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Day Trading Canadian Taxes and Business Structures
Volodymyr replied to Palashe's topic in Risk, Account & Money Management
Hi Everyone, I know this is an old topic. However, I am trying to understand the implications of conducting daily trading as a corporation in Canada. Do I need to register an IBKR Business account, and does this require me to subscribe to DAS as a professional user? Or can I keep my IBKR individual account if my Business is solely for this purpose (it is still registered as a corporation)? Thanks. -
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update on my tradebook. It's coming together. i have a notebook. like from high school. i write in this everyday. I open to a new page in the morning and write the date across the top of the pages. then i just write throughout the morning during trading. i write anything and everything. i make notes about RULES to add to myself. My notebook goes from January 13th to now. i went through the whole notebook and made a list of all the notes i put a ⭐ star, highlighted or put an * asterisk next to it. here is the raw list: i copy and pasted the raw data into Grok and it gave this back to me: General Trading Mindset Patience is key: Treat trading like fishing—wait for the right setup, don’t force trades. If you miss an opportunity, let it go and look for the next one. Slow down: Especially on Mondays or after a 3-day weekend. Start in simulation (SIM) mode to ease in. Trend alignment: Trade with the trend, not against it—“the trend is your friend.” Risk Management Daily risk limits: Never risk more than 2% of your account per day ($100 on a $5K account) or 1% per trade ($50 on a $5K account). Phil’s key risk: Cap risk at $45 per trade when using this strategy. Loss streak rule: After 3 losses in a row totaling under $60, take a fourth trade; otherwise, pause. Trade Setup and Entry Indicator confirmation: Look for 5 out of 6 indicators to align before entering a trade. Wyckoff phase awareness: Assess the current market phase (accumulation, markup, distribution, markdown). Retest probability: Wait for a retest after a move—70% likelihood (per Avi). Multiple time frames: Use higher time frames (30-minute and above) for confirmation. Position sizing: Take smaller sizes for B+ setups, aiming for a 3R (3:1 reward-to-risk) target. Trade Management Hands-off approach: After entry, let the trade play out—don’t interfere unless adjusting the stop to breakeven (B/E) after hitting 3R. Phil’s key adjustment: Move stop to B/E after hitting the first target. Profit target: Aim for 80% of the Average True Range (ATR) as the target. Predefined exit: Know your exit strategy before entering the trade. 3R prerequisite: Hit a 3R trade before attempting a Phil trade. Specific Scenarios Earnings week: Learn how to trade stocks during earnings periods (implies higher volatility—study this separately). Monday caution: Go slow, especially after long weekends, and start with SIM trading.
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i'm working on my tradebook today. i was also looking for examples. there's another post i found: building a tradebook i will post my tradebook here when i get something complete. right now, i have notes on paper.
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Look at this. I've been a little behind with keeping my journal updated. finally updated it today. Something JUMPED out when i took a look at the last 30 days calendar.
Thursday is not a good day for me to trade is what i am seeing. If i just take Thursday's off from now on until i can identify my issue. i have a separate notebook with all my notes from those specific days. i will review it today and figure out what's happening. my trading buddy said that i might have already solved my issue by just being aware of it. We'll see. i'm going to dig in and take a closer look.
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I'm Brent in western North Carolina. I'm a day trader, IT MSP Owner/Operator, motorcycle instructor at the BMW US Rider Academy, former Network Engineer / IT Manager for Michelin/Windstream/Amazon, husband, and father of a 16 month old daughter. I have been trading since 2004. I have been day trading options and stocks seriously for 9 months using BBT books. I am here to learn and improve. My motto is freedom over money and I'm aiming to generate enough income to essentially retire by 45 years old. Looking forward to this! Thank you all!
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hello @bjaffry, that scripts achieve several targets in the process : Deletes all orders for the ticker. Opens a new limit order for 30% of the position @ bid-0.05 (DAY+) Opens a new market stoploss order for the position @ avg price (GTC) I'd check 3 things : Share = Post-share >> are you sure that calculation is right ? TIF ... double check if you need to make them both "DAY" or "GTC". Mouse or focus position. Check if you need to click in your chart before pressing the hotkey. - Earlier
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Hey all, Looking forward to hearing from other CAM Pivot traders. I think posting about trades you make and the decision making at that time is an important way to improve. I am going to share my reflections on my trades here. Cheers! Here are trades from 3-18 and 3-19: https://app.tradezella.com/shared/19ee4afd https://app.tradezella.com/shared/de5f9ff4 https://app.tradezella.com/shared/f358cbf9 https://app.tradezella.com/shared/9f0d41cf https://app.tradezella.com/shared/25d37a47
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West Covina (Pasadena, Pomona)
TimTensity replied to Michael Schweighardt's topic in BBT - SoCal Traders's Topics
Hi Michael, I've seen you around the chat room. Did you ever end up finding a group/buddy. I'd be interested in joining. I'm in orange county. Really would be good to have other people checking my trades/playbooks and im happy to do the same for others. -
Thor's Pivot Plays for Trade Zella
Chris Shepard replied to Korey R. Snead's topic in Day Trading Journals
Thank you for these! awesome stuff!! -
🥧 (π) Day
14-March-2025 Friday 🟥 day (SIM)
Friday is not a regular trade day for me. Personal stuff to do every Friday.
