The Daytrading & Swingtrading Thread

Discuss your favourite picks, broker, and trading or investment style.

Re: The Daytrading & Swingtrading Thread

Postby Paul64 » 08 May 2012 14:04

My BMOIL RRSP account has been sitting in cash for longer then I care to admit.

Where should you park cash to earn a minor % when not invested in the market?
Paul64
Bronze Ring
Bronze Ring
 
Posts: 28
Joined: 04 Mar 2012 19:34

Re: The Daytrading & Swingtrading Thread

Postby Shakespeare » 08 May 2012 14:06

“Never appeal to a man's better nature. He may not have one. Invoking his self-interest gives you more leverage.” -- R.A. Heinlein, Time Enough for Love.
User avatar
Shakespeare
Diamond Ring
Diamond Ring
 
Posts: 18740
Joined: 16 Feb 2005 00:25
Location: Lethbridge, AB

Re: The Daytrading & Swingtrading Thread

Postby Paul64 » 08 May 2012 15:34

Would it not take a day or two to get your cash out of there when you wanted to make a buy?
Paul64
Bronze Ring
Bronze Ring
 
Posts: 28
Joined: 04 Mar 2012 19:34

Re: The Daytrading & Swingtrading Thread

Postby Shakespeare » 08 May 2012 16:30

T+1 settlement, the HISAs are bought directly in your BMOIL account as if they were mutual funds.
“Never appeal to a man's better nature. He may not have one. Invoking his self-interest gives you more leverage.” -- R.A. Heinlein, Time Enough for Love.
User avatar
Shakespeare
Diamond Ring
Diamond Ring
 
Posts: 18740
Joined: 16 Feb 2005 00:25
Location: Lethbridge, AB

Re: The Daytrading & Swingtrading Thread

Postby deaddog » 08 May 2012 20:49

Paul64 wrote:Would it not take a day or two to get your cash out of there when you wanted to make a buy?

IB pays interest daily on cash over 10K. It’s not much but the money is in the account when you need it.
"In theory there is no difference between theory and practice. In practice there is." Yogi Berra

When I’m wrong, I’m gone and I’m not wrong long!!
User avatar
deaddog
Gold Ring
Gold Ring
 
Posts: 2041
Joined: 19 Jan 2008 20:59
Location: Central BC/Arizona

Re: The Daytrading & Swingtrading Thread

Postby Lazy Ninja » 08 May 2012 21:03

Equity and ETF trades settle three days after you actually make the transaction, whereas HISA transactions settle at the close of the next business day. Therefore, you can make the purchase first, and put in a sell order for the HISA funds after you've made the trade, if you choose to do so. This can be particularly useful when placing limit orders, where you won't be certain of whether you'll get a fill or not.
Lazy Ninja
Silver Ring
Silver Ring
 
Posts: 392
Joined: 03 Mar 2008 20:10

Re: The Daytrading & Swingtrading Thread

Postby Paul64 » 08 May 2012 21:44

Thanks everyone. :thumbsup:

Lazy Ninja wrote:Equity and ETF trades settle three days after you actually make the transaction, whereas HISA transactions settle at the close of the next business day. Therefore, you can make the purchase first, and put in a sell order for the HISA funds after you've made the trade, if you choose to do so. This can be particularly useful when placing limit orders, where you won't be certain of whether you'll get a fill or not.


Really, I would have thought that if I've got all my surplus cash in an HISA in my BMOIL and then tried to buy an Equity that it would would tell me I don't have the cash. If that's not the case though, perfect.

As for IB, I've started playing with their test app. Have the quotes streaming to my laptop & flowing into a database. I've high hopes for it, but it'll be quite some time before I can write the analysis code for timing purchases, and then I still have to figure out the calls to buy/sell in Java. I'm on it though, when I can.
Last edited by Paul64 on 09 May 2012 16:03, edited 1 time in total.
Paul64
Bronze Ring
Bronze Ring
 
Posts: 28
Joined: 04 Mar 2012 19:34

Re: The Daytrading & Swingtrading Thread

Postby Lazy Ninja » 08 May 2012 22:03

Paul64 wrote:Really, I would have thought that if I've got all my surplus cash in an HISA in my BMOIL and then tried to buy an Equity that it would would tell me I don't have the cash.


