Even just two years ago, I would NEVER have expected to be DIY investing. I doubt I knew DIY investing was an actual thing. I mean yeah, I knew a guy who traded stocks online by himself in his basement when he wasn’t working his day job, and probably spent hours researching companies and markets in an attempt to make a profit. But really that was SO FAR out of my wheelhouse that it just seemed like something as distant as magical rainbow unicorns.
Today, that magical rainbow unicorn was revealed to mine own eyes, via a few transactions in my Questrade TFSA! My DIY Investing journey has begun. I had more than enough to fund my account thanks to my semi-successful $500 Challenge, plus allowance money that I scrimped and saved to make up the rest.
Still much to learn, young Padawan
Getting into Questrade was one thing. Understanding all of the bits and bobs is totally something else. What is maint excess? Buying power? What should I choose as my order type? What do I put as my limit price? Do I bid or ask? What’s a long and short MR? The mysteries abound. Fortunately I found some fab tutorials over at the Canadian Portfolio Manager Blog which totally helped me out. I was able to easily learn just enough useful things to make my first trade. And you know what? It was actually pretty easy! Apparently Questrade also has some excellent tutorials which I plan to peruse in short order.
Of course, I’m left to wonder why I didn’t do this a long time ago, but as some wise Chinese proverb once proclaimed, the best time to plant a tree is 20 years ago, but the next best time is now.
Tree planted, bitches.
Day One Summary
I basically went a pretty safe-ish route and purchased some Vanguard ETFs based on advice from the Canadian Portfolio Manager blog, Vanguard’s “Risk Tolerance” questionnaire, the Canadian Couch Potato site, and conversations with generally informed people whom I trust. Low MERs, decent returns, diversification – what’s not to love?
So far, I’ve lost $1.71.
I mean, disappointing that I couldn’t report a gain on day one, but I’m in this for the VERY LONG haul to FI, so I just won’t be looking at it again until I deposit more $ to invest (auto-transfers from bank account already established!)
I would like to thank everyone who has provided me with advice and support over the past year to give me the confidence to make this happen. I’m excited about what the future will bring. Please let me know your experiences with DIY investing in the comments, and how I can get rich quick! I know, it’s not really about that, but I’d welcome those comments anyway. Toodles!