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Penny Stock - CRU




choomantar
Junior Desi
Member since: Feb 10




Posts: 42
Location: Toronto


Quote:
Originally posted by Loser

It is Stocks not Stalks !



Sorry for the typo.....changed that...Thank you for the critic....

-----------------------------------------------------------------
I am an SWING TRADER not a DAY TRADER....

Disclaimer:
(Anything discussed in this Post is completely an individuals view. The Poster does not hold any responsibility for this discussion. Please discuss with your financial advisor before buying or selling anything discussed in this Post.)

 
Post ID: 158640 16-02-10 13:37:14
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jonav
Senior Desi
Member since: Apr 07




Posts: 458
Location:


Quote:
Originally posted by choomantar

I dont have big bucks to play in Large Cap..... I have small amount with which I am aggressively investing and coming out.... for e.g. my principal already safe and from the profits only..... (Made earlier)..... in last 15 days time 2000 CAD was 2500 CAD and the 20th day it became 2900 but the 30 day it was at 2200....so one just has fun with the risk limit of 2000CAD.... as they are profits only made earlier in this market itself....

Penny stocks are the only ones one can play with small figure



If I see %wise then you are doing very good, it may look small but a $200 gain on $2K investment is 10%, on a $100K investment it'll be $10K a month!

If you are serious or want to follow a trading site, then I'll suggest try going here. But there are gurus on this site who invest in big bucks, its a good read though.

http://www.elitetrader.com/vb/forumdisplay.php?s=7abde49a6c117e928a8d6530514a0f6e&forumid=17&daysprune=

Jona



 
Post ID: 158649 16-02-10 15:18:56
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choomantar
Junior Desi
Member since: Feb 10




Posts: 42
Location: Toronto


Quote:

If I see %wise then you are doing very good, it may look small but a $200 gain on $2K investment is 10%, on a $100K investment it'll be $10K a month!

If you are serious or want to follow a trading site, then I'll suggest try going here. But there are gurus on this site who invest in big bucks, its a good read though.

http://www.elitetrader.com/vb/forumdisplay.php?s=7abde49a6c117e928a8d6530514a0f6e&forumid=17&daysprune=

Jona




Thanks Jona, I am playing very small as I am playing with my TFSA, Just to make sure I make as much as possible Tax Free so that I keep my principal safe and play with what ever earning I get.

Also, thats a good link. Is there anything similar to it for just TSX and the Indian Exchange...? I dont know if the US trading is qualified for the TFSA.

I wish we had a separate discussion forum here at CD. I did request for one http://www.canadiandesi.com/read.php?TID=26851" target="_blank">http://www.canadiandesi.com/read.php?TID=26851

-----------------------------------------------------------------
I am an SWING TRADER not a DAY TRADER....

Disclaimer:
(Anything discussed in this Post is completely an individuals view. The Poster does not hold any responsibility for this discussion. Please discuss with your financial advisor before buying or selling anything discussed in this Post.)

 
Post ID: 158651 16-02-10 15:41:22
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pratickm
Global Moderator
Member since: Feb 04




Posts: 2831
Location: Toronto


Quote:
Originally posted by choomantar
I dont know if the US trading is qualified for the TFSA.

What do you mean by "qualified"?
You can hold US listed securities inside a TFSA.
As far as I know, no Canadian brokerage is offering a TFSA denominated in USD (i.e. a USD TFSA).
Only one brokerage (Questrade) allows a USD RRSP.
So the issue with trading US listed securities inside a TFSA will be the forex conversion hit with every trade in/out.
Trading as frequently as you are, the forex spread will wipe out a lot of your gains.
I also believe that dividends from US registered joint stock companies or trusts will be subject to witholding tax as well, unlike an RRSP.
But from a rules or legal perspective, there's nothing stopping you from US trading inside a TFSA.

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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"

 
Post ID: 158655 16-02-10 16:26:06
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Iceberg
Senior Desi
Member since: May 05




Posts: 919
Location: GTA and beyond


TD Waterhouse lets you park your US cash in US Money Market funds. You have to call TD every time you trade a US security inside of a registered account to either buy or sell US money market funds to cover the trade.


