So, after severe procrastination I decided to jump into the fray & open a brokerage account where I bought my first stocks in years. Last time I bought any was 40 years ago.
Better later than never I suppose.
I got room in my TFSA so I started investing. Thought this might be an appropriate thread to talk about it. Anyway it's a new adventure fer me so tell you how it goes...folks!
Unlike many of you turncoats hea' I've decided to embrace this Liberal Government's economic plans.
I recently purchased 100 shares in Imperial metals because they are developing a copper mine in Northern British Columbia. This is in conjunction with Newmont Gold. I figger with backers n partners like that, it's a can't lose win win for Investors and all of Canada.
Next I intend to invest in pipelines and natural gas, another area being promoted by the Carney Government.
So if all goes well im gonna leave all you naysayers bitin' the dust eh?
I believe in Canada's future even if many of you here do not.
I keep hearing we might be on the verge of a recession or something even worse.
So if any of ya don't have or can't afford physical Gold, Gold stocks might be yer best bet, eh.
So I recently opened up a trading account to start buying stocks. Truth be known, I hadn't bought any in quite a while. Last time I did, I bought 100 shares in a company for $600 or $6 per share. And I ended up selling them for $750 for a $150 profit. Shortly after that the shares went down & the company went bust.
Anyways I opened up a Questrade account & soon figgered out that the best way ta buy stocks is as little as possible at the beginning. Not 100 shares, 1000 or 10,000.
Like anything the investor has ta figger out if the shares he buys from are any good.
So the strategy I've employed is to buy 1,5 or 10 shares at a time. But if it's a penny stock then buy 100 if it's really cheap, buy 1000 shares. Then wait a few days, week or even a month to see where the stock is going. If the stock goes up, buy s'more. But if it doesn't then don't buy any more or just sell the initial investment.
Seems in an unstable market or poor economy it doesn't make any sense to pile into the stock market. So if it crashes next year ya don't lose yer shirt.
In other words just keep the inventory of stocks in the portfolio low particularly during a slow economy like we are experiencing now.
Anyways that's how i intend to approach it, with as low risk as possible. Buy if at all possible during the dips, and sell if they become a bumper crop.
However I'm not an all in kinda investor.
Feel free to agree or disagree but that's how I intend to approach buying stocks.
Buy and hold long term is the best strategy IMHO. Buy good companies and watch your $$ grow.
Quote from: Renegade Quark on Today at 12:38:52 AMBuy and hold long term is the best strategy IMHO. Buy good companies and watch your $$ grow.
Old Joe is at least seventy and the wanker is a fake as fuck troll. His act is day trading for seniors.
I prefer the "Flush the money down the toilet and save on brokerage fees" strategy. It also frees up a lot of extra time.