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The problem with very low volume traders is that the firm still has fixed overhead to turn you 'live'. Software licensing fees, exchange fees, etc. Some people bitch about a software fee or seat fee, but if you trade a couple dozen times a month you really don't have much of a case for...

Yes, even at these 'bargain basement' rates, the Canadian banking oligopoly cannont even come close to IB and the like. You basically have to be ingnorant to what's out there to continue to use them. There is another option besides IB though, they'll be rolling out retail accounts next...

Uhhh..... exsqueeze me? Prop firms have raised rates considerably? I'd estimate commission rates are 50-80% lower than they were 3 years ago.

The year has pretty much sucked for me for openings. January was -$1200, February was +$13,000, March so far is -$3500. I've only missed trading one day, and it would have been a +$5,000 day in January - figures. I think I've only had two or three small losing months in the last 4 years...

The first thing I'd do is work on changing that attitude. All of the best, most successful traders I know are extremely risk averse. The three goals of trading you have to work on, in order of importance, are: 1. preserve your capital 2. earn consistent returns 3. earn large...

Agree 100%. Mike is the real deal and probably the best, most natural trader I've met.

I looked at my stats for mondays going back 8 months (tuesday if monday a holiday). I didn't find a bias for wins or losses with longs or shorts. I did however realize that I have not made money overall on Mondays over that time period. My win rate on Mondays was 58% vs. closer to 65%...

Don, if you are making phone calls anyway... Can you quote the source of the oft-mentioned rule that if your opg order is in less than two minutes before the stock opens, you are not guaranteed an execution if the stock trades through your price. It was mentioned previously in this thread...

I do it with esignal's dde quite a bit. Here's what you do. In cells on the same row put = in one, then RediLINK|'L1'!', then =A1 (the symbol in the original location), then ;LP'. Say you've put those in E, F, G & H. Then in I you type =concatenate(E1,F1,G1,H1) Drag that formula all the...

I had a window cleaning/building maintenance business on the side while I was a firefighter before I started trading full time 4 years ago. I got the itch again last year to have something going on the side. I use prop leverage so I don't need to re-invest my profits into my trading...

There's so many variables that go into deciding if a rate is good or not. How much captital do you have with the firm? Is there a profit split? What kind of buying power do you get? How much overnight leverage can you use? Do you trade the same stock daily, or 100+ symbols? Is there a...

Are you wanting to trade in an office, or remotely (from home)?

Actually, yes it does. As long as your order is in two minutes before the open, if the specialist prints through you, you are absolutely entitled to a fill and a phone call to DOT services will get you your fill.

Yes, it's been quiet out there. February had a great two week period for me, but otherwise, pretty flat. I think I'm up about $10k net ytd with openings. Below my goal pace, but still worth getting out of bed for.

Careful there, as the precedent has been clearly set that short selling is income, not capital gains. I don't know how it works with options or futures, but the spirit of the rule is that you have to own a capital good to claim it as a capital gain when you sell it. A derivities contract? Not...

Industry code 561000 is what I put on my business return. I just call myself a financial trader. You can read up on capital cost allowance (depreciation on hard assets) on the web or get a book from the library, but yes, you can deduct depreciation costs.

I think most nyse traders don't defend it because it's better. They like it because they know how the system works and they work with it to make money. More efficient means harder to make money with. Look at the P/L thread and compare the number of nyse scalpers to ES scalpers.

http://www.cra-arc.gc.ca/E/pub/tp/it479r/it479r-e.html http://www.cra-arc.gc.ca/E/pub/tp/it479rsr/it479rsr-e.html Here's the interpretation bulletin from the gov't.

Yes. File a personal tax return and include a T2124, Statement of Business Activities. Deduct interest costs, subscriptions, hardware, home office expenses, etc

I don't think it's a mess at all. The Canadian system is actually pretty simple and a lot more straightforward than the US system. If you trade full time you are running a business and you claim what you make as income and any expense you incur to earn that income is deductable. If you...