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Chuck Norris 09-17-2009 07:53 AM
^ A lot of truth to this. Mutual funds are good for people when they are starting out but once you get some money behind you it's time to grow up and invest into other products.

There are good mutual funds out there but most of the people selling them to you aren't too bright. I used to sell mutual funds to clients and the banks mandate was for us to sell the 'right' product. Funny how every month we changed the right product for the clients depending on what gave the company the most profits :(

I don't miss those days. A few months after I finished my CFA I got the hell out of there. No objectivity in these places at all. Independents aren't much better.

Jackwimmer 09-17-2009 08:00 AM
yea i agree with chuck
while there are some smart mutual fund managers out there, its safe to say a majority of them are not too bright
take for example this manager i met at TD, barely knew anything about stocks but for some reason he was selling mutual funds LOL
at the end of the day, they dont care about your money like trdood says...thats why i've also started investing myself and couldn't be happier regardless of the outcome

wouwou 09-17-2009 08:48 AM
Quote:
Originally Posted by TRDood (Post 6596920)
i skipped the mutual funds step because i know it suck ass (i work in a bank), and those account managers or fund managers are not all very smart and honest. they are always pressured by their own boss to sell sell and sell, and most of the time, they don't even agree with the products they sell.. LOL

since i am still young, i figured i can learn something in the stock market.
my transaction cost is $25 each way, which really kills me because my purchases are usually only $1000-$1500.

i have been trading for about a year, and learned a lot about what NOT TO DO.

overall, im down about $1,000. it's better than when im 30 years old and down $10,000 or more.

no one will care about my OWN money other than MYSELF.
seriously,

QUESTRADE.

$25 each way per 1k transaction is worse than anal rape.

Speed2K 09-17-2009 10:04 AM
Quote:
Originally Posted by threezero (Post 6594883)
is it possible to start trading with few hundred dollars? My dad is an experience stock trader he like to speak alot of philosophy to me all of them involve having quite abit of money to play around with. I want to start young with the disposable income I have now. I'm been basically told to take a hike in regards to trading with such small amount of money.

Is it doable?
Few hundred (ie. 5-600) no not enough. If you make 10%, that's only $50-60 (less any fees), I don't think that will give you much incentive to trade for very long. :p

!LittleDragon 09-17-2009 12:37 PM
Quote:
Originally Posted by wouwou (Post 6597285)
seriously,

QUESTRADE.

$25 each way per 1k transaction is worse than anal rape.
Overall I like them but they have their issues. Good thing I don't trade everyday. For example, Tuesday, I bought a few hundred shares of HNU.TO.. Wednesday, they did a 5:1 reverse split but it wasn't reflected which is fine. I figure they'll get to it eventually. I wake up this morning to find out I still own a few hundred shares but at the reverse split price with $6k profit. Too good to be true... lol

wouwou 09-17-2009 07:06 PM
^You pay for what you get, lol

I still remember waking up with 5K extra in my account, that was a good morning

TRDood 09-17-2009 10:17 PM
i tried setting up a questrade account online. i sent them a $5 cheque to them in March, after that, nothing happened......

i will stick to my current provider, they are more reliable since i work there! hahaha

yes, you save $20 per trade.. BUT i'm always afraid that one day, Questrade is gonna go down or I have money dissappear from my account, then im FUCKED.

plus, i usually buy US stocks, Questrade takes 15 or 20 days to process a USD cheque, which is super retarded.

1.7El_guy 09-17-2009 10:58 PM
When you open a TFSA with CIBC Investor's Edge between September 12 and December 24, 2009, you'll receive unlimited online equity and options trades for $6.95 per trade until December 31, 2009 (fee of $1.25 per option contract will also apply). That means you can trade as often as you'd like and watch your portfolio grow, tax-free.


I took that off the cibc investors edge webpage. Cheaper alternative...and yeah i woke up to that reverse split on HNU...good feeling lol but not as good as the time i owned faz and it did a reverse split which turned my 5k into 50k. too bad it only lasted one day haha

clowe 09-18-2009 12:07 AM
Lots of HNU guys here haha...what's you guys' take on it? I'm a little worried after the reverse split. It reverse split'ed not too long ago too so I'm not too sure what to think :(

Chuck Norris 09-18-2009 06:43 AM
Quote:
Originally Posted by 1.7El_guy (Post 6598655)
When you open a TFSA with CIBC Investor's Edge between September 12 and December 24, 2009, you'll receive unlimited online equity and options trades for $6.95 per trade until December 31, 2009 (fee of $1.25 per option contract will also apply). That means you can trade as often as you'd like and watch your portfolio grow, tax-free.
Or you can washout and lose your TFSA room for the year :(

wouwou 09-18-2009 07:57 AM
Quote:
Originally Posted by TRDood (Post 6598564)
i tried setting up a questrade account online. i sent them a $5 cheque to them in March, after that, nothing happened......

i will stick to my current provider, they are more reliable since i work there! hahaha

yes, you save $20 per trade.. BUT i'm always afraid that one day, Questrade is gonna go down or I have money dissappear from my account, then im FUCKED.

plus, i usually buy US stocks, Questrade takes 15 or 20 days to process a USD cheque, which is super retarded.
Questrade is a member of CIPF, so your account up to 100K is secured as far as I know:thumbsup:

For Questrade US stocks, if it's done on the same day, they will only charge you the difference between the profit, and their exchange rate is not that bad compared to banks.

