Hi.

I have purchased Ken Roberts TWMPMM1 and TWMPMM2 courses for trading commidities and they are great. I would now like to purchase his Ted Warren stock market course.

The only thing I really don't like are limit orders. One out of my three commodity limit orders has been filled. So, I have two questions:

1) Does the Ted Warren course recommend you place limit orders?

2) Would you please share your experiences placing limit orders?


Thanks, from a newbie.
shutter@pressroom.com

Cole, I think the practical application would be to identify the base of the stock you are looking at (you'll understand this when you get the course), pick the break out point that you feel confirms a break out, have a stop order to buy GTC in place and then just let things happen. I've heard that GTC in the stock market means only for a couple of months, so you'll have to continue to check your orders unlike the futures markets.

Anyone else? I haven't actually traded stocks yet ... in the process of moving my IRA to a totally self directed stock account ... scary

dc

Thanks.

It has cost me a lot of money to develop my opinion of limit orders. I never place an on-line order without them. Too many times I placed a market order at night only to have a surge in the market the next day and while I'm at work my order goes through for $1+ over what I planned on. I always place buy limit orders, AON (all or none), GTC (good until canceled). This way I know what my entry price is or less. When I set sell stops for a fast riser its a sell stop AON GTC. For a slow riser; sell stop limit AON GTC. This is working well for me. The AON keeps my larger orders from being picked at by micro investors. I learned this one time when I sold 10,000 at 3/8 and had a micro investor pick off 30 shares. It cost me a $13 commission.

Thanks Chuck for the ordering words of wisdom.

dc