Why The Heck Wasn’t My Order Ful-filled? Slippage Can Cost You Money…

Why The Heck Wasn’t My Order Ful-filled? Slippage Can Cost You Money…


– So in this video we’re
gonna talk about slippage. It really matters when you’re trading these hot penny stocks, stayed tuned. (upbeat music) What’s up, Tim Sykes, millionaire, mentor and trader here answering your questions. I love getting all these questions. I just film these videos
and I try to help you. And it helps myself too ’cause I get, frankly, too many questions, the same ones over and
over and over again. Click the link just below, I’m gonna give you a very cool book. The link is gonna change your life. This one book has all of my
most important rules in it. It’s called “The Complete
Penny Stock Course”. If you’ve already read it, read it again. If you have it in paperback, get it on Kindle. If you have it on Kindle, get it in paperback. If you have it in Kindle and paperback, get it on Google Play. It is so, so, so useful. You need to have this
knowledge before your risk your hard earned money. Today’s question is when is there slippage, like when you put in your order and maybe you don’t get filled
or you put in your order and you get a really bad fill? That’s bad, that costs you money, right, that’s slippage. Also enter a comment underneath here, have you ever put in an order before, yes or no? I’m just curious to see how
many of you guys are trading, whether it’s an order for a
1,000 shares or a 100 shares, have you ever entered a stock order? I’m curious and you have
two choices when you put in an order, market order or limit order. If you’ve read my book, if you’ve seen my video lessons and DVDs you know never to use market orders. No stock is ever good
enough or so amazing enough that I need to just say, hey, to the market, I’ll buy in at any price. No, you have to use specific limits. If a stock blows through that limit, if it goes up too fast I’m fine, I’m fine, willing to miss it, okay. If you’re willing to miss a trade that’s actually a good thing because it makes you more conservative. Too many people are too aggressive. They get so excited about
a pattern or some news or a stock and they’re just like, I’m gonna buy it at any price. I can’t wait, let me do this, market order. And I know a terrible
broker like Robin Hood uses market orders. You save like like five
or $10 on commissions and then you lose hundreds of dollars on a terrible execution. It doesn’t make it good. Watch out for those schemes. Watch out for market orders. So for me I use limit orders but then again that begs a question, what if the stock blows through it, if you’re trying to buy a
stock and it goes too high? What if you’re trying to sell
a stock and you put a limit and it blows right through
it and then what do you do? I get this message all the
time from people saying, “Hey Tim, I’m trying to
follow rule number one “and cut losses quickly but
I can’t cut losses quickly “because the stock is moving too fast.” You have to be more
prepared ahead of time. If you’re trading a very volatile stock, which we trade penny
stocks, they’re volatile, you need to be anticipating
the stock could blow through your limit and then
you need a backup plan. It’s all about planning, okay, I never want you to just
sit there with your money on the line sitting there
like a deer in headlights being like I don’t know what to do, I don’t know what to do, the stock is moving. I’m losing more. I’m losing more. Oh my God. Or even if you’re making
money and you’re like, oh my God, I’m making so much money what do I do? Do I hold? Do I sell? What do I do? Oh my God. You need to take emotion away from this as much as possible. Obviously we’re all human
so there’s gonna be emotion but if you have a plan and a
backup plan that usually helps. So for me, I’ll give you an example. This morning I made about $1,500
before I filmed this video. I was in this stock overnight from $2,90. It had closed at like $3,10. WNDW was the play. It was gapping up a little
bit but not that much. There were other stocks that were falling. A lot of momentum stocks
yesterday were spiking into the close so I was in one of them. The other ones were all down 15, 20% to start. Mine was kind of unchanged, maybe up a little. But because those other ones were down that made me more conservative. If other ones kept spiking then I might be more aggressive today
but already I’m thinking about the other stocks and I’m thinking about how that’s gonna impact my play. Because often times you have these days where all the morning spikers just fail, for whatever reason, and you have to accept that. So when the stock opened
it was $3,18 by $3,19. Remember, I’m in at 2,90, so I’m up 20, 30 cents a share, roughly 10% on my overnight
position of 5,000 shares. That’s a good profit, okay, that’s how I make a 1,000, 1,500 a day. 1,000, 1,500 a day
keeps the real job away. So for me, I don’t care whether I’m selling it at 3,18, $3,20, $3,15 or even $3,10. I just wanna lock in the
