Discussion in 'Montreal Canadiens' started by Lshap, Apr 16, 2021.
''Right, so what I was saying is it’s still a grey zone what qualifies for “day trading” in a tfsa, we don’t really have set guidelines established by the CRA. But yes, most do trades in their tfsa and will go away Scott free.''
I think I've only sold once in my TFSA and it was to move out of bonds in February, so I highly doubt the CRA goes after me for buying and holding. Even if you make a huge profit, if it's over a long period of time, it is the purpose of the Tax Free Savings Account. Of course, if you make 100k off of Gamestop in a month, maybe not.
No I wouldn’t see the CRA going after you either. The purpose of a TFSA is to hold long term investments. It’s an investment véhicule. To differentiate between investment and trading is the issue. A poster listed some factors and that’s all we have to go on.
like I mentioned, if you’re intent is to invest, you are not crossing lines. But a GME 100 k gain off a buy/flip in say a month, it’s hArd to argue your intent is to hold GME as an investment.
So atleast for me, what I do is, if I have pure speculation stocks I wanna win the lotto on and I have to flip for profit, I buy in a margin account. Again, not saying what others D0, because I work on many client portfolios where they trade in there tfsa and there ok. All depends on the mood of the CRA
Anyone have space stocks in their portfolio?
So does CRA audit you ASAP or once you file your taxes?
Originally, I didn't know about the rule and may have been a little intense with trading lol
I mean, it’s all based on pure luck lol. Most my clients who’ve done it don’t get audited. It’s really just shitty luck lol.
i guess the same as someone who might declare more costs that used on repairs. If you get lucky enough to be audited, all I can say is shit luck lol. I wouldn’t worry about it personally
I have ASTC, they were space but change their whole company years back, long term play, could be something but hasn't been shit for years.
Any of you think AMC will short squeeze? Been a lot of talk about it on Youtube. Suppose to happen next week
Tbh, reading that stocks and/or crypto "will" crash up to 90% is scaring me a little bit.
They took a big tumble overnight
Major crash in bitcoin, it's down about 15% from its peak.
I hope it recovers.
Im poor now
The good news is that I wasn't destroyed emotionally. I'm new to this. So this kind of fluctuations is a good test.
I guess it will. It'll take a week or so.
Same. Can't wait to Monday for Hut going down.
Growth stocks might follow the trend
I just realized I had a limit on litecoin at 385 for 100% and it went through yesterday. Im actually not poor.
Buying back in at 300, I think, I will wait a day.
The thing went up like seven fold in a year, it's only normal you see downside volatility... If you can't handle a 15% drop, you should not be investing in Bitcoin or Cryptos or you should be thinking about lowering your allocation to Cryptos to a bearable amount.
Dude chill I didn't say that I was having a heart attack.
Sometimes hyperbole is funny
Anyone in CLOV? I bought some Friday hoping for some short squeeze magic tomororw
The squeeze came and went. Jan 27.
What ever you do, if it blows up cuz of WSB. Make sure to profit take Wednesday or Thursday. Definitely been a pattern with WSB and pumps and dumps. They run from Monday to Wednesday then profit take and slow bleed starts until it goes back to the old price point.
Not the same squeeze. Not sure how it will go.
The large short positions were exited end of January. Citadel for instance took a 50% hit in Jan and actually recovered pretty strong in Feb. The stock went from over 100% short interest to half that, to 1/5 that today.
Still lots of short positions - of course, this is a 1B company with a 10B market cap. Reported short interest is around 20% so the folks calling for a second squeeze are relying on that data being manipulated. I'm not big into conspiracy theories.
Happy to be wrong on this. What data set are you using to predict a squeeze?
I'm really sensible to people's reaction about volatility, because I believe a lot of new investors don't really know what they got themselves into. Good for you for not panicking, but the statement stands
Going by Trey Trades on youtube. He is pretty sure. Check his videos out
I just googled Trey Trades and he is tweeting that RBC is in trouble. Lol.
Edit: looks like his main gig is inside trading a company he is an executive with:
Trey Byus Net Worth (2021) | wallmine CA
Looks like i made mistake with bitcoin. Getting hammered again. Don't know if i dare to look in morning
Separate names with a comma.