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Venom
Venom Feb 25, 16 2:40 PM

It's the same principle. When you're shorting a stock, you want the highest price possible that you can get. The limit, then, is the minimum price that you would sell it for or higher.

kapitalist91
kapitalist91 Feb 26, 16 5:24 AM

so if a stock is trading at 10 and i want to short it i should aim to get a higher "limit order- sell" ? for an example in this case 12? i think i dont get what you mean and would appreciate it if you could describe a scenario where you explanation could make more sense to me

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Ike
Ike Feb 23, 16 5:29 PM

@JLLOYD thanks

kapitalist91
kapitalist91 Feb 23, 16 6:04 PM

i think eyes is going to be on hbo vice it might increase the price much more

Giants_Slayer
1
Giants_Slayer Feb 23, 16 6:05 PM

nice trade .. but i will look for a short tomorrow if it goes red and then risking r/g level .. this is my plan for tomorrow .. yours also good as long as you have a nice entry and you already locked in some profits so you can risk the in-house money .. great trade bro .. thanks for sharing your ideas ;)

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kapitalist91
kapitalist91 Feb 24, 16 4:59 AM

wich one is better robinhood or suretrader if you are starting out with 1k and want to reach 2-3 k to go with etrade.

cshields
cshields Feb 24, 16 9:57 AM

@Sergious That was actually my other mistake, I set my mental stop loss at 1.08 and held on. I should have cut it as soon as it hit 1.08. But lesson learned! :)

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kapitalist91
kapitalist91 Feb 23, 16 5:59 PM

ok but how much money do you need to start with etrade, and to be able to short stocks? and does suretrader have patter day trading rule, how do you go around that?

TraderH
TraderH Feb 23, 16 8:07 PM

If you want to short stocks, you need a margin account. Most brokers require 2k to open a margin account. However 2k is the absolute minimum. To be realistic you need 10k to trade but you could get away with 5k. Anything less and you'll likely lose everything to commissions and mistakes. It's better to study first, save up the money, and then trade later.

TraderH
TraderH Feb 23, 16 8:14 PM

If you're American and want to get around the PDT rule, the most common methods are: 1) Hold equity stocks at least 1 day overnight (see Tim's videos) 2)Open an account overseas (which I do not recommend) 3) Save up the money and meet the PDT requirement or 4) Day trade futures.

mrcfunds
mrcfunds Feb 25, 16 7:41 PM

Thank you all for your comments....I am trying to figure out where and how to start the Tim Sykes system without purchasing hundreds of dollars in products….. before I know whether or not I can do Tim's system… been there done that...so, should I follow the posted watch list? but there are so many to choose from! Any recommendation?...I am a semi-advanced trader...but new to Tim’s system but I am very interested in learning to trade this system...all help and direction is greatly appreciated...

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kapitalist91
kapitalist91 Feb 23, 16 2:38 PM

i believe that you need to have a good amount of education before playing the market, and i need to know what the education cost will be for a beginner.

rmxpfan
rmxpfan Feb 23, 16 6:43 PM

first of all I am not Tim's challenge student, I bought the 2 DVDs during holiday sales, that's $299 (HTMM) + $199 (pennystocking), also took advantages for annual subs for this site for $300, but I gained back more than half of my lost account as well as those expenses during last 2 months

rmxpfan
rmxpfan Feb 23, 16 6:48 PM

also you need at least $2500 to open the margin account @etrade other places requires like 10k at interactive trader, so etrade is the best place to start bc you can't long all the time, need to short to become flexible, for more key details I suggest start w pennystocking (6hrs) and then more comprehensive HTMM (30+hrs). So in total you need at least 3grand to start.

rmxpfan
rmxpfan Feb 23, 16 6:50 PM

extra $500 is for cushion in case of inevitable loss from trade

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Aromo
1
Aromo Feb 22, 16 5:20 PM

so if i buy a stock at 10 with limit order and then it goes up at 11 and i want to sell it wich order type should i use limit or market? for this you should use Level 2, so you can actually see if there´s someone willing to pay 11 for the stock. if there´s someone you can use limit, if you want to sell it inmediately you can sell it at market price and it will be sold to the higher bider (not always the price you want)

yasturk23
1
yasturk23 Feb 22, 16 6:46 PM

thank you for your input Roma

kapitalist91
kapitalist91 Feb 23, 16 7:18 AM

thanks roma i get it now, but how do i use these two order types when i am shorting stock?

Aromo
Aromo Feb 23, 16 9:16 AM

no worries bro, sorry if my english is not perfect haha, for shorting stock its exactly the same, when you want to borrow a stock, you can put limit order to sell it at the highest price possible (but it will only activate if last price reaches that price) or you can sell it at market (which you can use level 2) when it´s time to bought it back it´s the same process, is it clearer now?

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