The Questrade account is my first attempt at self-directed
investing. I understand that I will make many "rookie mistakes" or even
some totally dumb decisions, but it is all part of the learning
process. I opened the account this past Friday and have set up some
purchases to automatically go through on Monday when the markets open. I
can't wait for things to get started!
Here is what I did:
XIC.TO Buy 12 Units Market ($19.40/share @ last close) [Canadian Exposure]
XWD.TO Buy 10 Units Market ($24.27/share @ last close) [International Exposure]
XBB.TO Buy 8 Units Market ($31.46/share @ last close) [Bond Exposure]
HBM.TO Buy 20 Units Limit @ $9.90/share Day ($9.93/share @ last close)
So why is HBM in that mix? I want to try playing the market a bit with a small amount of cash. If I get this stock I will set up a sell limit @ $10.89 (10% rise) and get a quick profit of $19.80 (my first 10 trades are free). This is an experiment only to see if I fully understand how all this works before I get big money involved.
I'll make a follow up post once the purchases go through listing what exactly ends up happening.
I've been reading books and blogs for months, now it is my turn to take a shot at investing.
Sunday, December 30, 2012
Here we go
I am in the healthcare field and up until now the entirety of my investment experience has been through mutual funds with Investors Group. I have minimal investment experience but I have been doing a lot of self education of late. I have been reading books, reading blogs, and fiddling with stock market simulators all with the goal of breaking free from the constant fees of a managed portfolio and eventually transitioning to a self directed one.
This is the extent of it. Maybe in the future I will go into more details about my other assets and my liabilities but that is a good start.
Current Investment Assets
Cash: $4000 (plus or minus some, that is the rough average)
TFSA through Investors Group: $9700 (50/50 between my wife and myself)
TFSA through Questrade: $1000 (in my name)
This is the extent of it. Maybe in the future I will go into more details about my other assets and my liabilities but that is a good start.
Current Investment Assets
Cash: $4000 (plus or minus some, that is the rough average)
TFSA through Investors Group: $9700 (50/50 between my wife and myself)
TFSA through Questrade: $1000 (in my name)
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