Investing

Official Penny Stock Day Trade / Short Term

  • Last Updated:
  • May 16th, 2022 7:58 pm
Member
Jan 25, 2016
228 posts
212 upvotes
Ottawa
I put a small amount into HYSR - their technology is very cool, turning any water into 'green' hydrogen via solar.
Deal Addict
Sep 27, 2020
1090 posts
3154 upvotes
alanbrenton wrote: Are you the same actuary20 on ceo.ca?

That's what I thought about RRSP's, thanks for confirming.
Yep but a bit I'm a lot different character on there. That website is a cesspool and I don't really care to help people on there haha
Deal Addict
User avatar
Oct 9, 2012
2916 posts
783 upvotes
Toronto
sienna owner wrote: nice timing if you sold at peak.
still holding from earlier this year. LOL
was close enough. off by 20 something cents i believe.

Nice, what did you get in at?
[OP]
Deal Guru
User avatar
Sep 21, 2007
10615 posts
8606 upvotes
Winnipeg
Lol well that jagx play didn't go as planned. Down 10% AH. Oh well
"An essential aspect of creativity is not being afraid to fail." -- Edward Land
Deal Fanatic
Aug 15, 2003
8753 posts
367 upvotes
Toronto
alanbrenton wrote: I am hoping the CRA auditors turn the other way with the trading frequencies in our (RFD community and a broader extent to all Canadians) RRSP's and TFSA's lol. I made sure that I'll be claiming some profits on my trading account.

I think the CRA is not as anal with RRSP's, correct?
Actuary20 wrote: You shouldn't be doing too many trades in a TFSA as CRA can come after you.
TSFAs Carrying On A Business: Frequent Traders With Large Balances Beware of Tax Audit
When auditing a tax-free savings account, the Canada Revenue Agency applies several factors to determine whether the account carries on a business and thus earns taxable income. These factors come from a long line of Canadian tax cases wrestling with the question of whether a gain or loss from selling securities should be on income account or capital account.

As a result, the following factors may cause the Canada Revenue Agency to conclude that your TFSA carries on a business:

you conduct frequent securities transactions within your TFSA
you quickly relinquish ownership of the securities in your TFSA

you have knowledge of or experience in securities markets
securities transactions form a part of your ordinary business or employment
you spend ample time studying securities markets and potential purchases
you use debt financing to purchase securities that you transfer to your TFSA
you advertise your willingness to purchase securities
the securities within your TFSA are speculative in nature or do not distribute dividends


The bold statements worry me. Due to Covid a lot of amateur investors like me have more time on our hands to invest. Making 5-10 trades a week and holding onto them for 1-50 days shouldn't mean we are suddenly day traders. I thought the whole purpose of gov pushing TFSA was for us to invest and reap tax free. I shouldn't get punished if I am lucky. I can see many accounts in the 100-250k range if people got in at the right time (March 2020) with the right amount of money (say someone puts in 40-50k into their TFSA instead of buying property) and made the right trades (throw a dart, majority of companies have recovered).

