 Stocks and CEO interviews brought to you by Rich TV Live. You're here with your boy Rich and I'm here with a very special guest, Amanda from Indonesia today. How you doing today Amanda? I'm doing great, it's hot, but really good. How are you doing? Oh, I'm doing fantastic. We had an up and down week this week in the market but today I wanted to focus on how to buy stocks. So let's first go back to Rewind when you first bought your first stock. How did you do it? Which broker did you use? Did you use market orders, limit orders, stop losses? Let me know how you did it. Okay, when I first started, I researched so many different brokerages and I already had a TFSA with TD Bank. So I started with them and I traded with them for a while and then I learned about Questrade and I really liked their apps. So I started trading with them as well and you can also open a TFSA with Questrade. So... By the way, I'm starting to stop you there but this is Amanda's channel, guys. Amanda, can you let us know where to go and find your channel on YouTube? Because this is Amanda's channel. These are the videos in Indonesia of Amanda and her team helping rebuild communities that have been devastated by natural disasters. Is that correct? Yes, that's correct. Thanks. Amanda in Indonesia is where you can find them. We just started posting videos this summer so pretty small right now. But yeah, you can see what we're doing and we have a lot of projects on the go right now. So it's been busy. Can you explain to me what this project was? That's Colin O'Farrad, he's the head of the military here in Indonesia. When we started the project, we wanted to build houses for people because they were all living in tent villages. And so we started to distribute tools to teams, we call them our heroes teams. And they get together in their communities and tear down the unsafe structures and rebuilding homes. So we've combed over 200,000 people already. Wow, congratulations. You are a true hero. You and your community of members that are making a difference out there are true heroes. And the people that are watching out there, please guys, smash the like button, comment down below, go and subscribe to Amanda in Indonesia, support her channel. She's doing great work and making a difference. Housing 200,000 people, that is nothing short of miraculous. Congratulations for your efforts. Busy, lots more to do. You still find time to buy and sell stocks. So you said you looked at Questrade and tell me more, keep going. So I do most of my trading on Questrade unless I'm gonna get into this another time, unless I wanna trade penny stocks, in which case I use my TV. But I transfer most of my money into Questrade. I just really like the platform. And they don't crash as much. Because they have low fees? They do, they have really low fees. It's a max of 9.99 to sell. So kind of sweet. Not bad. Some people in our community in the US pay like 50 bucks a trade and I just can't imagine that. So okay, liner account set up at Questrade. Now, let's say you wanna put money in your account. How do you do that? You have to wire money to Questrade? Do you transfer money? I do electronic transfers. So there's different ways you could wire money if you want, but I do electronic transfers and it takes, TD is pretty quick, like two, three days. But Questrade, I find like if I do a transfer, I have it in there by the next day. So taking money out is sometimes five days in Questrade, usually three in TD, but I rarely take money out. Rarely take money out. And when you buy a stock, do you do market orders? Do you do limit orders? Do you play stock losses? How do you do that when you buy a stock? When I started trading on my own before I was part of the vegetable life community, I just did limit orders because I'm cheap and I watch my charts and I make a pretty clear list about where I wanna get in and where I wanna get out. Sometimes it changes, but for the most part, I set pretty realistic goals. And so I'll set a limit order and if it takes two or three days to fill, I'm okay with that. So I like a limit order. A market order, I've used them a couple of times and got smacked because oftentimes with a market order, if it goes up and you hit that button before it's processed, you might be in big trouble. Yeah, so market orders, to give you guys an understanding, market order, the broker that takes that order, he will fill you at whatever price he sees. It's a market order. Whatever the market is trading at at that second, they will fill you at that price. So for example, if a stock is trading at $8.50 and then it goes up to 8.55 and you put in a market order, you will get it at 8.55. Now, if Amanda puts in a limit order at 8.50, she will get it at 8.50 when it goes to 8.50. Now, if it does not go to 8.50 or 8.49, it might go to 8.51, Amanda will not get filled. So she will not get her shares, but she's willing to wait and be patient because that's how she wants to trade. And that is what we call sniper trade and ninja trading. And that is really the best way to trade. However, someone like me that is impatient, that doesn't like to sit and stare at the markets, I a lot of times just do market orders. I'm not gonna lie because I just wanna be quick and a lot of times I'm doing momentum trading and the market is going up and down very quickly and sometimes I just wanna get my order. Now, what happened earlier this week was I put in a limit order, I didn't get filled. I got frustrated. Then it went up and then I ended up putting in a market order. I ended up getting what I wanted because I put in a market order, but I paid more. Then what happened is it went down afterwards and I would have got my limit order. So I was kind of kicking myself. I was like, oh my gosh, Rich, you gotta be more patient. So even though I've been trading for 20 years, I still am learning patience. It is my biggest downfall. And another thing when you're trading is you should always put in stop losses. You should always put in a 10% stop loss. So for example, if you're doing a momentum trade and you're buying Aurora cannabis at $10 and you don't wanna lose more than 10%, you can put a stop loss at like $9.50 or $9.00. So you're not gonna lose too much money if it does crash. That is another good thing that a lot of people can do to protect their money and make sure they're not gonna lose too much on any investment. So always consider putting a stop loss, a five or 10% stop loss to protect yourself when you're making an investment, okay? So- That is down advice. Now that is the best advice I can give to you guys. Set up an account. I'm with TD Direct Investing. I'm also with RBC. Amanda's with Quest Trade and she's with TD. A lot of people in the US are using Fidelity. A lot of people are using their local banks. A lot of people use E-Trade. I've heard a lot of people internationally are using Interactive Brokers as well. So there's a lot of different accounts you can use. You can use Market Orders. We advise you try to use Limit Orders to get your price. Both when you buy and you sell, try to use Limit Orders. And if you wanna use Momentum Trading, sometimes it's good to use Market Orders, but be careful. Make sure if you are gonna do a Market Order, make sure there's a very tight spread. So for example, if it's at 851 by 852, you're only gonna lose a penny if you're doing a Market Order. So in those situations, I don't mind doing a Market Order. Now if it's like 854 by 859, and there's a big five-cent spread, if you do a Market Order, you will buy it at 859 instead of buying it 854. So you automatically are losing five cents. So that's the difference between putting a Market Order versus Limit Order. Make sure you know the difference. Always do your due diligence. Always do your research before you invest in anything that we talk here on Rich TV Live. I am not a licensed advisor, either is Amanda, okay? So please invest in the stock because you love it. Now remember, Rich TV Live, people come here for the winners, okay? So if you're not winning, you're probably not watching. We bring in the winners and we'll bring them to you first. It's true. Know that. Always first. Is that true, Amanda? It's very, very true. Even in Indonesia, Amanda's getting the winners first from your boy, Rich, and sometimes I'm getting the winners from Amanda in Indonesia. It's true. You can't live in a tropical island like this if you're not getting the winners. So do your research, set your orders, and you can live it up. All right, thank you for watching, everybody. We'll talk to you soon. This is your boy, Rich, with Amanda, signing off. Peace. Wish I was in Indonesia with you right now. That looked pretty good. Yeah, it's pretty nice. I'm glad you can't see my laundry hanging on the line. Ha ha ha.