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Hello everyone. I am new to this board and to the world of stock trading. It has always been something I have been interested in so have started doing research in the last week about how markets work and getting a trading account set up. I would like to thanks everyone for the info I have learned so far and hope to be able to contribute in the future. I still have not purchased my first stock yet but will hopefully in the next couple weeks as I keep researching everything. It's funny I have been on this board for over a week now and this is the first time I have come to the Canadian board. I spent all my time on the micro penny stock forum. If anyone has any good advice or places to learn proper ways to invest and read things it would be much appreciated. Thanks to everyone. I am Canadian!!!!!!!!!
Posts: 115 | From: Vancouver,B.C. Canada | Registered: Mar 2004
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posted
I opened an action direct acct with the royal bank. It should be ready to start by friday they told me. Who does everyone deal with to do the trades. Was this a good move or is there better places to use with lower fees? I just can't get enough info right now. Trying to read everything. Anyone know of any good websites to learn how to read all the graphs and different trends? Thanks
Posts: 115 | From: Vancouver,B.C. Canada | Registered: Mar 2004
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The funny thing about Canadian banks who offer a trading service is that they tend to have little problems.
Some don't trade pinksheet stocks by internet but accept trades over the phone, the problem with that is the fee is a minimum of $ 50 USD because it's a us stock.
The average fee is $ 28 ish (in the currency of the stock)
After that they have fees of 1.5% to 3.0% of the trade ammount plus a 3 cent per share fee....ya I know, ridiculous.
The kicker is that as far as I know, no american brokerage co. will hold a canadian account.
[This message has been edited by Chart Chaser (edited March 08, 2004).]
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Well isn't getting rich everyones goal....lol Well I guess not by trading penny stocks.. I was talking with a few friends and they said either use TD or Royal. Since all my accounts are with royal I went with them.... see how it pans out. The lady told me I could trade US stock with this account and use Canadian dollars. who knows if she knew what she was talking about. Do most of you guys trade Candadian or U.S. stocks? I really hate not understanding all the stock stuff. I don't like not knowing about it all and everything seems overwelming with all the different words and lingo used. Well I guess it will all come in time. Never thought I would have the first day of school feeling again at 30....lol thanks.
Posts: 115 | From: Vancouver,B.C. Canada | Registered: Mar 2004
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posted
Wayne, Actually you can get rich playing pennies, but you can also lose it all. The nice thing about pennies is if you do it right you can make more money faster and cheaper than with big dollar stocks. You just have to watch them everyday if not all day. Consider it a job, 8 hours a day 5 days a week, the pro's are that you work from home or wherever you want and do it in your underwear...lol
The lady was right, you can trade US stocks with Canadian dollars, BUT pinksheets are not exactly the same as US stocks. They are the stocks at the bottom of the barrel and borderline unlisted. Some brokerages don't recognize them as having any value.
Most of us trade (US Nasdaq Pinksheet Otcbb stocks) aka : penny stocks,
Feel free to ask short specific question, they are easier to answer quicker.
Lingo, charts, DD , TA , MM , ect.
[This message has been edited by GREGDOGG (edited March 08, 2004).]
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Thanks for you help guys... I already feel like part of the team. I can't wait to start getting into it. I am printing off 1 year charts from a bunch of different stocks that I wrote down the last few days. let me know what you guys think. I won't buy anything probably this week but hope to soon. ADPR PAVP NNCO QBID CMKM PCBM GTEL Not sure if I am on the right track or not or if I will be able to trade these with my account. Posts: 115 | From: Vancouver,B.C. Canada | Registered: Mar 2004
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Sorry for all the questions guys. I really appreciate the info you have given me. What does the .OB or .PK stand for on the different symbols? I assume it refers to what index they are on but am not sure. Can you tell if they are pink sheets by this or only by the trading price?
Posts: 115 | From: Vancouver,B.C. Canada | Registered: Mar 2004
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posted
I think they are abrieviations for long ticker symbols that have a simmilar ticker symbol as another big dollar stock. But I could be wrong.
Most tickers with funny letters I stay away from because they can be hard to follow and if it's hard to find a stock it can be hard to trade or get others interested in.
