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High Frequency Trading
The highfreqtrading subreddit is a place for people of all backgrounds to join in informed discussion around high-frequency trading systems with an emphasis on sharing direct expertise and firsthand knowledge.
We are launching CGCX.io Academy in Singapore with the first Crypto Trading Workshop taking place in Singapore on 31st August. Share this with your network and spread the word. When everyone is included, everyone wins. DM us if you would like to attend. #Singapore #Academy #CryptoTrading
11-05 00:23 - 'Multibot is a new word in the crypto trading' (self.Bitcoin) by /u/multibotio removed from /r/Bitcoin within 3-13min
''' The cryptocurrency market has an unprecedented growth now. The crypto industry surprises everyone with the rapidity and pace of its development. However such an impressive leap has its own flip side of the coin. Today the situation is the following: the crypto market develops so quickly that infrastructure solutions for providing the industry with convenient tools for working with digital assets are not keeping up with it. Seeing this problem our team has set a goal to correct this situation by creating Multibot, a platform that can make easier the cryptocurrencies trading. What is the situation on the market right now and what can Multibot offer? Let’s find out everything in a proper order. ''' Multibot is a new word in the crypto trading Go1dfish undelete link unreddit undelete link Author: multibotio
[uncensored-r/Bitcoin] Multibot is a new word in the crypto trading
The following post by multibotio is being replicated because the post has been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7auc0i The original post's content was as follows:
The cryptocurrency market has an unprecedented growth now. The crypto industry surprises everyone with the rapidity and pace of its development. However such an impressive leap has its own flip side of the coin. Today the situation is the following: the crypto market develops so quickly that infrastructure solutions for providing the industry with convenient tools for working with digital assets are not keeping up with it. Seeing this problem our team has set a goal to correct this situation by creating Multibot, a platform that can make easier the cryptocurrencies trading. What is the situation on the market right now and what can Multibot offer? Let’s find out everything in a proper order.
The 4th way of algorithmic trading (Signal Processing)
Algorithmic trading types classified based on development perspectives: 1) Technical Analysis 2) Statistics and Probability 3) Machine Learning I took a different path which is not discussed widely in this subreddit. 4) Signal Processing I'm not a good storyteller, but this is my journey and advices for the beginners First, my background: - Electrical and Electronic engineer, - Software developer (20+ years) - Trader (5+ years) - Algorithmic trader (3+ years)
How I Found The Alpha:
Before algorithmic trading, I was somehow profitable tradeinvestor. Like most of you, when I began to algorithmic trading, I tried to find magic combination of technical indicators and parameters. Also I threw OHLCV and indicators data into the RNN for prediction. I saw that, even very simple strategies like famous moving average crossover is profitable under right market conditions with correct parameters. But you must watch it carefully and if you fell it is not working anymore, you must shut it down. It means you must be experienced trader to take care of your algorithm. I am a fulltime software developer, algorithmic trading was my side project also it became my hobby. I tried to learn everything about this industry. I watched and listened hundreds of hours of podcasts and videos in all my free time like commuting from home to work. These are the most useful to me: - Chat with traders: https://www.youtube.com/channel/UCdnzT5Tl6pAkATOiDsPhqcg - Top traders unplugged: https://www.youtube.com/usetoptraderslive - Ukspreadbetting: https://www.youtube.com/channel/UCnKPQUoCRb1Vu-qWwWituGQ Also I read plenty of academic papers, blog posts and this subreddit for inspiration. Inspiration came from my field, electronics. I will not give you much detail about it but I have developed a novel signal processing technique. It is a fast and natural technique which I couldn’t find any article or paper which mention this method. It can transform any interval price data into meaningful, tradable form. The best part is, it doesn't require any parameter and it adapts to changing market conditions intrinsically. These are the concepts that inspire me: - Information Theory: https://en.wikipedia.org/wiki/Information_theory - Signal Processing: https://en.wikipedia.org/wiki/Signal_processing - ADC: https://en.wikipedia.org/wiki/Analog-to-digital_converter
Output of the process can be used to develop endless type of profitable strategies. I made some money with different momentum based strategies while thinking about how I can use this technique more efficiently. I like to combine different fields. I think trading and life itself have many things in common. So beside general trading concepts, I think that I can try to implement concepts of the life. Also because of the parameterless design, it's more like a decision making process than an optimization problem. I searched proverbs and advices for better decision making. I handled them one by one and thought how I could implement them in a unified strategy while preserving the parameterless design. In time, this process was significantly improved stability and reliability while it was evolving from momentum to mean reversion. These are some proverbs which I use them at various aspects of the algorithm:
- “The bamboo that bends is stronger than the oak that resists.” (Japanese proverb) - "When the rainwater rises and descends down to where you want to cross, wait until it settles." (Sun-Tzu) - "If you do not expect the unexpected you will not find it, for it is not to be reached by search or trail" (Heraclitus)
If you wonder how I implement them in the code, think about the last one; how do you define the unexpected, how to wait for it and how to prepare your algorithm to generate profit. By the way, I strongly recommend: The Art of War (Sun-Tzu)
I have plenty of ideas waiting to be tested and problems that need to be solved. Nevertheless these are the some of the backtest results, for the time being: Crypto: - Market fee and spread are considered, slippage is not. - For multiple assets testing; Survivorship bias was attempted to be eliminated using historical market rank of the assets. Data is acquired from coinmarketcap.com weekly report. ETH / BTC BNB / BTC Binance Historical Top 100 / BTC Other Markets: My main focus is crypto trading. But all the improvements are cross checked in different markets and intervals and validated empirically and logically. It can’t beat every asset and every interval but it tends to work profitably across them. https://preview.redd.it/l865fw6mjfd51.png?width=900&format=png&auto=webp&s=ff217d35637b41e26db8d7cfc3df14c3fb7ec14e Live: The algorithm is running live for over 1.5 years with evolving strategies I mention before. The last one is running for months.
