Is Webull Worth it for Day Trading? (My Honest Review & Platform Demo) transcript

[Music] in today's episode I'm going to do a broker review and a platform demo showing you how to day trade using Weeble we've got a lot to cover so let's go ahead and jump right on the screen share this is the Weeble software front and center and this is my layout as I've designed it now I would love to be able to give you a link where you could just install this layout on your own machine but unfortunately Weeble does not allow you to share layouts which is kind of strange because you could do it with nearly every every single other broker dealer so I'm going to walk you through instead how to create a similar layout and all of the settings I adjusted to get this to look this way and we better start keeping track of the pros and cons we've got one on the cons side which is you can't share layouts it's not a deal breaker but it's a little bit annoying now during this episode I'm going to take some live trades this is a funded account with real money I've been using it for a couple weeks and I've gotten a sense of how to use Weeble what I like about it and some of the things I don't like about it my goal for you is that by the end of today's episode you're going to get a sense of whether or not this broker and this platform will be a good fit for your strategy now I'll tell you right now at the beginning of this episode I have no affiliate relationship with Weeble or with any other broker for that matter so when I give you my opinion it's just my honest opinion of what I think of this platform it's not colored or biased by the fact that I'll get paid if you sign up the extra $100 or whatever it would be makes no difference to me so I'm putting this together because I want you to have a sense of what I genuinely think are the best platforms for active trading now I'm going to start high level here there's of course dozens and dozens of different Brokers that you could choose from and if you'd like me to do a broker review and a platform demo for a different broker please by all means let me know in the comments and I can fund an account and I can do that so when you first set up your account with Weeble you'll have to subscribe to realtime data some of the other Brokers out there include realtime level two data for free but Weeble does not you do have to pay for it so one of the first things that you'll be able to do when you log into the platform is the quotes will be blank and it'll CLI have a little link where you come over to this page right here and it tells you what you can subscribe to so NASDAQ total view is $22.99 a month and nbbo data right here is $9.99 a month I'm subscribed to both of I probably could just choose well I I need nbbo data and I'll explain why in a minute I might be able to do without this if I have this but in any case I'm subscribed to both so it's basically $13 a month in Market data not a big deal but it is what it is now I'll say when you first set up your account I funded my account with an AC and it took about 5 days before I could trade it said even though the account said that it had the money it said that there was insufficient buying power to place this order due to the increased risk of volatil of volatile Securities and leverage ETFs this security cannot be traded using instant buying power please wait for your ACH to settle which is 3 to 4 days but it actually took longer than that for me again not a deal breaker just FYI and then when I went to take my very first trade after I'd set up hot keys I got this uh warning notification and you have to sort of say I understand the risks confirm that once and then you won't get that notification again so that was another thing that um you should just be aware of and then I guess actually the last thing that I'll mention is that when I switched machines when I was traveling I was not sure that my layouts crossed over so that was a little bit odd um there might be a way to make that work but I I couldn't quite figure that out initially so but in any case this is the platform as it's installed and when you first install it if you go up to this um menu bar up in the top corner you can go to all layouts and when you go to all layouts you can see these different layouts that I've saved you can create your own custom one or you can load one of the classics so one of the classics naturally would be paper trading for those of you guys that want to trade in a simulator however what I'll say about paper trading and I'm going to go ahead and open the paper trading um let's go to paper trading so this right here is paper trading so we're going to pull up this stock that's moving right now it's uh dats so this is a paper trading platform and so we can see right here we've got our charts we've got our level two data we've got our time and sales and this is where I could place the order now one of the things that I found really interesting about Weeble is that they have fantastic hot keys so if I go over to um this little hamburger menu again and I go to hotkeys and I go to trade I could see all of them right here or I could go to GH settings uh go to goh settings and under Trade here under hotkey settings you can create all of these different customized hotkeys so you could click a hotkey right here and I'll just create a hotkey just to show you how to do it so buy um we'll just do uh 100 shares and it's going to be a buy order it's going to be for stock I'm going to click create and I'm going to do quantity 100 shares I'll make it a limit order the last price I'll have it be at the ask with a 10cent offset to accommodate a little bit of slippage the time and force will be a day order and I'll say yes for extended hours and then