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{THE INCORRECT} Brokers
I still get {A great deal of} daily questions {concerning the} best/worst brokers {therefore i} am writing {this website} post {to stay} everything {forever}! {To assist you} avoid using {the incorrect} brokers!
Download a PDF version {because of this} post.
Despite my posting this video {this past year} of {the only real} 2 brokers I’m using in 2016:
Sadly, {deciding on the best|selecting the most appropriate} broker {isn’t just} about finding one with good commissions, software, executions, {customer support}, borrows, low minimums like {way too many} people believe…unfortunately {for all those}, {the road} to {finding the right} broker {is really a} {little more} complicated so pay close attention.
Questions, Questions & More Questions!
{Last week} I answered 20 FAQs here {and you may|and you will|and you could} {visit a} common theme among questions I get asked {such as for example}
- “What’s {minimal} {period of time} {I could} study {but still} {achieve success}?”
- “{Can you} guarantee profits {easily} study your lessons?”
- “What’s {minimal} {level of|quantity of} intelligence {would have to be} a millionaire?”
OK, OK, that last question was {composed}, but it’s utterly pathetic that {A lot of people} want to {make money} and “become my next millionaire student” {investing in} the {smallest amount} {when it comes to|with regards to} {time and money} spent when {actually} your outlook {ought to be the} opposite.
Read that full article here, it’s worth {your time and effort}.
EVERYONE {really wants to} {achieve success}, but {have you any idea|are you aware} what so few {do}?
Because it’s damn {effort} and even {in the event that you} put in {a huge amount of} {effort}, you’re STILL not guaranteed seven-figure profits and great success.
Sure, sure, {I’ve} several millionaire trading challenge students who now help mentor other trading challenge students too, and {a large number of} students earning five and six figures/year** in this industry where 90%+ continually lose, but before {fretting about} {the proper} broker and how “little” money {you’ll} risk {for the reason that} account, {you must have} {the proper} mindset {moving in} or else {the complete} journey is worthless {and you also} waste my time {that i} {won’t} allow.
Sadly, {way too many} people only want hot stock picks {rather than} {devote} the incredible {timeframe} {necessary to} study {and also} invest in {their very own} education/knowledge…that’s a surefire {solution to} becoming {section of the|area of the|portion of the} 90% of losers {on the market}.
I don’t want that and hopefully, you don’t want that either.
{Along with} {getting the} right mindset, {you ought to know} of the risks – my rule #1 out of 100+ rules {here is} to cut losses quickly, a rule my top millionaire challenge students and {I’ve} gotten better and better at following/being disciplined, as even on {your day} of the scariest short squeeze {previously|during the past} decade on KBIO which went from $2 to $10+ {in a single} after-hours session both my first millionaire trading challenge student and I were short big and we each lost {just a few} thousand dollars** {because so many} others who {didn’t} follow this rule lost six and seven figures), but sometimes, these crazy stocks we trade move faster than {we are able to} execute our orders, {regardless of what} broker, prop firm or hedge fund we use, {if you} {enter} this game, {anticipate to} lose EVERYTHING!
That’s {the chance} so you {should be aware} of it…but {on the other hand}, life is risky, even mutual funds {that have been} {regarded as} so safe, lost 40-60% {of these} value {just a couple of|just a couple|a few|only a few} {years back}. So {cope with} it and accept it.
Also, some brokers, especially off-shore brokers and prop firms and hedge funds and {all of the} sketchy, small firms {on the market}, sometimes have terrible executions so {even though you} {devote} an order {to attempt to} “cut losses quickly”, {you can find} screwed by your broker, prop firm, hedge fund and {do you know what}?
It’s {not just a} coincidence…that’s {what sort of} {large amount of} sketchy/small firms make their money, by screwing over their customers!
{Have a look at} this video warning {concerning the} most dangerous broker {I understand} of:
Welcome to Wall Street where I remind you 90%+ of traders lose , {and also} in bull markets, 70% of stocks {decrease} every year…it’s best you {be familiar with} these stats BEFORE risking {your dollars}.
And let’s say {there exists a} good broker, prop firm, hedge fund {on the market} that {really wants to} do right by its customers, companies with big hearts…well, big hearts often die ugly deaths on Wall Street, {quite often} these do-gooders go bust {no} matter {how big is} their hearts or quality {of these} service, {your cash} can be {tangled up} for months, {as well as} years, and it’s {only a} messy situation, although if the startup is US based, if it’s offshore you’re {just about|virtually} screwed….{even while} you’re {passing up on} potential solid plays every damn day.
Did I scare you away yet?
{If that’s the case}, it’s {to get the best|to find the best} {among the} main {great things about} my being real {within an} industry {filled with} snake oil salesmen is that I {reach} choose my students and I don’t {have to} BS {you prefer} so {numerous others} will. {In case you have|For those who have|When you have|Should you have} any doubts or you’re {uncertain} about trading my strategy, don’t waste my time or yours, just close my website now and {get back to} your safe, but boring 9-5 job and likely {bid farewell to} any big dreams you’ve ever had…that’s fine…for {many people}.