Warnings and Advices:
- Bugs: A few months ago, before bedtime, I released new version for fixing small cosmetic bug and gone to sleep. When I woke up, I saw that nearly 40% of my account wiped out in a few hours. Instead of live settings, I published test settings. It was very painful. I have been coding since childhood, so everyone must be careful. I recommend, implement hard limit for stopping the algorithm. - Fully Automatic Strategy: Finding an edge is not enough. If you need fully automated trading system, you need a portfolio manager (a lot of research is going on at this field) and especially an asset selector mechanism which is maybe more important than the edge itself. If your algorithm is not be able to select which assets to trade, you must select manually. It's not an easy task and it's prone to error. I was very lucky with that: A mechanism already contained in the algorithm was used to rank and select the assets based on their momentums. - Fee-Spread: Because of the market fee and spread, trading is a negative sum game. Do not ignore it when backtesting your algorithm. - Slippage: It's really a problem for low volume assets like penny stocks and lower market cap crypto currencies. Stay away from them or play with small capital or find a way to determine how much money you can use. - Latency: Don’t think it's a HFT only problem. If your algorithm synchronize multiple assets data from the market and run calculations before sending order back to the market, you lose significant amount of time. This usually causes losses that you have not considered before, especially in a volatile environment. Also if you want to develop realtime strategy, you must seriously consider what you will do in downtime. - Datasource: This is the most important part for preparation before developing you strategy. If you don’t have good, reliable data; you cannot develop a good strategy. For free data for various market; I suggest investing.com, but you should consider that volume data is not provided. For crypto, all of the exchanges provide their real data for any asset and any interval, you can use them freely. Also you can buy data , especially if you want intraday data, but I can't suggest any because I never tested them. - Biases: Before developing algorithm, please take a look at and understand the common biases like: Survivorship bias, Look-ahead bias, Time period bias. Or you can be sure that you will face them when you go live. - Live trading: When you think your algorithm can make money, don’t wait till perfection. Go live as soon as possible with small capital to wake up from your dreams and face with the facts early. - Psychology: If your education is based on STEM and you don’t have trading experience, it’s not easy in the real world to swallow all those ups and downs that you see in minutes during backtest. It can affect your mood and your life much more than you think. I suggest, work with a professional trader or only invest what you can really afford to lose.
After over 3 years of journey, I have a profitable algorithm that I trust. I was supposed to lie on the beach and drink beer while my algorithm printing money. But I am consistently checking it’s health and I have always things to do like all software development projects. I posted some of the backtest results, but I don’t know are they considered P/L Porn or not. If so, I can remove it. Sorry about mysterious parts of this post. I removed some parts unwillingly before posting, but there is really a thin line between giving away your edge freely (also it means loosing it) and inspiring people to find their own way.
“Non est ad astra mollis e terris via" - Seneca
For those engineers and EE students who are bombing my inbox for guessing what I did; I can not write all of you in private, also I want to explain it publicly. I must say, you are on the wrong way. If I open sourced the signal processing part, probably it doesnt mean anything to you and you can not turn it into a profitable algorithm. I have to clarify that; before I developed the technique, I knew what I am looking for exactly. Signal processing is not magically trading the market, I am trading the market. it's just a tool to do what is in my mind near perfectly. Also proverbs are the way of thinking. I read them and think if it means anything for trading. Lastly watch the Kung Fu Panda :) https://www.youtube.com/watch?v=rHvCQEr_ETk
You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments. It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Limited Supply - There will only ever be 21,000,000 bitcoins created and they are issued in a predictable fashion, you can view the inflation schedule here. Once they are all issued Bitcoin will be truly deflationary. The halving countdown can be found here.
Open source - Bitcoin code is fully auditable. You can read the source code yourself here.
Accountable - The public ledger is transparent, all transactions are seen by everyone.
Decentralized - Bitcoin is globally distributed across thousands of nodes with no single point of failure and as such can't be shut down similar to how Bittorrent works. You can even run a node on a Raspberry Pi.
Censorship resistant - No one can prevent you from interacting with the bitcoin network and no one can censor, alter or block transactions that they disagree with, see Operation Chokepoint.
Push system - There are no chargebacks in bitcoin because only the person who owns the address where the bitcoins reside has the authority to move them.
Low fee scaling - On chain transaction fees depend on network demand and how much priority you wish to assign to the transaction. Most wallets calculate on chain fees automatically but you can view current fees here and mempool activity here. On chain fees may rise occasionally due to network demand, however instant micropayments that do not require confirmations are happening via the Lightning Network, a second layer scaling solution currently rolling out on the Bitcoin mainnet.
Borderless - No country can stop it from going in/out, even in areas currently unserved by traditional banking as the ledger is globally distributed.
Portable - Bitcoins are digital so they are easier to move than cash or gold. They can even be transported by simply memorizing a string of words for wallet recovery (while cool this method is generally not recommended due to potential for insecure key generation by inexperienced users. Hardware wallets are the preferred method for new users due to ease of use and additional security).
Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage. Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".
Securing your bitcoins
With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
If you prefer to "Be your own bank" and have direct control over your coins without having to use a trusted third party, then you will need to create your own wallet and keep it secure. If you want easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor, Ledger or ColdCard is recommended. Alternatively there are many software wallet options to choose from here depending on your use case.
If you prefer to let third party "Bitcoin banks" manage your coins, try Gemini but be aware you may not be in control of your private keys in which case you would have to ask permission to access your funds and be exposed to third party risk.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email! 2FA requires a second confirmation code to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".
Where can I spend bitcoins?
Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out. If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. If you would prefer to keep it simple there are several good options. You can view the global node distribution here.
Just like any other form of money, you can also earn bitcoins by being paid to do a job.
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.
