*** English is not my first language so sorry for the mistake , i hope you'll understand what i'm talking about***
Monday morning i saw that the Marijuana sector was so hot... before the close i decided to buy 10K shares of $MJNA at 0.075 that was spiking near 52-week high at 0.08, i was anticipating a little bit the breakout but all the weed stocks were moving in sympathy so i was sure that $MJNA was able to broke that resistence. After a gap up pre market the stock started to perk up and was trading around 0.08 level. Delayed morning spike and the stock broke the resistance and i was up over $0.01/share which is a nice profit on a low priced stock like that. I decided to hold because i saw a loooooot of support on Level 2. There was a 1M shares buyer at 0.081 that made me fell comfortable.
I was right about that buyer and the stock was so strong and went up to 0.09 that how Tim teaches is a round number and sometimes, round number acts as support or resistance, like in this case. After this climb i saw a big seller on Level2 that was trying to sell over 1M shares at 0.09 (round number!!) . I sold all my shares at 0.088 for a 18% win (+$130) .
Sold all my 10k shares i saw that the profit was $130 (18%win) but SureTrader destroyed this trade taking $160 commission. That's incredible ! How is it possible? I made an awesome percentage and a nice trade but overall i took this loss. Today i'm going to ask what happened to their support. The lesson is to be careful about this OTC low priced stocks because brokers can ate you alive with commissions. However i'm really happy that i made a nice trade without following any gurus. I've heard on some web sites like StockTwits and The Lion that Tim Sykes and his chat manipulates the market and you must be careful when Tim is trading because he can manipulate the market with his followers . That's bullshit ! Tim sold this stock in the $0.08 range and it went up to $0.09 so all this haters are full of bs.
Congrats to everybody who is profiting with this weed stocks!
Do you just call and ask for lower commission fees?
Told them i trade way more than 15 times or ao a quarter and needed a better comm structure
@Arussell125 thanks man, Ill give them a call
Did you ever figure out this issue? I don't see how your commissions were $160? 4.95/trade x2 is $10 + $30 ECN fees = ~$40 in commissions. What else were you charged? I have been using them for a couple of weeks now and agree with Arick that you need to win a bit bigger to cover the costs of trading with them. I too have had greed days that turn into red days because of fees. Sucks, but part of the game of getting around PDT. Hope things have gotten better for you since this!
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