Tag Archives: Questrade

I am margin free!

19 Apr

Sorry, I haven’t been in the mood lately to blog about stocks.  The stock markets have been giving me a queasy feeling in my tummy.

On Monday, April 15th, every stock I had was in the red!  I decided to sell my Potash that was on margin at a loss.  I also transferred $2200 into my USD margin to wipe out my margin balance there.  So I am margin free!!  I don’ t have to pay stupid little interest at the rate of 6% to Questrade.

This is in preparation for my move from Questrade to Virtual Brokers.  A couple of days ago, I finally mailed my application to Virtual Broker’s head quarters.  (I was over by 6 grams, but I took the risk of just putting on a 63 cent stamp instead of $1.10.)  I know sometimes, I’m a cheapo, but it was in those standardized envelopes.

One of my reason for switching brokerage is that Questrade was charging 6% for CAD and 6.25% USD for any money that is borrowed in their accounts.  Their interest rate is at least 2% higher than other online brokerages.  And I don’t want to pay more than I have to.

At Virtual Brokers, their interest rate is 4.5% for CAD and USD for funds that are on margin.  This beats Questrade.  Their 99 cent commission is the biggest lure for me.

If I like their platform, I will consider moving my RRSP and TFSA over.  But I want to test it first before I make the entire switch over.

Side Note:  I went over to my local Community Savings credit union to help a coworker sort and count his nickles, dimes, and quarters at thi’s coin machine.  The branch had no customers.  The customer representative saw me and showed me how to use the coin machine.  After it finished counting all those coins, I had $20.70!  She was friendly and tried to get me to sign up for their chequing account.  It’s unlimited transactions with a monthly fee of $2.00 which will end by April 2013.

I’d be interested in opening an account with them since they do have branches locally.  But I enjoy my free banking at ING Direct where I can use their ABMs.

I got a free key chain out of it with a couple of  “coins” I can dispense from to use in shopping carts.  Neat eh?

Pumping up my Margin account

25 Mar

I’m tired of paying 6% on my Questrade Margin account, so I am transferring $7569.86 over to bring my CAD balance to zero.  I still have a balance of $1938.09 USD which I am going to leave as the Canadian dollar hasn’t been strong lately.  Don’t want to pay extra conversion rates.

I think I am going to take a break from trading in my account unless I see an opportunity to jump in or out.

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.

 

Crazy Sells and Buys

17 Sep

Today, I just sold off four stocks to revamp my portfolio.

CHE.UN from my Scotia Itrade – This unit trust had been good to me.  I had a pretty good run with this one, but over the last few months, it’s been taking a beating.  I am sad to let this one go actually.  It had been paying me out consistently at $40/month.  Sometimes, it’s better to sell out before it goes for a free fall.  I had hopes it’ll bounce up, but hit a road block.

CSCO from my Scotia Itrade –  This recent buy has been a little to slow to pick up a rebound. The free up money will either go to pay off some debt that has been adding up for me.

NM from my TFSA Questrade –  Had chances of selling at a small profit.  My mentality back then was to hold and hope for bigger gains.  Lesson learned is to profit whenever and go onto the next best thing.  Held this falling one for a good 9 months.  Really dissapointing.

UCO from my TFSA Quetrade –  Crude oil hasn’t risen as fast as I thought it would for this year.  Another big loss I took to set forth another direction in my trading style. 

Here are my buys to replace my sellers: 

I picked up 2000 shares of GIX.TO @ 35 cents.  It had a good pop up today.  Hoping this one will make a good run out before hitting its peak. 

I’ve added more to my position at UC.TO.  The average cost now is at 40,000 shares @10.65 cents.  This can either end up badly or make me really happy down the road.  Check back in a few months.  

Best Buy (BBY) 100 @ 37.15(USD) is purely for seasonal play.  Waiting on the Oct 5th dividend and the uptick in the spirit of Christmas!  Hoping this one will bring me a good present!

Time for me to let these budding penny stocks to blossom when they are ready!

Questrade Cash Margin Account

12 Jul

I’ve been a client of Questrade since Oct 2009 for RSP and TFSA.  Since I had Scotia Itrade for my cash margin account, I didn’t want to spread my money too far out.  But with each trade at $19.99, it’s starting to weigh down on me.  I finally decided to opened a cash margin account with Questrade to cut trading costs as much as possible.  This account will purely be take a profit basis. 

Starting with $5000, my goal is to grow this tiny account to $7500 on swing trading by the end of this year.

So far, I have only deposited $3750.  It’s still short $1250 as I don’t have enough money right now to fund it.  I’m on my way.  I bought BMO at $5754.95 ($2004.95 is on margin).  I am up $262.05, 4.55%.

TFSA- New Pickings!

12 Jan

It’s 2010 and TFSA is on my top to do list! 

Tax Free Savings Account is a wonderful vehicle to grow your savings.  Contributions is $5000 max per year.  Last year, I opened up an ING Direct TFSA.  I contributed/withdrew money from my savings account thinking as long as I didn’t put anything over $5000, I’ll be ok, right!?  There’s a big BUT… whatever you withdraw from your account, you can’t put this amount back in the same year.  You have to wait till next year to contribute again.  I find that a little silly since I did over contributed for 2009 and be penalized for it even though my account never went over $5000!  This was a big mistake on my part as interest rates is at its all time lows… earning interest in a savings account is like shaking your piggy bank.  In the meantime, the stock market was on its road to recovery.  If I had stuck $5000 into some stock back in March 2009… I could have grown my $5000 to $7500.  50% or higher depending on what stock you picked!!  I totally missed out on that wonderful opportunity to really grow my savings.  And all this is your money, whatever gains you make in this account is tax-free!  And you can withdraw this money whenever you want it.

$4.95-$9.95 per Trade

This year, I opened a Questrade TFSA trading account.  You don’t need much money to open this brokerage account.  The required minimum is $1000.  There’s no annual fees.  Great commissions fees from $4.95-9.95.  Today I bought Inter Pipeline Fund (IPL.UN- 600 shares @ $11.12).  This is a unit trust that’ll pay me $45.00 per month.  Hopefully, by the end of the year, I’ll be able to pocket $540 in dividends and benefit from the appreciation of the share price as well!  My other stock in this TFSA is Navios Maritime Holdings (NM- 200 @ $6.70).  This is purely for stock price appreciation.  Crossing my fingers, it’ll do well for the year as well.  Now, I have about $2000 leftover… hmm, what should I invest this in!?

This account is fully funded by my line of credit.  I’m taking advantage of the low-interest rates to play the market.  I’ve taken out $20,000.  My rates are currently at 5.45%.  So every month I’ll have to pay $90.00 in interest.  I plan to cut down my debt as fast as possible making $1200/mo payments.   It’s risky I know.  Risk = Reward.

Disclaimer:  I am no professional, please do your own due diligence before investing in the stock market.