Investing in the stock market - Discussion

[nuckin_futz]

1 hour ago, NucksPatsFan said:

Questtrade won't let me buy. Says its an OTCN? 

OTC stocks are typically garbage that do not or cannot meet the listing requirements of NYSE, Nasdaq etc. Commonly referred to as Pink Sheets or "Pink Sh*ts".

 

53 minutes ago, Warhippy said:

what?  How?

 

I have a TD web broker account and it refuses to allow me to buy it.  Walk me through your steps because that's a fast riser and if the FDA approves they'll be a 5x earner

 

I assume somewhere in the account settings you might have to acknowledge that you are aware trading OTC stocks is more risky than usual and that it's basically a free for all with no rules and no regulation. And request a trading permission. Just a guess though.

 

That's not to say money cannot be made trading these things.

Edited April 22, 2020 by nuckin_futz

[Duodenum]

9 minutes ago, nuckin_futz said:

OTC stocks are typically garbage that do not or cannot meet the listing requirements of NYSE, Nasdaq etc. Commonly referred to as Pink Sheets or "Pink Sh*ts".

 

I assume somewhere in the account settings you might have to acknowledge that you are aware trading OTC stocks is more risky than usual and that it's basically a free for all with no rules and no regulation. And request a trading permission. Just a guess though.

 

That's not to say money cannot be made trading these things.

Or put in a limit order on the ask. 

[Warhippy]

1 hour ago, nuckin_futz said:

OTC stocks are typically garbage that do not or cannot meet the listing requirements of NYSE, Nasdaq etc. Commonly referred to as Pink Sheets or "Pink Sh*ts".

 

I assume somewhere in the account settings you might have to acknowledge that you are aware trading OTC stocks is more risky than usual and that it's basically a free for all with no rules and no regulation. And request a trading permission. Just a guess though.

 

That's not to say money cannot be made trading these things.

It says I have to call in as it's not allowed at all.

 

Weird

[NucksPatsFan]

2 hours ago, Warhippy said:

what?  How?

 

I have a TD web broker account and it refuses to allow me to buy it.  Walk me through your steps because that's a fast riser and if the FDA approves they'll be a 5x earner

 

Yeah both Trade and TD didn't let me :/ damn, up 48%

[DADDYROCK]

You should ask some of the politicians from the USA,they seem to do great on the stock market after attending special meetings as the COVID19 pandemic hits America.

Insider trading and no consequences WOW how corrupt is that.The TRUMP ADMINISTRATION,just one crime spree after another.

[AriGold2.0]

5 hours ago, Warhippy said:

what?  How?

 

I have a TD web broker account and it refuses to allow me to buy it.  Walk me through your steps because that's a fast riser and if the FDA approves they'll be a 5x earner

 

Sorry bro, long day.

 

I called in to the number that showed on the screen when it said I couldn't buy. They asked me a few questions and then made the purchase. It was more expensive then usual for some reason. I'm very very new to this but my buddy does this for a living and is throwing me a bone once in a while. DECN was 1 of them.

 

Stay tuned for more but I doubt they all hit like this one did today.

[CBH1926]

5 hours ago, nuckin_futz said:

OTC stocks are typically garbage that do not or cannot meet the listing requirements of NYSE, Nasdaq etc. Commonly referred to as Pink Sheets or "Pink Sh*ts".

 

I assume somewhere in the account settings you might have to acknowledge that you are aware trading OTC stocks is more risky than usual and that it's basically a free for all with no rules and no regulation. And request a trading permission. Just a guess though.

 

That's not to say money cannot be made trading these things.

I can buy it but it has to be limit order, otherwise is a no go.

[Warhippy]

33 minutes ago, AriGold2.0 said:

Sorry bro, long day.

 

I called in to the number that showed on the screen when it said I couldn't buy. They asked me a few questions and then made the purchase. It was more expensive then usual for some reason. I'm very very new to this but my buddy does this for a living and is throwing me a bone once in a while. DECN was 1 of them.

 

Stay tuned for more but I doubt they all hit like this one did today.

As it's in USD you'll pay more via the TD brokerage.

 

But that's it eh, you had to call in for them to release the availability for you online?

 

I actually read about DECN seeking FDA approval for fast tests.  It's companies like this if you read the small stories in business blurbs that will make you bank if you time it right.

[CBH1926]

47 minutes ago, nuckin_futz said:

 

It's slowly coming back to me. What's coming back is why I swore off trading anything on this exchange about 7 years ago. The OTC market is totally unregulated. There basically are no rules. The executions can fairly be described as sanctioned rape. Market makers have no obligation to fill your order or even treat it fairly. This is probably why TD and other brokers make you phone in so they can execute the order for you with minimum rape. If you want an execution be prepared to cross the market and pay up. 

 

It's common place to see your limit orders traded through and only filled when it's in the market maker's interest. As I recall, it's also common place to have your requests to cancel orders completely ignored for 5 minutes. So the market maker has a 5 minute window to decide how to best stick it to you.

 

Neither of the 4 prop firms I traded at ever allowed access to this exchange. Reason being that it was a total scam.

 

Just know what you're trading and what the rules are. Before it gives you a headache and costs you money.

For me OTC is like Wild West or a trip to Turkish prison wearing nothing but bath towel.

I was looking it up since it was brought up but I hate super volatile stocks.

My portfolio is rather boring but it’s still up for the year, even in this $&!#ty market.

