How many Canadian Swing Traders on this site? | SwingTradeBot.com

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How many Canadian Swing Traders on this site?

by Deaddog 4 months ago

There are not too many places where one can have a conversation about trading. I find that when I mention that I trade stocks, most of my acquaintances tell me how risky it is and quickly change the subject.
There doesn't seem to be much activity on this forum but if enough people are interested it has to potential to be a interesting and entertaining place to visit and participate.
I see a few topics get quite a few views but very few comments. I'd like to see that change.
Iy you are at all interested please comment.

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TraderMike 4 months ago

This is Michael, the founder of SwingTradeBot. I don't trade the Canadian markets but I'm happy to discuss general trading topics & technical analysis.

To answer your question, there are currently just under 300 active users on the Canadian version of SwingTradeBot. There's an order of magnitude more on the US version but even there it's been difficult to get much discussion going in the forum. I'd love to get more activity going but perhaps I just don't have the necessary scale.

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ImpatientSeal981 4 months ago

Hi Mike.
Im finding it a very useful tool. It allows me to quickly do your technical analysis on a list of stocks. I can then zone in on the stocks that have positive technicals. I then research those ones by viewing there video story or there current presentations. I look at their financials etc. If I'm interested in one I do my own technical analysis using a charting tool provided by my streaming tsx, tsxv feed from Quotestream. I come from both angles this way. A good story is not always rewarded but technicals help match a good story with stocks that have positive momentum. If the technicals go negative I'm disciplined and will sell. If I'm up I will put in market stop losses or simple take the profit and try to re enter at a lower price. Your monthly subscription is paid for in one day of time saved by filtering the stocks in my lists. If a stock changes to a positive uptrend or a negative downtrend it is apparent in my daily scans of my watchlists in Swing Tradebot.

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TraderMike 4 months ago

Thanks for the positive feedback & I'm glad you're getting value from your subscription! I think it's very fairly priced. 😁

Blending Technicals with Fundamentals is a really good idea. That's what I learned from William O'Neil and "Trader Vic" Sperandeo's books. Those books were foundational in my trading & investing journey.

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Deaddog 4 months ago

Hey Michael. How often does an "active user" log in?
I've seen forums quite active with only a few participants but they for the most part were focused on either buy and hold investing or scalping futures. I'm hoping to find a group of stock traders.
Is the US forum any more active? I have a US trading account and also swing some US stocks.

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TraderMike 4 months ago

I don't track how often people log in, I only store their last log-in... but depending on whether you're using the same browser & device, you can log in once and stay logged in for a month or more. So my active count was the number of people who last logged in within the last 30 days.

The US forum is more active but not by much.

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Caribsailor 4 months ago

I'm a Canadian trader in the Caribbean for the winter.... Interesting question... following

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TraderMike 4 months ago

in the Caribbean for the winter - sounds like you're living right! 😁

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Caribsailor 4 months ago

HAHA no... I'm a washed out holdeler from the 80's. Was introduced to swing trading 2 years ago... Just trying to gain some knowledge :)

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Deaddog 4 months ago

The problem with the 80s was the cost of commissions. 3% each side made trading difficult when you started 6% in the hole.
Canada was way behind in allowing discount brokers. I started serious trading when IB opened in Canada.
Now with a couple zero commission brokers available moving in and out of stocks isn't too difficult.
Also the introduction of the TFSA so that you weren't taxed on every capital gain helped.
FWIW I'm freezing my ass of up here in the frozen north. (Actually a pretty mild winter so far)

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Cos3 4 months ago

well interesting, i'm almost an addict trader ;) so i swing, day and investing in good stocks. Always trying to improve myself. i was questionning myself if we should try to create some specific chat topics. I don't know if we can create a swing chat room with sub subject and a day trading or investing chat room with sub categories. What i find hard to build up a conversation is the fact i don't really see where we should write... but if there's is too much topics it might be hard to find too. Sorry my english is not perfect and it's not very clear in my mind so i imagine for you...

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TraderMike 4 months ago

I agree with DeadDog -- feel free to create a new topic for a question / discussion item that's doesn't fit a currently existing topic. But if it's stock specific, please use the already-existing stock thread. You can search for existing topics before creating a new topic. One thing we don't need to worry about at this point is too many topics 😁😬

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Deaddog 4 months ago

I think anytime you have a specific question, you could probably create a topic. Although I have found in other forums that it's quite easy to wander of topic.
How do you differentiate your Swing and day trades from your investments? Do you have different accounts?

