Official Penny Stock Day Trade / Short Term

I put a small amount into HYSR - their technology is very cool, turning any water into 'green' hydrogen via solar.

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

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?

Lol well that jagx play didn't go as planned. Down 10% AH. Oh well

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

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.

faken wrote: ↑ Lol well that jagx play didn't go as planned. Down 10% AH. Oh well

ouch -20% now, time to load up?

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%...

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.

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..

anyone here on BRAG or PKK?

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.

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...

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.

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.

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.

AVGR... looks wild already... I'm going to sit back on this one

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..

dumped JAGX.. small loss. too many people sold at .70 cents lol. patience and 1% loss only.

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.