profits because the other stocks are not spiking and in
case you ever follow me like on a first green day, I’m usually selling the very next morning. You follow my rules, this is like one of my classic patterns. So when the other stocks are not spiking, in fact, dipping quite a bit I’m thinking about selling this one. So what do I put my limit at? Remember, I’m not using my market order. I don’t trust these market orders. I’m trading in OTC stock where
there could be some slippage. Slippage is like where you put in a price and the stock moves too
fast and then maybe you get it executed at a different price. Wow, that price just
slipped like seven cents. So at 3,18 I obviously wanna sell it ’cause there’s a buyer there
right at the market open. But I don’t know if I’m gonna get $3,18. So I don’t care whether
I sell at 3,18 or not. I put my limit at $3,10 because
there’s also some bidders at 3,16, 3,15, 3,12 and 3,11. So I figure if I sell it at
3,10 I still make 20 cents, or that I make 20 or 28 cents a share, it doesn’t matter. I’m willing to give it a little time. The good news is I got filled
right near the market open, sold it at 3,18, presto, chango, very easy. Right now as we’re filming this the stock is hanging around three. So I’d still be up but again, I don’t care about those
eight cents a share. I gave the market maker a little leeway of eight cents a share just in
case the stock was gonna dip. If it did dip to, let’s say, 3,10 and I
still hadn’t been filled I probably would change it. If let’s say it was at 3,12
and in the first few minutes I’m still not getting filled on OTCs, I have enough preparation, I haven enough experience
knowing that OTCs are a little tougher to get executed. So if it is fading 3,12, 3,11, 3,10 and I’m not getting executed I’m not waiting for the
bid to take out 3,10, I’m changing my order to a limit of three just so that I protect. If you’re in a trade overnight, again, for me I don’t care
whether I make 30 cents, 20 cents or 10 cents, I’m just trying to lock in the gains. The other stocks that I was
thinking about going long overnight were down 10, 15, 20%. So for me to even be up or
for me to even break even I chose the right play but
I just need to lock that in. This is what I think a lot
of you guys need to do. You need to think not in
terms of how much money you’re gonna make overall
but just trying to capture the meat of the move. And whether you have a few cents
a share of slippage or not, it’s okay because these
are fast moving stocks and you need to learn to lock it in. So for me it’s about being
better safe than sorry. So I’m almost always using
an extra few cents a share and you have to judge each stock, what is the slippage potential? With OTCs, when you’re selling, especially near the market open, especially on as stock, the stock was up 50% yesterday. So the first green days
theoretically it should have been a bigger gap up. It should have had some
nice buyers but it didn’t because the whole momentum
market is kind of stalled today. So I accept that reality
and I put in my order. If those other stocks, let’s say, were up 20, 30% and this one was
gapping up I might give it a few extra seconds, a few extra minutes to see
if it can morning spike. So there’s no one right answer like should I always use
my limit order seven cents below the current price? You have to judge what
the market is doing, what you think this stock is gonna do and then you put your best guess. Just don’t try to necessarily
get the exact price that a stock is at. I find a lot of people, they don’t wanna give
up even a penny or two. So if they wanna sell at
$3,18 in this example, they’ll put their limit at 3,17 and they’ll be like, I’m capturing all my money. And then the stock busts
through their limit and then they have no backup plan. So for me, I want to give it a few
cents a share of slippage. It’s okay, just try to
lock in the profits. And if you’re in a stock that’s fading and you’re trying to cut losses, especially if it’s a volatile stock you wanna cut losses quickly, you cannot just put yourself
at the market with no plan. Always have a plan. Consider the different
options and trust me, it gets easier over time. Experience pays the most so
you need to keep learning. If you’re not ready to
trade with real money, these stocks move fast, use stocks to trade paper money, okay. I’m gonna include a link. I’m gonna include a
special offer just below if you wanna use stocks to
trade and that way you can test and you can practice, cheers. Hey, Tim Sykes, millionaire, mentor and trader. Thank you for watching my videos. I hope that they help you. I wanna share everything that I’ve learned over the years. You can check out more
videos right over there and also click subscribe
so that you can watch all of these videos, get that knowledge and become
my next millionaire student. (upbeat music)