I just take it slow in SIM on Friday for practice and I will take a trade if I see it is A+++.
Didn’t take any real trades today. Just fucked around. Practiced. PLTR was disappointing. I had no business trading it.
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13-March-2025 - Thursday 🟥 day (SIM)
Not feeling great today. Tired. Shitty sleep. Shitty mood. My wife got me all fucked up yesterday.
SIM day. My psychology is fucked up today and my mind is not clear and not functioning at an acceptable level.
While I’m here writing this…. I need to cut down my coffee to two cups per day, exercise every day and stop taking THC in any form.
No Jarad today. Maybe that’s another sign to just chill today.
In SIM. Not in the zone. Shitty trades. Took 8 trades. -$46. One trade hit by accident. Not intentional.
Just not focused today. Need to take today off and review and reflect.
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i can't even look at the market right now. i'll probably get upset and have FOMO. i'm going to veg out and just get my brain back in order and do some exercise and no more coffee today and limit my THC intake. i can control only my self and how i react. i'm writing this for me. I don't anticipate anyone actually reading this.
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12-March-2025 - Wednesday 🟩 day (SIM)
i'm phoning this one in today.
Feeling okay today. Sleep was okay. Not great. Got to bed a little later than usual. Up on time. Feeling okay. Hydrated. Some light exercise. Ready for some trading.
It was a good day. 15 trades! Probably over traded. Not sure. It takes me a few tries before i catch my move. I can be wrong 4 times and still break even.
i had a great day, but a family loved one can say just one thing and change the mood for the day. 😒😞
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heylaurenmay changed their profile photo
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Hi friends, I am Lauren from Denver and look forward to learning more here on BBT after having started my mornings with Carlos, Peter, Andrew, Avi and Paras on the YouTube channel since December. I made some great trades during the earnings live streams with Jared, Peter and Carlos (and a great loss too, lol), and enjoyed Andrews books. As a professional in the sport horse industry with a commercial facility and a second med supply business, my time for new or social opportunities is limited. More than that, I know zero other traders in my life and do not share my daily trading practice with others due to the stigma behind intraday trading. With that, I look forward to both friendships and growth from those more profitable than myself. Cheers!
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Example - Swing Trading Plan - Short-term Swing Trading
vchandra11 replied to vchandra11's topic in Swing Trading
Hi there I am sharing my short-term swing trading plan notes. This is for discussion purposes only. Please feel free to send comments/discussions so our BBT Forum can benefit from same. From attached MSFT daily chart I observe a crossover of 20ema below 150ema. Per earlier notes and attachments this suggests to me a bearish crossover. Please note new settings of Stochastic indicator:(12,6,3,75,25), above 75% suggest overbought and below 25% suggests oversold conditions, and corresponding MACD crossover suggests short-term swing trade trend direction. Previous discussion was for short-term rallies in a long-term uptrend as generally seen for 2023 and 2024. I observe a potential downtrend for a while as suggested by 20/150 ema downward crossover, similar to 2022. What are your observations/thoughts. Also, I am looking at a 7-17 ema crossover indicator for potential swing trade set-ups as shown on attached daily MSFT chart. Please note this is not an investment advice. Please seek investment advise from your own investment advisor. The attachments and notes are for illustration and discussion purposes only on our BBT Forum. -
Trading Futures from Canada - looking for tools
Chris replied to PeterP's topic in Day Trading Hardware, Software and Tools
I've developed a study in Tradingview that mimic's Thor's TOS pivot study. Still in the testing phase, but I've been using it successfully for a couple of weeks - happy to share with you. -
11-March-2025 - Tuesday 🟩 day
My Physical is okay. I did some exercise yesterday. Some stretching and strength. I need to do more cardio.
Emotional is okay today. Not good, not bad. Just fine.
Mental is fine. Feeling okay. Nothing special. Ready to trade.
What a day. Hit target on my first trade. I am in SIM. I have two SIM accounts. I am treating SIM 1 like it’s my real account and SIM 2 for practice and screen time.