At TDW, it generates a warning saying your cash balance is insufficient and that you'll have to sell something else to cover the difference (or something to that effect). You can just click agree and proceed so long as the HISA is in the same account that you're placing the trade. Dunno if that works if the HISA is in a different account.
Lazy Ninja
Silver Ring
Silver Ring
 
Posts: 392
Joined: 03 Mar 2008 20:10

Re: The Daytrading & Swingtrading Thread

Postby pmj » 08 May 2012 22:19

Lazy Ninja wrote:At TDW, it generates a warning saying your cash balance is insufficient and that you'll have to sell something else to cover the difference (or something to that effect). You can just click agree and proceed so long as the HISA is in the same account that you're placing the trade. Dunno if that works if the HISA is in a different account.

Can't answer that question - but I can also confirm that TDW's process in an RRSP account will also accept HISA or MMF in a different currency to the proposed trade.
Peter

Patrick Hutber: Improvement means deterioration
pmj
Gold Ring
Gold Ring
 
Posts: 1783
Joined: 27 Feb 2005 19:15
Location: Ottawa

Re: The Daytrading & Swingtrading Thread

Postby Paul64 » 09 May 2012 14:57

pmj wrote:Can't answer that question - but I can also confirm that TDW's process in an RRSP account will also accept HISA or MMF in a different currency to the proposed trade.


Hmm, now that you mention currency, is there an HISA for a US cash balance also? I've learned of Norberts Gambit, but, don't want to keep repeating it.
Paul64
Bronze Ring
Bronze Ring
 
Posts: 28
Joined: 04 Mar 2012 19:34

Re: The Daytrading & Swingtrading Thread

Postby Shakespeare » 09 May 2012 15:02

Did you check the finiki links? High-Interest Savings Accounts - finiki
“Never appeal to a man's better nature. He may not have one. Invoking his self-interest gives you more leverage.” -- R.A. Heinlein, Time Enough for Love.
User avatar
Shakespeare
Diamond Ring
Diamond Ring
 
Posts: 18740
Joined: 16 Feb 2005 00:25
Location: Lethbridge, AB

Re: The Daytrading & Swingtrading Thread

Postby Paul64 » 09 May 2012 16:20

I've look in more detail now :oops: but the US ones are poor - I guess that's just the way it is?

Looks like the best options from within BMOIL are;

MIP710 MANULIFE TRUS INVEST SAVING ACCT ADV CL (1.3% CAD)
IBN200 ICICI HIGH INT INVEST SAV ACC SR A U$ NL (0.25% USD)

I called BMO and they said there's no commision fee for buying/selling these.

Incidentally, these can also be seen in Trading > Fixed Income > GIC Quickpicks > "Looking for an alternative to cash in your portfolio" on the BMOIL site.
Paul64
Bronze Ring
Bronze Ring
 
Posts: 28
Joined: 04 Mar 2012 19:34

Re: The Daytrading & Swingtrading Thread

Postby Pickles » 09 May 2012 16:38

Paul64 wrote:I've look in more detail now :oops: but the US ones are poor - I guess that's just the way it is?

Looks like the best options from within BMOIL are;

MIP710 MANULIFE TRUS INVEST SAVING ACCT ADV CL (1.3% CAD)
IBN200 ICICI HIGH INT INVEST SAV ACC SR A U$ NL (0.25% USD)

I called BMO and they said there's no commision fee for buying/selling these.

Incidentally, these can also be seen in Trading > Fixed Income > GIC Quickpicks > "Looking for an alternative to cash in your portfolio" on the BMOIL site.
Note: you have to have a minimum balance of $25,000 at all times.
Regards,
Pickles
User avatar
Pickles
Gold Ring
Gold Ring
 
Posts: 3612
Joined: 27 Sep 2006 09:44
Location: Toronto

Re: The Daytrading & Swingtrading Thread

Postby Paul64 » 17 May 2012 09:14

Thanks again, I have made the transfer. Of course, now that I have my CAD cash in a HISA while the markets drop, the currency risk is becoming obvious - glad you can all see my luck :roll:

What are the good strategies to avoid a potential drop in the CAD? Just hold USD in a HISA (lower interest rate) or is there something better? Forgive me if I'm on the wrong thread, the continuity here is nice.
Paul64
Bronze Ring
Bronze Ring
 
Posts: 28
Joined: 04 Mar 2012 19:34

Re: The Daytrading & Swingtrading Thread

Postby deaddog » 29 May 2012 10:56

Did a little bottom fishing this morning and started a position in TC @ 3.82.