54 Comments

  • TRAVISTEN COM

    September 2, 2019

    such an important topic, gotta share it

    Reply
  • Corey Lueneburg

    September 2, 2019

    I've only been reading for about 8 months. Im on Robinhood currently, will be switching to TD very soon. But I've put in a lot of orders that didn't fill, and it's extremely frustrating. I bought shares for one at .45, and set a sell at .53. It not only hit .53 multiple times, but actually hit .55 before it dipped again. Very frustrating

    Reply
  • Faris Qureshi

    September 2, 2019

    I think Robinhood have started Limit orders

    Reply
  • Jorge Cervantes

    September 2, 2019

    Yes, I put orders before I start seen your videos, I learned options trading but now I see more potential in the penny stock trading, thank you for all your videos

    Reply
  • philip ramsey

    September 2, 2019

    I mostly use limit orders. However, when I was raising cash to buy a car last month, I used market sell orders to make sure all the stocks sold that day so I could have the cash before the end of that week.

    Reply
  • Anuraag Devapooja

    September 2, 2019

    No never

    Reply
  • John Teo

    September 2, 2019

    Yes, I've made stock orders. Definitely been listening to your warnings and have only been trading on limit orders, although i have had some losers/winners that have had some slippage . Its definitely something im working on and trying to get that important experience on, watching lvl 2 and time and sales, mixed with my trading plan. Its been 3 months since ive started trading and I know that it doesn't happen straight away, but im slowly starting to see the difference. Thanks for always drilling these lessons into me so I dont get complacent and stay focused! #drillsergeant

    Reply
  • Timothy Sykes

    September 2, 2019

    Do you use market or limit orders? Tell me why below!

    Reply
  • Carlos Arellano

    September 2, 2019

    I couldn’t find the link to the free book you mentioned in the beginning

    Reply
  • Stockafella

    September 2, 2019

    Tim thanks for all the info!! 2019 was my best year thanks to you lessons!!!

    Reply
  • Love Liberty

    September 2, 2019

    I was looking for this clarification during my study and paper trade. Limit orders from this day on! Thanks Tim as always⭐️

    Reply
  • Freddy Alvarado

    September 2, 2019

    Im using Robinhood and the limit sell and limit buy order work well never had a problem with execution . Robinhood is not bad for beginners and level 2 is a most have . I started with only 500 gaining 40 15 70 dollars profits I recently added to my buying power for a bigger profit . Once I have learned enough I'll switch to E-Trade and keep both.

    Reply
  • Willem Conradie

    September 2, 2019

    always limit orders!

    Reply
  • trevor toerien

    September 2, 2019

    I discovered you a month ago and did not understand alot of the terms you were using, now, after listening to your video's everyday, i am getting it.. getting better and better each day and getting ready to be ready.

    Reply
  • Ilse Dewil

    September 2, 2019

    Much gratitude & appreciation 🌟

    Reply
  • Damián solo

    September 2, 2019

    Thanks you tim..super helpful

    Reply
  • TheAnigai

    September 2, 2019

    Not trading, working my way through Pennystocking Silver DVD's, Trader Checklist, all Steadytrade Podcasts and more video lessons before I start paper trading for a month as you've previously suggested to get used to how fast the market moves and then start with small sizes.
    Prepare, prepare, prepare.

    Reply
  • sigimi

    September 2, 2019

    Thanks for the video Tim. So if you've bought at $2.90 and put your limit order at let's use $3.10 what does that mean when the stock is going up and it is at $3.18? Where will you be filled? I'm a newbie sorry.

    Reply
  • Mary Beth Nilson

    September 2, 2019

    No orders yet!

    Reply
  • pierre1122

    September 2, 2019

    Better to play poker !

    Reply
  • Omar Elias

    September 2, 2019

    Yes!

    Reply
  • Brandon & Kimber Barkdoll

    September 2, 2019

    Put in my second order, I requested a price limit and before it got in after it rose just above, so the order didnt go through. So, later it came back down and I got my order filled, but it was wayyyy later. Smh. I had do start on Robinhood, because all the others requested that I have $20k in liquid assets and I don't have that, so they denied my application. :'((((

    Reply
  • Mor Tor

    September 2, 2019

    God bless you Tim. ❤️

    Reply
  • сергей левадный

    September 2, 2019

    Good day! Please describe the entire set of tools that are needed for training and what is the minimum amount to start trading ?!

    Reply
  • SGT Ret Arthur Pegues

    September 2, 2019

    Limit orders yes I was trying to get every penny I can and losing not executing the orders. But know I have to have cushion on the win and the losses to execute the order. What do you think about HOT KEYS? I am trying to set up in Etrade.

    Reply
  • Cesar Marquez

    September 2, 2019

    Yes, both. And yep, never use market orders.

    Also, I bought the book and I’m reading it and trying to play what I learn.

