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Gold/Mining/Energy : Day trading in Canada -- Ignore unavailable to you. Want to Upgrade?

To: the Chief who wrote (773)	10/9/1998 4:12:00 PM
From: keith massey	Read Replies (3) \| Respond to of 4467

Well said Chief... Actually it looks like nobody is telling me I can't have an account. I just got a private E-mail from a trader on Vancover Island that has an account with Datek. I ordered the Datek W8 form that Canadian citizens need to fill out before the get an account. However I haven't made up my mind on which U.S broker to try out yet. I have spent the day reading up on Cybertraders and MBtrader on S.I and find both very interesting. For both Cybertrader and MBtrader you get a full trading program (either Real Tick III or Cybertrader's home program). This comes loaded with everything you need to day trade U.S stocks (Real time, market depth, charts, technical analysis, etc). They charge you $300 a month for the service. However if you make enough trades a month (50-100 depending on the service) the system is free. These type of trading programs put Canada Stockwatch to shame. The problem with both these services is that they charge around $30/C a trade (5000 shares and less). Datek only charges $15C a trade. With the money you save on commission with Datek you could get the Real Tick service or other services and still have money left over. I still have a lot of research to do before I choose which service I am going to use. After a bunch of reading and a lot of help from people on S.I (thank you everyone) I have decided to purchase Metastock for Windows for technical analysis ($299U.S). I am still trying to decide on the right feed. Medium term T.A may be useless to 5 minute holding day traders but I find it very valuable for stocks I hold for several hours. It also helps you narrow in on stocks which might be possible day trades and gives you more confidence to buy a stock. I have not give up on day trading Canadian stocks but believe that the present technology available for trading Canadian stocks put that trader at a big disadvantage to brokers. Between slow discount brokers and poorly laid out trading sites (e.g. Canada Stockwatch) I think it is harder to win. PCquotes program looks good but at $500/month - give me a break. Best Regards KEITH