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You can still see the Nova special online here http://bear.cba.ufl.edu/karceski/FIN7447/lectures/trillion%20dollar%20bet%20nova.wmv

I've been on holidays for most of the summer, still trading in the mornings, but not around the rest of the day. Just back in the office last week. I'll try to post every day for the next month and see if I can keep it up. I think this is a great thread and I want to support it. I trade...

Don has answered that question with similar figures probably more than a dozen times by now.

You won't be an employee of the firm, all they do is facilitate your trading. Most prop equity firms are just brokers on steroids. They provide leverage, software and maybe some training but you are your own boss and do your own thing, so age doesn't matter. I've seen several people 60+ in...

To HappyGoLucky, Your story is very similar to my own. I traded unsuccessfully for several years as a hobby, re-funding accounts regularly. I went 6 or 7 years without ever making money, just dumping most of my disposable income (and most of my retirement savings) into the black hole of my...

Ignorance of the rules will not get you very far in an audit, so ignore the truth at your own peril. The CRA's stance on shortselling is as clear as day, and the bulletins are not difficult to discern the difference between cap gains and income as far as daytrading is concerned. It's not a...

Has a cra rep told you clearly that short sales are taxed as capital gains? Read the interpretation bulletins from them. http://www.cra-arc.gc.ca/E/pub/tp/it479r/it479r-e.html http://www.cra-arc.gc.ca/E/pub/tp/i...it479rsr-e.html

Incorporation's not that simple since 'investment income' inside a corporation is taxed at a higher rate than it is personally, although it evens out when you withdraw profits to yourself. You can try to make the case that your trading isn't investing of course. This is the discussion I'm...

If your order is routed to the nyse, your MOC order WILL be executed, guaranteed. I'd check to see that your broker is routing them to the floor and not simulating an moc order themselves. Sell short moc orders can't be guaranteed an execution because short orders can only be filled on an...

Openings have been much worse this year than the previous four I've traded them. I've cut my list in half to about 70 stocks the last few months, and upped the size a bit. My average share size is about 5500, but varies between 1500 and 15,000 per stock. YTD net is about $15,000. With the...

You are correct sir, my bad on the interest calc. Didn't you used to be an accountant? :)

More like $12,000/mo * 12 months= $144,000 * (4%/12)=$480/month The haircut costs could be much higher than that if your equity is hit by 20, 30, 40% Not a deal breaker for a volume trader, but it equates to a hidden cost and coudl be significant to someone paying a lot in haircut. Not...

But Goldman doesn't charge the rates, you do. Don't they give you a wholesale rate that you markup to your traders? That's how it works pretty much everywhere. I'm sure you do pay daily interest on account balances, the issue is account balances that are lower than they should be because of...

Since you brought up the subject of the broker keeping the interest, can you comment on the practice of charging a penny/share upfront and rebating the difference between that and the trader's real rate at month's end without credit for any interest?

That's a long standing, and legitimate, beef with Bright. They charge you a penny a share up front, then rebate the difference back to you based on your real rate. However in the meantime that is a sizeable chunk of cash that Bright is able to collect interest on, and money not in your account...

My story is similar to yours and I eventually quite a secure job that I liked to trade full time and have been doing so for 5 years now. In 1993 I got hooked on Canadian junior gold and diamond exploration companies. I had moved to a city that was built on gold mining and the North American...

Try a Canadian broker that does a lot of business with the venture exchange stocks. Cannacord Capital or Yorkton Securities.

No, and I don't have the esignal windows linked either, so I have to type each symbol twice. Old fashioned, I know, but I'm pretty quick at it.

Yes, I took it pre market, so there's no data in the charts or L2's. It's full size, so your browser likely brings it up minimized, but if you zoom it, you can see it full size stretched across 3 screens.

Very boring day, so I thought I'd post a screen shot of my layout for trading openings. I have 5 screens, and this shot is of the lower 3 where I watch and trade all my positions. There are enough charts and level 2 windows to watch 16 positions, but I rarely get that many fills. The...