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Thread: Traders?

  1. #1
    Big Leaguer baubau's Avatar
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    Traders?

    Anyone here do any stock or forex trading?

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    Big Leaguer Dick_Pole's Avatar
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    Quote Originally Posted by baubau View Post
    Anyone here do any stock or forex trading?
    Yup. Stocks.

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    All Star NorthOf49's Avatar
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    I trade ETFs.

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    Big Leaguer Dick_Pole's Avatar
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    Quote Originally Posted by NorthOf49 View Post
    I trade ETFs.
    Aren't you one of those guys who are like...14? If so, good for you starting at a young age. Though I personally would steer away from ETFs because they tend to erode with time thanks to management fees and re-balancing (for the leveraged ones). The only time I like ETFs are the inverse ones like FAZ or HOD.to because they are the easiest way to play a bearish side without shorting or put options.

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    All Star TRM's Avatar
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    Quote Originally Posted by NorthOf49 View Post
    I trade ETFs.
    What do you like about the ETFs you are using?
    Quote Originally Posted by Spanky99 View Post
    Yes. There's only one Real min.

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    ECJF Level GD's Avatar
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    Quote Originally Posted by Dick_Pole View Post
    Aren't you one of those guys who are like...14? If so, good for you starting at a young age. Though I personally would steer away from ETFs because they tend to erode with time thanks to management fees and re-balancing (for the leveraged ones). The only time I like ETFs are the inverse ones like FAZ or HOD.to because they are the easiest way to play a bearish side without shorting or put options.
    Once I find a job I'll probably start learning about investing
    Last edited by NorthOf49; 06-03-2016 at 01:58 PM.
    Quote Originally Posted by o2cui2i View Post
    climate change (lol)

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    All Star NorthOf49's Avatar
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    Quote Originally Posted by Dick_Pole View Post
    Aren't you one of those guys who are like...14? If so, good for you starting at a young age. Though I personally would steer away from ETFs because they tend to erode with time thanks to management fees and re-balancing (for the leveraged ones). The only time I like ETFs are the inverse ones like FAZ or HOD.to because they are the easiest way to play a bearish side without shorting or put options.
    I'm 20 now lol. I have a TFSA and invest some of my savings.

    Quote Originally Posted by TRM View Post
    What do you like about the ETFs you are using?
    I like that you can diversify so much with ETFs, and pay much lower management fees (and get much more transparency) than you do with mutual funds. I use mostly big funds that track major indexes.

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    Quote Originally Posted by NorthOf49 View Post
    I'm 20 now lol. I have a TFSA and invest a good chunk of my savings.


    I like that you can diversify so much with ETFs, and pay much lower management fees (and get much more transparency) than you do with mutual funds. I use mostly big funds that track major indexes.
    What provider do you use? iShares? BMO?
    Quote Originally Posted by Spanky99 View Post
    Yes. There's only one Real min.

  9. #9
    All Star NorthOf49's Avatar
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    Quote Originally Posted by TRM View Post
    What provider do you use? iShares? BMO?
    My account is with TD. Right now I hold iShares, but there's no specific reason for that (the basic funds they all offer are very similar).

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    Quote Originally Posted by GD View Post
    Once I find a job I'll probably start learning about investing
    Best advice I can give for the stock market is understand the greater market trends, never get too greedy, and never be afraid to take a loss if the market turns (it can often save you from a much greater loss). Not every trade will be profitable no matter how good you are, so just accept it. In general, avoid small stocks (such as many of the companies on the tsx venture) in a bear market, since when money flows out of the market, the high risk stocks generally take the biggest beating regardless of their potential. In an extended bull market, small stocks can be unbelievably profitable (even in day trading) if you do your homework.

    Dick_Pole mentioned ETFs like HOD (or the inverse HOU when oil eventually starts to climb again). There's also similar ones in gold (such as HGU etc). These can be very profitable choices, but you do have to pay some attention to world events. China's devaluing of their currency for example, could make HGU pretty attractive for the next little while (my opinion only, don't invest in it without doing your own homework on it). Also, ETFs such as HOU are leveraged (can be good and bad), as well as have contracts that roll over month to month if I remember right. This is worth paying attention to, as it can erode some of the value over time.

    As for the FOREX, make damn sure you fully understand how it works, and either play the long term outlooks or have a mechanical system set up. Don't day trade in FOREX unless you have a mechanical system, period (my opinion). The high leveraging also means that you need to be careful in setting stop losses, and only risk a small portion of your available cash as swings near the time of purchase can kill you before you ever make it to the longer term trends.

    I should mention that most FOREX companies allow you to open a trial account, where you can learn how to trade without risking any actual money. I highly recommend doing this before investing in it (it's kinda fun too).
    Last edited by NorthOf49; 06-03-2016 at 01:58 PM.

