Profits Slipping Through my Fingers

31 Jan

Remember when  I bought Intel last Friday along with my other trade transaction.  Damn, I shouldn’t have sold out on Apple… why do I always get so impatient with Apple!!  Story of my life.

Yesterday, Intel was soaring high, I probably had a good $200+ in profit on my hands yet I didn’t hit the sell trigger. Today, Intel fell 1% and I couldn’t let any profit diminish before my eyes.  So I decided to sell at a measly $66.50 profit less $10 in commissions and interest rate.  You know what, watch it go up the very next day LOL!

Jan 25th- Bought INTC on Margin:  500 @ $20.99/share
Jan 31st- Sold INTC on Margin:  500 @ $21.12/share

Side Note:  I got a call last night from MBNA offering their famous 0% balance transfer that is good till September 2013.  The caller ID was unknown, and I almost decided to give him my bank information over the phone to do the balance transfer until my mom whispers to me, don’t give him your bank account number!!  Just then, I woke up from my trance.  Sometimes, it’s easy to just give out your information over the phone.  He knew my account balance and all, he was probably legitimate.  But still, if he’s calling you and wants your information.  Please do not give it out!

Today, I logged into my MBNA account and transferred $8000.00 to my ING Chequing account in a secured environment.  This money will go towards my Questrade Margin account that usually costs me 6.25%.  Questrade increased their rates over the last while and I am not too happy with that.

 

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4 Responses to “Profits Slipping Through my Fingers”

  1. Liquid January 31, 2013 at 2.33 #

    I didn’t know Questrade charges 6.25%. I believe at most banks like BMO, TD, etc, it’s between 4% and 5% for both CDN and US margin accounts. Nice job with the swing trading. Some profit is better than nothing. I have Intel in my RSP. It’s one of my favorite US companies because it has a 4.25% dividend, plus it grows its dividend every year :0) If they fall below $20 I plan to buy some more and hold it forever 😀

    • agentfang January 31, 2013 at 2.33 #

      Yea it’s a good stock, just that I was on margin and didn’t want to be on the negative side. I was waiting for it to go ex-dividend but with the risk of it going further down, I sold it. Yea questrade used to have more favorable rates at 4.25% but they raised it recently.

  2. Alex Yang (@yyangalex) February 1, 2013 at 2.33 #

    thats a fast trade! in a mega cap too

    • agentfang February 1, 2013 at 2.33 #

      Yea, it was all on margin.. didn’t want to get caught in it. But I should have kept it as always… the next day the stock goes up!

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