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Author Topic: Question for Canadian traders
mydogsky
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I have a question for canadian traders. I trade using a TDwaterhouse account (cash account). Is it possible to buy a stock say at 10am and then sell at 3pm? So far, if i buy a stock at 10am I have to wait until the following day to sell. Is there a way to fix this or do any of you canadian traders use a different trader to sell and buy stocks?

Thanks for any info.

sky

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salemm
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MyDogSky,
I'm in Ottawa. I use E*Trade Canada. Never heard of your 'predicament' before. Strange.
I can buy and sell the same stock at least 3 times in one day (and have done so before). No problems there.
Do you have a U.S. money account there? Or do they have to convert CAN dollars for each trade?
Anyway, your situation is not normal... and hardly desirable. You gotta change that.
You need every advantage you can get... and that's a very basic one.
Call your broker and remedy the situation.
salemm.

Posts: 783 | From: Ottawa, Canada | Registered: Feb 2004  |  IP: Logged | Report this post to a Moderator
tqn
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mydogsky,
i am using tdwaterhouse as well. it's expensive though. i can buy and trade on the same day on different stocks without the requirement of cash on hand when i buy. if i have a loss on my trades, be sure to transfer cash in the following trade day or i will get a call from them(eventhough settle day is t+3). if i make money on that day, i dont bother to put cash in to settle my buys.

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Come Q, the kid needs back-to-school shopping!

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tqn
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quote:
Originally posted by salemm:
MyDogSky,
I'm in Ottawa. I use E*Trade Canada. Never heard of your 'predicament' before. Strange.
I can buy and sell the same stock at least 3 times in one day (and have done so before). No problems there.
Do you have a U.S. money account there? Or do they have to convert CAN dollars for each trade?
Anyway, your situation is not normal... and hardly desirable. You gotta change that.
You need every advantage you can get... and that's a very basic one.
Call your broker and remedy the situation.
salemm.

tdwaterhouse will give you both us$ and can$ account. you can transfer in $$ within second from your saving/cheque to your trading account and vise versa. as well, convert currency between us$ and can$ account. i find it handy.
just curious, how do etrade charge you commission?

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Come Q, the kid needs back-to-school shopping!

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salemm
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$26.99 per trade... for a regular account.
If you qualify for PowerEtrade(large amount of funds or very frequent trading) you get a discount on the commissions at the end of that quarter. They have a complicated way of calculating it... but it comes out a little cheaper. Even MUCH cheaper if you trade the large caps like TSE, NASD, NYSE, etc...
Still... we pay much more here in Canada. Too bad.
salemm.

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DOUBLE L
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I racked up $800 in commisions last month at td buying stock in Canada. Does anybody have a broker that will let me buy from the U.S but not charge me a ton of money. I have been playing on the cnq exchange.

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Amazing how much time we spend looking for the truth but never spend the time to get to the point.

Posts: 1164 | From: KANSAS CITY | Registered: Aug 2003  |  IP: Logged | Report this post to a Moderator
Ynginvestor12
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come to the states you wont have that Problem
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Bryan_J
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Just a suggestion, I have no idea if this would work...

Can you open a US checking account and use a broker like Ameritrade or Scottrade? They only charge about 10 bucks per trade and it's done online.

Hope this helps, but I doubt it...

Have a good eve.

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zoltan
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quote:
Originally posted by mydogsky:
I have a question for canadian traders. I trade using a TDwaterhouse account (cash account). Is it possible to buy a stock say at 10am and then sell at 3pm? So far, if i buy a stock at 10am I have to wait until the following day to sell. Is there a way to fix this or do any of you canadian traders use a different trader to sell and buy stocks?

Thanks for any info.

sky

Im on TD Canada and iam having the same problem....If you check your order list the order goes through but it doesn't show up in my securities or cash menu? Maybe one of us should call them....If you figure something out gimme a msg.

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Dead Kennedys-"Give me convenience or give me death"

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BCmouser
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I use TD waterhouse as well. You can buy and sell the same day on a cash account. Once your order is filled you have to punch in the symbol because it will not show on your holdings til the next day. However you can sell that stock by hitting sell after you punch in the symbol. As long as you dont try to sell more stock than what you have purchased.

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The Mouse

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DOUBLE L
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I can not even see the Canada side of my account.I just call the Canada side at td and they have been helpful. They did let my margin ride for a few extra days. They also converted at a higher rate for me. I do live in the states so it sucks using them. One trade cost over $300 but I like the stock so I will play. Tnq you have used your margin and never had to fund the trade. I have not tried it without cash avail. to cover the whole cost of trade. I was going to try and buy $10,000 of a little gem the day before news comes out and flip the next day for 20% without ever putting any cash in. They did let a Canada trade ride for a few weeks. The stock is a otc and under .70 any ideas. My td account is not filled with cash I just opened it to buy one stock. I could just call them I guess. If it jumps the way it should if they liquidate my stock I will still make 20%

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Amazing how much time we spend looking for the truth but never spend the time to get to the point.

Posts: 1164 | From: KANSAS CITY | Registered: Aug 2003  |  IP: Logged | Report this post to a Moderator
   

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