 Our traders in this video, we're gonna talk about how to actually place live orders in the market. See, a lot of you here have brokerage firm accounts and there's a big difference because some of them are online brokers and some of them are direct access. Now, what we're gonna cover is what it's like to have a direct access broker. You know, we haven't noticed every time you put a trade out there and you're finding out the like, I understand like, did I really get executed? Did I not get executed? And why can I not see my order out there? And this is what I've learned when I first became a market maker, that I went out there and I could see my orders with a direct access where before I couldn't do it. And listen, there's sometimes online brokers are good for one thing, but if you're an active trader and you're doing, you know, quite a few trades over the course of the month, you're gonna see the benefit from it. So what we have right here is we have the NASDAQ book you are on the left and we have a direct access system on the right. Now, what I'm gonna show you is what it's like to see some real live orders out there and how they get posted. But before we do that, we need to cover something very important. It's called the filters. Now, if you follow my little mouse right here, you can see on the left hand corner, you can see where it says I click where it says filters. Now, if I click that, what I usually like to do is depending on the stock, I like to filter out, you know, a lot of little tiny orders and maybe there's too many orders, maybe I wanna filter out big orders and if you look right here, you'll notice that we're looking at the NASDAQ exchange, which means market makeup participant and in the middle right there in that column is the actual price that people look into buy for and the amount of shares. Now, you'll notice that the person that wants to buy the most amount of shares wants to buy, it just basically changed right there, was 69 shares, now it's 100. Now, if you look over, oh, there we go, let me just pause this really quick so the guy doesn't disappear again. So you can see where it says 70. Now, what I want you to look at is right here. You notice right here on this window, do you notice where it says NASDAQ, it says N-X-N-A-S and it says one, it says 390, but technically there is somebody above him, but it's only 70 shares. So you'll notice that if you work your way down that list, you'll get people with one share, 17 shares, five shares. So I kinda like eliminate all those orders out there. So what I like to do is I wanna put this back here and I'm gonna click filter and I'm going to say, show me anybody that has more than 100 shares or higher. I'm gonna type in 100 right here, which says buy in range. Now, if you've been joining me on our YouTube channel every morning we're live, you might notice I do this all the time and as we start doing trading strategies, you'll notice that I might even do that to 1,000, maybe even 10,000, depending on the volatile the stock. But right now, listen, we're only trading something very, very slow so you can see what an order looks like. So I'm gonna click there, I'm gonna click go and I'm gonna uncheck filter. So now I eliminate all the hundreds. So what that kinda does, it kinda matches the level two box right here. So now you'll see it'll kinda be on both sides. Now let me hit play and there you go. Now you're seeing them all. Now this is real time, this is real live data that's going on. Now what I'm gonna do is I'm gonna place an order out there to purchase the stock. Now I'm going to, right now I don't have it aggregated. Now if you watched part one video of this I kinda explained to you what aggregating and not aggregating just to reiterate what that means is I'm bunching all the orders in one order. You can see like there's two orders here at 385, four orders out here at 375. So if I unaggregate it, you'll see those two orders that was at 285 but it's 1% 185, the only person at 100. Now what I'm gonna do is I'm gonna go out there and put a limit order out there. Now I'm gonna click down here, I'm gonna go to my execution system and I'm gonna go out there and put a limit order on the NASDAQ exchange. I'm gonna click NASDAQ, a limit order and I'm going to click and try to buy the stock at $3.91. Now what's gonna happen is on the left-hand side you're gonna notice my order pop up there right in the exchange. Now the spread right now is between 390 and 393 which means if I really wanna buy the stock I can go to a seller and buy from for 393. I don't wanna do that, I wanna negotiate it, I wanna put a limit order out there which a lot of you do but now you're gonna officially see that. So I'm gonna click where it says the buy order and you'll notice right there, Fausse de Pugliese just popped up at 391 and what you'll notice instantaneously somebody sold it to me. So you'll see how I got the execution and I bought it. Now right here you'll see I have, I only trade 100 shares because I'm doing this as just an example but I just got executed and now I'm down a dollar. Why am I down a dollar? Because somebody actually went out there and executed me and if I wanted to get out of the position I actually could sell it to that person and I could take a penny loss. Now what I'm gonna also show you now is I'm going to put a limit order out there to sell. So I'm gonna click where it says my position, I'm gonna load up, I'm gonna say okay, you know what? I wanna sell it for $3.93. I wanna sell it for the least amount of money better than anybody in the market. So I'm gonna click out there, I'm gonna click sell and you'll notice when I click sell there's fouls to paglicia, I just popped up out there. See where it says 392 for 100 shares? That is me. Now you notice I'm not getting executed yet and why is that? Because when I was out there at 91 somebody did execute me, okay? Someone says, oh, someone's willing to pay 91 cents I'm gonna sell it to him but now what I'm trying to do is I'm trying to sell it at 92 and no one's really interested in buying it. Now you basically could see why orders get filled and why they don't get filled. What you're witnessing right now is live orders, okay? These are real live orders that are out