Internet Resources for Day Traders in Canada

Part of Day Trading For Canadians For Dummies Cheat Sheet

Here are some good Web sites for Canadian day traders, offering day trading strategies, along with techniques and ideas on managing risk, taxes, and stress:

  • Bill Cara isn’t a day trader, but he is a full-time investor who pays careful attention to the markets. Each day on his blog he records his observations about what’s happening. Bill Cara’s blog is good reading.

  • Zen Trader is a blog written by Vancouver’s Jeff Pierce, who has been trading for 11 years. He’s a momentum trader, focusing on market timing. He updates his blog daily and has a plethora of interesting charts, economic commentary, and tips on how to trade stocks.

  • IndexArb.com has useful information about trading futures on the market indexes. IndexArb lists the premiums on different contracts, offers strategies for different market conditions, and gives you some good background information to help you make your own decisions.

  • MyPivots.com runs through key price and economic data every morning, with trading calculators and a forum. MyPivots is of most interest to people working with eMini index futures.

  • TraderInterviews.com features educational and inspirational discussions with different traders.

  • Trader Mike, (day trader Michael Seneadza), frequently updates his thought-provoking blog. It includes his trading journal, thoughts on the markets, and his own advice on day trading, which he admits is not definitive.

  • Traders Laboratory is a good site for meeting other day traders online, finding Web-based seminars, reading traders’ blogs, or checking out economic release calendars.

  • Facebook has brought together like-minded individuals who share their thoughts and ideas on day trading. Type “day trader” into the Facebook search bar to find the groups that are available. Here are a couple good ones to start out with:

  • Twitter is home to many interesting traders and investment professionals who are worth following, including

    • Jeff Pierce — author of Zen Trader

    • Mike Jackson — This Canadian bond trader tweets about bonds and other economic insights.

    • Jeremy Korpela — Korpela is a Calgary-based swing trader who posts his thoughts on the markets.

    • Brian Shannon — Shannon, a trader for 11 years, is author of Technical Analysis Using Multiple Timeframes.

    • Timothy Sykes — This penny stock trader turned $12,415 of his bar mitzvah money into $2 million.

    • Ashraf Laidi — CMC Markets’ chief market strategist has more than 8,000 followers who play close attention to his advice on the forex market.