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Andrew Aziz

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Why does IB only request $10000 minimum deposit for individual account on their website posting? Any changes happened recently?

 

That is the minimum deposit to open an account. You are still subject to PDT rules if your account is under $25K.

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“Tym, I do not state this in my book? I only have margin account linked with DAS for all my day trading. CRA is cracking down on people trading inside TFSA. See this article.”

 

 

Page 75 of your book, edition 4 - you say that you like IB because they allow you to have a TFSA or RRSP for day trading. I thought you meant then that you actually use the TFSA.

 

I discovered that article a few days ago actually. Shame we can’t trade from a TFSA, originally I thought it was the golden ticket

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Page 75 of your book, edition 4 – you say that you like IB because they allow you to have a TFSA or RRSP for day trading. I thought you meant then that you actually use the TFSA. I discovered that article a few days ago actually. Shame we can’t trade from a TFSA, originally I thought it was the golden ticket

 

To clarify: I still make trades in my registered accounts, but not a lot because you can't short sell in there. IB and Questrade don’t report your activity to CRA. CRA is sensitive to big growths in TFSAs like trading penny stocks that go from 1 cent to 2$. Normal growth is OK. But I use my margin account mostly (what you see in chat room). If you plan to day trade full-time, expect to pay taxes. There is no golden ticket :)

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Hi Andrew!

In DAS, the hotkeys are all set up to be "ROUT=SMRTL" and not "ROUT=LIMIT". Is there any reason for this? I've found that with ROUT=LIMIT, it automatically makes your order a limit order in the montage, but ROUT=SMRTL does not, meaning if you placed a stop then tried to use a hottkey to buy or sell, the montage would still be in STOP mode and not make the buy or sell.

 

Can I just change my hottkey code to ROUT=LIMIT to get around this, or is there a reason for ROUT=SMRTL?

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I heard your appearance on the Desire to Trade podcast and was really curious about your progression from starting out and losing money to eventually becoming the consistent trader you are today. Are there any specific ideas, techniques, or even just approaches to trading that you can point to as being instrumental in going from being a beginner to where you are today? Like others struggling with maintaining consistency and building up their account, I’m especially interested in knowing what separated losing Andrew from winning Andrew and what kind of concrete steps you took to go from the former to the latter.

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Good evening Andrew,

 

This might be a super silly question regarding SMA; but I just wanted to make sure I didn't have something accidently set up in DAS incorrectly.

 

looking at my 200 SMA, its completely different on a 1 min chart then it is on a 5 min chart. in fact on my 1 min chart for one stock its 40.2, below the price action, while on my 5 min chart my 200 SMA is at 45, above the price action. does this make sense? shouldn't these be consistent since they are both just looking at the last 200 days of data and my chart time shouldn't change my equation ?

 

 

Thanks and have a good evening. looking forward to tomorrows trading in the chatroom!

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Yea I was hoping to include it but I'm getting this message

 

"Sorry, you are not allowed to attach files to this post."

 

ill just quickly send you an email with the image attached

 

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Moving averages on different time frames use the last x periods based on the time frame. That is, on the daily chart, the 200 SMA is using data from the last 200 days while it’s the last 200 5-min candles when on the 5-min chart. Compare this to VWAP which should be the same on all charts since it’s the volume-weighted average price for the day itself up to the point in question.

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MAs value are different on 5-min and 1-min chart. Because the data that is goign in there is different. MAs are calculated based on close/open of each candlestick. 1-min candlesticks open and close is not equal to 5-min open and close. Otherwise they would be exactly the same candlestick.

 

Each time frame has its own Moving AVerages.

 

200 MA on daily chart is different from 5-min chart and different from 1-min chart. Again, each time frame has its "own" value of MA.

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I noticed yesteday you sayd that you sell 25% of your position at once, eralier you was selling 50% of postition, did you changed tactics and why?

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I was thinking this same thing, Peter! Sometimes, I feel like 50% of my position is too much to sell. I suppose you can add more. I'm curious to hear Andrew's opinion on this!

 

 

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Is it necessary to learn how to trade low float stocks to be consistently profitable? I have noticed watching the youtube videos that Andrew is able to make a lot of money off of low float stocks. It seems like those trades often produce the biggest profits. I'm new, and have been avoiding trading any low float stocks until I master the medium to high float stocks. Should I be practicing trading low floats stocks on the simulator? I'm curious to hear someone's opinion on this.

 

Thanks!

 

Kevin K

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Is it necessary to learn how to trade low float stocks to be consistently profitable? I have noticed watching the youtube videos that Andrew is able to make a lot of money off of low float stocks. It seems like those trades often produce the biggest profits. I’m new, and have been avoiding trading any low float stocks until I master the medium to high float stocks. Should I be practicing trading low floats stocks on the simulator? I’m curious to hear someone’s opinion on this.

 

Andrew does not recommend trading low floats as a beginner. The risk is just too great given the volatility, halts, and speed of the trade. Sure you can make a lot with a small account, but you can also lose a lot.

 

I traded low floats in my first 2 months of simulator. After seeing how wide my P&L varied, I dropped them altogether. Now I strictly trade mid floats. Maybe in a year or two I will revisit them.

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