This is more a fundamental play. TC operates in central BC and has just completed a mine upgrade/expansion at its moly mine and has a copper gold mine scheduled to be in production in the next 2 years. Earnings are down now because of startup costs but should improve as production increases.

I have no stop on this play and will buy more if it dips. Initial target is 4.60 and will only sell a portion at this price. A full position will not exceed 20% of my capital.
"In theory there is no difference between theory and practice. In practice there is." Yogi Berra

When I’m wrong, I’m gone and I’m not wrong long!!
User avatar
deaddog
Gold Ring
Gold Ring
 
Posts: 2041
Joined: 19 Jan 2008 20:59
Location: Central BC/Arizona

Re: The Daytrading & Swingtrading Thread

Postby Taggart » 30 May 2012 02:23

deaddog wrote:
I look at it as one trade out of many. My strategy results in many small losses and I easily accept that I won’t win every trade. It’s the big losses that hurt you, and most big losses start as a small loss.


I'm just starting to read the first trading book (aside from momentum) I've ever read in my life, "The Complete Turtle Trader" (borrowed from the library). No plans to put this book into action, so I treat it as a novel, but what they do in this book, sounds very similar to deaddog's paragraph above in taking losses. I treat the book as an interesting novel.
Taggart
Gold Ring
Gold Ring
 
Posts: 5582
Joined: 05 Dec 2005 08:34

Re: The Daytrading & Swingtrading Thread

Postby deaddog » 31 May 2012 19:55

Picked up some more TC @ 3.42 today.
"In theory there is no difference between theory and practice. In practice there is." Yogi Berra

When I’m wrong, I’m gone and I’m not wrong long!!
User avatar
deaddog
Gold Ring
Gold Ring
 
Posts: 2041
Joined: 19 Jan 2008 20:59
Location: Central BC/Arizona

Re: The Daytrading & Swingtrading Thread

Postby randomwalker » 02 Jun 2012 15:15

Hadn't seen this before and just started watching, looks like it might be entertaining if nothing else.

BBC "reality" show Million Dollar Traders

"Eight ordinary people are given a million dollars, a fortnight of intensive training and two months to run their own hedge fund. Can they make a killing? The experiment reveals the inner workings of a City trading floor. The money is supplied by hedge fund manager Lex van Dam: he wants to see if ordinary people can beat the professionals..."

Million Dollar Traders (Full Series 1 of 3)
http://www.youtube.com/watch?v=v6ciY8u04Kk

Million Dollar Traders (Full Series 2 of 3)
http://www.youtube.com/watch?v=ML4ObTeY ... ure=relmfu

Million Dollar Traders (Full Series 3 of 3)
http://www.youtube.com/watch?v=pWkzAvE5 ... ure=relmfu
randomwalker
Gold Ring
Gold Ring
 
Posts: 1807
Joined: 14 Apr 2005 20:55

Re: The Daytrading & Swingtrading Thread

Postby deaddog » 11 Jun 2012 10:23

Dipping my toes back in the water with the purchase of ONXX @ 47.00

Initial Stop @ 44 Target = 56
Risk is 0.75% of Capital.

This is a momentum play. The above average move(both price and volume) on Friday was the set-up.
"In theory there is no difference between theory and practice. In practice there is." Yogi Berra

When I’m wrong, I’m gone and I’m not wrong long!!
User avatar
deaddog
Gold Ring
Gold Ring
 
Posts: 2041
Joined: 19 Jan 2008 20:59
Location: Central BC/Arizona

Re: The Daytrading & Swingtrading Thread

Postby deaddog » 11 Jun 2012 16:06

JIVE @ 17.00: Stop @ 15.50 Target = 20.40
Risking less than 0.5% of capital.

