Have you ever gotten the “order rejected” message from your broker? Let’s fix it. Today.
I’m solution-oriented. I’d rather fix something than get frustrated. Matt Monaco has the same attitude. Which is why I hope you’ll join us today, because he created a new tool to solve a common problem for traders.
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Table of Contents
The Big Picture
Imagine opening your trading software, finding a perfect setup, creating a trade plan, and placing your order, only to see this message…
“Order Rejected”
Have you experienced this? If so, you’re not alone.
Sometimes it will say “symbol restricted” or “closing only.” Whatever the message, you can’t trade the stock.
So, you sit on your hands, frustrated, and watch the stock confirm your thesis.
You haven’t lost anything. But it feels like you lost on a trade you should’ve won.
Why do brokers block stocks? Sometimes the stock gets halted pending news. Or the company broke the rules. But with penny stocks, it’s often because the broker flags it as a “high-risk” stock.
Now, I believe you should be able to trade what you want. It’s your money, you earned it, do what you want with it. But brokers have rules and sometimes they block stocks.
If you’re frustrated, here’s what to do…
3 Options If Your Broker Blocks Stocks You Want To Trade
This is going to be a straightforward example of “keep it simple, stupid,” okay?
Option 1: Ask Your Broker To Unlock Blocked Stocks
If a broker won’t let you trade a stock because it’s on the high-risk list, call and ask them to unblock it.
Your freedom to trade might be a phone call away. Maybe you need to check a box or sign your name to show that you understand the risk, but some brokers will unlock blocked stocks when you call.
Another broker might say that you can’t trade that stock using the trading software, but they’ll let you call in a trade. Now, for the stocks we trade, that might take too long to be worth it.
Still, other brokers could just say no. Next…
Option 2: If Your Broker Won’t Unblock Stocks, Leave
This is the biggest hang-up I see.
Look, if you don’t like it, change brokers. They’re like channels on the TV. They’re like gas stations.
If you hate one gas station, do you wring your hands and get uptight about it? No, you go to a different gas station.
Now, if you’re unsure about a broker, throw a couple hundred bucks in there and try it out. It really is that simple.
Option 3: Put Up With It
For people who don’t like change, this might be a good solution. The reality is, there are plays every day that you CAN trade using whatever broker you use now.
So, if your broker won’t unblock stocks and you aren’t willing to change, then focus on what you can do: find setups from the thousands of stocks you can trade.
My Take
This might not be the best analogy, but it blows me away how people are scared of AI.
I’m over here saying, “This is the greatest technology I’ve ever witnessed. I was there for the personal computer, I was there for the mobile phone, but I’ve NEVER seen anything that has had as big of an impact on my life as AI.”
Meanwhile, there are people who won’t use it, won’t try it, and are scared of it. Try it. See if it works. If you don’t like it, don’t use it.
Brokers are the same. Drop $200 in a new account and try it.
Watchlist
Rocky Mountain Chocolate Factory, Inc. (NASDAQ: RMCF) popped yesterday after it filed an 8-K announcing it was “exploring strategic alternatives [including] a possible sale, merger, or other business combination, or going-private transaction.”
RMCF, 1-day, 5-min candle, day one with a catalyst
Yesterday was only day one for RMCF. I like that it was holding the $1.45 support/resistance line. It also traded roughly 10X the float by the early afternoon.
If it continues to hold, look for breaks above yesterday’s resistance in the $1.90 range. If you’re more aggressive, watch for breaks above yesterday’s signal at $1.76.
On My Radar
- I’ve been saying it for months: compute is the new oil
- Highly recommend: my mentor Tim Sykes is doing a free 2-day bootcamp starting tomorrow
- Sandisk (NASDAQ: SNDK) gapped up yesterday on this 9th-gen AI flash memory announcement
- My video on how to choose a brokerage account