there that are placing it. Now if I click where it says aggregate you'll see that not only am I out there looking to sell 100 but someone actually joined me to sell 100. See there's two orders out there one for 100 at 192 and another one for another 192. So you basically are now seeing two orders out there for that price. Now, watch how fast I can cancel my order. I click cancel and see my order canceled right here now my order just canceled up there at 192, okay? And not only did I got my order canceled but someone else canceled the order also that is the power and the speed of direct access. Now you'll notice on the left hand side someone's looking to buy for 191. Now right here you could see I broke even, okay? What that means is if I wanna sell it to that person I could sell it to him. So I'm gonna go out there and I'm gonna try to sell it again at 192, okay? Now watch what ends up happening. Oops, you know what happened? Somebody executed me, okay? I actually went out there 192 and I actually got executed. It was that fast and you could see that I'm up a penny, I'm up a dollar. So that basically means that I bought it on the bid I solely offer it. That's how fast direct access works. Now we could try that again and we'll do it with a different stock. Now we're looking at a stock called SGRP. Now what I could do is I could bring a brand name stock. I don't want you to think that this only works at inexpensive stocks. The reason why I'm showing you more expensive stocks is because I mean more inexpensive is because they're not really moving so you can watch it pretty quickly, okay? So I wanna do this one more time. I'm gonna put a limit order out there and I'm gonna say I wanna buy 100 shares, okay? And let's say I wanna buy it at $1.29, okay? So I'm gonna click $1.29, I'm gonna lower my price, I'm gonna put a limit order out there. Now if you notice right here on the left-hand side you'll see there's 24,300. I'm gonna go in between the 130 and the 128. So I'm gonna click a buy and you'll notice that right there, there's Fowl Still Puglici. There's my limit order. Now you'll notice why would I put a limit order at $1.29 and I'm not getting executed is because there are people looking to pay more money than me, okay? Now I could sit there and wait and we'll talk about strategies on some other coming videos where it would be a good price to buy and a good price to sell. But all we're looking at right now is what it's like to put limit orders out there on the bid and offer. Now obviously I'm not gonna get executed. I'm gonna cancel my order. Let's just say, you know what? Maybe I wanna pay 131. Now you'll notice at 131 there's already a person out there looking to buy 100. What I am going to do is I'm gonna join that person. So I'll click buy and you'll see at 131 there's Fowl Still Puglici. Now watch how fast this is. Cancel. Look at 131. Fowl Still Puglici's gone. I decide I wanna buy it again. I'm gonna go out there, place a bid word out there. There I am again. Like that, within seconds. I decide to cancel my order. Boom, canceled. Look over there on the left hand side. No longer there anymore. Oops, I did not cancel. There I did, I did cancel. Now my order's gone, okay? I clicked the wrong button. But you can see how quickly and how fast this could actually happen. Now what I wanna do is I wanna show you something a little bit more of a brand name stock. Let's say, let's go look at AMD, okay? So I'm gonna bring up AMD. Now if you notice, AMD is a very expensive stock and now it's happening, it's moving quite fast. So you could see it's gonna be really difficult to keep track of it. Now if I wanted to go out there and let's just say I wanna buy the stock at 184, okay? So I could click over here and I said, well, I wanna buy 184. I'm gonna load up my price down here. And let's say I wanna buy a 184 and 3 cents. So you can see all the way down here at the bottom, there's one person out there at 184 dollars. Just look on the bid side and I'm gonna place a buy out there at that price, okay? So I'm gonna put a limit order out there to buy. Now you'll notice, there's Fausto Puglici. I have a limit order out there to buy it at 180, 184 and 3 cents and you could see it down there. There's two people down there. If I click cancel, see how I disappeared as quickly as that? So yes, you could do this on brand name stocks and everything else but the power I'm here to show you is that you have full control of the market. You could put limit orders and you could see them out there. You could put limit orders to sell it and you could see it out there. But when you're dealing with it and this is where the direct access broker but when you're dealing with an online broker, you cannot see that out there. And that's hopefully is gonna answer the question why they, why you can see it and why you can't see it. Now, I guess the next question some of you might wanna ask, why did they do that? Why am I not allowed to see my order out there? And I'll tell you why. It's something called payment for order flow. Go back to your account statements and look what it's all about because you'll see that when you go out there and trade in today's markets, the reason how these online brokers are giving you free tickets is because they're trading against you. So what you're technically doing is you're sending an email to them and you're telling them I wanna buy AMD and you know what? They're gonna say, okay, no problem, I'm gonna buy it for you but let me get back to you on that and what's gonna happen is unless they could buy if cheaper, they're not gonna sell to you. And if you wanna sell a stock, great. Unless they could sell it and make money on you, they're not gonna sell it. Now, there's obviously nothing illegal about it but at the end of the day, why would you wanna deal with a broker that's gonna go out there and trade against you? And that's the issue with online brokers and direct access. Now to see more videos like this, make sure you friend us, like us and watch a couple of more videos because we're gonna have tons of these gonna be shared with you and you're gonna see why it's time to start taking the matter in your own hands and having the right system to trade in today's volatile markets.