The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
one bitcoin is equal to 100 million satoshis
1,000 per bitcoin
used as default unit in recent Electrum wallet releases
1,000,000 per bitcoin
colloquial "slang" term for microbitcoin (μBTC)
100,000,000 per bitcoin
smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki. Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval. Welcome to the Bitcoin community and the new decentralized economy!
You may have heard about off-shore tax havens of questionable legality where wealthy people invest their money in legal "grey zones" and don't pay any tax, as featured for example, in Netflix's drama, The Laundromat. The reality is that the Government of Canada offers 100% tax-free investing throughout your life, with unlimited withdrawals of your contributions and profits, and no limits on how much you can make tax-free. There is also nothing to report to the Canada Revenue Agency. Although Britain has a comparable program, Canada is the only country in the world that offers tax-free investing with this level of power and flexibility. Thank you fellow Redditors for the wonderful Gold Award and Today I Learned Award! (Unrelated but Important Note: I put a link at the bottom for my margin account explainer. Many people are interested in margin trading but don't understand the math behind margin accounts and cannot find an explanation. If you want to do margin, but don't know how, click on the link.) As a Gen-Xer, I wrote this post with Millennials in mind, many of whom are getting interested in investing in ETFs, individual stocks, and also my personal favourite, options. Your generation is uniquely positioned to take advantage of this extremely powerful program at a relatively young age. But whether you're in your 20's or your 90's, read on! Are TFSAs important? In 2020 Canadians have almost 1 trillion dollars saved up in their TFSAs, so if that doesn't prove that pennies add up to dollars, I don't know what does. The TFSA truly is the Great Canadian Tax Shelter. I will periodically be checking this and adding issues as they arise, to this post. I really appreciate that people are finding this useful. As this post is now fairly complete from a basic mechanics point of view, and some questions are already answered in this post, please be advised that at this stage I cannot respond to questions that are already covered here. If I do not respond to your post, check this post as I may have added the answer to the FAQs at the bottom.
How to Invest in Stocks
A lot of people get really excited - for good reason - when they discover that the TFSA allows you to invest in stocks, tax free. I get questions about which stocks to buy. I have made some comments about that throughout this post, however; I can't comprehensively answer that question. Having said that, though, if you're interested in picking your own stocks and want to learn how, I recommmend starting with the following videos: The first is by Peter Lynch, a famous American investor in the 80's who wrote some well-respected books for the general public, like "One Up on Wall Street." The advice he gives is always valid, always works, and that never changes, even with 2020's technology, companies and AI: https://www.youtube.com/watch?v=cRMpgaBv-U4&t=2256s The second is a recording of a university lecture given by investment legend Warren Buffett, who expounds on the same principles: https://www.youtube.com/watch?v=2MHIcabnjrA Please note that I have no connection to whomever posted the videos.
TFSAs were introduced in 2009 by Stephen Harper's government, to encourage Canadians to save. The effect of the TFSA is that ordinary Canadians don't pay any income or capital gains tax on their securities investments. Initial uptake was slow as the contribution rules take some getting used to, but over time the program became a smash hit with Canadians. There are about 20 million Canadians with TFSAs, so the uptake is about 70%- 80% (as you have to be the age of majority in your province/territory to open a TFSA).
Eligibility to Open a TFSA
You must be a Canadian resident with a valid Social Insurance Number to open a TFSA. You must be at the voting age in the province in which you reside in order to open a TFSA, however contribution room begins to accumulate from the year in which you turned 18. You do not have to file a tax return to open a TFSA. You do not need to be a Canadian citizen to open and contribute to a TFSA. No minimum balance is required to open a TFSA.
Where you Can Open a TFSA
There are hundreds of financial institutions in Canada that offer the TFSA. There is only one kind of TFSA; however, different institutions offer a different range of financial products. Here are some examples:
The Canadian big 5 bank branches and most other financial institutions offer a TFSA that allows you to buy mutual funds, hold cash, GICs, term deposits, and possibly ETFs. This is a good choice if you want guaranteed returns or diversified investing.
There are a number of on-line banks such as Tangerine, Simplii Financial, Oaken Financial, and many more that offer the TFSA.
The discount DIY brokerage arms of the big 5 banks give you more choices, including stocks, warrants, bonds and options. There are also standalone brokers like IBKR Canada, Questrade, Qtrade, and Virtual Brokers, among others, that offer this.
Some brokerages and financial advisors also offer TFSAs that give you these investment choices, in different formats such as:
Traditional brokerage, where a stockbroker invests your money (BMO Nesbitt Burns, RBC Dominion Securities and others)
Financial advisor who will invest your money according to a plan you put together with the advisor (TSI Network and many others)
"Robo" advisors such as Wealthsimple, RBC InvestEase, BMO SmartFolio, or Wealthbar
BMO's AdviceDirect, which is a semi-directed hybrid between standalone DIY investing and fully-advised investing, where you operate on a DIY basis but have access to a registered investment advisor (a live person) who can give you suggetions and advice.
Your TFSA may be covered by either CIFP or CDIC insuranceor both. Ask your bank or broker for details.
What You Can Trade and Invest In
You can trade the following:
GICS, mutual funds, term deposits
individual common and preferred stocks listed on an "approved exchange" which is the TSX, TSX-V, NASDAQ, NYSE, and about 20 other exchanges worldwide, but not the US OTC pink sheets. Many examples, such as Suncor, Linamar, Apple, any of the big banks, and many thousands of others, when you want to buy into an individual company
stock-like securities like REITS, ETFs and ETNs, including 2x and 3x leveraged
gold and silver certificates
cash of many countries (CAD/USD/EUGBP/AUD/NZD/JPY/CHF and many others)
government bills and bonds of most countries, subsovereigns like Canadian provincial bills and bonds, and most corporations
options that trade on the Montreal Exchange or various options exchanges in the USA and the rest of the word (see FAQ for details)
gold, silver bullion certificates
shares in certain private companies -- but consult your tax advisor on this
What You Cannot Trade
You cannot trade:
commodity futures contracts
option spread positions (see FAQ for details)
anything that requires a margin account, meaning, a special kind of account that allows you to borrow money directly from the broker against the assets you have in your account and the assets you intend to buy.
crypto (although there exist crypto ETNs that you can buy)
Again, if it requires a margin account, it's out. You cannot buy on margin in a TFSA. Nothing stopping you from borrowing money from other sources as long as you stay within your contribution limits, but you can't trade on margin in a TFSA. You can of course trade long puts and calls which give you leverage.
