Questrade Review 2020: Pros, Cons & Ratings ...

Question on Stops (manual exit vs stop limit) and trading system (ie: IQEdge, etc) for daytrading

I have been papertrading and reading up on everything for the last couple months as I am completely new to this World. A few questions here:
  1. What broker is good for the actual trading system. So Questrade has IQEDGE (for example) and then IB and Virtual Brokers have their own systems of course. Is there one system that active daytraders prefer OR any other loved systems beyond these? Most reviews have been heavily based on commissions, but I feel that I can get those down in cost eventually based on my trade volume and well, you have to spend money to make money right! I really want the best system and don't want to start with Questrade and then realize I should have gone with IB (for example) a few months later.
  2. Maybe I am completely missing out on something, but I am understanding that with TSX you cannot do a stop (just stop limit) from all my reading. How do you protect yourself properly? I understand I can set my limit and stop to be different, but I really would rather just have a market sell, as I am scared for the stop limit to skip over me. I am having a very high win rate practicing (I don't stay in the trade long and generally do around 1000 shares) but haven't experienced any drastic drops yet and want to understand the best risk management. If I am generally going with ~$20 stocks, do I set the stop limit around .10 off between stop & limit? Or do I watch for a drop and manually do a market sell if I see the market dipping (based on my exit strategy)?
Side note: I feel like I may eventually switch over to US markets or Forex but I want to start simple and with what I have been practicing so I am not stuck in 'reading/learning land' forever ;)
Thanks in advance, any info helps!!
submitted by itoaymadali to CanadianInvestor [link] [comments]

Question on Stops (manual exit vs stop limit) and actual trading system/program (Questrade, IB, VB) for new Daytrader

I have been papertrading and reading up on everything for the last couple months as I am completely new to this World. A few questions here:
  1. What broker is good for the actual trading system. So Questrade has IQEDGE (for example) and then IB and Virtual Brokers have their own systems of course. Is there one system that active daytraders prefer OR any other loved systems beyond these (fees ok as most likely my trading volume can offset cost a bit)? Most reviews have been heavily based on commissions, but I feel that I can get those down in price eventually based on my trade volume and well, you have to spend money to make money right! I really want the best system and don't want to start with Questrade and then realize I should have gone with IB (for example) a few months later.
  2. Maybe I am completely noobing out on this, but I am understanding that with TSX you cannot do a stop (just stop limit) from all my reading. How do you protect yourself properly? I understand I can set my limit and stop to be different, but I really would rather just have a market sell, as I am scared for the stop limit to skip over me. I am having a 80-100% win rate practicing but haven't experienced any drastic drops yet and want to understand the best risk management. If I am generally going with ~$20 stocks, do I set the stop limit around .10 off between stop & limit? Or do I watch for a drop and manually do a market sell if I see the market dipping (based on my exit strategy)?
Side note: I feel like I may eventually switch over to US markets or Forex but I want to start simple and with what I have been practicing so I am not stuck in 'reading/learning land' forever ;)
Thanks in advance!

submitted by itoaymadali to canadiandaytrading [link] [comments]

How to avoid Questrades hidden forex fees.

So I just found out recently that when I purchased US stocks with CAD on Questrade. They hid the forex fee through the conversion rate. This whole time when I was reviewing my trades I thought the exchange between CAD / USD was pretty much on par since it mentioned $0.00 commission. So after buying about $17k of stocks, it seems that I lost about $450 USD from conversion :( which is a lot for a 22 year old student who doesn't earn much.
Is there a way I can avoid the extra conversion costs? I don't have a US chequing account so could I bring USD to a bank and then send the money to questrade with US cash that I exchanged somewhere else at a lower cost.
Another option is swap my portfolio to Interactive Broker now that my portfolio is >$10k? But I'd need to wire the money over to then.
submitted by Musclechu to PersonalFinanceCanada [link] [comments]

MUST WATCH Before Joining Questrade!! - YouTube Questrade Review 2020 (PROS & CONS) - Online Stock Broker ... Questrade Review! IQ EDGE HOT KEYS & PLATFORM ISSUE - YouTube

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MUST WATCH Before Joining Questrade!! - YouTube

GET $50 IN FREE COMMISSIONS! http://www.questrade.com?refid=5d35f0e6ca378 In this video I explain my personal thoughts on the broker, Questrade. I compare Qu... In today's video I review Questrade and go over the pros and cons. Questrade is a Canadian online broker where you can buy and sell stocks and other investme... Questrade Review! IQ EDGE HOT KEYS & PLATFORM ISSUE My Trading Tools : My Broker : http://bit.ly/tzbroker Stock Scanner 1 : https://bit.ly/favStocks Stock Sc...

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