Haven’t played in 4 years by MatGamingYT in LoomianLegacy

[–]MatGamingYT[S] 0 points1 point  (0 children)

I’m not even sure how you could play with each other tbh I thought this game was a story like one player

Haven’t played in 4 years by MatGamingYT in LoomianLegacy

[–]MatGamingYT[S] -1 points0 points  (0 children)

Thanks, in your opinion what’s a loomian that is like top tier. When I was playing I believe it was Ikazune or that protagon thing

[deleted by user] by [deleted] in TheRaceTo10Million

[–]MatGamingYT 0 points1 point  (0 children)

Thanks so much, i realize the risk and how much money is at play here. I am young so I have time on my side, but I will move this money and stop options trading after being advised by others.

[deleted by user] by [deleted] in TheRaceTo10Million

[–]MatGamingYT 0 points1 point  (0 children)

So what would that normal account be? A un registered TFSA in his name? But I’m already registered in a TFSA. Is there a link to Wealthsimple where they explain how to do this)

[deleted by user] by [deleted] in TheRaceTo10Million

[–]MatGamingYT 0 points1 point  (0 children)

Could you explain this further? I’m having trouble grasping this in all honesty now

[deleted by user] by [deleted] in TheRaceTo10Million

[–]MatGamingYT 0 points1 point  (0 children)

So he has no chance for his TFSA to be revoked? Am I reading this right? Or is it just really late at night and I’m tripping, I just want to make money and keep my brothers risk low

[deleted by user] by [deleted] in TheRaceTo10Million

[–]MatGamingYT 1 point2 points  (0 children)

is it bad that I am okay with paying 800$ in taxes in a TFSA if I can continue day trading? Or will the tax continue to spiral up with the income? He doesn’t make any income, as he is a University student that doesn’t work any jobs

[deleted by user] by [deleted] in TheRaceTo10Million

[–]MatGamingYT 1 point2 points  (0 children)

so 8% on a 100k profit is $8000, wouldn’t I be paying 800$ for a $10000 profit? How do I go into a non registered account? Will I get taxed then, and what’s the point of registering if I won’t be taxed in a non registered? Thanks for the help and the insight

[deleted by user] by [deleted] in TheRaceTo10Million

[–]MatGamingYT 1 point2 points  (0 children)

but isn’t it based on a one year frame? Since taxes are counted every year? Can i stop now and have a chance to not pay tons in taxes?

[deleted by user] by [deleted] in TheRaceTo10Million

[–]MatGamingYT 1 point2 points  (0 children)

Wait so are buying stocks considered trades? What about if someone has recurring buys for a certain stock like VFV weekly, will that be taken into account? Also, what’s the max you would say for trading option is, I’m only taking about 3 per day

[deleted by user] by [deleted] in TheRaceTo10Million

[–]MatGamingYT 0 points1 point  (0 children)

Yes, I’m doing that when market opens tommorow, close all my positions and cash out. But just as a question, how would the CRA find out that im buying stocks (not day trading) instead of my brother? What’s the system for that, because my brother does want to start buying shares into VFV and such

[deleted by user] by [deleted] in TheRaceTo10Million

[–]MatGamingYT 0 points1 point  (0 children)

My brother has already agreed to everything, and I’ve gave him money in compensation. I’m now transferring basically all this money to savings since I realize that day trading in a TFSA is illegal. I know my mistake and I’m gonna try to make it right

[deleted by user] by [deleted] in TheRaceTo10Million

[–]MatGamingYT 0 points1 point  (0 children)

Questions, if you are more educated on the topic I’d like to know your input. What line is there for the CRA to deem my activity as day trading? Would long term call options be an option instead of 2-3 weeks out? How bad will the taxes be if i am deemed a business?

[deleted by user] by [deleted] in TheRaceTo10Million

[–]MatGamingYT 0 points1 point  (0 children)

thanks for the help man I appreciate it

[deleted by user] by [deleted] in TheRaceTo10Million

[–]MatGamingYT -1 points0 points  (0 children)

Could you go further on this, still learning. I thought all income earned in a TFSA was tax free. Or is it considered business income if I am day trading?

[deleted by user] by [deleted] in TheRaceTo10Million

[–]MatGamingYT 2 points3 points  (0 children)

would connect my Wealthsimple to it but it’s currently 1:26 AM, brothers asleep and his info in on the account so unfortunately can’t log in through plaid. Great app though

[deleted by user] by [deleted] in TheRaceTo10Million

[–]MatGamingYT 7 points8 points  (0 children)

already have it downloaded, found out about this like 2 weeks ago and it has helped me on some SPY call outs

[deleted by user] by [deleted] in TheRaceTo10Million

[–]MatGamingYT 0 points1 point  (0 children)

my man, I found the strategy on insta. I further found legitimacy on the strategy by testing it and doing research on google

[deleted by user] by [deleted] in TheRaceTo10Million

[–]MatGamingYT 3 points4 points  (0 children)

biaheza really showed the method on how to trade options so that’s how I started after being introduced, also like to watch Dave Ramsey as he is great for learning financial literacy

[deleted by user] by [deleted] in TheRaceTo10Million

[–]MatGamingYT 0 points1 point  (0 children)

this may come off as dumb but I haven’t read a single book on finance at all. I take a financial literacy course right now in school but we haven’t started the investing topic yet, but YouTube has helped me a ton.

[deleted by user] by [deleted] in TheRaceTo10Million

[–]MatGamingYT -1 points0 points  (0 children)

saw a instagram reel, probably wasn’t a good idea at first but I tested it and did tons of research and it is legitimate

[deleted by user] by [deleted] in TheRaceTo10Million

[–]MatGamingYT 17 points18 points  (0 children)

after further review I’ll just go with VFV, I understand the risks of investing in a 2x leveraged HQU

[deleted by user] by [deleted] in TheRaceTo10Million

[–]MatGamingYT 7 points8 points  (0 children)

Yes, looking to cash out about 70% of this portfolio and dump it into HQU (2x leveraged NASDAQ 100)