Rules for Contribution Room
Starting at 18 you get a certain amount of contribution room. According to the CRA: You will accumulate TFSA contribution room for each year even if you do not file an Income Tax and Benefit Return or open a TFSA. The annual TFSA dollar limit for the years 2009 to2012 was $5,000. The annual TFSA dollar limit for the years 2013 and 2014 was $5,500. The annual TFSA dollar limit for the year 2015 was $10,000. The annual TFSA dollar limit for the years 2016 to 2018 was $5,500. The annual TFSA dollar limit for the year 2019 is $6,000. The TFSA annual room limit will be indexed to inflation and rounded to the nearest $500. Investment income earned by, and changes in the value of TFSA investments will not affect your TFSA contribution room for the current or future years. https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/tax-free-savings-account/contributions.html If you don't use the room, it accumulates indefinitely. Trades you make in a TFSA are truly tax free. But you cannot claim the dividend tax credit and you cannot claim losses in a TFSA against capital gains whether inside or outside of the TFSA. So do make money and don't lose money in a TFSA. You are stuck with the 15% withholding tax on U.S. dividend distributions unlike the RRSP, due to U.S. tax rules, but you do not pay any capital gains on sale of U.S. shares. You can withdraw *both* contributions *and* capital gains, no matter how much, at any time, without penalty. The amount of the withdrawal (contributions+gains) converts into contribution room in the *next* calendar year. So if you put the withdrawn funds back in the same calendar year you take them out, that burns up your total accumulated contribution room to the extent of the amount that you re-contribute in the same calendar year.
E.g. Say you turned 18 in 2016 in Alberta where the age of majority is 18. It is now sometime in 2020. You have never contributed to a TFSA. You now have $5,500+$5,500+$5,500+$6,000+$6,000 = $28,500 of room in 2020. In 2020 you manage to put $20,000 in to your TFSA and you buy Canadian Megacorp common shares. You now have $8,500 of room remaining in 2020. Sometime in 2021 - it doesn't matter when in 2021 - your shares go to $100K due to the success of the Canadian Megacorp. You also have $6,000 worth of room for 2021 as set by the government. You therefore have $8,500 carried over from 2020+$6,000 = $14,500 of room in 2021. In 2021 you sell the shares and pull out the $100K. This amount is tax-free and does not even have to be reported. You can do whatever you want with it. But: if you put it back in 2021 you will over-contribute by $100,000 - $14,500 = $85,500 and incur a penalty. But if you wait until 2022 you will have $14,500 unused contribution room carried forward from 2021, another $6,000 for 2022, and $100,000 carried forward from the withdrawal 2021, so in 2022 you will have $14,500+$6,000+$100,000 = $120,500 of contribution room. This means that if you choose, you can put the $100,000 back in in 2022 tax-free and still have $20,500 left over. If you do not put the money back in 2021, then in 2022 you will have $120,500+$6,000 = $126,500 of contribution room. There is no age limit on how old you can be to contribute, no limit on how much money you can make in the TFSA, and if you do not use the room it keeps carrying forward forever. Just remember the following formula: This year's contribution room = (A) unused contribution room carried forward from last year + (B) contribution room provided by the government for this year + (C) total withdrawals from last year. EXAMPLE 1: Say in 2020 you never contributed to a TFSA but you were 18 in 2009. You have $69,500 of unused room (see above) in 2020 which accumulated from 2009-2020. In 2020 you contribute $50,000, leaving $19,500 contribution room unused for 2020. You buy $50,000 worth of stock. The next day, also in 2020, the stock doubles and it's worth $100,000. Also in 2020 you sell the stock and withdraw $100,000, tax-free. You continue to trade stocks within your TFSA, and hopefully grow your TFSA in 2020, but you make no further contributions or withdrawals in 2020. The question is, How much room will you have in 2021? Answer: In the year 2021, the following applies: (A) Unused contribution room carried forward from last year, 2020: $19,500 (B) Contribution room provided by government for this year, 2021: $6,000 (C) Total withdrawals from last year, 2020: $100,000 Total contribution room for 2021 = $19,500+6,000+100,000 = $125,500. EXAMPLE 2: Say between 2020 and 2021 you decided to buy a tax-free car (well you're still stuck with the GST/PST/HST/QST but you get the picture) so you went to the dealer and spent $25,000 of the $100,000 you withdrew in 2020. You now have a car and $75,000 still burning a hole in your pocket. Say in early 2021 you re-contribute the $75,000 you still have left over, to your TFSA. However, in mid-2021 you suddenly need $75,000 because of an emergency so you pull the $75,000 back out. But then a few weeks later, it turns out that for whatever reason you don't need it after all so you decide to put the $75,000 back into the TFSA, also in 2021. You continue to trade inside your TFSA but make no further withdrawals or contributions. How much room will you have in 2022? Answer: In the year 2022, the following applies: (A) Unused contribution room carried forward from last year, 2021: $125,500 - $75,000 - $75,000 = -$24,500. Already you have a problem. You have over-contributed in 2021. You will be assessed a penalty on the over-contribution! (penalty = 1% a month). But if you waited until 2022 to re-contribute the $75,000 you pulled out for the emergency..... In the year 2022, the following would apply: (A) Unused contribution room carried forward from last year, 2021: $125,500 -$75,000 =$50,500. (B) Contribution room provided by government for this year, 2022: $6,000 (C) Total withdrawals from last year, 2020: $75,000 Total contribution room for 2022 = $50,500 + $6,000 + $75,000 = $131,500. ...And...re-contributing that $75,000 that was left over from your 2021 emergency that didn't materialize, you still have $131,500-$75,000 = $56,500 of contribution room left in 2022. For a more comprehensive discussion, please see the CRA info link below.
