He's whining. If he wants to continue to use E-Trade and is unhappy with his market fills because of some delay, then use LIMIT orders.
Do Rich people have accounts with retail brokers like Ameritrade or E*trade ?
- Thread starter trader45hf
- Start date
He's whining. If he wants to continue to use E-Trade and is unhappy with his market fills because of some delay, then use LIMIT orders.
Sometimes a market order is necessary. If bars are closing on their highs or lows it's prudent to buy the market order. Having your broker hold your order so they get free gibs from MM's isn't. That's exactly what happened here, especially if you listen to the phone call between him and Etrade. If I buy a market order and Etrade waits 20 seconds to fill it at a price far outside the Bid/ Ask price I would be pissed off as well. Expecting someone to just be cool with this type of practice and use a different kind of order is disingenuous. If you listened to the call he states he will not be using Etrade because of this issue. There's nothing wrong with him pointing this type of practice out to the general public so they can make an informed decision on using a broker. I find it weird anyone would think so.
I would never open 3 different trading platforms and place trades on the same computer system.
Instead, best to have one broker / front end trade execution platform on one computer and the others on a different computer system.
I've seen platforms become sluggish in response when there's another platform open at the same time on the same computer system.
wrbtrader
IMHO Its overkill. 100MBPS is about 95MBPS more than needed for scalping. Of course if your gonna go for overkill, investing in technology isnt the worst thing you could over do. But dont fall for the hype either.
I use a software, that does the two most important things for my trading, gets me the **** IN & gets me the **** OUT nano seconds. It also uses under 20mb of RAM. I have another Software with tons of bells & whistles and useless (for me) technical stuff & can even watch tv yo! But I dont agree that an i7 processor, & even over 16gigs of ram is "necessary" just IMHO. Even running some of the more popular heavy software. If I need to invest +$1,500 in hardware to use their free software it kind of defeats the "free" purpose, Id rather just get a Bloomberg Terminal at that point.
My broker also has a great reputation.
plus when they claim they have more business than they can manage and wreck peoples orders, how is that my worry? Some of these brokers have literally admitted that their servers couldnt handle the orders yet you are using the old excuse its customers hardware? (who do you work for? :O) why would a reputable broker not alert me my hardware is insufficient before letting me start to press buttons with their money (credit) on the line,
As if daytrading wasnt hard enough, I dont care if its being advertised as "free" they still have to do their ****ing job and keep their side of the deal, and you know BROKER the orders or at least give fair warning its beyond their capacity
just IMHO
also there is a gentleman that is a member of the forums here. His brokerage actually alerted their clients when the NYSExchange was having difficulties. They actually gave enough of a f*** to send an alert to their clients. (my friends who use them told me) They may not have fancy ads on major networks but who knows how much money they saved their clients that day with a 10 second alert.
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Exactly, open a task manager to see how much data the platform is actually using, most will be surprised how little it is.
The problem is it shows when he placed his order and when they filled his order. To add insult to injury they told him they held it that long for his own good because it might have gotten a better price. Instead they filled it at a price 20% to 30% higher. The broker should not be trading their strategy. The broker should be trading the traders strategy. They have no business trying to fill it when they think it could get better. That's not how a market order works. Their job is to fill it as soon as the order is placed. Not 15 seconds later.
He claims to have been trading Boxlight Corporation (BOXL), a penny stock, from four different platforms at the same time from the same computer while recording a video for his trading room. And for the trades he's complaining about he said he had a status window minimized! So we should sign up for his trading room and courses with the goal of imitating his style?
It's hard to believe anyone would follow him after seeing that.
I daytrade penny stocks after premarket gap ups all the time and make hundreds to thousands in a few hours doing it. I wouldn't sign up for his course. I don't need to. The point is that his trade is irrelevant. He confirmed the trades and times in his conversation with Etrade. The point is the trades happened and the broker didn't uphold their entire purpose, to honor the trade that was assigned. If I place a market order I place it with the risk I could get it filled at the worst possible price AT THAT TIME. Since when is a broker supposed to decide for me that perhaps they can get it at a better price if they just wait 15 seconds? Is that how a market order works? No it is not. That's what it boils down to. The brokers ONLY contractual obligation is to make the trade the trader executed, not take the traders funds and decide to trade it because they think they can do better. How would you like it if your broker did that to you after you executed a trade at a better price and you lost 20% to 30%?
He's an artfag with a manbun that has transitioned to trading. The guy didn't need to be an anti-shill for E-trade.
*Whine* Like, ohmeGAWD my market order was Pending, I didn't think to do anything else but keep clicking the BUY button, *lisping* Now I am in for 8,000 shares, ohmuGAWD. I mean, I click buy 3,000 twice, that equals 6,000, so I then try two 1,000 orders, and I just don't know, my GAWD, why I am in for eight thousandsth *lisp*
This place is turning into a liberal shithole that sounds like a bunch of 15 year olds attacking the messenger rather than the guys message because facts aren't on their side. That's exactly how liberals operate. I dont like your message so I'll either destroy you or not allow your message. In this case it's the YouTuber.
Who cares if you dont like how he looks or what he trades. His point still stands and the most retarded aspect of it was saying dont trade a legitimate market order. Use something else. Nevermind the broker is the one in the wrong.
Who cares if you dont like how he looks or what he trades. His point still stands and the most retarded aspect of it was saying dont trade a legitimate market order. Use something else. Nevermind the broker is the one in the wrong.