After I posted in August that I bought my first stock – ever – by myself, using Questrade’s online trading platform Questrader IQ Web. (PWT.TO @ $15.05, trading at $9.75 as of writing of this post, ouch) I thought it was time to get my feet wet some more.
If you have more questions about Questrade please read this incredible in-depth review on Canadian Profiteer. This was the article that convinced me to give Questrade a try! It is a long read, especially if you also decide to go through the comments (I did, to make sure I really wanted to do this) but if you want to get into investing yourself you should get used to a little digging and research.
The conclusion made by Canadian Profiteer;
Should you join? Yes. Especially for those who are thinking of starting to invest. For someone like me who is a casual trader Questrade fits my needs perfectly. And after getting a better feel of most of what they have to offer I am more than confident they can accommodate me or any other person’s growing needs as an investor
Just about sums it all up. Questrade is pretty awesome. For $4.95 per trade (up to $9.95) you’re getting a pretty good deal compared to other brokers. There is no crazy fine print, it’s not a cheap deal just for big volume traders. It’s the $4.95. That’s it. And for those that have no idea what they’re doing, Questrade has so many resources on their website, videos, articles etc, it’s fantastic, if you spend some time going through it you will learn a lot just like I have.
Moving on from Questrade-praising. About 6 weeks after that buy I felt a little more… ballsy? While I had mentioned that a) I should make bigger buys and b) I was looking at BMO stock and then also c) was considering ETF’s I went against all that and just pulled the trigger on ENB, 15 shares at $38.xx totalling just about $580.00 (as of the writing of this post ENB is trading at $46.82)
I did a little bit more research on this one than I did with Penn West (PWT.TO) but did end up picking another oil-industry company that pays out dividends. I’m sensing a trend. I’m setting a $1,000 minimum limit for my next buy which I had hoped to complete by Christmas, I’ve postponed that to sometime this summer.While I’m still not wholly comfortable with everything, wait… who am I kidding – I just barely know what I’m doing with regards to understanding price/earning ratio’s, risk levels and margins BUT it’s not as scary as it was the first time. I just keep reminding myself that this is what I really want to do. I don’t want to invest through a firm where I pick something from a catalogue. I want to hold stocks, etf’s, mutual funds but I want to pick and research them myself. Help is okay and definitely needed but I want to make the buy or sell myself. I fully expect to lose a little and also gain a little. I won’t invest anything I can’t lose 100%. (which is also why you’re not seeing me invest a lot) This won’t be a win-win situation, but it means I will learn from it and ultimately I will have a little bit of a clue what I’m doing.
What have you bought lately?