Most Canadian stocks have funny letters around them..
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Hi waynetrades I use TD and find I have no troubles at all. Really good when you bank there as well as it is easy to move money in and out.Also trade pinks and otcbb with no trouble. Have good research and dd as well.
Posts: 443 | From: Valemount | Registered: Dec 2003
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Actually bought and sold NNCO back a couple of months ago and it treated me very good. Over 100% profit. And I have been eyeing it up again however will have to sell some others before I can get back in. My two largest holdings right now are KWNS.ob and PTE on the TSE. Might want to have a look at those two. Also abbreviations PK = pinksheets and OB or OTCBB mean over the counter bulletin board.
[This message has been edited by BCmouser (edited March 04, 2004).]
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I am relatively new to allstocks, post regularly on stockhouse; stockhouse is good but full of BSers, promoters, and lost souls who don't even play the market. I trade with TD waterhouse and am totally satisfied with it. I buy 100% Canadian stocks, not because I am nationalistic, but the CDN. market is small enough that I can follow all sectors. I mainly play the mining game, and the best mining companies are listed in Canada. I never started consistently making money until I started reading up on technical analysis. Knowing 50/200 day moving averages and how to use them, volume price relationships, etc. Keeps me out of bad situations. Never be anxious to buy, never chase a stock:You will never run out of opportunities, but you may run out of money.
Posts: 268 | From: Edmonton, Canada | Registered: Feb 2004
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Thanks for all the great info... I can't wait to get started... My account still hasn't openned. They figure it should be either tommorow or monday.. It's killing me. Probably better this way so I can keep tracking them and not use real money...lol I have to say the people I have chatted with so far on allstock are very knowledgable and seem like good people....Keep up the good work everyone. I was wondering how long most people hold on to a stock. Everything I read is usually buy and sell that day. Is this true or do you usually sell within a week to two? How much does everyone try to make on their money before they flip? thx Wayne Happy investing.
Posts: 115 | From: Vancouver,B.C. Canada | Registered: Mar 2004
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WELCOME WAYNETRADES YOU WILL SEE LOTS OF GOOD AND BAD ADVICE ON ALLSTOCKS SO DO YOUR OWN DD(DUE DILIGENCE) AND GO WITH WHAT FEELS RIGHT FOR YOU AS WELL AS WHAT THE CHARTS AND COMPANY PRS TELL YOU. CMKM IS VERY VERY RISKY THERES A HUGE HISTORY OF IT ON THE UNDER .10 BOARD CHECK IT OUT BEFORE PUTTING YOUR CASH IN IT. I MOSTLY TRADE DIAMOND EXPLORATION COMPANIES I WORK IN THE INDUSTRY SO HAVE LOTS OF FACTS AND FIGURES I CAN SHARE BUT I WILL NOT TELL YOU WHICH STOCKS TO BUY,GOOD LUCK IN YOUR TRADING. Roy
Posts: 339 | From: Seattle,WA, USA | Registered: Sep 2003
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posted
Thanks microdaytrader. The info was good. I don't know much about the different things on the market like mines and things so trying to read everything and find good places to learn stuff. I am mostly doing this as a hobby as I work 12hr a day already. I would love any info you could give me on diamond stuff or places that I could find info. Thanks for the help...Wayne
Posts: 115 | From: Vancouver,B.C. Canada | Registered: Mar 2004
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[QUOTE]Originally posted by waynetrades: [B]Thanks microdaytrader. The info was good. I don't know much about the different things on the market like mines and things so trying to read everything and find good places to learn stuff. I am mostly doing this as a hobby as I work 12hr a day already. I would love any info you could give me on diamond stuff or places that I could find info. Thanks for the help...WaynE
posted
Don't worry GREGDOGG your still one of the most informative guys on the board also... Don't be jelous. We all still think highly of ya.. Well thanks again to everyone who posted in my thread as you guys really got the ball rolling for me and I have learned a ton already and can't wait to learn more. I am very impressed with some of your picks also as they do seem to keep going in the right direction to make everyone money......thx. Wayne
Posts: 115 | From: Vancouver,B.C. Canada | Registered: Mar 2004
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posted
Thanks Wayne, and yes I'm jelous....lol,sobb
I must have " Mad Cow Desease" .....lol,sobb
Hey, I see your in Vancouver, I grew up there, I now reside in Kamloops but am looking to move...maybe Kelowna or Tofino... Do some surfing...buy some real-estate
posted
MORE RANDOM THOUGHTS: I buy a stock, with the intention of holding it for a few weeks to a year, it does not always work out that way. Day trading is good for some people, but does not suit my personality. KNOW THYSELF!!!!! Over the past year, I have been focusing on the psychological aspects of the market. Lots of great players I know have read Alexander Elder's "Trading For a Living". A great read, with good insights. I personally know some stock promoter types, many post on Stockhouse. Most claim to have the inside scoop, but are complete failures in life. They could not analyze a stock if their life depended on it.For these people, life is a zero sum game. There are some knowledgeable people who use the chatrooms, but ignore those who claim to have the inside scoop, they are most always full of BS. The best way to analyze a stock is to look at a chart, if you like the chart, then explore the fundamentals further. The bottom line, on any message board, you will eventually find the people who have integrity and know what they are talking about, and you can help each other out.