https://www.moneysense.ca/save/investin ... nts-court/ doesn't sound promising either
Member
User avatar
Mar 17, 2020
381 posts
418 upvotes
this year every stock is speculative in nature
CRA knows everyone did good this year and will come for a piece of pie.
since there are no clear rules for TFSA on how many trades is allowed, we are all easy targets.
Deal Addict
User avatar
Oct 9, 2012
2916 posts
783 upvotes
Toronto
faken wrote: Lol well that jagx play didn't go as planned. Down 10% AH. Oh well
ouch -20% now, time to load up?
[OP]
Deal Guru
User avatar
Sep 21, 2007
10615 posts
8606 upvotes
Winnipeg
therollin wrote: ouch -20% now, time to load up?
-4.5% now for me... I dunno it's up to you. I'm playing the rumor now. again.. 100% gamble on this one. I have such a small position i don't even care if i lose 50%... but the upside is like.. 150%...
"An essential aspect of creativity is not being afraid to fail." -- Edward Land
Sr. Member
Sep 18, 2019
859 posts
751 upvotes
faken wrote: -4.5% now for me... I dunno it's up to you. I'm playing the rumor now. again.. 100% gamble on this one. I have such a small position i don't even care if i lose 50%... but the upside is like.. 150%...
I am down 20% but faken is right, you need to know how much you can lose before jumping in.
[OP]
Deal Guru
User avatar
Sep 21, 2007
10615 posts
8606 upvotes
Winnipeg
Sunway wrote: I am down 20% but faken is right, you need to know how much you can lose before jumping in.
I'm trying to find a copy of the conference call this morning. I wouldn't listen in I was in a virtual meeting on another computer while watching stocks on another at work lol..
"An essential aspect of creativity is not being afraid to fail." -- Edward Land
Newbie
Nov 22, 2015
95 posts
48 upvotes
Vancouver, BC
reversi wrote: How do you guys discover these companies? I’ve never heard of any of them until I read about them on RFD.
Twitter, Stocktwitss, scanners like Finviz and random articles on Fool, Zacks etc.
Newbie
Nov 22, 2015
95 posts
48 upvotes
Vancouver, BC
Actuary20 wrote: I've posted about UUUU on the other thread but it really is a penny stock so I'll post more about it here.

Looking bullish AF.

If it breaks $4.10 - blue skies ahead IMO. I'd like to see it close over $4 first though.

FYI - for wealthsimple folks this is the same stock as EFR on the TSX.
I came across UUUU on youtube a few weeks back. A youtuber was doing technical analysis and he mentioned that it will go up. Since then, it went up by 100%. I wish I bought then. Well...
Deal Expert
User avatar
Apr 21, 2004
55223 posts
20086 upvotes
aerodynamic wrote: Twitter, Stocktwitss, scanners like Finviz and random articles on Fool, Zacks etc.
How do you find the most talked about on each? Stocktwits will show a stream of 10-20 ticker symbols.
Newbie
Nov 22, 2015
95 posts
48 upvotes
Vancouver, BC
alanbrenton wrote: How do you find the most talked about on each? Stocktwits will show a stream of 10-20 ticker symbols.
Follow the folks who take credit for calling a stock that will go up. There are many of them. You will find out once you use the app more often.
Deal Fanatic
Apr 5, 2016
5765 posts
4187 upvotes
Calgary/Vancouver
Took a small position into UEG. Hoping 2021 will be another big gain year and most likely so with Joe Biden promising a big stimulus package the world has never seen before.
[OP]
Deal Guru
User avatar
Sep 21, 2007
10615 posts
8606 upvotes
Winnipeg
AVGR... looks wild already... I'm going to sit back on this one
"An essential aspect of creativity is not being afraid to fail." -- Edward Land
[OP]
Deal Guru
User avatar
Sep 21, 2007
10615 posts
8606 upvotes
Winnipeg
aerodynamic wrote: Follow the folks who take credit for calling a stock that will go up. There are many of them. You will find out once you use the app more often.
i need to step away from stocktwits quiet often because the bull comments with their "dd" is just as bad as the misinformation from the bears..
"An essential aspect of creativity is not being afraid to fail." -- Edward Land
[OP]
Deal Guru
User avatar
Sep 21, 2007
10615 posts
8606 upvotes
Winnipeg
dumped JAGX.. small loss. too many people sold at .70 cents lol. patience and 1% loss only.
"An essential aspect of creativity is not being afraid to fail." -- Edward Land
Sr. Member
Sep 18, 2019
859 posts
751 upvotes
faken wrote: dumped JAGX.. small loss. too many people sold at .70 cents lol. patience and 1% loss only.
I am holding for a potential SPAC. In addition, this is my leftover gamble money after I sold my XSPA.

You know how I feel about XSPA.

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