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Those aren't penalties, but tax withheld at source. RRSP withdrawals are treated the same as income from an employer, so the government makes the brokerage withhold some tax. You'll get a form (a T5 I think) to include on your tax return and you'll be credited for the tax you paid on your RRSP...

I have two self directed RRSP's at TD Waterhouse. I don't recall a $5k minimum to start, and as long as you pay the $100 a year fee, they don't care. I've had one of them at close to 0 balance for over a year now. You can over-contribute up to $2k without penalty.

Here's some things I learned or had re-enforced for me regarding opening orders in 2004. Homebuilding stocks will either make you a lot of money, or cost you a lot. There is no middle ground. My two biggest losing days of the year came when I missed or misinterpreted news about this sector...

Traded 222 of 252 days in the year (lost over 3 weeks switching firms) Winning weeks 37 Losing weeks 11 Longest losing weeks streak- 4, Sept 8 - Oct 3 Longest winning weeks streak- 12, Oct 6 - present Winning days 149 Losing days 61 Scratches 12 Volume 6,579,000 Gross $100,287 Net...

Traded all 22 days of the month. 14 winning days, 6 losers and 2 scratches. I count a scratch day as +- $50 net. 105 longs, 154 shorts 150 wins, 20 scratches for a 63% win rate 7.4% average fill rate (using .9% envelope on most stocks) Biggest winning day $3719 net on the 16th...

Aren't Don's minyans exiting for only 5 or 8 cents? The stock's not even at the range I start to peel a little off by then. 6 wins, a loss and 3 scratches today, +.82 gross. December will be my best month ever for openings, I'll post some stats after tomorrow.

Yes, that was a great read on the situation, and a great call. congrats

I got into trading 10 years ago with gold exploration penny stocks on the Vancouver exchange. It was a game full of hucksters and sham artists, but if you knew how to play along, you could make a ton of money. That is, until the greatest bear market to ever hit that sector happened after the...

Wrong, the sick animal MAY have come from Canada. There is not enough data collected yet to determine where it came from.

FYI your source quoted above is wrong. Jesus never claimed to be God, he claimed to be God's son. And not a one-in-the-same kinda thing either, but a seperate being.

Funny how they weren't playing up that angle when the US disallowed imports of Canadian beef after one cow was found here with bse. They were more smug and gleeful about the situation as I recall. What goes around, comes around.

Have you been badly burned by some prop outfit in the past, or can you really not accept that some people make a good living trading remote prop, and like it? You bash prop trading relentlessly on these boards and it sounds like sour grapes to me.

The SSL is available now? Where did you hear that from? Are you affiliated with a particular office? I'm also remote and use both the citrix and vpn on two accounts, but would like to try this new connection.

I know people who've done it. Having a US address may or may not be necessary, depending on which firm you are dealing with. From all the research I've done, taxes are not an issue, file and pay only in Canada. Set up the account in your own name, most prop firms won't accept a corporate...

Will Questrade (or any other canadian broker) let you sell short stocks under $5?

I've preached this same line on these opening only threads for quite some time. This strategy is not a gimme. Don puts a good spin on it, but he will readily admit that it's not for everyone. This has been my bread and butter strategy for the better part of two years, and I have worked...

Why do so many people assume this is the case with prop trading firms? Most of the bigger ones I know of don't retain any of the trader's profits, and do any firms actually pressure their guys to trade more volume than they should? If so that's ludicrous. I have great rates at Assent, keep...

The series 7 license has nothing to do with trading. I think the regulators wanted to give some kind of legitmacy to prop traders and basically said "here's a license that's kind of about the financial markets, get this one". Just a red tape thing, doesn't mean anything once you have it.

I don't usually post individual day's results, but these last few days have been wild. I know from past experience that options expiration week is generally very good for openings. I'm sure all the open interest at the 1060-70 strikes helped yesterday, and today things were rocking again...

Realize that all indicators only come from time, price and volume. I think someone learning to use technical analysis should work with only a basic price and volume chart and use a few simple trendlines and a moving average. Once you can trade succesfully with the basics, then explore the...