    Reply
  • Carolyn Tews

    September 2, 2019

    No never put in order yet. Paper traded only

    Reply
  • Donald Rs

    September 2, 2019

    4 years ago I try your system on how I do Trey stock and I lost 500 I haven't done anything since

    Reply
  • Freddy Co

    September 2, 2019

    So far I've experienced slippage a few times! mostly when my stop gets hit and I take a bigger loss -_-

    Reply
  • Ikääntynyt lapsi

    September 2, 2019

    Yes

    Reply
  • Duck My Sick

    September 2, 2019

    I use market order for stop loss only

    Reply
  • Omar Elias

    September 2, 2019

    Never put in a stop order… Also if someone buys 5k shares at Market order; does it raise the stocks price or trading price that day?

    Reply
  • Morgan Emery

    September 3, 2019

    Hi Tim I’m a beginner and trying to find a trading platform that’s not governed by the PDT rule and I can use in Canada for day trading like yourself…..which is a good one for myself if you know??

    Reply
  • Brooke Steele Stephens

    September 3, 2019

    No I have not started trading yet…watching all your videos

    Reply
  • John Seck

    September 3, 2019

    Awesome guidance Tim. Thanks for all you do.

    Seck

    Reply
  • John Seck

    September 3, 2019

    Sorry. Hit send too quick. Always limit orders more or less at the mark.

    Reply
  • Randy Berg

    September 3, 2019

    Never traded before

    Reply
  • David Smith

    September 3, 2019

    No I've never done any kind of order.

    Reply
  • Jesus Estrada

    September 3, 2019

    Yes I’ve entered a few orders

    Reply
  • Jesus Estrada

    September 3, 2019

    Really learned a lot on this video ! Thanks Tim

    Reply
  • MufflePuff

    September 3, 2019

    I’ve been trading sparingly the last couple of weeks. Getting smarter. The best trade is 80% no trade as I learn more about market environment and refine my strategies. #HistoryIsEverything ——— and limit orders every time. A missed play is better than a huge loss.

    Reply
  • Henry Craig

    September 3, 2019

    Preparation + Opportunity = Success

    "Knowledge and self-sufficiency are critical to my success in penny stocking."

    https://profit.ly/guru/timothysykes?aff=11819

    Reply
  • Kevin Vela

    September 3, 2019

    I've placed only limit orders because of what I read in your books

    Reply
  • Артем Заянчковский

    September 3, 2019

    Thank you, TiM!

    Reply
  • Handsome Leper

    September 3, 2019

    Tim, I know your feelings about Robinhood, but you can set limit orders, and it’s super simple, just 1 additional button to push. Again, I know you think it’s good to pay commissions, and I know you hate that OTCs can’t be traded on Robinhood, and that you can’t short on Robinhood, BUT overall it’s not the enemy.

    Reply
  • lombardo141

    September 3, 2019

    Homeboy still trades OTCs now that’s an edge. 👀

    Reply
  • AJ Huber

    September 3, 2019

    Hey Tim thanks for the video. I’m going to order the book ASAP. Have been watching all the YouTube content first and plan to sign up for your challenge by the end of this month. Already placed the application in. Is there any future sales coming for the trading tickers, penny stock frame work, etc…? J/w. Will be getting them ultimately either way.
    Love ur style of teaching and am stoked! to get started! Just from YouTube I have a false sense of knowledge and want to start trading now but know I need to put more time in. Thanks again for all that you and your team does. It’s providing a light to the tunnel of $hit we all have to walk through. I seriously feel and know that I can do this.

    Reply
  • Ballers Anonymous

    September 3, 2019

    Got half my order filled then it doubled in 5 minutes

    Reply
  • Marco Olivares

    September 3, 2019

    Hola que tal, soy nuevo nunca eh invertido en la bolsa seguiré viendo los vídeos ya que an capturado mucho mi atención gracias por tus consejos

    Reply
  • Stephanie Hughes

    September 4, 2019

    Nope, no orders yet. Going to start trading after the T&I Summit in FL this year and join STT Pro with Tim Bohen, plus other learning plans I have before I start. Also, waiting for my interview for your challenge. Thanks Tim, your videos always help!

    Reply
  • Chase Kazzee

    September 4, 2019

    Nope on the stock order. Soon.

    Reply
  • ERICK ALFARO

    September 5, 2019

    Stop loss orders

    Reply
  • Rick Salin

    September 6, 2019

    0:30 Tim makes it sound like he is handing it out, then bam fuck you all I'm rich and in order to get rich buy this book. 2 all my trading niggas, we heard this story before…

    Reply
  • Ian Rosas

    September 6, 2019

    Limit for life! So I don’t get screwed

    Reply

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