Retail Day Trading Notes


For those who are wondering if anyone is completing regular daily trades on the TSX Venture Exchange, I hope my "Why I Trade Penny Stocks" posts shed some light on some of the workings of trading from your RSP and TFSA accounts.

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Its become very apparent that even though RBC Direct Investing has a "hyperactive trader status" level, they have difficulty providing adequate service to these members. (Clients who complete over 150 trades every 90 days.)

On Tuesday I had to call in and find out why my "buy order" was in "pending" status for over 5 minutes. I placed an order to buy 40,000 shares @ 6 cents/share for STK.V.  I would have purchased the last of the 6 cent stock and placed an immediate sell at 6.5 cents. But I got  order "pending"... "pending"...."pending". No flash trading here.

I called in and spoke to a rep. It turns out that I have too many orders in play (at best count maybe 50). A person has to go over my orders and determine I have enough cash to cover my orders. This takes time (once a person gets to it.) I informed the rep I had in excess of $25,000 in cash over and above my buy orders. Why cant they determine that sooner?

Again I was told I have too many orders for a quick assessment of where I stood cash wise.

She said maybe I should close some of my orders or buy at the ask.

I told her - you've never traded have you.

Why do you even bother to offer a "hyperactive status". It means the client does a lot of trades!

I'm currently trading with $95,000. What can I expect in service when I'm trading with $150,000 or $200,000???

Do you know people use "twitter" and "blogs" today to pass information around these days to peers. Mention that at you're next weekly meeting with the gang (and ask for more staff or computers).

During our call she approved the order and I didn't have any further "pending" issues.

But tomorrow is another day....


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On a separate subject.

Consolidating trades at the end of the day.

I got caught in some kind of drip program on a SOH.V order today.

My order was for 12000 shares @ .095

It took 23 orders to fill it @ 6.95 a trade.

Its not until the next day that RBC Direct does a consolidation at the end of the day. They add up all the orders for a particular stock (in this case "SOH.V Buy orders") and only apply one commission fee. No matter how many orders I place during the day for that stock. Its one commission for the day.

Some discount providers charge a separate commission fee if the order is broken up or if you place more than one order on the same stock for the day. With RBC Direct its one commission under the hyperactive status level.

If you are planing to complete many day trades, its best you know before hand what the commission is going to cost you. It could be a deal breaker for making a profit.

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Here is a screen shot of what my activity page looked like yesterday after the close..







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Here is a screen shot of the Level II trades for this stock  at end of day. Most of my order was filled before 1:40 pm.

(The drip continued all day.)


