Paul64 wrote:Would it not take a day or two to get your cash out of there when you wanted to make a buy?
Lazy Ninja wrote:Equity and ETF trades settle three days after you actually make the transaction, whereas HISA transactions settle at the close of the next business day. Therefore, you can make the purchase first, and put in a sell order for the HISA funds after you've made the trade, if you choose to do so. This can be particularly useful when placing limit orders, where you won't be certain of whether you'll get a fill or not.
Paul64 wrote:Really, I would have thought that if I've got all my surplus cash in an HISA in my BMOIL and then tried to buy an Equity that it would would tell me I don't have the cash.
Lazy Ninja wrote:At TDW, it generates a warning saying your cash balance is insufficient and that you'll have to sell something else to cover the difference (or something to that effect). You can just click agree and proceed so long as the HISA is in the same account that you're placing the trade. Dunno if that works if the HISA is in a different account.
pmj wrote:Can't answer that question - but I can also confirm that TDW's process in an RRSP account will also accept HISA or MMF in a different currency to the proposed trade.
Note: you have to have a minimum balance of $25,000 at all times.Paul64 wrote:I've look in more detail now but the US ones are poor - I guess that's just the way it is?
Looks like the best options from within BMOIL are;
MIP710 MANULIFE TRUS INVEST SAVING ACCT ADV CL (1.3% CAD)
IBN200 ICICI HIGH INT INVEST SAV ACC SR A U$ NL (0.25% USD)
I called BMO and they said there's no commision fee for buying/selling these.
Incidentally, these can also be seen in Trading > Fixed Income > GIC Quickpicks > "Looking for an alternative to cash in your portfolio" on the BMOIL site.
I look at it as one trade out of many. My strategy results in many small losses and I easily accept that I won’t win every trade. It’s the big losses that hurt you, and most big losses start as a small loss.
deaddog wrote:Dipping my toes back in the water with the purchase of ONXX @ 47.00
Initial Stop @ 44 Target = 56
Risk is 0.75% of Capital.
This is a momentum play. The above average move(both price and volume) on Friday was the set-up.
deaddog wrote:JIVE @ 17.00: Stop @ 15.50 Target = 20.40
Risking less than 0.5% of capital.
Another Momo play just before the close;
JIVE had a above average price and volume move and closed in the top half of the move.
I’m fighting the general market so have kept position size low.
SIMG @ 4.32 Stop @ 4.10 Target = 5.22 (Bottom Fishing)
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