Opened a new RRSP Account - eTrade to Buy More Speculative Stocks

Written by The Dividend Guy on April 26, 2006

Today I filled out all the online forms to open a new RSP account with eTrade Canada. For those US investors reading this site, an RSP is our tax deferred investment vehicle that the governments “let” us set up.

I opened this new account as I am going to do some investing in some more “speculative” stocks that are not offered through my RSP account with the CSA. These speculative investments will not make up more than 10% of my overall portfolio at any given time and my plan is that they will provide some additional juice to my portfolio gains.

The type of stocks that I am going to be looking for are those that don’t necessarily offer dividends but are considered to be more growth stocks with a high potential to shoot to the moon (in theory anyway). Most of my portfolio is made up of well established, consistent dividend increasers that will still make up the majority of my portfolio. I am not going to buy micro-stocks or stocks that I simply have a hunch about. I will complete the research on them and be totally comfortable buying them. This is NOT a gambling account and I am treating this as serious money - I will just be using a different strategy when buying these stocks than I do in my regular dividend paying RSP account. I think it will be fun and if all works out well, it should provide some additional spark to my returns.


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2 Comments so far

  1. smith May 6, 2006 3:46 pm

    “Those darn resource stocks in Canada keep shooting the Canadian markets up, and my only true exposure is through Talisman Energy which has been doing well, but offset by a few of my other non-resource based companies. ”

    I highly recommend reading these website for research, hope this helps.

    http://www.stockbullz.com/
    recommended signing up for weekly penny stock Newsletter
    One Canadian Investor’s Opinions on Silver, Uranium and Resource Stock Investing

    http://www.resourcebullmarket.com/
    current commentary on investment opportunities in energy and commodities

    http://www.smartstox.com/
    online tv talk show: with Canadian companies-audio video

    http://www.richmondclub.com/
    http://23032.vws.magma.ca/pastpresenters.asp
    where investors and high growth companies meet

    http://www.iradesso.com/i/IOR/investops.html
    http://www.iradesso.com/i/IOR/pogcompanydir.html
    Junior Oil & Gas Companies
    list of oil and gas companies that meet the following criteria :
    Primary business must be oil and gas exploration, development and production
    Q2 2005 production between 500 and 15,000 barrels of oil
    equivalent per day (boe/d)
    A majority of their production from Western Canada
    Publicly traded on the TSX or TSX Venture Exchange

    http://www.321energy.com/
    oil, natural gas, solar wind, nuclear, coal, gasoline

    http://www.stockhouse.ca/
    check out the forum

    Copper, zinc, uranium, oil (oil sand-Alberta Canada), coal, renewal energy is the best investment to go.
    Oil sand and uranium is a no brainer-buy and hold

    Copper http://www.equinoxminerals.com/
    going to production soon.
    Zambia, Lumwana is one of the world’s largest undeveloped copper deposits=EQN.T, I got this at 0.50, now $1.87

    http://www.firestoneventures.com/s/Home.asp
    Firestone Ventures Inc. (FV:TSX-V) is a Canadian company exploring a diverse and high-quality portfolio of mineral projects in western Canada and Guatemala. The Company’s holdings are focused on ZINC, GOLD, URANIUM and COPPER.
    $0.13-now $0.78

    Uranium is HOT-top of the list to invest in http://stockbullz.com/uranium-stocks have a list of uranium stock you can take a look at.

    Questions?

  2. Lloyd August 5, 2007 4:06 pm

    I actually like Etrade…

    However , since it has banking facilities attached to it - it makes a nice account for internet marketers such as myself - and I use it daily with Paypal - and I haven’t got round to using the investment side of it…

    I got a kit which showed me the way to open an Etrade account See : http://www.easyusaccount.com , and showed me how to open a US Paypal account as well etc. Its been over a year and so far no problems - so Ill keep you posted if I run into any.

    Is etrade the best service for stock trading if you are a foreigner? Or is there another service? I have seen several websites that have people who have had problems with etrade…

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