Can you put some numbers to the story (not $$ amount), but perhaps what your limit order was and how much off that number the broker came back with at the end of the day?
Took break from trading, but I know you cannot give up
- Thread starter Make Dough Repeat
- Start date
Can you put some numbers to the story (not $$ amount), but perhaps what your limit order was and how much off that number the broker came back with at the end of the day?
Robert Morse
Sponsor
The error should have been more timely than the end of day. I was a floor official on the AMEX and we had time constraints.
https://www.nyse.com/publicdocs/nyse/markets/nyse-arca/NYSE Arca Rule 7.10.pdf
Ding ding ding. We have a winner!
1.5 BILLION shares of stock float? You're wasted to think investing in a pink-sheeter like that is a good idea. In fact, all OTC is a wasted idea. You can find a perfect example of what a pink-sheet stock is like if you just look at "crowd-funding".
You're giving money to person A who says they are going to do thing B, and will give you a return on thing B. Person A then says, "Sorry, thing B did not work out. So long and thanks for all the fish (what you invested in thing B.) Sincerely, person A. (Buh-bye)"
Taking a break from trading sounds healthy, there's hookers and booze and coke in life too ya know 
Seriously, what you are trying to accomplish can be seen as predatory practice to some degree. Getting majorly rich quickly, quickly leads to getting screwed over majorly. There's all kinds of circuit breakers, maintenance and monitoring going on in order to prevent price from running too fast. Otherwise, it'd all come crashing down or jump all over the place. In fact, you can still see it in some EOD-data that this has been a problem in the past.
Seriously, what you are trying to accomplish can be seen as predatory practice to some degree. Getting majorly rich quickly, quickly leads to getting screwed over majorly. There's all kinds of circuit breakers, maintenance and monitoring going on in order to prevent price from running too fast. Otherwise, it'd all come crashing down or jump all over the place. In fact, you can still see it in some EOD-data that this has been a problem in the past.
I definitely used to think this too. But when I saw a "master" type touting them, I thought maybe this way of thinking has changed. For example, MCOA still manages to trade with some serious volume, so I don't see the issue with OTC when the issue has volume. Am I completely wrong??
Give it a shot. What is the worst that can happen? Oh, you can lose your entire investment in a day when the company abruptly shuts down and de-lists. *shrugs*
Happy trading!
OK, so OTC should not be traded in your opinion? Do you stick to the higher priced stuff? I used to only trade stocks with 500K vol and priced above 5. But now that I am getting back into it, I have been turned on to the sub dollar stuff with volume. Seems like it's a disaster waiting to happen. Was stalking a different marijuana last week (another marijuana play) and of course I didn't buy. Next day went up 33%... Anyway take a look at MCOA on the weekly and you can see why I thought it's interesting. To me it looks similiar to how I would trade a non-otc stock. Any thoughts on my charting? Or avoid at all costs?!
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You were up $3mln? On an account size of what... 10k? Pretty obvious that that was a mistrade...
Although, you sure seem to pick your stocks... what the hell is DRYS? They were trading at an equivalent price of about 1,500,000 a while back... so they have reversed-split the shit out of that....
Although, you sure seem to pick your stocks... what the hell is DRYS? They were trading at an equivalent price of about 1,500,000 a while back... so they have reversed-split the shit out of that....