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Norbert's Gambit: Not Waiting After Journaling Request?

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#62 ·
GoldStone said:
Of the 100,000 things that concern me as an investor, the difference between 9.99CAD and 9.99USD just isn't one of them.
Click to expand...

that's it. Folks who want to complain about commish could move to questrade or IB or haha virtual brokers (which btw sure chose the right name for itself.)

anyhow this is not a thread about commish complaints
 
#63 ·
So I just did this for the first time at both TD and Questrade this month... what's this about being able to do it at TD without calling in (I called for both)? Is it like RBCDI where you can just do it all yourself, or do you stil have to send an email to get the shares journaled?

I also noticed that both systems do a horrible job of displaying balances if you have had any account activity in the last week. One is currently displaying a total balance that is twice what it really holds (if only). Even for an account where I only traded in CDN$ it doesn't display accurate information at first. At this point I just laugh and refer to my own spreadsheet. Apparently they're designed to provide market data and execute orders, not tell you what just happened. Guess it keeps the phone reps from getting bored :)
 
#64 ·
For TD RSP, you don't have to call in to journal the shares. You can just buy on TSE and sell it right away on NYSE.
Non-reg requires a phone call.

This is why I liked TDWH for the initial lump sum conversion. Cause waiting three days for Questrade to journal while sitting in cash is too risky for my liking.
 
#65 ·
Well based on the instructions in this thread I'm going to give this a try for my RRSP. I already have autowash set up.

I hope I don't get confused as I don't want to be out of the market for longer than I have to. I just set up a sell of all my mutual funds now. I'll know exactly how much that will be in dollars tomorrow. I'll buy TD or whatever, sell on NYSE.

And at that point, another buy for what I'm looking to buy in US dollars.

Hopefully it all works out.
 
#66 ·
If you are nervous about it (I was the first time) you can call in and have a broker walk you through it. If it's with TD they probably won't even charge you 45 for the trade = they'll just verbally walk you through it as you click things.

I figure they are all for this as this allows them to keep the 'CAN only' RRSP where they nail you on exchange with dividends. The bank still wins big.
 
#67 ·
I'm not too worried about the steps. It's all pretty straight forward. The nervous part is waiting the three business days to see it all work out. If I hit a road block, I'll call them though. Never know what kind of prompts I'll see when buying/selling.
 
#68 ·
Well, I went through with it. Everything is in the auto-wash, so hopefully it all works out in the end.

Sold TDB911,909,900 and added $4530 into my RRSP for a total of $19676.01 to convert.

Bought TD on TSX, 228 units, 200@85.86 and 28@85.87.

Sold TD on NYSE, 228 units at 82.57 for a total of $18815.97.

Cost 9.99 CDN and 9.99 US.

Immediately bought 390 units of VXUS.

Woo. Hopefully it's good in three business days.
 
#69 ·
eulogy said:
Woo. Hopefully it's good in three business days.
Click to expand...

it'll be perfect. Next thing you know, you'll be teaching this in the forum.

(aside to all) always scribble down all USD figures - prices, commissions, etc - as they flash in front of your eyes while gambitting in tddi rrsp. They'll only flash once as USD figs. After that, the system will swallow em up & convert em to CAD.

in the end, you'll be able to see from your scribbled USD figs that all the laundry got washed & ironed properly.
 
#71 ·
In order to get US$ in TDW , I was buying TD on TSX and selling right away TD on NYSE... I usually did it in quiet afternoons during my "lunch break" :) ... Now, company I'm working blocked financial websites, so I cannot do it anymore... I was thinking if at night time I will place market buy for 100 shares for next day on TD:TSX and the same time market sell for 100 shares on TD:NYSE.... How dangerous to do it?
Please note that I hold on my account TD:TSX and don't want to touch it.... only to convert to US$ new acquired 100 shares..
 
#80 ·
"Please say your order"
"Buy 100 shares of TD Bank"
"Please confirm you want to buy 100 shares of Google"
"NO!"
"Order confirmed. Buying 100 shares of Google at Market Order... Transaction completed."
"NOOOOOOOOOOOOOO!"

:)
 
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