{Some individuals} say {easily} was nicer, {I possibly could} have {far more} students, but I don’t want {far more} students, I’m already overwhelmed…and I’m not here to be your friend, I’m here to be your mentor {also to} {assist you to} learn and profit, {those people who are} overly nice usually don’t prepare their students for the ugliness of trading and Wall Street and their “friends” get crushed as a result…not on my watch…you can call me a jerk {all you have to}, that’s fine, {I could} {go on it}, I’m here to see my students succeed, not win a contest {on how best to} {function as} most polite/politically correct.
I’ve been trading {for pretty much} {twenty years} so I’ve seen {all sorts of} scams, shams, {alongside} quality brokers, good people, and everything {among} and I’ll {let you know} right now {with this particular} market just 4 days ago {turning out to be} {the next} longest bull market {ever sold}, winter is coming…so {then you’ve got to} {prepare yourself}.
I’m not saying we’re definitely heading {right into a} bear market, if it happens, that’s cool, my strategy actually does better in bear market, but I’m prepared {in any event}.
{Most of all}, I’m secure with {where in fact the} money I trade stocks with {has been} held.
It’s {time and energy to} buckle down, look at where {your cash} is and {consider} how safe that place is {and discover} {methods to} trade safely, {most of all} right now {I believe} it’s GOOD to be OVERLY conservative and put yourself {able to} ride out {all of the} potential dangers {coming}.
Who {I TAKE ADVANTAGE OF} as my Brokers
I’m not {likely to} get into {those} dangers or {all of the} brokers {I believe} {more likely to} close or collapse; {I possibly could} write {a complete} book and probably still not be accurate {in regards to what} actually does vs doesn’t play out, {also it} {usually takes} years {for all your} risks to become reality little {not the same as} the upcoming war in Game Of Thrones, but I’ll {let you know} it’s not random that I went with E*Trade and Interactive Brokers as my brokers {this season} as both are multi-billion dollar companies and in a brokerage industry {filled up with} potential risks, {they are} safe choices {at the very least} {for me personally} and my money.
No off-shore accounts, no hedge fund brokers, no prop firms, no startup brokers, no small brokers with {hardly any} cash {readily available}, {only a small amount} danger and risk {as you possibly can} is my motto for 2016 and {another} {couple of years} too…and Interactive Brokers {whilst having} {a few of the} worst {customer support} I’ve ever experienced {is most beneficial} for shorting stocks under $2/share and {I take advantage of} E*trade for stocks over $2/share despite them sadly limiting themselves to only accepting {folks from} certain countries {rather than} others.
I’m sorry {for all your} negatives {connected with} each, I don’t {work with} them, I don’t {receives a commission} by them, I’m {no} affiliate, {I simply} {utilize them} as my safety brokers in this dangerous environment {since when} the shit hits the fan, I still want {in order to} trade as that’s {once the} best trading opportunities show themselves…when {everybody else} is panicking.
{You almost certainly} don’t remember when this scumbag took {lots of|plenty of} his customers’ money when his prop firm {turn off} {unexpectedly}, and from what I hear, many STILL haven’t gotten their {cash back}, but {I really do} and I don’t {desire to} {note that} happening to ANYONE again…I lost several students that day {because of} no fault {of these} own, only {since they} were too trusting of a sketchy prop firm.
I don’t trust ANY prop firms, off-shore brokers, hedge fund brokers, startup brokers {as well as} on-shore brokers {which are} just small and don’t have {lots of|plenty of} excess capital…I’ve tried {almost every} broker {around} on my {seek out} finding shares to {lacking} penny stock pumps and I’ve {arrived at} the realization that putting my money into and trusting ANY questionable firm just isn’t worth {the chance}.
(Besides shorting hasn’t been as amazing as buying {a few of these} Supernovas like PRGN, GLBS, ULTR lately!)
{I understand}, I know, {all of this} {discuss} risk and safety {from the} seemingly risky penny stock day-trader/short seller who {has recently} turned $12,000 into $40,000 in 2016** in a basically flat/unchanged overall must sound crazy, but {when i} often say in DVDs, video lessons and webinars, I’m the safest, most cowardly trader {on the market} and somehow I still have made millions from trading {and today} {you can observe|you can view} in real-time {when i} exponentially grow my account {because of} incredible days {such as this} below so ignore me and my warning about dangerous brokers at {your personal} risk…
{That you can do|That can be done} whatever you {as with} {your cash}, that’s {the wonder} of my educational business, I’m {not just a} financial advisor, I’m {not just a} broker, I don’t {desire to} touch your trading account at all…I’m just here {for a few} hopefully helpful guidance {also to} share my experience so if you’ve read this whole {post}, {please contemplate} yourself warned and I’ve done my job for today.