 

[Duodenum]

10 hours ago, nuckin_futz said:

 

It's slowly coming back to me. What's coming back is why I swore off trading anything on this exchange about 7 years ago. The OTC market is totally unregulated. There basically are no rules. The executions can fairly be described as sanctioned rape. Market makers have no obligation to fill your order or even treat it fairly. This is probably why TD and other brokers make you phone in so they can execute the order for you with minimum rape. If you want an execution be prepared to cross the market and pay up. 

 

It's common place to see your limit orders traded through and only filled when it's in the market maker's interest. As I recall, it's also common place to have your requests to cancel orders completely ignored for 5 minutes. So the market maker has a 5 minute window to decide how to best stick it to you.

 

Neither of the 4 prop firms I traded at ever allowed access to this exchange. Reason being that it was a total scam.

 

Just know what you're trading and what the rules are. Before it gives you a headache and costs you money.

O I'm not gonna trade penny stocks, too volatile and too many scams. DECN looks like it was a good one though.

[AriGold2.0]

48 minutes ago, Duodenum said:

O I'm not gonna trade penny stocks, too volatile and too many scams. DECN looks like it was a good one though.

She's having a day today.. I almost doubled my investment in 1 day.. Sold off at $.46

 

All she wrote..

Edited April 23, 2020 by AriGold2.0

[HI5]

Anyone here with level 2 access for tsx?

[AriGold2.0]

Would love to get some opinions on Suncor TSX:SU 

 

I'm thinking of putting in around $10,000. They have alot of irons in the fire and for the longterm plan they should be a homerun.

 

https://ca.finance.yahoo.com/news/oil-price-war-ends-suncor-131338490.html

https://www.fool.ca/2020/04/17/could-warren-buffett-be-buying-more-suncor-energy-tsxsu-stock/

[Boudrias]

Bought GLW and RDS.A today. A little tech and big oil. Corning is a top glass researcher. RDS pays 11% div. Shell is a large investor in alternative energy. Years ago when I was involved with them they took interest in a wood pellet plant up near PG if I remember right. 

 

This might not be the low but if I can buy international companies with decent divs I am looking hard. I do expect the CDN $ to drop to 0.60 cents. 12 of my 18 Cdn listed stocks either have their divs paid in USD or have significant  revenue streams outside Canada. 

[Boudrias]

5 minutes ago, AriGold2.0 said:

Would love to get some opinions on Suncor TSX:SU 

 

I'm thinking of putting in around $10,000. They have alot of irons in the fire and for the longterm plan they should be a homerun.

 

https://ca.finance.yahoo.com/news/oil-price-war-ends-suncor-131338490.html

https://www.fool.ca/2020/04/17/could-warren-buffett-be-buying-more-suncor-energy-tsxsu-stock/

Just bought Shell. I wouldn't touch a CDN oil stock with the anti oil attitude by the federal government. All that said if I was going to buy 1 it would likely be SU. I bought Shell because it is down over 50% and pays a 11% dividend. Foreign holding so income is fully taxed but between the yield and possible capital gain it is worth it.  

[Warhippy]

5 minutes ago, Boudrias said:

Bought GLW and RDS.A today. A little tech and big oil. Corning is a top glass researcher. RDS pays 11% div. Shell is a large investor in alternative energy. Years ago when I was involved with them they took interest in a wood pellet plant up near PG if I remember right. 

 

This might not be the low but if I can buy international companies with decent divs I am looking hard. I do expect the CDN $ to drop to 0.60 cents. 12 of my 18 Cdn listed stocks either have their divs paid in USD or have significant  revenue streams outside Canada. 

That's a great idea actually because a further drop is not unexpected or out of the realms of possibility.

[Boudrias]

2 minutes ago, Warhippy said:

That's a great idea actually because a further drop is not unexpected or out of the realms of possibility.

My USD side now exceeds the highs I had back in Jan/Feb. EMA, ENB, FTS are all generating half their revenues in the USA. I liked RDS because it is global and more into LNG all the time. They have an investment arm that is investing in battery storage as one of their ways of moving away from hydrocarbons. 

[NucksPatsFan]

27 minutes ago, AriGold2.0 said:

Would love to get some opinions on Suncor TSX:SU 

 

I'm thinking of putting in around $10,000. They have alot of irons in the fire and for the longterm plan they should be a homerun.

 

https://ca.finance.yahoo.com/news/oil-price-war-ends-suncor-131338490.html

https://www.fool.ca/2020/04/17/could-warren-buffett-be-buying-more-suncor-energy-tsxsu-stock/

I'm in SU for the long term. I don't care about their upcoming dips ( will average down ) but a few years from now their current price will look like a bargain.

[I.Am.Ironman]

1 hour ago, Boudrias said:

Just bought Shell. I wouldn't touch a CDN oil stock with the anti oil attitude by the federal government. All that said if I was going to buy 1 it would likely be SU. I bought Shell because it is down over 50% and pays a 11% dividend. Foreign holding so income is fully taxed but between the yield and possible capital gain it is worth it.  

Is it taxed if it is in a TFSA account?

 

I should clarify I know the IRS will ding you but my question is if you get taxed by the CRA as well

Edited April 23, 2020 by I.Am.Ironman

[Boudrias]

24 minutes ago, I.Am.Ironman said:

Is it taxed if it is in a TFSA account?

 

I should clarify I know the IRS will ding you but my question is if you get taxed by the CRA as well

This is in a cash account so income is fully taxed by RCA. There is a 15% with holding by the USA but that is recovered when you file your taxes. No dividend tax credit like CDN stocks. Full tax hit.