just like that I could script this hotkey to a button like let's just say shift N I say done and just like that that hotkey is now live so you can create complex hotkeys it's very easy to set them up you can have hot keys for selling where you go to again hotkey settings you go to uh cell so we'll make this a cell hotkey sell half position create and I'm going to change quantity here to uh percentage so sell 50% of my position I could do against the bid with a 10 offset below the bid extended hours yes and I could say you know contrl B to sell on the bid or whatever you want you set that hotkey and then you're done so I love the hot keys but what surprised me is that when you're in when you're in the paper trading um module here you can't use hotkeys so if I press shift one nothing happens shift 9 nothing happens in fact there are no hot keys for the paper trading simulator so if you want to use a paper trading simulator you actually have to manually enter your orders so let's go ahead and manually enter an order to buy the stock we'll put an order at uh 520 and we'll click simulated by the order is sitting there it's still sitting there what's going on it's working it's a working order now the current price of the stock is 504 what's happening did I enter the order wrong no it's just very slow to execute and that is a problem so now if I go to sell I could put the order at $4.99 for instance I could sell that order do a sell order click sell I'm going to sit here and I'm going to have to twiddle my thumbs and wait for that order to execute so the result is that the paper trading simulator is very slow in fact bordering on not really functional for day Trad my order is still sitting there in this time the stock could have easily gone up and gone back down 15 20 cents a share and I missed the whole move so this is really not a functional platform for active day trading as a simulator okay so let's just put that aside right now and recognize if you want to do simulated Trading you're not going to be able to do it with their paper trading module but if we go back to stocks here now let's try this again so let me go ahead and type in this symbol of dats and I'm going to unlock trading now close your eyes because I got to enter my password here okay so now I've unlock trading I'm going to go to positions and I'm going to watch this right here we've got 550 on the ask and I'm going to click shift one shift one and I filled immediately now I'm in that's a real money position I'm in a th000 shares of this I'm going to press contrl Z and I'm out of the position just like that I just made $29.8 now I demonstrate that to you to show you how quickly you can move in and out of the market so that was a pretty fast trade I think we could agree to that right that was a pretty quick trade I got in I got out pretty fast but I'm going to be honest that although it's pretty fast it's not as fast as other software I've used before I'm going to put an order here I'm going to click on the ask price price I'm going to put an order up here at 65 and I'm going to get this order ready to press so I'm going to be watching this stock here for the break through this high now the way you set up your widgets on this is uh you can you can go to let's see um uh I'm trying to remember now so if you go to this little menu bar this little hamburger click add widget and then you can go to all widgets and you can click on uh charts so I added my charts here and you can change to Dark theme if you prefer a dark theme layout which many people do I don't love their Dark theme cuz for me it was almost too dark um I just felt hard to visualize but in any case you could do as you'd like so with the charts themselves though um I have no issue with the charts they're simple but they work just fine no issues so let's watch this I'm going to click that buy button so see how fast I'm in that trade I'm in right now and I'm back out so boom now I'm $115 so you can see I can trade pretty quickly I click the buy button I click the sell button I'm in and I'm out I'm up $115 and 13 cents right now with real money so you can definitely move in and out of the market pretty quickly now the spot that I was watching on this was the Breakthrough 65 so if you look at my order there I got filled at 65 and I got out at 68 which was only a 3-cent winner wasn't the biggest winner but but you get the idea you can move in and out pretty quickly now just just for the sake of comparison um I'm going to pull up uh my light speed software here and I'm just going to pull the stock up dats and I'm just going to show you my execution speed here so I'm going to watch this for a break over 75 now I realized as I was editing this video that some of you may be interested in learning more about the actual strategy that I trade every single day specifically my small account strategy that I've used with accounts as small as $500 so I'm going to put a link it be pinned to the top comment and at the very top of the description where you can download a PDF of my small account worksheet and my criteria for stock selection that I use every single day so if you're currently actively trading and you haven't already downloaded this worksheet please check it out print it out you can use it in your own trading starting today the only thing I ask is that you practice these new strategies that you're learning in a simulated environment before putting real money on the line just prove that you can make money trading the strategy that I use every single day before you throw real money at it so with that said let's go ahead and jump into these trades so I'm in there and see how fast I bought that thousand shares there almost instantaneous I would argue that light speed