AV's Coin Posted May 25, 2020 Author Share Posted May 25, 2020 1 hour ago, ThatPope said: Anyone trade with their TFSA? I'm curious how much trading you can do in it before people come knocking, or if small time traders even register on their radar... here is some info I just watched. Link to comment Share on other sites More sharing options...
yoshiyoshi Posted May 25, 2020 Share Posted May 25, 2020 (edited) that was interesting. i still would prefer some metrics i could point towards to determine where i stand or will stand. Ive been trading for about 2 weeks now and have done maybe 15 trades so averaging out to about 1 a day. Thats a lot more than the non day trader example but significantly less than what the video said for a day trader. Oh and im at about -2500 for income (thanks vtiq :P) Edited May 25, 2020 by yoshiyoshi meow Link to comment Share on other sites More sharing options...
Warhippy Posted May 26, 2020 Share Posted May 26, 2020 2 hours ago, I.Am.Ironman said: I remember TGODs IPO a few years ago...I think it was around $5 per share in the heart of the cannabis boom. I rode the wave of the cannabis stocks. I had stocks that 5x my initial investment. It paid for my grad school tuition basically and allowed me to graduate with no debt... no money but no debt lol That said, I don't see myself going back into that sector anytime soon. It is so volatile and unpredictable, plus there are so many restriction put on dispensaries that it may be limiting the growth of some of the suppliers I'll be watching the cannabis medical aspect very closely with rumours of research in to cannabis fighting Covid someone will make bank on that Link to comment Share on other sites More sharing options...
nuckin_futz Posted May 26, 2020 Share Posted May 26, 2020 2 hours ago, ThatPope said: This is true, however there is some vague wording around if you are conducting a 'business' in your TFSA (making too many trades/making too many gains) that you could liable for tax owing on income earned in that account... I'm curious if someone making say 10-20 trades per month on a very modest scale (trading $1000's not tens of thousands) would be an issue or not. I have no idea where there threshold is or even if there is an official one. In the states for purposes of enforcing the Pattern Daytrader Rule. They consider making 3 round turns in a 5 day rolling period to be a 'day trader'. 2 hours ago, Duodenum said: Ah yea I see it in the 2019 budget...conducting a business in the TFSA..and they consider (successful) day trading to be conducting business. Lame. Yeah that's what I was referring to. Just never bothered to look into it fully. Link to comment Share on other sites More sharing options...
AriGold2.0 Posted May 26, 2020 Share Posted May 26, 2020 5 hours ago, yoshiyoshi said: so was this planned as a day trade or did it just not take off as expected? Yes, I'm more of a day trader then a swing player. 5 hours ago, NucksPatsFan said: Not speaking for Ari, but from what I read, a lot of investors were disappointed that the news of Shoppers didn't result in a big bump. Yeah they were but they have their earnings call Wednesday and nobody has any idea where it's going to go. It's literally a coin flip. TGOD isn't well know to be good with their cash. 4 hours ago, I.Am.Ironman said: I remember TGODs IPO a few years ago...I think it was around $5 per share in the heart of the cannabis boom. I rode the wave of the cannabis stocks. I had stocks that 5x my initial investment. It paid for my grad school tuition basically and allowed me to graduate with no debt... no money but no debt lol That said, I don't see myself going back into that sector anytime soon. It is so volatile and unpredictable, plus there are so many restriction put on dispensaries that it may be limiting the growth of some of the suppliers TGOD has wide open doors from almost everybody.. Gov grants, health Canada, new warehouses etc. They have been their own worst enemy, can't manage their money. Link to comment Share on other sites More sharing options...
AriGold2.0 Posted May 26, 2020 Share Posted May 26, 2020 (edited) Currently hold a position on BIOC to unload this week hopefully. Tomorrow morning will buy dips on MARK, FRSX and BNGO. My purchased will be day trades for the most part. Edited May 26, 2020 by AriGold2.0 Link to comment Share on other sites More sharing options...
AriGold2.0 Posted May 26, 2020 Share Posted May 26, 2020 FRSX Earning Report... https://ir.foresightauto.com/wp-content/uploads/2020/05/First-Quarter-2020-Financial-Results.pdf Do you see what I see ? They confirmed they're working with a fairly big company... Link to comment Share on other sites More sharing options...
NucksPatsFan Posted May 26, 2020 Share Posted May 26, 2020 1 hour ago, AriGold2.0 said: Currently hold a position on BIOC to unload this week hopefully. Tomorrow morning will buy dips on MARK, FRSX and BNGO. My purchased will be day trades for the most part. Think MARK will dip? There's been SO much pumping on social media all weekend Link to comment Share on other sites More sharing options...
