I'm preparing to get into daytrading, I have only been investing so far.

What platform do you guys use, and does it have a paper trading option?

So far with reddit searches I came up with WeBull and IBKR.

I dabled in day trading for a few years, was moderately successful but life changes, work etc did not allow me time during market hours. I now find myself with time available.

I used Scotia itrade FlightDesk at that time which I now see is shut down.

What are day traders using these days? Some searching indicates IBKR is a good choice but upon further searching i see some report that they have left due to timing delays which negatively impact quick trade execution and market data.

What are day traders in Canada using for reliable data and trade execution times?

Thanks

So, looking at lower time frame charts, I hover my cursor over specific candle sticks and it shows volume. Ok, but sometimes I hover over a candle stick and it has a low volume but the candle stick is huge, but then the next candle stick next to it has huge volume and is just a small blip that hardly is affected. I don't understand. Or sometimes I see the opposite high volume high Candlestick... low volume tiny candle stick. I don't understand

I am trying to improve my chart (and candle) pattern detection skills so I can better determine market structure as part of my TA skills.

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I do lots of practice on TradingView charts, but the problem is that I never know if my market structure pattern detection is correct or am I missing any important pattern.

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Is there any Chart Pattern practice test resource(es) that let me assess charts, then show me the answers?

Which paper trading platform do you recommend for beginner daytraders in Canada? I'm seeing IKBR TWS a lot... or Think or Swim.. but from what I understand Think or Swim is not available for Canadians.. can anyone confirm?

I also have a questrade account already but never see it being used by daytraders..

tia

Hello Everyone,

Can you please advise which is the best broker to trade with in Canada and from where to get market data ?

Le groupe est mort? Partagez- vous vos stock de day trading? Low float? "Beaucoup" de volumes? "1m"+ En bas de 1$ou +

Hey all,

I wanted to share my chat with Charting Man Dan here for anyone who is interested in Technical Analysis and trading/investing. This isn’t a specific stock pick (although we do discuss EUAs) but rather a general discussion on trading and TA. Just thought a few like minded Canadians may like this vid so here it is!

Charting Man Dan - Technical Analysis https://youtu.be/eBhRDoxh2_M

Hello All,

This question may be coming a little to late and fee free to down vote but what are things I need to keep in mind when day trading US securities as a Canadian?

I have lost money in the past year. I was gambling with no idea what I was doing. What are the tax implications? Wash sales etc. Secondly - I’ve been using IBKR and I don’t really pay attention to the Forex - how do you track that on a daily basis? Is this something I need to think about?

Cheers!

Looking for inspiration!

Is anyone in IM academy and want to connect??

This article explains that capital gains are taxed based on the value of securities in CAD rather than USD.

https://www.suredividend.com/usa-tax-canadian-investors/

So, some questions:

Do I have to keep track of the exchange rate with every single transaction, both buying and selling?

What if the exchange rate I write in my trade log spreadsheet is from a few minutes or hours after my order is filled? I know it won't have changed much in just a few minutes, but sometimes I forget to log the exchange rate right after my order is filled.

Self explanatory love trading view and I want to trade directly off the platform if possible.

I come across a lot of posts regarding prop firms in Canada on various forums and most of them seem to be unanswered as Canada has had and still has a very small amount of such firms. Having navigated through most of them over the last decade and a half and still trading with one, I am open to answering queries anyone might have about these and if I can be helpful in understanding the Canadian prop trading landscape better. Feel free to put your questions in comments

Hello all,

I've been paper trading a month with consistent profit and I've gone through a bunch of videos , and feel like I'm at a point where my research has kind of ended regarding starting a new account as a beginner, and I need to commit to a broker usable for Canadians only to paper trade still.

My goal right now is to find the broker I like the fee structure of (its most likely IB).

I'm currently stuck though because I'm finding a barrier to the goal I have in mind. What I want to do is start my account(application has started and I'm at funding step with IB) , Pay the fees for real time market data so I have access to level 2 data and the order book for it(I very much want to get use to hotkeys for this and use this as main trading platform not just regular order sheets) , Use trading-view for charting this is a big deal to me, and continue to Paper trade for a time that I find I'm profitable , and consistent with my strategy, THEN start to use my actual funding. I'm curious if I'd have to fully fund my account(min 2k USD for margin) with IB before all of this? I can't find answers online.

Its almost impossible to get in touch with IB regarding this which led me to Questrade but when I see their commission structure it leads me to not even want to start at all with them. I tried questrades IQ edge and demo paper account but I want the real time market data and I'm willing to pay for this to learn more, as using real time screeners is also a big deal , and to use trading view for charting as I'm most comfortable with that.

Sorry if this is a rambling noobie introduction on my part but I'd thought id reach out and give this a shot as I'm lost and am really passionate about trading. I have this clear course of action in my mind I want to pursue which I listed, but am open to criticism if whoever reads this feels like there's a better way.

I would appreciate any response so much , and thanks for taking the time to read this , it means a lot to me.

I have had a lot of success day trading scalp plays of APHA.TO with its volatility, high volume, and generally predictable price action according to daily support/resistance levels and EMA10. Furthermore, despite its volatility, minute-to-minute price action is generally quite stable, and doesn't jump more than a few cents at a time, making it easier to read potential trend continuation or trend changes.

I haven't been able to find any other ticker that moves as nicely as APHA.TO, so I am wondering, what are YOUR top Canadian day trading picks? I ask about Canadian tickers as I trade on WS, which despite its obvious disadvantages, allows you to set very tight exit points with little penalty (ie. commission fees) when trading CAD stocks.

I am curious what platform people recommend to day trade in Canada? If you could comment your favourite and your reason(s) why, I would really appreciate it.

TIA

https://preview.redd.it/8lxt0cuifft61.png?width=2754&format=png&auto=webp&s=096e8c4f86ca77b495a987a80d9b32a439338cdb

So i’ve been swing trading and a few long terms, i have a good base to start day trading. Because i do have questrade, i was gonna use iq edge...so are there fees attached? I’ve installed the platform now just need to practice... but are there fees or options to go live, level 2? Or is the edge platform i setup good to go? Are the hat keys complicated to setup? Or should i just go to interactive brokers with das? Still treading lightly so trying to avoid fees also...

Which canadian broker supports hotkeys? Cost?

Hi fellow Canadians!

When the price is fluctuating quickly during a move, and I want to get out of a position, is it better to use a market order or limit order?

I generally use a hotkey to sell (limit order) @ bid but I'm afraid it can be missed if the price drops quickly.