Monday, February 11, 2008

How I started investing

Well after amassing several hundred dollars in savings from reffing soccer, birthday and Christmas money, but the biggest factor was a small French tv show that both me and my brother were in. My parents told us that their financial adviser was coming to give us some options with our money. He suggested mutual funds, that he explained were like a big bucket of bonds and stocks, he picked for us the Fidelity Canadian Balanced-B fund(that had a 13,6 return in my first year but it got destroyed by the recent crash). I continued to put money until a couple of months ago when i decided to try my luck at the stock market.

Picking A broker

I started with a call to my uncle for some insight to picking a broker and for some basics. He had me motivated to start investing in the stock market now all I had to do was find a broker that met my needs.I searched the large banks(BMO,RBC,CIBC, Scotiabank) only to find large minimum deposits and enormous commissions. Then I found what seemed to fit : Questrade ( low minimum, low commissions and a free trading platform!!!I was soooooo Pumped!

Little did I know the application and funding would take me over a month. My goal was to buy my first stock by the end of Christmas break.I'm not writing this do say that Questrade is bad but it took like almost 2 months!!

Choosing stocks

Well, while Questrade account was in the works I was reading books, reading articles and watching Jim Cramer's lightning round podcast .

Send me advice on what i wrote or stock picking
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