u/DantebeaR

I'm trying to find the line between retail TA and institutional TA. I know institutions don't generally rely on lines on a chart but here are a few things that I have found they could possibly rely upon. However, as I have absolutely zero experience, and no real contacts in the field to get a first hand opinion, I figured I'd ask here.

Do institutions rely upon:

VWAP

prior day high/low

overnight high/low

opening range (1m/5m/15m/30/ ??????)

initial balance (first hour? ie 2 TPO?)

value area

prior settlement

option strikes

gamma levels

liquidity pools (actual limit orders, not assumed based on the chart)

cash open / cash close

large resting liquidity

volatility/risk thresholds

I do appreciate any insight I could get.

I’m looking for some advice because I feel like I’m stuck between bad options.

I currently have about $57,000 in unsecured debt spread across high-interest lenders and a $28k LOC jointly held with wife:

easyfinancial ($19.5k) Fairstone ($15.9k) Money Mart ($11k) LendDirect ($6k) Credit card (~$5k) TD Line of Credit (~28K) Jointly held with Wife.

Total monthly payments on just those are about $2,250–$2,500/month.

My situation:

I have a stable income making $2,600 net semi-monthly I have a fully paid off 2023 Ram 1500 Sport with 50,000km on it House is not an option for borrowing (multiple owners on title who will not support using it as collateral) Credit isn’t great (obviously, given the lenders I’m using) I got the loans when I was in a bad situation. I was very uneducated on money management and by the time it was too late, I was more worried about my wife leaving me than I was about the debt.

What I’ve looked into:

1. Consumer Proposal

I’ve spoken to two trustees and was quoted $1,450–$1,600/month, which seems insanely high to me considering my debt. So I’m struggling to see the benefit.

2. Consolidation loan (secured by vehicle)

3. Staying the course

Just keep paying ~$1,850/month and try to aggressively pay things down.

Where I’m stuck:

I thought a consumer proposal would reduce payments significantly, but what I’m being quoted doesn’t reflect that at all. My wife also doesn't know about the high-interest loans so I have to tell her which is likely going to result in a horrible situation where I will either have support (unlikely) or will be on my own to not only deal with the debt, but also my life falling apart.

I have considered selling the vehicle but I am having trouble weighing the benefits. We live in an area where a vehicle is need to get to any place we need to go (school, work, groceries etc). Buses do not come by our area. I was also considering selling the truck and getting a cheaper vehicle. However, the problem I am having is I know the truck is in excellent condition because it has been maintained very well whereas if I get a cheaper vehicle, I have no idea what work I will need to put into it to keep it going.

I am just looking to see what options people suggest?

I’m planning to talk to my wife about everything and figure this out properly, but I want to make sure I understand my options before going into that conversation.

Any advice or experiences would be appreciated.