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TonyTrader

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  1. Hey John, could you go over your stoploss management for a stock like TSLA. If you have a $4 stop loss, then how do you take your profit? Is the first partial at 1R? I see that you many times you get out well before -1R loss, what's the trigger to get out of trades earlier. Thanks
  2. Do you get taxed on all your winning trades regardless or is the net income i.e (gains-losses over the year)
  3. 1. If you are working as a trader in a prop firm, can you also trade independently under your own business name. How would you manage both if working from home 2. If you're trading by yourself , what is the best or options for various business categories. Also is there a deadline to register your business for the tax year. 3. Suppose (theoretically ) you start earning a lot as a day trader, can you employ your family to help with your trading business to offset taxes? i.e assistance with research,etc. Which sort of business do you need to register under in such an instance or is it necessary to officially register in such a scenario.
  4. 1. Do you need to be officially registered as a business to declare trading as a business as a tax payer to get business costs offsets like office space, cost for trading software,etc. 2. Can you offset cost for DAS cost, educational training costs like cost for Bearbulltraders, scanner costs, ebooks,etc. 3. If we are only trading US stocks, is it better or worse to make a USD bank account. Which bank accounts do you recommend for daytraders?Also on Interactive Brokers, there's an option to make base currency as CAD or USD. Which is better. 4. Can you daytrade using TFSA or RRSP?
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