is faster $27 69 there on that trade light speed is incredibly fast and again look guys I don't have an affiliate relationship with these Brokers so I I like light speed a lot but it's expensive that's the biggest downside is it's expensive that trade that I just took right there for you cost me uh to buy and to sell each time I press that buy and sell button there's a commission and then on top of that I pay a commission for direct routing because I routed that order through NASDAQ and I can talk more about these Commissions in a second but you don't have any of that over here at um at Weeble so the nice thing with Weeble is that this is totally commission free and clearly you can trade pretty quickly so what I will tell you is that if you want to use Weeble for simulated trading for paper trading your best bet is to set up all your hot keys for trading with one share just trade with one share basically that's your best way to do it you hack the system all right they it seems to me that they're restricting hot keys and fast executions in their paper trading module probably to encourage you to trade with real money why they don't make money when you paper trade they make money when you trade with real money because of the payment for order flow relationship that they have with these big institutional trading firms they buy all the order flow that comes off of Weeble they then basically scalp every single one of those trades for fractions of a penny and they add up to the tune of billions of dollars a year they pay the broker a little bit of that money they even give you a little bit of that money or me in in this case here in the form of slightly improved execution fill prices but these platforms typically run a little bit slower so their executions are not going to be as fast as light speed and these platforms are not incentivized to encourage you to trade in a simulated environment they want you to trade with real money so if you want to paper trade with Weeble you really just have to use real money and just set up your hot keys to be just 100 shares so when you go into your hotkeys back to settings over to the hotkeys right here you could set these up as you'd like now they have a lot of hot keys that are already predetermined they're they're built in but then you can also customize them as much as you like so these are let's see oh no that's something else um so hotkey settings so these are all some of these are the hotkeys that are already built in here and some of these are hotkeys that I've added myself so buy 4,000 shares so when I'm setting up a hotkey one of the things that's important to me is using an offset now if we just compare Weeble right now briefly to thinker swim I'll show you over on thinker swim the problem with this platform is that while you can create hot keys in thinker swim you cannot create offsets so under hot keys right here let's see we can go down you can create a hotkey to buy Market to sell Market to buy Market buy ask to sell Market to sell ask to sell bid but there's no offset and so the problem is if you have a stock like dats that's moving quickly and you know let's just say 100 shares 10 shares doesn't matter but I click the button to buy ask I'm going to buy ask that order was a little slow to fill but it did fill now I'm going to click sell ask and I made 60 cents on that trade but if let's say when I press buy ask I wanted to buy 10,000 shares but there were only let's say 100 shares on the offer on the ask I would have only filled those 100 shares and then my order would just be sitting there and waiting because you cannot use uh you cannot use Market orders during pre-market or after hours trading so for those that aren't already familiar The Market opens at 4:00 a.m. um 700 a.m. is when most Brokers come online 9:30 is the open 400 p.m. is the close and then 8:00 p.m. is the after hours close so this is uh pre-market and this is extended hours or after hours trading this is the only window right here where you can use Market orders or stop orders or trade options so when you're trading extended hours 4:00 a.m. to 9:30 or 4 p.m. to um to 8:00 p.m. you're restricted to only using limit orders now I don't mind using limit orders it's not a problem but if you can't use an offset the issue is you may not fill your entire order and that's what often happens over at thinker swim so there's a lot of Traders at thinker swim that have gotten really frustrated and have actually downloaded third-party software that sort of looks like this right here and they pay $175 a month for it and it allows them to have all of these hot keys that you have with Weeble but they pay $175 a month for it and that doesn't really make a lot of sense to me now I have heard people say that thinker swim is going to be releasing an update to the hot keys that will include offsets that would be really nice if they do that but in my humble opinion it doesn't change the fact that thinker swim also has a very poor way of visually displaying level two this is the level two right here and it's this histogram now you'll see well wait a second that looks pretty similar to what you've got here and it it does look similar but this is a much more blend histogram or um gradient where it's harder to differentiate the tiers of the market now I actually differentiate the tiers in a big way with this color scheme right here on light speed and what you can do on Weeble is you can go to appearance and you can change either to red and green which I don't like or you could change to multicolors which is better so with multicolors you can actually see how many orders are stacked right here at the bid and how many are stacked at the offer at the same price this is a really helpful way to