What to do with 60 free trades for 2 month?

11580 Views 38 Replies 14 Participants Last post by gibor365, Feb 5, 2014

gibor365

Discussion Starter · Jan 29, 2014

I'm currently in process of moving my RRSP from TDDI to CIBC IE. As a bonus, CIBC IE gives me 60 free trades for 2 months period! I asked less trades , but for more extended period of time, but CIBC said that 60 trades for 2 months is a standard procedure and they cannot extend it...

Considering the faxt that usually I get 60 trades for whole year for 6 different accounts, I'm not sure what to do with those 60 free....
I was thinking maybe to do like "roulette" trading?!

Like hit red or black... buy some penny or "superpenny" stock and try to see it?! Anyone does it?
What kind of penny stock are worth consideration? I'm not planning to risk serious sum of $$, but like in casino to trade $100-200....
For example "famous" PSN , now is only traded in NYSE - POSEIDON CONCEPTS CRP ORD (POOSF), the normal gain/loss in 1 day is 100-200%....

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Eder

· #2 · Jan 29, 2014

I don't think you can overcome the juice...

gibor365

Discussion Starter · #3 · Jan 29, 2014

Eder said:
I don't think you can overcome the juice...

Sorry Eder, I'm immigrant, didn't get your joke.... can you write in simple English?!

My Own Advisor

· #4 · Jan 29, 2014

I wouldn't do anything, personally. You're bound to lose more money in penny stocks vs. making money.

It's a nice perk they are offering, many will take advantage of it, but I never found that trading is really investing (for me).

gibor, I sense you have a healthy portfolio so you maybe you want to take a few risks?

gibor365

Discussion Starter · #5 · Jan 29, 2014

My Own Advisor said:
I wouldn't do anything, personally. You're bound to lose more money in penny stocks vs. making money.

It's a nice perk they are offering, many will take advantage of it, but I never found that trading is really investing (for me).

MOA, I'm not talking about investing, I just want to play casino - roulette style for fun, in casino you also lose at the end

... I gonna risk max $200

My Own Advisor

· #6 · Jan 29, 2014

I didn't think so....so I can see you playing the casino, especially with $200

humble_pie

· #7 · Jan 29, 2014

gibor said:
What kind of penny stock are worth consideration? I'm not planning to risk serious sum of $$, but like in casino to trade $100-200....
For example "famous" PSN , now is only traded in NYSE - POSEIDON CONCEPTS CRP ORD (POOSF), the normal gain/loss in 1 day is 100-200%....

gibor do u see that symbol POOSF?
that's a pink sheet foreign stock
it has nothing - nothing - to do with the new york stock exchange.

pink sheet stocks are an unregulated OTC US market,
your pick is considered "foreign" because it seems to be the dying remnant of that canadian disaster that was pumped once upon a time right here in cmf forum.

pink sheet stocks are run by pumps, touts, naked shorts & other crooks including real-life mafia.

there's a huge USD/CAD foreign exchange fee built into the pink sheet price (pink sheet foreign stocks have no native inventory in the US of A but rely on obtaining any shares sold from the host foreign country, in this case presumably from canadian OTC market)

of course, if it's a naked short racket, then, in reality, there are no shares being sold at all.
the mob is a big player in the naked short pink sheet racket
there's a standing SEC-RCMP joint committee looking into this aspect of cross-border crime, they've been at it for years.

gibor i'm tempted to say Go on, do it & report back :biggrin:

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underemployedactor

· #8 · Jan 29, 2014

No need to play in the pinks - there's the grubby pit known as the Venture Exchange. Much fun can be had. But 200 bucks? Just find some mini micro with a ticker that has your initials or your star sign or whatever. But if you want to play with real money then some research is required - mainly figuring out who is behind the pumping. Start with SEDAR and bring your pail and bucket.

james4beach

· #9 · Jan 29, 2014

What to do with the free trades?

Resist the urge to trade unnecessarily.

If you must trade (and can't resist the urge) then use it as an educational exercise. Put up a big piece of paper on your wall with four columns: stock, buy price, sell price, net profit/loss. As you do your trading, mark your results

lonewolf

· #10 · Jan 29, 2014

A high number of trades can result in an increase in Bata slippage i.e., an inverse ETF can lose money even if the market moves in its direction due to bata slippage.

Of course if bet size is kept constant bata slippage will not be a problem. The system should be tested if it will work with compounding. Einstein was right in the 8th wonder of the world compounding, a system that will allow for compounding is a better system then a system that will lose money when compounding is used. Of course @ some point critical mass would be hit using compounding.

james4beach

· #11 · Jan 29, 2014

I used to trade a lot when I was younger. Over the years I noticed a very strong correlation... the more I traded, the worse I performed. The less I traded, the better I did.