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  12. #11
    ECJF Level GD's Avatar
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    I have literally no idea what any of that means but when I figure out what it means I'll totally use it!
    Quote Originally Posted by o2cui2i View Post
    climate change (lol)

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    Big Leaguer baubau's Avatar
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    Quote Originally Posted by Dick_Pole View Post
    Yup. Stocks.
    Oh man nice! I use to play stocks but moved full time into forex. Do you day trade or are you swing trader? Technical trader or fundamental?

    Quote Originally Posted by Abomination View Post
    As for the FOREX, make damn sure you fully understand how it works, and either play the long term outlooks or have a mechanical system set up. Don't day trade in FOREX unless you have a mechanical system, period (my opinion). The high leveraging also means that you need to be careful in setting stop losses, and only risk a small portion of your available cash as swings near the time of purchase can kill you before you ever make it to the longer term trends.

    I should mention that most FOREX companies allow you to open a trial account, where you can learn how to trade without risking any actual money. I highly recommend doing this before investing in it (it's kinda fun too).
    Forex is the best (very biased opinion). The biggest thing about Forex is that its open 24 hours 6 days a week. You could literally be staring ate the charts all day where as with stocks once its closed you really don't need to spend all day looking at something that isn't going to change immediately.

    Forex in my opinion is a lot more technical. Don't get me wrong big news like Interest Rate decisions and NFPs will completely demolish any short/medium technical patterns but overall outside of that it follows technical analysis well.

    Agree on demo. Heck if you really want to play with things get something like Forex Tester 2. Its like $150 bucks? but you can trade the markets from 2001. Great way to see how the market changes and backtest your strategy over the years.

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    Quote Originally Posted by baubau View Post
    Agree on demo. Heck if you really want to play with things get something like Forex Tester 2. Its like $150 bucks? but you can trade the markets from 2001. Great way to see how the market changes and backtest your strategy over the years.
    What kind of historical data does it include with it (day, minute, tick, etc)?

  15. #14
    Big Leaguer baubau's Avatar
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    Quote Originally Posted by Abomination View Post
    What kind of historical data does it include with it (day, minute, tick, etc)?
    It has 1 minute to 1 month. I believe you can also get by tick, but I have not used it. The 1 minute is missing some depth here and there in its candles, but anything from 5 minutes up is solid. I mostly trade from the 1 hour, 4 hour and daily time frames so it works well for my testing. If you've traded forex and have used the platform MT4, it is very similar in layout.

    Also to the new peeps, don't get into EAs for automatic trading. Unless you' build one yourself and tested it, they won't work. Haven't used any myself, but tested enough of them to know.

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    Big Leaguer Dick_Pole's Avatar
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    Quote Originally Posted by baubau View Post
    Oh man nice! I use to play stocks but moved full time into forex. Do you day trade or are you swing trader? Technical trader or fundamental?
    I have a dormant Oanda account that I haven't used since 2011. I was a pretty mediocre currency trader who had one awesome night and took my profits and ran. From 2004 to 2008 I was a casual unsuccessful forex trader, turning $10K into $3K. Then one night in October or November 2008 when all hell was breaking loose on the markets, I had a hunch that Goldman and JP Morgan were going to do their classic demolition of the price of silver after hours. So I loaded up on the leverage and shorted all I could on XAG/USD to the point where if silver went up 2-3% I'd probably be wiped out of my remaining $3K. Well I left work at 5, played a game of volleyball and came home around 8 or 9 to see that the price of silver had been slaughtered from something like $15 to $11 in a matter of a few hours and I was up over $50K on my account. Needless to say I closed my position, took out over $40K and slowly eroded away the final $10K in my account once again over the next couple of years lol. They say that 95% of forex traders lose money. Well at least I can say I'm in the other 5% category based on one tremendously lucky and well-timed hunch. I wouldn't recommend doing what I did to anyone though.


    For stocks I'm a swing trader, penny stock pumper/investor looking for microcaps with good fundamentals and financial commentator. I'm mainly into small caps now because big caps, outside of Apple, are so expensive. If someone held a gun to my head and told me to pick one of my holdings that I think is a solid bet to move quite soon, that would be EUO.V. It went up to 17 cents today (near a 52-week high that it achieved a few weeks ago). I've been watching trading very carefully and know that some funds have been buying large positions. It looks like today they are finally letting the stock run. Too bad this conversation didn't arise a couple of days ago, I could have told people about it at 13 cents. I am in since 8 cents. It's a company with growing revenue that wins off a weak Canadian dollar (14% of its 36% revenue growth in Q1 was due to a currency win since its contracts are in USD but it reports in CAD - obviously that's going to be even more pronounced for Q2 and Q3) and pulled a nice profit last quarter. Also has a very solid balance sheet, a rarity for a TSX Venture stock. I recommend reading these two pieces for a primer on the company:

    http://the-gold-report.blogspot.ca/2...e-company.html
    http://the-gold-report.blogspot.ca/2...itability.html

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  18. #16
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    Quote Originally Posted by Dick_Pole View Post
    I have a dormant Oanda account that I haven't used since 2011.
    I haven't poked around in it for quite a while, but doesn't Oanda let you trade any size lots (as low as $1 or something)? Not the worst way to have some fun in it.

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