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Good luck Lucas. There are plenty sites out there to glean from. Here is one that I like. http://perfectstockalert.com/
Simple easy to follow videos.
Im just starting out does anyone have any websites that i can go on and get some good pointers
they were on the grey market first...no shares and no trading
all disapered
Looks more like a suspension from what I could see. If that is the case you still have your shares and hopefully it begins trading again soon.
Excellent! Thank you :)
just by what that stated
I just looked it up and it appears that it is an SEC suspension (temporary). Where do you see that they filed to go private?
nothing like that here is a reply to an investor
hope is not against the board rules
Just got off the phone with Brook. Here is what he said:
1. They are still in full product development.
2. They are about to bring on another advisor to act as a CFO.
3. They are still launching the product this fall.
4. Since they have not yet launched the product, it is still hard to raise funds.
5. The SEC said that since they haven't filed anything recently, MTVO had to file or go private.
6. Even though Brook doesn't have money for audits and filing paperwork, we still own our shares.
7. In the future, they may file again, or they may stay private going forward.
8. Bottom line, we still have our shares.
Hope that is helpful to everyone.
I am not a chartist so someone else will have to chime in on that.
When a stock goes private there is usually a cash value given to shareholders. If you didn't receive anything there may have been some type of corporate action, such as a rev split, that wiped out the current shareholders.
1. Does having a margin account also remove the 3 day settlement restriction for OTC/Pink trades? I know that most brokers consider penny stocks to be non-marginable. However, if I restrict myself to trading within my account balance, will the margin account cover my settlement period and allow me to both buy and sell another OTC stock before the 3 day settlement is over?
There will be NO 3 day restriction if you have a margin account. Doesn't matter if they are otc's or big boards. If you are using your own money and not borrowing you shouldn't have any problem.
2. With a margin account with less than 25k, are only trades that are both bought and sold in the same day counted towards the 3 day-trade limit? For example, lets say I do this:
Monday: Purchase stock A
Tuesday: Purchase stock B, C, and D and sell them all the same day.
Wednesday: Purchase stock D
Thursday: Sell stock D
Friday: Sell stock A
The pattern day trading rule would apply if you purchased the same equity and sold it on the same day. Your example would constitute 3 day trades because on Tuesday you purchased B, C, and D and sold them the same day. They are three different equities so you would have been charged with three daytrades for Tuesday. Doesn't matter if you did all of them in one day. Matters how many you do.
3. If you have a margin account above 25k and get the "Pattern day trader" status, are there no more restrictions? Or does that have its own set of rules?
As long as you stay above 25k you will be fine. No, there are no other restrictions. If you fall below 25k you could get an Equity Maintenance call and they will suspend your account.
2 Chart Questions: What is the best timeframe to use when swing trading? And roughly how many indicators must line up to get a 50%+ success rate (not necessarily a net profit but just that the chart moves in the direction indicated)?
a question for this board
what happen to the shareholders when a ceo decide not to file anymore?
and the sec delisted and they went private?
stock not trading
any recourse?
I have a couple of follow up questions to steven's question:
1. Does having a margin account also remove the 3 day settlement restriction for OTC/Pink trades? I know that most brokers consider penny stocks to be non-marginable. However, if I restrict myself to trading within my account balance, will the margin account cover my settlement period and allow me to both buy and sell another OTC stock before the 3 day settlement is over?
2. With a margin account with less than 25k, are only trades that are both bought and sold in the same day counted towards the 3 day-trade limit? For example, lets say I do this:
Monday: Purchase stock A
Tuesday: Purchase stock B, C, and D and sell them all the same day.
Wednesday: Purchase stock D
Thursday: Sell stock D
Friday: Sell stock A
Would that be ok? And if so, when is the next time I could make a same-day buy/sell? Would it be the following Tuesday?
3. If you have a margin account above 25k and get the "Pattern day trader" status, are there no more restrictions? Or does that have its own set of rules?
Sorry I was typing fast....My experience was that I signed up online and transferred money and started trading pretty quickly with Etrade Pro..then within days of setup...one of their representatives called me and when I was talking with her I asked about pricing for the service and that is when she offered a free trial......just wanted to be more detailed for anybody else that may be new or wondering....thank you...
Thanks. I will give them a call.
You can try Etrade Pro when you are a new investor to Etrade.......they may even give to a free trial period if you talk with them on the phone.....without restrictions.....easy to set up /download /transfer money online....
ETF's, Commodity/Futures, Forex
I am looking for a list of all securities trading options that are available in the markets.
I generally stick to individual stocks but need to expand my investing quite a bit. Having a list of investing options to learn and explore will allow myself and other beginning investors to expand our investing.
Here is what I can think off of the top of my head. Please add to anything that I am missing. Mods, if we can make a list a sticky, that may be helpful for other beginning investors:
* Individual Stocks
* Bonds (State, Municipal, Government, Corporate, Junk)
* REITS (Real Estate Investment Trusts?)
* Mutual Funds
* Options Trading (Calls and Puts)
This is all that I can think of right now.