FAQs That Have Arisen in the Discussion and Other Potential Questions:
Equity and ETF/ETN Options in a TFSA: can I get leverage? Yes. You can buy puts and calls in your TFSA and you only need to have the cash to pay the premium and broker commissions. Example: if XYZ is trading at $70, and you want to buy the $90 call with 6 months to expiration, and the call is trading at $2.50, you only need to have $250 in your account, per option contract, and if you are dealing with BMO IL for example you need $9.95 + $1.25/contract which is what they charge in commission. Of course, any profits on closing your position are tax-free. You only need the full value of the strike in your account if you want to exercise your option instead of selling it. Please note: this is not meant to be an options tutorial; see the Montreal Exchange's Equity Options Reference Manual if you have questions on how options work.
Equity and ETF/ETN Options in a TFSA: what is ok and not ok? Long puts and calls are allowed. Covered calls are allowed, but cash-secured puts are not allowed. All other option trades are also not allowed. Basically the rule is, if the trade is not a covered call and it either requires being short an option or short the stock, you can't do it in a TFSA.
Live in a province where the voting age is 19 so I can't open a TFSA until I'm 19, when does my contribution room begin? Your contribution room begins to accumulate at 18, so if you live in province where the age of majority is 19, you'll get the room carried forward from the year you turned 18.
If I turn 18 on December 31, do I get the contribution room just for that day or for the whole year? The whole year.
Do commissions paid on share transactions count as withdrawals? Unfortunately, no. If you contribute $2,000 cash and you buy $1,975 worth of stock and pay $25 in commission, the $25 does not count as a withdrawal. It is the same as if you lost money in the TFSA.
How much room do I have? If your broker records are complete, you can do a spreadsheet. The other thing you can do is call the CRA and they will tell you.
TFSATFSA direct transfer from one institution to another: this has no impact on your contributions or withdrawals as it counts as neither.
More than 1 TFSA: you can have as many as you want but your total contribution room does not increase or decrease depending on how many accounts you have.
Withdrawals that convert into contribution room in the next year. Do they carry forward indefinitely if not used in the next year? Answer :yes.
Do I have to declare my profits, withdrawals and contributions? No. Your bank or broker interfaces directly with the CRA on this. There are no declarations to make.
Risky investments - smart? In a TFSA you want always to make money, because you pay no tax, and you want never to lose money, because you cannot claim the loss against your income from your job. If in year X you have $5,000 of contribution room and put it into a TFSA and buy Canadian Speculative Corp. and due to the failure of the Canadian Speculative Corp. it goes to zero, two things happen. One, you burn up that contribution room and you have to wait until next year for the government to give you more room. Two, you can't claim the $5,000 loss against your employment income or investment income or capital gains like you could in a non-registered account. So remember Buffett's rule #1: Do not lose money. Rule #2 being don't forget the first rule. TFSA's are absolutely tailor-made for Graham-Buffett value investing or for diversified ETF or mutual fund investing, but you don't want to buy a lot of small specs because you don't get the tax loss.
Moving to/from Canada/residency. You must be a resident of Canada and 18 years old with a valid SIN to open a TFSA. Consult your tax advisor on whether your circumstances make you a resident for tax purposes. Since 2009, your TFSA contribution room accumulates every year, if at any time in the calendar year you are 18 years of age or older and a resident of Canada. Note: If you move to another country, you can STILL trade your TFSA online from your other country and keep making money within the account tax-free. You can withdraw money and Canada will not tax you. But you have to get tax advice in your country as to what they do. There restrictions on contributions for non-residents. See "non residents of Canada:" https://www.canada.ca/content/dam/cra-arc/formspubs/pub/rc4466/rc4466-19e.pdf
The U.S. withholding tax. Dividends paid by U.S.-domiciled companies are subject to a 15% U.S. withholding tax. Your broker does this automatically at the time of the dividend payment. So if your stock pays a $100 USD dividend, you only get $85 USD in your broker account and in your statement the broker will have a note saying 15% U.S. withholding tax. I do not know under what circumstances if any it is possible to get the withheld amount. Normally it is not, but consult a tax professional.
The U.S. withholding tax does not apply to capital gains. So if you buy $5,000 USD worth of Apple and sell it for $7,000 USD, you get the full $2,000 USD gain automatically.
Tax-Free Leverage. Leverage in the TFSA is effectively equal to your tax rate * the capital gains inclusion rate because you're not paying tax. So if you're paying 25% on average in income tax, and the capital gains contribution rate is 50%, the TFSA is like having 12.5%, no margin call leverage costing you 0% and that also doesn't magnify your losses.
Margin accounts. These accounts allow you to borrow money from your broker to buy stocks. TFSAs are not margin accounts. Nothing stopping you from borrowing from other sources (such as borrowing cash against your stocks in an actual margin account, or borrowing cash against your house in a HELOC or borrowing cash against your promise to pay it back as in a personal LOC) to fund a TFSA if that is your decision, bearing in mind the risks, but a TFSA is not a margin account. Consider options if you want leverage that you can use in a TFSA, without borrowing money.
Dividend Tax Credit on Canadian Companies. Remember, dividends paid into the TFSA are not eligible to be claimed for the credit, on the rationale that you already got a tax break.
FX risk. The CRA allows you to contribute and withdraw foreign currency from the TFSA but the contribution/withdrawal accounting is done in CAD. So if you contribute $10,000 USD into your TFSA and withdraw $15,000 USD, and the CAD is trading at 70 cents USD when you contribute and $80 cents USD when you withdraw, the CRA will treat it as if you contributed $14,285.71 CAD and withdrew $18,75.00 CAD.
