New and no clue with about $1000

[heden]

Hi all,

I am a new investor and would like to get started.  I know that I may be small time but ya have to start somewhere.

I have read the posts in getting started, but to be honest, they didn't make sence to me.

I have an account with TD waterhouse so I am all set up there...but not sure where to start....

I get the emails on all the buy/sell orders, so I think (being that I am starting with so little capital) that I would just pick a day and start buying based upon the recomendations for the portfolio that I am going to deal with.

Am I missing anything?

Yes I am am new

THanks
Heden

[Super Stock Picker]

Hello Heden,

Welcome on board...

You will be very limited with such a small capital. In order not to pay to many commission fees, you will have to limit to one or two stocks. And that's something we don't like people to do because if you do not follow all our recommendations, your results will be different of what we show on the web site.

We do not get only winners, some of our picks are losers but are greatly compensated by the winners over the long term. But if you just pick a stock here and there, you may end up with only the losers, you see?

Our recommendation is to take positions not less than 1000$ (considering you can pay 9.95$ per trade). So, you may be better to wait until you have at least 5000$ and can follow one of our price momentum that does not hold to much stocks (Ultimate v4 or v5).

I hope this helps you to understand better our system and that you will be able to make successful first steps in the world of investment.

[cryptblood1986]

Hi,
I'm also very new & I don't know much about stocks. I've only started with a few simulators @ investopedia.com . Recently I made a broker account with Credential Direct. I'm planning to spend roughly around $40,000 for stocks. I live in British Columbia and I'm wondering if the tax applies to every trade I make or am I taxed at the end of the year? I'm guessing there's a tax around 15%, if you know the actual rate please tell me what it is. Another thing I wanted to ask is what if I moved out of the country to say somewhere in the Philippines I shouldn't be taxed when trading canadian stocks online through a canadian broker right? I'm very confused can someone please give me a clear answer.

[DCA]

With the usual disclaimer that I am not a tax lawyer or accountant:  Tax is due on net captial gains for the tax year in which you sell the stock.  For info on captial gains: http://www.cra-arc.gc.ca/E/pub/tg/t4037/README.html .

Note the kicker:  If you do sufficently well in the stock market the government will deem you to be in the business of stock trading.  Then they change the rules on you:  Your net stock market gains will be treated as income and taxed at income tax rates.

If you are non-resident of Canada (live outside for more than 6 months in the tax year and do not maintain a Canadian residence) then you will only pay tax on your income in Canada.  So trading any stocks with a Canadian broker or Canadian stocks with a non-Canadian broker would be taxable.

D

[cryptblood1986]

thanks for your response you're very helpful.