Depth/Level II for Soho Resources Corp.(SOH:CA)
3:59 PM EST Nov 9, 2010

Time & Sales

	Price	Size	Time	Buy	Sell
	0.09	500	15:59:30	Close Anonymous 001	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.09	500	15:53:33	Close Anonymous 001	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.09	500	15:47:34	Close Anonymous 001	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.09	6000	15:42:37	Close Scotia Capital Inc. P.O. Box 4085, Station A Scotia Plaza 40 King Street West Toronto, ON M5W 2X6 (416) 863-7411 085	Close Scotia Capital Inc. P.O. Box 4085, Station A Scotia Plaza 40 King Street West Toronto, ON M5W 2X6 (416) 863-7411 085
	0.09	500	15:41:34	Close Anonymous 001	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.09	500	15:35:34	Close Anonymous 001	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.09	500	15:29:34	Close Anonymous 001	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.09	500	15:23:33	Close Anonymous 001	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.09	500	15:17:33	Close Anonymous 001	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.095	500	15:11:33	Close TD Securities Inc. P.O. Box 1, TD Tower 12th Floor, 66 Wellington Street West Toronto, ON M5K 1A2 (416) 982-8222 007	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.095	500	15:05:33	Close TD Securities Inc. P.O. Box 1, TD Tower 12th Floor, 66 Wellington Street West Toronto, ON M5K 1A2 (416) 982-8222 007	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.095	500	14:59:34	Close TD Securities Inc. P.O. Box 1, TD Tower 12th Floor, 66 Wellington Street West Toronto, ON M5K 1A2 (416) 982-8222 007	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.095	500	14:53:34	Close TD Securities Inc. P.O. Box 1, TD Tower 12th Floor, 66 Wellington Street West Toronto, ON M5K 1A2 (416) 982-8222 007	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.095	500	14:47:34	Close TD Securities Inc. P.O. Box 1, TD Tower 12th Floor, 66 Wellington Street West Toronto, ON M5K 1A2 (416) 982-8222 007	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.095	500	14:41:34	Close TD Securities Inc. P.O. Box 1, TD Tower 12th Floor, 66 Wellington Street West Toronto, ON M5K 1A2 (416) 982-8222 007	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.095	500	14:35:34	Close TD Securities Inc. P.O. Box 1, TD Tower 12th Floor, 66 Wellington Street West Toronto, ON M5K 1A2 (416) 982-8222 007	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.095	500	14:29:34	Close TD Securities Inc. P.O. Box 1, TD Tower 12th Floor, 66 Wellington Street West Toronto, ON M5K 1A2 (416) 982-8222 007	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.095	500	14:23:33	Close TD Securities Inc. P.O. Box 1, TD Tower 12th Floor, 66 Wellington Street West Toronto, ON M5K 1A2 (416) 982-8222 007	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.095	500	14:17:34	Close TD Securities Inc. P.O. Box 1, TD Tower 12th Floor, 66 Wellington Street West Toronto, ON M5K 1A2 (416) 982-8222 007	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.095	500	14:11:33	Close TD Securities Inc. P.O. Box 1, TD Tower 12th Floor, 66 Wellington Street West Toronto, ON M5K 1A2 (416) 982-8222 007	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.095	500	14:05:34	Close TD Securities Inc. P.O. Box 1, TD Tower 12th Floor, 66 Wellington Street West Toronto, ON M5K 1A2 (416) 982-8222 007	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.095	500	13:59:33	Close TD Securities Inc. P.O. Box 1, TD Tower 12th Floor, 66 Wellington Street West Toronto, ON M5K 1A2 (416) 982-8222 007	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.095	500	13:53:33	Close TD Securities Inc. P.O. Box 1, TD Tower 12th Floor, 66 Wellington Street West Toronto, ON M5K 1A2 (416) 982-8222 007	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.095	500	13:47:33	Close TD Securities Inc. P.O. Box 1, TD Tower 12th Floor, 66 Wellington Street West Toronto, ON M5K 1A2 (416) 982-8222 007	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.095	1500	13:44:56	Close TD Securities Inc. P.O. Box 1, TD Tower 12th Floor, 66 Wellington Street West Toronto, ON M5K 1A2 (416) 982-8222 007	Close Blackmont Capital Inc. P.O. Box 779 Suite 900 181 Bay Street Toronto, ON M5J 2T3 (416) 864-3600 046
	0.095	500	13:41:33	Close TD Securities Inc. P.O. Box 1, TD Tower 12th Floor, 66 Wellington Street West Toronto, ON M5K 1A2 (416) 982-8222 007	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.095	500	13:39:15	Close TD Securities Inc. P.O. Box 1, TD Tower 12th Floor, 66 Wellington Street West Toronto, ON M5K 1A2 (416) 982-8222 007	Close Canaccord Capital Corporation P.O. Box 2200 Suite 1900 609 Granville Street Vancouver, BC V7Y 1H2 (604) 643-7300 033
	0.095	1000	13:39:15	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002	Close Canaccord Capital Corporation P.O. Box 2200 Suite 1900 609 Granville Street Vancouver, BC V7Y 1H2 (604) 643-7300 033
	0.095	500	13:35:33	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002
	0.095	500	13:29:33	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002	Close RBC Capital Markets P.O. Box 50, Royal Bank Plaza, South Tower 200 Bay Street Toronto, ON M5J 2W7 (416) 842-2000 002

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This morning I took a screenshot of my activity page to show that the stocks get consolidated and only one commission is applied.  (The consolidation takes place whether one order is broken up in many pieces or even if I place several orders throughout the day for the same stock.) Not all brokers do this so its best to check with yours.
Remember the commission costs could be a profit breaker for you.







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Thanks for checking out my page. Red Mars

Why I Trade Penny Stocks - Part 23

Why I Trade Penny Stocks - Part 26

Why I Trade Penny Stocks - Part 27

"To turn $100 into $110 is work. To turn $100 million into $110 million is inevitable."   Edgar Bronfman