OTC (over-the-counter stocks). You can only buy stocks if they are listed on an approved exchange ("approved exchange" = TSX, TSX-V, NYSE, NASDAQ and about 25 or so others). The U.S. pink sheets "over-the-counter" market is an example of a place where you can buy stocks, that is not an approved exchange, therefore you can't buy these penny stocks. I have however read that the CRA make an exception for a stock traded over the counter if it has a dual listing on an approved exchange. You should check that with a tax lawyer or accountant though.
The RRSP. This is another great tax shelter. Tax shelters in Canada are either deferrals or in a few cases - such as the TFSA - outright tax breaks, The RRSP is an example of a deferral. The RRSP allows you to deduct your contributions from your income, which the TFSA does not allow. This deduction is a huge advantage if you earn a lot of money. The RRSP has tax consequences for withdrawing money whereas the TFSA does not. Withdrawals from the RRSP are taxable whereas they are obviously not in a TFSA. You probably want to start out with a TFSA and maintain and grow that all your life. It is a good idea to start contributing to an RRSP when you start working because you get the tax deduction, and then you can use the amount of the deduction to contribute to your TFSA. There are certain rules that claw back your annual contribution room into an RRSP if you contribute to a pension. See your tax advisor.
Pensions. If I contribute to a pension does that claw back my TFSA contribution room or otherwise affect my TFSA in any way? Answer: No.
The $10K contribution limit for 2015. This was PM Harper's pledge. In 2015 the Conservative government changed the rules to make the annual government allowance $10,000 per year forever. Note: withdrawals still converted into contribution room in the following year - that did not change. When the Liberals came into power they switched the program back for 2016 to the original Harper rules and have kept the original Harper rules since then. That is why there is the $10,000 anomaly of 2015. The original Harper rules (which, again, are in effect now) called for $500 increments to the annual government allowance as and when required to keep up with inflation, based on the BofC's Consumer Price Index (CPI). Under the new Harper rules, it would have been $10,000 flat forever. Which you prefer depends on your politics but the TFSA program is massively popular with Canadians. Assuming 1.6% annual CPI inflation then the annual contribution room will hit $10,000 in 2052 under the present rules. Note: the Bank of Canada does an excellent and informative job of explaining inflation and the CPI at their website.
Losses in a TFSA - you cannot claim a loss in a TFSA against income. So in a TFSA you always want to make money and never want to lose money. A few ppl here have asked if you are losing money on your position in a TFSA can you transfer it in-kind to a cash account and claim the loss. I would expect no as I cannot see how in view of the fact that TFSA losses can't be claimed, that the adjusted cost base would somehow be the cost paid in the TFSA. But I'm not a tax lawyeaccountant. You should consult a tax professional.
Transfers in-kind to the TFSA and the the superficial loss rule. You can transfer securities (shares etc.) "in-kind," meaning, directly, from an unregistered account to the TFSA. If you do that, the CRA considers that you "disposed" of, meaning, equivalent to having sold, the shares in the unregistered account and then re-purchased them at the same price in the TFSA. The CRA considers that you did this even though the broker transfers the shares directly in the the TFSA. The superficial loss rule, which means that you cannot claim a loss for a security re-purchased within 30 days of sale, applies. So if you buy something for $20 in your unregistered account, and it's trading for $25 when you transfer it in-kind into the TFSA, then you have a deemed disposition with a capital gain of $5. But it doesn't work the other way around due to the superficial loss rule. If you buy it for $20 in the unregistered account, and it's trading at $15 when you transfer it in-kind into the TFSA, the superficial loss rule prevents you from claiming the loss because it is treated as having been sold in the unregistered account and immediately bought back in the TFSA.
Day trading/swing trading. It is possible for the CRA to try to tax your TFSA on the basis of "advantage." The one reported decision I'm aware of (emphasis on I'm aware of) is from B.C. where a woman was doing "swap transactions" in her TFSA which were not explicitly disallowed but the court rules that they were an "advantage" in certain years and liable to taxation. Swaps were subsequently banned. I'm not sure what a swap is exactly but it's not that someone who is simply making contributions according to the above rules would run afoul of. The CRA from what I understand doesn't care how much money you make in the TFSA, they care how you made it. So if you're logged on to your broker 40 hours a week and trading all day every day they might take the position that you found a way to work a job 40 hours a week and not pay any tax on the money you make, which they would argue is an "advantage," although there are arguments against that. This is not legal advice, just information.
The U.S. Roth IRA. This is a U.S. retirement savings tax shelter that is superficially similar to the TFSA but it has a number of limitations, including lack of cumulative contribution room, no ability for withdrawals to convert into contribution room in the following year, complex rules on who is eligible to contribute, limits on how much you can invest based on your income, income cutoffs on whether you can even use the Roth IRA at all, age limits that govern when and to what extent you can use it, and strict restrictions on reasons to withdraw funds prior to retirement (withdrawals prior to retirement can only be used to pay for private medical insurance, unpaid medical bills, adoption/childbirth expenses, certain educational expenses). The TFSA is totally unlike the Roth IRA in that it has none of these restrictions, therefore, the Roth IRA is not in any reasonable sense a valid comparison. The TFSA was modeled after the U.K. Investment Savings Account, which is the only comparable program to the TFSA.
The UK Investment Savings Account. This is what the TFSA was based off of. Main difference is that the UK uses a 20,000 pound annual contribution allowance, use-it-or-lose-it. There are several different flavours of ISA, and some do have a limited recontribution feature but not to the extent of the TFSA.
Is it smart to overcontribute to buy a really hot stock and just pay the 1% a month overcontribution penalty? If the CRA believes you made the overcontribution deliberately the penalty is 100% of the gains on the overcontribution, meaning, you can keep the overcontribution, or the loss, but the CRA takes the profit.