Another Momo play just before the close;
JIVE had a above average price and volume move and closed in the top half of the move.

I’m fighting the general market so have kept position size low.
"In theory there is no difference between theory and practice. In practice there is." Yogi Berra

When I’m wrong, I’m gone and I’m not wrong long!!
User avatar
deaddog
Gold Ring
Gold Ring
 
Posts: 2041
Joined: 19 Jan 2008 20:59
Location: Central BC/Arizona

Re: The Daytrading & Swingtrading Thread

Postby deaddog » 12 Jun 2012 15:52

Playing some breakouts today
Took positions in QCOR, FSLR, and SIMG.

QCOR @ 48.63 Stop @ 44.50 Target = 58 (Break-out to new high)
FSLR: @ 14.85 Stop @ 12.25 Target = 24 (Bottom Fishing)
SIMG @ 4.32 Stop @ 4.10 Target = 5.22 (Bottom Fishing)
As always risking less than 1% of account value.
"In theory there is no difference between theory and practice. In practice there is." Yogi Berra

When I’m wrong, I’m gone and I’m not wrong long!!
User avatar
deaddog
Gold Ring
Gold Ring
 
Posts: 2041
Joined: 19 Jan 2008 20:59
Location: Central BC/Arizona

Re: The Daytrading & Swingtrading Thread

Postby newguy » 17 Jun 2012 15:11

Tests to see if daytrading is for you.
http://www.marketwatch.com/Story/story/ ... 2128049AD6

I'm a 1 or maybe 2.

newguy
User avatar
newguy
Gold Ring
Gold Ring
 
Posts: 7736
Joined: 10 May 2009 18:24
Location: Montreal

Re: The Daytrading & Swingtrading Thread

Postby deaddog » 18 Jun 2012 12:45

deaddog wrote:Dipping my toes back in the water with the purchase of ONXX @ 47.00

Initial Stop @ 44 Target = 56
Risk is 0.75% of Capital.

This is a momentum play. The above average move(both price and volume) on Friday was the set-up.

Stopped out @ 44.00
Loss of 6.4%
Last edited by deaddog on 18 Jun 2012 14:43, edited 1 time in total.
"In theory there is no difference between theory and practice. In practice there is." Yogi Berra

When I’m wrong, I’m gone and I’m not wrong long!!
User avatar
deaddog
Gold Ring
Gold Ring
 
Posts: 2041
Joined: 19 Jan 2008 20:59
Location: Central BC/Arizona

Re: The Daytrading & Swingtrading Thread

Postby deaddog » 18 Jun 2012 14:41

deaddog wrote:JIVE @ 17.00: Stop @ 15.50 Target = 20.40
Risking less than 0.5% of capital.

Another Momo play just before the close;
JIVE had a above average price and volume move and closed in the top half of the move.

I’m fighting the general market so have kept position size low.


Hit Target @ 20.40. for a 20% gain. :)

SIMG @ 4.32 Stop @ 4.10 Target = 5.22 (Bottom Fishing)


Hit stop @ 4.10 for a 5.1% Loss :(
"In theory there is no difference between theory and practice. In practice there is." Yogi Berra

When I’m wrong, I’m gone and I’m not wrong long!!
User avatar
deaddog
Gold Ring
Gold Ring
 
Posts: 2041
Joined: 19 Jan 2008 20:59
Location: Central BC/Arizona

Re: The Daytrading & Swingtrading Thread

Postby deaddog » 18 Jun 2012 15:56

Picked up 1/3 position in ALGN @ 33.40
Stop@ 31.75 Target @ 38.40
"In theory there is no difference between theory and practice. In practice there is." Yogi Berra

When I’m wrong, I’m gone and I’m not wrong long!!
User avatar
deaddog
Gold Ring
Gold Ring
 
Posts: 2041
Joined: 19 Jan 2008 20:59
Location: Central BC/Arizona

PreviousNext

Return to Stocks, Bonds, ETFs, Funds, REITS and More

Who is online

Users browsing this forum: nile and 4 guests