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

@MichaelGoode ok i will look into that, thank you so much! in the meantime, what do you think about TradeStation? they are US broker that accept Australian residents. are they any good? thanks

Tradestation is a decent broker but not at all good for short selling

I personally use Tradezero. They clear through vision who is one of the clearing firms centrpoint securities use so they nearly always have the HTB stocks. Charting is not the greatest but can get by with it. I had same problem being Australian when looking for a broker originally.

Hi- I'm from Australia and haven't even started trading as yet. I'm watching all vids as many as possible and looking to tee up with someone in Sydney. I need to know what's the best broker and bank to go through in Oz too. I want to do trade in US time to early start day trade. I'm starting there, very small to see how I go.

Suretrader would work for that although with their high fees and poor customer service I certainly can't recommend them

Awesome ty michael

I learned gradually, in college and graduate school. If you want to learn I would recommend Excel 2016 for Dummies (I have used and liked the Dummies books on other computer topics): https://www.amazon.com/Excel-2016-All-One-Dummies/dp/111907715X/\

Thanks a lot. I really appreciate it michael

I'm glad you like it!

Oh, absolutely! The bit about tax paid vs tax accrued was worth the price of the set on its own, really. That would save tons of people a lot of heartache if they knew that bit of info.

in that case it could be a good buy if it then crosses above the vwap

Ok. Thanks!