Speculative stocks-- are they ok? There is no such thing as a "speculative stock." That term is not used by the CRA. Either the stock trades on an approved exchange or it doesn't. So if a really blue chip stock, the most stable company in the world, trades on an exchange that is not approved, you can't buy it in a TFSA. If a really speculative gold mining stock in Busang, Indonesia that has gone through the roof due to reports of enormous amounts of gold, but their geologist somehow just mysteriously fell out of a helicopter into the jungle and maybe there's no gold there at all, but it trades on an approved exchange, it is fine to buy it in a TFSA. Of course the risk of whether it turns out to be a good investment or not, is on you.
Remember, you're working for your money anyway, so if you can get free money from the government -- you should take it! Follow the rules because Canadians have ended up with a tax bill for not understanding the TFSA rules. Appreciate the feedback everyone. Glad this basic post has been useful for many. The CRA does a good job of explaining TFSAs in detail at https://www.canada.ca/content/dam/cra-arc/formspubs/pub/rc4466/rc4466-19e.pdf
Unrelated but of Interest: The Margin Account
Note: if you are interested in how margin accounts work, I refer you to my post on margin accounts, where I use a straightforward explanation of the math behind margin accounts to try and give readers the confidence that they understand this powerful leveraging tool.
Just started wading into the crypto market this past March and have learned a couple of things, mostly from reading this reddit: Never share your recovery key words with anyone, EVER. It doesn’t matter how legit they appear to be, if they are asking for your 24 words, they are going to empty your wallet. Giving your words are worse than giving a mustache twirling stranger your debit card and bank pin. If you get your checking account emptied, you can call the police to report the theft and plead with the bank to get your funds returned. That is not really an option with crypto, you are just shit out of luck. Keep your key list someplace safe. Do not rely on anything on-line or on your computer. Your keys need to be written on paper, carved in stone or stamped on steel - don’t care which so long as it is physical not digital. Once you have your hard copy you need to double check, then triple check, the words themselves and the order of. You have your keys? Now put them in some place secure like your fire resistant file box, parents lock box or someplace that is understood to be depositor of things you really don’t want to lose. For fucks sake don’t use a screen capture you saved to Google Photo as your backup. All the Youtube videos, Coinwhatever articles and Crypto forecasts are all pretty much useless. The worst of them are trying influence the market with hype for their own gains or exist to collect the revenue for media content. Some of these may be legitimate but are only useful for people with wallets big enough that a 5% wobble in price and some good timing would outpace the fees for a profit that’s worth the effort. But those people already know what they are doing and don’t need a parrot to confirm. The Crypto environment is jam packed with hypers, and dreamers. Disregard half of everything you hear, see or read about Crypto and be very suspicious of the rest. Chances are that the browser plug-in or application you are using is, or will be, compromised. If you are using your phone for retail purchases or trading, only have enough funds to do what you need accessible from that device. At some point that phone is going to either die or get stollen. It’s a lot easier getting over $20 than $20k. The mechanics joke about “Good, Fast or Cheap - pick 2” holds true for the Crypto Trading platforms. Never leave coins that you are not currently trading with in a wallet supplied by what ever market you are using. Move anything you plan on holding to a wallet that you have the keys to. Don’t sit and watch the market do its thing, especially if you are holding. Ignore the market until you have a few dollars to put in, wait for a dip that strikes your fancy and buy, then go back to ignoring it. If you sit and stare, you start getting ideas & those usually don’t work out as planned for most of us. Acronyms, there are so many acronyms. If there is a glossary of acronyms for the Crypto world please link in the comments.
Geeq - A serious contender for the most game changing project of 2020.
Recently Posted in the Geeq Trading Channel by a community ambassador. I'd like to officially welcome all the new people to the Geeq community, this is going to be long but I'd just like to say a few words and get it out of the way. I've talked with (username removed) about the discussions of other projects in this channel, we agreed to let it happen until the official launch of the Geeq token as this is a community trading channel, and it isn’t trading as of yet. In a way it’s important to acknowledge the good and bad about the macro outlook of crypto so people can learn from the mistakes together, and we don’t want to discourage thoughtful and informative dialogue. (username removed) and I are community members, whatever we do or say may not be used against the Geeq core as of such so please take our views as just personal opinions, we will have many of them lol. The Why’s? Why did I invest in Geeq? Why did my initial evaluation increase week on week on the marketcap of Geeq?, before I really looked into Geeq I had a sell price point at $1, this was 9 months ago. Why am I now seeing the bigger picture of the potential behemoth Geeq is? Why is the team willing to work for free for all these years? Why is the marketing team doing this for free? They have a very lucrative business before they joined the wing’s of the Geeq protocol (and they still do). Why is it for free? Why is the team decked with the most experience individuals in their fields? Why is Ric Asselstine, the gentlemen that helped build Canada’s biggest software company doing $5 billion revenue a year dedicating so many years on Geeq’s protocol? Why is John P. Conley with all his insane credentials in game theory, mechanism design, mathematical economics, and public theory join the team and do it for free for all these years? Why is Stephanie So, CDO & Founder of Geeq dedicate all these years working for free for Geeq? She was the first to use machine learning on social science data at the National Center for Supercomputing Applications, and recently Dell named her top 4 Influential Women in tech, why is she doing this? Why is Lun-Shin Yuen working on Geeq for free? He was the THIRD engineer working there, they are now worth $77.23 Billion in market share and doing over $6.7 Billion of revenue a year. Why is he here? Why is Eric Ball the former treasurer of Oracle between 2005-2015 involved in Geeq? I looked up how well he managed the $60 billion Larry Ellison had, while he was in charge, Larry peaked to the 4th richest person in the world, Mr Ball was managing his money during then, so what does that say? Why is Ian Smith, a savant and expert in network and OS security and system theory working here for free? He is fluent in 20 