[newbie]

Hello to all members.
this forum seems to be an excellent resource and i have been reading it for awhile.
as my nick says i am a total noob in the investment arena and i am looking to learn on how to start trading online.
it is my perception that the lowest fee broker is questtrade so i decided to give it a try.
but first i would like to ask the more seasoned investors as to for example how to find the tsx and djia stock symbols.
i will use my tfsa acct to start investing and i am willing to take chances during short term periods or even intraday speculation.
So basically in terms of startup what should i do?
any help is appreciated .
I know that you all recomend several books to read but i just dont have the time and the amount of investment will be small so any help is appreciated
thks
happy holidays

 

[Rickson9]

Learn how to read financial statements and you will be on your way to investing well.

 

[dogcom]

If this account is set up just to gamble like in the casino then short term and intraday is fine, even though you will most likely loose most of your money. In fact I would wager you would probably do better if you study and play blackjack.

Most here however would suggest ETF's, the kind you can put into a couch potato portfolio. I would also suggest keeping at least half of your money in a short term income, short term bonds or a safe higher interest investment. Do this until you are more comfortable with stock investments through time and learning.

 

[scomac]

If you don't have the time to learn how to invest, you don't have the time to invest. Buy a GIC.

 

[Oldroe]

Globeinvester is my main general info stock site, Stockhouse another.

About the only way to learn what works for you is get in there. You can expect to lose frequently.

I would suggest that a solid core of nice boring stock. To start banks, utility's, rail, pipe lines. Then take 5% and dabble in what really interest you.

 

[FrugalTrader]

Newbie, I would suggest that you start your research with the indexing strategy. From there, you can learn about the merits (or pitfalls) of picking individual stocks. In my opinion, it's all about the amount of time and interest that you have in investing. If you have a lot of time (and interest) to watch and research stocks, then sure, buying individual companies may work for you. However, if you're the type to "set it and forget it", then indexing will be your best bet.

 

[Dr_V]

i just dont have the time and the amount of investment will be small so any help is appreciated

I'll echo others' comments here, but I'll reiterate a basic axiom: nothing good comes free in life.

Corollary: If you want to do well, work hard.

If you don't have the time to learn how to invest, then you will likely be putting yourself in a position where you will lose money.


K.

 

[leslie]

First, you specific question. The TSX and Dow are not stocks. They are indexes. But you are correct in that you find their graphs/ values by inputting a symbol into the 'stock ticker' box.

Index data is maintained by one outfit, and used by many websites - mostly as a graph and a day's end value, and sometimes inter-day values as well . Each site uses different 'tickers' to bring up the index. There will always be a way for you to search for the correct ticker.

E.g the Globe and Mail site identifies indexes with an 'I' in the place where the stockExchange would go.
http://investdb.theglobeandmail.com...910010950360001&pi_currency=&pi_param_1=World

StockCharts puts an '$' at the start of the ticker for indexes:
http://stockcharts.com/def/servlet/SC.pnf?chart=$TSX,PGPLDANRBR[P][D][F1!3!1.0!!2!20]&pref=G
http://stockcharts.com/def/servlet/SC.pnf?chart=$SPX,PGPLDANRBR[P][D][F1!3!1.0!!2!20]&pref=G

BigCharts uses a long number series instead of ticker for indexes:
http://bigcharts.marketwatch.com/sy...upresults.asp?symb=+&country=us&type=currency

Regarding the rest. You have come to an incorrect conclusion from the facts that you don't already know about, or have time, or inclination to learn investing. You conclude that short-term day trading is the way to go. No, no, no, no. I'll bet you've got a buddy who also doesn't know anything, and that is what he says to do. Blind leading the blind. Look at a list of the VERY basic 'trading' rules. Do you or your friend have any intention of obeying any of them? Do you know how to develop a trading system?

The reason all the posters above talk about indexing is NOT because we are all old fogies with no love of risk, etc. It is because we know what does not work, and what has a better chance of working. Indexing does not take much knowledge or time and attention. The couch potato' strategy 'search "couch potato" was made for people like you.

 

[humble_pie]

och laddie dinna fret the intraday speculation whilst ye larn the "tsx and djia stock symbols [sic]."

tis the season tae be jolly maybe stand under the mistletoe & bide the fairy godmother. An ye ken what knowledge did tae Eve for aw that.

 

[newbie]

First, you specific question. The TSX and Dow are not stocks. They are indexes. But you are correct in that you find their graphs/ values by inputting a symbol into the 'stock ticker' box.

Index data is maintained by one outfit, and used by many websites - mostly as a graph and a day's end value, and sometimes inter-day values as well . Each site uses different 'tickers' to bring up the index. There will always be a way for you to search for the correct ticker.

E.g the Globe and Mail site identifies indexes with an 'I' in the place where the stockExchange would go.
http://investdb.theglobeandmail.com...910010950360001&pi_currency=&pi_param_1=World

StockCharts puts an '$' at the start of the ticker for indexes:
http://stockcharts.com/def/servlet/SC.pnf?chart=$TSX,PGPLDANRBR[P][D][F1!3!1.0!!2!20]&pref=G
http://stockcharts.com/def/servlet/SC.pnf?chart=$SPX,PGPLDANRBR[P][D][F1!3!1.0!!2!20]&pref=G

BigCharts uses a long number series instead of ticker for indexes:
http://bigcharts.marketwatch.com/sy...upresults.asp?symb=+&country=us&type=currency

Regarding the rest. You have come to an incorrect conclusion from the facts that you don't already know about, or have time, or inclination to learn investing. You conclude that short-term day trading is the way to go. No, no, no, no. I'll bet you've got a buddy who also doesn't know anything, and that is what he says to do. Blind leading the blind. Look at a list of the VERY basic 'trading' rules. Do you or your friend have any intention of obeying any of them? Do you know how to develop a trading system?

The reason all the posters above talk about indexing is NOT because we are all old fogies with no love of risk, etc. It is because we know what does not work, and what has a better chance of working. Indexing does not take much knowledge or time and attention. The couch potato' strategy 'search "couch potato" was made for people like you.

Thanks for all ther members (specially Leslie) for takin the timr and reading my post.
i will try your different oppinions and see what happens.
i also believe that more reading before goin into action is deffinitelly necessary
thks
'happy holidays to all members

 

[newbie]

och laddie dinna fret the intraday speculation whilst ye larn the "tsx and djia stock symbols [sic]."

tis the season tae be jolly maybe stand under the mistletoe & bide the fairy godmother. An ye ken what knowledge did tae Eve for aw that.

looking two years back and things dont change.
lol
that is when i started trading.
i see leslie is also gone.
by the way how are ur straddles otm doing?
ur a joke man