Prop Firms in/around Vancouver BC.

[NevouS]

Hey,

http://www.taxtips.ca/taxrates/bc.htm

As you can see, the government will take 1/2 your earnings (income - 43.70% cap gains -21.85% )

This is BC + FED.

Who do you prop trade for? Are you switching when you come to Canada?

 

[Sniemiec]

Quote from NevouS:

Hey,

http://www.taxtips.ca/taxrates/bc.htm

As you can see, the government will take 1/2 your earnings (income - 43.70% cap gains -21.85% )

This is BC + FED.

Who do you prop trade for? Are you switching when you come to Canada?

If trading is your main source of income, it is taxed like regular income at the Provincial and Federal rates. Capital Gains only applies to people who don't rely on trading for income.

It's also not a straight 43.7% for over $126,264, the first $35,716 is taxed at 20.06%, the next portion at the next tax bracket and the rest is taxed at 43.7%.

The Cap Gains tax is eligible for 50% of cap gains earned. So if you make $100,000, only $50,000 of it is taxed at whatever rate that falls into (Not sure if it's portioned like the regular income or not).

Correct me if I'm wrong...

 

[IQ139]

Quote from afajtr:

For all those who trade from Vancouver...I will be moving there later on the year from the US, I've been prop trading for 10 years and will like to know how is trading taxed in BC. Spicy, would you share any insights on this topic. I tried to PM you but it seems this feature has not been enabled on your profile.

I am spicy and ETFtrader24, this is my new name

I would bet good money that I am WAY better trader than 99% here

notice how MOMO and other guy said that what I wrote is wet behind the ears

but they didn't say why ???, you poor suckers have no arguments

however

since I am bored, ask me questions and I will answer ........suckers

 

[IQ139]

Quote from Sr.dack:

Hey guys,
I'm going to to throw this question out there. would any be interested in sharing there knowledge/mentoring a 19 year old trying to get his feet wet in the market?
I am quick and have a passion for knowledge.

Thank you

Stephen

P.s I live Kitsilano and have transpiration.

well you are 19, if you work real hard at it, lots of testing and screen time

you can be ME by the time you are 23-24

so you have time, I doubt you'll become ME because you are young and probably don't know how to apply yourself and sacrifice going out etc

but you could prove me wrong maybe

just focus on day trading a single liquid instrument every day, that's how you learn

 

[IQ139]

Quote from Mom0/pH0x:

because it's kind of ignorant, and it strongly implies that you are very inexperienced...

-ph0x (IQ 144 stanford-binet)

well find holes in what I said and I will publicly apologize for THIS

you are an infant ........A POOR INFANT

probably living in slums of Surrey or East hastings Vancouver

 

[IQ139]

Quote from Mom0/pH0x:

wow, you are green... too bad, but ive never been to the great city of vancouver, i'm american, but am in the process of relocating to montreal, and i have watched scalpers have 6 figure days...

you watched that means THEY LIED to you

don't waste my time, learn about DOM and how to use it

 

[IQ139]

Quote from Mom0/pH0x:

lol, too funny, no i definitely watched it, was on the biggest prop desk in chicago at the time... and i'm not too shabby using dom...

ok the only way it can be done is to have a rig like MAESTRO,

if you have bots that scalp 50 instruments min after min, then yes it can be done

however

if you take those 50 instruments and load up the maximum you can and day trade 2-6 times

you can beat scalpers BY FAR

get it ?

 

[IQ139]

Quote from Mom0/pH0x:

whatever you say smart guy...

do you honestly don't understand how I am right

I will if you want me to explain it in detail

 

[IQ139]

Quote from Mom0/pH0x:

sure do have trouble with coherent english to be such a genius... but sure, humor me...

ok, here we go nice and slow so you can understand

scalping allows position size to be 1 / 10th of day trading size that isn't scalping

so if you have money you can always outperform scalping regardless of which instrument is utilized and how many

get it now?

or do you want me to slow down and simplify

 

[IQ139]

Quote from Mom0/pH0x:

yes but scalping you can manage risk better than any other strategy, and can capture well over the daily range, try to do that trading 2x per day... you clearly lack alot of exposure, not trying to flame, but in this business, overgeneralized thinking like that will be the nails in your coffin...

ok so you admitted I am right, good, now we can move on

I didn't say scalping isn't profitable, I said scalping is inferior

also, keep this in mind, there are traders that learned to trade in specific way

and don't care about other ways, you don't have to know everything to be successful trader