visualize level two and it's how most Traders visualize it but thinker swim doesn't really cater to active Traders that's not their that's not their client base so they don't really care about you know giving you the ability to customize level two so one of the things I like about light speed is that I can actually go in here and go to design and go to level two and I can change these colors all all around I want to change this to be you know orange just like that I've changed it to be orange so if that's how I want it that's how I want it so I like that you can customize this to look exactly the way you want at um at light speed it would be nice if you could do that uh same level of custom customization at Weeble as of right now you can't but they do offer just by default um more options for different ways to view level two so if you view it this way I think that's pretty good if you choose to do just the appearance in blue I think that's okay as well because at least the shades are more distinguished so you can see the top tier the best price very clearly in the dark blue and then the next level down is is a much lighter color so it's easier to distinguish now one of the things that's also noteworthy while we're on the topic of level two is that on order book settings if you are on um let's see if you're on level two order book book right here most people would be subscribed to the level two order book this is level two NASDAQ total view so this is the view that you would have and what I learned is that when you subscribe to NASDAQ total view as as we have it on right here and there are a couple different ways you can have it displayed you will not see halt levels if you subscribe to nbbo right here you will get halt levels so see how this gray says limit up at 650 six that's the that's the halt threshold where if this stock goes straight up to 650 now the halt level's moved it'll be halted for 5 minutes if it goes down to 433 it'll be halted for 5 minutes this is important information especially when you're looking at a stock like Hoth where the halt levels are maybe a little bit closer 320 or you're looking at one like sprc the halt level here is up only at uh6 so not only do you see the limit limit prices of what the price is where the stock will halt if the stock was halted you'll also see the resumption price so you'll see the quotes in real time showing you approximately where the price is going to resume so Weeble actually provides you with quite a bit more data than you would get using just thinker swim again not that thinker swim is bad and this isn't really meant to compare thinker swim to Weeble but just for the sake of it because many people do like thinker swim quite a bit now I will tell you that I did have one a very disappointing encounter with Weeble the encounter was that I took a position of 6,000 shares and I bought with three orders of 2,000 shares and then when I was ready to sell I pressed my hotkey to sell my full position and I got this message that your order is rejected because it exceeds the maximum quantity threshold for a single order you might need to reduce the size now I'll also say that when you get this little alert here this little notification it's sort of buried in this window and it does not stand out at all so first of all I didn't even know what was happening I actually went down to for quit and that's when I realized that I it was showing that I had two two windows open and I realized one of them was this notification so I instead tried to sell half my ORD sell 3,000 shares and I got the notification again and then I tried to sell just a th000 shares and finally I was able to get out but I had to slowly unwind this position and it ended up resulting in a fairly big loss cuz I wasn't able to get out quickly when I wanted to right I mean you can see the way I trade I'm looking at a stock like this this is a dip right here so I'm going to buy this dip at 26 so I'm in at 26 and now it's popping up and I want to get out right there so I'm back out 26 and 28 now that's a quick trade that's 20 bucks with a th000 shares all right I when I want to get out I want to get out I'm not messing around I can't sit here and twiddle my thumbs and try to figure out how to slowly piece out of a trade so what that taught me was that thinker swi or sorry that Weeble would actually not be a good platform for me for where I'm at today now it's possible that right now I could trade this stock with 10,000 shares and it would let me or 6,000 shares I wouldn't get that notification my guess is that it varies from stock to stock and they have some algorithm that sort of factors in how many shares you're trying to trade with the amount of volume the stock has but the stock that I was trading had millions of shares of volume it was not a thinly traded stock it was up after hours on breaking news and it just wouldn't let me sell without slowly piecing out so that for me personally was a deal breaker and so we'll go back over here to the pros and cons list so the pros here we've got um hot Keys definitely they've got great hot Keys another Pro is that they've got level two uh with sort of nice color scheme another Pro is the nbbo um halt levels that's definitely a pro so halt prices we'll just do like that um another Pro is um relatively fast so it's relatively fast another Pro is good charts they're decent you know they're not amazing but they're not bad cons okay so we had that one earlier about sharing uh layouts it's not really a big deal it's just a little one but um order size threshold this is a really big issue for for someone like me who trades with large size it's it's actually a a impossible issue to overcome it would make it so you could trade with Weeble