checklist and penny stocking framework part 2

As someone who is by nature very risk-averse I also have sometimes had the problem of not being willing to pull the trigger and make trades. I think that is better than the opposite problem because if you are overeager to trade you will likely end up losing lots of money quickly. What you need to do is increase your confidence. The way to do this is to track the setups you want to trade consistently so that you can see how reliable the pattern is. Then start trading very, very small (even a $100

position size). After trading consistently profitably (excluding commissions) for a period of time you can gradually increase your position size

The benefit of doing it this way is you will be correct in being more confident because you will have a record of trading well

Thanks for your reply! I will definitely try doing this.

I have similar problem. I still don't know how exactly how offerings are made. More specific, I dont know what SEC file comes first out. Is it always first S-3, then they get EFECT from SEC and then company can do (whenever they want even a year later if they want to) ATM or 424b5? Where do I see is the offering is ATM? @tradescared, you should prbably know this.

best tihng to do is not over night long companies with no money or short term cash

I am a monthly subscriber for TimsAlerts and I can’t get in the chats or anything else through Profitly like I used to. Anyone knows how to solve the problem?

I am not sure what webinar you are talking about -- could you describe it in more detail? You can see all my webinars in reverse chronological order here: https://profit.ly/ticker/GOODE

With $3k I would suggest either Etrade (better for shorting) or TDA. As to how to place the first trade, I know at least TDA has a good paper-trading system so you can practice there before you commit real money

Thank you!

Spreadsheet is here: https://is.gd/riskreward -- To save a copy of the spreadsheet to your Google Docs so you can edit it, click on "File" then "make a copy". To download a copy to use in Excel or OpenOffice, click on "File" then "Download as..."

@MichaelGoode That is a good one Thank you.

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

@MichaelGoode Yes it does! :) I love tradingview, amazing for drawings and fibonaci aswell

Appreciate the responce guys

I like it too because you can actually do paper trades as well for free, and you can backtest strategies

TOS allows you to go to any time frame in the past.

I used TOS for a couple years 8 years ago. The TOS software is nice but not necessarily better than IB -- it is a lot easier to learn though