NucksPatsFan Posted May 26, 2020 Share Posted May 26, 2020 Relive and ACB hybrid-merging for ACB to enter US market Link to comment Share on other sites More sharing options...
Lancaster Posted May 26, 2020 Share Posted May 26, 2020 7 hours ago, nuckin_futz said: I am not certain but my understanding is that once your TFSA activity exceeds your main source of income they consider your TFSA gains as income. Perhaps someone else can shed more light on this? Perhaps @Lancaster ? As what @Duodenum said. If you're using a TFSA for day-to-day trading... like what a professional trader/broker would be doing, then CRA might clamp down on you. If you are running it like a business... then it isn't really a personal investment account anymore. If you're just buying stuff here and there and making some money, there's no issue really. In my line of work, I do see client's TFSA accounts that are easily 6 figures (sometimes 7 figures). That being said, for 99.999% of the people using it, there should be no issues. Even if you purchased $1000 worth of $0.01 shares and it suddenly became the next Google.... you're in the clear. 1 Link to comment Share on other sites More sharing options...
NewbieCanuckFan Posted May 26, 2020 Share Posted May 26, 2020 6 hours ago, Lancaster said: As what @Duodenum said. If you're using a TFSA for day-to-day trading... like what a professional trader/broker would be doing, then CRA might clamp down on you. If you are running it like a business... then it isn't really a personal investment account anymore. If you're just buying stuff here and there and making some money, there's no issue really. In my line of work, I do see client's TFSA accounts that are easily 6 figures (sometimes 7 figures). That being said, for 99.999% of the people using it, there should be no issues. Even if you purchased $1000 worth of $0.01 shares and it suddenly became the next Google.... you're in the clear. Doesn’t sound too much different on how the CRA would interpret ones actions in day to day trading to determine whether a transaction would be considered a capital gain (and give the benefit to the taxpayer of more favorable tax treatment) vs considering the constant churning and burning as income/self employment type of income rather than a capital gain(s). But I’m no tax expert....heh, certainly no investment expert. Link to comment Share on other sites More sharing options...
AriGold2.0 Posted May 26, 2020 Share Posted May 26, 2020 8 hours ago, NucksPatsFan said: Think MARK will dip? There's been SO much pumping on social media all weekend Everything dips.. Link to comment Share on other sites More sharing options...
Duodenum Posted May 26, 2020 Share Posted May 26, 2020 O man, that MARK pre-market, love it. Link to comment Share on other sites More sharing options...
yoshiyoshi Posted May 26, 2020 Share Posted May 26, 2020 EVFM has dropped pre-market....to go for it or not go for it, that is the question Link to comment Share on other sites More sharing options...
NucksPatsFan Posted May 26, 2020 Share Posted May 26, 2020 Come on MARK.... dip down to the 2.50's.. Link to comment Share on other sites More sharing options...
Boudrias Posted May 26, 2020 Share Posted May 26, 2020 8 hours ago, Lancaster said: As what @Duodenum said. If you're using a TFSA for day-to-day trading... like what a professional trader/broker would be doing, then CRA might clamp down on you. If you are running it like a business... then it isn't really a personal investment account anymore. If you're just buying stuff here and there and making some money, there's no issue really. In my line of work, I do see client's TFSA accounts that are easily 6 figures (sometimes 7 figures). That being said, for 99.999% of the people using it, there should be no issues. Even if you purchased $1000 worth of $0.01 shares and it suddenly became the next Google.... you're in the clear. I have never heard anything so farcical as CRA penalizing people who make to much money. What am I saying? Of course they do all the time. You got the money and we want our cut. TFSA's were to be a tax free tool to supplement RRSP's in retirement planning. It should absolutely make no difference in how much money you make. What the government is saying we want to be your investment advisor. Yes, buy a bank stock and a buy a tele stock, throw in some ENB and sit on it. Hit a home run on a mining stock and we get a cut. What BS this country is turning into. Link to comment Share on other sites More sharing options...
CBH1926 Posted May 26, 2020 Share Posted May 26, 2020 Southwest Airlines is taking off! Link to comment Share on other sites More sharing options...
NucksPatsFan Posted May 26, 2020 Share Posted May 26, 2020 oh my god just drop already Link to comment Share on other sites More sharing options...
yoshiyoshi Posted May 26, 2020 Share Posted May 26, 2020 alot of things im watching are dropping from where they opened today Link to comment Share on other sites More sharing options...
yoshiyoshi Posted May 26, 2020 Share Posted May 26, 2020 EVFM is below 6 right now. God im glad i held back from buying right away now. Link to comment Share on other sites More sharing options...
Recommended Posts
Please sign in to comment
You will be able to leave a comment after signing in
Sign In Now