Posts: 268 | From: Edmonton, Canada | Registered: Feb 2004
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Can someone explain to me how shorting works. I just finished having a conversation with a friend and he was telling me how he does shorting in the market and he tried to explain it to me but I didn't understand...thx.
Posts: 115 | From: Vancouver,B.C. Canada | Registered: Mar 2004
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posted
Thanks Gregdogg. That was a good article. Still have some questions but at least covered most of the basics. man so much to learn!!! Thanks for the help guys. Keep up the advice or thoughts as they are good reads for us newbies.
Posts: 115 | From: Vancouver,B.C. Canada | Registered: Mar 2004
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posted
FUN site: http://www.stockta.com They do a decent job of technical analysis, although they err on the optimistic side. Canadian stocks end in ".c" eg. abx.c rcw.c btp.c Check it out. Its FREE. Also, I love all the free stuff on the net, but one thing I pay for is a basic membership to www.stockwatch.com A basic membership costs less than $6/month. I can create my own linear/log charts for all Cdn/US stocks. Also the analytics section is great, I can analyze block trades, etc. Lots of free stuff on site as well.
Posts: 268 | From: Edmonton, Canada | Registered: Feb 2004
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Yes, Gregdogg, I am a regular poster on Stockhouse. (Member since Oct03)And I like stockcharts as well. I find a chart looks different on every site, so you may see something you did not notice somewhere else. For my level 2 and real time, I use my broker, TDWaterhouse. Everything is free; real time, charts, news, research, except I pay $31.00 a month for level 2 for all Cdn. stocks. I do not have level 2 for US stocks, maybe I should get it. Am I getting a good deal for $31 a month for L2? On stockhouse, I am "mediablitz". I post only when I believe I have some valuable insights. Main posts are BTP, PDL. The PDL site has been taken over by total dorks, so I will not be posting there anymore. On Stockhouse, I notice the bad posters and BSers have been "ignored" by many people. Some people are ignored by almost 100 people, this tells you about them. Right now, I own just few stocks. May be picking up some SE or RCW, maybe even more BTP. Have had good luck with diamond stocks over the years. Also, the only stock I trade frequently is Biomira, (BRA , BIOMF); only because it has an office in Edmonton and there are articles in the paper almost every week, it is easy to follow, and liquid. I have been following Biomira for 15 years and am very comfortable with it. One successful trader I know just follows and trades two stocks, BMO and ABX. Does his charting by hand.
Posts: 268 | From: Edmonton, Canada | Registered: Feb 2004
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posted
Hey Wayne....where are ya?????? QBID's on the move.... .003 could go to .006
Posts: 1171 | From: B.C. CANADA | Registered: Feb 2004
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Well thanks again to everyone who posted in my thread as you guys really got the ball rolling for me and I have learned a ton already and can't wait to learn more. I am very impressed with some of your picks also as they do seem to keep going in the right direction to make everyone money......thx. Wayne