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Cos3 4 months ago

Yes i have a many different accounts so i can try different strategies. I'm trying to swing in good stocks only... but trying mean i do not respect always my plan. So in my TFSA it's more investing on long term (i'm using also "magic formula" from Joel Greenblat to build watch list here but i add more criterias (i'm not sure i'm better but i'm more selective). What i like to do is looking at my preferred stocks and set alerts when i have good buy signal on weekly (with the tool i have with Desjardins/Disnat Trading central). I'm also looking a lot at the most bullish setup as charts to see if some stocks i know or i like. When i think it's gonna drop, i reduce my positions on stock i'm less confident or i think it will sell lower and looking for new opportunities (it's making a kind of sector rotation naturally). It's not perfect but i try to learn (had a slow starts in 2023 on canadian stocks). I also like the power of the growth stocks, but again i'm waiting signal to enter.

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Deaddog 4 months ago

I have pretty well reduced the number of startegies I use to one. I call it my Will Rogers startegy as it reflects his comments on the stock market.
"Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don't go up, don't buy it."
I just added if it goes down after you buy it, sell it!!

I can sum up my strategy as I buy stocks that are trending up and I don't hold any losers in my portfolio. I exit when the trend changes.
Over the years my big losses were because I refused to take small losses.

I have accounts with BMO, National Bank Direct and just opened an account with Wealthsimple as they offered me a new iPhone if I gave them some business.

You have mentioned "Good stocks" a couple of times. What is your definition of a good stock. I think there is a difference between a good company and a good stock. A good stock, to me, trends up in a consistant manner.

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Cos3 4 months ago

In fact i think you can replace "good stocks" by "good companies" and add liquidity to the stock to get a really good stock. I like the companies where it show steady growth (Sales and EPS, with low PEG), high return on equity, low debt . Company who don't sell more shares than they have revenue, where the direction don't eat a big part of the lunch with their options plan or other compensations... For sure each sectors have their own particularities but added to your Rogers Strategy or this "Ricky one : https://prnt.sc/mpNZkH0PsP-5 ) it helps in the picking of stocks.

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Deaddog 4 months ago

I went to the web page and found a diagram that made little sense to me.
Rejection Consolidation and Confirmation of what exactly?
Maybe you can explain the "Ricki one :" strategy
I have had good companies turn into bad companies long before I was aware of it and have rode the stock down. (Backin the day when I paid attention to analysts) NorTel, Research in Motion and Enron to name a few.
The tech wreck in 2001 kind of woke me up. If you don't hold on to losers you never have big losses.
On the other hand I've had stocks with poor fundamentals double in a short time.

There is a difference between a trader and an investors.
I've heard all sorts of expanations;
An investor is a trader who is under water and doesn't want to take a loss!
An investor buys assets; Traders speculte on the price of those assets.

The name of the game for me is to make money. I don't care what a company does or how it does it as long as the stock trends in a positive direction. Like Will Rogers says if it don't go up don't buy it.

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Cos3 4 months ago

the screen shot just show the % Ricky suggest buy on trade reversal (10% during the drop... 20% on the consolidation... so 70-80% after the confirmation of the return to the positive uptrend). What are your preferred time frame ? the stock can be on downtrend on monthly but on daily and weekly reversed on uptrend ? I like to have at least the stock over 20 d MA (with bollinger) positive in the good way. Do you use the scan "New uptrend" or Calm after storm to enter on lower price or do you look only for 52w h and for the breakout?

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Deaddog 4 months ago

My time frame is the daily chart. It's the timeframe I use to scan for potential trades.
My process is to scan of patterns then check the higher time frame (weekly) to see where in the stage the stock is in.
I have very few indicators on my charts. Only a couple ma's. (10 & 50 on the weekly and 10, 20 & one other on the daily)
I haven't used any of the scans on this site yet. I have scans set up on Stockcharts.com.
I scan for and keep a list of stocks making new highs. If it looks like a breakout from consolidation I'll open a position. Other than that I'll scan my new high list for pullbacks.
I rarely trade stocks trading below the 50wk ma. Although if one is brought to my attention with a decent R/R I may take a position.
I tend to hold stocks until the trend changes so some holds last quite a while. I took a position in CLS in July and am still holding.

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Caribsailor 4 months ago

Agreed. I don't put much thought into a company. (good or bad) My focus is on their stock movement.

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Deaddog 4 months ago

Anything in particular that you look for?
I'm mostly looking for stocks making new highs or pulling back from new highs. Part of the reason is there is no overhead resistance. No one that's underwater waiting to get out at break-even.
Second set-up I look for is a breakout from consolidation (The longer the better)

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GoodWhale725 4 months ago

Hi Mike,
I recently discovered this website and found it very useful, I agree with you that Canadians are not that active when it comes to discussions, Kudos to you for starting this, please keep up the good work, I will be happy to share my views on this forum! Thank you

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TraderMike 4 months ago

Welcome aboard!

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GoodWhale725 4 months ago

Thanks Mike

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Deaddog 4 months ago

The more people joining the discussion the better. I'd realy like to develope an active forum for Canadian swing traders.