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I called E*TRADE to complain about terrible order execution!

October 26, 2019 15:00

Curious about my trades❓❓ If you have questions πŸ€·β€β™‚οΈπŸ‘¨β€πŸ’»πŸ˜‰β“β“ ask them below!Β  I respond to every question posted on my channel. You're 7 Steps away from Becoming a Day Trader 1. Your first big step to becoming a day trader in less than 90 days πŸ“† ⏰ is to register for my next FREE Day Trading Webinar πŸ“½πŸ“Ί πŸ‘¨β€πŸ« When you register, you'll get a free digital copy of my best-selling book (best-seller on Amazon) titled "How to Day Trade" πŸ“š - 2.Β  Aren't you sick of the PDT rule? ❌🚫 I know I am! Check out my preferred stock broker for small day trading accounts of less than $5k that are Day Trader FRIENDLY πŸ†πŸ₯‡ - 3. Don’t understand the lingo? πŸˆ΅πŸ’±πŸˆ³πŸˆ―οΈ Learn the most important day trading terms & definitions on this page here - 4. Have you ever wondered how much a day trader can make?Β  I just uploaded my verified βœ… broker statements showing how I turned LESS THAN $1000 and turned it into over $1mil πŸ’΅πŸ’° in trading profits πŸ‘€ - 5. Okay, so I make money...But here's the big question, do any of my students make money?Β  Check out this student success story about John's path to making over $500k πŸ’°πŸ’΅ since he learned to trade my momentum day trading strategies - 6. Are you ready to take the LEAP? πŸ€Ύβ€β™‚οΈπŸ€Έβ€β™‚οΈΒ  You can watch me trading every morning as a member of our day trading chat room. πŸ‘¨β€πŸ’»πŸ‘©β€πŸ’»πŸ–₯ - 7. How many monitors is too many monitors?Β  Check out this video here on setting up your first day trading station πŸŽ™πŸŽ›βŒ¨οΈπŸ•ΉπŸ–₯πŸ–₯πŸ–₯πŸ“  - I called Etrade about my market orders that took forever to fill and, after being on hold for what seemed like almost an hour I was told that there was nothing they could do to help me. Here is that call. The response from Etrade on my 3 market orders were that market orders on low volume stocks get flagged. They want to prevent 1 order from moving the market, or maniuplating the market. So those 2 orders were flagged, then approved. By the time they were approved, the stock was alrady up 15-20 cents, and I got filled much higher than I expected. The limit orders I placed both for 1k shares were filled instantly at 2.68. My sell order for 8k shares was the worst, and it took about 31 seconds to execute. In my opinion, this system caused me to lose money on bad fills both buying and selling. A system designed to potentially protect me, hurt me. The big takeaway is to never use a market order on a small cap/low volume stock with Etrade. However, using a market order with TD Ameritrade did work, and my order executed instantly. Another challenge on this day for me was trying to trade in 4 accounts. It's not easy at all, and the net result was a big loss on this stock. Had I gotten a good fill on Etrade, I migth have been able to make a small profit there, a base hit, while my main accounts where I was swinging for a home run would have probably still been losers. I appreciate the customer support member at Etrade chatting with me. I'm sure they get people complaining about this type of thing all the time. The result of his broker comparison video is that Etrade is not suitable for small cap strategy if using market orders. Disclaimer:

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