Sunday, December 30, 2012

My (soon to be) first purchases

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.

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