That being said, they recently imposed a $5 fee for US trades (max $ per day) on RRSP accounts I believe, and their "unscheduled maintenance" is famous too.

so you REALLY get what you pay for lol

TRDood 09-18-2009 10:20 PM
I will think about it again.

I use my own bank's platform, so my exchange rates are staff rates = market rates (no buy/sell spreads).

so the amount i lose out on exchange rates on questrade is probably more when i use my own exchange rate at my platform.

7seven 10-07-2009 08:08 AM
I was wondering where this thread disappeared to, didn't realize there was a new subforum. Anyways, anyone in on WYG today :) Next up should be CAN, I have a bunch of .10 warrants and also stepped in at .145 and re-entered at .325, assay results on holes 2-5 should be out soon, visible gold like hole 1 (53 Metres at 4.32 Grams Gold Per Tonne) anyone? ;)

leilomo 10-07-2009 12:04 PM
Quote:
Originally Posted by 7seven (Post 6624851)
I was wondering where this thread disappeared to, didn't realize there was a new subforum. Anyways, anyone in on WYG today :) Next up should be CAN, I have a bunch of .10 warrants and also stepped in at .145 and re-entered at .325, assay results on holes 2-5 should be out soon, visible gold like hole 1 (53 Metres at 4.32 Grams Gold Per Tonne) anyone? ;)
How do you guys hear about these small companies on the verge of a big discovery?

Are you referring to Canaco Resources? when are the results for holes 2-5 coming out?

7seven 10-07-2009 12:56 PM
Quote:
Originally Posted by leilomo (Post 6625147)
How do you guys hear about these small companies on the verge of a big discovery?

Are you referring to Canaco Resources? when are the results for holes 2-5 coming out?
I have two careers going right now, and 1 of them is a broker. I talk to a lot of IR guys, junior mining company executives, other brokers, deal makers, etc.... We also put together a lot of the private placements & public offerings junior venture & TSX companies, we just finished one for GAM, TGX, CSI and MRS. Working on closing placements for CVB and SNS currently. Some of these deals sometimes takes a bit of time, so patience is needed.

Yes Canaco Resources, the assays where sent to the geologists earlier this week, typically it takes about 6 days for them to return the results.

leilomo 10-08-2009 11:37 AM
Quote:
Originally Posted by 7seven (Post 6625199)
I have two careers going right now, and 1 of them is a broker. I talk to a lot of IR guys, junior mining company executives, other brokers, deal makers, etc.... We also put together a lot of the private placements & public offerings junior venture & TSX companies, we just finished one for GAM, TGX, CSI and MRS. Working on closing placements for CVB and SNS currently. Some of these deals sometimes takes a bit of time, so patience is needed.

Yes Canaco Resources, the assays where sent to the geologists earlier this week, typically it takes about 6 days for them to return the results.
seeing as how you seem to know what you're doing and what you do for a living, i just bought some shares of CAN...seems highly speculative, but i think it'll be worth the risk. fingers crossed! :)

leilomo 10-08-2009 11:38 AM
what do you guys think the market will do tomorrow? it was a pretty big strong day today. think it'll continue into tomorrow, or will people take profit before the weekend?

thoughts?

7seven 10-08-2009 11:49 AM
Quote:
Originally Posted by leilomo (Post 6626828)
seeing as how you seem to know what you're doing and what you do for a living, i just bought some shares of CAN...seems highly speculative, but i think it'll be worth the risk. fingers crossed! :)
If it makes you feel better check the insider reports, Randy Smallwood, a director of CAN recent bought 65,000 shares at .30 on the open market. He is also a VP of Silver Wheaton, Silver Wheaton also has an interest in CAN. I spoke to him a couple days ago and I'll say he is very positive on CAN's future.

There's never any guarantee's but at mid .30s and this range I think its worth a shot.

604_Snooze 10-08-2009 12:49 PM
woohoo...7seven is back

leilomo 10-08-2009 04:25 PM
Quote:
Originally Posted by 7seven (Post 6626843)
If it makes you feel better check the insider reports, Randy Smallwood, a director of CAN recent bought 65,000 shares at .30 on the open market. He is also a VP of Silver Wheaton, Silver Wheaton also has an interest in CAN. I spoke to him a couple days ago and I'll say he is very positive on CAN's future.

There's never any guarantee's but at mid .30s and this range I think its worth a shot.
Thanks for the reassurance. I'll be watching this one closely (obviously).

British Quid 10-08-2009 11:02 PM
Just to add in my two cents, I hold WAVE and GLUU as a bullish play on smart phones...

7seven 10-09-2009 06:54 AM
Quote:
Originally Posted by leilomo (Post 6627159)
Thanks for the reassurance. I'll be watching this one closely (obviously).
More insider buying on the open markets, Brian Lock 29,000 @ .33, 39.000 @ .32, 82,000 @ .375, 87,000 @ .35

:thumbsup:

7seven 10-09-2009 07:15 AM
CAN at .45 now with good volume

edit** was up to .475, now at .455, hopefully news out early next week.

leilomo 10-09-2009 09:08 AM
Quote:
Originally Posted by 7seven (Post 6628072)
CAN at .45 now with good volume

edit** was up to .475, now at .455, hopefully news out early next week.

:thumbsup:
7seven is the man...i think i'll be buying you a beer soon.

7seven 10-09-2009 11:22 AM
.53 bid on CAN now, it appears everyone is loading up expecting news out Tuesday? since today is last trading day before weekend and Monday is a holiday.

edit*** 0.58 bid now

edit** closed at 0.57, up 50% with real action to come....


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