Thank you Joe and cintrix for the explanations!
It should fill at your price right when the stock hits it. But if it happens that it moves really quickly you could get lucky and it could fill over your price.
Hi Steven: very good questions. I have a margin account for the sole purpose of the 3 day settlement period. Once you sell shares you can then immediately turn around and buy another ticker because of the margin status, it acts as a cash cushion and guarantees the funds for trading. No settlement period wait at all. As far as the Pattern Day Trader Status, it is a totally separate issue. If you make 4 complete turnarounds in a 5 day period you are considered a PDT and your account will be restricted unless you have a minimum balance of 25,000.00. The margin requirements with Scottrade is a 2,000.00 balance, I am fairly sure all the other brokers have the same min requirements to open a margin account. Two totally different requirements for two totally different situations. As far as interest charges, it depends on how aggressive you are at trading and the volume you trade. If your asset value drops below the 2,000.00 level your broker can request additional funds to maintain your margin status.
So do I need a minimum of 25k to not have the 3 day restriction?
No you don't. If you convert your account to a margin account you will no longer have the three day restriction, but you will have the daytrading restriction if you have a balance of under 25k. If your balance is under 25k you have to be careful not to do more than three day trades within a five day period - the fourth roundtrip will trigger a pattern daytrader and you will have a problem. Best scenario is to have a 25k balance in a margin account. If you can't do that be careful how many daytrades you do.
Also if I do purchase with unsettled funds and sell before the settlement date with a margin account am I borrowing money from the broker? So does that mean I would have to pay interest for that loan?
No. Unless you actually go into margin and you see a negative balance - if that is the case then you pay interest. But if you are trading with your own cash - even if it is unsettled - they don't charge you interest. They just use your margin as collateral just in case the trade doesn't clear for some reason.
If I put a sell order at 2.5 and price pops to 3 or 4. Does my sell order process at the 2.5 I requested?
Question regarding margin accounts. So I googled this question and got a few different answers. So currently I have a cash account and it's inconvenient waiting the three days for my funds to settle due to the free ride regulation. I read that by converting the account into a margin account as long as I don't do more than 4 round trips within 5 days I won't get restricted due to day trader status. So do I need a minimum of 25k to not have the 3 day restriction? Also if I do purchase with unsettled funds and sell before the settlement date with a margin account am I borrowing money from the broker? So does that mean I would have to pay interest for that loan? Thanks for answering my questions, I am still learning!
I think that you have to first establish yourself and make that many trades to get it for free. You may be able to pay for it the first quarter. Call them up and ask. I don't know how I could trade without it. So many valuable tools within the platform.
So you have to make that many trades first or can you sign up and get it first and then trade the 30 trades to keep it active?
No it does not require that much money. You just need to do 30 trades per quarter to be eligible.
I have a question about etrade pro. Does it require a 25K balance like scottrade elite? I may switch if it does not require such a large balance. I am not a pro by no means but I like the tools I have seen in videos that have etrade pro. Please advise. Thanks. JC
I don't know if there is a service like that but I would think you are better off looking it up yourself in real time than waiting for them to email you.
If you are making more than 30 trades a quarter you have access to Pro and MT - both of them have top losers and gainers. Along with that Pro has a scanner that you can customize:
The E*TRADE Pro trading platform is available at no additional charge to Pro Elite active trader customers who execute at least 30 stock or options trades during a calendar quarter. To continue receiving access to this platform, you must execute at least 30 stock or options trades by the end of the following calendar quarter.
Thanks Cintrix. I was looking for an email service so I would not have to manually look everyday. However, if looking is the only option right now, I will go with that.
I have an eTrade account so I will check there in addition to the links you provided.
emails them? I don't know of that, but why not just look for yourself?
Any good level II service should provide you with high/lows - I get mine from Etrade Pro and Etrade Market Trader real time - if you don't have access to that try these:
http://www.nasdaq.com/aspx/52-week-high-low.aspx?exchange=NASDAQ&status=LOW#.UV7CATeRc4Q
http://www.barchart.com/stocks/low.php
this one has a filter where you can change the exchange: nasdaq, pink, otc, etc
Does anyone know of a website or service that e-mails you stocks that hit their 52-week lows and / or highs?
When you open a short position you are technically selling so it is at the bid price.
Question. When viewing the trading volume reports on any ticker.. how are short sales listed.. as buys or sells?
Thank you very much. I will check it out.
I am doing my research on trading options too. I have been gathering info for months and I am just about ready to dive in. One of the best persons that I have found to help with understanding how to choose the right stock to play and the best strike price to enter at and the reasons why and when and how to exit with a profit is Cam24Trader. He has a huge selection of videos on YouTube and a huge following. Search YouTube for his name and subscribe, I don't think you will be disappointed. He is a conservative trader and does well. His website is thestockgarage.com he posts a daily watch list that covers penny stocks, big board stocks and options that he trades and that are good setups to trade. Check it out if you want to look at his past watch list and compare them with what actually happened in the market. Also check out
stockhaven.com, they have a live chat room that is free to join where you can get real time trades and setups that are actually being traded at that moment. Good luck with your trading my friend. I am sorry about such a long post but I hope it helps you as much as it did me. Happy trading.