Everyone is different and some people are natural born traders, but most people are not. And those who succeed with active trading have some kind of systematic approach which involves things such as position management and risk control.

But people who trade in an ad hoc fashion... it generally doesn't work out (over time). You might have a good year, or two, but are virtually guaranteed to lose money over time.

gibor365

Discussion Starter · #12 · Jan 29, 2014 (Edited)

underemployedactor said:
No need to play in the pinks - there's the grubby pit known as the Venture Exchange. Much fun can be had. But 200 bucks? Just find some mini micro with a ticker that has your initials .

Oh Oh , found one GBR

I said $200 because CIBC gives me $200 bonus together with free trades

, but obviously I'm not going to invest any serious $ in such stocks... I'm just looking for stocks that have huge violatility and can move around 40-50% in day any direction..... or maybe I'll try to play some 3x like TZA or TNA

but are virtually guaranteed to lose money over time james, I know it and I;m ready to lose those couple of hundred ....it's like in casino, you go and you have $ limit that you are ready to lose to have fun

james4beach

· #13 · Jan 29, 2014

gibor, I'm actually OK with the gambling thing. I like gambling once in a while and the stock market is a fun place to gamble

So I don't see any problem with that, but I wouldn't want anyone to wander into this thread and think we're describing investment strategies.

For such activities I still suggest sticking to liquid, high volume things. Friends of mine have used (relating to the VIX volatility index): VXX, XIV, and TVIX. Very high risk, do not hold overnight

Mechanic

· #14 · Jan 29, 2014

POOSF is what is listed in my trading account after PSN (Poseidon) shares got de-listed. I don't think you would want to be trading those. I'm still in dis-belief that they can actually get away with filing incorrect financial statements to defraud investor's. Makes a mockery of the ASC(?). Now I read they have started another company. I would sure like to run into the perps of that one sometime for a little personal satisfaction.

underemployedactor

· #15 · Jan 29, 2014

gibor said:
Oh Oh , found one GBR

Perfect! The best I could do for me was ACT. Tell you what. You throw your two hundred into GBR, I'll throw two into ACT and may the best gambler win.

humble_pie

· #16 · Jan 29, 2014

gibor don't fall for actor's siren song, she's going to beat you handily with her expertise, you haven't got a chance with Great Bear :tongue-new:

this company is not worth even the first of your initials.

what they've got is title to an old california mining claim that was drilled by newmont & BHP roughly 20 years ago, then abandoned. Presumably due to low quality of orebody.

many old abandoned gold mining sites throughout north & south america were resurrected recently, when gold was nearing $2000/oz. It was hoped that weak ore deposits might prove profitable to mine at high gold prices. This is no longer the situation. Most of these old properties are, once again, worthless.

do you see all those huge trucks & drill vehicles pictured on the company's website, giving the impression that great bear is actually drilling at perdito california? this is not the case. Those are pictures of other mine camps. Great Bear's claim at perdito is, today, nothing but bare scrap land covered in sagebrush.

here is your bee yoot ee full GBR property:
.

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Toronto.gal

· #17 · Jan 29, 2014

humble_pie said:
you haven't got a chance with Great Bear......this company is not worth even the first of your initials.

Ah, but you see, you don't know the meaning of gibor, or do you?

braintootired

· #18 · Jan 29, 2014

With 60 free trades you can be a HFT for 6 seconds for free!

underemployedactor

· #19 · Jan 29, 2014

humble_pie said:
gibor don't fall for actor's siren song, she's going to beat you handily with her expertise, you haven't got a chance with Great Bear :tongue-new:

this company is not worth even the first of your initials.

]

Humble, you spoil sport!
Though to be fair, I think there is about as much going on at ACT's storage locker in Mississauga as there is in GBT's desert.

Toronto.gal

· #20 · Jan 29, 2014

gibor said:
Oh Oh , found one GBR

It would help to find one that's not so bear, I mean one that has a lil volume at least.

Had you asked at the beginning of the month, I would have recommended a NYSEMKT biotech that is now up +400% just this month. Had you asked in 2013, I would have recommended GBU. :tongue-new:

Instead of playing la ruleta, why not add a few hundred dollars to the free $200 and try to make a solid swing-trade instead, that may result in more than what your highest dividend payer would pay in a year? You're a serious dividend guy, not any kind of trader.

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