up to a certain point and then when you got to that certain point you would just have to switch to a different broker and I suppose at that point that might be where you would consider a broker like light speed you say all right I'm going to switch to light speed this is going to be a little faster I'm going to pay commissions but I can trade if I want to trade 50,000 shares I could trade 50,000 shares you could trade as really many shares as you want so this is more probably professional level software it is professional level software and it's probably for where you might get at a certain point you graduate to that level but Weeble as a starting point you know I think it's a I think it could be a fine starting point it's fast enough the hotkeys are great you can move in you can move out quickly as long as you don't exceed certain size thresholds now it's a little challenging because you don't know exactly what those size thresholds are so let's see so right now I don't have all that much money in this account I don't in fact I don't know that it'll let me do this order so let's just try it I'll put the order at $4 a share so I'm going to try to do 10,000 shares at $4 let's see what happens it's going to say insufficient buying power right because I'm I would have to use leverage to do that let's switch to um Hoth Hoth is a little cheaper 258 so I should be able to buy 10,000 shares of this and I'll just put my order down just a little bit lower so we'll just go down to uh whatever 40 35 so it's accepting 10,000 shares as one order it's not giving me the the error that it's you know too big a size so for that stock I don't know if it's because of the volume or how much it's up or down on the day or what it is so in this case could I buy a 10,000 sell 10,000 shares it seems I could um but there's obviously limits and I hit I've hit them before and and that cost me it was a a pretty sizable loss I was pretty disappointed when that happened so at that point I realized this is going to be an issue now when it comes to the platform layout um I've got my chart here in the top corner and of course you could choose different time frames if you wanted you could switch um you could do your drawing tools and everything else um you could set up your indicators um you could set up your your line Styles this and that so one of the things that um that I kind of like is just keeping my charts really simple so I didn't make it super complicated I just you know have sort of basic indicators the nine the 20 the 200 and the volume weight average price now typically I would also add um macd onto this so I can add the macd right here all right so we've got actually a macd crossover on this here um but anyway so I keep my charts relatively simple I keep those up at the top and then down here here I've got my order book and I have it on nbbo and I usually try to have it scrolled down just far enough so that I can see the limit up limit down level so I've got to have it kind of like right to there that's fine and then I leave this trade window open so I could kind of manually enter an order and kind of put the price of what I'm willing to pay and then just keep my hand over the buy button and I could click the buy button a couple times so I'll show you I'll just do um 100 shares just as for example so I'm just going to click the buy button and now you know just like well wait oh my order's too low sorry um so I'm just going to click the buy button move this up a little bit so so I'm in there at 73 so I just kind of hold for a second and I'm watching it and then when I'm ready to get out I can use my hotkey to sell so I could say uh now 68 70 68 70 all right so it's starting to come up I press my control button I could put the order sell in the ask there at 75 and got out there and I got filled at 75 100 shares so in and out two cents a share so you know you can kind of um you could use the buy order window down here to buy you could also use it for selling if you wanted to but I tend to use it for buying um the quotes window here I actually don't use that I could just close that widget entirely um let's see remove quotes So I have trade right here and this is the classic trade window they do have they do have other widgets if we go into um add widget and we go to all widgets you can see the different widgets they offer we've got the charts we've got the quotes the um the order book this is all here volume analysis I don't use that time in sales I do use that that's over here this is showing me all the orders that are going through the market so that's good and then under Trade you've got your order entry window your classic trade which is the button that I've got you've got your turbo trade where you can set up um you can set up some buttons so you see how you've got the buy 100 sell 100 you could set up quick buttons to do things um you you know again it's like if you like to do it that way you could set up the buttons um I don't really find that super helpful for me because the thing is I like to stipulate how much I want to pay these buttons are the same as hotkeys I'll just use hotkeys if I'm going to do that what I like to do is I set up the button here so I can stipulate this is the most I'm willing to pay is 80 that way if I'm buying a breakout I know I don't get filled higher whereas if I click the button to like buy Market I could end up getting filled at a really high price and that that would not be desirable so I'd rather cap my limit here by using the limit order right there and then some of this um like this area I'm not even using but it just sits there uh so then other widgets um over here on this side I've got my orders today that have been filled and my orders today that are