Quote:
Originally posted by pratickm
Only one brokerage (Questrade) allows a USD RRSP.
So the issue with trading US listed securities inside a TFSA will be the forex conversion hit with every trade in/out.
Trading as frequently as you are, the forex spread will wipe out a lot of your gains.



 
Post ID: 158660 16-02-10 17:03:36
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pratickm
Global Moderator
Member since: Feb 04




Posts: 2831
Location: Toronto


Quote:
Originally posted by Iceberg
TD Waterhouse lets you park your US cash in US Money Market funds. You have to call TD every time you trade a US security inside of a registered account to either buy or sell US money market funds to cover the trade.

That is allowed by most (all?) brokerages.
Scotia iTrade has the USD Cash Optimizer account, similar to that.
The issue is not whether the brokerage allows you to keep USD, but whether they allow a registered account to be denominated in USD.
As far as I know, only Questrade allows a RRSP to be denominated in USD.
And no one is allowing USD TFSA yet, as far as I know.
So you take the exchange rate hit every time.

-----------------------------------------------------------------
"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"

 
Post ID: 158665 16-02-10 18:35:12
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Iceberg
Senior Desi
Member since: May 05




Posts: 919
Location: GTA and beyond



No, you do not take an exchange rate hit. Let me explain that in my next post.

Quote:
Originally posted by pratickm
So you take the exchange rate hit every time.



 
Post ID: 158670 16-02-10 20:04:28
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Iceberg
Senior Desi
Member since: May 05




Posts: 919
Location: GTA and beyond



The only time you exchange funds is the first time you buy a USD stock. After that all your money can stay in USD unless you decide to convert it to CAD.

Let us say you open a new TFSA account. You contribute $ 5000 CAD. Now you go ahead and buy a USD stock which amounts to total $ 4500 USD. The exchange rate at that time is 1.10. So your total purchase in CAD would be $4950 CAD. So you are left with $50 CAD in cash.

Now the next day you sell the stock. Lets say for a total of USD $4700. Now at this point you have to call TD and let them know that you wish to keep the proceeds in USD. They would go in and buy $4700 of US money market funds for you. Now you have $50 CAD cash and $ 4700 USD in money market, which is near cash.

The third day you decide to buy a USD stock for a total of $ 4600 USD. Call TD again and they will sell $ 4600 USD from your money market to settle the trade. So now you have $50 CAD cash, $100 USD money market and the stock.

The cycle would continue this way.


 
Post ID: 158671 16-02-10 20:52:42
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pratickm
Global Moderator
Member since: Feb 04




Posts: 2831
Location: Toronto


I see...so essentially they are allowing you to "wash" trades beyond the current date.
I agree most brokerages probably do no offer this feature.
Scotia iTrade does have a similar feature, although it's technically not a "wash".
You can keep all USD in their USD Cash Optimizer account, which is essentially money market, and deploy into your other accounts as and when needed.

But the TD Waterhouse technique that you describe still incur currency conversion fees because their spread is built into the initial conversion they quote you.
In your example, their margin is built into the 1.10 rate that they quote you.

Do they allow you to have a USD trading account and transfer funds between the USD A/C and the TFSA without going through their currency conversion?

-----------------------------------------------------------------
"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"

 
Post ID: 158677 16-02-10 23:24:39
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choomantar
Junior Desi
Member since: Feb 10




Posts: 42
Location: Toronto

CRU is going BIG
I am still holding huge chunk bought at 0.105/stk...... and today its at 0.38/stk... already made 300% in it....
News and big market movers discussion blog says....its going to touch 1.5$ to 2$/stk in couple of months......

Should I buy at this rate more?

-----------------------------------------------------------------
I am an SWING TRADER not a DAY TRADER....

Disclaimer:
(Anything discussed in this Post is completely an individuals view. The Poster does not hold any responsibility for this discussion. Please discuss with your financial advisor before buying or selling anything discussed in this Post.)

 
Post ID: 159487 01-03-10 22:32:51
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Contributors:
bazarbania(2)  chandresh(1)  choomantar(9)  Iceberg(3)  jonav(2)  Loser(2)  mk11(1)  
pratickm(4)  sun.life(1)  
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