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Did anyone ever do trading online? Do you have recommended website? And simulator?
How does the fees are working?
How do you teach yourself? Where are you reading?
Well I,m interested of invested a little amount on a CELI trading account.
thanks in advance!
I recommend questrade. Cheapest trade fees for canada. But Its all DIY, no advisor is there to help you.
For Non-Registered open accounts, Interactive Brokers has the lowest cost. You can trade stocks for 0.5cents per share US stocks & 1cents per share Canadian stocks, with a minimum $1commission. So, if you are trading 200 shares in US stocks, the cost is $1 to buy & $1 to sell..
It's a DIY, so no financial advice is given, you are on your own.
In a volatile markets, the ability to short the markets is a very important tool to generate more profit...
thanks... I,ve heard about some people creating a Celi to trade, this way the money you make isn't taxed. Did you heard of that?
Quote:
Originally Posted by saradouce
CELI is TFSA in English, for anyone who is confused :-)
I have a TFSA trading account with Questrade. Just be careful to keep your costs low because they won't reduce your Adjusted Cost Base since you won't have Capital Gains, and you also can't deduct Capital Losses. In other words, try not to lose money in your TFSA, because then you lose your contribution room... (e.g.: you can't just replenish if your 15,000$ drops to 10,000$, you have to wait until the next year for some new contribution room to open).
Can I ask something? Is online trading the same as Forex Trading, or are they entirely different. I was interested as I have about 1000 dollars to invest... and in the current climate I don't want to get nothing back!! The Forex Trading must have some risks of course, but it may be worth it...
Colin,
I am no expert, but "online trading" means trading online as opposed to calling your full-service broker and having him do the trade for you. What you trade (stocks, ETF, Forex, options) is irrelevant.
Forex trading is trading currencies. Options trading (puts, calls), which is what the website you linked to advocates, is for people who know what they are doing...
You need to learn before you do any of that... or you'll lose all your money real fast.
Be very careful with online trading...... as lot of people learn by losing money.
That doesn't mean people don't make money; but one has to be very very careful to have a winning trade. Its always better to learn from others experience (rather than having your own losing experience).
Present day market volatility is very very high, & its beyond a common investors understanding. What is good today can turn bad the next day.. so be extremely careful in placing your bets.
Most important aspect in trading is "What's the maximum you are willing to loose in any trade".... The lesser the better.
run away from penny stocks,
never take a tip from any one.
Forex account gets wiped out very quickly with small amounts, so rather be safe.
This is the only profession where people want to jump in without any training. swimming theoretically is different then swimming pool & swimming pool is different than swimming in ocean with sharks in it. Trading is like swimming in Ocean.
Define your risks. If you can open the window and throw the money out in the air (no fear to loose) then go ahead, other wise put it in some savings account and forget it.
I have had my ups and downs. I have more of my stock $$ in the TSE index funds - there's no manager - it just follows and invests in the top 20 or so companies. Only good for the long haul and you have to flexible on when to take it out -- last month not so good a time to cash in fyi.
I'm curious if anyone has every moved from TD Greenline over to questtrade(?SP) or another very reasonable broker?
There's no easy money.
All the money earned, is earned through the hard way.
So, its earned "TRY NOT TO LOOSE IT"........ online trading is not for novice, the current markets are run by high frequency trading computers, in the name of liquidity, the market makers are fleecing the traders. One has to be above & ahead of them if you have to make money (which is next to impossible for a novice trader).
Today MF Global filed for bankruptcy. Just imagine if MF Global can loose its shirt, than who else is protected this market.
I was thinking about BMO services, anyone tried them?
PS: Thanks ashedfc for the info!
I online trade and pay 6.95 per transaction. Be careful.
I was thinking of investing in blue chip companies for the dividend pay outs, is that a good idea? I know it's more long term gain over buy and sell...? sort of.
Interactive brokers (online platform) has a $1 trading cost (the lowest ever).. .. but its only for Non-Registered open accounts.