working I always like to keep these separate now these are taking up a ton of space they it doesn't need to take up this much space you could make the window smaller you could shrink it down uh and that would be totally fine so you know I kind of adjust this a little bit and you could have another chart over here or you could even set this up to have like multiple level two windows so you have level two of stock one level two of stock two so you kind of have a couple stocks you're watching um but this is pretty much kind of what I like is sort of just like this um this just need enough rows to show the stocks I'm looking at and then sometimes um just kind of like that and then I'll see all the orders that have been filled now the reason I want to have this separate area for working orders is let's just say I put an order on this one to buy down here and you know I got distracted or whatever and I forgot that my order was out there now that's a problem right I don't want to close my computer and forget I had a live order so that's why I have this separate window where I can always see it now with light speed I have I can modify the coloring in this window so I can make it super bright so I can see very clearly that I've got this open order but anyways you work with what you've got um up here on your positions window you do have to rightclick and show today's closed positions otherwise by default it hides them but that's not helpful because I want to know as a day trader how much I'm up or down on the day so I've got to be able to see it so I just leave it I leave leave it on like that um and that more or less is the way I've got the platform set up um for me usually I don't do charting inside the platform I do all my charting inside day trade Dash here these are the the scanners and the charts that we offer at Warrior trading and then my light speed platform all it is actually is just the level two windows that's all I have there are the level two windows and you could set up Weeble pretty much the same way um so you could say all right I don't want to see I don't need the chart at all so I'm going to remove the chart but I'm going to add um you know sort of have to go through this but um you'd add another order book and you'd sort of put this maybe um you got to kind of well I guess I guess we could leave it there um and then we'll do a add widget um time and sales so but take it out and then put it right next to that so you kind of slow SL like you see what I mean where it takes a second to kind of work your way through setting up your layout which is why it's such a shame that you can't share your layout with someone once you've set it up because you took all this time to get it kind of just the way you like it and now you can't share it but nonetheless um it just takes a few minutes and it's fine so your order entry window but I think this is the class this is not the one I want so I'm going to remove that I'm going to go back to well first I'll display this to nbbo which which is what we want then I'm going to go here to all widgets I'm going to go to classic trade add that one we're going to put it right down here like that and you know now this is starting to look a little bit better right so now you've got your two level two windows your two order entry windows I mean personally this is taking up a lot of space this order entry window here on light speed it takes up this much space look at how much space they're using you've got a buy and a sell button limit price what else do you need you don't need all this space why is it taking up so much space it's a pain now you need a bigger monitor right so I don't think that that's super convenient but um you know I mean you like I said you you kind of get used to what you get used to and um if you can tolerate it and you get used to it then I think that this can be a platform that works for you so I would say um in summary long story short Weeble has a competitive offering they're not a bad platform one of the things that's also nice about Weeble is they do have a number of international offices so if you're in Australia you're in Japan you're in Canada you're in Mexico you can open Weeble it's not the same as the US Weeble some of them charge commissions so they're not all the same they have different pricing structures and stuff like that but you can open um Weeble accounts from a lot of different countries thinker swim with Charles Schwab is pretty much just the UN the United States at this point they have a Canadian Branch but it's not as widespread so Weeble is kind of making a bigger attempt at actually attracting a a wider International audience and being a a bigger platform for people that might also want to trade crypto or different exchanges and things like that so they do have a competitive offering unfortunately their trading simulator is not great you'll have to use real money but if you don't mind that I think it can work so and the one thing that I'll also say about Weeble is that they allow trading starting at 4:00 a.m. since it's an international company they've got you know support around the clock so they're able to allow earlier trading um you still do run the issues though and I I certainly would run the issues with um order thresholds especially on light volume pre-market trading so I think for beginner Traders a platform for getting started it's not bad especially if you're on a budget you won't have to pay an extra $175 a month to use you know a third party integration with thinker swim and by the way thinker swim has similar thresholds where they make it almost impossible for you to sell a large position they're not as bad as Weeble but they do have some similar issues so if if you were going to force me