coding languages, He helped teach Linux at Nasa, why is this gentlemen here? Why did Dr Yeap reach out to the Geeq team to join as an Advisor? He has dozens of patents under him that run for decade’s long. Why Did Kurt Hoppe, the current Director at Google of Product Management in the Android Automotive sector of Google join as an advisor recently? He is a Board member in the Internet of things consortium, Former Global Head of Innovation at General Motors and former Director at LG Electronics Smart Home & Smart TV, why is he wanting to get involved with Geeq? These are few of my personal opinions. Because they are thinking 100 years ahead, not 1 year ahead. Currently crypto is full of people that are looking to make a quick buck, this isn’t one of them, sure you may make some money but why sell yourself short when you look at the product they have designed, created, protected and about to implement to the world of technology. It’s the best security in software, BFT tolerance is 99%, Sybil, Wealth and Nation-State proof, money cannot determine the control of the protocol, hash power cannot determine the control of the protocol. This is huge, this isn’t the buzz word, no one gets excited over security, but to me it’s the biggest deal in the technology world, from this point on, anyone who builds on this is inherently protected from future law suits (e.g. hacks losing peoples funds) due to potential corruption in chains, what the ledger says, says as John puts it. It cannot be changed for any sort of benefit to an individual or nation-state, This means it’s appealing to IoT applications such as Smart cars (corrupt the data and you could drive a car off the cliff), Telemetry, streaming payments, peer to peer content, literally anything you can think of, this would be the best platform to do it with. Micropayments- 1/100th of a cent, streaming and paying per second can now be done due to this. Anonymous- No point showing everyone’s detail’s such as buying personal goods at a store, no one needs to know this type of data, it’s logical in the way it displays important information and weeds out unnecessary public data. Trustless- Edge Security, you can see as an individual who is playing by the rules or not. AMP- Algorithmic Monetary Policy embedded and coded to reduce the risk of sharp drops/sharp pumps, healthy flow. As stated in the White Paper as an example: “A 25 node network running at 20 TPS allows 630M transactions per year and creates 630GB of chain data. Transactions cost users $.0001 each and this generates a total of $62k revenue per year. Approximately $1.7k in $GEEQ is paid to each node per year for their validation services. Geeq receives $21k in annual revenue from one such geeqchain instance.” (Ref: Section 7.1). This is ONE example, ONE chain, it does not represent ONE company, it could be ONE function of ONE Company, my point is, this is scalable to the billions of IoT devices, this has no limit of data input, If you are using Geeq in a smart city, it will be doing Billions of transactions a day. Just one example. In 2017 there was 7 Billion IoT devices, 2019 the devices reached 26.66 Billion, During 2020 it’s expected to be 31 Billion IoT Devices, this is a growing market as you can tell, this is the future, Geeq will capitalize on this. The list goes on and on and on and on and on and on and on. So since this is a trading channel, this is my opinion as to why this may exceed a lot of peoples price points in the long-term. We have no chart to determine the value of this coin, but what you can value it is on the target market, potential marketshare, the teams credentials, the protocol’s potential, the protection of the protocol (patent). A lot of people coming in here throwing numbers out without any actual real evidence to back it up, everyone has there own personal opinion on prices, which is fine but please make the most educated guess you can with the information you have as of now, now rethink to yourself what Geeq is doing, and why I’m so bullish. This is the beginning, since Geeq is built on decentralization, it’s important we act as a community and treat each other with respect, this is a long journey and it’s just starting, this channel should be used to lean on each other and build a very healthy community because this is a very long road, the Geeq team lead by example by showing how much patience they have, they answer the same questions every 30 minutes, I have not seen a TG group that has done this with such respect to random people ( This was a big reason why I went all in). This has the right mixture to be really something big, and I really hope everyone here does their research on Geeq, I’m not technical but I can see what the vision is, what is my price point? How can you value the most powerful team, protocol and vision in crypto? You can’t put a price on a protocol that will be setting the standard. Website: https://geeq.io One Pager: https://geeq.io/one-page White Paper: https://geeq.io/geeq-white-paper-2/ Tokenomics: https://geeq.io/tokenomics/ Team: https://geeq.io/people/ Token Release Date/Time: https://geeq.io/geeq-token-generation-event/ I hope you enjoyed the read and take a look into the project. I genuinely think this is the biggest project of the year with enormous potential. Look at all the shitcoins that take off and then look at this team and the ambitions and development behind it and it will quickly become clear that this is the one hell of a project.
In other words, you expect the value of the crypto to decrease. You can make money on this in trading! If you go Long on a crypto, you are buying it because you expect it to increase in value. These are the basic mechanics of a trade. Let’s take BTC/USD as an example. If you expect Bitcoin to decrease in value against the Dollar, you want to ... 15 Cryptocurrency Trading Terms Everyone Should Learn. When you start trading in cryptocurrencies like Bitcoin and Ethereum or any other top 10, 20 or 100 crypto asset, you'll likely feel like everyone's speaking a different language. No one can blame you for that feeling, mainly because it's true. When it comes to crypto exchanges and online trading, orders in the order book are matched by a system called the matching engine. This system is what ensures that trades are executed – you could think of it as the brain of the exchange. This system, along with the order book, is core to the concept of electronic exchange. Here's the list of differences between a fiat-accepting exchange (Stage 1) and a Crypto-accepting exchange (Stage 2). Understanding Cryptocurrency Trading Pairs. After understanding the cryptocurrency trading process, it's time to dive deeper into the mechanics of the cryptocurrency trading pairs and how it works. Stage 1 We have prepared this crypto trading glossary to help. Please let us know if you want us to add any term to the crypto trading glossary and we’ll be happy to do so. Algorithm. A sequence of rules. It solves a problem or performs a task. Crypto trading platforms use algorithms to trade. The more complex it is, the more data the software can ...
Great Trading Tips for Trading Bitcoin and Other Assets & Some Words of Caution
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