1 30 FREE Trades in 30 Days with Questrade Posted by shawn | at 5:24 PM

In addition, you can receive a referral credit of $50 CAD. Contact me via twitter or leave a comment for details.

THE LOW DOWN ON 30/30

Questrade is offering new clients 30 free trades in 30 days. To be eligible, you must open a new Questrade account with a minimum of CAD $1,000 by 11:59 p.m. EST July 31st, 2009, and fully fund the account by August 14th, 2009. New accounts by existing or former clients do not qualify.

How to qualify: Open a new Questrade account with CAD $1,000 by 11:59 p.m. EST July 31st, 2009. The account must be fully funded (minimum $1000) by August 14th, 2009. You are also eligible if you transfer an account from another broker. The transfer must be initiated by July 31st, 2009 to be eligible.

When your account is fully funded, it is considered an active account. The 30 free trades must be used within 30 days of account activation. Any trades after 30 days do not qualify. Qualifying clients will be charged commissions for trades and rebated the full amount within 60 days of account activation. This offer applies to equity trades only and does not apply to option orders. Minimum account funding is CAD $1000.

General: Participants must be permanent residents of Canada, and must be the age of majority in their province of residence. This contest is subject to all applicable federal, provincial, and municipal laws and regulations and is not available for residents of Quebec or Questrade employees. Foreign currency trading accounts (forex) are not eligible. Other trade fees including exchange and ECN fees may apply. Amounts quoted are in CAD. This offer is not available in conjunction with any other Questrade offer – except FREE TO TRANSFER, please see below.

THE LOW DOWN ON ZERO

Questrade will pay your transfer-out fees up to CAD $150 when you move a minimum of CAD $25,000 to Questrade from another brokerage. Payment of the transfer-out fee is capped at $150 and is limited to one account per client. Accounts transferred must remain open with Questrade for a minimum of three months in order to be eligible for the account transfer rebate.

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0 How to play PennyStocks Posted by shawn | at 5:16 PM

To make money on penny stock trading you first need to throw out everything you know or think you know about stock trading and come to the realization that

Pennystock trading is penny stock gambling.

Over the years I have honed a maverick trading style based on realistic view of what this “market” is actually all about. If you can get in the proper mind set, you can read the future movement of a penny stock and know when to get in and get out.

To snap you of the world of real stocks let me give you Penny Stock rules to live by:

1.) Penny Stocks do not represent real companies. They exist for one reason, to make people money on the increase of share prices. The transfer of wealth from the dumb to the smart. (Of course, a few Penny Stocks are real companies, but finding them is next to impossible and you will be wasting time that could be better spent on fake companies.)

2.) Great news can be a powerful mover of penny stocks but other than temporarily increasing the price of the stock’s shares it means nothing.

3.) Newsletter tips are just that – tips. Study the newsletters to see who gets the best bounce from their picks but never believe what they tell you.

This is how it generally works: Newsletter or newsletters decide to promote a stock. Many times they work for the Penny Stock “company” and get free shares or buy cheap shares for their services before the promotion starts.They release their newsletters promoting the stock, the penny stock company then will release some “great” news to coincide with the newsletter pump. The stock doubles or more, the newsletter folks and insiders involved with the companies sell shares into the buying spree. After an hour, day, or week the stock returns back to its original price or lower.

4.) Any good news about a penny stock should be considered a LIE.

5.) Never fall in love with a penny stock, it’s like falling in love with your blow up doll.

Ok, now I hope you realize the whole Penny Stock game is the dirty underbelly of stock trading. The thing is, if you understand and live buy rules 1 – 5 above you can make a lot of money.

Why? Stock goes up you get in for a short while and take a small percentage profit, get out. Why would you care if the stock goes back down and those that don’t understand rules 1-5 have lost money? You have made a profit and are already in your next play. Oh, one more rule but it isn’t mine – “pigs get slaughtered” – those that hang on hoping for more profits or to recover a loss aren’t in the penny trading business very long.