today to choose between Weeble or thinker swim I would probably well if you're going to force me to choose and you said I have to use either just the Thinker swim platform or the Weeble platform I can't spend the extra 175 a month on a third party integration I would use wee no doubt about it hands down thinker swim with that third party integration thinker swim is a little bit more forgiving on those order thresholds and people do size up heavier with thinker swim so I think that thinker swim could be a little bit better than Weeble if you're trying to still use a commission free broker without um you know that without that threshold issue so actually maybe I would kind of say that there's a curve where for brand new beginners on a budget you've got Weeble here which is great because you get the hot keys and you don't have to pay $175 a month for it and then you switch over to Charles Schwab here where now you're going to pay $175 a month for the software that gives you really nice hot keys and the halt resumption prices and everything else so this is think or Swim and but they have higher thresholds so they'll let you trade a little bit more aggressively and then you get up to this level here which is you know light speed trading or one of the other professional Brokers that cater to seven and eight figure Traders like myself and here you know you could trade 50,000 100,000 500,000 shares I mean you want to take a a position in the company like a a 50% stake or a 20% stake like you could do that with these Brokers they'll they'll let you if you want to be become like an active or passive investor thinker swim Weeble these these guys will all block you so not that you necessarily want to do that but you're allowed to go really big over here but you're going to start paying commissions now if you're trading big size your commission is going to be like $2 per trade and then plus you have your direct routing fees to route your orders to NASDAQ so today you can see I'm up uh $1,952 26 thanks to the 27 that I made during this um platform demo on uh dats and of that will I have a couple hundred in fees and commissions yeah from all of those trades I took I will and I have no problem with that because I wouldn't have been able to take those trades and get the executions as fast as I got them if I used Weeble or thinker swim I know that for a fact because I've tried to push both of those platforms to that limit and they they throttle you back your orders don't get filled they sit and they lag and that can happen that can happen with um with with we with Weeble where I I don't have a great example of it here um there's not really a stock right now that's positioned quite right uh where I could buy enough shares because my buying power is somewhat limited but um but you know if you tried to take a a big position 7,000 8,000 shares you might see that your order does sort of sit there and lag so uh yeah just there's not a great stock right now that's a good example um that's at the right price where I could kind of do that and show you and honestly even if there was there's not a guarantee it it's sort of intermittent sometimes you'll just find you you place that big order and it just sort of sits there and it's like um hello what's going on and then it fills that happens with light or with um thinker swim as well from time to time so that's kind of what I would say is the untold cost of commission free commission free is not really free right there is there there is a tradeoff there and if okay with that then by all means you know so at the beginning of your learning curve Weeble thinker swim these could be great platforms and you know what I know traders who have crossed a million dollars of profit right here not have having ever gone to use one of these platforms just using thinker swim I know a bunch of traders who have done that so I don't want you to think you have to be using one of these platforms to be successful however usually the traders who are really going big eventually kind of get forced to graduate to this type of platform because they need the fast execution speed and the ability to take really big size in the market without getting throttled back cuz that's the thing if you can make $100 a day and you're trading with a th000 shares start trading with 10,000 shares you're making a th000 a day you start trading with 100,000 shares you're making 10,000 a day and all of a sudden it's like well geez I I want to trade with this kind of big size but my broker's not letting me so I'm G to have to switch to a different platform so I think Weeble is a platform that can work for beginner Traders I think there's a limit of kind of how long it could work for you but I think it's a good platform for getting started and I would be comfortable using it with small share size for me I I really didn't have too much of an issue as long as I stayed with small share size if you've enjoyed this episode and you want another platform and broker review please put it down in the comments let me know what broker you want me to check out next and I will take those into consideration I will look at the ones that are most requested so if someone says you know do Fidelity or whatever and then a bunch of people hit the thumbs up and comment back and say yes yes yes yes yes I'm going to pay attention to that so let me know which broker I should review next thank you as always for tuning in and I want to remind you trading is risky my results aren't typical so please manage your risk take it slow and always if possible practice in a simulator before putting real money on the line although I suppose if you're trading with just one share of real money that could be okay thanks again for tuning in [Music]