Comforted knowing that I could be wrong 4 time's and hit 5 to break even. Slow down. Be cautious. Reevaluate if the trade strategy is still valid even though it's only a few seconds later. Maybe I noticed something out of the corner of my eye that tells me not to take the trade anymore. Don't ignore that. Investigate that. Whatever it is. My style of trading has many opportunities and is not to be rushed. Choose another ticker. Move on to another stock if failed three times. This is a valid rule, but…. I have hit on my forth. I’d say 4 is the magic number, but stopping anytime I feel I am on ‘tilt’ is acceptable.
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I am a true newbie! Just finished your introductory book and (I think) I'm ready to start the journey. I'll keep you updated on progress. Lots of study ahead.
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Thomas Blasco MD changed their profile photo
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TradeZella Shared Playbook —————Higher Range Plays—————— R6 Reversal: https://app.tradezella.com/shared_playbook/e380eaae Trending R4 Breakout (opens under R3): https://app.tradezella.com/shared_playbook/d7c655c9 R4 Breakout (opens above R4): https://app.tradezella.com/shared_playbook/60b3846b R4 Extreme Reversal (opens inside of R3): https://app.tradezella.com/shared_playbook/37ddf6ad S3 to R3 Traverse: https://app.tradezella.com/shared_playbook/cb5c6e55 S4 Breakout (opens below S4 against the trend): https://app.tradezella.com/shared_playbook/cbdba9ca —————Lower Range Plays—————— S6 Reversal: https://app.tradezella.com/shared_playbook/4c469c01 Trending S4 Breakout (opens above S3): https://app.tradezella.com/shared_playbook/640402fa S4 Breakout (opens below S4): https://app.tradezella.com/shared_playbook/fa620c11 S4 Extreme Reversal (opens above S4): https://app.tradezella.com/shared_playbook/2acd9b26 R3 to S3 Traverse: https://app.tradezella.com/shared_playbook/faa9a807 R4 Breakout (opens above R4 against the trend): https://app.tradezella.com/shared_playbook/acf1634c —————Not a Play—————— Not a Pivot Play: https://app.tradezella.com/shared_playbook/3e2bbdc6
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10-March-2025 - Monday 🟩 day (SIM)
Stopped out 5 times before finally catching the move.
Traded AMD short. 3 Option contracts. ATR was about 5. I kept getting in too early and getting stopped out. i got annoyed and waited. Noticed it hit it's top and started to finally reverse. that's what i was waiting for and trying for.
i went short and i went a little heavy. i usually take one contract, i took 3. my targets were 3R, 4R, and 5R. All hit!
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so.... i lost 5R on those first 5 tries, then i hit on that last one. the last trade had 3 targets. 3R + 4R + 5R = 12R.
i still was green today with 5 losers because 12R - 5R = 7R profit.
my money amounts are small right now. 1R = $15.
the point is, i can scale up. i can make 1R = $100 or whatever. as long as i know my system can get me green after 5 losers.... i will be just fine.
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The Composite Man is a single, highly skilled entity with a clear strategy who:
- Accumulates stocks at low prices (buying when others are selling, often during periods of fear or capitulation).
- Distributes stocks at high prices (selling when others are buying, often during periods of euphoria or greed).
- Creates trends, tests supply and demand, and engineers conditions to profit from both retail traders and less-informed participants.
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adds Add hotkey with same risk amount
peterB replied to Julien Maisan's topic in DAS Trader Pro Tips and Tricks
here are two soutions first second if you PM me there I have a single hotkey solution for both longs and shorts -
adds Add hotkey with same risk amount
Austin D replied to Julien Maisan's topic in DAS Trader Pro Tips and Tricks
Hi all, I think that I was able to get Julien's script for the add short hot key to work, but I had to make some changes. I've copied the script below and put my changes in bold: CXL ALLSYMB;StopPrice = Price;Share=Price*100*Pos;Price=AvgCost;SShare=Price*100*Pos;Share=1000-Share+SShare; Price=Share/100;Share=Price;Price= StopPrice-Bid;SShare=Share / Price;DefShare=BP*0.97;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;SShare=DefShare-SShare;Share=0.5*SShare;Price=Bid-0.02;TogSShare;TIF=DAY+;ROUTE=LIMIT;SELL=SEND;DefShare=10; Price=StopPrice-Bid*2;Price=Bid-Price;TriggerOrder=RT:STOP STOPTYPE:RANGE LowPrice:Price HighPrice:StopPrice ACT:BUY QTY:POS TIF:DAY+; -
Pedagogy, most commonly understood as the approach to teaching, is the theory and practice of learning, and how this process influences, and is influenced by, the social, political, and psychological development of learners.
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adds Add hotkey with same risk amount
peterB replied to Julien Maisan's topic in DAS Trader Pro Tips and Tricks
i will be posting a solution this week
