The 3Dimensional Trading Breakthrough

Brian Schad
Host: I wish I had something like this when I started Brian. Okay, let’s begin with
the types of orders. What are we going to start with?
Brian: We’re going to start out with a few basics, at first, and these will be textbook
sample orders. All of my orders are written down before hand for expediency and
accuracy, clearly spoken, and in sequential order for the broker to be most efficient.
I’m never in a rush, so I can avoid errors! Once you learn to place orders, as you
will see, you will be more of a pleasure for your broker to work with. Furthermore,
you will be rewarded accordingly by receiving the lowest possible commissions.
These simple rules will help every trader:
1. Always have your broker’s phone number and your account number handy.
Keep a copy in your wallet/purse in case you need to make calls from locations
other than your home or office.
2. Write your order down. This is for your records and may help you to convey
your order smoothly to your broker over the phone until you have proper order
placement memorized. Believe me, this won’t take long!
3. Immediately tell your broker what type of order you are placing, either a day
order (good for today’s day session only) or an open order (good till canceled).
Most traders will call their broker and go through all the formalities of a phone
call greeting. This is not necessary and is time consuming. When I call to place
an order, the first words out of my mouth are, “This is a day order...”
4. Always identify yourself using your account number. This is the absolute fastest
method of accurately conveying who you are and getting your order to the
floor. I don’t tell my broker, “Hey good morning, this is Brian Schad...” I simply
say, “This a day order for account #12345...” This immediately tells the broker
that the ticket that must be placed is a certain type (day order) and who I am
(Brian Schad). This is the most expeditious manner possible.
5. When you are initiating a position, state that you are “buying long, or selling
short.” This immediately conveys to the broker that this is an initiating position.
For example, “This is a day order for account number 12345, to buy long/
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