Must have pissed off the market maker, because they essentially eliminated all my gains from today trading in MGT on Paper Money by fixing the price on the "Market" so that I was high on a buy, and low on sales. End result, I lost all my profits, and ended up owing for all the brokerage fees. The problem is that it is difficult to get a good price on limit sales. The market just doesn't allow fast trades. MGT was hot, it went up to almost 5.00 a share so if I had been able to get a good price I would have made a reasonable profit, but you pay for pissing off the market maker I guess.
Posted May 17, 16 11:49 AMbygrysmith
Categories
Basics, Classic Lessons, Price Action: Breakouts, Price Action: Morning Spikes, Smallcap, Technology Stocks, Trading Mistakes
Tickers
MGT
@grysmith what broker are you using? they should have software navigation tutorials, youtube also helps
Paper Money is by think or swim which is TD Ameritrade
@grysmith I know TOS has tutorial videos. It's definitely a good idea to run through those before funding the account up. you don't want that kinda of mistake to happen with money on the line.
yeah I guess that is true.
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