Mark - thanks for sharing your real world perspective as a “daily trader”. I probably over trade myself and fortunately have a commission free broker which is most likely why I trade so much. I’ve found that being more deliberate or aggressive in the timing of my trades is what i need to focus on. Holding on to a ticker too long or being underweight right before it ramps up and it reflects in my portfolio performance. YOYO trader for now
Trying to not overthink trades, getting our thoughts and emotions out of the way, and just following the process is an ongoing battle. Jonesey has a -6-7% rule to dump a stock/ETF if it's not working. I think Keith is less than that. And getting the sizing right can be tricky too, as you say.
Mark, I really enjoyed this article. It pretty much describes my own experience complete with the mountain of trade confirmations, spousal role and compliance, and the way you incorporate Hedgeye into your investing approach. I have also been procrastinating over moving my accounts to a commission-free broker because it seems like a giant pain in the ass and there’s not a lot of choice in Canada. Any suggestions?
I laughed when I read your message. I read it to my wife straight away. Too funny that you have all of those similarities.
National Bank Direct, Wealthsimple and Desjardins appear to be the only three brokers that offer commission-free trading. Some other brokers say they're commission-free but you have to trade a lot to qualify.
I went with National Bank Direct mainly because National Bank Independent Network is the custodian for my retirement account. I had liquidated my other brokerage account so I was just depositing cash into the new account and not transferring securities. The online enrolment takes some time but it was fairly seamless.
Yeah I'm curious to know myself. I don't know of any commission free brokers in canada. The only one I know that offers the best rates is interactive brokers IBKR.
I'm guessing you'll see my response to Jim about commission-free trading but I'm copying my response over to you:
National Bank Direct, Wealthsimple and Desjardins appear to be the only three brokers that offer commission-free trading. Some other brokers say they're commission-free but you have to trade a lot to qualify.
I went with National Bank Direct mainly because National Bank Independent Network is the custodian for my retirement account. I had liquidated my other brokerage account so I was just depositing cash into the new account and not transferring securities. The online enrolment takes some time but it was fairly seamless.
Mark - thanks for sharing your real world perspective as a “daily trader”. I probably over trade myself and fortunately have a commission free broker which is most likely why I trade so much. I’ve found that being more deliberate or aggressive in the timing of my trades is what i need to focus on. Holding on to a ticker too long or being underweight right before it ramps up and it reflects in my portfolio performance. YOYO trader for now
Hi John,
Trying to not overthink trades, getting our thoughts and emotions out of the way, and just following the process is an ongoing battle. Jonesey has a -6-7% rule to dump a stock/ETF if it's not working. I think Keith is less than that. And getting the sizing right can be tricky too, as you say.
Anyway, onward and upward. Thanks for reading.
Mark
Mark, I really enjoyed this article. It pretty much describes my own experience complete with the mountain of trade confirmations, spousal role and compliance, and the way you incorporate Hedgeye into your investing approach. I have also been procrastinating over moving my accounts to a commission-free broker because it seems like a giant pain in the ass and there’s not a lot of choice in Canada. Any suggestions?
Hi Jim.
I laughed when I read your message. I read it to my wife straight away. Too funny that you have all of those similarities.
National Bank Direct, Wealthsimple and Desjardins appear to be the only three brokers that offer commission-free trading. Some other brokers say they're commission-free but you have to trade a lot to qualify.
I went with National Bank Direct mainly because National Bank Independent Network is the custodian for my retirement account. I had liquidated my other brokerage account so I was just depositing cash into the new account and not transferring securities. The online enrolment takes some time but it was fairly seamless.
Hope that helps.
Thanks for reading and good luck!
Mark
Yeah I'm curious to know myself. I don't know of any commission free brokers in canada. The only one I know that offers the best rates is interactive brokers IBKR.
Hi Scott.
I'm guessing you'll see my response to Jim about commission-free trading but I'm copying my response over to you:
National Bank Direct, Wealthsimple and Desjardins appear to be the only three brokers that offer commission-free trading. Some other brokers say they're commission-free but you have to trade a lot to qualify.
I went with National Bank Direct mainly because National Bank Independent Network is the custodian for my retirement account. I had liquidated my other brokerage account so I was just depositing cash into the new account and not transferring securities. The online enrolment takes some time but it was fairly seamless.
Hope that helps, Scott, and thanks for reading.
Mark