Per the dictionary on Investopedia.com:
http://www.investopedia.com/terms/o/option.asp
Definition of 'Option':
A financial derivative that represents a contract sold by one party (option writer) to another party (option holder). The contract offers the buyer the right, but not the obligation, to buy (call) or sell (put) a security or other financial asset at an agreed-upon price (the strike price) during a certain period of time or on a specific date (exercise date).
Call options give the option to buy at certain price, so the buyer would want the stock to go up.
Put options give the option to sell at a certain price, so the buyer would want the stock to go down.
Investopedia explains 'Option':
Options are extremely versatile securities that can be used in many different ways. Traders use options to speculate, which is a relatively risky practice, while hedgers use options to reduce the risk of holding an asset.
In terms of speculation, option buyers and writers have conflicting views regarding the outlook on the performance of an underlying security.
For example, because the option writer will need to provide the underlying shares in the event that the stock's market price will exceed the strike, an option writer that sells a call option believes that the underlying stock's price will drop relative to the option's strike price during the life of the option, as that is how he or she will reap maximum profit.
This is exactly the opposite outlook of the option buyer. The buyer believes that the underlying stock will rise, because if this happens, the buyer will be able to acquire the stock for a lower price and then sell itfor a profit.
Does anyone know what options are and how they work?
Just an FYI, claytrader has a dvd and I purchased it and he really breaks it down for us newbies, been learning the hard way for a year with not a lot of good results, check it out it seems pretty straight forward. Good Luck!!
As someone who was burned by pennies pretty bad, I suggest to new investors to read, research and do some paper trading for a while.
Penny stocks on the OTC are generally bad news although you may occasionally luck out. Learn all you can about fundamental and technical analysis. Learn about different trading and investing techniques. A good learning series in my opinion is the For Dummies books. I am reading the Technical Analysis for Dummies now.
Very very true Cintrix. Good sound advice. I am toying around with futures with the paper trad system. There is no way to duplicate the points that you bring out using paper. The normal tendency is to be aggressive since you have no real skin in the game. It is a good time to practice self discipline and creating a trading plan.
I'm the one who generally gets up from the poker table, after winning a couple of hands, rather than give it all back to the house!
Then you are already ahead of the game because you are disciplined.
You have answered a huge question for me! I wasn't sure if one of the keys to penny stocks was diversification. I only have the one, and if fortunate with any one, wouldn't dump it all back into others. I'm the one who generally gets up from the poker table, after winning a couple of hands, rather than give it all back to the house!
Thank you both! It's great to have found a source for honest and knowledgeable advice!
Joe C offers good advice. The only thing I would like to comment on what he said is the paper trading advice. That is a good way to get started, but don't ever think that because you are doing really well paper trading that it will carry over into the real world of trading. There are two reasons for this. One is the psychological aspect. When you are trading with fake money you will trade differently no matter what you think. You may put more into a trade than if you were actually trading - you may stay a little longer in a trade because it isn't really your money - you may be more likely to buy something that you might be scared to buy with your own money. The other point is that when you paper trade you are assuming that you are getting your buys and sells where YOU pick them. That doesn't always work that way. Sometimes you know where you want to exit but when you put your order in it doesn't fill and immediately downticks. Same with a buy. You may see something that you go to buy and there are other buyers in front of you and you don't always get your fill where you want it. When you paper trade that doesn't happen. Getting your fill at your price points is another obstacle. Just keep that in mind.
Thank you Joe for your reply. I opened an account about a year ago, and started paper trading, then life kinda took over and I got away from it for a while. I picked it back up recently and started trading with a couple hundred bucks..woohoo! I'm amazed at how little education and sound information is out there. Rather, one is more likely steered towards these promos pumping their latest stock picks! I was looking to make this venture kind of a hobby, and if I make a few bucks..then great! Even trading with the "big dogs" on the NYSE, I would definitely be a very passive trader, so for me..knowledge is key! Any you would like to impart is most appreciated.
The penny stocks seem to offer some sense of comfort in that it allows an investor an opportunity to dabble with little capital
This is true. You could buy up so many more shares with little cash in something than in a big board company, but that is what makes them so dangerous. They attract those who don't have a lot of money in the first place. I suggest you try it out, one stock at a time. Don't over trade (like if you make money, don't immediately - throw it at another penny stock)- take your time.
Lol..thank you. I guess my question did fall under the "duh" section. Being new to this, I want to make sure I'm as educated as possible. The penny stocks seem to offer some sense of comfort in that it allows an investor an opportunity to dabble with little capital, and yet done wisely, one could see some return. I'm probably the smallest micro organism in this ocean right now..lol..and would probably not ever make enough money to become overly confident. Thanks for all your sound advice!
Also I suggest you follow the newbies board, there are a lot of newbies there as well as some very good traders, you can always find great answers there.
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