Let’s go over the top three things to avoid in a broker and how all these things can really cost you money and eat away at your account.
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Stock Trading 101: A Day Trader's Guide: https://www.youtube.com/watch?v=G_v3GMkKCjk&list=PLWWz2BSabm3bG64ohfJ-CnnVTjLCWwvei
Advanced Stock Trading Tips: https://www.youtube.com/watch?v=OXLs_-PgMUk&list=PLWWz2BSabm3YCZdk7ocrBXGJaLVXXFUYb
StocksToTrade Software Tips and Tricks: https://www.youtube.com/watch?v=jiTi-chHNyo&list=PLWWz2BSabm3ay_lvQC9JN_1niB78bI7ga
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When it comes to stock brokers — there's reputable ones, intermediary ones and really sketchy ones. So what should you avoid?
Number one: Avoid brokers with ridiculous leverage. Leverage can be very attractive to new traders. As a new and growing trader, your goal is to make good trades. But the simple fact is, you're going to make mistakes. You do not want to compound those with ridiculously high leverage. Remember, leverage amplifies everything.
Number two: Look at the fee structure… especially these brokers that allow you to short these really hard-to-borrow stocks. I know it's attractive to short these penny stocks, these big runners. But you end up paying tremendous fees for the “privilege” to short the stock. Don't just sign up with any broker. Know what you're paying and review it.
Number three: Brokers that don’t allow specific order types or specific times to trade. For example, you want to avoid a broker that only allows market orders. If you're under the PDT, you're going to be overnighting trades. As a new trader, you should avoid pre-market and after hours for new positions but if you're just looking to exit, that’s fine. Make sure you can do limit orders. Make sure you can do stop-limit orders. You need the ability to exit your positions in pre-market or after hours. If you can't get out, things can get messy once the market opens.
Be diligent. Look for these fees. Make sure you research and find a good broker.
#StocksToTrade #StockBroker #Broker
*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
You can lose money trading stocks. Do not invest money you cannot afford to lose. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services.
🔴 Subscribe for more free Stock Trading tips: YouTube.com/StocksToTrade
Share this video with a fellow Trader: https://youtu.be/wPSA7pghS4Q
✅ Links we mention and recommend:
Try StocksToTrade for $7: https://bit.ly/2Nbfku7
Get our FREE weekly watchlist here: https://bit.ly/31DVLhP
Check out the SteadyTrade podcast: https://steadytrade.com
✅ Recommended video: https://youtu.be/l34ywIiVqY8
✅ Recommended playlists:
Stock Trading 101: A Day Trader's Guide: https://www.youtube.com/watch?v=G_v3GMkKCjk&list=PLWWz2BSabm3bG64ohfJ-CnnVTjLCWwvei
Advanced Stock Trading Tips: https://www.youtube.com/watch?v=OXLs_-PgMUk&list=PLWWz2BSabm3YCZdk7ocrBXGJaLVXXFUYb
StocksToTrade Software Tips and Tricks: https://www.youtube.com/watch?v=jiTi-chHNyo&list=PLWWz2BSabm3ay_lvQC9JN_1niB78bI7ga
Weekly Trading Recap Videos: https://www.youtube.com/watch?v=_n0XaDt1XFY&list=PLWWz2BSabm3b3-4DcEx98TzNPLAKcq6ES
✅ Follow StocksToTrade on social media:
Instagram: https://www.instagram.com/stockstotrade/
Facebook: https://www.facebook.com/StocksToTrade/
Twitter: https://twitter.com/StocksToTrade
When it comes to stock brokers — there's reputable ones, intermediary ones and really sketchy ones. So what should you avoid?
Number one: Avoid brokers with ridiculous leverage. Leverage can be very attractive to new traders. As a new and growing trader, your goal is to make good trades. But the simple fact is, you're going to make mistakes. You do not want to compound those with ridiculously high leverage. Remember, leverage amplifies everything.
Number two: Look at the fee structure… especially these brokers that allow you to short these really hard-to-borrow stocks. I know it's attractive to short these penny stocks, these big runners. But you end up paying tremendous fees for the “privilege” to short the stock. Don't just sign up with any broker. Know what you're paying and review it.
Number three: Brokers that don’t allow specific order types or specific times to trade. For example, you want to avoid a broker that only allows market orders. If you're under the PDT, you're going to be overnighting trades. As a new trader, you should avoid pre-market and after hours for new positions but if you're just looking to exit, that’s fine. Make sure you can do limit orders. Make sure you can do stop-limit orders. You need the ability to exit your positions in pre-market or after hours. If you can't get out, things can get messy once the market opens.
Be diligent. Look for these fees. Make sure you research and find a good broker.
#StocksToTrade #StockBroker #Broker
*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
You can lose money trading stocks. Do not invest money you cannot afford to lose. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services.
I am new here in uk so how i can start my trading can you help me
Super helpful Tim thanks
How do I get into stocks, I'm 18 and I want to start making my money to work for me
I invested in a broker ..came to the end point to withdraw…paid my fee …does he have to give me my money if he is real..he saying he is holding my money because I bad mouthed him
HI THANK YOU FOR ALL INFO. I BEEN TRADING FOR ABOUT A YEAR THE MONTH OF NOV EVERYTHING SAID I WAS DOING GREAT THERE ANTTLIST SAID I WAS UP 30G EVERTHING WAS PERFECT EXCEPT MY STATEMENT DIDNT SHOW ANY PROFFITS OR LOSES BUT ACCOUNT SHOWS UP 75% PERFORMANCE SHOWS BIG WINS BUT THE BROER SAY LOOKS RIGHT E*TRADE ANY CHANCE YOU HEARD ANYTHING LIKE THIS OR ANYHELP MAKING SINCE OF IT ?
Misleading title
paper trading now thanx for the broker advice god bless you tim
I have a cash account and I’m focusing on learning how to buy first then as my account grows if I feel I’m ready I can go to a margin account , it also keeps me under the PDT
Thanks!
Hate the fee structure but have not alternative. Every land has few good broker lynx is the only alternative in Germany to trade pennystocks
where did Stephen go did he quit trading lol
Tim B, have you seen $SOLY from 5-11 Jul. A lot of days appeared to be similar, if not exact gap/crap VWAP strategy you talked about. 10 Jul looked like a great VWAP consolidation along VWAP for a great swing on the 11th. Thoughts?
HI Tim,
I wanna know how a stop limit works
Why do you advise people to avoid Forex? And what about futures?
🙂
Thanks
Hi TIM… can I use $tockstotrade paper trade with out having a broker account yet? Im in Costa Rica have been studying for the pass year and I what to se if I can do that before I open my interactivebroker account since I think is the only broker that I can use… unless you can help me with that and gave me some names o brokers that do international accounts..
I trade on webull which is nearly free. They have full before and after hours. They also have all order types.
They don't have trailing stop loss yet. NO PDT RULE on cash account.
3 questions
Does StT have trailing SL?
Does any broker do stop losses during after hours or pre-market?
What program gives us your live trading chat room?
Tired of waking up and seeing my stocks down 20% blow right past my stop loss!
Thank u
Thank you for the advice.
Wondering are there any brokers I can use in the UK that people might recommend I investigate? and what do you like about them?
Have you been burned by a broker? After a great month, do your brokers fees hurt your progress?