This was a quick but useful chapter. I don’t have a ton to relay because its all in the presentation and my notes below. I’ll go over what Nate goes over, but you really need to see the chapter to get any real good use out of it.
While this chapter had limited value for me I still think its GREAT for beginning traders or traders new to pennystocks. I knew basically everything in this chapter just because I’ve been around pennystocks and the applicable brokers for years and years. But if I had to guess what the most questions I get revolve around, it seems to always be, what broker do I use, what software do I use, etc. So many new traders think some “secret” broker and super duper quant mad scientist software is out there. While this does not exist, there is indeed a HUGE advantage to having the right broker and the right software. But it is by no means a silver bullet.
Nate goes through the three best brokers at the time. While some of the clearing firms and pricing have changed, the info is still applicable today. VERY simple but VERY useful if you are new to pennystocks and have an account at Etrade or TD or some other big broker.
The chapter wraps up with a very handy tutorial on DAS trader. While I love DAS and most hardcore traders use it. It is for sure a “pro tool” and is not very user friendly to the beginner. I remember the first time I fired it up, I was like “WTF do I do now?!?”. Nate does a great job in running through all the basic getting started setup in 10 -15 minutes. This could be worth HOURS of frustration if you try and do it on your own.
Again, no trading how to in this section, but VERY useful info that you would have a hard time finding elsewhere. Nothing top secret but you could spend days googling and bugging other traders to get the same info you get in a 30 minute chapter.